logo

 

MIRA INFORM REPORT

 

 

Report Date :

20.04.2011

 

IDENTIFICATION DETAILS

 

Name :

NEPHROLIFE CARE (INDIA) PRIVATE LIMITED

 

 

Registered Office :

No.2, Setlur Street, Shnthinagar, Bangalore-560 027, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

23.07.2008

 

 

Com. Reg. No.:

08-047257

 

 

CIN No.:

[Company Identification No.]

U33119KA2008PTC047257

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The company is a Hospital

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (11)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a company having moderate track. There appears a huge accumulated losses recorded by the company. Profitability position of the company under severe pressure. However, trade relations are fair. Payments are reported to be slow.

 

The company can be considered for business dealings on a secured trade terms and conditions.

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LOCATIONS

 

Registered Office :

No.2, Setlur Street, Shnthinagar, Bangalore-560 027, Karnataka, India

Tel. No.:

91-80-43319999/ 42068470

Fax No.:

91-80-43319988/ 40919033

E-Mail :

info@nephrolife.in

shriram@nephrolifecare.com

Website :

www.nephrolife.in

 

 

DIRECTORS

 

As on 13.09.2010

Name :

Mr. Shriram Vijaykumar

Designation :

Managing Director

Address :

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

04.10.1980

Date of Appointment :

01.06.2009

DIN No.:

00428025

 

 

Name :

Mr. Devkumar Roy

Designation :

Director

Address :

Apartment No.4B, Nithesh May Fair, # 31, Kasturba Cross Road, Bangalore - 560 001, Karnataka, India

Date of Birth/Age :

13.05.1973

Date of Appointment :

01.06.2009

DIN No.:

02285374

 

 

Name :

Mr. Krishnamoorthy Vijaykumar

Designation :

Director

Address :

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

28.08.1950

Date of Appointment :

23.07.2008

DIN No.:

00412430

 

 

Name :

Mr. Romesh Mulk Raj Madhok

Designation :

Director

Address :

# 327, 5th Main Road, Koramangalam, 1st Block, Bangalore - 560 034, Karnataka, India

Date of Birth/Age :

09.10.1945

Date of Appointment :

30.09.2010

DIN No.:

02416559

 

 

Name :

Mr. Apu Sorabh Subhash Gupta

Designation :

Director

Address :

2036 Blue Jacket Way, San Jose 95133

Date of Birth/Age :

26.07.1975

Date of Appointment :

30.09.2010

DIN No.:

02611371

 

 

 

 

As on 13.09.2010

 

Names of Shareholders

 

Address

No. of Shares

Krishnamoorthy Vijaykumar

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

11000

Rukmini Vijaykumar

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

50000

Vivekanand Padmanabhaban

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

50000

Harsh Parikh

# 211, Silver Arch, 66A, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India

50000

Hans Taparaia

# 222E, 34th Street, Apartment 1506, New York, NY 10016

39500

Srinath Gaddam

# 121, Lincoln Steet, Lexington, Massachussetts MA 02421, USA

48650

Sonali Roy Venugopal

# 1919, Somersworth Drive, San Jose, CA 95124, USA

712650

Jose Buil Castonan

# 32, Albert Gall Mansions, Kensington Gore, SW7 2 AW, UK

579600

Romesh Madhok

# 327, 5th Main Road, Koramangalam, 1st Block, Bangalore - 560 034, Karnataka, India

500000

ROI Capital Advisors

# 11, SMR House, Convent Road, Richmond Town, Bangalore – 560 001, Karnataka, India

2200000

Dev Kumar Roy

Apartment No.4B, Nithesh May Fair, # 31, Kasturba Cross Road, Bangalore - 560 001, Karnataka, India

5000

Shriram Vijaykumar

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

4000

 

Total

4250400

 

As on 13.12.2010

 

Names of Allottees

 

Address

No. of Shares

Dev Kumar Roy

Apartment No.4B, Nithesh May Fair, # 31, Kasturba Cross Road, Bangalore - 560 001, Karnataka, India

60000

ROI Capital Advisors Private Limited

# 11, SMR House, Convent Road, Richmond Town, Bangalore – 560 001, Karnataka, India

600000

Romesh Madhok

# 327, 5th Main Road, Koramangalam, 1st Block, Bangalore - 560 034, Karnataka, India

120000

Sonali Roy Venugopal

# 1919, Somersworth Drive, San Jose, CA 95124, USA

230000

Shriram Vijaykumar

No.1, Chainmaya Apartments, Puttanna Road, Basavangudi, Bangalore – 560 004, Karnataka, India

45000

 

Total

1055000

 

As on 13.09.2010

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of Directors

 

100.00

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The company is a Hospital

 

 

GENERAL INFORMATION

 

Bankers :

·         HSBC Bank Limited

·         State Bank of Mysore

 

 

Facilities :

Unsecured Loans

31.03.2010

Rs. In Millions

31.03.2009

Rs. In Millions

Sriram Vijay Kumar – Director

0.021

0.043

Loan from ROI Capital – Shareholding Company

4.339

0.000

Total

4.360

0.043

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

Srinaga and Giridharan

Chartered Accountants

Address :

# 136/1, 1st Floor, 5th Main, Chamrajpet, Bangalore – 560 018, Karnataka, India

Tel. No.:

91-80-26616391

Telefax No.:

91-80-26615548

PAN of auditor or auditor's firm :

AAKFS8374F

 

 

CAPITAL STRUCTURE

 

After 13.09.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

6000000

Equity Shares

Rs.10/- each

Rs.60.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

5305400

Equity Shares

Rs.10/- each

Rs.53.054 Millions

 

 

 

 

 

As on 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

4900000

Equity Shares

Rs.10/- each

Rs.49.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

4251250

Equity Shares

Rs.10/- each

Rs.42.513 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

42.513

0.100

2] Share Application Money

 

0.002

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

(7.849)

0.000

NETWORTH

 

34.666

0.100

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.000

2] Unsecured Loans

 

4.360

0.043

TOTAL BORROWING

 

4.360

0.043

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

39.026

0.143

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

29.260

0.058

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.264

0.000

 

Sundry Debtors
 

0.181

0.000

 

Cash & Bank Balances
 

1.836

0.048

 

Other Current Assets
 

3.813

0.000

 

Loans & Advances
 

2.409

0.000

Total Current Assets
 

8.503

0.048

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

1.572

0.005

 

Other Current Liabilities
 

0.000

0.000

 

Provisions
 

1.503

0.000

Total Current Liabilities
 

3.075

0.005

Net Current Assets
 

5.428

0.043

 

 

 

 

MISCELLANEOUS EXPENSES

 

4.338

0.042

 

 

 

 

TOTAL

 

39.026

0.143

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2010

 

SALES

 

 

 

 

 

Income

 

 

1.139

 

 

Other Income

 

 

0.101

 

 

Closing Stock

 

 

0.264

 

 

TOTAL                                     (A)

 

 

1.504

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases

 

 

1.084

 

 

Administrative Cost

 

 

4.282

 

 

Employee Cost

 

 

1.871

 

 

Preliminary Expenses Written off 

 

 

0.620

 

 

TOTAL                                     (B)

 

 

7.857

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

 

 

(6.353)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

 

 

0.082

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

 

(6.435)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

 

1.414

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

 

 

(7.849)

 

 

 

 

 

Less

TAX                                                                  (H)

 

 

0.000

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

 

(7.849)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

 

0.000

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

 

 

(7.849)

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

(2.00)

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2010

31.03.2009

PAT / Total Income

(%)
 

(522.22)

NA

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

(689.11)

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

(20.79)

NA

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

(0.23)

NA

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

0.21

0.48

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

2.76

9.60

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Note:

The registered office of the company has been shifted from No.1, Chinmay Apartments, Puttanna Road, Basavanagudi, Bangalore – 560 004, Karnataka to the present address w.e.f. 01.06.2009

 

FIXED ASSETS:

 

·         Building – Interiors

·         Computer

·         Computer Software

·         Plant and Machinery

·         Printer

·         Furniture and Fittings

·         Software

·         Vehicle

·         Trade Mark

·         Web Design and Hosting

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records 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.44.68

UK Pound

1

Rs.72.56

Euro

1

Rs.63.53

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

-

--CREDIT LINES

1~10

-

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

 

11

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.