MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	PITRE BUSINESS VENTURES PRIVATE LIMITED (w.e.f. 16.12.2013)
Formerly Known As :	SUSHRUT SURGICALS PRIVATE LIMITED
Country :	India
Financials (as on) :	31.03.2013
Legal Form :	Private Limited Liability Company
No. of Employees :	Information declined by the management

BUSINESS DETAILS

Line of Business :

To manufacturer, Import and Export Surgical Instruments, Appliances and Disposables, Hospital Equipment Orthopedic Implants and Instruments, Laboratory Equipment and Spares, Accessories and Allied Articles.

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

Bank of Maharashtra, Hinjawadi Branch, Hinjawadi, Taluka Mulshi, Pune - 411057, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
Vehicle loan from BMW financial services	0.000	0.968
SHORT TERM BORROWINGS
Cash credit from schedule bank	6.556	0.000
Total	6.556	0.968
Unsecured Loan	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
From SICOM	0.006	0.006
Loan from directors and shareholders	0.264	0.015
Deferred liabilities	0.000	0.498
Total	0.270	0.519

Banking Relations :
Auditors :
Name :	GRS and Associates Chartered Accountant
Address :	A-1, Sindhi Niwas, Sitaladevi Temple Road, Mahim, Mumbai – 400016, Maharashtra, India
PAN No.:	AADFG4422H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 24.09.2013

Names of Shareholders	No. of Shares
Pitre Vasant Vimal	500
Pitre Manohar Vasant	500
Pitre Vasant Ajay	8385
Pitre Ajay Bharati	2130
Vasant Pitre (HUF)	500
Ajay Pitre (HUF)	88
Pitre Ajay Varun	1456
Pitre Ajay Anuja	1456
Total	15015

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	1.501	1.501	1.501
(b) Reserves & Surplus	142.983	117.213	101.876
(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)	144.484	118.714	103.377
(3) Non-Current Liabilities
(a) long-term borrowings	0.270	1.487	3.122
(b) Deferred tax liabilities (Net)	2.460	5.981	3.152
(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)	2.730	7.468	6.274
(4) Current Liabilities
(a) Short term borrowings	6.556	0.000	7.340
(b) Trade payables	28.267	30.739	29.442
(c) Other current liabilities	6.229	5.486	5.441
(d) Short-term provisions	12.296	5.671	6.851
Total Current Liabilities (4)	53.348	41.896	49.074
TOTAL	200.562	168.078	158.725
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	24.486	23.115	24.567
(ii) Intangible Assets	1.400	1.156	0.116
(iii) Capital work-in-progress	2.326	1.803	0.000
(iv) Intangible assets under development	0.000	0.000	1.474
(b) Non-current Investments	0.159	0.161	0.161
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.871	7.966	8.506
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	35.242	34.201	34.824
(2) Current assets
(a) Current investments	81.511	43.633	17.177
(b) Inventories	45.790	44.736	40.784
(c) Trade receivables	30.883	37.870	28.109
(d) Cash and cash equivalents	6.199	6.726	36.322
(e) Short-term loans and advances	0.856	0.848	1.471
(f) Other current assets	0.081	0.064	0.038
Total Current Assets	165.320	133.877	123.901
TOTAL	200.562	168.078	158.725

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL (A)	271.361	236.755	239.721
Less	EXPENSES
		TOTAL (B)	216.576	195.514	197.426
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		54.785	41.241	42.295
Less	FINANCIAL EXPENSES (D)		0.236	0.330	0.117
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		54.549	40.911	42.178
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.596	4.077	4.001
	PROFIT BEFORE TAX (E-F) (G)		49.953	36.834	38.177
Less	TAX (H)		11.887	15.826	18.466
	PROFIT AFTER TAX (G-H) (I)		38.066	21.008	19.711
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		29.698	24.362	21.501
Less	APPROPRIATIONS
		Transfer to General Reserve	10.000	10.000	10.000
		Dividend	10.510	4.880	5.855
		Tax on Dividend	1.786	0.792	0.995
	BALANCE CARRIED TO THE B/S		45.468	29.698	24.362
	Earnings Per Share (Rs.)		2535.20	1399.14	NA

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office :	Sushrut House, Survey No.288, Next to MIDC Hinjewadi, Phase II, at Mann, Taluka Muslhi, Pune – 411057, Maharashtra, India
Tel. No.:	91-20-66520700
Fax No.:	91-20-66520800
E-Mail :	info@sushrut.com accounts@sushrut.com
Branch Office:	Located at: · Ratnagiri · Mumbai · Chennai

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