MIRA INFORM REPORT
|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
LIFELINE SERVICES PRIVATE LIMITED |
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Registered
Office : |
F-40, 1st Floor, Okhla Industrial Area, Phase I, |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
27.10.1986 |
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Com. Reg. No.: |
55-025889 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1986PTC025889 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 130000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
F-40, 1st Floor, Okhla Industrial Area, Phase I, |
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Tel. No.: |
91-11-41640924 / 41640925 / 41640926 |
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Fax No.: |
91-11-40523027 / 26810652 |
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E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Iti Aggarwal |
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Designation : |
Director |
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Address : |
W 39, Greater Kailash, Part II, |
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Date of Birth/Age : |
09.04.1978 |
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Date of Appointment : |
08.08.2002 |
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DIN No.: |
00789712 |
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Other Directorship :
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Name : |
Mr. Sanjay Aggarwal |
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Designation : |
Director |
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Address : |
W 39, Greater Kailash, Part II, |
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Date of Birth/Age : |
01.08.1972 |
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Date of Appointment : |
09.11.1995 |
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DIN No.: |
00839159 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
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Names of Shareholders |
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No. of Shares |
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Sanjay Aggarwal |
|
99939 |
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Iti Aggarwal |
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61 |
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Total |
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100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporter and Trader of Surgical Disposable. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SAM and Associates Chartered Accountants |
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Address : |
A – 48, LGF, Dayanand Colony, Lajpat Nagar – IV, New Delhi – 110024,
India |
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Tel. No.: |
91-11-26432756 |
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Mobile No.: |
91-9810034027 |
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PAN No.: |
AACFS6838G |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
250000 |
Equity Shares |
Rs.100/- each |
Rs.25.000 Millions |
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Issued :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000
Millions |
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Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000
Millions |
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Reconcilation of
Shares Capital
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|
31st March 2012 |
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Equity Shares |
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Particulars |
Number |
Rs. In Millions |
|
Issued Shares
Capital |
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Shares outstanding at the beginning of the year |
100000 |
10.000 |
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Shares Issued during the year |
0 |
0 |
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Shares bought back during the year |
0 |
0 |
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Shares outstanding at the end of the year |
100000 |
10.000 |
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Subscribed &
Fully Paidup shares |
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|
Shares outstanding at the beginning of the year |
100000 |
10.000 |
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Shares Issued during the year |
0 |
0 |
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Shares bought back during the year |
0 |
0 |
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Shares outstanding at the end of the year |
100000 |
10.000 |
Detail of
shareholders holding more than 5% shares
|
|
31st March 2012 |
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No. of Shares Held |
% of Holding |
|
Sanjay Aggarwal |
99939 |
99.94 |
|
Iti Aggarwal |
61 |
0.06 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
23.438 |
21.329 |
6.715 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
33.438 |
31.329 |
16.715 |
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LOAN FUNDS |
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1] Secured Loans |
31.071 |
41.926 |
30.121 |
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2] Unsecured Loans |
28.504 |
18.866 |
5.633 |
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TOTAL BORROWING |
59.575 |
60.792 |
35.754 |
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DEFERRED TAX LIABILITIES |
0.189 |
0.201 |
0.168 |
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TOTAL |
93.202 |
92.322 |
52.637 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.785 |
19.841 |
20.809 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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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OTHER NON-CURRENT ASSETS |
0.042 |
0.063 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
56.436
|
39.326 |
36.469
|
|
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Sundry Debtors |
20.770
|
46.833 |
53.923
|
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Cash & Bank Balances |
5.204
|
0.039 |
0.200
|
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
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Loans & Advances |
9.530
|
13.075 |
7.133
|
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Total
Current Assets |
91.940
|
99.273 |
97.725 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
6.550
|
17.323 |
48.497
|
|
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Other Current Liabilities |
8.994
|
7.185 |
14.972
|
|
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Provisions |
3.021
|
2.347 |
2.512
|
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Total
Current Liabilities |
18.565
|
26.855 |
65.981 |
|
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Net Current Assets |
73.375
|
72.418 |
31.744
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.084 |
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TOTAL |
93.202 |
92.322 |
52.637 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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|
|
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Income |
277.773 |
237.726 |
203.284 |
|
|
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Other Income |
5.141 |
3.459 |
1.380 |
|
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TOTAL |
282.914 |
241.185 |
204.664 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
278.743 |
238.624 |
201.302 |
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.171 |
2.561 |
3.362 |
|
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|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.120 |
1.333 |
2.515 |
|
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|
PROFIT BEFORE
TAX |
3.051 |
1.228 |
0.847 |
|
|
|
|
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|
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Less |
TAX |
0.943 |
0.413 |
0.276 |
|
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PROFIT AFTER TAX
|
2.108 |
0.815 |
0.571 |
|
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|
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|
|
|
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|
|
BALANCE CARRIED
TO THE B/S |
2.108 |
0.815 |
0.571 |
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
25.322 |
8.517 |
13.609 |
|
|
TOTAL EARNINGS |
25.322 |
8.517 |
13.609 |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Material |
12.667 |
3.402 |
NA |
|
|
TOTAL IMPORTS |
12.667 |
3.402 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.08 |
8.15 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.75 |
0.34 |
0.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.10 |
0.52 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.73 |
1.03 |
0.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.04 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.34 |
2.80 |
6.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.95 |
3.70 |
1.48 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
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 |
Yes |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE
Registered office of the company has been shifted from F-63, Okhla
Industrial Area, Phase I,
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U74899DL1986PTC025889 |
|
Name of the
company |
LIFELINE SERVICES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
F-40, 1st Floor, Okhla Industrial Area, Phase I, E-mail: sanjay@lifelineservices.in
|
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Corporation Bank, Overseas Bank, M-93, Connaught Place, New Delhi - 110001, India E-mail: cb0606@corpbank.co.in
|
|
Nature of
instrument creating charge |
Agreement for
Term Loan (I.D.914 Revised). |
|
Date of
instrument Creating the charge |
20.10.2012 |
|
Amount secured by
the charge |
Rs.37.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 3.20%
i.e 13.70% p.a. Terms of
Repayment To be repaid in
5years excluding a Mortarium period of 6 months as under:- 4 quarterly
instalment of Rs.1.375 Millions each in 2013-14 4 quarterly
instalment of Rs.1.500 Millions each in 2014-15 4 quarterly
instalment of Rs.2.000 Millions each in 2015-16 4 quarterly
instalment of Rs.2.500 Millions each in 2016-17 3 quarterly instalment
of Rs.2.500 Millions each in 2017-18 Margin Minimum 27.44% Extent and
Operation of the charge Rs 37.000
Millions and charge will continue till the facilities are availed. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation on
Plant and Machineries existing as well as those proposed to be purchased out
of Bank Finance. |
FIXED ASSETS:
Tangible Assets
- Land (leasehold)A‐47,Noida
- Buildings (leasehold)A‐47,Noida
- Plant and Equipment
- Dies and Moulds
- Close Circuit Camera
- Computer
- Coffee Machine
- Fax Machine
- Fire Extinguisher
- Plasma TV
- Digital TV
- Printer
- Office Equipment
- Refrigerator
- Telecom Equipments
- V. Camera
Intangible Assets
- Goodwill
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 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.54.39 |
|
|
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.