MIRA
INFORM REPORT
|
Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
KOMAL HEALTHCARES PRIVATE LIMITED |
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|
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Registered Office
: |
F 118, Gaurav Garden, Opp. Bharat Petrol Pump, Mira Road
(E), Mumbai – 401 107, Maharashtra |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
14.07.2003 |
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Com. Reg. No.: |
11-141314 |
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Capital
Investment / Paid-up Capital : |
Rs.0.938 million |
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|
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CIN No.: [Company Identification
No.] |
U24230MH2003PTC141314 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK06856D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of healthcare and medical Products. |
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|
No. of Employees
: |
45 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 36000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
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 small to mediocre business dealing
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 PARTED BY
|
Name : |
Mr. Sunil Lalubhai Goti |
|
Designation : |
Director |
|
Contact No.: |
91-9323456101 |
|
Date : |
04.06.2011 |
LOCATIONS
|
Registered Office : |
F 118, Gaurav Garden, Opp. Bharat Petrol Pump, Mira Road
(E), Mumbai – 401 107, Maharashtra, India |
|
Tel. No.: |
91-22-28124444 / 28118555 / 28106666 / 28197777 |
|
Mobile No.: |
91-9323456101 (Mr. Sunil Goti) |
|
Fax No.: |
91-22-28552555 |
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E-Mail : |
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Website : |
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|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Zenium House, Satya Sai Industrial Estate, Fatak R,
Bhayander (East), Mumbai, |
|
Area : |
700 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
(As on 30.09.2010)
|
Name : |
Mr. Sunil L. Goti |
|
Designation : |
Director |
|
Address : |
2202, Kent Garden Chs Limited, |
|
Date of Birth/Age : |
07.06.1988 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
04.05.2006 |
|
DIN No.: |
01539755 |
|
|
|
|
Name : |
Mr. L K Goti |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Labhubhai J Goti |
|
15000 |
|
Harshaben L Goti |
|
15000 |
|
Komal L Goti |
|
100 |
|
Rajesh M Patel |
|
1850 |
|
Haresh V Patel |
|
500 |
|
Paresh G Goti |
|
100 |
|
Dhananjay T Singh |
|
3300 |
|
Hindustan Agro Food Limited |
|
13000 |
|
Sunil L Goti |
|
45000 |
|
|
|
|
|
Total |
|
93850 |
(As on 30.09.2010)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
13.85 |
|
Directors
or relatives of directors |
|
86.15 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of healthcare and medical Products. |
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Exports : |
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Products : |
Gauze Product |
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Countries : |
·
·
UAE |
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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 : |
L/C, Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
L/C, Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
45 Approximately |
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Bankers : |
·
HDFC Bank, Bhayander, Mumbai, ·
ICICI Bank Limited ·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg,
Lower Parel (W), Mumbai – 400 013, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. Inani and Company Chartered Accountants |
|
Address : |
502, Niti Apartments, Near New Era Cinema, |
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Tel. No.: |
91-22-40029853 |
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|
|
|
Associates/Subsidiaries : |
·
Silicon Exports Private Limited CIN No.:
U99999MH1998PTC115103 ·
Silicon Trade Impex Private Limited CIN No.:
U74950MH1997PTC108689 |
CAPITAL STRUCTURE
(As on 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
93850 |
Equity Shares |
Rs.10/- each |
Rs.0.938
million |
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 |
0.938 |
0.938 |
0.938 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.164 |
7.813 |
7.606 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.102 |
8.751 |
8.544 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.129 |
0.210 |
0.000 |
|
|
2] Unsecured Loans |
0.931 |
1.107 |
1.795 |
|
|
TOTAL BORROWING |
1.060 |
1.317 |
1.795 |
|
|
DEFERRED TAX LIABILITIES |
0.016 |
0.025 |
0.025 |
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|
|
|
|
|
|
|
TOTAL |
10.178 |
10.093 |
10.364 |
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APPLICATION OF FUNDS |
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|
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|
|
|
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FIXED ASSETS [Net Block] |
1.678 |
1.867 |
1.487 |
|
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Capital work-in-progress |
0.024 |
0.024 |
0.000 |
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.240
|
3.987 |
4.840 |
|
|
Sundry Debtors |
6.340
|
6.372 |
4.180 |
|
|
Cash & Bank Balances |
0.418
|
0.587 |
0.710 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.688
|
1.053 |
0.855 |
|
Total
Current Assets |
15.686
|
11.999 |
10.585 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.868
|
3.507 |
1.649 |
|
|
Other Current Liabilities |
0.137
|
0.153 |
0.026 |
|
|
Provisions |
0.205
|
0.137 |
0.040 |
|
Total
Current Liabilities |
7.210
|
3.797 |
1.715 |
|
|
Net Current Assets |
8.476
|
8.202 |
8.870 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
10.178 |
10.093 |
10.364 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
31.199 |
21.835 |
19.391 |
|
|
|
Interest and Other Income |
0.040 |
0.052 |
|
|
|
|
TOTAL (A) |
31.239 |
21.887 |
19.391 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods Sold |
24.632 |
17.899 |
15.377 |
|
|
|
Administrative Expenses |
5.567 |
3.197 |
3.458 |
|
|
|
Preliminary Expenses |
0.000 |
0.007 |
0.007 |
|
|
|
TOTAL (B) |
30.199 |
21.103 |
18.842 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.039 |
0.784 |
0.549 |
|
|
|
|
|
|
|
|
|
Less |
Finance Charges |
0.120 |
0.140 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.919 |
0.644 |
0.549 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.376 |
0.300 |
0.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.543 |
0.344 |
0.261 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
0.192 |
0.138 |
0.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.351 |
0.206 |
0.209 |
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
0.708 |
0.303 |
0.441 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.73 |
2.21 |
2.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.12
|
0.94 |
1.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.74
|
1.58 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.13
|
2.48 |
2.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
0.58 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18
|
3.16 |
6.17 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24230MH2003PTC141314 |
|
Name of the
company |
KOMAL HEALTHCARES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
F 118, Gaurav Garden, Opp. Bharat Petrol Pump, Mira Road
(E), Mumbai – 401 107, Maharashtra, India |
|
Type of charge |
·
Book
Debts ·
Movable
Property ·
Floating
Charge |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (W), Mumbai – 400
013, |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation. |
|
Date of
instrument Creating the charge |
26.06.2010 |
|
Amount secured by
the charge |
Rs.7.500 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment
Working Capital
facility shall payable on demand Term Loan shall
be repayable in suitable instalments. Margin Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's Stocks, Book Debts etc., to secure as a
continuing security for the repayment of Rs.7.500 millions, together with
interest, costs, charges, expenses and other moneys due and payable by the
Company to the Bank. |
|
Short particulars
of the property charged |
·
All
the stock in trade both present and future consisting of raw materials,
finished goods, goods in process of manufacturing and ·
All
the book-debts, outstandings monies receivables, claims and bills which are
now due and owing or which may at any time hereafter during the continuance |
Fixed Assets:-
·
Plant and Machinery
·
Furniture and Fixture
·
Laboratory Equipment
·
Delivery Van
·
Air Condition
·
Telephone System
·
Computer System
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.44.77 |
|
|
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.