1. Summary Information
|
Country |
India |
||
|
Company Name |
CENTENIAL
SURGICAL SUTURE LIMITED |
Principal Name 1 |
Mr. Vijay Kalidas Majrekar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Bhushan Suhas Limaye |
|
Registration # |
11-089759 |
||
|
Street Address |
Plot No.F-29, MIDC, Murbad, Thane – 421401, Maharashtra, India |
||
|
Established Date |
20.06.1995 |
SIC Code |
-- |
|
Telephone# |
91-22-24115677 91-2524-222905/ 222906 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-24164424 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Surgical Sutures |
|
|
# of employees |
Not Available |
Product Name 2 |
Medical Devices |
|
Paid up capital |
Rs.54,243,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 0.44% Bodies corporate - 0.40% Directors or relatives of Directors - 40.26% Other top fifty shareholders - 42.32% Others - 16.58% |
Banking |
Canara Bank |
|
Public Limited Corp. |
YES |
Business Period |
18 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
275,968,000 |
Current Liabilities |
147,554,000 |
|
Inventories |
152,323,000 |
Long-term Liabilities |
126,531,000 |
|
Fixed Assets |
47,168,000 |
Other Liabilities |
28,634,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
302,719,000 |
|
Invest& other Assets |
1,933,000 |
Retained Earnings |
120,430,000 |
|
|
|
Net Worth |
174,673,000 |
|
Total Assets |
477,392,000 |
Total Liab. & Equity |
477,392,000 |
|
Total Assets (Previous Year) |
429,378,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
540,874,000 |
Net Profit |
15,737,000 |
|
Sales(Previous yr) |
524,798,000 |
Net Profit(Prev.yr) |
15,089,000 |
|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTENIAL SURGICAL SUTURE LIMITED (w.e.f. 16.02.1996) |
|
|
|
|
Formerly Known
As : |
CENTINEIAL SURGICAL SUTURE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.F-29, MIDC, Murbad, Thane – 421401, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089759 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.54.243
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1995PTC089759 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC06848C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of surgical sutures and medical devices. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 690000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
The company has seen a slight increase in the sales turnover during 2013. Trade relations are fair. Business is active. Payment terms are
reported as usually 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
27.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
27.02.2013 |
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.
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No.F-29, MIDC, Murbad, Thane – 421401, Maharashtra, India. |
|
Tel. No.: |
91-22-24115677 91-2524-222905/ 222906 |
|
Fax No.: |
91-22-24164424 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Village Dhavale, Ulhasnagar,
Thane, Maharashtra, India |
|
|
|
|
Factory 3 : |
B-17, MIDC,
Murbad, Thane – 42401, Maharashtra, India |
DIRECTORS
As on: 18.09.2012
|
Name : |
Mr. Vijay Kalidas Majrekar |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Chairman and Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.511-B, 601-602, Omkar CHS, R. P. Masani Road, Matunga, Mumbai
– 400014, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.01.1961 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2008 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00804808 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bhushan Suhas Limaye |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Non Executive Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
C-33, Omkar CHS, Balgovindas Road, Mahim, Mumbai – 400016,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.12.1960 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.03.2002 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00804930 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Devraj Thaniya Poojary |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Executive Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
D/703, Prafulla Paradise, Khadakpada, Kalyan, Thane – 421306,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.07.1968 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2011 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02041726 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sunil Chimanlal Modi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Non Executive Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
8, Bharat Villa, Church Road, Violle Parle (West), Mumbai – 400056,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.01.1964 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.09.2010 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03103966 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. J. B. Shetty |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Non Executive Director |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.05.2013 |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Sapna Mhatre |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
J. Rathod |
|
Designation : |
Chief Operating Officer |
|
|
|
|
COMMITTEES OF BOARD |
|
|
|
|
|
Audit Committee
(w.e.f. 24.04.2013) |
|
|
|
|
|
Name : |
Mr. S. C. Modi |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vijay Majrekar |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. B. S. Limaye |
|
Designation : |
Member |
|
|
|
|
REMUNERATION
COMMITTEE (w.e.f. 09.05.2013) |
|
|
|
|
|
Name : |
Mr. B. S. Limaye |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vijay Majrekar |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. S. C. Modi |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. J.B. Shetty |
|
Designation : |
Member |
|
|
|
|
SHARE TRANSFERS AND
SHAREHOLDERS/ INVESTORS GRIEVANCE COMMITTEE (w.e.f. 24.04.2013) |
|
|
|
|
|
Name : |
Mr. B. S. Limaye |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vijay Majrekar |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. S. C. Modi |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. H. Iyappan |
|
Designation : |
Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 18.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 18.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.44 |
|
Bodies corporate |
0.40 |
|
Directors or relatives of Directors |
40.26 |
|
Other top fifty shareholders |
42.32 |
|
Others |
16.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of surgical sutures and medical devices. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Canara Bank, Dr. Visveswaraya Buildings,
Karnataka Sangh, T H K Marg, Matunga (West), Mumbai - 400016, Maharashtra,
India · HDFC Bank Limited · State Bank of India · Gopinath Patil Parsik Janata Sahakari Bank Limited |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipul N. Shah and
Associates Chartered
Accountants |
|
Address : |
6, Samir Complex, S. M. Road, Ambawadi, Ahmedabad – 3800015, Gujarat, India
|
|
PAN No.: |
ADBPS7241P |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7200200 |
Equity Shares |
Rs.10/- each |
Rs.72.002
Millions |
|
|
|
|
|
Paid up capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3648300 |
Equity Shares |
Rs.10/- each |
Rs.36.483 Millions |
|
3551900 |
Forfeited Shares |
Rs.10/- each |
Rs.17.760
Millions |
|
|
Total |
|
Rs.54.243 Millions |
Reconciliation of
number of equity shares outstanding
|
Particulars |
As on 31.03.2013 |
|
|
|
No. of Shares |
Rs. in Millions |
|
Shares outstanding at the beginning of the year |
3648300 |
36.483 |
|
Shares outstanding at the end of the year |
3648300 |
36.483 |
The Company has only one class of shares referred to as equity shares having face value of Rs.10/-. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of Equity
Shares held by each shareholder holding more than 5%
|
Particulars |
As on 31.03.2013 |
|
|
|
No. of Shares |
% of Holding |
|
Anuradha Kashikar |
694200 |
19.03 |
|
Vijay Majrekar |
576500 |
15.80 |
|
Geeta R. Kingar |
0 |
0.00 |
|
Shyam Ramchand Kingar |
567700 |
15.56 |
|
Devendra K. Kothari |
210200 |
5.76 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
54.243 |
54.243 |
|
(b) Reserves & Surplus |
|
120.430 |
104.694 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
174.673 |
158.937 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
23.006 |
25.006 |
|
(b) Deferred tax liabilities (Net) |
|
(0.027) |
0.000 |
|
(c) Other long term
liabilities |
|
16.324 |
11.624 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
39.303 |
36.630 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
103.525 |
79.107 |
|
(b) Trade
payables |
|
100.882 |
79.253 |
|
(c) Other
current liabilities |
|
30.348 |
46.784 |
|
(d) Short-term
provisions |
|
28.661 |
28.667 |
|
Total Current
Liabilities (4) |
|
263.416 |
233.811 |
|
|
|
|
|
|
TOTAL |
|
477.392 |
429.378 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
46.901 |
47.574 |
|
(ii)
Intangible Assets |
|
0.267 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.923 |
1.923 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.421 |
1.271 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
50.522 |
50.778 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
152.323 |
169.274 |
|
(c) Trade
receivables |
|
189.190 |
153.520 |
|
(d) Cash
and cash equivalents |
|
31.398 |
8.012 |
|
(e)
Short-term loans and advances |
|
53.915 |
47.765 |
|
(f) Other
current assets |
|
0.044 |
0.029 |
|
Total
Current Assets |
|
426.870 |
378.600 |
|
|
|
|
|
|
TOTAL |
|
477.392 |
429.378 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
36.483 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
107.365 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
143.848 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
74.979 |
|
|
2] Unsecured Loans |
|
|
36.630 |
|
|
TOTAL BORROWING |
|
|
111.609 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
255.470 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
44.767 |
|
|
Capital work-in-progress |
|
|
1.923 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.010 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
148.131
|
|
|
Sundry Debtors |
|
|
161.030
|
|
|
Cash & Bank Balances |
|
|
3.245
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
70.990
|
|
Total
Current Assets |
|
|
383.396
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
174.626
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
174.626
|
|
|
Net Current Assets |
|
|
208.770
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
255.470 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
540.874 |
524.798 |
|
|
|
Other Income |
|
0.195 |
0.190 |
|
|
|
TOTAL |
|
541.069 |
524.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
250.277 |
243.778 |
|
|
|
Purchase of Stock-in-Trade |
|
0.326 |
6.677 |
|
|
|
Changes in Inventories of Finished /
Work-in-Progress/Stock-in-Trade |
|
3.758 |
(3.270) |
|
|
|
Employee Benefits Expenses |
|
64.892 |
57.188 |
|
|
|
Other Expenses |
|
174.107 |
176.357 |
|
|
|
TOTAL |
|
493.360 |
480.730 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
47.709 |
44.258 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
16.036 |
13.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
31.673 |
31.052 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
5.758 |
5.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
25.915 |
25.176 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
10.178 |
10.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
15.737 |
15.089 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
104.694 |
89.605 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
120.430 |
104.694 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value Export |
|
11.492 |
9.315 |
|
|
TOTAL EARNINGS |
|
11.492 |
9.315 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
94.479 |
91.299 |
|
|
TOTAL IMPORTS |
|
94.479 |
91.299 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4.31 |
4.14 |
|
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
502.453 |
|
|
|
Other Income |
|
|
0.143 |
|
|
|
TOTAL |
|
|
502.596 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (decrease) in Finished Goods Stock |
|
|
0.562 |
|
|
|
Materials consumed |
|
|
225.438 |
|
|
|
Other Manufacturing and Operating Expenses |
|
|
29.439 |
|
|
|
Administrative, Selling and Other Overheads |
|
|
208.595 |
|
|
|
TOTAL |
|
|
464.034 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
38.562 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
6.469 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
32.093 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
11.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
20.785 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
68.820 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
89.605 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
77.365 |
|
|
TOTAL IMPORTS |
|
|
77.365 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
5.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.91
|
2.87
|
4.14
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.79
|
4.79
|
6.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.45
|
5.89
|
7.50
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.16
|
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.72
|
0.66
|
0.78
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
1.62
|
2.20
|
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 |
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 |
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 |
Yes |
UNSECURED LOAN
(Rs. in Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Other Loans and Advances |
23.006 |
25.006 |
|
Total |
23.006 |
25.006 |
FINANCIAL PERFORMANCE
The year witnessed a lot of challenges with growing competition and changes in surgeons/ customers preference. Further details of operations are given in the management discussion and analysis report, which forms part of this report. During the Financial Year 2013 - 2014, the Company will continue to focus on driving in its established key growth brands. The Company has always placed primacy on Quality for growth and believes it will continue to stand them in good stead.
CENTENIAL's leadership team has demonstrated its capability and strategic intent, and will continue to explore other growth opportunities in alignment with their vision. They are confident about the future and grateful for the goodwill and support of their Surgeons. They take this opportunity to thank all the Surgeons for their continuing support. I am also indebted to the Highly Educated Members of the CENTENIAL Board for their guidance and to the Honest, Loyal and Committed Employees.
Their demanding standards of governance have set us apart, even more, now, and in the future. Clearly, investors and employees will appreciate and learn to value differentiate between organisations like theirs that are ethical, honest, well-governed and transparent, and others, for whom governance is a platitude. This is a huge strength, built over time into their genetic coding. It will always stand us in good stead. They are focusing on building strong administrative and support functions and have concurrently invested in systems for financial accounting, accurate billing, objective legal system, strong human resources and excellent Quality. They have a brand name which stands for Quality, Reliability, Commitment and Integrity.
OPERATIONS
The Company registered sales of Rs.540.874 Millions in the financial year ended March 31, 2013, clocking a growth of 3.06% over the corresponding 12 months period ended March 31, 2012. The results for the year show net profit after tax of Rs.15.737 Millions as compared to the net profit after tax of Rs.15.089 Millions. The earnings per share increased from Rs.4.14 in 2011 ~ 2012 to Rs.4.31 in the year.
More than 95% of the current workforce has grown with us, with some clocking more than ten years. They realise the value of Education, Loyalty, Honesty, Success, Commitment, Sincerity, Hard Work required to sustain this success. They have been an important part of the journey of creating value leadership. They think their holy spirit and their resolve are something, which cannot be replicated. This indeed is a defining value.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
BASIS OF PREPARATION
OF FINANCIAL STATEMENTS
The financial statements have been prepared in compliance with the requirements of the Companies Act, 1956, and Indian Generally Accepted Accounting Principles (Indian GAAP). In the adoption of the accounting standards there are no material departures from the prescribed Indian accounting standards. The Company's management believes that it has been objective & prudent in making estimates and judgements relating to the financial statements & believes that these financial statements are a fair representation of the Company's operations and profits for the year.
Overview
The Company registered sales of Rs. 540.874 Millions in the financial year ended March 31, 2013, clocking a growth of 3.06% over the corresponding 12 months period ended March 31, 2012. The results for the year show net profit after tax of Rs. 15.737 Millions as compared to the net profit after tax of Rs. 15.089 Millions. The earnings per share increased from Rs. 4.14 in 2011 - 2012 to Rs. 4.31 in the year. Many established surgeons have tried their products and started using them continuously and the trends are encouraging. The technical functioning of their plant as indicated by the above-mentioned results, the capacity utilization’s was quite satisfactory and production levels were selectively improved as required. In summary the sharp focus on demand generation for key products, procurement & manufacturing efficiencies, tight control on expenses have been enhanced for the current financial year.
Outlook
During the current financial year there has been an slight improvement in the market conditions resulting in an increase in dispatches and satisfactory sales price realisations. It is expected that this trend will continue. Further slow growth rate of the Indian economy has been projected and the Company expects its growth to be slow.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80003748 |
05/10/2010 * |
130,000,000.00 |
Canara Bank |
Dr. Visveswaraya Buildings, Karnataka Sangh,, T H |
A97300339 |
* Date of charge modification
FIXED
ASSETS
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.63.67 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared by
: |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.