MIRA
INFORM REPORT
|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCHILLER HEALTHCARE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
111, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-111307 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.689 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33110MH1997PTC111307 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS22847G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS5091B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cardiac, Critical Care and Spirometry
Systems. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
Long term rating = BB+ |
|
Rating Explanation |
Inadequate degree of safety and high credit risk. |
|
Date |
May 19, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
May 19, 2014 |
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 DENIED BY
|
Name : |
Mr. Vijay |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-61523333 |
|
Date : |
12.09.2014 |
LOCATIONS
|
Registered Office : |
111, Currimjee Building, Mahatma Gandhi Road, Fort, Mumbai
– 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22674119/ 28263520/ 0269/ 66920520/ 61523333 |
|
Fax No.: |
91-22-22673898/ 25263525/ 3258/ 28263525/ 28263520/ 29209142 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Advance House, 2nd Floor, Off Andheri-Kurla Road, Marol,
Andheri (East), Mumbai – 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-61523333/ 29209141 |
|
Fax No.: |
91-22-29209142 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
408/5-2, Ground Floor, 7th Main, 2nd Block, Jayanagar,
Bangalore – 560 011, Karnataka, India |
|
Tel. No.: |
91-80-26564045/ 4959 |
|
Fax No.: |
91-80-26564045 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
No.17, Pondy Villupuram Road, Balaji Nagar, Oulgaret, Pondicherry -
605 010, Tamilnadu, India |
|
Tel No.: |
91-413-2291160/ 2949/ 3098599 |
|
Fax No.: |
91-413-2291240 |
|
Email : |
|
|
|
|
|
Branch Office / Warehouse: |
Plot No 84 And 85, 2nd Cross, Reddiyarpalayam, Ajiz Nagar, Puducherry
– 605005. |
|
|
|
|
Branch Office : |
Located At : ·
Ahmedabad ·
Bangalore ·
Kolkata ·
Chennai ·
Cochin ·
Hyderabad ·
New Delhi ·
Pondicherry ·
Pune |
DIRECTORS
AS ON: 27.08.2013
|
Name : |
Mr. Pravin Ratilal Gandhi |
|
Designation : |
Vice Chairman |
|
Address : |
19 Fulchand Nivas, 5th Floor, Chowpatty Sea Face, Mumbai –
400007, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1944 |
|
Date of Appointment : |
15.10.1997 |
|
DIN No.: |
00694153 |
|
|
|
|
Name : |
Mr. Dominik Doppler |
|
Designation : |
Director |
|
Address : |
Brueoelstrasse 66, CH -6415, Arth, Switzerland |
|
Date of Birth/Age : |
16.10.1968 |
|
Date of Appointment : |
29.05.2001 |
|
DIN No.: |
01587640 |
|
|
|
|
Name : |
Mr. Alfred Eugen Schiller |
|
Designation : |
Director |
|
Address : |
Plot No. 112, Sion-Koliwada Road, Sion (East), Mumbai - 400022,
Maharashtra, India |
|
Date of Birth/Age : |
08.04.1943 |
|
Date of Appointment : |
26.04.1998 |
|
DIN No.: |
01642021 |
|
|
|
|
Name : |
Mr. Vikram Dhirajlal Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 6, Shangri la, 27-A, Carmichael Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
26.08.1959 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AAIPS0291D |
|
DIN No.: |
00137309 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Dalvi |
|
Designation : |
Commercial manager |
|
Name : |
Mr. Vijay |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 27.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vikram Dhirajlal Sanghvi |
|
2028 |
|
Schiller AG., Switzerland |
|
253445 |
|
Pravin R. Gandhi, Vikram D. Sanghvi |
|
2534 |
|
Nandita P. Gandhi and Pravin R. Gandhi |
|
4056 |
|
Radhika P. Gandhi and Pravin R. Gandhi |
|
19153 |
|
Kunal P. Gandhi and Pravin R. Gandhi |
|
19152 |
|
Sarla D. Sanghvi and Vikram D. Sanghvi |
|
6880 |
|
Pravin R. Gandhi and Nandita P. Gandhi |
|
20366 |
|
Amla D. Sanghvi and Sarla D. Sanghvi |
|
1 |
|
Neeta V. Sanghvi and Vikram D. Sanghvi |
|
2 |
|
Aditi V. Sanghvi and Neeta V. Sanghvi |
|
1 |
|
Neha V. Sanghvi and Neeta V. Sanghvi |
|
1 |
|
Nayana T. Currim bhoy and Vikram D. Sanghvi |
|
2 |
|
Vikram D. Sanghvi and Neeta V. Sanghvi |
|
53806 |
|
Yashraj Sanghvi and Charmi Y Sanghvi |
|
47549 |
|
Neha Sanghvi and Vikram Sanghvi |
|
1 |
|
Anuradha Sanghvi and Yashraj Sanghvi |
|
405 |
|
Priya Sanghvi and Yashraj Sanghvi |
|
244 |
|
Nirupama Sanghvi and Yashraj Sanghvi |
|
405 |
|
Vikram Sanghvi and Neha Sanghvi |
|
2 |
|
Amla Sanghvi and Vikram Sanghvi |
|
2 |
|
Jayshree K Gandhi, Bansri M Bux and Janaki V Patel |
|
48831 |
|
Bansri M Bux, Munawar H Bux |
|
6948 |
|
Janaki V Patel, Vikas C Patel |
|
6948 |
|
Priya J Madhavdas, Yashraj G Sanghvi |
|
162 |
|
Yashraj G Sanghvi, Nirupama G Sanghvi |
|
13962 |
|
Vikram Sanghvi – Partner Holding on behalf of R Ratilal and Company, India |
|
4 |
|
|
|
|
|
Total |
|
506890 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 27.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Other top fifty |
|
50.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cardiac, Critical Care and Spirometry Systems. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
700 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Bank of India, Mumbai Main Branch, BOI Building, Ground Floor , 70/80, M G Road, Fort, Mumbai - 400023, Maharashtra, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · State Bank of India, Marol Branch |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. G. Ved and Company Chartered Accountants |
|
Address : |
209 Sumer Kendra, 2nd Floor, Behind Mahindra Towers, Pandurang, Budhkar Marg Worli, Mumbai – 400018, Maharashtra, India |
|
PAN No.: |
AAFPK2187H |
|
|
|
|
Associates : |
· Schiller AG · R Ratilal and Company · Schiller Medical France · Schiller Asia Pacific · Schiller Latin America · Schiller D.O.O. |
CAPITAL STRUCTURE
AS ON: 27.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
506890 |
Equity Shares |
Rs.100/- each |
Rs.50.689 Millions |
|
368110 |
Unclassified Shares |
Rs.100/- each |
Rs.36.811 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.87.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
506890 |
Equity Shares |
Rs.100/- each |
Rs.50.689
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.689 |
50.689 |
|
(b) Reserves & Surplus |
|
124.744 |
104.459 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
175.433 |
155.148 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
55.500 |
64.500 |
|
(b) Deferred tax liabilities
(Net) |
|
4.268 |
4.403 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.015 |
0.682 |
|
Total
Non-current Liabilities (3) |
|
60.783 |
69.585 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
296.458 |
165.491 |
|
(b) Trade payables |
|
159.423 |
68.695 |
|
(c) Other current liabilities |
|
49.266 |
31.303 |
|
(d) Short-term provisions |
|
53.176 |
28.721 |
|
Total
Current Liabilities (4) |
|
558.323 |
294.210 |
|
|
|
|
|
|
TOTAL |
|
794.539 |
518.943 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
120.446 |
124.361 |
|
(ii) Intangible Assets |
|
2.146 |
2.339 |
|
(iii) Capital work-in-progress |
|
0.750 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
15.611 |
7.425 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
138.953 |
134.125 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
216.378 |
145.077 |
|
(c) Trade receivables |
|
366.467 |
205.314 |
|
(d) Cash and cash equivalents |
|
47.149 |
9.927 |
|
(e) Short-term loans and
advances |
|
20.853 |
16.399 |
|
(f) Other current assets |
|
4.739 |
8.101 |
|
Total
Current Assets |
|
655.586 |
384.818 |
|
|
|
|
|
|
TOTAL |
|
794.539 |
518.943 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
50.689 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
98.847 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
149.536 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
183.054 |
|
|
2] Unsecured Loans |
|
|
7.500 |
|
|
TOTAL BORROWING |
|
|
190.554 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.444 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
342.534 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
130.624 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
134.270
|
|
|
Sundry Debtors |
|
|
168.054
|
|
|
Cash & Bank Balances |
|
|
8.302
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
32.540
|
|
Total
Current Assets |
|
|
343.166
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
73.985
|
|
|
Other Current Liabilities |
|
|
37.430
|
|
|
Provisions |
|
|
19.841
|
|
Total
Current Liabilities |
|
|
131.256
|
|
|
Net Current Assets |
|
|
211.910
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
342.534 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
863.214 |
552.064 |
598.318 |
|
|
|
Other Income |
2.717 |
3.322 |
2.156 |
|
|
|
TOTAL |
865.931 |
555.386 |
600.474 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
786.438 |
509.326 |
533.131 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
79.493 |
46.060 |
67.343 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES / INTEREST |
39.523 |
28.718 |
19.193 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
39.970 |
17.342 |
48.150 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.727 |
7.633 |
7.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
31.243 |
9.709 |
40.756 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.365 |
3.507 |
13.705 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
20.878 |
6.202 |
27.051 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend and Tax on Dividend |
0.593 |
0.589 |
0.548 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
90.417 |
13.690 |
17.044 |
|
|
|
Commission Earnings |
10.404 |
11.307 |
2.211 |
|
|
TOTAL EARNINGS |
100.821 |
24.997 |
19.255 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41.12 |
12.24 |
53.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.41 |
1.12 |
4.50
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.62 |
1.76 |
6.81
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.94 |
1.87 |
8.60
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.06 |
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.01 |
1.48 |
1.27
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.31 |
2.61
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT/EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
50.689 |
50.689 |
|
Reserves & Surplus |
|
104.459 |
124.744 |
|
Net
worth |
|
155.148 |
175.433 |
|
|
|
|
|
|
long-term borrowings |
|
64.500 |
55.500 |
|
Short term borrowings |
|
165.491 |
296.458 |
|
Total
borrowings |
|
229.991 |
351.958 |
|
Debt/Equity
ratio |
|
1.482 |
2.006 |
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) |
|
Revenue from operations |
598.318 |
552.064 |
863.214 |
|
|
|
(7.731) |
56.361 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Revenue from operations |
598.318 |
552.064 |
863.214 |
|
Profit After Tax |
27.051 |
6.202 |
20.878 |
|
|
4.52% |
1.12% |
2.42% |
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 |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10459411 |
25/10/2013 |
3,000,000.00 |
BANK OF INDIA |
MUMBAI MAIN
BRANCH, 70/80, M. G. ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B89210363 |
|
2 |
10238090 |
13/10/2010 * |
75,000,000.00 |
BANK OF INDIA |
MUMBAI MAIN
BRANCH, BOI BUILDING, GR FLOOR, 70/80 M. G. ROAD, FORT, MUMBAI, MAHARASHTRA -
400001, |
A97491906 |
|
3 |
90158495 |
18/01/2013 * |
85,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B68044726 |
|
4 |
90158043 |
30/10/2002 |
5,000,000.00 |
BANK OF INDIA |
MUMBAI CORPORATE
BANKING BRANCH; 4TH FLOOR, 70/80 |
- |
|
5 |
90156974 |
17/07/2014 * |
365,000,000.00 |
BANK OF INDIA |
MUMBAI MAIN
BRANCH,, 70/80, M. G. ROAD, FORT,, MU |
C14623631 |
|
6 |
90156852 |
24/09/1999 * |
15,000,000.00 |
BANK OF INDIA |
MUMBAI CORPORATE
BANKING BRANCH; 4TH FLOOR, 70/80 |
- |
* Date of charge modification
UNSECURED LOAN
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Loans and advances repayable on
demand |
73.500 |
12.100 |
|
|
|
|
|
Total |
73.500 |
12.100 |
FINANCIAL RESULTS:
The financial year
2012-13, the company has clocked the highest ever turnover of Rs.863.200
millions. This we could achieve in spite of highly volatile foreign currency
market and the unprecedented, still continuing recession in the world economy.
The company has achieved a whopping growth in income from sales and service
together of 56% as compared to previous year where we made total turnover
ofRs.552.000 millions.
The Profit before tax
worked out to Rs.31.243 millions, higher by Rs.21.534 millions, 222% growth
over 2011-12. After making provisions for income tax, tax adjustments etc., the
net profit available for appropriations (PAT) stands at Rs.20.878 millions,
which is Rs.14.676 millions higher than last year, recording 42% growth. This
increase in Profit after Tax is due to growth in the operating turnover.
However, due to an increase in direct sales to government agencies, where
working capital cycle have expanded, finance costs have gone up. Your company
has taken corrective steps to improve Working capital Cycle, as well as have
ensured full utilization of Letter of Credit / Buyers Credit limits at its
optimum level.
The company
continued the last years policy of converting large value Orders into Direct
Customers LCs.
OPERATIONS
2012-13:
The company has
performed very well during the current year while there was an overall slowdown
of world economies. During the year, the company has participated in over 615
Tenders and won approximately 15% of the total tenders participated. The result
of this is evident in the performance of the current year’s profitability. We
had at our merit orders from some very prestigious institutions, to name a few
like All India Institute of Medical Sciences, Andhra Pradesh Health and Medical
Infrastructure Development Corporation, United Nations Organisation Projects
Services, Tamil Nadu Medical Services Corporation, South Eastern Coal Fields,
Dr. B R Ambedkar Memorial Hospital, Safdarjang Hospital etc.
The company had
taken new Distributorship from Neurological to sell portable CT machines last
year. This year we have managed to achieve a vital breakthrough in selling of
niche radiology product. The product has been well received in spite of being
high-priced innovative machines for niche market. This has improved our
presence in the large corporate sector and also improved our bottom-line.
The company has
strategically planned and utilized all possible banking facilities at optimum
level and hedged foreign currency risk to minimize losses occurring due to
highly fluctuating foreign currencies in the last quarter of the year.
During the year,
the company had started receiving high export orders. The company had made
export sales of Rs. 100.800 millions. this year as against Rs. 24.900 millions.
made correspondingly last year in terms of percentage current year was 11.50%
of Gross Sales as against 4.5% last year. To manage such high volume export
orders, the company has also set up an Export Trading and Warehousing facility
at the ETWZ to maximize benefit from the export business.
They take great
pleasure in informing you that the new Unit II at Puducherry Industrial Plot
has commenced production of new Treadmill called-Colt during the current year.
The project has become operational in the current year and the products have
been graciously accepted by the Indian market.
FINANCIAL
ASSISTANCE FROM BANKS
The company has
been able to get further enhancement in the fund and non-fund based working
capital limits for its fast growing business from Bank of India as well as HDFC
Bank Limited. The Board of Directors is indeed thankful to the Banks for their
continued support.
CURRENT YEAR PLAN
AND FUTURE OUTLOOK
With the
tremendous increase in the company’s turnover, it is clear that the company
requires a much higher working capital. Accordingly, they believe that there
needs to be an increase in the share capital of the company. Directors would
come back to the members in due course of time once our requirement is
determined and a proposal is finalized.
The company is
confident of crossing the magical turnover figure of Rs.1000.000 millions in
the forthcoming year. The company would continue to focus to increase export
sale.
After the success of
India’s first indigenously developed and produced Bi-phasic defibrillator
Defigard 400 launched by the company three years back, work has already started
for development of newer version of Defigard Bi-phasic Defibrillator. This is
expected to be completed and launched by 2014-15.
The company is
also constantly on a lookout for suitable opportunities to increase its product
basket like the imaging products and the ROBOTIC surgery equipment, etc. These
initiatives would take your company to a next level.
CONTINGENT
LIABILITIES
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Capital Account not Provided for |
0.820 |
0.572 |
|
Bank Guarantee provided by company not acknowledged in books |
49.021 |
63.504 |
|
Claims against the company not acknowledged as debts |
2.930 |
2.630 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
Intangible Assets
· Computer Software
· Licenses
· Franchise
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 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.60.84 |
|
UK Pound |
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.