Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
V-CARE MEDICAL
SYSTEMS PRIVATE LIMITED |
Principal Name 1 |
Mr. P Vinsent |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Vijayakumar. D |
|
|
|
Registration # |
026916 |
|
Street Address |
#653, 1st and 2nd Floor, 4th Main Road, 2nd Cross, Kottigepalya
Srigandadakaval, Bangalore 560091, Karnataka
|
||
|
Established Date |
12.04.2000 |
SIC Code |
-- |
|
Telephone# |
91-80-23182819 / 20 |
Business Style 1 |
Manufacturer of Medical Equipments
|
|
Fax # |
91-80-23182821 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.800,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 100.00 |
Banking |
Bank of India |
|
Public Limited Corp. |
-- |
Business Period |
11 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (45) |
|
Related
Company |
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|
Relation
|
-- |
Company
Name |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
8,326,000 |
Current Liabilities |
3,991,000 |
|
Inventories |
3,356,000 |
Long-term Liabilities |
16,113,000 |
|
Fixed Assets |
15,694,000 |
Other Liabilities |
680,000 |
|
Deferred Assets |
0 |
Total Liabilities |
20,784,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
1,000,000 |
|
|
|
Net Worth |
6,592,000 |
|
Total Assets |
27,376,000 |
Total Liab. & Equity |
27,376,000 |
|
Total Assets (Previous Year) |
25,421,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
44,838,000 |
Net Profit |
2,735,000 |
|
Sales(Previous yr) |
29,372,000 |
Net Profit(Prev.yr) |
290,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
V-CARE MEDICAL SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
#653, 1st and 2nd Floor, 4th Main Road, 2nd Cross, Kottigepalya
Srigandadakaval, Bangalore 560091, Karnataka
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
12.04.2000 |
|
|
|
|
Com. Reg. No.: |
026916 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.800 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA2000PTC026916 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of Medical Equipments
|
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 26368 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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.
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 Office : |
#653, 1st and 2nd Floor, 4th Main Road, 2nd Cross, Kottigepalya
Srigandadakaval, Bangalore 560091, Karnataka, India |
|
Tel. No.: |
91-80-23182819 / 20 |
|
Fax No.: |
91-80-23182821 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. P Vinsent |
|
Designation : |
Director |
|
Date of Birth/Age : |
08.07.1972 |
|
Date of Appointment : |
12.04.2000 |
|
|
|
|
Name : |
Mr. Vijayakumar. D |
|
Designation : |
Director |
|
Date of Birth/Age : |
11.01.1970 |
|
Date of Appointment : |
12.04.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. P Vinsent |
4000 |
|
Mr. Vijayakumar. D |
4000 |
|
Total |
8000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medical Equipments
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Bank of India, Milk Colony Branch, KEC Campus, Malleswaram West
560055, Karnataka, India |
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Financial Institutes: |
Kotak Mahindra Finance Limited |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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|
|
Auditors : |
|
|
Name : |
Lingaraju and Company Chartered Accountant |
|
Address : |
#27, 2nd Floor, Dr. Rajkumar Road, 4th N Block,
Rajajinagar, Bangalore 560010, Karnataka, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs. 100 each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000 |
Equity Shares |
Rs. 100 each |
Rs.0.800 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 |
0.800 |
0.800 |
0.800 |
|
|
2] Share Application Money |
1.000 |
0.600 |
0.600 |
|
|
3] Reserves & Surplus |
4.792 |
2.057 |
1.767 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.592 |
3.457 |
3.167 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.409 |
16.331 |
8.917 |
|
|
2] Unsecured Loans |
1.704 |
1.038 |
0.353 |
|
|
TOTAL BORROWING |
16.113 |
17.369 |
9.270 |
|
|
DEFERRED TAX LIABILITIES |
0.680 |
0.232 |
0.201 |
|
|
|
|
|
|
|
|
TOTAL |
23.385 |
21.058 |
12.638 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.694 |
15.738 |
2.016 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.356
|
3.697 |
3.707 |
|
|
Sundry Debtors |
5.094
|
3.667 |
5.098 |
|
|
Cash & Bank Balances |
0.067
|
0.149 |
0.023 |
|
|
Other Current Assets |
0.042
|
0.084 |
4.617 |
|
|
Loans & Advances |
3.123
|
2.086 |
0.753 |
|
Total
Current Assets |
11.682
|
9.683 |
14.198 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.729
|
3.395 |
2.725 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
1.262
|
0.968 |
0.851 |
|
Total
Current Liabilities |
3.991
|
4.363 |
3.576 |
|
|
Net Current Assets |
7.691
|
5.320 |
10.622 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23.385 |
21.058 |
12.638 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
44.838 |
29.372 |
27.477 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
44.838 |
29.372 |
27.477 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
|
Employees Remuneration |
|
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
|
|
|
|
Selling and Distribution Expenses |
40.782 |
28.880 |
26.538 |
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
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|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
40.782 |
28.880 |
26.538 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.056 |
0.492 |
0.939 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
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|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.056 |
0.492 |
0.939 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.056 |
0.492 |
0.939 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.321 |
0.202 |
0.376 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
2.735 |
0.290 |
0.563 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
342.00 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.09
|
0.98 |
2.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.04
|
1.67 |
3.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.81
|
1.93 |
5.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.14 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.15
|
6.35 |
4.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.92
|
2.21 |
3.97 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE PROSPECT:
As the market for medical equipment is increasing they are hopeful of
achieving substantial commercial progress in the coming year, further the company
is receiving inquires from various countries, which will in turn may result in
the raise in export sales for the coming years.
NOTE:
Registered office of the company has been shifted from No. 30/2, S V Complex, Magadi Main Road, Vijayanagar, Bangalore 560040, Karnataka, India to the present address w.e.f. 06.07.2010
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Fax Machine
·
Furniture and Fittings
·
Tools and Equipments
·
Projector
·
Laptop
·
Car
·
Printer
·
Software
·
Mobile
·
Battery
FORM 8
|
Corporate identity
number of the company |
U85110KA2000PTC026916 |
|
Name of the
company |
V-CARE MEDICAL SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
#653, 1st and 2nd Floor, 4th Main Road, 2nd Cross, Kottigepalya
Srigandadakaval, Bangalore 560091, Karnataka , India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Bank of India, Milk Colony Branch, KEC Campus, Malleswaram West
560055, Karnataka, India Email: vcare@satyam.net.in |
|
Nature of
instrument creating charge |
Hypothecation Cum
Loan Agreement |
|
Date of
instrument Creating the charge |
20.12.2007 |
|
Amount secured by
the charge |
Rs. 5.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 0.5% over BOIBPLR
with a minimum of 13.75% p.a. Terms of repayment By 84 EMI of
Rs.0.093 million commencing from January 2008 Margin As per bank norms Extent and operation of the charge The charge shall operate
to the extent of Rs.5.000 millions plus interest, commission, costs, expenses
and other charges thereon |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way of first charge on all tangible movable property including in particular
stock of goods, plant and machinery, testing equipments, semi finished and
finished products situate at the factory or in transit wherever situate
existing as well as in future |
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.46.12 |
|
|
1 |
Rs.74.18 |
|
Euro |
1 |
Rs.64.87 |
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.