MIRA INFORM REPORT
|
Report Date : |
07.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
INVENT BIO-MED PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
517, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
03.05.2005 |
|
|
|
|
Com. Reg. No.: |
152988 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.3.285
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33110MH2005PTC152988 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI06970F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI3632E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of medical devices and plastic disposable, vascular
intervention device. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 165076 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company
had recorded some accumulated losses in the previous year. However with some
improvement in the financial position. It has been successful in wipping off its
losses. Trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for small 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.
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/ Sales Office : |
517, |
|
Tel. No.: |
91-22-26324234/ 32446459 |
|
Fax No.: |
91-22-26324250 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 sq. ft. (owned) |
|
|
|
|
Factory : |
109, |
|
Tel. No.: |
91-261-3230180 |
|
Fax No.: |
91-261-2397157 |
|
|
|
|
Factory Office: |
Plot No. H/1, Shop No.5, Laxmi Villa Township Housing Zone, GIDC
SAchin, Surat-394230, |
|
Tel. No.: |
91-261-3116161 |
|
E-Mail : |
|
|
|
|
|
|
17, Spectrum Point # 508, |
|
Tel. No.: |
949-588-7568 |
|
Fax No.: |
949-588-7703 |
|
E-Mail : |
|
|
|
|
|
|
|
|
Tel. No.: |
03-5783-6778 |
|
Fax No.: |
03-5783-6779 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Ravishankar Srivastava |
|
Designation : |
Director |
|
Address : |
T-37, 405/406, Royal Empire, Shastri Nagar, |
|
Date of Appointment : |
03.05.2005 |
|
|
|
|
Name : |
Mrs. Nivedita Ravishankar Srivastava |
|
Designation : |
Director |
|
Address : |
T-37, 405/406, Royal Empire, Shastri Nagar, |
|
Date of Appointment : |
03.05.2005 |
|
|
|
|
Name : |
Mr. Shardul Srivastava |
|
Designation : |
Director |
|
Address : |
T-37, 405/406, Royal Empire, Shastri Nagar, |
|
Date of Appointment : |
03.05.2005 |
|
|
|
|
Name : |
Mr. Ashok R. Thakrar |
|
Designation : |
Director |
|
Address : |
Flat No. 601, Meera Apartment, Off |
|
Date of Appointment : |
15.06.2006 |
|
|
|
|
Name : |
Mr. Sunil Goyal |
|
Designation : |
Director |
|
Address : |
731/A, 7th Floor, Akshay Girikunj-Iii, |
|
Date of Appointment : |
23.11.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ravishankar Srivastava |
|
106400 |
|
Nivedita Ravishankar Srivastava |
|
84475 |
|
Shardul Srivastava |
|
20000 |
|
Ashok R. Thakrar |
|
50000 |
|
Jayshree Ashok Thakrar |
|
47875 |
|
Dwarkesh Parikh |
|
11850 |
|
Dilip Parikh |
|
10485 |
|
Gajanan P. Ratnaparkhi |
|
5000 |
|
Smita Prikh |
|
18364 |
|
Rajkumar Gupta |
|
1000 |
|
Ladderup Finance Limited, |
|
40000 |
|
Praful C. Shah |
|
1065 |
|
Ashok Sharma |
|
1000 |
|
Jay Acharya |
|
1000 |
|
Murugesan Madurai Veeram |
|
21667 |
|
Zang Qui, Honkong |
|
13334 |
|
Total |
|
433515 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
12.34 |
|
Bodies
corporate |
|
9.22 |
|
Directors
or relatives of directors |
|
48.66 |
|
Other
top fifty shareholders |
|
29.66 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of medical devices and plastic disposable, vascular
intervention device. |
GENERAL INFORMATION
|
Bankers : |
.Punjab National Bank Mid Corporate Branch, Brady
House, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gulab and Company Chartered Accountant |
|
Address : |
110/111, Sagar Shipping Centre, Near Ram Mandir, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital : Rs. 5.000 Millions
Paid up Capital: Rs. 4.402 Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
328514 |
Equity Shares |
Rs.10/- each |
Rs.3.285
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 |
3.285 |
3.248 |
3.248 |
|
|
2] Share Application Money |
11.187 |
0.339 |
0.330 |
|
|
3] Reserves & Surplus |
26.797 |
18.970 |
18.970 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.470) |
(1.074) |
|
|
NETWORTH |
41.269 |
22.087 |
21.474 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
46.585 |
36.388 |
10.675 |
|
|
2] Unsecured Loans |
0.166 |
0.782 |
2.156 |
|
|
TOTAL BORROWING |
46.751 |
37.170 |
12.831 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
88.020 |
59.257 |
34.305 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
44.140 |
42.988 |
31.299 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.012 |
0.012 |
0.012 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.291
|
17.728
|
6.999 |
|
|
Sundry Debtors |
29.330
|
11.103
|
2.670 |
|
|
Cash & Bank Balances |
1.101
|
0.245
|
0.324 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
4.278
|
1.730
|
1.008 |
|
Total
Current Assets |
61.000
|
30.806
|
11.001 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.200
|
14.781
|
6.542 |
|
|
Other Current Liabilities |
3.192
|
1.033
|
1.829 |
|
|
Provisions |
0.164
|
0.212
|
0.142 |
|
Total
Current Liabilities |
17.556
|
16.026
|
8.513 |
|
|
Net Current Assets |
43.444
|
14.780
|
2.488 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.424 |
1.477 |
0.506 |
|
|
|
|
|
|
|
|
TOTAL |
88.020 |
59.257 |
34.305 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
95.300 |
52.000 |
10.727 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
95.300 |
52.000 |
10.727 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material consumed |
|
|
7.861 |
|
|
|
Personnel expenses |
|
|
1.889 |
|
|
|
Manufacturing and other expenses |
|
|
4.242 |
|
|
|
Increase or decreases in stock |
|
|
(4.147) |
|
|
|
TOTAL (B) |
NA |
NA |
9.845 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.000 |
0.000 |
0.882 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.000 |
0.000 |
0.105 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.983 |
0.604 |
(0.495) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
7.983 |
0.604 |
(0.606) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
(0.604) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
|
|
|
|
Dividend |
|
|
|
|
|
|
Tax on Dividend |
-- |
-- |
(1.074) |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
(2.94) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.37
|
1.16 |
(5.65) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.38
|
1.16 |
(4.61) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.59
|
0.82 |
(1.17) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.03 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.56
|
2.41 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.47
|
1.92 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
Note: The Registered
office of the company has been shifted from 207, Jagruti Industrial Premises
Co-Operative Society Limited,
Form 8
|
Corporate
identity number of the company |
U33110MH2005PTC152988 |
|
Name of the
company |
INVENT BIO-MED
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
207 jagruti
industrial premises co-operative society limited, mogal lane, mahim,
Mumbai-400016, maharashtra, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Midcorporate
Branch, brady house, v .n. Road, fort, mumbai-400023, maharashtra, |
|
Nature of instrument
creating charge |
hypothecation of
goods and book debts to secure cash credit facility for Rs 0.360 millions
(enhanced from Rs 0.200millions cash credit facility) packing credit
agreement (hypothecation) for Rs 0.100millions (within cc of Rs.0.360
millions) letter of
continuity for Rs.0.410 millions deed of
hypothecation to secure lc on da basis for Rs 0.500 millions existing term
loan of Rs 0.220 millions [all the above
agreements constitute single charge of Rs 0.630 millions] |
|
Date of instrument
Creating the charge |
14.10.2009 |
|
Amount secured by
the charge |
63.000millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash credit facility
- rate of interst BPLR + 2% (over prevailing BPLR rate plus applicable
interest tax per annum with monthly rests) with minimum of 13% p.a. Terms of repayment Cash credit
facility is subject to renewal at every year . Repayable on demand. Margin STOCKS- 25% BOOK DEBTS-30% Extent and operation of the charge Rs.63.000
millions and operation of charge on entire current assets(all present and
future) including book debts and stocks , goods in transit and plot no.109,
in surat special economic zone(sursez) surat
to secure bank for the credit
facilities of Rs 63.000 millions
(enhanced). Other |
|
Short particulars
of the property charged (Including location of the property) |
Entire current
assets(all present and future) including book debts and stocks , goods in
transit belonging to the company bank to secure the bank for credit
facilities of Rs 0.630 millions
(enhanced). Plot no.109, in |
|
Whether any of the
property or interest therein under reference is not registered in the name of
the company. If yes, in whose
name it is registers |
NO |
|
Particulars of
the present modification |
By this
modification, the company has created charge on entire current assets
including book debts and stocks, goods in transit and on plot no.109, in [Last Charge Was
Registered For Rs 0.475 Millions Under Charge Id10110653 By SRN A60751831.] |
Fixed Assets:
·
Land
·
·
Furniture and Fixtures
·
Machinery
·
Vehicles
·
Computer
·
Office Equipments
·
Intangible Assets
AS PER WEBSITE
Profile:
Subject has received the reputation of supplying reliable and high
quality Vascular Interventional Devices and created distinct identity in a
short tenure. They cater the needs of domestic and overseas clients and
customers more effectively with the products of international and European
quality and Standards at competitive prices. The reason behind the company’s
successful reputation and reliable products is its alliance with the reputed
manufacturers and distributors in
They are manufacturing wide range of quality products as per customer’s
specification and requirements by fulfilling the exercises of complete quality
control at all levels of production to ensure higher quality standards.
It is an organization reflecting well experienced and well trained employee
managing various departments. They uphold the views of the employee who are the
company’s real asset and they ensure that the employees grow and develop with
the company.
This organization always encourage, nurture and reward talent within the
organization.
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.46.13 |
|
|
1 |
Rs.74.18 |
|
Euro |
1 |
Rs.64.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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.