MIRA
INFORM REPORT
|
Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
LIFELINE SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-40, 1st Floor, Okhla Industrial Area, Phase I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
27.10.1980 |
|
|
|
|
Com. Reg. No.: |
55-025889 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1986PTC025889 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 67000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However 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 at usual
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Sanjay Agarwal |
|
Designation : |
Director |
|
Contact No.: |
91-11-41640924 |
|
Date : |
07.01.2011 |
LOCATIONS
|
Registered Office : |
F-40, 1st Floor, Okhla Industrial Area, Phase I, |
|
Tel. No.: |
91-11-41640924 / 41640925 / 41640926 |
|
Fax No.: |
91-11-40523027 / 26810652 |
|
E-Mail : |
DIRECTORS
(AS ON 27.09.2010)
|
Name : |
Iti Aggarwal |
|
Designation : |
Director |
|
Address : |
W 39, Greater Kailash, Part II, |
|
Date of Birth/Age : |
09.04.1978 |
|
Date of Appointment : |
08.08.2002 |
|
DIN No.: |
00789712 |
|
|
|
|
Name : |
Mr. Sanjay Aggarwal |
|
Designation : |
Director |
|
Address : |
W 39, Greater Kailash, Part II, |
|
Date of Birth/Age : |
01.08.1972 |
|
Date of Appointment : |
09.11.1995 |
|
DIN No.: |
00839159 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sanjay Aggarwal |
|
99939 |
|
Iti Aggarwal |
|
61 |
|
Total |
|
100000 |
|
|
|
|
AS ON 30.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Trader of Surgical Disposable. |
GENERAL INFORMATION
|
No. of Employees : |
35 [Approximately] |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
SAM and Associates Chartered Accountants |
|
Address : |
A – 48, LGF, Dayanand Colony, Lajpat Nagar – IV, New Delhi – 110024,
India |
|
|
|
|
Associates : |
|
|
|
|
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Share |
Rs. 100/- each |
Rs. 25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Share |
Rs. 100/- each
|
Rs. 10.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.715 |
6.143 |
0.129 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.715 |
16.143 |
6.129 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.121 |
32.675 |
14.010 |
|
|
2] Unsecured Loans |
5.633 |
3.214 |
2.703 |
|
|
TOTAL BORROWING |
35.754 |
35.889 |
16.713 |
|
|
DEFERRED TAX LIABILITIES |
0.168 |
0.037 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
52.637 |
52.069 |
22.842 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.809 |
19.324 |
19.363 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
36.469
|
19.579 |
4.082 |
|
|
Sundry Debtors |
53.923
|
19.853 |
1.423 |
|
|
Cash & Bank Balances |
0.200
|
0.434 |
1.528 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.133
|
9.851 |
0.703 |
|
Total
Current Assets |
97.725
|
49.717 |
7.736 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.497
|
8.690 |
3.484 |
|
|
Other Current Liabilities |
14.972
|
5.520 |
0.807 |
|
|
Provisions |
2.512
|
2.867 |
0.097 |
|
Total
Current Liabilities |
65.981
|
17.077 |
4.388 |
|
|
Net Current Assets |
31.744
|
32.640 |
3.348 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.084 |
0.105 |
0.131 |
|
|
|
|
|
|
|
|
TOTAL |
52.637 |
52.069 |
22.842 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
203.284 |
98.465 |
|
|
|
Other Income |
|
1.380 |
0.728 |
|
|
|
TOTAL |
|
204.664 |
99.193 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
201.301 |
89.595 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.363 |
9.598 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
2.511 |
0.663 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
0.848 |
8.935 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
NA |
3.329 |
|
|
|
|
|
|
|
|
|
|
CIF Value |
|
NA |
9.068 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
NA |
60.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.42
|
9.07 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.72
|
12.94 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.55 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.09
|
3.28 |
3.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
2.91 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs in Millions
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors (Finished Goods) |
47.230 |
7.918 |
3.484 |
|
Sundry Creditors (Others) |
1.267 |
0.772 |
0.000 |
|
Total
|
48.497 |
8.690 |
3.484 |
|
|
|
|
|
NOTE
Registered office of the company has been shifted from F-63, Okhla
Industrial Area, Phase I,
OPERATIONS
The company is performing very well in its existing business and also
added some new products to its robust product portfolio. Besides the company as
its policy has decided to diversify into new avenues of medicine field.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U74899DL1986PTC025889 |
|
Name of the company |
LIFELINE SERVICES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
F-40, 1st Floor, Okhla Industrial Area-I, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10098135 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Bank of |
|
Nature of instrument creating charge |
No Instrument. Oral Assent for extension of equitable mortgage |
|
Date of instrument Creating the charge |
01.09.2010 |
|
Amount secured by the charge |
Rs. 38.900 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
(a)
Rate of interest Cash Credit (Hypothecation of Stocks and Book debts) : @ 4% over
bank's Base Rate, presently 12.00% p. a. with monthly rests. Term Loan : @ 5% over bank's Base Rate, presently 13.00% p. a. with
monthly rests. (b)
Terms of repayment Cash Credit : Payable on demand. Term Loan : Repayable in 60 monthly installments of Rs. 0.234 Millions
each, commencing from October, 2008. Installments up to July, 2010 paid. (c)
Margin 25% against raw material, finished goods, stores and goods in process. 35% against book-debts outstanding for 3 months. 100% against book-debts outstanding for more than 3 months to less
than 6 months, 42.96% for Term Loan. (d)
Extent and operation of the charge 100 percent. |
|
Short particulars of the property or asset(s) charged (including complete
address and location of the property) |
Equitable mortgage by deposit of title deeds in respect of immovable
property of the company being all that piece of land with buildings, sheds
and structures standing thereon situate at Industrial Plot No. A-47,
Sector-8, Noida, Gautam Budh Nagar, (UP) owned by the company admeasuring 800
Square Meters. |
|
Particulars of the present modification |
The amount of charge over immovable property of the company as
mentioned in col. no.15 above stands reduced from Rs.53.500 Millions to
Rs.38.900 Millions to secure a Cash Credit (Hypothecation of Stocks and Book
debts) limit of Rs.30.000 Millions and Term Loan (O/S) of Rs.8.900 Millions
granted by the bank to the company. Other terms and conditions remained same. |
FIXED ASSETS
- Land
- Building
(Leasehold), Noida
- Plant and
Machinery
- Dies and
Moulds
- Fax Machine
- Closed circuit camera
- Digital TV
- Office
Equipments
- Telecom
Equipments
- Computer
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 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.45.44 |
|
|
1 |
Rs.70.61 |
|
Euro |
1 |
Rs.58.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--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 |
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 |
YES |
|
--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.