MIRA
INFORM REPORT
|
Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ABBOTT HEALTHCARE PRIVATE LIMITED (w.e.f.08.05.2002) |
|
|
|
|
Formerly Known
As : |
KNOLL INTERNATIONAL PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Unit No.4, Corporate Park, Sion, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.12-2010 |
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|
|
|
Date of
Incorporation : |
01.01.1997 |
|
|
|
|
Com. Reg. No.: |
11-104834 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24200MH1997PTC104834 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK06799C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK3935D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Products. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 431800000 |
|
|
|
|
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. The
company has incurred a loss in the closing year i.e. December, 2010. However,
networth of the company appears to be satisfactory. 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 / Corporate Office : |
Unit No.4, Corporate Park, Sion, |
|
Tel. No.: |
91-22-67978888 |
|
Fax No.: |
91-22-67978733 |
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E-Mail : |
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|
Website : |
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|
Factory : |
L-18, Verna Industrial Area, Verna Salcette, Goa-403722, Maharashtra,
India |
|
Tel. No.: |
91-832-2783415 |
DIRECTORS
AS ON 29.06.2011
|
Name : |
Mr. Rajesh Upendra Pandya |
|
Designation : |
Director |
|
Address : |
B/23, 5th Floor, Sangam Apartment, 161 Versova Lane,
Andheri (west), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1963 |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
00096606 |
|
|
|
|
Name : |
Mr. Rehan Abbas Khan |
|
Designation : |
Director |
|
Address : |
24001/02, A-Wing, 24th Floor, Siddhivinayak Horizon, CHS,
Veer Nariman Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1969 |
|
Date of Appointment : |
16.03.2009 |
|
Date of Cessation : |
15.03.2012 |
|
DIN No.: |
02616924 |
|
|
|
|
Name : |
Mr. Thomas C Freyman |
|
Designation : |
Director |
|
Address : |
912, |
|
Date of Birth/Age : |
08.09.1954 |
|
Date of Appointment : |
02.05.2003 |
|
DIN No.: |
00654517 |
KEY EXECUTIVES
|
Name : |
Mr. Kiran M Ravi |
|
Designation : |
Secretary |
|
Address : |
2B,92, Kalpataru, |
|
Date of Birth/Age : |
18.08.1977 |
|
Date of Appointment : |
01.09.2009 |
|
Pan No.: |
AFLPM7387Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Shareholders details are not available.
AS ON 19.01.2012
|
Names of Allotees |
No. of Shares |
|
Abbott Asia Holding Limited, United
Kingdom |
225045 |
|
TOTAL |
225045 |
AS ON 29.06.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Standard Chartered Bank, 90 M G Road, Fort,
Mumbai-400001, Maharashtra, India |
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|
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Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
BNP Paribas, French Bank Building, Fort, Mumbai – 400001, |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Hanskins and sells Chartered Accountant |
|
Address : |
12, |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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Pan No.: |
AACFD4815A |
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|
|
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Holding Company : |
Abbott Asia Holdings Limited, UK |
CAPITAL STRUCTURE
AFTER 29.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29700000 |
Equity Shares |
Rs.10/- each |
Rs. 297.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2381000 |
Equity Shares |
Rs.10/- each |
Rs. 23.810
Millions |
|
|
|
|
|
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29700000 |
Equity Shares |
Rs.10/- each |
Rs. 297.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
|
|
|
|
|
NOTE
The entire paid up Equity share capital is
held by Abbott Asia Holdings Limited, UK, the holding Company, a subsidiary of
Abbott Laboratories, USA and its nominee.
AS ON 29.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29700000 |
Equity Shares |
Rs.10/- each |
Rs. 297.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2155955 |
Equity Shares |
Rs.10/- each |
Rs. 21.559
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 (13th
Months) |
30.11.2009 |
30.11.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
107637.200 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
329.344 |
1260.179 |
1123.721 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
107971.544 |
1265.179 |
1128.721 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
394.493 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108366.037 |
1265.179 |
1128.721 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
173280.749 |
336.160 |
260.710 |
|
|
Capital work-in-progress |
799.700 |
0.832 |
2.989 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
35.986 |
23.986 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2418.480
|
465.524
|
481.715 |
|
|
Sundry Debtors |
2006.658
|
508.289
|
447.694 |
|
|
Cash & Bank Balances |
5727.870
|
804.495
|
508.901 |
|
|
Other Current Assets |
21.202
|
1.539
|
0.227 |
|
|
Loans & Advances |
1073.970
|
187.266
|
66.864 |
|
Total
Current Assets |
11248.180
|
1967.113 |
1505.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1836.719
|
656.814
|
491.790 |
|
|
Other Current Liabilities |
74076.402
|
388.392
|
61.648 |
|
|
Provisions |
1049.471
|
29.706
|
110.927 |
|
Total
Current Liabilities |
76962.592
|
1074.912 |
664.365 |
|
|
Net Current Assets |
(65714.412)
|
892.201
|
841.036 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108366.037 |
1265.179 |
1128.721 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 (13th
Months) |
30.11.2009 |
30.11.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
12134.402 |
4116.374 |
3396.240 |
|
|
|
Other Income |
NA |
NA |
46.686 |
|
|
|
TOTAL (A) |
NA |
NA |
3442.926 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Finished Goods |
|
|
2047.287 |
|
|
|
Administrative and Selling Expenses |
|
|
736.398 |
|
|
|
(increase)/ Decrease in Inventory |
|
|
(241.682) |
|
|
|
TOTAL (B) |
NA |
NA |
2542.003 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
900.923 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
900.832 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
67.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(310.258) |
221.708 |
833.672 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
620.577 |
85.250 |
299.336 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(930.835) |
136.458 |
534.336 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR YEARS
ADJUSTMENTS |
0.000 |
0.000 |
(0.782) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1078.414 |
941.956 |
635.351 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
-- |
-- |
149.580 |
|
|
|
Corporate Dividend on Interim Dividend |
-- |
-- |
25.421 |
|
|
|
Revenue Reserves |
-- |
-- |
53.512 |
|
|
BALANCE CARRIED
TO THE B/S |
147.579 |
1078.414 |
941.956 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement of Expenses |
NA |
2.553 |
25.886 |
|
|
TOTAL EARNINGS |
NA |
2.553 |
25.886 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
2077.237 |
1589.880 |
|
|
|
Stores & Spares |
NA |
13.089 |
8.232 |
|
|
|
Capital Goods |
NA |
117.329 |
63.534 |
|
|
TOTAL IMPORTS |
NA
|
2207.655 |
1661.646 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1861.67) |
-- |
1070.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 (13th
Months) |
30.11.2009 |
30.11.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
15.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.56)
|
5.39 |
24.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.17)
|
9.48 |
47.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.00)
|
0.18 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.72
|
0.85 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.15
|
1.83 |
2.26 |
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. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
NOTE
Registered Office Address of the company has been shifted from Unit No.3
and 4 Corporate Parksion Trombay Road, Chembur, Mumbai – 400071, Maharashtra,
India to present w.e.f. 13.07.2009
FIXED ASSETS
- Leasehold Improvement
- Machinery and Equipments
- Vehicles
- Furniture, Fittings and Office Equipments
- 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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 55.58 |
|
|
1 |
Rs. 87.14 |
|
Euro |
1 |
Rs. 69.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.