1. Summary Information
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|
Country |
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Company Name |
PS MEDICAL SYSTEMS PRIVATE LIMITED |
Principal Name 1 |
MR. PUSPALAM SUDARSANAM PRATHAP KUMAR |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. PUSHPALA SUDARSANAM |
|
|
|
Registration # |
18-67294 |
|
Street Address |
FLAT NO. G1, “ROYAL PRINCESS”, NO. 8A, 1ST |
||
|
Established Date |
09.04.2008 |
SIC Code |
- |
|
Telephone# |
91-44-42033143 |
Business Style 1 |
TRADER |
|
Fax # |
91-44-24852407 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
MEDICAL EQUIPMENTS |
|
|
# of employees |
Not Available |
Product Name 2 |
- |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
ANDHRA BANK |
|
Public Limited Corp. |
NO |
Business Period |
3 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
21,322,000 |
Current Liabilities |
9,191,000 |
|
Inventories |
4,998,000 |
Long-term Liabilities |
12,913,000 |
|
Fixed Assets |
3,905,000 |
Other Liabilities |
536,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
22,640,000 |
|
Invest& other Assets |
8,000 |
Retained Earnings |
7,493,000 |
|
|
|
Net Worth |
7,593,000 |
|
Total Assets |
30,233,000 |
Total Liab. & Equity |
30,223,000 |
|
Total Assets (Previous Year) |
33,841,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
58,984,000 |
Net Profit |
3,210,000 |
|
Sales(Previous yr) |
69,301,000 |
Net Profit(Prev.yr) |
2,718,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
PS MEDICAL SYSTEMS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Flat No. G1, “Royal Princess”, No. 8A, 1st Cross Street, 2nd
Avenue, Ashok Nagar, Chennai – 600 083, TamilNadu |
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Country : |
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|
Financials (as
on) : |
31.03.2011 |
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|
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Date of
Incorporation : |
09.04.2008 |
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|
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Com. Reg. No.: |
18-067294 |
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|
Capital
Investment/ Paid-up Capital: |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52311TN2008PTC067294 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP10172B |
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PAN No.: [Permanent Account No.] |
AAECP6160D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading Or Medical Equipments And Spares And Servicing Of Such
Equipments. |
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|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30000 |
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|
|
Status : |
Satisfactory |
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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 – 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 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered/ Corporate Office : |
Flat No. G1, “Royal Princess”, No. 8A, 1st Cross Street, 2nd
Avenue, Ashok Nagar, Chennai – 600 083, TamilNadu, India |
|
Tel. No.: |
91-44-42033143 |
|
Mobile No.: |
91-9840070914 (Mr. P.S.Prathap Kumar) |
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Fax No.: |
91-44-24852407 |
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E-Mail : |
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Website : |
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Branch Office : |
Flat A, Vimal
Apartments, New MLA Quarters Lane, Basheerbagh, |
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Tel. No.: |
91-40-23230130 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Puspalam Sudarsanam Prathap Kumar |
|
Designation : |
Managing Director |
|
Address : |
Block II, Flat No.F1, |
|
Date of Birth/Age : |
21.02.1966 |
|
Date of Appointment : |
09.04.2008 |
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Din No.: |
02069070 |
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|
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Name : |
Mr. Pushpala Sudarsanam |
|
Designation : |
Director |
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Address : |
AP 1082, |
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Date of Birth/Age : |
30.04.1932 |
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Date of Appointment : |
09.04.2008 |
|
Din No.: |
02071256 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Puspalam Sudarsanam Prathap Kumar |
|
750 |
|
Pushpala Sudarsanam |
|
250 |
|
Total |
|
1000 |
As on 30.09.2011
Equity Shares Break up
|
Category |
|
Percentage |
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|
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|
Directors or relatives of directors |
|
100.00 |
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BUSINESS DETAILS
|
Line of Business : |
Trading Or Medical Equipments And Spares And Servicing Of
Such Equipments. |
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GENERAL INFORMATION
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No. of Employees: |
Not Available |
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Bankers : |
Andhra Bank,
No.265, T.T.K. Salai, Alwarpet, Chennai – 600 018, Tamil Nadu, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K. Viswanathan Chartered Accountants |
|
Address : |
65/2, Thambiah Reddy Road, West Mambalam, Chennai – 600033, TamilNadu |
|
Pan No.: |
AADPV3387L |
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CAPITAL STRUCTURE
As. on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
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|
|
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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 |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.493 |
4.432 |
1.714 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.593 |
4.532 |
1.814 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
5.461 |
1.590 |
1.231 |
|
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2] Unsecured Loans |
7.452 |
6.505 |
6.472 |
|
|
TOTAL BORROWING |
12.913 |
8.095 |
7.703 |
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DEFERRED TAX LIABILITIES |
0.254 |
0.170 |
0.120 |
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TOTAL |
20.760 |
12.797 |
9.637 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.905 |
3.839 |
3.016 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
4.998
|
9.068 |
5.224 |
|
|
Sundry Debtors |
16.935
|
12.986 |
7.912 |
|
|
Cash & Bank Balances |
3.660
|
6.304 |
1.714 |
|
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Other Current Assets |
0.545
|
1.387 |
0.776 |
|
|
Loans & Advances |
0.182
|
0.245 |
0.293 |
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Total
Current Assets |
26.320
|
29.990 |
15.919 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
|
|
Sundry Creditors |
9.191
|
21.021 |
9.293 |
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Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.282
|
0.023 |
0.021 |
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Total
Current Liabilities |
9.473
|
21.044 |
9.314 |
|
|
Net Current Assets |
16.847
|
8.946 |
6.605 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.016 |
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TOTAL |
20.760 |
12.797 |
9.637 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
58.984 |
69.301 |
41.222 |
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Other Income |
6.169 |
3.038 |
1.861 |
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TOTAL |
65.153 |
72.339 |
43.083 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
60.450 |
68.367 |
40.372 |
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Financial |
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Depreciation |
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TOTAL |
60.450 |
68.367 |
40.372 |
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PROFIT BEFORE
TAX |
4.703 |
3.972 |
2.711 |
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Less |
TAX |
1.493 |
1.254 |
0.997 |
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PROFIT AFTER TAX
|
3.210 |
2.718 |
1.714 |
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EARNING IN
FOREIGN EXCHANGE |
3.779 |
0.541 |
0.00 |
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IMPORTS VALUE |
35.738 |
53.352 |
24.753 |
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Earnings Per
Share (Rs.) |
32.10 |
27.18 |
17.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.93
|
3.76 |
3.98 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
7.97
|
5.73 |
6.58 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.56
|
11.74 |
14.32 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.62
|
0.88 |
1.49 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.95
|
6.43 |
9.38 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.78
|
1.43 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
CONTINGENT LIABILITY NOT PROVIDED FOR AS AT 31 ST MARCH 2011
·
Bank Guarantees – Rs.1.326
Millions (as at 31.03.2010 – Rs.1.132 Millions). Letters of Credit Rs.5.290
Millions (As at 31.03.2010- Rs.12.174 Millions. Claims against the company not
acknowledged as debt- Nil (As at 31.03.2010 – Nil)
·
Estimated amount of contracts remaining to be
executed on capital account and not provided for (Net Of Capital Advances)- Nil
(As.at 31.03.2010 – Nil)
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52311TN2008PTC067294 |
|
Name of the
company |
PS MEDICAL SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No. G1, “Royal Princess”, No. 8A, 1st Cross Street, 2nd
Avenue, Ashok Nagar, Chennai – 600 083, Tamilnadu, India E-Mail: psmedicalsystems@vsnl.net |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10184610 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Andhra Bank, No.265, T.T.K. Salai, Alwarpet, Chennai – 600 018, E-Mail: bmche255@andhrabank.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
1)
Composite agreement dated18th July 2011 for Rs.31.250 Millions 2)
Composite agreement dated 20th January 2012 for Rs.5.000 Millions |
|
Date of
instrument Creating the charge |
20.01.2012 |
|
Amount secured by
the charge |
Rs. 37.390 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interest: At the Applicable Base Rate 10.75% plus spread of 9%
presently at 19.25% p.a. with monthly rests
Terms of
repayment: 1)
In respect of Open Cash Credit, Performance guarantee, Letters of credit,
Forward Contracts repayment terms are not applicable. In respect of Term
Loan, repayments are to be made in 60 equated monthly instalments commencing
from 31/10/2009. 2)
In respect of new Loan of Rs.5.000 Millions,
repayments are to be made in 90 days (One time) without gestation period
which is due by 12th April 2012. Margin: Occ:
Stock 30% Book
Debts( Not More Than 90days) 50% Flc:
Cash Margin 30% B.G:
Cash Margin 30% Term
Loan : 15 % Extent and
operation of the charge: Open
Cash Credit of Rs.2.500 Millions (enhanced from Rs.1.500 Millions)
Performance/money guarantee of Rs.2.500 Millions (Reduced from 3.500
Millions), Letters of credit - Rs.17.500 Millions (enhanced from Rs.15.000
Millions) and Forward Contract facility of Rs.8.750 Millions (enhanced from Rs.75 Millions) and
continuation of existing Term Loan of Rs.1.140 Millions. New one time Term
Loan for Rs.5.000 Millions. |
|
Short particulars
of the property charged (Including location of the property) |
Entire
current assets and all movable fixed assets including its plant and machinery
located at the office premises |
|
Date of
instrument modifying the charge |
18.07.2011 |
|
Particulars of
the present modification |
In
addition to the existing charge for Rs.32.39 Millions, term loan of Rs.5.000
Millions for 90 days was sanctioned against the security of stock and book
debts enhancing the charge to 37.390 Millions. |
FIXED ASSETS:
- Plant and
Machinery
- Office
Equipments
- Computers and
Peripherals
- Furniture and
Fittings
- 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.52.68 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
46 |
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.