MIRA
INFORM REPORT
|
Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED LIFESCIENCES PRIVATE LIMITED |
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Registered
Office : |
D-22, Okhla Industrial Area, Phase - I, New Delhi – 110 020 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
29.08.2006 |
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Com. Reg. No.: |
55-152691 |
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Capital
Investment/ Paid-up Capital: |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U85121DL2006PTC152691 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA21292F |
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PAN No.: [Permanent Account No.] |
AAGCA1461L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and trading in life saving
medicines, pharmaceuticals and surgical disposables and instruments as well as
trading in import of olive oil. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 49000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Borrowings of the company are significantly higher than its networth. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very
High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 Office/ Factory : |
D-22, Okhla Industrial Area, Phase - I, New Delhi – 110 020, India |
|
Tel. No.: |
91-11-26812108/ 26371127/ 26812107 |
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Mobile No.: |
91-9818237529 (Mr. Rakesh Aggarwal) |
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Fax No.: |
91-11-26371128 |
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E-Mail : |
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Website : |
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Corporate Office : |
M-72A, Greater Kailash, Part 2 Market, New Delhi – 110 048, India |
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Branch Office : |
Located at: ·
Chennai ·
Mumbai ·
Lucknow ·
Kolkata ·
Pune ·
Ludhiana ·
Dehradun ·
Mohali |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kamal Aggarwal |
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Designation : |
Director |
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Address : |
W-39, Greater Kailash - II, New Delhi – 110 048, India |
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Date of Birth/Age : |
15.05.1963 |
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Date of Appointment : |
29.08.2006 |
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DIN No.: |
00051739 |
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Other Directorships :
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Name : |
Mr. Rakesh Aggarwal |
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Designation : |
Director |
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Address : |
W-39, Greater Kailash - II, New Delhi – 110 048, India |
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Date of Birth/Age : |
24.04.1965 |
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Date of Appointment : |
29.08.2006 |
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DIN No.: |
00051812 |
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Other Directorships :
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Name : |
Mr. Naresh Kumar Aggarwal |
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Designation : |
Director |
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Address : |
W-39, Greater Kailash - II, New Delhi – 110 048, India |
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Date of Birth/Age : |
15.12.1942 |
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Date of Appointment : |
29.08.2006 |
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DIN No.: |
01066376 |
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Other Directorships :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Naresh Kumar Aggarwal |
|
24000 |
|
Rakesh Aggarwal |
|
33000 |
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Kamal Aggarwal |
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33000 |
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Archana Aggarwal |
|
2000 |
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Poonam Aggarwal |
|
2000 |
|
Maya Devi Aggarwal |
|
6000 |
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Total |
|
100000 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and trading in life saving medicines,
pharmaceuticals and surgical disposables and instruments as well as trading
in import of olive oil. |
GENERAL INFORMATION
|
Suppliers : |
·
Merit Medical Systems Inc. ·
Jai Shree Trading Company ·
Harsoria Healthcare Private Limited ·
D. Dominic Patrick ·
Prince Center Maintenance Agency ·
PSG and Company ·
Thomas Raj J. ·
Numed Inc. ·
Qualimed Innovative Medizinprodukte GmbH |
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No. of Employees : |
Not Available |
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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 : |
Rajeev Mago and Associates Chartered Accountants |
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Address : |
G-82, Ground Floor, Lajpat Nagar-II, New Delhi – 110 024, India |
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Tel. No.: |
91-11-65633119 |
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Mobile No.: |
91-9810288813 |
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Fax No.: |
91-11-29810507 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AADPM6570E |
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Entities over
such the Key Management Personnel are able to exercise significant influence
: |
·
Surgimed |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
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(1) Shareholders' Funds |
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(a) Share Capital |
|
1.000 |
1.000 |
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(b) Reserves & Surplus |
|
11.337 |
6.813 |
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(c) Money received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
12.337 |
7.813 |
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
|
46.340 |
41.390 |
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(b) Deferred tax liabilities (Net) |
|
0.305 |
0.297 |
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(c) Other long
term liabilities |
|
0.000 |
0.000 |
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(d) Long-term
provisions |
|
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
|
46.645 |
41.687 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
|
0.000 |
0.000 |
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(b)
Trade payables |
|
17.753 |
3.669 |
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(c)
Other current liabilities |
|
1.751 |
7.912 |
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(d) Short-term
provisions |
|
2.720 |
2.234 |
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Total Current
Liabilities (4) |
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22.224 |
13.815 |
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TOTAL |
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81.206 |
63.315 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
|
14.552 |
14.380 |
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(ii)
Intangible Assets |
|
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
|
0.546 |
0.219 |
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(e) Other
Non-current assets |
|
0.000 |
0.000 |
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Total Non-Current
Assets |
|
15.098 |
14.599 |
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(2) Current assets |
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(a)
Current investments |
|
0.000 |
0.000 |
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(b)
Inventories |
|
36.473 |
22.481 |
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(c)
Trade receivables |
|
19.529 |
18.965 |
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(d) Cash
and cash equivalents |
|
6.156 |
4.781 |
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(e)
Short-term loans and advances |
|
3.950 |
2.471 |
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(f)
Other current assets |
|
0.000 |
0.018 |
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Total
Current Assets |
|
66.108 |
48.716 |
|
|
|
|
|
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TOTAL |
|
81.206 |
63.315 |
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SOURCES OF FUNDS |
|
|
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.000 |
|
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2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.214 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
|
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NETWORTH |
|
|
3.214 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
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2] Unsecured Loans |
|
|
26.890 |
|
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TOTAL BORROWING |
|
|
26.890 |
|
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
30.104 |
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
|
|
11.022 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
11.991
|
|
|
Sundry Debtors |
|
|
9.701
|
|
|
Cash & Bank Balances |
|
|
0.976
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
2.330
|
|
Total
Current Assets |
|
|
24.998 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.040
|
|
|
Other Current Liabilities |
|
|
0.887
|
|
|
Provisions |
|
|
1.028
|
|
Total
Current Liabilities |
|
|
5.955 |
|
|
Net Current Assets |
|
|
19.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.039 |
|
|
|
|
|
|
|
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TOTAL |
|
|
30.104 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
95.690 |
64.786 |
45.738 |
|
|
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Other Income |
|
|
|
|
|
|
TOTAL |
95.690 |
64.786 |
45.738 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
58.009 |
42.569 |
|
|
|
Administrative Expenses |
|
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|
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Advertising Expenses |
|
|
|
|
|
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TOTAL |
89.071 |
58.009 |
42.569 |
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
6.619 |
6.777 |
3.169 |
|
|
|
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|
|
|
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|
Less |
TAX |
2.095 |
2.178 |
1.044 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX |
4.524 |
4.599 |
2.125 |
|
|
|
|
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Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6.813 |
2.214 |
0.089 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.337 |
6.813 |
2.214 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission |
0.529 |
0.636 |
NA |
|
|
|
Exports |
5.259 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
5.788 |
0.636 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
45.24 |
46.00 |
21.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.73 |
7.10
|
4.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.15 |
10.70
|
8.80
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54 |
0.87
|
0.99
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.76 |
5.30
|
8.37
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.97 |
3.53
|
4.20
|
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 |
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 |
Yes |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Unsecured
Interest free |
|
|
|
Loans and advances from related parties: |
|
|
|
Kamal Aggarwal |
25.240 |
20.790 |
|
Rakesh Aggarwal |
15.400 |
14.900 |
|
Naresh Aggarwal |
4.900 |
4.900 |
|
Archana Aggarwal |
0.700 |
0.700 |
|
Maya Aggarwal |
0.100 |
0.100 |
|
Total |
46.340 |
41.390 |
Note:
The registered office address has been shifted
from M-72A,
Greater Kailash, Part 2, Market, New Delhi – 110 048, India to the present
address w.e.f. 06.03.2007.
FINANCIAL RESULTS:
For the year ended 31st March,
2012, the company has earned a profit of Rs.4.524 millions as compared to
profit of Rs.4.599 millions in the previous year. During the year, the company
has traded in pharmaceutical products, olive oil and was also a referral centre
for stem cell treatment overseas for the year. However, the centre has since
closed. Response in the first year of the Company manufacturing/ packing the
surgical consumables in its own brand name has been encouraging and has
reflected in the improved turnover in the year despite there being an economic
slow down.
FIXED ASSETS:
·
Plant and
Machinery (Clean Room)
·
Electrical Installation
and Fittings (Clean Room)
·
Lab
Instruments
·
ETO
Sterilizer (Clean Room)
·
SS Tables
(Clean Room)
·
Air
Conditioning Equipment
·
Generator
·
Packing
Machine
·
Labeling
Machine
·
Furniture
Fixtures and Fittings
·
Vehicles
·
Office
Equipment
·
Computer
·
Scanner HP
2410
·
Vacuum
Cleaner
·
Mobile Phone
·
Water
Purifier
·
Bicycle
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.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.