|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GENESIS HEALTH CARE |
|
|
|
|
Registered
Office : |
1-8-449/4/3, Pattigada, Begumpet,
Secunderabad – 500016, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2006 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.697 Millions |
|
|
|
|
IEC No.: |
0906015979 |
|
|
|
|
TIN No.: |
28518549919 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ADXPN4585F |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader and Importer of Defibrillator Zoll
Medical, Patient Handeling System Spancer, Patient Monitoring, Syringe Pump, etc. |
|
|
|
|
No. of Employees
: |
24 [Office=9 + Factory=15] (Approximately) |
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 6000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary concern having satisfactory
track record. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield
(new) and brown field (existing) pharmaceutical companies, despite concerns
over genetic drugs going out of production, if multi-national companies take
over domestic ones. In M&A deals, a non compete clause would not be
allowed, except in special circumstances. The Department of Industrial Policy
and Promotion plans to release the next edition of its consolidated foreign
direct investment policy document on March 31, incorporating changes made in
the past year. DIPP compiles all policies related to India’s FDI regime into a
single document to make it easy for investors to understand. 185 million
estimated number of mobile internet users in India by June 2014, according to a
report by the Internet & Mobile Association of India and IMRB
International. India had 110 million mobile internet users with 25
million in rural areas. $3.77 tn estimated global IT
spending in 2014, according to research firm Gartner Inc. The growth forecast
for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending
growth forecast for telecom services – a segment that accounts for more than 40
% at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason
for this overall IT cut. A Reserve Bank of India committee has recommended
setting up a special category of lenders who would cater to small businesses
and households, to expand the number of customers with access to banking
services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google
Talk, as well as tweeters.
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. Muralidhar Naidu
|
|
Designation : |
Key Person |
|
Contact No.: |
91-9908030435 |
|
Date : |
04.02.2014 |
LOCATIONS
|
Registered Office/ Factory : |
1-8-449/4/3, Pattigada, Begumpet,
Secunderabad – 500016, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27901151 |
|
Mobile No.: |
91-9908030435 (Mr. Muralidhar Naidu) |
|
Fax No.: |
91-40-27901151 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
8500 Sq. ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Maya Naidu |
|
Designation : |
Proprietor |
|
Address : |
207, Janapriya Pramila
Enclaves, Uma Nagar, Begumpet, Secunderadad, Andhra
Pradesh, India |
|
Date of Birth/Age : |
46 Years |
|
Qualification : |
MBA |
|
Experience : |
7 Years |
KEY EXECUTIVES
|
Name : |
Mr. Muralidhar Naidu
|
|
Designation : |
Key Person |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Defibrillator Zoll
Medical, Patient Handeling System Spancer, Patient Monitoring, Syringe Pump, etc. |
|
|
|
|
Products : |
·
Defibrillator Zoll
Medical ·
Patient Handeling
System Spancer ·
Patient Monitoring ·
Syringe Pump – Skanray ·
Anesthesia Machine – Avarsala
·
Ventilator – Hamilton Medical ·
ICU Ambulance – Integrity Medical Solutions |
|
|
|
|
Agencies Held : |
·
Zoll – Foreign ·
Spencer – Foreign ·
Hamilton – Foreign ·
Skanray – India ·
ICU Ambulance – India |
|
|
|
|
Imports : |
|
|
Products : |
·
Defibrillatior ·
ICU Ventilator ·
Spencer |
|
Countries : |
·
USA ·
Switzerland ·
Italy |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days / 45 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
24 [Office=9 + Factory=15] (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank, 1-10-60/3, Suryodaya, Begumpet, Hyderabad, Andhra Pradesh, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Rs. 20.000
Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Sister Concern : |
Name: Integrity
Medical Solutions Address: 1-8-449/4/3, Pattigadda Begumpet, Secunderdad, Andhra Pradesh, India Line of
Business: ICU Ambulance |
CAPITAL STRUCTURE
As on: 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 1.697 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 1.697 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.697 |
1.051 |
0.718 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.697 |
1.051 |
0.718 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.816 |
0.340 |
0.000 |
|
|
2] Unsecured Loans |
0.982 |
0.000 |
0.300 |
|
|
TOTAL BORROWING |
1.798 |
0.340 |
0.300 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.495 |
1.391 |
1.018 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.565 |
0.526 |
0.337 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.343
|
1.452 |
0.486 |
|
|
Sundry Debtors |
0.971
|
1.519 |
0.645 |
|
|
Cash & Bank Balances |
0.354
|
0.245 |
0.872 |
|
|
Other Current Assets |
0.000
|
0.008 |
0.000 |
|
|
Loans & Advances |
0.521
|
0.121 |
0.016 |
|
Total
Current Assets |
5.189
|
3.345 |
2.019 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.732
|
0.197 |
0.000 |
|
|
Other Current Liabilities |
1.394
|
2.163 |
0.050 |
|
|
Provisions |
0.133
|
0.120 |
1.288 |
|
Total
Current Liabilities |
3.259
|
2.480 |
1.338 |
|
|
Net Current Assets |
1.930
|
0.865 |
0.681 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.495 |
1.391 |
1.018 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15.971 |
13.221 |
2.947 |
|
|
|
Other Income |
0.995 |
0.643 |
0.056 |
|
|
|
TOTAL |
16.966 |
13.864 |
3.003 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
11.072 |
10.186 |
2.160 |
|
|
|
Customs duty and Clearing Charges |
1.965 |
1.026 |
0.129 |
|
|
|
Salary |
1.178 |
1.045 |
0.241 |
|
|
|
Books and Periodicals |
0.055 |
0.000 |
0.001 |
|
|
|
Business promotion |
0.192 |
0.118 |
0.000 |
|
|
|
Office Maintenance |
0.065 |
0.051 |
0.015 |
|
|
|
Staff welfare expenses |
0.141 |
0.152 |
0.003 |
|
|
|
Travelling expenses |
0.531 |
0.266 |
0.012 |
|
|
|
Vehicle running and maintenances |
0.155 |
0.101 |
0.034 |
|
|
|
Other Expenses |
0.508 |
0.289 |
0.070 |
|
|
|
TOTAL |
15.862 |
13.234 |
2.665 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.104 |
0.630 |
0.338 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.183 |
0.101 |
0.057 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.921 |
0.529 |
0.281 |
|
The above information has been parted by Mr. Muralidhar
Naidu
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.42 |
3.81 |
9.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.77 |
4.00 |
9.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.63 |
13.67 |
11.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54 |
0.50 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
1.06 |
0.32 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.35 |
1.51 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
TRADE REFERENCES
·
Apollo Hospitals
·
Care Hospitals
·
Yashoda Hospitals
·
ITC Bhadrachalam
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. 62.31 |
|
|
1 |
Rs. 101.78 |
|
Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
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 |
|
DEFAULTER |
|
|
|
--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.