MIRA
INFORM REPORT
|
Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
DR BATRAS’ POSITIVE HEALTH CLINIC PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, H Kantilal Compound, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
25.01.1999 |
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Com. Reg. No.: |
11-118005 |
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Capital Investment
/ Paid-up Capital : |
Rs.87.500
Millions |
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CIN No.: [Company Identification
No.] |
U85110MH1999PTC118005 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB13223A |
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PAN No.: [Permanent Account No.] |
AABCD3857G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
engaged in the business of Providing Medical Consultancy Services. |
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No. of Employees
: |
Information declined by the management. |
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 632000 |
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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 a part of “Dr. Batra’s Group.” It is a well established company having satisfactory track record. The
latest financials as on 2011-2012 are not available. As per available of
2010-2011, there appears significant increase in the sales turnover as well
as the net profitability of the company. The profit margin also seems to be
good. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced promoters and directors, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Withdrawn |
|
Rating Explanation |
Care has withdrawn the rating assigned to the subject with immediate
effect at the request of the company and on account of the outstanding
amounts against the bank facilities availed by the company. |
|
Date |
19.03.2013 |
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 DECLINED
|
Name : |
Dr. Afta |
|
Contact No.: |
91-22-39554800 |
|
Date : |
24.06.2013 |
LOCATIONS
|
Registered Office : |
2nd Floor, H Kantilal Compound, Andheri Kurla Road, Saki
Naka3, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-39554800 |
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Fax No.: |
91-22-66764159 |
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E-Mail : |
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Website : |
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Branch Office : |
Located At: ·
Ahmadabad ·
Bangalore ·
Gansigarh ·
Chennai ·
Gurgaon ·
Hyderabad ·
Jaipur ·
Kolkata ·
Lucknow ·
Ludhiana ·
Mumbai ·
New Delhi ·
Pune ·
Vadodara ·
Vishakhapatnam ·
London |
DIRECTORS
AS ON 09.08.2012
|
Name : |
Mr. Mukesh Munish Batra |
|
Designation : |
Director |
|
Address : |
33, Maker Towers ‘H’, Cuffe Parade, Mumbai, 400005, Maharashtra, India
|
|
Date of Appointment : |
25.01.1999 |
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Din No.: |
00302739 |
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|
Name : |
Mr. Akshay Mukesh Batra |
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Designation : |
Director |
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Address : |
5th Floor, R – 1, Atur Terraces,, 8 and 9, Cuffe, Parade,
Colaba,, Mumbai, 400005, |
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Date of Appointment : |
25.01.1999 |
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Din No.: |
00302825 |
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Name : |
Mrs. Bindu Manoj Sharma |
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Designation : |
Director |
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Address : |
A-302, Royal Classic, Next to City Mall, New Link Road, Andheri East,
Mumbai, 400058, Maharashtra, India |
|
Date of Appointment : |
31.01.2009 |
|
Din No.: |
00334750 |
KEY EXECUTIVES
|
Name : |
Mr. Shirish Sule |
|
Designation : |
Secretary |
|
Address : |
1/B, Eknath Darshan, Eknath Mhatre Nagar, Kerosene Depot Lane,
Dombivli (East), Thane, 421201, Maharashtra, India |
|
Date of Appointment : |
21.02.2011 |
|
Pan No.: |
CCHPS3595M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Munish Batra |
|
8674750 |
|
Akshay Mukesh Batra |
|
50000 |
|
Pranav Mukesh Batra |
|
25000 |
|
Mukesh Munish Batra (HUF) |
|
250 |
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|
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TOTAL
|
|
8750000 |
AS ON 09.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of Providing Medical Consultancy Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
Axis Bank
Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri
(West), Mumbai-400053, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A.Bafna and Company Chartered Accountants |
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Address : |
209, Standard House, 83, |
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Tel. No.: |
91-22-25631390 |
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Fax No.: |
91-22-25631390 |
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PAN No: |
AAGFA3909A |
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Associates/Subsidiaries : |
·
Dr Batra's B Perfect Private Limited ·
Dr Batra’s Homeopathic Clinic FZ-LLC ·
Dr Batra's Positive Health Clinic (UK) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12495000 |
Equity Shares |
Rs.10/- each |
Rs.124.950 Millions |
|
5000 |
Preferences Shares |
Rs.10/- each |
Rs.0.050 Million |
|
|
TOTAL
|
|
Rs.125.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8750000 |
Equity Shares |
Rs.10/- each
|
Rs.87.500
Millions |
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 |
87.500 |
87.500 |
60.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
70.617 |
31.185 |
15.162 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
158.117 |
118.685 |
75.162 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.017 |
127.743 |
161.557 |
|
|
2] Unsecured Loans |
28.608 |
18.261 |
17.962 |
|
|
TOTAL BORROWING |
112.625 |
146.004 |
179.519 |
|
|
DEFERRED TAX LIABILITIES |
38.513 |
35.675 |
31.688 |
|
|
OTHER LIABILITIES |
157.781 |
113.502 |
86.551 |
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|
|
|
|
|
|
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TOTAL |
467.036 |
413.866 |
372.920 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
381.609 |
383.998 |
399.728 |
|
|
Capital work-in-progress |
1.037 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.219 |
10.914 |
10.117 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
1.518 |
|
|
Sundry Debtors |
29.119
|
17.031 |
12.413 |
|
|
Cash & Bank Balances |
47.480
|
1.497 |
6.130 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
91.671
|
85.781 |
54.362 |
|
Total
Current Assets |
168.270
|
104.309 |
74.423 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.238
|
46.650 |
34.740 |
|
|
Other Current Liabilities |
31.511
|
20.752 |
49.787 |
|
|
Provisions |
22.350
|
17.953 |
26.821 |
|
Total
Current Liabilities |
102.099
|
85.355 |
111.348 |
|
|
Net Current Assets |
66.171
|
18.954 |
(36.925) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
467.036 |
413.866 |
372.920 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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|
SALES |
|
|
|
|
|
|
|
Income |
750.157 |
643.335 |
807.875 |
|
|
|
Other Income |
2.143 |
9.365 |
NA |
|
|
|
TOTAL (A) |
752.300 |
652.700 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
126.700 |
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.700 |
21.500 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
113.000 |
86.500 |
|
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.100 |
35.900 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
83.900 |
50.600 |
60.989 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.100 |
19.500 |
29.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
55.800 |
31.100 |
31.089 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
22.700 |
8.800 |
0.718 |
|
|
|
|
|
|
|
|
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|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.200 |
2.200 |
3.110 |
|
|
|
Proposed Dividend |
14.000 |
11.100 |
16.973 |
|
|
|
Tax on Dividend |
2.300 |
1.900 |
2.884 |
|
|
BALANCE CARRIED
TO THE B/S |
58.000 |
22.700 |
8.840 |
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Medical Consultancy |
1.329 |
1.249 |
0.855 |
|
|
|
Royalty Income |
1.117 |
2.032 |
0.880 |
|
|
TOTAL EARNINGS |
2.446 |
3.281 |
1.735 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.37 |
3.55 |
5.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.42
|
4.76 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.18
|
7.87 |
7.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.25
|
10.36 |
12.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.43 |
0.81 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.71
|
1.23 |
2.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65
|
1.22 |
0.67 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
31.03.2009 [Rs. in millions] |
|
Sundry Creditors |
|
|
|
|
Creditors due
small micro enterprises |
0.059 |
0.000 |
34.740 |
|
Creditors due
others |
48.179 |
46.650 |
0.000 |
|
TOTAL |
48.238 |
46.650 |
34.740 |
|
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 |
Yes |
|
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 (if applicable) |
No |
|
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 |
No |
|
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 |
Yes |
BUSINESS OVERVIEW:
Turnover for the
year ended 31st March, 2011 increased to Rs.750.157 Millions as compared to Rs.643.335
Millions in the corresponding 12 months period of 2009-10, registering a growth
of about 16.60%
The Earnings
before Interest, Depreciation and Tax (EBITA) rose by 17.30 % to Rs.126.763
Millions compared to 108.064 Millions in the previous year. The Profit before
tax also grew by 65.80%to Rs.83.914 Millions in the financial year 2010-11.
PROSPECTS AND EXPANSION PLANS:
As on 31st March,
2011 the Company was operating Sixty Six (66) clinics. During the year the
Company started new Fourteen (14) clinics. It is also the first homeopathic
chain of clinics in the world to receive ISO 9001:2008 certification as per AQA
International LLC, USA. The Company is committed to open around 25 -30 new
clinics in the next financial year.
SUBSIDIARY COMPANIES:
DR BATRA'S B PERFECT PRIVATE LIMITED
The Company was
incorporated on 26th Jun, 2008 as Joint Venture with Nuhart Hair Solutions
Inc., to treat and care for hair loss and other trichology ailments. During the
year under review, the company has purchased the entire share of Nuhart Hair
Solutions Inc. making it 100 % Subsidiary .The Company has been renamed as Dr
Batras B Perfect Private Limited.
DR BATRAS HOMEOPATHIC CLINIC FZ-LLC
Dr. Batra's
Homeopathic Clinic FZ-LLC is a 100% subsidiary of the Company. During the
financial year 2010-11, the performance has been good, the turnover of the
company has increased 64.82% to 915,506 AED as compared to previous year.
DR BATRA'S POSITIVE HEALTH CLINIC (UK) LIMITED
Dr Batras Positive
Health Clinic (UK) Limited is a 100% subsidiary of the Company The Company has
commenced its operations in 3rd March, 2010.
FIXED ASSETS:
·
Building
·
Building – Leasehold
·
Furniture and Fixtures
·
Computer Software
·
Plant and Machinery
·
Vehicle
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.59.73 |
|
|
1 |
Rs.91.82 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.