MIRA
INFORM REPORT
|
Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUYOG DIAGNOSTIC PRIVATE LIMITED |
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Registered
Office : |
5th Floor, Indus House, B-53, Opposite Monginis Factory, Off
New |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.07.1991 |
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Com. Reg. No.: |
11-062661 |
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Capital Investment/
Paid-up Capital: |
Rs. 7.233
Millions |
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CIN No.: [Company Identification
No.] |
U51109MH1991PTC062661 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
MUMS37228C |
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PAN No.: [Permanent
Account No.] |
AAACS7262 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Diagnostic Kits, Instruments, etc |
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No. of
Employees; |
120 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 69000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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.
INFORMATION PARTED BY
|
Name : |
Mr. Anil |
|
Designation : |
Account Manager |
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Date : |
03.06.2011 |
LOCATIONS
|
Registered Office : |
5th Floor, Indus House, B-53, Opposite Monginis Factory,
Off New Link Road, Andheri, Mumbai-400053, Maharashtra, India |
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Tel. No.: |
91-22-42462000 |
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Mobile No.: |
91-9868577989 (Mr. Akshay Goel) |
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Fax No.: |
91-22-42462005 |
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E-Mail : |
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Website : |
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Area : |
10000 sq.fts |
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Location : |
Owned |
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Administrative Office : |
Noble Group, F – 315, Lado Sarai (Near Qutab Minar), M B Road, New
Delhi – 110030, Delhi, India |
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Tel. No.: |
91-11-29521347/ 29521438 |
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Fax No.: |
91-11-29521438/ 29521487 |
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E mail: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mahendra Prasad Jain |
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Designation : |
Whole time Director |
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Address : |
S – 287, |
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Date of Birth/Age : |
24.03.1934 |
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Date of Appointment : |
01.11.1996 |
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DIN No.: |
00195382 |
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Name : |
Mr. Surendra Keshavdeo Ruia |
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Designation : |
Whole time Director |
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Address : |
75, Ruia House, |
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Date of Birth/Age : |
25.11.1946 |
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Date of Appointment : |
25.07.1991 |
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DIN No.: |
00425063 |
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Name : |
Mr. Sumaj Mahendra Jain |
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Designation : |
Director |
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Address : |
S – 287, |
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Date of Birth/Age : |
17.12.1964 |
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Date of Appointment : |
08.04.2004 |
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DIN No.: |
00452831 |
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Name : |
Mr. Rajesh Ram Maheshwari |
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Designation : |
Director |
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Address : |
3162, Sitaram Bazar, |
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Date of Birth/Age : |
21.09.1964 |
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Date of Appointment : |
15.03.1999 |
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DIN No.: |
0045267 |
KEY EXECUTIVES
|
Name : |
Mr. Anil |
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Designation : |
Account Manger |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Shashikala Rula |
|
19060 |
|
Surendra Ruia |
|
14712 |
|
Shanti Ruia |
|
3000 |
|
M P Jain |
|
13400 |
|
Sudha Jain |
|
1500 |
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Sumaj Jain |
|
1547 |
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Parul Jain |
|
3000 |
|
Era Jain |
|
3000 |
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Yogendra Shah |
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1 |
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Suvidhi Ruia |
|
13012 |
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Nikita Ruia |
|
50 |
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Keshavdeo S Ruia - HUF |
|
50 |
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Total |
|
72332 |
Equity Share Breakup (Percentage of Total Equity)
As On 30.09.2010
|
S. No. |
Category |
Percentage |
|
1 |
Directors or
relatives of Directors |
100.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Diagnostic Kits, Instruments, etc |
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Agencies Held : |
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Imports : |
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Products : |
Diagnostic Kits, Instruments |
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Countries : |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
CLIENT LIST OF DIAGNOSTICS
DIVISION:
CLIENT LIST OF LIFE SCIENCE
DIVISION:
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit – Rs.973.400 Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dinesh Tibarewala and Associates Chartered Accountant |
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Address : |
C/210, Sahakar Apartment, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72332 |
Equity Shares |
Rs.100/-
each |
Rs. 7.233
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 |
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1] Share Capital |
7.233 |
9.965 |
9.965 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.223 |
5.003 |
3.597 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.456 |
14.968 |
13.562 |
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|
LOAN FUNDS |
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1] Secured Loans |
23.519 |
20.958 |
22.327 |
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2] Unsecured Loans |
9.605 |
5.285 |
5.756 |
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TOTAL BORROWING |
33.124 |
26.243 |
28.083 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
50.580 |
41.211 |
41.645 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.086 |
13.925 |
11.915 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.467 |
0.214 |
0.095 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.241
|
11.034 |
8.822 |
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Sundry Debtors |
53.654
|
64.079 |
56.375 |
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Cash & Bank Balances |
0.385
|
0.452 |
2.006 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
9.000
|
6.131 |
3.746 |
|
Total
Current Assets |
73.280
|
81.696 |
70.949 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
26.466
|
45.517 |
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Other Current Liabilities |
10.790
|
9.111 |
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Provisions |
0.000
|
0.000 |
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Total
Current Liabilities |
37.256
|
54.628 |
41.319 |
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|
Net Current Assets |
36.024
|
27.068 |
29.630 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.004 |
0.005 |
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TOTAL |
50.580 |
41.211 |
41.645 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Turnover |
167.978 |
171.215 |
141.748 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
0.208 |
0.000 |
0.117 |
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TOTAL EARNINGS |
0.208 |
0.000 |
0.117 |
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IMPORTS |
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Import Value |
104.755 |
106.669 |
93.702 |
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TOTAL IMPORTS |
104.755 |
106.669 |
93.702 |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
200.000 |
The above information has been parted by Mr. Anil (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.03
|
5.40 |
6.12 |
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Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.50 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
(Rs. in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors for goods |
26.466 |
45.517 |
Not Available |
|
Total |
26.466 |
45.517 |
Not Available |
Note:
The Registered office of the company has been
shifted from Stadium 7 M House, Block No. 16th Floor, V N Road,
Churchgate, Mumbai,
FINANCIAL RESULTS
The Company has achieved a turnover of Rs. 167.978 Millions during the
Financial Year ending 31st March 2010 as against Rs. 171.215 Millions during
the previous year. Despite a downturn in Life Science Division business, the
company managed to compensate the shortfall in the Sales related to Life
Science Division and achieve the Turnover almost equal to the Turnover of
previous year with the help of increase in the demand and sales of reagents.
During the year, the Company is engaged in marketing of Diagnostics Kits,
Reagents and Instruments, which are used in Hospitals, Laboratories and Blood
Banks from the suppliers i.e. M/s. Agdia - U.S.A., M/s Orgenics -Israel, M/s.
Diasoriri -Italy and Spain M/s. Bio Sysytems -Spain, M/s. M.P. Bio Medicals
-Singapore, M/s. Diagnostica Stago –France
FUTURE PROSPECTS
The new line of Business activity going to be started by the Company
i.e. Diagnostic Instruments which will be imported from M/s Rudof Riester GmbH
- Germany and a new line of products which will be imported from M/s. TEM
Innovations - Germany, DAKO - Denmark, are expected to show great results.
Another promising product line has been started with M/s. SFRI Sari -
The Company has now has a complete range of diagnostic products in all
price ranges.
The Turnover of the Company for the financial year 2010 - 2011 is
expected to be Rs. 200.000 Millions/ and
set to achieve better result.
The Company has all
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U51109MH1991PTC062661 |
|
Name of the
company |
SUYOG DIAGNOSTICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5th Floor, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge Others |
|
Particular of
charge holder |
Union Bank of |
|
Nature of
instrument creating charge |
Composite
Hypothecation Deed Date. 21-10-2009 |
|
Date of
instrument Creating the charge |
21.10.2009 |
|
Amount secured by
the charge |
Rs.9.734 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest On Cash
Credit Bplr+1.00% Terms of
Repayment Repayment As Per
Bank Norms Margin Margin As Per
Bank Norms Extent and Operation
of the charge First Charge on
Stocks, Book Debts, Current Assets And Fixed Assets of The Company Present
And Future Is To Secure The Cash Credit(Stocks And Book Debts)Rs.95lac And Bg
Rs.0.234 Million Aggregating To Rs.9.734 Millions |
|
Short particulars
of the property charged |
First Charge on
Stocks,Book Debts,Current Assets And Fixed Assets of The Company Present And
Future |
|
Description of
the property charged indicating whether it is a charged on |
Immovable
properties |
Fixed Assets
· Furniture and Fixture
· Office Equipment
· Vehicles
· Air Conditioner
· Computer
· Xerox Machine
· Equipment
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.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--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.