|
Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIMPLEX ORTHOPEADIC PRIVATE LIMITED |
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Registered
Office : |
12, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.09.1997 |
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Com. Reg. No.: |
55-089385 |
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Capital
Investment / Paid-up Capital : |
Rs.0.304
million |
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CIN No.: [Company Identification
No.] |
U33119DL1997PTC089385 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS13074F |
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PAN No.: [Permanent Account No.] |
AABCS5975N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter
of a wide range of Orthopedic
Implants and Orthopedic Instruments. |
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|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 39000 |
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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. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Rakesh Kumar Dhall |
|
Designation : |
Director |
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Contact No.: |
91-9815633336 |
|
Date : |
30.10.2012 |
LOCATIONS
|
Registered Office : |
12, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9815633336 (Mr. Rakesh Kumar Dhall) |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office/ Factory : |
B-29/536, 12-C/5A, Single Cycle Road, Opposite Dhandari Railway
Station, |
|
Tel. No.: |
91-161-2512951/ 5054633 |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rakesh Kumar Dhall |
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Designation : |
Director |
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Address : |
115-B, Shastri Nagar, |
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Date of Birth/Age : |
19.01.1963 |
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Date of Appointment : |
02.09.1997 |
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DIN No.: |
00331359 |
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Other Directorship :
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Name : |
Mrs. Sunita Rani Dhall |
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Designation : |
Additional Director |
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Address : |
H.No.114-115B, Shastri Nagar, |
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Date of Birth/Age : |
25.12.1963 |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
03526099 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh Kumar Dhall |
|
7600 |
|
Brij Mohan Dhall |
|
7600 |
|
Sunita Rani Dhall |
|
7600 |
|
Vaneeta Rani Dhall |
|
3600 |
|
Ram Nath Dhall |
|
4000 |
|
Total |
|
30400 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter
of a wide range of Orthopedic
Implants and Orthopedic Instruments. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
2010-11 |
|
Licensed Capacity |
N.A. |
|
Installed Capacity |
N.A. |
|
Actual Production |
245355.00 Pcs. |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Financial Institution : |
HDB Financial
Services Limited, Radhika, 2nd Floor, Law Garden Road,
Navrangpura, Ahmedabad – 380 009, Gujarat, India |
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|
|
|
Auditors : |
|
|
Name : |
Sanjeev Soota and Associates Chartered Accountants |
|
Address : |
204, LSC, Pocket-B, Phase-III, Ashok Vihar, |
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Tel. No.: |
91-11-27458495/ 27438495/ 42263395 |
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Mobile No.: |
91-9891092555 |
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E-Mail : |
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|
Website : |
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Income-tax
PAN of auditor or auditor's firm : |
ABSFS6846D |
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|
|
|
Other Related Parties : |
Simplex
Forgings Address: 12, Line of Business: Manufacturer and Exporter of
a wide range of Orthopedic
Implants and Orthopedic Instruments. Simplex Medical Private Limited Simplex Surgical Industries |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each
|
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30400 |
Equity Shares |
Rs.10/- each
|
Rs.0.304
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 |
0.304 |
0.304 |
0.304 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.502 |
8.223 |
5.992 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.806 |
8.527 |
6.296 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.711 |
1.248 |
1.559 |
|
|
2] Unsecured Loans |
22.364 |
0.094 |
0.094 |
|
|
TOTAL BORROWING |
24.075 |
1.342 |
1.653 |
|
|
DEFERRED TAX LIABILITIES |
0.937 |
0.947 |
0.524 |
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|
|
|
|
|
|
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TOTAL |
34.818 |
10.816 |
8.473 |
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|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
14.825 |
14.395 |
11.589 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.177
|
0.220 |
0.770 |
|
|
Sundry Debtors |
2.632
|
1.164 |
0.627 |
|
|
Cash & Bank Balances |
6.551
|
2.265 |
3.643 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.715
|
3.399 |
2.808 |
|
Total
Current Assets |
27.075
|
7.048 |
7.848 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.137
|
5.415 |
5.045 |
|
|
Other Current Liabilities |
0.000
|
3.006 |
3.725 |
|
|
Provisions |
0.945
|
2.206 |
2.194 |
|
Total
Current Liabilities |
7.082
|
10.627 |
10.964 |
|
|
Net Current Assets |
19.993
|
(3.579) |
(3.116) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.818 |
10.816 |
8.473 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
39.108 |
37.813 |
35.722 |
|
|
|
Job Receipts |
0.000 |
0.000 |
0.122 |
|
|
|
Other Income |
0.023 |
0.022 |
0.010 |
|
|
|
TOTAL (A) |
39.131 |
37.835 |
35.854 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
22.238 |
18.449 |
18.980 |
|
|
|
Wages |
2.591 |
2.785 |
3.007 |
|
|
|
Job Charges |
0.339 |
1.324 |
0.874 |
|
|
|
Water & Electricity Charges – Factory |
0.429 |
0.532 |
0.485 |
|
|
|
Consumable Stores |
0.927 |
1.564 |
1.031 |
|
|
|
Tools Consumed |
0.424 |
1.228 |
0.952 |
|
|
|
Salary and Allowances |
0.839 |
0.602 |
0.604 |
|
|
|
Directors Remuneration |
1.544 |
2.136 |
1.200 |
|
|
|
Employee Welfare |
0.186 |
0.207 |
0.192 |
|
|
|
Vehicle Maintenance |
0.165 |
0.239 |
0.154 |
|
|
|
Packing, Labeling & Forwarding Expenses |
0.529 |
0.360 |
0.278 |
|
|
|
Building Repair & Maintenance |
0.810 |
0.146 |
0.171 |
|
|
|
Other Expenses |
4.035 |
2.389 |
2.205 |
|
|
|
TOTAL |
35.056 |
31.961 |
30.133 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.075 |
5.874 |
5.721 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.109 |
1.883 |
1.676 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.966 |
3.991 |
4.045 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.686 |
1.759 |
1.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.280 |
2.232 |
2.778 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
8.223 |
5.991 |
3.213 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.503 |
8.223 |
5.991 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
0.317 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
0.317 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.11 |
73.42 |
91.38 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
50.600 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.50.000 millions
The above information has been parted by Mr. Rakesh Kumar Dhall
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.27
|
5.90 |
7.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.03
|
10.55 |
11.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.69
|
18.61 |
20.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.47 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.18
|
1.40 |
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.82
|
0.66 |
0.72 |
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
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:
The registered office of the company has been shifted from IIIrd Floor, A-1,
Chandra House, Mukherjee Nagar, Delhi – 110 009 to the present address
w.e.f. 08.09.2008.
OPERATIONS:
During this year, the Company had a turnover of Rs.39.108 millions as
against turnover of Rs.37.813 millions during the preceding year. This resulted
in increase in turnover by 3.42% approximately. During the year the company
posted profit before tax of Rs.1.966 millions as against Rs.3.991 millions in
the immediately preceding year. In the next year, the company expects to do
even better.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U33119DL1997PTC089385 |
|
Name of the
company |
SIMPLEX ORTHOPEADIC PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
12, E-Mail: ssoota@airtelmail.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
CIN No.: U65993GJ2007PLC051028 HDB Financial
Services Limited, Radhika, 2nd Floor, Law Garden Road,
Navrangpura, Ahmedabad – 380 009, Gujarat, India E-Mail: rakesh.pathak@hdbfs.com |
|
Nature of description
of the instrument creating or modifying the charge |
Loan Agreement
No.262776 |
|
Date of
instrument Creating the charge |
30.06.2012 |
|
Amount secured by
the charge |
Rs.7.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Floating rate of
interest: FRR-19.00%, FRR-4.75% = 14.25% Terms of
Repayment: EMI Amount:
Rs.0.132 million starting from 04.08.2012 ending on 04.07.2019 (EMI-Equated
Monthly Installments) Margin: As per Agreement Extent and
Operation of the charge: 100% |
|
In case of
acquisition of property, subjected to charge, furnish the details relating to
the existing charge on the property so acquired |
Date of instrument creating or evidencing the charge: 30.06.2012 Description of the instrument creating or evidencing the charge:
Sanction Letter, DPN and Repayment Schedule Date of acquisition of the property: 30.06.2012 Amount of the charge: Rs.7.000 millions Particulars of the property charged: Immovable Property |
|
Short particulars
of the property charged |
Plot No.47-48, MC
No.B-XIX/536/12C/6, |
TRADE REFERENCES:
·
Navjyoti Steel,
·
Narang Medical Limited,
FIXED ASSETS:
·
·
·
Air Conditioner
·
Motor Car
·
Fax Machine
·
Machinery
·
Polishing Machine
·
Typewriter
·
Cell Phone
·
Generator
·
UPS
·
Office Equipments
·
Computer and Peripherals
·
Electrical Fitting
·
Electrical Fitting (New
Building)
·
Fan
·
Scooter
·
Land
·
Motor Cycle
·
Refrigerator
·
Cycle
·
Laptop
·
Equipment and Instrument
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.53.81 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.