MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
Note: Correct name of the company Gentech Diagnostic
Private Limited
IDENTIFICATION DETAILS
|
Name : |
GENTECH DIAGNOSTIC PRIVATE LIMITED |
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Registered
Office : |
234-A, Chandi Plaza, Raja Dhir Sain Marg, Sant Nagar, East of Kailash,
New Delhi |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
18.12.2000 |
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Com. Reg. No.: |
55-108896 |
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CIN No.: [Company Identification
No.] |
U74899DL2000PTC108896 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELG05765E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are limited.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
234-A, Chandi Plaza, Raja Dhir Sain Marg, Sant Nagar, East of Kailash,
New Delhi, India |
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Tel. No.: |
91-11-26445263/26429843/46517353 |
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Fax No.: |
91-11-26445269 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Vijaya Gupta |
|
Designation : |
Director |
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Address : |
218, Pocket-B, SFS, DDA Flats, Sukhdev Vihar, New Delhi-110025, |
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Date of Birth/Age : |
12.01.1951 |
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Date of Appointment : |
18.12.2000 |
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Name : |
Mr. Dinesh Gupta |
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Designation : |
Director |
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Address : |
218, Pocket-B, SFS, DDA Flats, Sukhdev Vihar, New Delhi-110025, |
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Date of Birth/Age : |
01.05.1952 |
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Date of Appointment : |
18.12.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Gupta |
|
42500 |
|
Mark Van Asten |
|
35000 |
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Vijaya Gupta |
|
17500 |
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Total |
|
95000 |
AS ON 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
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GENERAL INFORMATION
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anil Bedi and Company Chartered Accountant |
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Address : |
109, Narmada Apartment, Alaknanda, New Delhi-110019, |
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Tel. No.: |
91-11-42143403/42143433 |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95000 |
Equity Shares |
Rs.10/- each |
Rs.0.950
Million |
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000 |
Equity Shares |
Rs.10/- each |
Rs.0.700
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.700 |
0.700 |
0.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.662 |
0.530 |
0.351 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.362 |
1.230 |
1.051 |
|
|
LOAN FUNDS |
|
|
|
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
4.754 |
4.861 |
4.803 |
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TOTAL BORROWING |
4.754 |
4.861 |
4.803 |
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DEFERRED TAX LIABILITIES |
0.196 |
0.178 |
0.046 |
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|
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|
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TOTAL |
6.312 |
6.269 |
5.900 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.554 |
4.966 |
5.344 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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|
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Inventories |
1.433
|
1.133 |
0.865 |
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Sundry Debtors |
1.317
|
1.448 |
2.528 |
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|
Cash & Bank Balances |
0.606
|
1.035 |
0.418 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.642
|
0.257 |
0.196 |
|
Total
Current Assets |
3.998
|
3.872 |
4.007 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
1.659
|
1.323 |
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|
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Other Current Liabilities |
0.558
|
1.246 |
3.451 |
|
|
Provisions |
0.023
|
0.000 |
0.000 |
|
Total
Current Liabilities |
2.240
|
2.569 |
3.451 |
|
|
Net Current Assets |
1.758
|
1.303 |
0.556 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.312 |
6.269 |
5.900 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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|
|
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Income |
7.955 |
5.850 |
6.259 |
|
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Other Income |
2.312 |
1.907 |
1.493 |
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TOTAL (A) |
10.267 |
7.757 |
7.752 |
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
5.641 |
3.406 |
5.395 |
|
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|
Exchange rate fluctuation |
0.557 |
0.000 |
0.024 |
|
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Laboratory expenses |
0.163 |
0.146 |
0.000 |
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Administrative expenses |
2.729 |
2.428 |
1.647 |
|
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|
Selling expenses |
0.283 |
0.214 |
0.132 |
|
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|
Communication charges |
0.135 |
0.121 |
0.179 |
|
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Miscellaneous expenses |
0.036 |
0.214 |
0.065 |
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|
Preliminary expenses written off |
0.000 |
0.000 |
0.010 |
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TOTAL (B) |
9.544 |
6.529 |
7.452 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.723 |
1.228 |
0.300 |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.027 |
0.289 |
0.027 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.696 |
0.939 |
0.273 |
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.483 |
0.560 |
0.453 |
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|
|
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PROFIT BEFORE
TAX (E-F) (G) |
0.213 |
0.379 |
(0.180) |
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|
|
|
|
|
|
|
Less |
TAX (H) |
0.081 |
0.200 |
0.035 |
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PROFIT AFTER TAX
(G-H) (I) |
0.132 |
0.179 |
(0.215) |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.530 |
0.351 |
0.522 |
|
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DEFERRED
TAX ASSETS |
0.000 |
0.000 |
0.048 |
|
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|
|
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|
Less |
PREVIOUS
YEAR ADJUSTMENT |
0.000 |
0.000 |
0.004 |
|
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|
|
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|
|
BALANCE CARRIED
TO THE B/S |
0.662 |
0.530 |
0.351 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.39 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
1.29
|
2.31 |
(2.77) |
|
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|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.68
|
6.48 |
(2.88) |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.49
|
4.29 |
(1.92) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.31 |
(0.17) |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
5.13
|
6.04 |
7.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
1.51 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
Note: The
registered office of the company has been shifted from 187-A, Sai Sadansant
Nagar, East of Kailash, New Delhi-110065,
Fixed Assets:
- Air
Conditioner
- Computer
- Furniture and
Fixtures
- Lab
Equipments
- Fax Machine
- Invertors
- Electrical
Fittings
- Lap Top
- Water
Dispenser
- Office
- Refrigerator
AS PER WEBSITE DETAILS:
PROFILE:
The main objective of promoting this new clinical diagnostic technology service provider company in India is to directly promote to the end-user clinicians and patients (defined as “Customers” hence) with the advanced molecular diagnostic technologies and cytopathological services of clinical relevance in the area of women’s cancer and blood viruses testing being directly used in the routine patient management, care and decision to treat by surgical interventions.
Subject, through its association with expert scientists on the global arena as
well as leading the Indian clinical fraternity in women’s genital cancer have
strived hard over a decade to bring about a subtle change to adopting the
state-of-the-modern-care technologies over the conventional pathological
technologies. Today, the entire gynaecologic oncology community in the Indian subcontinent
looks upon subject as a lab with most contemporary “knowledge” in our chosen
area of core competence. Working in the very close proximity with Indian
experts, we have been able to formulate the first “Evidence-based clinical
compilation” of various screening procedures for cervical cancer, which is
referred by every practicing gynaecologist and gynaec- oncologist of
By bridging a link with end-users (customers) we ensure not only quality
products at affordable prices but also conducive personalized services which
are necessary in molecular diagnostics/ clinical research industry.
The National Clinical
Reference Laboratory, a laboratory unit of the Company is set
up with the commissioning of Digene’s modern proprietary Hybrid Capture 2 system
consisting of chemiluminescence based 96-well Plate Luminometer, Tube
Luminometer, Rotary Shaker, Heating Block and automated micropipetting system.
The facility launched in May 2001 performs tests on bi-weekly intervals. The
Laboratory holds some of the world reputed Gynaecologists and Hepatologists in
The Company also plans to create a networking of Referral Laboratories in the
major cities in
The current core area as a National Clinical Reference Laboratory being
QIAGEN’s US FDA approved Hybrid Capture 2 HPV DNA test for early diagnosis, management
and prevention of Cervical Cancer afflicting women in their most reproductive
age group and constituting a major cause of death due to any cancers among
women. Also the other clinical test procedures being marketed are the US FDA
approved Liquid Based Cytology (LBC), Chlamydia DNA, Gonorrhoeae DNA
technologies in the STD area as well as HPV Genotyping in the Cervical
Precancer area and Cytomegalovirus DNA technology in immunocompromised and
organ transplant area. The expanded core area pursued by the company is
Hepatitis B, the product profile is represented by HBV DNA and HBV genotype on
real time PCR technology in therapeutic monitoring of chronically infected
liver patients. Soon, the molecular tests for HCV RNA quantitative and
genotyping as well as HIV-1 RNA tests are scheduled for launch.
The Company pursues active interest in promoting MOLECULAR BIOLOGY DIAGNOSTICS
and SPECIALTY IMMUNODIAGNOSTICS in the area of HIV/ AIDS, HEPATITIS, CANCER and
AUTOIMMUNE Markers and other tropical diseases diagnostics such as MALARIA,
TUBERCULOSIS, DENGUE, SALMONELLA etc. for immediate future expansion plans.
Some of the major projects being followed by the Company are directed towards
development of chimaeric HPV vaccine, development of Tuberculosis diagnostic
assays, BCG Booster and setting up of the BioBanks in
The promoter of the Company, Dr Dinesh Gupta, is himself considered as an
experts and an important resource centre in the cervical cancer and sexually
transmittable infections. He is an executive (life) member of Indian
Association for Cancer Research (IACR); a life member of Indian Menopause
Society (IMS); Association of Gynaecologic Oncologists of India (AGOI); Indian
Society for Colposcopy and Cervical Pathology (ISCCP) and Asia-Oceania Research
Organization in Genital Infections and Neoplasia (AOGIN). He has been engaged
in conducting CMEs all over
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.