MIRA
INFORM REPORT
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Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
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Name : |
XL ORTHOMED PRIVATE LIMITED |
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Registered
Office : |
WZ-622D, “Kochhar Tower”, Shiv Nagar Extension, New Delhi-110058 |
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Country : |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
28.07.1992 |
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Com. Reg. No.: |
55-49731 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.400 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1992PTC049731 |
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IEC No.: |
0593045157 |
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PAN No.: [Permanent Account No.] |
AAACX0056G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Orthopedic Implants and Instruments. |
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No. of Employees
: |
Above 100 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 8600 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management has not filed the financials of the company with the government
departments after 2007. However trade relations are reported as fair. Business
is active. Payment terms are not known. The company can be considered for business dealings with some caution.
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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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Tamanjeet Kochar |
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Designation : |
Director |
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Contact No.: |
91-9871998833 |
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Date : |
09.07.2011 |
LOCATIONS
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Registered Office : |
WZ-622D, “Kochhar Tower”, Shiv Nagar Extension, New Delhi-110058,
India |
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Tel. No.: |
91-11-42851228/ 42851229 |
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Mobile No.: |
91-9871998833 (Mr. Tamanjeet Kochar) |
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Fax No.: |
91-11-42851229/ 42851228 |
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E-Mail : |
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Website : |
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Area : |
5000 sq.ft. (Owned) |
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Factory : |
Plot No. 8 and 9, Industrial Development Corporation, Sarail Khwaja,
Gurukul, Faridabad-121003, |
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Tel. No.: |
91-129-6514989/ 2501183 |
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Fax No.: |
91-129-2510173 |
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Area : |
Owned |
DIRECTORS
As on 20.09.2007
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Name : |
Mr. Gurbachan Singh Kochar |
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Designation : |
Director |
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Address : |
G Block, L 13, Hari Nagar, New Delhi-110058, |
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Date of Birth/Age : |
17.06.1950 |
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Qualification : |
Diploma in Export Management |
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Date of Appointment : |
28.07.1992 |
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Name : |
Mr. Tamanjeet Kochar |
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Designation : |
Director |
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Address : |
W-40, Greater Kailash Part 1, New Delhi-1210048, |
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Date of Birth/Age : |
20.09.1984 |
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Qualification : |
Diploma in Export Management |
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Date of Appointment : |
01.12.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Orthopedic Implants and Instruments. |
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Products : |
Spinal ·
Multi Directional Coupling Transverse Rod ·
Transverse Rod Connector ·
Spondylosis Plate ·
Spondylosis Screw ·
Pedicle Screw System Hip ·
Bi-Polar Modular Hip System ·
Total Hip Replacement Knee ·
Total Knee Replacement ·
Interference Screw ·
Endo-Buttons Nailing ·
Short femoral Nail ·
Femoral Nail ·
Tibial Nail ·
Humeral Nail |
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Exports : |
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Products : |
Orthopedic Implants and Instrument |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
Above 100 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Singhalmath and Company Chartered Accountant |
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Address : |
B-21, Lajpat Nagar Part 1, New Delhi-110024, |
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Tel. No.: |
91-11-26412946 |
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Mobile No.: |
91-9212253491/ 9811711531 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.400
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.400 |
0.400 |
0.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.773 |
1.706 |
1.554 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.173 |
2.106 |
1.954 |
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LOAN FUNDS |
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1] Secured Loans |
3.069 |
2.761 |
2.126 |
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2] Unsecured Loans |
0.206 |
0.206 |
0.291 |
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TOTAL BORROWING |
3.275 |
2.967 |
2.417 |
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DEFERRED TAX LIABILITIES |
0.397 |
0.371 |
0.343 |
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TOTAL |
5.845 |
5.444 |
4.714 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.811 |
3.013 |
3.201 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.036 |
0.036 |
0.036 |
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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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Inventories |
1.652
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1.867 |
2.618 |
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Sundry Debtors |
2.924
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2.297 |
1.495 |
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Cash & Bank Balances |
0.105
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0.030 |
0.156 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.538
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0.577 |
0.672 |
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Total
Current Assets |
5.219
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4.771 |
4.941 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.804
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3.170 |
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Other Current Liabilities |
0.417
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0.326 |
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Provisions |
0.000
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0.000 |
0.294 |
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Total
Current Liabilities |
2.221
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2.376 |
3.464 |
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Net Current Assets |
2.998
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2.395 |
1.477 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.845 |
5.444 |
4.714 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Income |
8.330 |
7.819 |
6.654 |
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Other Income |
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TOTAL (A) |
8.330 |
7.819 |
6.654 |
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Less |
EXPENSES |
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Administrative Expenses |
7.634 |
7.062 |
5.916 |
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Advertising Expenses |
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TOTAL (B) |
7.634 |
7.062 |
5.916 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.696 |
0.757 |
0.738 |
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Less |
INTEREST (D) |
0.334 |
0.328 |
0.202 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.362 |
0.429 |
0.536 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.209 |
0.209 |
0.327 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.153 |
0.220 |
0.209 |
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Less |
TAX (H) |
0.087 |
0.068 |
0.103 |
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PROFIT AFTER TAX
(G-H) (I) |
0.066 |
0.152 |
0.106 |
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Earnings Per
Share (Rs.) |
1.65 |
-- |
-- |
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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45.000 |
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Expected Sales (2011-2012) : Rs. 50.000 Millions
The above information has been parted by Mr. Tamanjeet Kochar.
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.79
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1.94 |
1.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.91
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2.83 |
2.57 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07
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0.10 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.53
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2.54 |
3.01 |
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Current Ratio (Current Asset/Current Liability) |
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2.35
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2.01 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Register office of the company has been shifted from E-25/B-1,
Extension Mohan Co-Operative Industrial Estate, Badarpur, New Delhi-110044,
Trade References
- AIIMS
Operations:
The company has posted a turnover of Rs. 8.330
Millions as compared to Rs. 7.819 Millions of previous year. The profit during
the year before tax is Rs. 0.153 Million as compared to Rs. 0.220 Million of
the previous year.
Bankers Charges
Report as per Registry
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Name of the company |
XL ORTHOMED PRIVATE LIMITED |
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Presented By |
Canara Bank |
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1) Date and description of instrument creating the change |
Cash Credit Agreement Dated : 13.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
a) The whole of the borrower’s present and future stocks of raw materials, goods-in-process of manufacturer and all finished and manufactured goods and article together with all stores, components and spares which now belong to or may hereafter form time to time, during the continuance of this security, belong to the borrower and which are or shall or may be brought into stored or be in or upon or about the borrower’s factory, godown and/ or other premises including those in transit. b) All the Borrower’s present and future book debts, outstanding monies, receivables, claims, bills, rights to or in movable properties and movable assets and which are now due, owing or payable or belonging to the borrower or which may at any time hereafter during the continuance of this security become due, owing, payable or belonging to the borrower in the course of its business as security. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure CC limit of Rs. 2.000 Millions. Interest @ 1.75% p.a. above PLR rate with a minimum of 12.50% p.a or at such other rate(s) as may be specified by the bank form time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Lajpat Nagar, |
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6) Date and brief description of instrument modifying the charge |
NIL |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NIL |
Fixed Assets:
·
Plant and Machinery
·
Mobile Phone
·
Vehicles
·
Generator
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Furniture and Fixture
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Cycle
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Computer
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Fans and Coolers
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Pager
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Time Keeping Watch
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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.44.37 |
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|
1 |
Rs.70.83 |
|
Euro |
1 |
Rs.62.95 |
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 |
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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.