MIRA
INFORM REPORT
|
Report Date : |
14.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHOKSHI IMAGING LIMITED |
|
|
|
|
Formerly Known
As : |
SELVAS PHOTOGRAPHICS LIMITED |
|
|
|
|
Registered
Office : |
Gala No. D – 10, Prasad Industrial Estate, Survey No.2, and 66,
Sativali, Vasai Kaman Road, Vasai, Thane – 401208, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.10.1992 |
|
|
|
|
Com. Reg. No.: |
11-068852 |
|
|
|
|
CIN No.: [Company Identification
No.] |
L2429MH1992PLC068852 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS29506B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS5708D |
|
|
|
|
Legal Form : |
Public Limited
Liability Company. The company’s
shares are listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Trading in Photosensitised materials and other
products for Healthcare Industry. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 624400 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for 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. Vasudev Sohoni |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40929999 |
|
Date : |
14.01.2011 |
LOCATIONS
|
Registered Office : |
Gala No. D – 10, Prasad Industrial Estate, Survey No.2, and 66, Sativali,
Vasai Kaman Road, Vasai, Thane – 401208, Maharashtra, India |
|
Tel. No.: |
91-95250-2480941 |
|
Fax No.: |
91-95250-2480941 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located at:
|
DIRECTORS
AS ON 20.09.2010
|
Name : |
Mr. Choksi Vadilal Anil |
|
Designation : |
Managing Director |
|
Address : |
3, Jaihind Society, N S Road No.12, JVPD Scheme, Vile Parle (w),
Mumbai – 400049, |
|
Date of Birth/Age : |
07.04.1932 |
|
Date of Appointment : |
01.10.1992 |
|
|
|
|
Name : |
Mr. Choksi Vadilal Suresh |
|
Designation : |
Whole Time Director |
|
Address : |
25, Nutan Laxmi Society, NS Road No.9, JVPD Scheme, Vile Parle (W),
Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
29.05.1940 |
|
Date of Appointment : |
01.10.1992 |
|
|
|
|
Name : |
Mr. Choksi Kanubhai Samir |
|
Designation : |
Whole Time Director |
|
Address : |
13, Jaihind Society, NS Road No. 12, JVPD Scheme, Vile Parle (W),
Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1964 |
|
Date of Appointment : |
01.10.1992 |
|
|
|
|
Name : |
Mr. Choksi Nalin Naimish |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
30.01.1954 |
|
Date of Appointment : |
01.10.1992 |
|
|
|
|
Name : |
Mr. Maniar Vadilal Vikram |
|
Designation : |
Director |
|
Address : |
K 05, Kutir, Ram Lakshman, Kutir Co-Operative Housing Society, Azad
Lane, Off S V Road, Andheri (W), Mumbai – 400058, Maharashtra |
|
Date of Birth/Age : |
27.07.1943 |
|
Date of Appointment : |
01.10.1992 |
|
|
|
|
Name : |
Mr. Parikh Madhuvandas Tushar |
|
Designation : |
Director |
|
Address : |
5, Vireshwar Dhara, |
|
Date of Birth/Age : |
01.08.1957 |
|
Date of Appointment : |
01.10.1992 |
|
|
|
|
Name : |
Mr. Pendse Mahadeo Sharadchandra |
|
Designation : |
Director |
|
Address : |
403, Gorakshadham, Inside Raheja’s Cascade Compound, Kulupwadi,
Borivali (E), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
19.04.1946 |
|
Date of Appointment : |
26.10.2002 |
|
|
|
|
Name : |
Mr. Kishnadwala Vasantlal Himanshu |
|
Designation : |
Director |
|
Address : |
501, New P K Nivas, |
|
Date of Birth/Age : |
06.08.1964 |
|
Date of Appointment : |
26.10.2002 |
KEY EXECUTIVES
|
Name : |
Mr. Sharma Harishankar Mandvi |
|
Designation : |
Secretary |
|
Address : |
D – 101, Geeta Nagar, Phase 8, |
|
Date of Birth/Age : |
29.01.1980 |
|
Date of Appointment : |
13.01.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Category
of Shareholders |
No. of Shares |
Percentage |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
42000 |
1.08 |
|
Any Others (Specify) |
1505180 |
38.59 |
|
Directors/Promoters and their Relatives
and Friends |
1505180 |
38.59 |
|
Sub Total |
1547180 |
39.67 |
|
(2)
Foreign |
|
|
|
Individuals (Non Residents Individuals /
Foreign Individuals) |
163050 |
4.18 |
|
Total shareholding of Promoter and Promoter Group (A) |
1710230 |
43.85 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
168814 |
4.33 |
|
|
|
|
|
|
1182244 |
30.31 |
|
|
682480 |
17.50 |
|
|
156232 |
4.01 |
|
Clearing Members |
6601 |
0.17 |
|
Non Resident Indians |
134131 |
3.44 |
|
Directors and their Relatives and
Friends |
15500 |
0.40 |
|
|
2189770 |
56.15 |
|
Total Public shareholding (B) |
2189770 |
56.15 |
|
Total (A)+(B) |
3900000 |
100.00 |
|
(C) Shares held by Custodians and against which
Depository Receipts have been issued |
-- |
-- |
|
Total (A)+(B)+(C) |
3900000 |
100.00 |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs.0.100 millionAS ON 20.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
3.36 |
|
Bodies
corporate |
|
4.93 |
|
Directors
or relatives of directors |
|
44.25 |
|
Other
top fifty shareholders |
|
21.95 |
|
Others |
|
25.51 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading in Photosensitised materials and other
products for Healthcare Industry. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
X – Ray Films |
Sq. Mtr |
|
5 million |
4740787 |
GENERAL INFORMATION
|
No. of Employees : |
Information Declined by the Management |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
Bank of |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Parikh and Amin Associates Chartered Accountant |
|
Address : |
B – 205, 2nd Floor, Abhinav Apartments, 302 Shradhanand Road,
Vile Parle (E), Mumbai – 400057, Maharashtra, India |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10 each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3900000 |
Equity Shares |
Rs. 10 each |
Rs.39.000
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 |
39.000 |
39.000 |
39.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
117.102 |
78.311 |
57.453 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
156.102 |
117.311 |
96.453 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
88.629 |
62.757 |
60.736 |
|
|
2] Unsecured Loans |
165.552 |
88.020 |
29.480 |
|
|
TOTAL BORROWING |
254.181 |
150.777 |
90.216 |
|
|
DEFERRED TAX LIABILITIES |
6.043 |
5.708 |
5.683 |
|
|
|
|
|
|
|
|
TOTAL |
416.326 |
273.796 |
192.352 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
73.218 |
59.229 |
35.791 |
|
|
Capital work-in-progress |
1.887 |
1.837 |
16.114 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
235.302
|
194.251 |
110.752 |
|
|
Sundry Debtors |
240.907
|
169.404 |
127.805 |
|
|
Cash & Bank Balances |
21.736
|
42.910 |
19.230 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
91.483
|
68.184 |
45.758 |
|
Total
Current Assets |
589.428
|
474.749 |
303.545 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
203.756
|
215.724 |
111.576 |
|
|
Other Current Liabilities |
7.895
|
12.252 |
12.292 |
|
|
Provisions |
36.556
|
34.043 |
39.230 |
|
Total
Current Liabilities |
248.207
|
262.019 |
163.098 |
|
|
Net Current Assets |
341.221
|
212.730 |
140.447 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
416.326 |
273.796 |
192.352 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1029.397 |
901.690 |
398.052 |
|
|
|
Other Income |
444.773 |
289.049 |
219.694 |
|
|
|
TOTAL (A) |
1474.170 |
1190.739 |
617.746 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
893.231 |
783.631 |
305.162 |
|
|
|
Cost of Trading Goods |
381.917 |
220.527 |
188.470 |
|
|
|
Manufacturing Expenses |
26.438 |
22.643 |
11.740 |
|
|
|
Selling and Administrative Expenses |
81.618 |
128.949 |
65.441 |
|
|
|
(Increase)/ Decrease in Stocks |
(10.774) |
(25.966) |
1.935 |
|
|
|
TOTAL (B) |
1372.430 |
1129.784 |
572.748 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
101.740 |
60.955 |
44.998 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.761 |
14.886 |
11.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
79.979 |
46.069 |
33.365 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.689 |
3.716 |
3.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
75.290 |
42.353 |
30.087 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.769 |
15.322 |
11.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
49.521 |
27.031 |
19.080 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period Adjustment. Net of Tax |
0.000 |
0.000 |
2.592 |
|
|
|
|
|
|
|
|
|
Less |
Short Provision of Tax |
1.634 |
0.242 |
0.171 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.810 |
53.452 |
38.426 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
1.500 |
1.000 |
|
|
|
Dividend |
7.800 |
5.070 |
4.680 |
|
|
|
Tax on Dividend |
1.295 |
0.861 |
0.795 |
|
|
BALANCE CARRIED
TO THE B/S |
106.602 |
72.810 |
53.452 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
11.604 |
33.912 |
NA |
|
|
TOTAL EARNINGS |
11.604 |
45.516 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
749.033 |
574.518 |
NA |
|
|
|
Equipments, Spares, X- Ray Accessories and Other Finished Goods |
352.641 |
232.875 |
NA |
|
|
TOTAL IMPORTS |
1101.674 |
807.393 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.28 |
6.93 |
4.89 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
30.06.2010 1st
Quarter |
30.09.2010 2nd
Quarter |
|
Net Sales |
|
386.130 |
388.130 |
|
Total Expenditure |
|
368.540 |
375.230 |
|
PBIDT (Excl OI) |
|
17.590 |
12.900 |
|
Other Income |
|
2.690 |
2.180 |
|
Operating Profit |
|
20.280 |
15.080 |
|
Interest |
|
6.800 |
6.730 |
|
Exceptional Items |
|
0 |
0 |
|
PBDT |
|
13.480 |
8.350 |
|
Depreciation |
|
1.300 |
1.180 |
|
Profit Before Tax |
|
12.180 |
7.170 |
|
Tax |
|
4.160 |
2.330 |
|
Provisions and contingencies |
|
0 |
0 |
|
Profit After Tax |
|
8.020 |
4.830 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.35
|
2.27 |
3.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.31
|
2.99 |
4.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.36
|
7.93 |
8.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.36 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.21
|
3.51 |
2.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37
|
1.81 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS AVAILABLE FOR
(Rs.
In millions)
|
PARTICULARS |
AS ON 31.03.2010 |
AS ON 31.03.2009 |
AS ON 31.03.2008 |
|
Sundry Creditors |
203.756
|
215.724 |
111.576 |
MANAGEMENT DISCUSSIONS AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS :
The Company is in the business of manufacturing and trading of
Photosensitised materials and other products for Health care Industry,
especially supplies to Hospitals and Diagnostic Centres all over
During the current year they saw a spate of mergers and
acquisitions in the Hospital Segment in
Similarly in the Diagnostic Centres, they see a trend of increase in the no of centres and also consolidation happening in the near future.
They feel that they are fortunate to be in an Industry which is likely to see immense investments and growth in the
coming years. As such the Company with an all
needs of the Hospitals and Diagnostic Centres
YEAR AT A GLANCE:
The Company has been able to achieve a lot of first time events in the year gone by.
For the first time in the History the Gross Turnover of the Company has crossed Rs.1500.00millions ie Rs.1565.000 millions. This is an increase of almost 20%. The Net turnover has increased to Rs.1470.000 millions (increase of almost 24%), leading to overall increase in Profitability. The PBIDT of the Company has increased by almost 67 % and the PBIDT margin has gone up from 5.12% to 6.90%. The PBT has increased by almost 78 % and the PBT margin from 3.56% to 5.11%. The margins would have been higher but for the extreme volatility in the Foreign Exchange movement during the year as most of the Raw Material and the Trading goods are imported.
Product-wise
performance:
The Company primarily supplies to the Hospitals and Diagnostic Centres. Broadly they classify the Company’s Products in Manufacturing and Trading. During the year the manufacturing goods turnover increased from Rs.1020.000 millions to Rs.1120.000 millions at Gross level and Rs.900.000 millions to Rs.1030.000 millions at Net level. The trading goods turnover has increased from Rs.280.000 millions to Rs.440.000 millions..
Outlook:
Going forward in FY 2010 - 2011 they do not expect similar growth rates as per previous years. The Company has grown almost four fold in the last 4 years. As such the Company is now looking at streamlining and strengthening the Systems and Infrastructure, which will lead to some investments. This may impact the profitability in the short term but will create the base for future growth. Also with the sizeable growth in turnover the interest burden has also gone up significantly and as such the Company will look at increasing the Capital Base in the current year.
At the same time looking at the growth and opportunities in the Healthcare Industry, where in the Company is one of the lew All India players supplying to most of the Hospitals and Diagnostic Centres, it is looking at adding more and more products in the Healthcare Industry. The new products may take a few years before they stabilize and start contributing to the Profitability of the Company. Also as a policy the Company, always first ties up the Sales and Marketing of the products before venturing into manufacturing. As such the trading turnover of the Company is likely to increase rather than manufacturing in the short term.
Also the Company has always been increasing its reach to
every nook and corner of the country either through its own Offices, Field
Force or through increase in the Dealer Network. The Company is as such able to
service its customers through out the Country. As such the Company today is a
preferred Company for many Multinational Companies with Hi-tech Medical
products wanting to enter
OPPORTUNITIES AND
THREATS :
With the sizeable increase in the purchasing power in
and the objective of the Government to ensure Healthcare
delivery across
Company Products is increasing all the time. Further the Company being one of the few all India Players, it will be able to tie up with more Companies to sell and market their products.
The main threat for the Company is the low entry barrier in this field wherein a lot of new players are entering the
Distribution of Healthcare products. However due to the All
India infrastructure and base the Company is confident of growing in the
increased competitive landscape. Another major threat that the Company faces is
the direct entry of Multinational Companies in
FORM 8
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10038811 |
|
Corporate
identity number of the company |
L24294MH1992PLC068852 |
|
Name of the
company |
CHOKSI IMAGING
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Gala No. D – 10, Prasad Industrial Estate, Survey No.2, and 66,
Sativali, Vasai Kaman Road, Vasai, Thane – 401208, Maharashtra, India |
|
Type of charge |
Immovable
Property Others |
|
Particular of
charge holder |
Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Upplemental Memorandum
For Extension Of Mortgage By Deposit Of Title Deeds |
|
Date of
instrument Creating the charge |
27.05.2009 |
|
Amount secured by
the charge |
Rs.245.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest : 1.25%
Below Bplr Presently 12% Per Annum With Monthly Rests (Cash Credit) : As Per Bank/ Rbi/ Fedai
Guidelines From Time To Time (Pc/ Pcfc/ Fbp/ Fbd/ Fcbp/ Fcbd) : As Per Bank Guidelines
From Time To Time (Bank Guarantee) Terms of
Repayment Fund Based :- Cash Credit
(Hypothecation Of Stocks & Book Debts) Sub Limit : C/C
Against Book Debts) Sub Limit : Pc/
Pcfc / Fbp / Fbd / Fcbp/ Fcbd (90days Da) Parked At
Silvassa Branch Non Fund Based :- Inland/ Import
L/C (90days) Cum Guarantee (Raw Material) Sub Limit :
Import Lc With 120days Usance Inland/ Foreign
Guarantees For Other Than Procurement Of R. M. (Performance/Financial) Margin 25% On Cash
Credit 10% On Cash
Margin In The Form Of Duly Discharged Fdr 10% On Bank
Guarantee (Financial And Performance) Extent and
Operation of the charge Bank Of |
|
Short particulars
of the property charged |
|
|
Particulars of
the present modification |
Charge Increased
From Rs.175.000 millions. To Rs.245.000 millions |
CONTINGENT LIABILITIES
(Rs. In millions)
|
PARTICULARS |
AS ON 31.03.2010 |
AS ON 31.03.2009 |
|
Contingent Liability in respect of |
|
|
|
Guarantee Furnished including In respective of Letter of credit |
1.283 |
1.187 |
|
Estimated amount of Contracts To be executed on capital account And not provided for |
8.112 |
0.241 |
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Vehicles
- Goodwill
- Computers
- Office
Equipments
- Office
Premises
WEBSITE DETAILS
PROFILE
"The origins of Subject started off as an importer of photographic products and as a natural extension. They diversified into Medical Imaging and in the year 2000 completely exited the photo business. This singular move enabled us to focus on Healthcare and a series of new introductions were on. Today they are major into the X-Ray Film segment and have a supply arrangement with Carestream Health which is the world's largest manufacturer of analog X-Ray Films.
From Medical/Industrial X-Ray Films forayed into Contrast Media and today has
complete range - ionics, non ionics and MRI under a loan licence Germany,
Pressure Injectors and accessories (Medtron Germany) besides a host of other
consumables used in x-ray like Apron, Illuminator, Cassettes.
They also added to the fold non-destructive testing for catering the needs of
petrochemical, aerospace, nuclear & other industrial division taking into
fold films & equipments that gives quality & safety. In NDT equipments
they are representing Protec, Colenta, Carestream for Analog as well as Digital
Solutions for the industry.
In the year 2007 they entered into import arrangements with Biosensors
International for its entire range of interventional products like coronary
stents including drug eluting and balloons for angioplast.
Last year saw the advent of Kontron, a group company of Esaote, a ultrasound
major into the fold.
They will be shortly entering into Nephrology division with Dialysis equipment
and consumables.
They are constantly looking at introducing new products which fit into the
mainstream business especially since there may not be a single medium to big
size hospital which is either using or has used the products so as to give you
one stop solution for everyone.
Subject is a public limited company and is actively traded on the BSE.
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.45.13 |
|
|
1 |
Rs.71.05 |
|
Euro |
1 |
Rs.59.10 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.