MIRA INFORM REPORT
|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HICKS THERMAMETERS INDIA LIMITED |
|
|
|
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Registered
Office : |
A-12-13/C-26, Industrial Estate, Aligarh-202001, Uttar Pradesh |
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Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
02.06.1961 |
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|
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Com. Reg. No.: |
20-2846 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.3.255
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L33112UP1961PLC002846 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AGRH10215C |
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|
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PAN No.: [Permanent Account No.] |
AAACH9203R |
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|
Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business
: |
Manufacturer of Thermometers and Surgical Products. |
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|
|
No. of Employees
: |
250 [Approximately] [In Office
100 and In Factory 150] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company seems to be low. Trade relations are fair. Business is active. Payment terms are
reported to be 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 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 : |
Mr. Siddharth Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9837636288 |
|
Date : |
10.03.2014 |
LOCATIONS
|
Registered Office / Factory: |
A-12-13/C-26, Industrial Estate, Aligarh-202001, Uttar Pradesh, India |
|
Tel. No.: |
91-571-3202874/2409163 |
|
Mobile No.: |
91-9837636288 [Mr. Siddharth Gupta] |
|
Fax No.: |
91-571-2403238 |
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E-Mail : |
|
|
Website : |
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|
Area: |
7000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
AS ON 31.03.2013
|
Name : |
Dr. Vijay Gupta |
|
Designation : |
Executive Chairman |
|
Address : |
Vijay Nikunj, Tikaram Mandir Marg, Aligarh-202001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
02.01.1928 |
|
Date of Appointment : |
01.05.2008 |
|
PAN No.: |
AARPG8662K |
|
Din No.: |
00174314 |
|
|
|
|
Name : |
Mr. Hari Prakash Gupta |
|
Designation : |
Managing Director |
|
Address : |
Vijay Nikunj, Tikaram Mandir Marg, Aligarh-202001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
02.09.1946 |
|
Date of Appointment : |
01.05.2008 |
|
PAN No.: |
AARPG5426D |
|
Din No.: |
00173929 |
|
|
|
|
Name : |
Mr. Siddharth Gupta |
|
Designation : |
Joint Managing Director |
|
Address : |
Vijay Nikunj, Tikaram Mandir Marg, Aligarh-202001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
09.01.1973 |
|
Date of Appointment : |
01.05.2008 |
|
PAN No.: |
AGKPG8388B |
|
Din No.: |
00174038 |
|
|
|
|
Name : |
Dr. Ranjana Bansal |
|
Designation : |
Director |
|
Address : |
202, General Cariappa Road, Agra, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.09.1955 |
|
Date of Appointment : |
22.10.1994 |
|
Din No.: |
01243291 |
|
|
|
|
Name : |
Mr. Bharat Bhushan Deva |
|
Designation : |
Director |
|
Address : |
Baijnath Dham, Varanasi, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.12.1953 |
|
Date of Appointment : |
28.07.1998 |
|
Din No.: |
01229390 |
|
|
|
|
Name : |
Mrs. Kusum Gupta |
|
Designation : |
Director |
|
Address : |
Vijay Nikunj, Tikaram Mandir Marg, Aligarh-202001, Uttar Pradesh,
India |
|
Date of Birth/Age : |
26.03.1947 |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
00174200 |
|
|
|
|
Name : |
Mr. Sher Singh |
|
Designation : |
Director |
|
Address : |
Patpar Ganj, New Delhi, India |
|
Date of Birth/Age : |
15.10.1939 |
|
Date of Appointment : |
27.05.1995 |
|
Din No.: |
00939677 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Names of Shareholders |
No. of Shares |
|
Anthony Johan |
20 |
|
Aruna Prabhakar |
20 |
|
Amiya Kumar |
40 |
|
Mukherjee |
40 |
|
Anna Purna Ghosh |
20 |
|
Ashok Saha, |
20 |
|
Bharat Bansal |
10000 |
|
Praniti Bansal |
10000 |
|
Rakesh Mittal |
10000 |
|
Ashok Mittal |
10000 |
|
Seema Mittal |
10000 |
|
Gita Kumar |
400 |
|
Indra Kumar |
100 |
AS ON 31.03.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.44 |
|
Bodies
corporate |
|
4.69 |
|
Directors
or relatives of directors |
|
49.13 |
|
Other
top fifty shareholders |
|
23.72 |
|
Others
|
|
15.02 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Thermometers and Surgical Products. |
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Products : |
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Imports : |
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Products : |
Finished Goods and Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATUS [AS ON 31.03.2013]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Thermometer |
Pcs. |
NA |
2500000 |
1513005 |
GENERAL INFORMATION
|
No. of Employees : |
250 [Approximately] [In Office
100 and In Factory 150] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Manish Ritu Agarwal and Associates Chartered Accountants |
|
Address : |
No. 9, Iind Floor, Vikram Arcade Subhash Road, Aligarh-202001, Uttar
Pradesh, India |
|
Tel. No.: |
91-571-2402233 |
|
PAN No: |
AAYPA0831H |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
|
100000 |
Preferences Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
TOTAL
|
|
Rs.5.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
279540 |
Equity Shares |
Rs.10/- each
|
Rs.2.795
Millions |
|
50000 |
Preferences Shares |
Rs.10/- each
|
Rs.0.500
Million |
|
|
TOTAL |
|
Rs.3.295 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
275500 |
Equity Shares |
Rs.10/- each
|
Rs.2.755
Millions |
|
50000 |
Preferences Shares |
Rs.10/- each
|
Rs.0.500
Million |
|
|
TOTAL |
|
Rs.3.255 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 |
3.255 |
3.255 |
3.255 |
|
(b) Reserves & Surplus |
33.283 |
25.445 |
17.856 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
36.538 |
28.700 |
21.111 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.733 |
17.202 |
12.736 |
|
(b) Deferred tax liabilities
(Net) |
0.805 |
0.662 |
0.680 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
19.538 |
17.864 |
13.416 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
21.932 |
19.678 |
19.757 |
|
(b) Trade payables |
41.532 |
39.360 |
11.158 |
|
(c) Other current liabilities |
2.137 |
2.019 |
1.828 |
|
(d) Short-term provisions |
0.741 |
0.649 |
0.710 |
|
Total
Current Liabilities (4) |
66.342 |
61.706 |
33.453 |
|
|
|
|
|
|
TOTAL |
122.418 |
108.270 |
67.980 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.690 |
9.209 |
7.638 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
11.700 |
9.219 |
7.648 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
62.708 |
65.161 |
35.244 |
|
(c) Trade receivables |
28.677 |
20.986 |
12.858 |
|
(d) Cash and cash equivalents |
17.611 |
11.887 |
11.324 |
|
(e) Short-term loans and
advances |
1.647 |
0.997 |
0.906 |
|
(f) Other current assets |
0.075 |
0.021 |
0.000 |
|
Total
Current Assets |
110.718 |
99.052 |
60.332 |
|
|
|
|
|
|
TOTAL |
122.418 |
108.271 |
67.980 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
336.452 |
305.853 |
242.535 |
|
|
|
Other Income |
2.415 |
1.642 |
0.797 |
|
|
|
TOTAL (A) |
338.867 |
307.495 |
243.332 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
13.889 |
10.823 |
6.911 |
|
|
|
Purchases of stock-in-trade |
203.844 |
200.444 |
134.113 |
|
|
|
Employee benefit expense |
10.748 |
9.121 |
9.527 |
|
|
|
Other expenses |
92.010 |
101.764 |
85.535 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
1.719 |
(30.140) |
(4.345) |
|
|
|
TOTAL (B) |
322.210 |
292.012 |
231.741 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.657 |
15.483 |
11.591 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.863 |
3.373 |
2.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.794 |
12.110 |
9.021 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.088 |
0.993 |
0.705 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
11.706 |
11.117 |
8.316 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.868 |
3.528 |
2.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.838 |
7.589 |
5.729 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
25.084 |
17.495 |
11.766 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
32.922 |
25.084 |
17.495 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.093 |
1.624 |
0.693 |
|
|
|
Trading (Thermometer) |
45.644 |
48.012 |
32.173 |
|
|
|
Trading (Surgical) |
55.512 |
47.652 |
31.915 |
|
|
|
Machinery |
0.000 |
0.019 |
0.031 |
|
|
|
Semi-finished |
1.066 |
0.000 |
0.662 |
|
|
|
Sample |
0.000 |
0.035 |
0.000 |
|
|
TOTAL IMPORTS |
103.315 |
97.342 |
65.474 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
28.00 |
28.00 |
20.79 |
|
Expected Sales (2013-2014) : Rs.400.000 Millions to Rs.500.000 Millions
The above information has been parted by Mr. Siddharth Gupta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.31
|
2.47
|
2.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.48
|
3.63
|
3.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.56
|
10.27
|
12.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.39
|
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11
|
1.29
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.61
|
1.80 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
3.255 |
3.255 |
3.255 |
|
Reserves & Surplus |
17.856 |
25.445 |
33.283 |
|
Net
worth |
21.111 |
28.700 |
36.538 |
|
|
|
|
|
|
long-term borrowings |
12.736 |
17.202 |
18.733 |
|
Short term borrowings |
17.757 |
19.678 |
21.932 |
|
Total
borrowings |
30.493 |
36.880 |
40.665 |
|
Debt/Equity
ratio |
1.444 |
1.285 |
1.113 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
242.535 |
305.853 |
336.452 |
|
|
|
26.107 |
10.004 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
242.535 |
305.853 |
336.452 |
|
Profit After Tax |
5.729 |
7.589 |
7.838 |
|
|
2.36% |
2.48% |
2.33% |
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 |
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long term
borrowing |
|
|
|
Long term maturities of finance lease
obligation |
1.000 |
1.000 |
|
Deposits from others |
6.250 |
5.850 |
|
Loans and advances from related parties |
11.483 |
10.352 |
|
TOTAL
|
18.733 |
17.202 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10047914 |
20/03/2007 |
1,000,000.00 |
INDIAN OVERSEAS
BANK |
13/6, NEAR
NOVELTY TALKIES, G.T. ROAD, ALIGARH, Uttar Pradesh - 202001, INDIA |
A13625629 |
|
2 |
10010413 |
04/07/2006 |
140,000.00 |
INDIAN OVERSEAS
BANK |
NEAR NOVELTY
TALKIES, G T ROAD, ALIGARH, Uttar Pradesh - 202001, INDIA |
A02655785 |
|
3 |
10010410 |
04/07/2006 |
1,000,000.00 |
INDIAN OVERSEAS
BANK |
NEAR NOVELTY
TALKIES, G T ROAD, ALIGARH, Uttar Pradesh - 202001, INDIA |
A02653475 |
|
4 |
80007778 |
23/09/2013 * |
40,669,000.00 |
INDIAN OVERSEAS
BANK |
13/6 NEAR
NAVELTY TALKIES, G.T.ROAD, ALIGARH, Uttar Pradesh - 202001, INDIA |
B87091690 |
* Date of charge modification
OPERATIONS:
Despite the
recessionary trend of the economy in the previous year and adverse market
conditions, the company has been able to achieve turnover of Rs.337.874
millions.
However due to
adverse Government policies allowing the import of Clinical Thermometers at lower
rate of import duty in comparison to higher rate of import duty on Raw Material
coupled with increased cost of sales and production, the company could not
achieve the target level of profit and turnover.
FINNANCIAL RESULTS:
This year Previous
Year Turnover Rs.337.874 millions Rs.307.575 millions Expenditure Rs.321.218
millions Rs.292.093 millions Profit before tax, interest and depreciation
Rs.16.656 millions Rs.15.482 millions Less Tax Rs.3.631 millions Rs.3.488
millions Less Interest Rs.3863 millions Rs.3.373 millions Less Depreciation
Rs.1.087 millions, Rs.0.993 millions Profit after tax, interest and
depreciation Rs.8.075 millions, Rs.7.628
millions.
CONTINGENT LIABILITIES:
(i)
Outstanding balances of bills discounted Rs. NIL
(Previous year NIL).
(ii)
Claims by Ex-employees of Mussoorie’s unit
(closed), Legal cases pending amount is unascertained.
(iii)
Other money pertaining to pending Legal cases,
amount approx. Rs.2.900 millions for which the Company is contingently liable.
FIXED ASSETS:
- Land
- Building
- Plant, Machinery and Equipments
- Electrical Installation
- Furniture and Fixture
- Generator
- Vehicle
- Office Equipments
- Road and Drainage
- Weighing Scale
- Water Supply
- Installation
- Computer
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.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.