MIRA INFORM REPORT
|
Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
FORTIS HEALTHCARE LIMITED (w.e.f. 06.03.2012) |
|
|
|
|
Formerly Known
As : |
FORTIS HEALTHCARE (INDIA) LIMITED (w.e.f. 07.03.2011) FORTIS HEALTHCARE LIMITED |
|
|
|
|
Registered
Office : |
Escorts Heart Institute and Research Centre, Okhla Road, New Delhi –
110025 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.02.1996 |
|
|
|
|
Com. Reg. No.: |
55-076704 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4095.337 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L85110DL1996PLC076704 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF0987E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
It’s a Hospital |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 120000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having good track
record. There is a dip in profit of the company in the year 2013. However, fundamentals
of the company is decent. Financial position of the company is strong and
healthy. Rating also takes into consideration experience and resourceful
promoters support to the company and established brand name in the healthcare
sector. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
22.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
22.01.2014 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Gosha |
|
Designation : |
Pharmacy Incharge |
|
Contact No.: |
91-172-4692222 |
|
Date : |
16.04.2014 |
LOCATIONS
|
Registered Office : |
Escorts Heart Institute and Research Centre, Okhla Road, New Delhi –
110025, India |
|
Tel. No.: |
91-11-47135000, 26825000 Emergency: 91-11-26825002 / 26825003 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Tower A, Unitech Business Park, Block - F, South City 1, Sector - 41, Gurgaon - 122001, Haryana, India |
|
Tel. No.: |
91-124-4921021 / 4921184 / 4921071 / 4921033 / 4926168 |
|
Fax No.: |
91-124-4921041 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
Sector 62, Phase - VIII, Mohali - 160062, Punjab, India |
|
Tel. No.: |
91-172-4692222 / 5021222 Emergency: 91-172-4692200 Appointments: 91-712-4692250 |
|
Location : |
Owned |
|
|
|
|
Branch Office 2 : |
Also Located At
|
DIRECTORS
As on 27.09.2013
|
Name : |
Joji Sekhon Gill |
|
Designation : |
Director |
|
Address : |
605A, Court Greens Laburnum, Sushant Lok – 1, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
05.06.1965 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05310881 |
|
|
|
|
Name : |
Mr. Pradeep Ratilal Raniga |
|
Designation : |
Director |
|
Address : |
32, Kyora Parade Balwyn North Victoria 003104 |
|
Date of Birth/Age : |
06.06.1957 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03291083 |
|
|
|
|
Name : |
Mr. Harpal Singh |
|
Designation : |
Director |
|
Address : |
B-10, Anand Niketan, New Delhi – 110021, India |
|
Date of Birth/Age : |
11.09.1949 |
|
Date of Appointment : |
12.08.1999 |
|
DIN No.: |
00078224 |
|
|
|
|
Name : |
Mr. Shivinder Mohan Singh |
|
Designation : |
Managing director |
|
Address : |
1, South End lane, New Delhi – 110011, India |
|
Date of Birth/Age : |
21.07.1975 |
|
Date of Appointment : |
29.06.2000 |
|
DIN No.: |
00042910 |
|
|
|
|
Name : |
Mr. Malvinder Mohan Singh |
|
Designation : |
Whole-time Director |
|
Address : |
Vistats 26, Maulsari Avenue, Westend Green Farms, Rajokri, New Delhi –
110038, India |
|
Date of Birth/Age : |
27.11.1972 |
|
Date of Appointment : |
12.08.1999 |
|
DIN No.: |
00042981 |
|
|
|
|
Name : |
Mr. Gurcharan Das |
|
Designation : |
Director |
|
Address : |
124, Jor Bagh, New Delhi – 110003, India |
|
Date of Birth/Age : |
03.10.1943 |
|
Date of Appointment : |
29.06.2000 |
|
DIN No.: |
00032103 |
|
|
|
|
Name : |
Mr. Preetinder Singh Joshi |
|
Designation : |
Director |
|
Address : |
Maharaj Sawan Singh Charitable Hospital, Beas, Amritsar – 143201,
Punjab, India |
|
Date of Birth/Age : |
17.11.1947 |
|
Date of Appointment : |
28.07.1998 |
|
DIN No.: |
00109974 |
|
|
|
|
Name : |
Mr. Brian William Tempest |
|
Designation : |
Director |
|
Address : |
South Park Farm, Grayswood Road, Haslemere, Surrey, GU27 2DJ, UK |
|
Date of Birth/Age : |
13.06.1947 |
|
Date of Appointment : |
02.08.2011 |
|
DIN No.: |
00101235 |
|
|
|
|
Name : |
Mr. Sunil Naraindas Godhwani |
|
Designation : |
Director |
|
Address : |
A-2, Inayat Farm, Fatehpur Bri, P.O. Mehrauli, New Delhi – 110030,
India |
|
Date of Birth/Age : |
10.12.1960 |
|
Date of Appointment : |
26.02.2009 |
|
DIN No.: |
00174831 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Rahul |
|
Designation : |
Secretary |
|
Address : |
A-417, Santidoot Apartment, Vasundhra Enclave, Delhi – 110096, India |
|
Date of Birth/Age : |
24.02.1980 |
|
Date of Appointment : |
01.05.2012 |
|
PAN No.: |
AGLPR8045D |
|
|
|
|
Name : |
Mr. Gosha |
|
Designation : |
Pharmacy Incharge |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
RHC Holding Private Limited, India |
|
4646000 |
|
Total |
|
4646000 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Public financial companies |
0.68 |
|
Nationalised or other banks |
0.03 |
|
Mutual funds |
0.78 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
15.07 |
|
Bodies corporate |
76.50 |
|
Directors or relatives of Directors |
0.03 |
|
Other top fifty shareholders |
1.73 |
|
Other |
5.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
It’s a Hospital |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institution : |
L&T Infrastructure Finance Company Limited, Mount Poonamallee
Road, Manapakkam, Chennai - 600089, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf view, Corporate Tower B, Sector 42, Sector Road, Gurgaon - 122002, Haryana, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Ultimate Holding
Company : |
RHC Holding Private Limited (Holding Company of Fortis Healthcare Holdings Private Limited |
|
|
|
|
Holding Company: |
Fortis Healthcare Holdings Private Limited (FHHPL) |
|
|
|
|
Subsidiary
Companies - direct or indirect through investment in subsidiaries |
|
|
|
|
|
Fellow Subsidiaries
(with whom transactions have been taken place) |
|
|
|
|
|
Associates |
|
|
|
|
|
Joint Ventures |
|
|
|
|
|
Enterprises owned or significantly Influenced by key management personnel or their relatives : |
|
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.10/- each |
Rs.6000.000 Millions |
|
200 |
Class A (Non-Cumulative Redeemable Preference Shares) |
Rs.100000/- each |
Rs.20.000 Millions |
|
11498800 |
Class B (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.114.988 Millions |
|
61305200 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.613.052 Millions |
|
3196000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.31.960 Millions |
|
|
Total |
|
Rs.6780.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
462776414 |
Equity Shares |
Rs.10/- each |
Rs.4627.764 Millions |
|
1600000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.16.000 Millions |
|
3196000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.28.764 Millions |
|
|
Total |
|
Rs.4672.528
Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
462776414 |
Equity Shares |
Rs.10/- each |
Rs.4627.764 Millions |
|
1450000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.14.500 Millions |
|
3196000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.9/- each |
Rs.28.764 Millions |
|
|
Total |
|
Rs.4671.028
Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.10/- each |
Rs.6000.000 Millions |
|
200 |
Class A (Non-Cumulative Redeemable Preference Shares) |
Rs.100000/- each |
Rs.20.000 Millions |
|
11498800 |
Class B (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.114.988 Millions |
|
61305200 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.613.052 Millions |
|
3196000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.31.960 Millions |
|
|
Total |
|
Rs.6780.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
405207300 |
Equity Shares |
Rs.10/- each |
Rs.4052.073 Millions |
|
1600000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.16.000 Millions |
|
3196000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.31.960 Millions |
|
|
Total |
|
Rs.4100.033
Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
405207300 |
Equity Shares |
Rs.10/- each |
Rs.4052.073 Millions |
|
1450000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.14.500 Millions |
|
3196000 |
Class C (Non-Cumulative Redeemable Preference Shares) |
Rs.9/- each |
Rs.28.764 Millions |
|
|
Total |
|
Rs.4095.337
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4095.337 |
4095.061 |
4094.299 |
|
(b) Reserves & Surplus |
27955.186 |
27950.956 |
26097.264 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.921 |
|
Total
Shareholders’ Funds (1) + (2) |
32050.523 |
32046.017 |
30192.484 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6974.333 |
6797.823 |
4458.720 |
|
(b) Deferred tax liabilities (Net) |
3.184 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
152.702 |
764.156 |
319.501 |
|
(d) long-term
provisions |
70.411 |
46.612 |
33.153 |
|
Total Non-current
Liabilities (3) |
7200.630 |
7608.591 |
4811.374 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3005.649 |
4226.605 |
0.000 |
|
(b) Trade
payables |
473.431 |
463.761 |
280.795 |
|
(c) Other
current liabilities |
1975.832 |
588.222 |
418.235 |
|
(d) Short-term
provisions |
76.576 |
41.727 |
35.416 |
|
Total Current
Liabilities (4) |
5531.488 |
5320.315 |
734.446 |
|
|
|
|
|
|
TOTAL |
44782.641 |
44974.923 |
35738.304 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1145.452 |
832.172 |
726.277 |
|
(ii)
Intangible Assets |
30.424 |
13.032 |
9.416 |
|
(iii)
Capital work-in-progress |
729.423 |
486.509 |
51.319 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21026.846 |
23100.817 |
14896.683 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8387.524 |
5033.193 |
4000.890 |
|
(e) Other
Non-current assets |
1742.819 |
166.497 |
198.689 |
|
Total Non-Current
Assets |
33062.488 |
29632.220 |
19883.274 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
3031.971 |
0.000 |
411.507 |
|
(b)
Inventories |
48.486 |
42.529 |
32.304 |
|
(c) Trade
receivables |
930.503 |
624.950 |
541.206 |
|
(d) Cash
and cash equivalents |
1085.796 |
148.650 |
380.648 |
|
(e)
Short-term loans and advances |
6503.488 |
13925.343 |
13491.992 |
|
(f) Other
current assets |
119.909 |
601.231 |
997.373 |
|
Total
Current Assets |
11720.153 |
15342.703 |
15855.030 |
|
|
|
|
|
|
TOTAL |
44782.641 |
44974.923 |
35738.304 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3529.721 |
2812.797 |
2654.494 |
|
|
|
Other Income |
1905.693 |
1270.424 |
1755.398 |
|
|
|
TOTAL (A) |
5435.414 |
4083.221 |
4409.892 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1018.706 |
795.171 |
710.666 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.139) |
(9.556) |
(1.432) |
|
|
|
Employees benefits expense |
959.386 |
653.422 |
583.508 |
|
|
|
Other expenses |
1568.374 |
1326.083 |
1058.593 |
|
|
|
Exceptional item |
0.000 |
-1846.237 |
0.000 |
|
|
|
TOTAL (B) |
3541.327 |
918.883 |
2351.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1894.087 |
3164.338 |
2058.557 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1338.647 |
1029.340 |
536.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
555.440 |
2134.998 |
1522.053 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
234.683 |
121.144 |
103.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
320.757 |
2013.854 |
1418.101 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
148.269 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
172.488 |
2013.854 |
1418.101 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.43 |
4.97 |
3.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.17 |
49.32 |
32.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.09 |
71.60 |
53.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.39 |
9.42 |
6.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.06 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.34 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
2.88 |
21.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4094.299 |
4095.061 |
4095.337 |
|
Reserves & Surplus |
26097.264 |
27950.956 |
27955.186 |
|
Share Application money
pending allotment |
0.921 |
0.000 |
0.000 |
|
Net
worth |
30192.484 |
32046.017 |
32050.523 |
|
|
|
|
|
|
long-term borrowings |
4458.720 |
6797.823 |
6974.333 |
|
Short term borrowings |
0.000 |
4226.605 |
3005.649 |
|
Total
borrowings |
4458.720 |
11024.428 |
9979.982 |
|
Debt/Equity
ratio |
0.148 |
0.344 |
0.311 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2654.494 |
2812.797 |
3529.721 |
|
|
|
5.964 |
25.488 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2654.494 |
2812.797 |
3529.721 |
|
Profit |
1418.101 |
2013.854 |
172.488 |
|
|
53.42% |
71.60% |
4.89% |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
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 |
Note:
The registered office of the company has been shifted from
Piccadily House, 275/276 (4th Floor), Captain Gaur Marg Srinivas
Puri, Delhi – 110065,
India
to present address w.e.f. 23.01.2008
NATURE OF OPERATIONS
Subject was incorporated in the year 1996 and commenced its hospital operations in the year 2001 with the flagship of Multi-Specialty Hospital at Mohali and has thereafter set up/ acquired/ taken over the management of other hospitals in different parts of the country. As part of its business activities, the Company holds interests in its subsidiaries, joint ventures and associate companies through which it manages and operates a network of multi-specialty hospitals. The Company’s equity shares are listed on both Bombay Stock Exchange and National Stock Exchange and its Foreign Currency Convertible Bonds are listed on the Euro MTF market of the Luxembourg Stock Exchange.
OPERATING RESULTS AND
PROFITS
The performance of the Company is manifested in the Operating Revenues and Net Profit posted for the year. During the year ended March 31, 2013, the Consolidated Revenues from Operations from continuing operations stood at Rs.42431.660 Millions as against Rs.26176.720 Millions for the corresponding previous year registering a growth of 62.10%. The Profit before Depreciation, Interest and Tax stood at Rs.14637.460 Millions as against Rs.5188.870 Millions for the corresponding previous year. The Net Profit after Tax but before Profits attributable to Minority Interest and Share in the profits of Associates stood at Rs.5113.610 Millions as against Rs.565.010 Millions for the corresponding previous year. The Net Profit after Tax but before Profits attributable to Minority Interest and Share in the profits of Associates from discontinue operations stood at Rs.530.080 Millions as against Rs.104.140 Millions for the corresponding previous year.
The Company has continued to strive towards improving the value proposition it offers to the patients and general public and during the year, has made further strides in implementing its strategic growth and development initiatives across various facets of the Organization. Expanding and deepening the footprint of network hospitals has helped us to touch increasing number of lives during the year.
The Company is a leading healthcare delivery provider in Asia. As of March 31, 2013, the healthcare verticals of the company spanned diagnostics, primary care, day care speciality and hospitals, with an asset base in 11 countries, many of which represent the fastest-growing healthcare delivery markets in the world. The company had a network of 70 healthcare facilities (including projects under development), with over 5,400 operational beds and the potential to reach approx. 11,000 beds. Its inpatient healthcare facilities are situated in India, Singapore, Vietnam and Mauritius. The Company’s healthcare facility network is supported by over 600 primary care centres, over 190 specialty day care centres, over 240 diagnostic centres and a base of over 22,000 employees, along with approximately 2,000 people working in its network of managed healthcare facilities. The Company is driven by the vision of becoming a global leader in the integrated healthcare delivery space and the larger purpose of saving and enriching lives through clinical excellence.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Bonds |
5428.500 |
5094.490 |
|
Short-term
borrowings |
|
|
|
Non-convertible debentures others |
0.000 |
3000.000 |
|
Working capital loans from banks |
0.000 |
350.000 |
|
Commercial paper |
0.000 |
750.000 |
|
Total |
5428.500 |
9194.490 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10327322 |
07/11/2013 * |
1,750,000,000.00 |
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED |
MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, TAMILNADU - 600089, INDIA |
B89902217 |
|
2 |
10173314 |
05/02/2014 * |
500,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B97909105 |
|
3 |
10040592 |
20/02/2007 |
150,000,000.00 |
GE CAPITAL SERVICES INDIA |
AIFCS BUILDING,IST FLOOR, 1,RAFI MARG,, NEW DELHI, DELHI - 110001, INDIA |
A11637774 |
* Date of charge modification
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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.