MIRA
INFORM REPORT
|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
FRESENIUS MEDICAL CARE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11th Floor, Gopal Dass Tower, Barakhamba Road, Connaught
Place, New Delhi-110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.03.2006 |
|
|
|
|
Com. Reg. No.: |
55-147436 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.88.380
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231DL2006FTC147436 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELF03117C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF9636N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Sale and Marketing of Medical Equipments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. It is progressing well. Trade
relations are reported as trustworthy. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
11th Floor, Gopal Dass Tower, Barakhamba Road, Connaught
Place, New Delhi-110001, India |
|
Tel. No.: |
91-11-45509500/45643300 |
|
Fax No.: |
91-11-45643300 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
No. 1, 7th Floor, Kasi Arcade, # 116, Sir Thyagaraya Road,
T-Nagar, Chennai-600017, Tamilnadu, India |
|
Tel. No.: |
91-44-43960900 |
|
Fax No.: |
91-44-43960915 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Frank Michael Wagner |
|
Designation : |
Director |
|
Address : |
Flat No. 19B, Branksome Grande, No. 3, Tregunter Path, Mid Levels, 0,
Hong Kong |
|
Date of Birth/Age : |
21.07.159 |
|
Date of Appointment : |
13.03.2006 |
|
Din No.: |
00945149 |
|
|
|
|
Name : |
Mr. Roberto Fernandez Fuste |
|
Designation : |
Director |
|
Address : |
House No. 8, Chuk Kok Village, Sai Kunk Nt, 0, Hong Kong |
|
Date of Birth/Age : |
25.01.1952 |
|
Date of Appointment : |
13.03.2006 |
|
Din No.: |
00951680 |
|
|
|
|
Name : |
Mr. Dhruv Chaturvedi |
|
Designation : |
Director |
|
Address : |
50, 1st Floor, Habitat Floor, Jaipuria Enclave, Kaushambi,
Ghaziabad-201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.10.1972 |
|
Date of Appointment : |
13.03.2006 |
|
Din No.: |
01368390 |
|
|
|
|
Name : |
Mr. Rakesh Mittal |
|
Designation : |
Director |
|
Address : |
D-182-A, Raj Nagar, II Palam Colony, Mangla Puri, New Delhi-110045,
India |
|
Date of Birth/Age : |
21.05.1974 |
|
Date of Appointment : |
08.03.2011 |
|
Din No.: |
03438358 |
KEY EXECUTIVES
|
Name : |
Ms. Aashima Kalra |
|
Designation : |
Secretary |
|
Address : |
C-61, Third Floor, Street No. 3, F Block, Janta Garden Pandav Nagar,
Mayur Vihar, Phase I, New Delhi-110092, India |
|
Date of Birth/Age : |
01.01.1985 |
|
Date of Appointment : |
01.07.2010 |
|
Pan No.: |
AWSPK5658G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Fresenius Medical Care Beteiligungsgesellschaft MBH, Germany |
|
8704200 |
|
Fresenius Medical Care Deutschland GmbH, Germany |
|
133800 |
|
|
|
|
|
Total |
|
8838000 |
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 : |
Sale and Marketing of Medical Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City,
Phase-II, Gurgaon-122002, Haryana, India |
|
Pan No.: |
AADFB6889R |
|
|
|
|
Ultimate Holding Company : |
Fresenius Medical Care AG and Co. KGaA |
|
|
|
|
Holding Company : |
Fresenius Medical Care Beteiligungsgesellschaft mbH |
|
|
|
|
Fellow Subsidiaries : |
·
Fresenius Medical Care Asia-Pacific Limited, Hong
Kong ·
Fresenius Medical Care Deutschland GmbH, Germany ·
Fresenius Netcare GmbH, Germany ·
Biocare Technology Company Limited, Hong Kong ·
Fresenius Medical Care Technologies Malaysia SDN.
BHD. ·
Fresenius Medical Care Seating (Australia) Pty
Limited (formerly known as Artistic Healthcare seating Pty. Limited) |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8838000 |
Equity Shares |
Rs.10/- each |
Rs.88.380
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 |
|
|
|
|
|
1] Share Capital |
88.380 |
13.380 |
13.380 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
188.961 |
87.248 |
7.080 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
277.341 |
100.628 |
20.460 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
1.489 |
1.721 |
0.651 |
|
|
|
|
|
|
|
|
TOTAL |
278.830 |
102.349 |
21.111 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
73.962 |
54.871 |
17.161 |
|
|
Capital work-in-progress |
1.942 |
0.000 |
11.940 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
237.855
|
158.680 |
156.878 |
|
|
Sundry Debtors |
145.690
|
94.772 |
27.313 |
|
|
Cash & Bank Balances |
93.770
|
21.822 |
9.801 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
111.133
|
52.283 |
9.511 |
|
Total
Current Assets |
588.448
|
327.557 |
203.503 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
266.939
|
218.317 |
193.912 |
|
|
Other Current Liabilities |
17.495
|
15.185 |
13.030 |
|
|
Provisions |
101.088
|
46.577 |
4.551 |
|
Total
Current Liabilities |
385.522
|
280.079 |
211.493 |
|
|
Net Current Assets |
202.926
|
47.478 |
(7.990) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
278.830 |
102.349 |
21.111 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
998.916 |
753.123 |
233.215 |
|
|
|
Other Income |
0.000 |
23.845 |
0.000 |
|
|
|
TOTAL (A) |
998.916 |
776.968 |
233.215 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
564.474 |
175.933 |
|
|
|
Personnel Expenses |
|
29.605 |
13.797 |
|
|
|
Operating and Administration Expenses |
|
50.307 |
27.662 |
|
|
|
TOTAL (B) |
831.864 [Including
Financial Expenses] |
644.386 |
217.392 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
132.582 |
15.823 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.785 |
0.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
167.052 |
131.797 |
15.143 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.021 |
9.309 |
2.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
154.031 |
122.488 |
12.906 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
52.318 |
42.320 |
4.598 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
101.713 |
80.168 |
8.308 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
87.248 |
7.080 |
(1.228) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
188.961 |
87.248 |
7.080 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
694.812 |
533.949 |
174.694 |
|
|
|
Capital Goods |
|
18.866 |
21.608 |
|
|
TOTAL IMPORTS |
694.812 |
552.815 |
196.302 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.81 |
59.92 |
6.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
10.18
|
10.32 |
3.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.42
|
16.26 |
5.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.25
|
32.03 |
5.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
1.22 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
2.78 |
10.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.17 |
0.96 |
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 |
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 |
|
31) PAN
of Proprietor/Partner/Director, if available |
No |
|
32) Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33) Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from 411-412 (4th Floor), Vishwasadan Tower, District Centre, Janak Puri, New Delhi-110058, India to the present address w.e.f. 16.11.2009.
FIXED ASSETS:
·
Leasehold Improvements
·
Office Equipments
·
Demo Equipments
·
Tools
·
Computers
·
Furniture and Fixtures
·
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.55.15 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.