MIRA INFORM REPORT
|
Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAQUET MEDICAL INDIA PRIVATE LIMITED |
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Registered
Office : |
II and III Floor, ‘Mehta Trade Centre’, No.1, Shivaji Colony, Plot
No.94, CTS No. 306, Andheri (East), Mumbai – 400099, Maharashtra |
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Country : |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
30.01.2004 |
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Com. Reg. No.: |
11-144317 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U33110MH2004PTC144317 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22263D |
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PAN No.: [Permanent Account No.] |
AADCM8545J |
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Legal Form : |
Private limited Liability Company |
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Line of Business
: |
Supplier of Medical
Equipment and Devices. |
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No. of Employees
: |
Information declined by the
management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported
to be regular and as per commitments. The company can be considered normal 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Walter |
|
Designation : |
Finance Head |
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Contact No.: |
91-22-40692100 |
|
Date : |
15.12.2014 |
LOCATIONS
|
Registered Office : |
II and III Floor, ‘Mehta Trade Centre’, No.1, Shivaji Colony, Plot
No.94, CTS No. 306, Andheri (East), Mumbai – 400099, Maharashtra, India |
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Tel. No.: |
91-22-40692100 |
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Fax No.: |
91-22-40692151 |
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E-Mail : |
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Website : |
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Branch : |
South Regional Office: Old No 27 New No 57A, Ground Floor Zubi Manor 7th Avenue Ashok Nagar, Chennai – 600083, Tamilnadu, India |
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Tel. No.: |
91-44-45022046 |
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Fax No.: |
91-44-45022047 |
DIRECTORS
AS ON 30.06.2014
|
Name : |
Purushotham Mahavadi |
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Designation : |
Director |
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Address : |
Schlesische, Strasse, 8G, Stockelsdorf – 23617, Germany |
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Date of Birth/Age : |
09.04.1954 |
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Date of Appointment : |
26.03.2004 |
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DIN No.: |
00924895 |
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Name : |
Reinhard Josef Mayer |
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Designation : |
Director |
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Address : |
IM Naegele 259, Germany |
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Date of Birth/Age : |
05.09.1967 |
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Date of Appointment : |
26.03.2004 |
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DIN No.: |
00751360 |
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Name : |
Prabhat Rastogi |
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Designation : |
Director |
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Address : |
C 801, Whispering Palms, Exclusive, Lokhandwala, Akruli, Kandivali
East, Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
29.09.1958 |
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Date of Appointment : |
26.03.2004 |
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DIN No.: |
00085637 |
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Name : |
Ashim Shashikant Purohit |
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Designation : |
Director |
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Address : |
1, Vishwadhar, Natwar Nagar, Jogeshwari East, Mumbai – 400060,
Maharashtra, India |
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Date of Birth/Age : |
29.09.1968 |
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Date of Appointment : |
26.03.2004 |
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DIN No.: |
00085736 |
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Name : |
Philippe Vincent Rocher |
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Designation : |
Director |
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Address : |
Singapore |
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Date of Birth/Age : |
10.11.1972 |
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Date of Appointment : |
24.04.2013 |
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DIN No.: |
06565574 |
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Name : |
Serge Exshaw |
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Designation : |
Director |
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Address : |
Dubai |
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Date of Birth/Age : |
15.07.1968 |
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Date of Appointment : |
09.04.2014 |
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DIN No.: |
06831390 |
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Name : |
Heinz Jacqui |
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Designation : |
Director |
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Address : |
Hamburger Straee E29, Bad Schwrt AU |
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Date of Birth/Age : |
08.01.1961 |
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Date of Appointment : |
24.04.2013 |
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DIN No.: |
06605902 |
KEY EXECUTIVE
|
Name : |
Mr. Walter |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
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Names of Shareholders |
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No. of Shares |
|
Maquet Holding AB, Sweden |
|
495000 |
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Maquet Gmbh, Germany |
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5000 |
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Total |
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500000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.06.2014
|
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 |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Supplier of Medical
Equipment and Devices. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Supplier : |
Not Divulged |
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Customer : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
252,Veer Savarkar Marg, Shivaji Park, Dadar West, Mumbai-400028, Maharashtra, India |
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PAN No.: |
AAFFP3698A |
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Fellow Subsidiary company: |
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Ultimate Holding
company : |
Getinge AB |
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Holding company : |
Maquet Holding AB |
CAPITAL STRUCTURE
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves &
Surplus |
310.600 |
229.579 |
239.002 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
315.600 |
234.579 |
244.002 |
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(3) Non-Current
Liabilities |
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|
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
17.993 |
18.551 |
15.973 |
|
(d) long-term provisions |
39.570 |
24.778 |
47.095 |
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Total Non-current
Liabilities (3) |
57.563 |
43.329 |
63.068 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
614.191 |
327.136 |
247.073 |
|
(c) Other current
liabilities |
128.947 |
100.504 |
53.774 |
|
(d) Short-term provisions |
178.132 |
67.248 |
38.954 |
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Total Current Liabilities
(4) |
921.270 |
494.888 |
339.801 |
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TOTAL |
1294.433 |
772.796 |
646.871 |
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II.
ASSETS |
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|
(1) Non-current assets |
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(a) Fixed Assets |
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|
|
|
(i) Tangible assets |
15.378 |
14.699 |
13.722 |
|
(ii) Intangible Assets |
0.512 |
0.215 |
0.420 |
|
(iii) Capital work-in-progress |
0.500 |
0.000 |
0.782 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
4.878 |
2.974 |
3.447 |
|
(d) Long-term Loan and Advances |
32.269 |
30.427 |
0.000 |
|
(e) Other Non-current
assets |
2.877 |
2.646 |
0.678 |
|
Total Non-Current Assets |
56.414 |
50.961 |
19.049 |
|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
380.102 |
202.265 |
151.301 |
|
(c) Trade receivables |
680.467 |
340.377 |
354.903 |
|
(d) Cash and cash
equivalents |
110.983 |
128.161 |
77.647 |
|
(e) Short-term loans and
advances |
40.669 |
27.076 |
43.845 |
|
(f) Other current assets |
25.798 |
23.956 |
0.126 |
|
Total Current Assets |
1238.019 |
721.835 |
627.822 |
|
|
|
|
|
|
TOTAL |
1294.433 |
772.796 |
646.871 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
SALES |
|
|
|
|
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Income |
2.36 Billion |
1.37 Billion |
1.13 Billion |
|
|
Other Income |
NA |
NA |
NA |
|
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TOTAL |
NA |
NA |
NA |
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|
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|
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|
|
Less |
EXPENSES |
NA |
NA |
NA |
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|
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|
|
PROFIT/ (LOSS) BEFORE TAX |
283.000 |
143.000 |
138.000 |
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Less |
TAX |
96.683 |
47.591 |
46.266 |
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|
PROFIT/ (LOSS) AFTER TAX
|
186.317 |
95.409 |
91.734 |
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Commission |
53.677 |
93.343 |
105.952 |
|
|
TOTAL EARNINGS |
53.677 |
93.343 |
105.952 |
|
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|
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|
|
IMPORTS |
|
|
|
|
|
Trading Goods and
Components |
1485.284 |
896.442 |
684.292 |
|
|
TOTAL IMPORTS |
1485.284 |
896.442 |
684.292 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
372.63 |
190.82 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.95 |
18.58 |
21.47 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.90 |
0.61 |
0.57 |
|
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|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.46 |
1.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
239.002 |
229.579 |
310.600 |
|
Net worth |
244.002 |
234.579 |
315.600 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
No |
|
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 |
No |
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
NOTE:
The registered office address of the company
has been shifted from 102, Pressman House 70A, Nehru Road
Vile Parle (E), Mumbai – 400099, Maharashtra,
India to present address w.e.f. 21.02.2008.
FINANCIAL RESULTS:
The Company has very successfully consolidating its position in the Indian market. The Gross Income during this Period has been INR 2.36 billion as compared to INR 1.37 billion in the previous year, an increase of 72% over the previous year. The net profit before tax has increased by 140 Million as Compared to last year, the Net profit before tax during the period was Rs. 283 million as compared to 143 million in the previous year.
EXPANSION AND FUTURE
OUTLOOK
The Company has a reasonable market share in various business segments & will continue to be aggressive in the market to increase its share. With the Acquisition of Atrium Corporation, USA by Getinge Group, offers major opportunities for favorable organic Growth in the area of Cardiac and General Surgery in coming years.
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.62.65 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.78.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.