MIRA INFORM REPORT

 

 

Report Date :

05.03.2013

 

IDENTIFICATION DETAILS

 

Name :

COSMOTEC MEDICAMENTS PRIVATE LIMITED

 

 

Registered Office :

#2, First Floor, HR-8, Balaji Complex, Sharma Market, Pul Pehladpur, New Delhi – 110 044 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

11.07.2001

 

 

Com. Reg. No.:

55-111620

 

 

Capital Investment / Paid-up Capital :

Rs.4.825 millions

 

 

CIN No.:

[Company Identification No.]

U51397DL2001PTC111620

 

 

IEC No.:

0501030212

 

 

PAN No.:

[Permanent Account No.]

AABCC5826G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Simulators, Traumaman, Titanium Plating System, Mondeal, Surgical Instruments, Reda.

 

 

No. of Employees :

Approximately 9 (In Office – 5, In Branch – 4)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 38000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a moderate track record. Profitability of the company appears to be low.

 

However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some caution.

 

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.

 

INFORMATION PARTED BY

 

Name :

Mr. Rajesh Kumar Goyal

Designation :

Director

Contact No.:

91-9873680018

Date :

04.03.2013

 

 

LOCATIONS

 

Registered Office/ Factory :

#2, First Floor, HR-8, Balaji Complex, Sharma Market, Pul Pehladpur, New Delhi – 110 044, India

Tel. No.:

91-11-65666450

Mobile No.:

91-9873680018 (Mr. Rajesh Kumar Goyal) 

Fax No.:

Not Available

E-Mail :

cosmotec@rediffmail.com

info@cosmotec.in

Website :

http://www.cosmotec.in

Area :

525 sq ft

Location :

Owned

 

 

Branch Office :

410, 4th Floor, DLF Centre Point, Sector-11, Faridabad, Haryana, India

Tel. No.:

91-129-2221580

Fax No.:

91-129-2243698

Area :

1000 sq ft

Location :

Owned

 

 

DIRECTORS

 

As on 27.09.2012

 

Name :

Mr. Rajesh Kumar Goyal

Designation :

Director

Address :

House No.FCA-135, Jain Colony, Ballabgarh – 121 004, Haryana, India

Date of Birth/Age :

14.01.1968

Qualification :

Graduate

Experience :

19 Years

Date of Appointment :

30.07.2001

DIN No.:

00360097

 

 

Name :

Mr. Jitender Kumar Goyal

Designation :

Director

Address :

House No.FCA-135, Jain Colony, Ballabgarh – 121 004, Haryana, India

Date of Birth/Age :

05.01.1973

Qualification :

Graduate

Experience :

12 Years

Date of Appointment :

00360141

DIN No.:

11.07.2001

 

 

Name :

Ms. Alka Goyal

Designation :

Director

Address :

House No.FCA-135, Jain Colony, Ballabgarh – 121 004, Haryana, India

Date of Birth/Age :

09.06.1969

Qualification :

High School

Experience :

12 Years

Date of Appointment :

11.07.2001

DIN No.:

00360171

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 27.09.2012

 

Names of Shareholders

 

No. of Shares

 

Rajesh Kumar Goyal

 

18500

Jitender Kumar Goyal

 

45000

Alka Goyal

 

33000

Tula Ram Goyal

 

57500

Mangal Kalas Services Private Limited, India

 

95000

Shiv Durga Marketing Private Limited, India 

 

50000

JSR Trading Private Limited, India

 

50000

Vishal Goyal

 

62500

Anju Goyal

 

40000

Tula Ram Goyal (HUF)

 

5500

Jitender Kumar Goyal (HUF)

 

5500

Rajesh Kumar Goyal (HUF)

 

20000

Total

 

482500

 

As on 14.02.2013

 

Names of Allottees

No. of Shares

Percentage of Holding

Rajesh Kumar Goyal

118500

17.71

Jitender Kumar Goyal

160000

23.92

Alka Goyal

33000

4.93

Mangal Kalas Services Private Limited, India

95000

14.20

Shiv Durga Marketing Private Limited, India 

50000

7.47

JSR Trading Private Limited, India

50000

7.47

Vishal Goyal

72500

10.83

Anju Goyal

59000

8.82

Tula Ram Goyal (HUF)

5500

0.83

Jitender Kumar Goyal (HUF)

5500

0.83

Rajesh Kumar Goyal (HUF)

20000

2.99

Total

669000

100.00

 

As on 27.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Simulators, Traumaman, Titanium Plating System, Mondeal, Surgical Instruments, Reda.

 

 

Products :

·         Oral and Maxillofacial Implants

·         Neuro Implants

·         Bone Mill

·         IMF

·         LOMAS

·         Surgical Instruments

·         Micro Vascular Clamp

·         Adjustable Skin Graft Mesher

·         Medical and Surgical Simulators

 

 

Agencies Held :

·         Simulab Corporation, USA

·         Mondeal Medical System, GmbH

·         Reda Instrumente, GmbH

·         Daesung Maref, Korea

 

 

Imports :

 

Products :

·         Simulators

·         Titanium Plating

·         Surgical Instruments

·         DVT Pumps

Countries :

·         USA

·         Germany

·         Germany

·         Korea

 

 

Terms :

 

Selling :

Cash and Credit (30/ 60 days)

 

 

Purchasing :

Cash and Credit (30/ 60 days)

 

 

GENERAL INFORMATION

 

Customers :

End Users, Hospitals and Doctors

 

 

No. of Employees :

Approximately 9 (In Office – 5, In Branch – 4)

 

 

Bankers :

ICICI Bank Limited, Booth No.104-105, District Centre, Sector-16, Faridabad – 121 007, Haryana, India

 

 

 

Banking Relations :

--

 

 

Financial Institution :

3i Infotech Trusteeship Services Limited, 6th Floor, Akruti Center Point, MIDC Central Road, Next to Marol Telephone Exchange, Andheri (East), Mumbai – 400 093, Maharashtra, India

 

 

Auditors :

 

Name :

Gaurav Suresh and Associates

Chartered Accountants

Address :

G-56B, Basement Kalkaji, (Near Govind Puri Metro Station), New Delhi – 110 019, India

Tel. No.:

91-11-40801125

Mobile No.:

91-9650899644

E-Mail :

gauravsuresh@hotmail.com

Income-tax PAN of auditor or auditor's firm :

AAKFG1400G

 

 

CAPITAL STRUCTURE

 

As on 27.09.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

900000

Equity Shares

Rs.10/- each

Rs.9.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

482500

Equity Shares

Rs.10/- each

Rs.4.825 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

4.825

2.875

2.875

2] Share Application Money

3.262

3.262

0.762

3] Reserves & Surplus

1.442

1.181

0.860

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

9.529

7.318

4.497

LOAN FUNDS

 

 

 

1] Secured Loans

0.868

0.705

0.540

2] Unsecured Loans

1.200

0.000

0.000

TOTAL BORROWING

2.068

0.705

0.540

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

11.597

8.023

5.037

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

4.974

5.027

4.816

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

3.813

4.065

3.627

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5.486

1.170

0.979

 

Sundry Debtors
5.773

3.742

2.702

 

Cash & Bank Balances
0.976

1.591

0.250

 

Other Current Assets
0.399

0.000

0.389

 

Loans & Advances
0.177

0.501

0.081

Total Current Assets
12.811

7.004

4.401

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
9.089

6.953

7.001

 

Other Current Liabilities
0.008

0.000

 

 

Provisions
0.904

1.120

0.806

Total Current Liabilities
10.001

8.073

7.807

Net Current Assets
2.810

(1.069)

(3.406)

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

11.597

8.023

5.037

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

 

19.241

17.300

 

 

Other Income

 

0.630

1.979

 

 

TOTAL                                     (A)

 

19.871

19.279

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods

 

11.332

10.191

 

 

Administrative Expenses

 

5.394

4.870

 

 

Other Expenses

 

1.541

2.706

 

 

TOTAL                                     (B)

 

18.267

17.767

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

 

1.604

1.512

 

 

 

 

 

Less

INTEREST                                                        (D)

 

0.334

0.312

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

1.270

1.200

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

0.657

0.652

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

0.613

0.548

 

 

 

 

 

Less

TAX                                                                  (H)

 

0.189

0.170

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

0.424

0.378

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

0.88

1.31

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
2.13

1.96

NA

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
3.19

3.17

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
3.45

4.55

NA

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.06

0.07

NA

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
0.22

0.10

0.12

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.28

0.87

0.56

 

 

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

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 two years

Yes

12) Profitability for last two 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) 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

 

 


TRADE REFERENCES:

 

·         All India Institute of Medical Science, New Delhi        

·         D Y Patil, Mumbai

·         DDU Hospital, New Delhi     

·         Safdarjang Hospital, New Delhi

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.55.05

UK Pound

1

Rs.82.75

Euro

1

Rs.71.61 

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

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

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.