MIRA
INFORM REPORT
|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEDSOURCE OZONE BIOMEDICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
238 LGF,
Sant Nagar, East of Kailash, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.05.2003 |
|
|
|
|
Com. Reg. No.: |
55-120213 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.15.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239DL2003PTC120213 |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter
and Trader of Medical Equipments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears huge accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings on a secured 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) |
|
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
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
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.
LOCATIONS
|
Registered / Head Office : |
238
LGF, Sant Nagar, East of Kailash, New Delhi-110065, India |
|
Tel. No.: |
91-11-
4162 4387/ 2643 3880 |
|
Fax No.: |
91-11-
4162 4083 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory / Marketing / Corporate Office : |
Plot
No. 7, Site No. 2, 14/3 Main Mathura Road, Faridabad-121003, Haryana |
|
Tel. No.: |
91-129-4113606/10/
4286633 |
|
Fax No.: |
91-129-4049344 |
|
E-Mail : |
|
|
|
|
|
Regional Office: |
Kolkata V-23/22, Vivekananda Park, PO Garia, Kolkata-700084, West Bengal,
India Tel No.: 91-33-24104626 H. No. 1-6-311 and 320, Sai Ranga Apartments, Flat No. 104, 1st
Floor, Kandozi Bazaar, Park Lane, Secunderabad-500003, Andhra Pradesh, India Tel No.: 91-40-55449914 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Shailesh Kumar Mittal |
|
Designation : |
Director |
|
Address : |
245, Kailash Hills, East of Kailash, New Delhi-110065, India |
|
Date of Birth/Age : |
17.02.1956 |
|
Date of Appointment : |
04.03.2004 |
|
Din No.: |
00432708 |
|
|
|
|
Name : |
Mr. Prateek Kumar Mittal |
|
Designation : |
Director |
|
Address : |
245, Kailash Hills, East of Kailash, New Delhi-110065, India |
|
Date of Birth/Age : |
15.02.1981 |
|
Date of Appointment : |
02.04.2007 |
|
Din No.: |
00639787 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mahabir Prashad Mittal |
|
1000 |
|
Shailesh Kumar Mittal |
|
250999 |
|
Monika Rai Mittal |
|
20000 |
|
Rani Pravesh |
|
9000 |
|
Manan Mittal |
|
22970 |
|
Prateek Mittal |
|
20000 |
|
Mohak Rai and Pravesh Rani |
|
10 |
|
Shewta Rai and Sureeti Rai |
|
10 |
|
Suresh Rai |
|
1000 |
|
Embee Diagnositcs Private Limited, India |
|
500000 |
|
Nikhil Nanda |
|
675000 |
|
Ramesh K Suri |
|
10 |
|
Bimla Devi |
|
1 |
|
|
|
|
|
TOTAL
|
|
1500000 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
22.00 |
|
Other
top fifty shareholders |
|
78.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Trader of Medical Equipments. |
|
|
|
|
Exports : |
|
|
Products : |
Medical
Equipments |
|
Countries : |
·
Kenya ·
Nigeria |
|
|
|
|
Imports : |
|
|
Products : |
Medical
Equipments |
|
Countries : |
·
Germany ·
Thailand ·
China ·
Korea |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
v Punjab National Bank LCB, A-9, Connaught
Place, New Delhi-110001, India v
Vijaya
Bank, 31-C, DDA, Shopping Complex, Defence Colony, New Delhi-110024, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Cash Credit Rs.20.000 Millions [From Vijaya Bank] Letter of Credit Rs.5.000 Millions [From Vijaya Bank] |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Divesh Kumar Gupta Chartered Accountants |
|
Address : |
4303/3, Ansari Road, Darya Ganj, New Delhi-110002, India |
|
PAN No: |
AESPG6424J |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1900000 |
Equity Shares |
Rs.10/- each |
Rs.19.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each
|
Rs.15.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(16.551) |
(21.406) |
(25.798) |
|
|
NETWORTH |
(1.551) |
(6.406) |
(10.798) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
31.124 |
|
|
2] Unsecured Loans |
63.546 |
83.131 |
100.397 |
|
|
TOTAL BORROWING |
63.546 |
83.131 |
131.521 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
61.995 |
76.725 |
120.723 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.230 |
13.471 |
15.645 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.265 |
0.290 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.452 |
1.406 |
1.247 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
32.465
|
26.845 |
33.434 |
|
|
Sundry Debtors |
64.300
|
73.755 |
78.590 |
|
|
Cash & Bank Balances |
0.226
|
0.545 |
2.622 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.205
|
19.836 |
19.755 |
|
Total
Current Assets |
104.196
|
120.981 |
134.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
34.267
|
22.565 |
|
|
|
Other Current Liabilities |
22.881
|
36.858 |
30.570 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
57.148
|
59.423 |
30.570 |
|
|
Net Current Assets |
47.048
|
61.558 |
103.831 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
61.995 |
76.725 |
120.723 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
220.815 |
162.118 |
129.423 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
202.201 |
14.814 |
120.207 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
202.201 |
14.814 |
120.207 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.614 |
13.978 |
9.216 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.330 |
6.857 |
15.833 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.284 |
7.121 |
(6.617) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.476 |
2.889 |
3.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
4.808 |
4.232 |
(10.527) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.046) |
(0.160) |
(0.321) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
4.854 |
4.392 |
(10.206) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
3.23 |
2.93 |
(6.80) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.20
|
2.70 |
(7.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09
|
3.15 |
(7.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.10)
|
(0.66) |
0.97 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(40.97)
|
(12.97) |
(12.18) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
2.04 |
4.40 |
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 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24239DL2003PTC120213 |
|
Name of the
company |
MEDSOURCE OZONE
BIOMEDICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
238
LGF, Sant Nagar, East of Kailash, New Delhi-110065, India |
|
Type of charge |
Movable Property
[not being pledge] Others |
|
Particular of charge
holder |
Vijaya Bank, 31-C, DDA, Shopping Complex, Defence Colony, New
Delhi-110024, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement Sanction Letter Board Resolution Articles of
Agreement DOC – 5 |
|
Date of
instrument Creating the charge |
09.03.2012 |
|
Amount secured by
the charge |
Rs.0.549 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged @ 11.50% p a (floating) equivalent to bank's Base Rate + 0.85%
raising or falling therewith. Additional interest shall be charged @ 2% pa in
case of default. Terms of Repayment Repayable in 36
EMI of Rs. 0.018 Million and balance o/s if any in 36th EMI so as to close
the entire Liability on or before 09.3.2015 Margin 20% Extent and Operation of the charge 100% first charge
to secure LMV loan of Rs.0.549 Million |
|
Short particulars
of the property charged |
Hypothecation of
new Toyota Etios GC car bearing Engine No. 1ND 1240856 and VIN No.
MBJB4ZBT200018307~212 and registration number DL 1 TAG 7689 |
NOTE:
The registered office of the company has been shifted from to Escorts Corporate Centre – 15/5, Main Mathura Road, Faridabad-121003, Haryana, India the present address.
FIXED ASSETS:
· Plant and Machinery
· Air Conditioner
· Packing Machine
· Cold Storage and Generator
· Music System Projector
· Fax Machine
· Refrigerator
· Telephone 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 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.54.48 |
|
|
1 |
Rs82.71. |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
15 |
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.