MIRA
INFORM REPORT
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Report Date : |
08.10.2011 |
IDENTIFICATION DETAILS
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Name : |
DR BATRAS’ POSITIVE HEALTH CLINIC PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, H Kantilal Compound, Andheri Kurla Road, Saki Naka3,
Andheri (East), Mumbai – 400072, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.01.1999 |
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Com. Reg. No.: |
11-118005 |
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Capital Investment
/ Paid-up Capital : |
Rs. 87.500 Millions |
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CIN No.: [Company Identification
No.] |
U85110MH1999PTC118005 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB13223A |
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PAN No.: [Permanent Account No.] |
AABCD3857G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manage and operate a chain of multi specialty homeopathic clinics. |
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No. of Employees
: |
Information Declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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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 470000 |
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Status : |
Moderate |
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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 dealings
with slight caution. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
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Name : |
Mr. Ronnie Matthew |
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Designation : |
Accounts department |
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Date : |
07.10.2011 |
LOCATIONS
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Registered Office : |
2nd Floor, H Kantilal Compound, Andheri Kurla Road, Saki
Naka3, Andheri (East), Mumbai – 400072, Maharashtra, India |
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Tel. No.: |
91-22-39554800 |
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Fax No.: |
91-22-66764159 |
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E-Mail : |
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Website : |
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Branches : |
Located At : ·
Ahmadabad ·
Bangalore ·
Gansigarh ·
Chennai ·
Gurgaon ·
Hyderabad ·
Jaipur ·
Kolkata ·
Lucknow ·
Ludhiana ·
Mumbai ·
New Delhi ·
Pune ·
Vadodara ·
Vishakhapatnam ·
London |
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DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Mukesh Munish Batra |
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Designation : |
Director |
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Address : |
33, Maker Towers ‘H’, Cuffe Parade, Mumbai, 400005, Maharashtra, India
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Date of Appointment : |
25.01.1999 |
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Din No.: |
00302739 |
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Name : |
Mr. Akshay Mukesh Batra |
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Designation : |
Director |
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Address : |
5th Floor, R – 1, Atur Terraces,, 8 and 9, Cuffe, Parade,
Colaba,, Mumbai, 400005, |
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Date of Appointment : |
25.01.1999 |
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Din No.: |
00302825 |
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Name : |
Mrs. Bindu Manoj Sharma |
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Designation : |
Director |
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Address : |
A-302, Royal Classic, Next to City Mall, New Link Road, Andheri East,
Mumbai, 400058, Maharashtra, India |
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Date of Appointment : |
31.01.2009 |
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Din No.: |
00334750 |
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KEY EXECUTIVES
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Name : |
Mr. Shirish Sule |
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Designation : |
Secretary |
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Address : |
1/B, Eknath Darshan, Eknath Mhatre Nagar, |
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Date of Appointment : |
21.02.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Mukesh Munish Batra |
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8674750 |
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Akshay Mukesh Batra |
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50000 |
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Pranav Mukesh Batra |
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25000 |
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Mukesh Munish Batra (HUF) |
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250 |
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Total |
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8750000 |
AS ON 30.09.2011
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manage and operate a chain of multi specialty homeopathic clinics. |
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GENERAL INFORMATION
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No. of Employees : |
Information Declined by the management. |
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Bankers : |
Axis Bank
Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri
(West), Mumbai – 400053, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
A.Bafna and Company Chartered Accountants |
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Address : |
209, Standard House, 83, |
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Tel. No.: |
91-22-25631390 |
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Fax No.: |
91-22-25631390 |
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Subsidiaries : |
v
Dr. Batras’ Nu/Hart Hair Transpaint Private
Limited U85110MH2008PTC184008 v
Dr. Batras’ Homeopathic Clinic FZ-LLC |
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Related Parties |
v
Dr. Batras Health Product Limited v
Praman Trading Private Limited |
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Group of Companies : |
v
Dr. Batras’ Positive Health Clinic Private
Limited v
Dr. Batras’ Positive Health Foundation v
Dr. Batras’ B Perfect Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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12495000 |
Equity Shares |
Rs.10/- each |
Rs. 124.950 Millions |
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5000 |
Preference Shares |
Rs.10/- each |
Rs. 0.050 Million |
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Total |
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Rs. 125.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8750000 |
Equity Shares |
Rs.10/- each |
Rs.
87.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
87.500 |
60.000 |
48.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
31.185 |
15.162 |
15.929 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
118.685 |
75.162 |
63.929 |
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LOAN FUNDS |
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1] Secured Loans |
127.743 |
161.557 |
124.693 |
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2] Unsecured Loans |
18.260 |
17.962 |
3.473 |
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TOTAL BORROWING |
146.003 |
179.519 |
128.166 |
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DEFERRED TAX LIABILITIES |
35.675 |
31.688 |
15.181 |
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DEFERRED INCOME |
113.502 |
86.551 |
143.333 |
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TOTAL |
413.865 |
372.920 |
350.609 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
383.997 |
399.728 |
295.416 |
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Capital work-in-progress |
0.000 |
0.000 |
90.580 |
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INVESTMENT |
10.915 |
10.117 |
9.578 |
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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 |
0.000
|
1.518 |
0.311 |
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Sundry Debtors |
17.030
|
12.413 |
3.940 |
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Cash & Bank Balances |
1.496
|
6.130 |
28.869 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
85.781
|
54.362 |
53.160 |
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Total
Current Assets |
104.307
|
74.423 |
86.280 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
46.649
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34.740 |
90.239 |
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Other Current Liabilities |
20.752
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49.787 |
13.584 |
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Provisions |
17.953
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26.821 |
27.422 |
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Total
Current Liabilities |
85.354
|
111.348 |
131.245 |
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Net Current Assets |
18.953
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(36.925) |
(44.965) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
413.865 |
372.920 |
350.609 |
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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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INCOME |
652.709 |
807.875 |
731.821 |
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PROFIT BEFORE
TAX |
50.638 |
60.989 |
53.349 |
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Less |
TAX |
21.677 |
29.900 |
35.454 |
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PROFIT AFTER TAX
|
28.961 |
31.089 |
17.895 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.841 |
0.718 |
2.430 |
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DISPOSABLE
PROFIT |
0.000 |
31.808 |
20.325 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
2.172 |
3.110 |
1.790 |
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Dividend |
11.058 |
16.9736 |
14.028 |
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Tax on Dividend |
1.879 |
2.884 |
2.384 |
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BALANCE CARRIED
TO THE B/S |
22.691 |
8.841 |
0.718 |
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EARNINGS IN
FOREIGN CURRENCY |
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Medical Consultancy |
1.248 |
0.854 |
0.592 |
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Royalty Income |
2.031 |
0.880 |
0.000 |
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TOTAL EARNINGS |
3.279 |
1.734 |
0.592 |
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Earnings Per
Share (Rs.) |
3.30 |
5.18 |
2.04 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.43
|
3.84 |
2.44 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.37
|
12.86 |
13.97 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.81 |
0.83 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.94
|
3.86 |
4.05 |
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Current Ratio (Current Asset/Current Liability) |
|
1.22
|
0.66 |
0.65 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sundry Creditors |
46.649
|
34.740 |
90.239 |
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BUSINESS OVERVIEW
:
The downturn in the
economy all over the globe that lasted till the 4th quarter of the year,
affected the performance of the company. The turnover of the company showed a
decline from Rs. 807.800 millions to Rs. 652.700 millions, a decline of 21%.
Despite the reduction of total income, the Net Profitability ratio of the
company showed a marginal growth of 0.26% from 7.53% in 2008-09 to 7.78% in
2009-10.
NATURE OF
OPERATIONS :
The company was
incorporated in the year 1999 to take over, manage and operate a chain of multi
specialty homeopathic clinics from the founder chairman Dr. Mukesh Batra.
Presently the company is operation 52 Clinics in different parts of the country
and has launched its clinics in
Form : 8
|
Corporate
identity number of the company |
U85110MH1999PTC118005 |
|
Name of the
company |
DR BATRAS'
POSITIVE HEALTH CLINIC PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2nd
Floor H Kantilal Compound Andheri-Kurla Road, Saki Naka3, Andheri (East),
Mumbai – 400072, Maharashtra, India |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
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Particular of charge
holder |
Axis Bank
Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri
(West), Mumbai – 400053, Maharashtra, India |
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Nature of
instrument creating charge |
1) No Instrument.
Memorandum of Entry (MOE) Mortgage by Deposit of title deeds for extension of
existing mortgaged property and mortgage on additional (new) property made on
23.12.2008 2) Simple
Mortgage Deed (SMD) dated 23.12.2008 Both modifying a
single charge. |
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Date of
instrument Creating the charge |
23/12/2008 |
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Amount secured by
the charge |
Rs. 220.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest On OD, TL II and
LC @ BPLR - 2.25% p.a. Other Limits as
specified by bank from time to time. Terms of repayment OD – On Demand ,
T/L to be repaid in 48 EMI commencing from 30.04.2008, LOC- Drawing power in
the account shall be reduced by Rs.1.042 millions every month starting from April 2008 Margin As per Sanction
Letter. Extent and operation of the charge The immovable
property of Co. situated at Mumbai, Pune, Thane and Bangalore des. as
Property No. 1 to 4 in Part A of 1st Sch. to
MOE given earlier extended as security to secure enhanced credit
facilities agg. to Rs.220.000 millions granted by Bank. Co. also mortgaged immovable property
situated at Ahmadabad, Vishakhapatnam, Mangalore as security by Deposit of
Title Deeds and property at Nariman Point, Mumbai by Simple Mortgage Deed. Other Nil |
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Short particulars
of the property charged (Including location of the property) |
1) Hypothecation
of stock of RM, SFG, FG, B/Ds. Receivables, P and M., etc. 2) Equitable mortgage
by deposit of title deeds relating to immovable property situated at
Chowpatty (Mumbai), Pune, Thane, Bangalore, Ahmadabad, Vishakhapatnam and
Mangalore. 3) Simple
Mortgage whereby Co., transfers its rights, Titles and interest in Off.
No.307 and 308, 3rd Floor, in Arcadia Co. op. Hsg Soc. Limited, 195 Nariman
Point, Mumbai 21. Details of Imm.
Property in Ann.I to this Form |
|
Date of
instrument modifying the charge |
29/02/2008 |
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Particulars of
the present modification |
Now vide this
Modi., imm. property of Co. situated at Chowpatty (Mumbai), Pune, Thane and
Bangalore des. as Property No. 1 to 4 in Part A of 1st Sch. to MOE given earlier extended as security to
secure enhanced credit facilities agg. to Rs.220.000 millions granted by Bank. Company also mortgaged immovable
property situated at Ahmedabad, Vishakhapatnam, Mangalore as security by
Deposit of Title Deeds and property at Nariman Point, Mumbai by SMD. . |
FIXED ASSETS :
v Building
v Building – Leasehold
v Furniture and Fixtures
v Computer Software
v Plant and Machinery
v Vehicle
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. 49.13 |
|
|
1 |
Rs. 75.97 |
|
Euro |
1 |
Rs. 65.99 |
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 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
|
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.