|
Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
VENUS SURGICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
AH 74, Shanthi Colony, Chennai – 600040, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.04.1993 |
|
|
|
|
Com. Reg. No.: |
024831 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.875 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52599TN1993PTC024831 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEV05098C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV0722B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Engaged in providing surgical instruments. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 74972 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears a slight dip in the profitability of the company. 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
AH 74, Shanthi Colony, Chennai – 600040, Tamilnadu, India |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
3362-Y, AF-8th
Street, 11th Main Road, Annanagar, Chennai - 600 040, India |
|
Tel. No.: |
91 - 44 - 2620 4748 / 2620 3073 / 2628 6956 |
|
Fax No.: |
91 - 44 - 2626 0665 |
|
|
|
|
Branches : |
Located at: · Hyderabad ·
Bangalore |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Muthalagu Chinna Narayanan
|
|
Designation : |
Director |
|
Address : |
H 32, 5th
Cross Street, Annanagar, Chennai 600 040, Tamilnadu, India |
|
Date of Appointment : |
05.04.1993 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U52599TN1993PTC024831 |
VENUS SURGICALS PRIVATE
LIMITED |
Managing director |
15/04/1993 |
15/04/1993 |
- |
Active |
NO |
|
2 |
U33112TN1998PTC041192 |
GENETIC INSTRUMENTS
PRIVATE LIMITED |
Director |
25/09/1998 |
25/09/1998 |
- |
Active |
NO |
|
3 |
U33115TN1999PTC042772 |
VENUS ORTHOCARE PRIVATE
LIMITED |
Managing director |
05/07/1999 |
05/07/1999 |
- |
Active |
NO |
|
Name : |
Mrs. Chinnanarayanan Visalakshi |
|
Designation : |
Director |
|
Address : |
H 32, 5th Cross
Street, Annanagar, Chennai 600 040, Tamilnadu, India |
|
Date of Appointment : |
05.04.1993 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U52599TN1993PTC024831 |
VENUS SURGICALS PRIVATE
LIMITED |
Director |
15/04/1993 |
15/04/1993 |
- |
Active |
NO |
|
2 |
U33115TN1999PTC042772 |
VENUS ORTHOCARE PRIVATE
LIMITED |
Director |
05/07/1999 |
05/07/1999 |
- |
Active |
NO |
|
3 |
U33112TN1998PTC041192 |
GENETIC INSTRUMENTS
PRIVATE LIMITED |
Director |
01/04/2005 |
01/04/2005 |
- |
Active |
NO |
|
Name : |
Mr. Muthayya Pillai Dinesh |
|
Designation : |
Director |
|
Address : |
Flat No. 2, 3,d Street, Sri Krishna Nagar, Kolathur, Chennai 600099, Tamilnadu, India |
|
Date of Appointment : |
05.04.1993 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U52599TN1993PTC024831 |
VENUS SURGICALS PRIVATE
LIMITED |
Director |
15/04/1993 |
15/04/1993 |
- |
Active |
NO |
|
2 |
U33112TN1998PTC041192 |
GENETIC INSTRUMENTS
PRIVATE LIMITED |
Managing director |
25/09/1998 |
25/09/1998 |
- |
Active |
NO |
|
3 |
U33115TN1999PTC042772 |
VENUS ORTHOCARE PRIVATE
LIMITED |
Director |
05/07/1999 |
05/07/1999 |
- |
Active |
NO |
|
Name : |
Mrs. Peethambaram Maya |
|
Designation : |
Director |
|
Address : |
Flat No. 2, 3,d Street, Sri Krishna Nagar, Kolathur, Chennai 600099, Tamilnadu, India |
|
Date of Appointment : |
05.04.1993 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U52599TN1993PTC024831 |
VENUS SURGICALS PRIVATE
LIMITED |
Director |
15/04/1993 |
15/04/1993 |
- |
Active |
NO |
|
2 |
U33115TN1999PTC042772 |
VENUS ORTHOCARE PRIVATE
LIMITED |
Director |
05/07/1999 |
05/07/1999 |
- |
Active |
NO |
|
3 |
U33112TN1998PTC041192 |
GENETIC INSTRUMENTS
PRIVATE LIMITED |
Director |
01/04/2005 |
01/04/2005 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
M Chinnanarayanan |
|
1800 |
|
Visalakshi Narayanan |
|
1800 |
|
M Dinesh |
|
1800 |
|
Maya Dinesh |
|
1800 |
|
Gandhimathi |
|
1550 |
|
Total |
|
8750 |
AS ON 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Engaged in providing surgical instruments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of Travancore Anna Nagar East Chennai Branch, D 105, First Main
Road, Anna Nagar East, Chennai - 600102, Tamil Nadu, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
L Mukundan and Associates Chartered Accountant |
|
Address : |
24 V V Koil Street, Teynampet, Chennai 600086, Tamilnadu, India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8750 |
Equity Shares |
Rs.100/-
each |
Rs.0.875
Million |
|
|
|
|
|
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 |
0.875 |
0.875 |
0.875 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.868 |
15.807 |
11.201 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.743 |
16.682 |
12.076 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.299 |
0.000 |
1.374 |
|
|
2] Unsecured Loans |
0.354 |
0.764 |
0.626 |
|
|
TOTAL BORROWING |
1.653 |
0.764 |
2.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20.396 |
17.446 |
14.076 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.364 |
3.728 |
4.329 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.828
|
2.528 |
3.027 |
|
|
Sundry Debtors |
15.442
|
16.112 |
12.462 |
|
|
Cash & Bank Balances |
1.644
|
2.095 |
0.384 |
|
|
Other Current Assets |
6.127
|
5.405 |
3.449 |
|
|
Loans & Advances |
2.856
|
2.495 |
2.318 |
|
Total
Current Assets |
32.897
|
28.635 |
21.640 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.562
|
6.190 |
5.396 |
|
|
Other Current Liabilities |
3.478
|
3.671 |
3.256 |
|
|
Provisions |
5.960
|
5.168 |
3.297 |
|
Total
Current Liabilities |
18.000
|
15.029 |
11.949 |
|
|
Net Current Assets |
14.897
|
13.606 |
9.691 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.135 |
0.112 |
0.056 |
|
|
|
|
|
|
|
|
TOTAL |
20.396 |
17.446 |
14.076 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
68.393 |
67.818 |
68.635 |
|
|
|
Other Income |
3.454 |
7.120 |
2.903 |
|
|
|
TOTAL (A) |
71.847 |
74.938 |
71.538 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
53.565 |
47.544 |
50.136 |
|
|
|
Administrative and other Expenses |
19.079 |
19.561 |
17.859 |
|
|
|
Increased / (Decreased) In Stock |
(4.300) |
0.499 |
(0.909) |
|
|
|
TOTAL (B) |
68.344 |
67.604 |
67.086 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.503 |
7.334 |
4.452 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.519 |
0.669 |
0.834 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.984 |
6.665 |
3.618 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.922 |
2.060 |
1.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2.062 |
4.605 |
2.257 |
|
|
|
|
|
|
|
|
|
Less |
EARLIER
YEAR TAX ADJUSTMENT |
0.000 |
0.000 |
0.409 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.062 |
4.605 |
1.848 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.87
|
6.15 |
3.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
9.83 |
5.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.80
|
20.59 |
13.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.39 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.05
|
0.95 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.90 |
1.81 |
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 |
No |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
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 |
NOTE:
The registered office address of the company
has been shifted from 3362-Y, AF-8th Street, 11th
Main Road, Annanagar, Chennai - 600 040, India to present address w.e.f.
01.06.2005
FORM 8:
|
Corporate identity number of the company |
U52599TN1993PTC024831 |
|
Name of the company |
VENUS SURGICALS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Ah 74 Shanthi Colony, Chennai-600040,
Tamil Nadu, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Immovable Property Others |
|
Particular of charge holder |
State Bank of Travancore Anna Nagar East Chennai
Branch |
|
Nature of instrument creating charge |
Hypothecation Cum Working Capital
Agreement Executed By Venus Surgicals private Limited In Favour of State Bank
of Travancore Anna Nagar East Chennai Branch For Securing Cash Credit Limit
of Rs. 2.500 Millions And Bank Guarantee of Rs. 6.500 Millions. |
|
Date of instrument Creating the charge |
16/04/2010 |
|
Amount secured by the charge |
Rs.8.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Cash Credit : 0.50% Above Sbtplr, Minimum
12.75% P.A. With Monthly Rest Terms of Repayment Cash Credit : 12 Months Bank Guarantee : 12 Months Margin Cash Credit:
Raw Materials - N.A.
Stock In Progress - N.A. Finished
Goods - 25%
Receivables (Cover Period 120 Days) - 40% Bank Guarantee:
25% Extent and Operation of the charge The Primary Charge Was Created On The
Entire Current Assets Of The Company And Collaterally Secured By Creation
Of Equitable Mortgage Of 8771 Sq.Ft.
Of Vacant Land In Plot No.:1,2 and 3, In S.No.603/A1, 603/A2 and 603/A3, Sri
Krishna Nagar, Korattur Village, Chennai 600 080 Belongs To Venus Surgicals
Private Limited and Venus Orthocare Private Limited The Above Facilities Are Guaranteed By The
Directors In Their Personal Capacity And By Venus Orthocare Private Limited |
|
Short particulars of the property charged |
Entire Current Assets Of The Company
Equitable Mortgage Of 8771 Sq.Ft. Of Vacant Land In Plot No.:1,2 and 3, In
S.No.603/A1, 603/A2 and 603/A3, Sri Krishna Nagar, Korattur Village, Chennai
600 080 |
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.56.31 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
48 |
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.