MIRA
INFORM REPORT
|
Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DR. L. H. HIRANANDANI HOSPITAL |
|
|
|
|
Registered
Office : |
Basement Pharmacy, Hill Side Avenue, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
February 2004 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Trust |
|
|
|
|
Line of Business
: |
Providing all types of Healthcare Services. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject is a well-established trust having satisfactory track record.
It is engaged into providing health care services. The rating also reflects well established and reputed trustees of the
trust. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. The trust 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 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.
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 : |
Ms. Manisha |
|
Designation : |
Pharmacy Head |
|
Contact No.: |
91-22-25763300 |
|
Date : |
23.04.2014 |
LOCATIONS
|
Registered Office : |
Basement Pharmacy, Hill Side Avenue, Hiranandani
Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Tel. No.: |
91-22-25763300 / 73 |
|
Fax No.: |
91-22-25763311 / 44 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Gharbunder Road, Thane (West), Thane – 400607, Maharashtra, India |
|
|
|
|
Emergency Contacts
: |
Board : 91-22-25763300 / 25763333 Accident and Emergency Care : 91-22-25763322 / 25763323 / 25763328 Blood Bank : 91-22-25763355 / 25763356 Health Check : 91-22-25763318 / 25763398 Online OPD Appointment : 91-22-25763500 Home Care : 91-22-25763322 Laboratory : 91-22-25763366 Radiology : 91-22-25763388 |
MANAGEMENT
|
Name : |
Dr. Niranjan Hiranandani
|
|
Designation : |
Trustee |
|
|
|
|
Name : |
Dr. Surendra Hiranandani |
|
Designation : |
Trustee |
|
|
|
|
Name : |
Ms. Asha Bhatia |
|
Designation : |
Trustee |
KEY EXECUTIVES
|
Name : |
Ms. Manisha |
|
Designation : |
Pharmacy Head |
BUSINESS DETAILS
|
Line of Business : |
Providing all types of Healthcare Services. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
Aventis Pharma Limited |
|
|
|
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
Axis Bank, Powai and Ghorbunder
Road, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
1680.000 |
1250.000 |
The above information has been parted by Ms. Manisha
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs. In
Millions |
Rs. In
Millions |
|
Sales |
|
1,250.000 |
1,680.000 |
|
|
|
|
34.400 |
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 |
No |
|
8] |
No. of employees |
No |
|
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 |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
AWARDS AND
ACCOLADES
·
ISO Certification
– 2006
Recertified in 2009 with ISO 9001:2008
·
NABH Accredited
Hospital
In 2007 Dr L H Hiranandani Hospital became the first hospital in Mumbai and the Western region of India to receive the prestigious NABH Accreditation for hospitals and healthcare providers- an honor accorded to only eight hospitals in the country at the time. The hospital was reaccredited in 2010
·
NABL Accredited
Hospital
Department of Laboratory Medicine at Dr L H Hiranandani Hospital was accredited by National Accreditation Board in the year 2008. The laboratory became the second in Mumbai to be accredited by NABH.
·
NABH for Blood
Bank – 2011
Dr L H Hiranandani hospital Blood Bank received NABH accreditation in the year 2011. The Blood Bank became the fourth in Mumbai to be accredited by NABH.
·
Best Concrete
Structure – 2006
Dr L H Hiranandani receives the best made concrete building healthcare award for the best in category nationally in the year 2006.
·
IMC Ramkrishna Bajaj National
Quality Award – 2008
Dr L H Hiranandani Hospital is recipient of the IMC Ramkrishna Bajaj National Quality Award for the year 2008.
·
International Asia
Pacific Quality Award – 2009
The hospital has also received the prestigious International Asia Pacific Award (IAPQA) conferred by the Asia Pacific Quality Organization (APQO). This is for the first time in India that a hospital has won the award. (Award evaluation process is based on the Malcolm Baldridge criteria).The bottom line being this hospital is known to render quality healthcare.
·
The Complete
Wellbeing health & happiness brand survey – 2009
Dr L H Hiranandani Hospital features among the top 10 health brands in “The Complete Wellbeing health & happiness brand survey 2009” conducted by global research company synovate.
·
Tata Power’s Energy Conservation Award – 2012
Dr L H Hiranandani Hospital has received “Tata Power’s Energy Conservation Award” for HT commercial segment in the year 2012. The award is been given to those who seriously and consistently deploy various energy conservation methods in their facilities.
·
HBII Award for
“Best Healing Environment Award” Category – 2012
Hospital Building and Infrastructure India launched “HBII Awards” to recognize and promote excellence in the Hospital Infrastructure sector. Dr L H Hiranandani hospital has won the first HBII award under the category “Best Healing Environment Award” in the year 2012.
·
Award for the “Best
Places to Work in Healthcare” in India – 2013
Dr L H Hiranandani hospital has been ranked 2nd amongst Hospital’s in India for the “Best Places to Work in Healthcare” in India. This was a competition in which 30 leading hospitals amongst India participated. The competition was organized by HOSMAC, in association with a marketing research organization.
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
52 |
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.