MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
VARDHMAN MEDICARE PRIVATE LIMITED |
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Registered
Office : |
L-90/164, IInd Floor, Street No.7, Mahipalpur Extension, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.03.2005 |
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Com. Reg. No.: |
55-134047 |
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Capital
Investment / Paid-up Capital : |
Rs.2.975
millions |
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CIN No.: [Company Identification
No.] |
U33111DL2005PTC134047 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELV07174G |
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PAN No.: [Permanent Account No.] |
AACCV0476A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading of Medical Equipments. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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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 17000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. 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
|
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 |
LOCATIONS
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Registered Office : |
L-90/164, IInd Floor, Street No.7, Mahipalpur Extension, |
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Tel. No.: |
91-11-26786207/ 26786208 |
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Fax No.: |
91-11-26786206 |
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E-Mail : |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Umesh Bhardwaj |
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Designation : |
Director |
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Address : |
301/12, Jawahar Nagar, New |
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Date of Birth/Age : |
10.01.1967 |
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Date of Appointment : |
16.03.2005 |
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DIN No.: |
00373498 |
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Name : |
Mr. Sandeep Jain |
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Designation : |
Director |
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Address : |
99, New Colony, Gurgaon – 122 001, |
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Date of Appointment : |
16.03.2005 |
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DIN No.: |
00373472 |
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Name : |
Shashi Jain |
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Designation : |
Director |
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Address : |
99, New Colony, Gurgaon – 122 001, |
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Date of Birth/Age : |
24.09.1965 |
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Date of Appointment : |
16.03.2005 |
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DIN No.: |
00373514 |
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Name : |
Ms. Asha Bhardwaj |
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Designation : |
Director |
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Address : |
301/12, Jawahar Nagar, New |
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Date of Birth/Age : |
11.08.1970 |
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Date of Appointment : |
16.03.2005 |
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DIN No.: |
01126296 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
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No. of Shares |
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Umesh Bhardwaj |
|
87000 |
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Sandeep Jain |
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78000 |
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Shashi Jain |
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74000 |
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Asha Jain |
|
58500 |
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Total |
|
297500 |
As on 30.09.2009
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of Medical Equipments. |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v ICICI Bank v HDFC Bank v
Punjab National Bank, Bhanu Complex, Sukhrali,
Gurgaon – 122 015, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gupta Khurana and Sahewala Chartered Accountants |
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Address : |
B-4/34, Sector-07, Rohini, |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFG4905R |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
297500 |
Equity Shares |
Rs.10/- each |
Rs.2.975
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.975 |
2.975 |
0.885 |
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2] Share Application Money |
0.585 |
0.000 |
0.115 |
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3] Reserves & Surplus |
0.595 |
0.240 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.049) |
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NETWORTH |
4.155 |
3.215 |
0.951 |
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LOAN FUNDS |
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1] Secured Loans |
7.018 |
3.161 |
0.988 |
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2] Unsecured Loans |
1.225 |
1.050 |
0.997 |
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TOTAL BORROWING |
8.243 |
4.211 |
1.985 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
12.398 |
7.426 |
2.936 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.161 |
2.718 |
1.990 |
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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 |
0.083 |
0.068 |
0.056 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
14.652
|
12.272 |
4.592 |
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Sundry Debtors |
0.851
|
0.348 |
0.478 |
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Cash & Bank Balances |
0.024
|
0.005 |
0.014 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.070
|
1.337 |
0.173 |
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Total
Current Assets |
18.597
|
13.962 |
5.257 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.625
|
5.554 |
3.146 |
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Other Current Liabilities |
1.630
|
3.546 |
1.141 |
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Provisions |
0.188
|
0.222 |
0.087 |
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Total
Current Liabilities |
9.443
|
9.322 |
4.374 |
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Net Current Assets |
9.154
|
4.640 |
0.883 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
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TOTAL |
12.398 |
7.426 |
2.936 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PROFIT AFTER TAX
|
0.355 |
0.289 |
0.268 |
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Earnings Per
Share (Rs.) |
1.27 |
1.03 |
3.02 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.19
|
4.21 |
6.69 |
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Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.50 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
FINALANCIAL
RESULTS AND OPERATIONS:
The Company has
earned Net Profit after Income Tax of Rs.0.355 million (Previous year Rs.0.289
million)
FORM 8:
|
Corporate
identity number of the company |
U33111DL2005PTC134047 |
|
Name of the
company |
VARDHMAN MEDICARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
L-90/164, IInd Floor, Street No.7, Mahipalpur Extension, E-Mail: sahewala@yahoo.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10000273 |
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Type of charge |
Immovable
Property Book Debts Movable Property |
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Particular of
charge holder |
Punjab National Bank, Bhanu Complex, Sukhrali, Gurgaon – 122 015, E-Mail: bo3145@pnb.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Supplementary
Agreement and Hypothecation Agreement dated 16.11.2010 for increase in
existing limit from Rs6.000 millions to 9.000 millions. |
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Date of instrument
Creating the charge |
16.11.2010 |
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Amount secured by
the charge |
Rs.9.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Additional
interest 2% per annum Terms of Repayment: On Demand Margin: 30% on goods and
40% on book debts Extent and
Operation of the charge: In |
|
Short particulars
of the property charged |
Stocks and Book
Debts |
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Date of latest
modification prior to the present modification |
15.10.2009 |
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Particulars of
the present modification |
Increase in
existing limit from 6.000 millions to 9.000 millions. |
FIXED ASSETS:
v
Car
v
Furniture and Fixture
v
Office Equipments
v
Electrical Fitting
v
Land and Building
v Computer
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.45.10 |
|
|
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--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 |
|
27 |
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.