1. Summary Information
|
|
|
Country |
|
|
Company Name |
ALERE MEDICAL
PRIVATE LIMITED |
Principal Name 1 |
Dr. Surendra Kumar Gupta |
|
Status |
Moderate |
Principal Name 2 |
Mr. David Walton |
|
|
|
Registration # |
55-069456 |
|
Street Address |
B-100, First Floor, Naraina Industrial Area, Phase-I, New Delhi-110028 |
||
|
Established Date |
06.06.1995 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Importing |
|
Fax # |
Not Available |
Business Style 2 |
Trading |
|
Homepage |
-- |
Product Name 1 |
Medical Diagnostics |
|
# of employees |
Not Available |
Product Name 2 |
Diagnostics Equipments |
|
Paid up capital |
Rs.1,945,000/- |
Product Name 3 |
Diagnostics Kits |
|
Shareholders |
Foreign holdings
100.00% |
Banking |
No Available |
|
Public Limited Corp. |
No |
Business Period |
16 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiary |
Japan
|
Alere Medical Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
108,041,000 |
Current Liabilities |
114,752,000 |
|
Inventories |
87,715,000 |
Long-term Liabilities |
212,000 |
|
Fixed Assets |
15,264,000 |
Other Liabilities |
2,957,000 |
|
Deferred Assets |
000 |
Total Liabilities |
117,921,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
255,380,000 |
|
|
|
Net Worth |
93,099,000 |
|
Total Assets |
211,020,000 |
Total Liab. & Equity |
211,020,000 |
|
Total Assets (Previous Year) |
261,479,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
322,372,000 |
Net Profit |
(148,702,000) |
|
Sales(Previous yr) |
323,022,000 |
Net Profit(Prev.yr) |
(43,891,000) |
MIRA
INFORM REPORT
|
Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALERE MEDICAL PRIVATE LIMITED [w.e.f. 25.03.2010] |
|
|
|
|
Formerly Known
As : |
INVERNESS MEDICAL INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
B-100, First Floor, Naraina Industrial Area, Phase-I, New Delhi-110028 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
06.06.1995 |
|
|
|
|
Com. Reg. No.: |
55-069456 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.945
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC069456 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS10510D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS2425B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importing, Trading and Dealing in Medical Diagnostics, Diagnostics
Equipments and Diagnostics Kits, Reagents etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. There appears huge accumulated losses
recorded by the company. 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.
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
B-100, First Floor, Naraina Industrial Area, Phase-I, New
Delhi-110028, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Dr. Surendra Kumar Gupta |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
Marriott Courtyard, Plot # V27B, Sector Road, B Block, Sushant Lok,
Sector 27, Gurgaon-122002, Haryana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
20.09.1945 |
||||||||||||||||||||||||
|
Date of Appointment : |
17.06.2010 |
||||||||||||||||||||||||
|
Din No.: |
03088719 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Venkata Narasinga Rao Hajeebu |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Plot No. 38, H. No. 10-03-54, East Maredapally, Secunderabad-500026,
Andhra Pradesh, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
15.06.1967 |
||||||||||||||||||||||||
|
Date of Appointment : |
12.05.2011 |
||||||||||||||||||||||||
|
Din No.: |
03542929 |
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|
Other Directorship:
|
|||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. David Walton |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
7, Fishers Close, Great Barford, Bedford, Bedfordshire, MK443JL,
United Kingdom |
||||||||||||||||||||||||
|
Date of Birth/Age : |
18.05.1953 |
||||||||||||||||||||||||
|
Date of Appointment : |
31.08.2007 |
||||||||||||||||||||||||
|
Din No.: |
01682593 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Veronique Yvonne Ameye |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Campden Hill Court, 66A, Campdaen Hill Road, Kensington, London-W87HL,
United Kingdom |
||||||||||||||||||||||||
|
Date of Birth/Age : |
10.07.1976 |
||||||||||||||||||||||||
|
Date of Appointment : |
12.05.2011 |
||||||||||||||||||||||||
|
Din No.: |
03549870 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Alere Switzerland GmbH, Switzerland |
|
194517 |
|
Alere Inc., USA |
|
1 |
|
|
|
|
|
Total |
|
194518 |
As on 30.09.2011
|
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] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importing, Trading and Dealing in Medical Diagnostics, Diagnostics Equipments
and Diagnostics Kits, Reagents etc. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building 10, Tower C, DLF Cyber City, Gurgaon-122002, Haryana, India |
|
Pan No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
Alere Switzerland GmbH |
|
|
|
|
Ultimate Holding Company: |
Alere Inc., US |
|
|
|
|
Fellow Subsidiaries: |
·
Alere Medical Company Limited, Japan [Formerly
Inverness Medical, Japan] ·
Alere North America Inc [Formerly Inverness
Medical, North America] ·
Inverness Medical, Hong Kong Trading Company
Limited ·
Alere GmbH, Australia [Formerly Inverness Medical
Innovation Australia Private Limited] ·
Inverness Medical Innovation Inc 15324 ·
Inverness Medical Shimla Private Limited
[Formerly Source Diagnostic (India) Private Limited] ·
Inverness Medical [Wampol] ·
Organics Limited ·
Unipath Limited ·
Vision Biotech ·
Alere Technologies GmbH, Switzerland ·
Alere San Diego Inc [Formerly Biosite
International Sarl] ·
Alere Medical, Shanghai [Formerly Inverness
Medical Shanghai Company Limited] ·
Pan Bio Private Limited ·
Binax Inc. |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
194518 |
Equity Shares |
Rs.10/- each |
Rs.1.945
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.945 |
1.690 |
1.690 |
|
|
2] Share Application Money |
0.000 |
139.518 |
40.000 |
|
|
3] Reserves & Surplus |
255.380 |
0.000 |
28.367 |
|
|
4] (Accumulated Losses) |
(164.226) |
(15.524) |
0.000 |
|
|
NETWORTH |
93.099 |
125.684 |
70.057 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.430 |
|
|
2] Unsecured Loans |
0.212 |
0.000 |
4.728 |
|
|
TOTAL BORROWING |
0.212 |
0.000 |
5.158 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
93.311 |
125.684 |
75.215 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.264 |
25.985 |
19.362 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
22.678 |
0.616 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
87.715
|
51.862 |
28.079 |
|
|
Sundry Debtors |
31.155
|
96.179 |
112.866 |
|
|
Cash & Bank Balances |
51.095
|
44.076 |
7.835 |
|
|
Other Current Assets |
2.991
|
1.490 |
0.253 |
|
|
Loans & Advances |
22.800
|
19.209 |
13.602 |
|
Total
Current Assets |
195.756
|
212.816 |
162.635 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
99.380
|
125.857 |
99.976 |
|
|
Other Current Liabilities |
15.372
|
2.834 |
1.580 |
|
|
Provisions |
2.957
|
7.104 |
5.842 |
|
Total
Current Liabilities |
117.709
|
135.795 |
107.398 |
|
|
Net Current Assets |
78.047
|
77.021 |
55.237 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
93.311 |
125.684 |
75.215 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
322.372 |
323.022 |
|
|
|
|
Other Income |
25.746 |
4.280 |
|
|
|
|
TOTAL |
348.118 |
327.302 |
223.568 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
474.142 |
393.796 |
205.321 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
474.142 |
393.796 |
205.321 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(126.024) |
(66.494) |
18.247 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.678 |
(22.603) |
7.444 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(148.702) |
(43.891) |
10.803 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.473 |
4.726 |
3.487 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Goods |
239.280 |
28.621 |
128.505 |
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(874.94) |
(259.63) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(42.72)
|
(13.41) |
4.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(39.09)
|
(20.58) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(59.72)
|
(27.84) |
10.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.35)
|
(0.53) |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.27
|
1.08 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.57 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
No |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE:
The registered office of the company has been shifted from 501 and 502, Vikas Deep, 189, Laxminagar District Centre, New Delhi-110092, India to the present address w.e.f. 17.08.2010.
FIXED ASSETS:
· Office Premises
· Temporary Partition
· AC and Refrigerator
· Cold Room
· Computer Instruments
· Office Equipments
· Power Equipments
· Furniture and Fittings
· Vehicles
· Software
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.51.65 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.67.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
TOTAL |
|
26 |
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.