|
Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARAMOUNT SURGIMED LIMITED |
|
|
|
|
Registered
Office : |
Plot No.1, L.S.C. Okhla Industrial Area, Phase – II, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.11.1993 |
|
|
|
|
Com. Reg. No.: |
55-055981 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.105.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PLC055981 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Surgical blades, Disposable
scalpels, Stitch cutters and skin graft blades. |
|
|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. General financial position of the company appears to be sound and
healthy. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. The company can be considered for business dealing 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 : |
Ms. Neha |
|
Designation : |
Office Executive |
|
Contact No.: |
91-11-46436600 |
|
Date : |
23.11.2013 |
LOCATIONS
|
Registered Office : |
Plot No.1, L.S.C. Okhla Industrial Area, Phase – II, New |
|
Tel. No.: |
91-11-26389812 / 13 / 41616333 |
|
Fax No.: |
91-11-26389815 / 41616555 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
A – 106, RIICO Industrial Area, Bhiwadi, |
DIRECTORS
As on 29.09.2012
|
Name : |
Shaily Grover |
|
Designation : |
Managing Director |
|
Address : |
E – 31, Kalindi Colony, New Delhi – 110065, India |
|
Date of Birth/Age : |
28.01.1967 |
|
Date of Appointment : |
06.12.1993 |
|
DIN No.: |
00057763 |
|
PAN No.: |
AAGPG8808E |
|
|
|
|
Name : |
Mr. Raghu Nathrai Grover |
|
Designation : |
Whole-time director |
|
Address : |
S-526, Greater Kailash, New Delhi – 110048, India |
|
Date of Birth/Age : |
05.07.1935 |
|
Date of Appointment : |
06.12.1993 |
|
DIN No.: |
00128398 |
|
|
|
|
Name : |
Mr. Manu Grover |
|
Designation : |
Director |
|
Address : |
S-526, Greater Kailash, New Delhi – 110048, India |
|
Date of Birth/Age : |
25.01.1973 |
|
Date of Appointment : |
09.08.2004 |
|
DIN No.: |
00898391 |
|
PAN No.: |
AFZPG2302R |
|
|
|
|
Name : |
Mr. Ghansham Dass Khemani |
|
Designation : |
Director |
|
Address : |
73, Vasant Enclave, DDA Flats, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
25.08.1935 |
|
Date of Appointment : |
24.10.2005 |
|
DIN No.: |
00231933 |
|
|
|
|
Name : |
Mr. Balraj Krishan Sethi |
|
Designation : |
Director |
|
Address : |
C-195, Vivek Vihar, New Delhi – 110095, India |
|
Date of Birth/Age : |
30.10.1937 |
|
Date of Appointment : |
08.05.2004 |
|
DIN No.: |
00373843 |
|
|
|
|
Name : |
Mr. Rana Pratap Sharma |
|
Designation : |
Director |
|
Address : |
B-5/38, Sector – 4, Rohini, New Delhi – 110085, India |
|
Date of Birth/Age : |
03.09.1934 |
|
Date of Appointment : |
21.11.2006 |
|
DIN No.: |
00398990 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Goel |
|
Designation : |
Director |
|
Address : |
Green Glade Apartments, 2319, Block – B, Pocket – 2, Vasant Kunj, New
Delhi – 110070, India |
|
Date of Birth/Age : |
05.01.1968 |
|
Date of Appointment : |
08.05.2006 |
|
DIN No.: |
00021215 |
|
|
|
|
Name : |
Mr. Chandra Shekhar Shukla |
|
Designation : |
Director |
|
Address : |
31C, Pocket #B, Siddhartha Extenstion, New Delhi – 110014, India |
|
Date of Birth/Age : |
03.01.1942 |
|
Date of Appointment : |
29.09.2009 |
|
Voter ID No.: |
DL\01\005\306553 |
|
DIN No.: |
02579246 |
KEY EXECUTIVES
|
Name : |
Ms. Neha |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Mr. Banoj Kumar Pradhan |
|
Designation : |
Secretary |
|
Address : |
68/431, Sector – 1, R.K. Ashram Marg, Gole market, |
|
Date of Birth/Age : |
02.07.1973 |
|
Date of Appointment : |
11.08.2008 |
|
PAN : |
AHXPP5536E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Raghu Nathrai Grover |
3824810 |
|
Shaily Grover |
3136420 |
|
Indu Grover |
329010 |
|
Ashish Grover |
823040 |
|
Manu Grover |
878040 |
|
Deepali Gorver |
70000 |
|
Meera Grover |
217500 |
|
United Poly Engineering Private Limited, |
891080 |
|
Anisha Grover |
80100 |
|
TOTAL
|
10250000 |
As on 06.03.2013
|
Names of Allottees |
No. of Shares |
|
Raghu Nathrai Grover |
70000 |
|
Shaily Grover |
50000 |
|
Manu Grover |
50000 |
|
Meera Grover |
50000 |
|
Dhruv Grover |
30000 |
|
Deepali Gorver |
|
|
TOTAL
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
8.69 |
|
Directors or relatives of Directors |
91.31 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Surgical blades, Disposable
scalpels, Stitch cutters and skin graft blades. |
||||
|
|
|
||||
|
Products : |
§
Surgical Blades §
Safety Scalpels §
Skin Graft Blades §
Blood Lancet §
Gouge Blades §
Biopsy Punch §
Disposable Scalpels §
Stitch Cutters §
Postmortem Blades §
Ophthalmic Knife §
Metal Handles §
Dental Blades §
Hobby Blades § Microtome Blades
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
·
Surgical blades ·
Disposable scalpels ·
Stitch cutters ·
Skin graft blades |
||||
|
Countries : |
·
France ·
Italy ·
Germany |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Blades S.S. |
Nos. |
- |
3486300 |
|
Scalpels |
Nos. |
40000000 |
5560390 |
|
Blades Carbon |
Nos. |
- |
22543800 |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
70 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
§ Indian Overseas Bank, Defence Colony Branch, Unit 19 and 22, Moolchand Shopping Complex, Defence Colony, New Delhi - 110024, India § Deutsche Bank § ICICI Bank Limited § Axis Bank Limited §
HDFC Bank Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Agarwal and
Company Chartered Accountants |
|
Address : |
123, Vinoba Puri Lajapat Nagar-Ii |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AFUPG8313H |
|
|
|
|
Subsidiaries : |
· Saboori Collezione International Private Limited CIN : U33112DL2006PTC149031 |
|
|
|
|
Associate: |
·
G.S.T. Corporation Limited, India CIN: U33119DL2012PLC235348 ·
R.N. Grover and sons |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10500000 |
Equity Shares |
Rs.10/- each |
Rs. 105.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
FINANCIAL DETAILS ATTACHED
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits from others |
1.425 |
1.825 |
|
Loans and advances from related parties |
17.748 |
16.650 |
|
Total |
19.173 |
18.475 |
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10461424 |
30/09/2013 |
2,500,000.00 |
INDIAN OVERSEAS BANK |
UNIT NO. 19 AND
22, MOOLCHAND SHOPPING, CUM OFFICE |
B90034596 |
|
2 |
10417794 |
12/02/2013 |
5,000,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY
BRANCH, MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI -
110024, INDIA |
B72617228 |
|
3 |
10417818 |
12/02/2013 |
5,000,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY BRANCH,
MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI - 110024, INDIA |
B72621279 |
|
4 |
10381804 |
24/09/2012 |
23,000,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY BRANCH,
MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI - 110024, INDIA |
B60172657 |
|
5 |
10376273 |
30/07/2012 |
60,000,000.00 |
DEUTSCHE BANK |
28, ECE HOUSE,
K.G.MARG, NEW DELHI, DELHI - 110001, INDIA |
B58008202 |
|
6 |
10338950 |
24/09/2012 * |
8,300,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY
BRANCH, MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI -
110024, INDIA |
B60173960 |
|
7 |
10291404 |
24/09/2012 * |
12,500,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY
BRANCH, MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI -
110024, INDIA |
B60173846 |
|
8 |
10291406 |
24/09/2012 * |
32,500,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY
BRANCH, MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI -
110024, INDIA |
B60172814 |
|
9 |
10191184 |
26/11/2009 |
5,000,000.00 |
INDIAN OVERSEAS BANK |
UNIT
NO.19&22,MOOLCHAND SHOPPING-CUM-OFFICE, COMP LEX,DEFENCE COLONY,RING
ROAD, NEW DELHI, DELHI - 1 |
A75304998 |
|
10 |
10103438 |
24/09/2012 * |
1,200,000.00 |
INDIAN OVERSEAS BANK |
DEFENCE COLONY
BRANCH, MOOLCHAND SHOPPING COMPLEX, DEFENCE COLONY, NEW DELHI, DELHI -
110024, INDIA |
B60173697 |
* Date of charge modification
FIXED ASSETS
·
Tangible assets
·
Land
·
Buildings
·
Office building
·
Factory building
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Intangible assets
·
Computer software
·
Patents
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 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.61.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.