MIRA
INFORM REPORT
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Report Date : |
02.01.2012 |
IDENTIFICATION DETAILS
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Name : |
LANCER MEDICAL TECHNOLOGY PRIVATE LIMITED |
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Registered Office
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41, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.10.2003 |
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Com. Reg. No.: |
04-043027 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 millions |
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CIN No.: [Company Identification
No.] |
U33112GJ2003PTC043027 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00815D |
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PAN No.: [Permanent Account No.] |
AAACL9516B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Bio Medical Company |
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No. of Employees
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Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 23000 |
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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. There
appears some dip in the turnover and profitability of the company. However, 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 for normal business 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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
LOCATIONS
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Registered Office/ Marketing office : |
41, |
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Tel. No.: |
91-79-26854537/38 |
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Fax No.: |
91-79-26854539 |
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E-Mail : |
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Website : |
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Admin Office : |
E-30, G.I.D.C Electronic Estate, Sector -26, Gandhinagar – 382028, |
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Tel. No.: |
91-79-23241379/80 |
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Fax No.: |
91-79-23241465 |
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Works : |
A/8, G.I.D.C Electronic Estate, Sector -15, Gandhinagar – 382028,
Gujarat, India |
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Tel. No.: |
91-79-23287462 |
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Works (Sez) : |
29-58, |
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Tel. No.: |
91-261-2398411 |
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Fax No.: |
91-261-2398419 |
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Overseas Office : |
Located At: |
DIRECTORS
As on 29.09.2011
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Name : |
Mr. Arvindbhai Lavjibhai Patel |
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Designation : |
Director |
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Address : |
4, Manuchandra Society, Thaltej, Ahmedabad – 380054, |
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Date of Birth/Age : |
17.08.1958 |
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Date of Appointment : |
08.10.2003 |
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DIN No.: |
00085612 |
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Other
Directorship:
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Name : |
MR. Dineshbhai Lavjibhai Patel |
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Designation : |
Director |
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Address : |
17, Vittthal Nagar Society, |
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Date of Birth/Age : |
13.08.1968 |
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Date of Appointment : |
08.10.2003 |
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DIN No.: |
00091594 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
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Names of Shareholders |
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No. of Shares |
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Sahajanand Laser Technology Limited, |
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49990 |
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Dineshbhai Lavjibhai Patel |
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1 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
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Category |
Percentage |
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Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Bio Medical Company |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ilyas Gheri and Company Chartered Accountant |
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Address : |
Plot No.315/2, Sector 7/A, Gandhinagar – 382007, |
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PAN.: |
ALLPG3201D |
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Holding Company : |
Sahajanand Laser Technology Limited CIN NO.: U30007GJ2002PLC040659 |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.235 |
4.479 |
3.159 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.735 |
4.979 |
3.259 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
10.519 |
23.019 |
29.736 |
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TOTAL BORROWING |
10.519 |
23.019 |
29.736 |
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DEFERRED TAX LIABILITIES |
0.529 |
0.259 |
0.021 |
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TOTAL |
16.783 |
28.257 |
33.016 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.698 |
3.891 |
1.043 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
29.767
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17.544 |
22.186 |
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Sundry Debtors |
22.055
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21.854 |
21.056 |
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Cash & Bank Balances |
0.472
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5.996 |
4.446 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.063
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2.968 |
5.370 |
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Total
Current Assets |
54.357
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48.362 |
53.058 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
42.225
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22.953 |
20.921 |
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Other Current Liabilities |
1.025
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1.125 |
0.000 |
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Provisions |
0.122
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0.018 |
0.416 |
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Total
Current Liabilities |
43.372
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24.096 |
21.337 |
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Net Current Assets |
10.985
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24.266 |
31.721 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.152 |
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TOTAL |
16.783 |
28.257 |
33.016 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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22.122 |
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Other Income |
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TOTAL |
21.122 |
36.848 |
37.181 |
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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 |
19.992 |
34.418 |
33.913 |
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PROFIT BEFORE
TAX |
1.130 |
2.429 |
3.267 |
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Less |
TAX |
0.375 |
1.109 |
1.294 |
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PROFIT AFTER TAX
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0.755 |
1.320 |
1.973 |
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EARNINGS IN
FOREIGN CURRENCY |
0.314 |
2.188 |
1.107 |
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CIF Value of
Imports |
0.028 |
0.952 |
5.287 |
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Earnings Per
Share (Rs.) |
15.10 |
26.40 |
22.38 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
3.58
|
3.58 |
5.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.88
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4.65 |
6.04 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20
|
0.49 |
1.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.40
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9.46 |
15.67 |
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Current Ratio (Current Asset/Current Liability) |
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1.25
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2.00 |
2.49 |
LOCAL AGENCY FURTHER INFORMATION
Notes: The registered office
address has been changed from E-30, GIDC, Electronics Estate, Sector – 26,
Gandhinagar – 382028,
FINANCIAL RESULTS
During the year under consideration the company has earned profit of
Rs.0.755 millions after provision of taxation. The directors have not
recommended and dividend to the shareholders. The directors except very bright
future of the company
FIXED ASSETS
- Computer
- Sealing
Machine
- Office
Equipment
- Furniture and
Fixture
- Software
WEBSITE DETAILS
ABOUT US
Subject is a young offshoot of Sahajanand Laser Technology
Limited is in stents manufacturing with technology transfer from SLT Gmbh,
They are currently a growing team of 60 persons (40 in manufacturing) with an average age of 29years. The team comprises of Engineers, Designers, R and D Chemists, QA personnel, Regulatory and Clinical people and Marketing functions
SLTL has Government recognized R&D
Department where various projects like listed below are ongoing
1) EPC Coated Stent
2) EPC + DES Stent
3) Nano Particle Coated Stent
4)Percutaneous Valve replacement using Bovine Jugular vein
5) Stem cell therapy
6) Hip and Knee joint replacement
SLTL has more than a decade of experience in Laser Technology plus Interventional Medical Field promoted by qualified bio medical engineers, medics and technocrats. SLTPL Has won prestigious awards. One International award for QC in 2006, Five National awards for Successful in house R&D with its commercialization and two state level awards for entrepreneurship
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.53.27 |
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|
1 |
Rs.82.09 |
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Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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42 |
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 |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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.