MIRA
INFORM REPORT
|
Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BEIERSDORF ( |
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Formerly Known
As : |
BEIERSDORF (INDIA) LIMITED (w.e.f. 01.02.1990) LEUKOPLAST ( LEUKOPLAST ( |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01.12.1965 |
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Com. Reg. No.: |
24-000055 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U24236GA1965PTC000055 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB02799G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is
engaged in the business of manufacturing and marketing of first aid dressing
and surgical dressings. |
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No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 670000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. General financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Rajesh |
|
Designation : |
Finance Executive |
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Contact No.: |
91-22-40476900 |
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Date : |
23.04.2012 |
LOCATIONS
|
Registered Office : |
CMM Building, Rua De Ourem Panjim-403001, Goa, India |
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Tel. No.: |
91-832-2330688 |
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Fax No.: |
91-832-2330651 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Dean Wilfred Menezes |
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Designation : |
Director |
|
Address : |
House No.553/13, Plot No.25-26, Palmar Colony, alto-Santacruza,
Panji-403202, Goa, India |
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Date of Birth/Age : |
07.06.1965 |
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Date of Appointment : |
11.07.1998 |
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DIN No.: |
00013634 |
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Name : |
Mr. Ramesh Sitaram Ghodge |
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Designation : |
Managing Director |
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Address : |
N Alanda Housing Complex, Aquem PO, Navelim, Margao-403707, Goa, India
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Date of Birth/Age : |
17.03.1957 |
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Date of Appointment : |
24.10.2001 |
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DIN No.: |
00134266 |
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Name : |
Mr. Minoo Hormusji Mody |
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Designation : |
Director |
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Address : |
H No.8, Icasa Grande Little Gibbs Road, Hanging Gardens,
Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
11.06.1932 |
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Date of Appointment : |
18.09.1989 |
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DIN No.: |
00332104 |
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Name : |
Mr. Wolfgang Haak |
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Designation : |
Director |
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Address : |
CMM Building, Rua De Ourem, Panji-403001, Goa, India |
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Date of Birth/Age : |
15.11.1958 |
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Date of Appointment : |
23.03.2005 |
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DIN No.: |
01039891 |
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Name : |
Mr. Melanie Schrewe |
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Designation : |
Additional Director |
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Address : |
CMM Building, Rua De Ourem, Panji-403001, Goa, India |
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Date of Birth/Age : |
11.09.1967 |
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Date of Appointment : |
30.11.2006 |
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DIN No.: |
01128592 |
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Name : |
Mr. Dale Maxie De Lopes Menezes |
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Designation : |
Director |
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Address : |
House No.46, Altinho, Panaji-403001, Goa, India |
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Date of Birth/Age : |
15.03.1972 |
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Date of Appointment : |
15.06.2005 |
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DIN No.: |
01822214 |
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Name : |
Mr. Umit Subasi |
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Designation : |
Director |
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Address : |
CMM Building, Rua De Ourem, Panji-403001, Goa, India |
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Date of Birth/Age : |
19.08.1967 |
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Date of Appointment : |
13.04.2011 |
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DIN No.: |
03522770 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Sitaram Ghodge |
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Designation : |
Company Secretary |
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Address : |
N Alanda Housing Complex, Aquem PO, Navelim, Margao-403707, Goa, India
|
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Date of Birth/Age : |
17.03.1957 |
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Date of Appointment : |
28.05.1993 |
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Pan No.: |
ACKPG0030E |
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Name : |
Mr. Rajesh |
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Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Menezes David Celilia |
250 |
|
Menezes Wilfred Deana |
6025 |
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Menezes Dean Supriyaa |
50 |
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Menezes Leo David |
6075 |
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Menezes E Daniel |
6075 |
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Nenezes Dale |
6025 |
|
Beiersdorf – AG, Germany |
25500 |
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Total |
50000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
|
Directors or relatives of Directors |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
engaged in the business of manufacturing and marketing of first aid dressing
and surgical dressings. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Surgical Adhesive Plaster |
SQ. Mtrs. |
|
1628816 |
|
Medicated Dressings |
SQ. Mtrs. /
Strips |
|
306673420 |
|
Plaster of Paris Bandage |
SQ. Mtrs. |
1578000 |
3236887 |
%20PRIVATE%20LIMITED%20-%20177660%2024-Apr-2012_files/image001.gif){kind=small}
GENERAL INFORMATION
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No. of Employees : |
Information not given by the management |
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Bankers : |
Canara Bank, Mittal Tower, C Wing, Nariman Point, Mumbai-400021,
Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. V. Ghatalia and Associates Chartered Accountant |
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Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai-400028, Maharashtra, India |
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Tel. No.: |
91-22-61970000 |
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Fax No.: |
91-22-61971000 |
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Pan No.: |
AACFS6921Q |
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Holding Company : |
Beiersdorf AG |
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Enterprises with same managing director: |
BSN Medical Private Limited |
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Enterprises owned or significantly influenced by
group of individuals or their relatives who have control or significant
influence over the Company : |
Cosmo Matias
Menezes Private Limited (CMM) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
50000 |
Equity Shares |
Rs.100/-
each |
Rs. 5.000
Millions |
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NOTES:
Of the above :
a)
1,839 (1,839) shares of Rs. 100 each have been
allotted as fully paid-up pursuant to contracts for consideration other than
cash.
b)
33,000 (33,000) shares of Rs. 100 each were
allotted as fully paid bonus shares by capitalisation of General Reserve Rs.
3.300 Millions (Rs. 3.300 Millions)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
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|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
164.560 |
136.873 |
121.202 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
169.560 |
141.873 |
126.202 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
1.371 |
4.374 |
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|
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TOTAL |
169.560 |
143.244 |
130.576 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
64.393 |
64.831 |
67.033 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
83.918 |
0.010 |
0.010 |
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DEFERREX TAX ASSETS |
0.737 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
75.893
|
58.228 |
57.837 |
|
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Sundry Debtors |
56.385
|
34.992 |
34.477 |
|
|
Cash & Bank Balances |
50.535
|
129.639 |
89.019 |
|
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Other Current Assets |
1.488
|
3.105 |
0.000 |
|
|
Loans & Advances |
12.205
|
12.117 |
12.137 |
|
Total
Current Assets |
196.506
|
238.081 |
193.470 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
57.934 |
45.231 |
51.158 |
|
|
Other Current Liabilities |
38.607
|
40.327 |
28.941 |
|
|
Provisions |
79.453
|
74.120 |
49.838 |
|
Total
Current Liabilities |
175.994
|
159.678 |
129.937 |
|
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Net Current Assets |
20.512
|
78.403 |
63.533 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
169.560 |
143.244 |
130.576 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
616.763 |
486.479 |
425.591 |
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PROFIT BEFORE
TAX |
125.562 |
109.694 |
72.059 |
|
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|
|
|
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Less |
TAX |
40.190 |
35.661 |
26.213 |
|
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PROFIT AFTER TAX
|
85.372 |
74.033 |
45.846 |
|
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Excess (Short)
Provision for Prior Years |
0.426 |
(0.057) |
0.459 |
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
50.740 |
42.468 |
35.897 |
|
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|
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|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.600 |
7.400 |
4.635 |
|
|
|
Proposed Dividend |
50.000 |
50.000 |
30.000 |
|
|
|
Tax on Dividend |
8.111 |
8.304 |
5.099 |
|
|
BALANCE CARRIED
TO THE B/S |
69.827 |
50.740 |
42.468 |
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2.059 |
2.677 |
NA |
|
|
TOTAL EARNINGS |
2.059 |
2.677 |
NA |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
39.149 |
37.818 |
NA |
|
|
|
Stores & Spares |
1.540 |
2.529 |
NA |
|
|
TOTAL IMPORTS |
40.689 |
40.347 |
NA |
|
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|
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|
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|
|
|
Earnings Per
Share (Rs.) |
1716 |
1480 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
20.36
|
22.55 |
16.93 |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
47.99
|
36.21 |
27.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.74
|
0.77 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.04
|
1.14 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.49 |
1.49 |
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. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
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8. No. of Employees |
No |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
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 |
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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 |
No |
|
21. Market information |
------- |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Micro, Small and Medium Enterprises |
0.000 |
0.000 |
0.000 |
|
Others |
57.934 |
45.231 |
51.158 |
|
Total |
57.934 |
45.231 |
51.158 |
NATURE OF OPERATIONS
The Company was
incorporated in 1965 as “Leukoplast India Private Limited”. The Company is
engaged in the business of manufacturing and marketing of first aid dressing
and surgical dressings.
OUTLOOK
The business still
faces stiff competition on price front from small manufacturers. The price and
not quality seems to be on the mind of consumers for our category of products.
The Company has taken various steps to promote the products.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Air Conditioner
·
Diesel Generating Set
·
R and D Equipment
·
Furniture and Fixtures
and Equipment
·
Data Processing Machines
·
Vehicles
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. 52.22 |
|
|
1 |
Rs. 84.16 |
|
Euro |
1 |
Rs. 68.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.