1. Summary Information
|
|
|
Country |
|
|
Company Name |
CENTENIAL
SURGICAL SUTURE LIMITED |
Principal Name 1 |
Mr. Vijay Kalidas Majrekar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Bhushan Suhas Limaye |
|
|
|
Registration # |
11-089759 |
|
Street Address |
Plot No.F-29, MIDC, Murbad, Thane – 421401, |
||
|
Established Date |
20.06.1995 |
SIC Code |
-- |
|
Telephone# |
91-22-24115677 91-2524-222905/ 222906 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-24164424 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Surgical Sutures |
|
|
# of employees |
Not Available |
Product Name 2 |
Medical Devices |
|
Paid up capital |
Rs.54,243,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 0.44% Bodies corporate - 0.40% Directors or relatives of Directors - 40.26% Other top fifty shareholders - 42.32% Others - 16.58% |
Banking |
Canara Bank |
|
Public Limited Corp. |
YES |
Business Period |
19 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2014 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
266,643,000 |
Current Liabilities |
157,217,000 |
|
Inventories |
186,984,000 |
Long-term Liabilities |
113,219,000 |
|
Fixed Assets |
47,244,000 |
Other Liabilities |
37,861,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
308,297,000 |
|
Invest& other Assets |
10,000 |
Retained Earnings |
138,341,000 |
|
|
|
Net Worth |
192,584,000 |
|
Total Assets |
500,881,000 |
Total Liab. & Equity |
500,881,000 |
|
Total Assets (Previous Year) |
477,392,000 |
|
|
|
P/L Statement as of |
31.03.2014 |
(Unit: Indian Rs.) |
|
|
Sales |
510,047,000 |
Net Profit |
17,912,000 |
|
Sales(Previous yr) |
540,874,000 |
Net Profit(Prev.yr) |
15,737,000 |
MIRA
INFORM REPORT
|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CENTENIAL SURGICAL SUTURE LIMITED (w.e.f. 16.02.1996) |
|
|
|
|
Formerly Known
As : |
CENTINEIAL SURGICAL SUTURE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.F-29, MIDC, Murbad, Thane – 421401, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089759 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.54.243
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1995PTC089759 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC06848C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of surgical sutures and medical devices. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 770000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
reported as 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real
estate outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
27.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
27.02.2013 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Not Divulged |
|
Designation : |
Admin Department |
|
Contact No.: |
91-22-24115677 |
|
Date : |
03.09.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No.F-29, MIDC, Murbad, Thane – 421401, Maharashtra, India. |
|
Tel. No.: |
91-22-24115677 91-2524-222905/ 222906 |
|
Fax No.: |
91-22-24164424 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory 2 : |
Village Dhavale,
Ulhasnagar, Thane, Maharashtra, India |
|
|
|
|
Factory 3 : |
B-17, MIDC,
Murbad, Thane – 42401, Maharashtra, India |
DIRECTORS
As on: 18.09.2012
|
Name : |
Mr. Vijay Kalidas Majrekar |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Chairman and Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.511-B, 601-602, Omkar CHS, R. P. Masani Road, Matunga, Mumbai
– 400014, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.01.1961 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2008 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00804808 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bhushan Suhas Limaye |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Non Executive Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
C-33, Omkar CHS, Balgovindas Road, Mahim, Mumbai – 400016,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.12.1960 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.03.2002 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00804930 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Devraj Thaniya Poojary |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Executive Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
D/703, Prafulla Paradise, Khadakpada, Kalyan, Thane – 421306,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.07.1968 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2011 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02041726 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sunil Chimanlal Modi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Non Executive Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
8, Bharat Villa, Church Road, Violle Parle (West), Mumbai – 400056,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.01.1964 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.09.2010 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03103966 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. J. B. Shetty |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Independent Non Executive Director |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.05.2013 |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Sapna Mhatre |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
J. Rathod |
|
Designation : |
Chief Operating Officer |
|
|
|
|
COMMITTEES OF BOARD |
|
|
|
|
|
Audit Committee
(w.e.f. 24.04.2013) |
|
|
|
|
|
Name : |
Mr. S. C. Modi |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vijay Majrekar |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. B. S. Limaye |
|
Designation : |
Member |
|
|
|
|
REMUNERATION
COMMITTEE (w.e.f. 09.05.2013) |
|
|
|
|
|
Name : |
Mr. B. S. Limaye |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vijay Majrekar |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. S. C. Modi |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. J.B. Shetty |
|
Designation : |
Member |
|
|
|
|
SHARE TRANSFERS AND
SHAREHOLDERS/ INVESTORS GRIEVANCE COMMITTEE (w.e.f. 24.04.2013) |
|
|
|
|
|
Name : |
Mr. B. S. Limaye |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Vijay Majrekar |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. S. C. Modi |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. H. Iyappan |
|
Designation : |
Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 18.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 18.09.2012
|
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 |
0.44 |
|
Bodies corporate |
0.40 |
|
Directors or relatives of Directors |
40.26 |
|
Other top fifty shareholders |
42.32 |
|
Others |
16.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of surgical sutures and medical devices. |
|
|
|
|
Imports : |
|
|
Products : |
Surgical Sutures |
|
Countries : |
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Customer: |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
20 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Canara Bank, Dr. Visveswaraya Buildings,
Karnataka Sangh, T H K Marg, Matunga (West), Mumbai - 400016, Maharashtra,
India · HDFC Bank Limited · State Bank of India · Gopinath Patil Parsik Janata Sahakari Bank Limited |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipul N. Shah and
Associates Chartered
Accountants |
|
Address : |
6, Samir Complex, S. M. Road, Ambawadi, Ahmedabad – 3800015, Gujarat,
India |
|
PAN No.: |
ADBPS7241P |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.54.243 Millions
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7200200 |
Equity Shares |
Rs.10/- each |
Rs.72.002
Millions |
|
|
|
|
|
Paid up capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3648300 |
Equity Shares |
Rs.10/- each |
Rs.36.483
Millions |
|
3551900 |
Forfeited Shares |
Rs.10/- each |
Rs.17.760
Millions |
|
|
Total |
|
Rs.54.243 Millions |
Reconciliation of
number of equity shares outstanding
|
Particulars |
As on 31.03.2013 |
|
|
|
No. of Shares |
Rs. in Millions |
|
Shares outstanding at the beginning of the year |
3648300 |
36.483 |
|
Shares outstanding at the end of the year |
3648300 |
36.483 |
The Company has only one class of shares referred to as equity shares having face value of Rs.10/-. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of Equity
Shares held by each shareholder holding more than 5%
|
Particulars |
As on 31.03.2013 |
|
|
|
No. of Shares |
% of Holding |
|
Anuradha Kashikar |
694200 |
19.03 |
|
Vijay Majrekar |
576500 |
15.80 |
|
Geeta R. Kingar |
0 |
0.00 |
|
Shyam Ramchand Kingar |
567700 |
15.56 |
|
Devendra K. Kothari |
210200 |
5.76 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
54.243 |
54.243 |
54.243 |
|
(b) Reserves & Surplus |
138.341 |
120.430 |
104.694 |
|
(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) |
192.584 |
174.673 |
158.937 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.006 |
23.006 |
25.006 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
(0.027) |
0.000 |
|
(c) Other long term
liabilities |
16.646 |
16.324 |
11.624 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
38.652 |
39.303 |
36.630 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
91.213 |
103.525 |
79.107 |
|
(b) Trade payables |
102.043 |
100.882 |
79.253 |
|
(c) Other current liabilities |
38.528 |
30.348 |
46.784 |
|
(d) Short-term provisions |
37.861 |
28.661 |
28.667 |
|
Total
Current Liabilities (4) |
269.645 |
263.416 |
233.811 |
|
|
|
|
|
|
TOTAL |
500.881 |
477.392 |
429.378 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
47.244 |
46.901 |
47.574 |
|
(ii) Intangible Assets |
|
0.267 |
0.000 |
|
(iii) Capital work-in-progress |
|
1.923 |
1.923 |
|
(iv) Intangible assets under
development |
|
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 |
1.321 |
1.421 |
1.271 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
48.575 |
50.522 |
50.778 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
186.984 |
152.323 |
169.274 |
|
(c) Trade receivables |
188.610 |
189.190 |
153.520 |
|
(d) Cash and cash equivalents |
11.524 |
31.398 |
8.012 |
|
(e) Short-term loans and
advances |
65.145 |
53.915 |
47.765 |
|
(f) Other current assets |
0.043 |
0.044 |
0.029 |
|
Total
Current Assets |
452.306 |
426.870 |
378.600 |
|
|
|
|
|
|
TOTAL |
500.881 |
477.392 |
429.378 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
510.047 |
540.874 |
524.798 |
|
|
|
Other Income |
0.439 |
0.195 |
0.190 |
|
|
|
TOTAL |
510.486 |
541.069 |
524.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
270.099 |
250.277 |
243.778 |
|
|
|
Purchase of Stock-in-Trade |
1.213 |
0.326 |
6.677 |
|
|
|
Changes in Inventories of Finished /
Work-in-Progress/Stock-in-Trade |
(41.981) |
3.758 |
(3.270) |
|
|
|
Employee Benefits Expenses |
68.945 |
64.892 |
57.188 |
|
|
|
Other Expenses |
167.300 |
174.107 |
176.357 |
|
|
|
TOTAL |
465.576 |
493.360 |
480.730 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
44.910 |
47.709 |
44.258 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11.959 |
16.036 |
13.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.951 |
31.673 |
31.052 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.880 |
5.758 |
5.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
27.071 |
25.915 |
25.176 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.159 |
10.178 |
10.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
17.912 |
15.737 |
15.089 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
120.430 |
104.694 |
89.605 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
138.342 |
120.430 |
104.694 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value Export |
NA |
11.492 |
9.315 |
|
|
TOTAL EARNINGS |
NA |
11.492 |
9.315 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
94.479 |
91.299 |
|
|
TOTAL IMPORTS |
NA |
94.479 |
91.299 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.91 |
4.31 |
4.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.51 |
2.91
|
2.87
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.31 |
4.79
|
4.79
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.40 |
5.45
|
5.89
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.15
|
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59 |
0.72
|
0.66
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68 |
1.62
|
1.62
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
54.243 |
54.243 |
54.243 |
|
Reserves & Surplus |
104.694 |
120.430 |
138.341 |
|
Net
worth |
158.937 |
174.673 |
192.584 |
|
|
|
|
|
|
long-term borrowings |
25.006 |
23.006 |
22.006 |
|
Short term borrowings |
79.107 |
103.525 |
91.213 |
|
Total
borrowings |
104.113 |
126.531 |
113.219 |
|
Debt/Equity
ratio |
0.655 |
0.724 |
0.588 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
524.798 |
540.874 |
510.047 |
|
|
|
3.063 |
(5.699) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
524.798 |
540.874 |
510.047 |
|
Profit |
15.089 |
15.737 |
17.912 |
|
|
2.88% |
2.91% |
3.51% |
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 |
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 |
No |
|
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] |
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 |
Yes |
UNSECURED LOAN
(Rs. in Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Other Loans and Advances |
NA |
23.006 |
|
Total |
NA |
23.006 |
FINANCIAL PERFORMANCE
The year witnessed a lot of challenges with growing competition and changes in surgeons/ customers preference. Further details of operations are given in the management discussion and analysis report, which forms part of this report. During the Financial Year 2013 - 2014, the Company will continue to focus on driving in its established key growth brands. The Company has always placed primacy on Quality for growth and believes it will continue to stand them in good stead.
CENTENIAL's leadership team has demonstrated its capability and strategic intent, and will continue to explore other growth opportunities in alignment with their vision. They are confident about the future and grateful for the goodwill and support of their Surgeons. They take this opportunity to thank all the Surgeons for their continuing support. I am also indebted to the Highly Educated Members of the CENTENIAL Board for their guidance and to the Honest, Loyal and Committed Employees.
Their demanding standards of governance have set us apart, even more, now, and in the future. Clearly, investors and employees will appreciate and learn to value differentiate between organisations like theirs that are ethical, honest, well-governed and transparent, and others, for whom governance is a platitude. This is a huge strength, built over time into their genetic coding. It will always stand us in good stead. They are focusing on building strong administrative and support functions and have concurrently invested in systems for financial accounting, accurate billing, objective legal system, strong human resources and excellent Quality. They have a brand name which stands for Quality, Reliability, Commitment and Integrity.
OPERATIONS
The Company registered sales of Rs.540.874 Millions in the financial year ended March 31, 2013, clocking a growth of 3.06% over the corresponding 12 months period ended March 31, 2012. The results for the year show net profit after tax of Rs.15.737 Millions as compared to the net profit after tax of Rs.15.089 Millions. The earnings per share increased from Rs.4.14 in 2011 ~ 2012 to Rs.4.31 in the year.
More than 95% of the current workforce has grown with us, with some clocking more than ten years. They realise the value of Education, Loyalty, Honesty, Success, Commitment, Sincerity, Hard Work required to sustain this success. They have been an important part of the journey of creating value leadership. They think their holy spirit and their resolve are something, which cannot be replicated. This indeed is a defining value.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
BASIS OF PREPARATION
OF FINANCIAL STATEMENTS
The financial statements have been prepared in compliance with the requirements of the Companies Act, 1956, and Indian Generally Accepted Accounting Principles (Indian GAAP). In the adoption of the accounting standards there are no material departures from the prescribed Indian accounting standards. The Company's management believes that it has been objective & prudent in making estimates and judgements relating to the financial statements & believes that these financial statements are a fair representation of the Company's operations and profits for the year.
Overview
The Company registered sales of Rs. 540.874 Millions in the financial year ended March 31, 2013, clocking a growth of 3.06% over the corresponding 12 months period ended March 31, 2012. The results for the year show net profit after tax of Rs. 15.737 Millions as compared to the net profit after tax of Rs. 15.089 Millions. The earnings per share increased from Rs. 4.14 in 2011 - 2012 to Rs. 4.31 in the year. Many established surgeons have tried their products and started using them continuously and the trends are encouraging. The technical functioning of their plant as indicated by the above-mentioned results, the capacity utilization’s was quite satisfactory and production levels were selectively improved as required. In summary the sharp focus on demand generation for key products, procurement & manufacturing efficiencies, tight control on expenses have been enhanced for the current financial year.
Outlook
During the current financial year there has been an slight improvement in the market conditions resulting in an increase in dispatches and satisfactory sales price realisations. It is expected that this trend will continue. Further slow growth rate of the Indian economy has been projected and the Company expects its growth to be slow.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80003748 |
05/10/2010 * |
130,000,000.00 |
Canara Bank |
Dr. Visveswaraya Buildings, Karnataka Sangh,, T H |
A97300339 |
* Date of charge modification
FIXED
ASSETS
· Freehold Land
· Leasehold Land
· Building
· Offices
· Plant and Machinery
· Electrical Installation
· Laboratory Equipments
· Furniture & Fixtures
· Office Equipments
· Vehicles
· Air Conditioner
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.60.44 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.