MIRA INFORM REPORT
|
Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
21ST CENTURY HEALTH MANAGEMENT SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
824, Corporate Centre, Nirmal Lifestyle Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.06.2005 |
|
|
|
|
Com. Reg. No.: |
11-153820 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 8.148
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85100MH2005PTC153820 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS482SSE |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ2314F |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Providing Health Informatics Solutions. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 74000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for 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) |
|
|
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 : |
824, Corporate Centre, Nirmal Lifestyle Complex, |
|
Tel. No.: |
91-22-25689711 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Innovation and Knowledge Centre : |
Parmeshwari Gardens Complex, Near Our Lady of Fatima Church Majiwada
Road, Thane (West)-400601l, Maharashtra,
India |
|
Tel. No.: |
91-22-25303992 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Dattaram Bhaskar Rajadhyax |
|
Designation : |
Director |
|
Address : |
B-205, Maruti Enclave, Sector 8, Plot No. 9, Airoli, Navi
Mumbai-400708, |
|
Date of Birth/Age : |
17.06.1971 |
|
Date of Appointment : |
15.02.2008 |
|
DIN No.: |
00075772 |
|
|
|
|
Name : |
Mr. Aniruddha Shardchandra Nene |
|
Designation : |
Director |
|
Address : |
Vimal Kunj, Nene Wada, Waldhunj, |
|
Date of Birth/Age : |
24.02.1971 |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00077376 |
|
|
|
|
Name : |
Mr. Vasukumar Karunakaran Nair |
|
Designation : |
Director |
|
Address : |
10, Vidya Society, Pandurangwadi, Dombivali (East) |
|
Date of Birth/Age : |
09.07.1967 |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00392699 |
|
|
|
|
Name : |
Mr. Satish Vaman Kini |
|
Designation : |
Director |
|
Address : |
2, Tukaram Niketan, |
|
Date of Birth/Age : |
24.08.1953 |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00896484 |
|
|
|
|
Name : |
Mr. Ravishankar Mani |
|
Designation : |
Director |
|
Address : |
C-302, Jolly Apartments, |
|
Date of Birth/Age : |
10.05.1963 |
|
Date of Appointment : |
15.02.2008 |
|
DIN No.: |
01253786 |
|
|
|
|
Name : |
Mr. Simanta Das |
|
Designation : |
Nominee Director |
|
Address : |
Noordwaarts 166, 2111 HN |
|
Date of Birth/Age : |
07.12.1975 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
01859386 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Satish Kini |
|
50403 |
|
Aniruddha Nene |
|
26000 |
|
Vasukuarm Nair |
|
30610 |
|
Ravishankar Mani |
|
31930 |
|
I T |
|
5483 |
|
Atul vasailkar |
|
5483 |
|
Dattarma B Rajadyax |
|
26150 |
|
Rajeev Talkar |
|
7450 |
|
Aditya Ajmera |
|
3492 |
|
Deepak Srinivas Kamath |
|
1000 |
|
Arun Sanjiv Pal |
|
1 |
|
Santosh Manjeshwar |
|
1 |
|
Surakal Kamath |
|
1 |
|
Savitri Bhatia |
|
1000 |
|
Yusuf Lanewala |
|
1000 |
|
Vikram B Gupta |
|
500 |
|
Atul K Shetty |
|
500 |
|
Vedswasti Private Limited, |
|
19735 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
9.44 |
|
Directors or relatives of Directors |
90.55 |
|
Others |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Health Informatics Solutions. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
B D Jokhakar and Company Chartered Accountant |
|
Address : |
8- Ambalal Doshi Marg, Fort, Mumbai-400001, |
|
Tel. No.: |
91-22-22654882/ 22651731 |
|
Fax No.: |
91-22-22657093 |
|
E-Mail : |
bdj@bdjokhakar.com |
|
Website: |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
13.5% Optionally Convertible Cumulative Preference shares |
Rs. 10/- each |
Rs. 6.000 Millions |
|
400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
|
|
Total |
|
Rs. 10.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
13.5% Optionally Convertible Cumulative Preference shares |
Rs. 10/- each |
Rs. 6.000 Millions |
|
214817 |
Equity Shares |
Rs. 10/- each |
Rs. 2.148
Millions |
|
|
Total |
|
Rs. 8.148 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 |
8.148 |
1.978 |
0.940 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.533 |
4.196 |
3.731 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.681 |
6.174 |
4.671 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
23.924 |
24.619 |
15.995 |
|
|
TOTAL BORROWING |
23.924 |
24.619 |
15.995 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.376 |
0.449 |
|
|
|
|
|
|
|
|
TOTAL |
42.605 |
31.169 |
21.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
27.575 |
14.561 |
11.699 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.282 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
25.334
|
23.137 |
13.439 |
|
|
Cash & Bank Balances |
7.478
|
0.430 |
0.152 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.397
|
1.335 |
2.361 |
|
Total
Current Assets |
36.209
|
24.902 |
15.952 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.742
|
3.250 |
3.406 |
|
|
Other Current Liabilities |
16.291
|
4.727 |
2.431 |
|
|
Provisions |
0.428
|
0.329 |
0.718 |
|
Total
Current Liabilities |
21.461
|
8.306 |
6.555 |
|
|
Net Current Assets |
14.748
|
16.596 |
9.397 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.012 |
0.019 |
|
|
|
|
|
|
|
|
TOTAL |
42.605 |
31.169 |
21.115 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
43.573 |
37.604 |
36.677 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.929 |
3.330 |
4.513 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.760 |
2.097 |
1.824 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.169 |
1.203 |
2.689 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.330 |
0.446 |
0.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.839 |
0.757 |
2.226 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.26 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.40
|
3.05 |
9.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.19 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.43
|
5.33 |
4.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
2.99 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from Plot No. A-5/18
Sunder Nagar, Kalina Santacruz (East), Mumbai-400098,
State of
The turnover of the company for the year Was Rs. 43.573 Millions. During
the year after providing for depreciation of Rs.2.760 Millions, Company has
earned Net Profit before tax of Rs. 2.169 Millions Provision for taxation is
made for Rs. 0.330 Million
Fixed Assets:
·
Furniture and Fixture
·
Office Equipments
·
Computers
·
Motor Car
·
IPR
AS PER WEBSITE
Profile:
21st Century Health has grown rapidly to be a leading and
most respected Health Informatics Solutions provider of choice. They have
provided Consulting services and HealthNET solutions to some of the most
respected names in Healthcare Sector in
The current client base of 21st Century Health includes the
who’s who in Indian Healthcare sector besides leading names in Middle East and
- 60 +
Hospitals
- 150 +
Pathology Labs
- 200 +
Diagnostic, Cardiology,
- 25 +
Tele-radiology and Tele-pathology centres
21st Century Health has a committed team of qualified and
experienced professionals who are Doctors, MHAs, MHMs, MBA, Cost Accountants,
Medical Technologists and IT professionals. More than just being professional they
are passionate about applying their domain specializations in Hospital Planning
and Management, Quality Consulting, Hospital Costing, Assessors for Quality
Accreditation like JCI/NABH/NABL, Change Management and Business Process
Improvements/ Reengineering, and Information and CommunicationsTechnology
based solutions for the healthcare sector.
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.44.46 |
|
|
1 |
Rs.71.67 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.