MIRA
INFORM REPORT
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Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SYNERGY DIAGNOSTICS PRIVATE LIMITED |
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Registered
Office : |
127-128, Laxmi Market, 1st Floor, Vartak Nagar,
Thane-400606, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.10.2000 |
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Com. Reg. No.: |
11-129252 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
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CIN No.: [Company Identification
No.] |
U85195MH2000PTC129252 |
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IEC No.: |
0300048106 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES09252A |
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PAN No.: [Permanent Account No.] |
AAECS9451N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Importer of Life Saving Drugs and Medicines. |
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No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 440000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. General
financial position is good. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and loss account of the current year is not available |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Manoj K Panday |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-41424040 |
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Date : |
20.03.2012 |
LOCATIONS
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Registered Office / Admin Office : |
127-128, Laxmi Market, Vartak Nagar, Thane (West), Maharashtra,
India |
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Tel. No.: |
91-22-41424040/ 25888153/ 25888144 |
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Fax No.: |
91-22-25855120 / 41424070 |
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E-Mail : |
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Website : |
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Area : |
1600 sq ft |
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Location : |
Owned |
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Warehouse : |
1/ 2/ 3/ 4, Adarsh Apartment, Sector 20/C, Airoli, Navi Mumbai, |
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Tel. No.: |
91-22-65114172 |
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Area : |
1000 sq ft |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Sanjay Bawsay |
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Designation : |
Director |
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Address : |
AL/6/3/14, Ashiana Apartments, Sector-5, Airoli, Navi Mumbai-400708, |
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Date of
Birth/Age : |
25.10.1957 |
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Qualification : |
B.A. with DBM |
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Date of Appointment : |
19.10.2000 |
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DIN No.: |
00321876 |
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Name : |
Mrs. Madhavi Bawsay |
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Designation : |
Chairman cum Managing Director |
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Address : |
AL/6/3/14, Ashiana Apartments, Sector-5, Airoli, Navi Mumbai-400708, |
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Date of
Birth/Age : |
09.12.1958 |
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Qualification : |
Diploma in Nursing |
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Date of Appointment : |
29.01.2001 |
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DIN No.: |
00526269 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj K Panday |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
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Sanjay Bawsay |
68500 |
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Madhavi Bawsay |
31500 |
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Total
|
100000 |
AS ON 30.09.2011
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Equity Shares
Break Up |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Life Saving Drugs and Medicines. |
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Agencies Held : |
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Exports : |
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Countries : |
Srilanka |
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Imports : |
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Countries : |
·
Israel ·
China ·
Australia |
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Terms : |
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Selling : |
Credit (60 days), Depends |
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Purchasing : |
Credit (60 days), Depends |
GENERAL INFORMATION
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Suppliers : |
·
Kamada Limited, Israel ·
Couhari Institute of Biological Products,
China |
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Customers : |
Hospitals and Medical Institution ·
Shah International ·
Rohit Shah, Gujarat ·
R. J. Medicos ·
Jagmat Singh |
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No. of Employees : |
175 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shyam Shankar Mhaskar Chartered Accountant |
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Address : |
31, 2nd Floor, Laxmi Niwas Co-operative Housing Society,
Ghantali Road, Naupada, Thane-400602, Maharashtra, India |
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Pan No.: |
AAWPM9348P |
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Subsidiaries : |
Vacc-Syn Biotech Private Limited CIN No.: - U24230MH2007PTC172190 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.100/-
each |
Rs. 10.000
Millions |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
1.425 |
1.425 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
101.665 |
67.261 |
24.539 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
111.665 |
68.686 |
25.964 |
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LOAN FUNDS |
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1] Secured Loans |
146.827 |
69.927 |
13.104 |
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2] Unsecured Loans |
0.338 |
1.377 |
6.090 |
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TOTAL BORROWING |
147.165 |
71.304 |
19.194 |
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DEFERRED TAX LIABILITIES |
0.310 |
0.288 |
0.155 |
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TOTAL |
259.140 |
140.278 |
45.313 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
52.247 |
12.486 |
11.247 |
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Capital work-in-progress |
1.069 |
0.000 |
0.000 |
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INVESTMENT |
10.100 |
5.875 |
0.000 |
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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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|
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Inventories |
212.696
|
68.195
|
25.011
|
|
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Sundry Debtors |
44.084
|
60.669
|
26.397
|
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Cash & Bank Balances |
7.498
|
15.820
|
1.704
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
130.536
|
84.614
|
15.622
|
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Total
Current Assets |
394.814
|
229.298 |
68.734 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
|
52.677
|
6.365
|
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Other Current Liabilities |
|
4.605
|
5.500
|
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Provisions |
54.082
|
50.105
|
22.809
|
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Total
Current Liabilities |
199.233
|
107.387 |
34.674 |
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Net Current Assets |
195.581
|
121.911
|
34.060
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MISCELLANEOUS EXPENSES |
0.143 |
0.006 |
0.006 |
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TOTAL |
259.140 |
140.278 |
45.313 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
|
410.200 |
201.100 |
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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 (B) |
|
NA |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
72.359 |
29.356 |
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Less |
FINANCIAL
EXPENSES (D) |
|
2.518 |
2.848 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
69.841 |
26.508 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.379 |
1.025 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
68.462 |
25.483 |
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Less |
TAX (H) |
|
25.132 |
9.868 |
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PROFIT AFTER TAX
(G-H) (I) |
|
43.330 |
15.615 |
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IMPORTS |
|
|
|
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Raw Materials |
|
298.536 |
128.887 |
|
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TOTAL IMPORTS |
|
298.536 |
128.887 |
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Earnings Per
Share (Rs.) |
|
3040.71 |
1095.83 |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
500.000 |
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|
Expected Sales (2011-2012) : Rs. 540.000 Millions
The above information has been parted by Mr. Manoj K Pandey.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
10.56
|
7.76
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
28.32
|
31.86
|
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.99
|
0.98
|
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Debt Equity Ratio (Total Liability/Networth) |
|
3.10
|
2.60
|
2.07
|
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Current Ratio (Current Asset/Current Liability) |
|
1.98
|
2.13
|
1.98
|
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
------ |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
No |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
Yes |
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17. Major suppliers |
Yes |
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18. Major customers |
Yes |
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19. Payments terms |
Yes |
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20. Export / Import details |
Yes |
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21. Market information |
------- |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
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24. Banking facility details |
Yes |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
------ |
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29. Last accounts filed at ROC |
------ |
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30. Major Shareholders, if available |
------ |
SUNDRY CREDITORS
DETAILS:
|
Particulars
|
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
Sundry Creditors other than SSIU |
NA
|
52.677
|
6.365
|
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FORM 8
|
Corporate identity
number of the company |
U85195MH2000PTC129252 |
|
Name of the
company |
SYNERGY DIAGNOSTICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
127 – 128, Laxmi Market, 1st Floor, Vartak Nagar, Thane –
400606, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
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Particular of
charge holder |
Bank of India, Vandana House Near Vandana Cinema, L B S Marg, Thane - 400602, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental deed
of hypothecation dated 25.10.2011 |
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Date of
instrument Creating the charge |
25.10.2011 |
|
Amount secured by
the charge |
Rs. 180.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1. For Cash
Credit and WCDL@3% Over BR presently @12.50% P.A. with monthly rest 2. For NFBL as
existing 3. CC stock
includes ADHOC limit of 15.000 Millions Terms of repayment Repayable with
interest @ 3% over BR presently 12.50% p.a. With monthly rest for cash credit
and WCDL facility Margin 1. Cash Credit -
25% against stock - 40% against book
debts 2. Inland/Foreign
- bank guarantee-20% 3. Inland/Foreign
- letter of credit-20% Extent and operation of the charge By this
modification original hypothecation charge of Rs. 80.000 Millions dated
17.12.2009 increased to Rs.105.000 Millions on 20.08.2010 further increased
to Rs.125.000 Millions on 27.08.2010 reduced to Rs.100.000 Millions and again
increased to Rs.150.000 Millions on 18.12.2010 further increased to
Rs.195.000 Millions on 08.03.2011 and reduced to Rs. 180.000 Millions on
09.06.2011 now continued with modified terms at the amount of Rs.180.000
Millions by extending the ad hoc limit of cc - stock for another 90 days. |
|
Short particulars
of the property charged (Including location of the property) |
All Tangible
Movable Machineries Installed In Borrowers Premises Godown At Gala No. 127 To
129 Laxmi Market, Vartak Nagar Thane and Shop No 1 To 4 Plot No 8-81 Sector
20 Airoli Navi Mumbai All Tangible
Movable Properties Assets and Stocks of Raw Material Situated At Gala No 127
To 129 Laxmi Market Vartak Nagar Thane and Shop No 1 To 4 Plot No8-81 Sector
20 Airoli Navi Mumbai All Present And
Future Book Debts Out standings |
|
Charge
identification number of the charge to be modified |
10198244 |
|
Date of
instrument modifying the charge |
09.06.2011 |
|
Particulars of
the present modification |
With This
Modification The Original Hypothecation Charge of Rs.80.000 Millions
Increased To Rs.105.000 Millions Further Increased To Rs.125.000 Millions
Reduced To Rs.100.000 Millions Then Increased To Rs.150.000 Millions Further
Increased To 195.000 Millions Reduced To Rs.180.000 Millions Now Stands
Modified In The Terms Due To Extension By 90 Days of The ADHOC Limit Against
Stock Cash Credit With Aggregate Limits Continuing At 180.000 Millions
Comprising of WCFBL-115.000 Millions and NFBL 65.000 Millions. |
TRADE REFERENCES:
·
Shah International
·
Rohit Shah, Gujarat
·
R. J. Medicos
·
Jagmat Singh
·
Kamada Limited, Israel
·
Couhari Institute of Biological Products,
China
FIXED ASSETS:
- Land
- Office Premises
- Godown
- Office Equipments
- Furniture and Fixtures
- Plant and Machinery
- Vehicles
- Computers
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. 50.59 |
|
|
1 |
Rs. 80.34 |
|
Euro |
1 |
Rs. 67.13 |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.