MIRA INFORM REPORT
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Report No. : |
312903 |
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Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HEALTHCARE GLOBAL ENTERPRISES LIMITED (w.e.f. 05.07.2006) PANDA CURIE CANCER HOSPITAL UNIT OF HEALTHCARE GLOBAL ENTERPRISES
LIMITED |
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Formerly Known
As : |
HEALTHCARE GLOBAL ENTERPRISES PRIVATE LIMITED (w.e.f.10.11.2005) CURIE CENTRE OF ONCOLOGY PRIVATE LIMITED |
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Registered
Office : |
HCG Tower, No.8, P. Kalinga Rao Road, Sampangi Rama Nagar, Bangalore –
560027, Karnataka |
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Tel. No.: |
91-80-40206000/ 33669999 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.03.1998 |
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Com. Reg. No.: |
08-023489 |
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Capital
Investment / Paid-up Capital : |
Rs.682.451 Million |
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CIN No.: [Company Identification
No.] |
U15200KA1998PLC023489 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC8412H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in setting
up and managing cancer hospitals, cancer centers and medical diagnostic
services including scientific testing and consultancy services in the
pharmaceutical and medical sector. |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The company is continuously incurring losses from its operational
activities. However, the rating takes into consideration HCG’s long standing
presence and extensive experience of the promoters in the field of oncology
marked by fair general financial position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ICRA |
|
Rating |
Term Loan limits: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
February, 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
MANAGEMENT NON CO-OPERATIVE (TEL No. 91-80-40206000)
LOCATIONS
|
Registered Office : |
HCG Tower, No.8, P. Kalinga Rao Road, Sampangi Rama Nagar, Bangalore –
560027, Karnataka, India |
|
Tel. No.: |
91-80-40206000/ 33669999 |
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Fax No.: |
91-80-22485962 |
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E-Mail : |
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Website : |
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Unit : |
HCG Pharma #10, 2nd Floor, Pallavi Complex, Mission Road, Bangalore – 560027,
Karnataka, India |
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Branches: |
Located At:
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DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Sudhakar Rao |
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Designation : |
Additional Director |
|
Address : |
Apartment D Ist Floor Spring Leaf Apartment, No 6 Brunton Cross Road, Bengaluru-560025, Karnataka, India |
|
Date of Appointment : |
25.02.2015 |
|
DIN No.: |
00267211 |
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Name : |
Mr. Gangadhara Ganapati |
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Designation : |
Director |
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Address : |
T-84-B, 29th Cross Street, Besant Nagar, Chennai – 600090,
Tamilnadu, India |
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Date of Birth/Age : |
01.04.1966 |
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Date of Appointment : |
21.12.2005 |
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DIN No.: |
00489200 |
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Name : |
Mr. Shanker Annaswamy |
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Designation : |
Additional Director |
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Address : |
Villa No A-265,East Drive Prestige Zone, Whitefield Main Road, Whitefield, Bangalore - 560066, Karnataka, India |
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Date of Appointment : |
25.02.2015 |
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DIN No.: |
00449634 |
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Name : |
Mr. Rajesh Singhal |
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Designation : |
Nominee Director |
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Address : |
E402, Satellite Gardens 1, Film City Road, Goregaon (East), Mumbai-400063, Maharashtra, India |
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Date of Birth/Age : |
10.05.1971 |
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Date of Appointment : |
25.09.2013 |
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DIN No.: |
01415174 |
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Name : |
Mr. Basavalinga Ajaikumar Sadashivaiah |
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Designation : |
Whole Time Director |
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Address : |
No.850, Park House, Mirza Road, Nazarbad, Mysore – 570010, Karnataka,
India |
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Date of Birth/Age : |
22.08.1951 |
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Date of Appointment : |
07.03.2000 |
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DIN No.: |
00713779 |
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PAN No.: |
ACZPA6190L |
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Name : |
Mr. Prakash Parthasarathy |
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Designation : |
Nominee Director |
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Address : |
#347, 2nd Phase, White Field Road, Adarsh Palm, Meadows, Ramagondanhalli,
Bangalore – 560066, Karnataka, India |
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Date of Birth/Age : |
04.03.1971 |
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Date of Appointment : |
23.04.2008 |
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DIN No.: |
02011709 |
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Name : |
Mr. Amit Varma |
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Designation : |
Nominee Director |
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Address : |
49-B, Aradhana Enclave, R K Puram, Sector-13, Ring Road, New Delhi –
110066, India |
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Date of Birth/Age : |
15.09.1968 |
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Date of Appointment : |
11.02.2010 |
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DIN No.: |
02241746 |
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Name : |
Mr. Jennifer Gek Choo Lee |
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Designation : |
Nominee Director |
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Address : |
206, Ocean Drive, # 05-08 Singapore 098627 Singapore |
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Date of Birth/Age : |
14.08.1952 |
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Date of Appointment : |
07.03.2013 |
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DIN No.: |
01095502 |
KEY EXECUTIVES
|
Name : |
Mr. Sunu Manuel |
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Designation : |
Company Secretary |
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Address : |
No.51/1, 5th Cross, Wilson Garden, Bangalore – 560027,
Karnataka, India |
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Date of Birth/Age : |
02.06.1978 |
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Date of Appointment : |
14.07.2006 |
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PAN No.: |
ANMPM3149B |
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Name : |
Mr. Basavalingashetty Sadashiviah Ajaikumar |
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Designation : |
Chief Executive Officer |
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Address : |
850, Park House, Mirza Road, Nazarabad, Mysore - 570010, Karnataka, India |
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Date of Appointment : |
24.06.2014 |
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PAN No.: |
ACZPA6190L |
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Name : |
Mr. Krishnan Subramanian |
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Designation : |
Chief Executive Officer |
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Address : |
Flat No. 103, # Cornwell Street, Langford Gardens, Bangalore - 560025, Karnataka, India |
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Date of Appointment : |
24.06.2014 |
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PAN No.: |
AEIPK4663H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Venture capital |
41.06 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
3.33 |
|
Bodies corporate |
17.10 |
|
Directors or relatives of Directors |
29.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
setting up and managing cancer hospitals, cancer centers and medical
diagnostic services including scientific testing and consultancy services in
the pharmaceutical and medical sector. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
HDFC Bank House, Senapati Bapat Marg, Lower Parel (west), Mumbai – 400013, Maharashtra, India
Corporate Banking Branch, Express Building, Second Floor, No.1, Queen's Road, Bangalore - 560001, Karnataka, India |
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Facilities : |
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Financial Institution : |
‘Vishwakarma’, 86-C, Topsia Road, Kolkata – 700046, West Bengal, India
130, Pandurang Budhkar Marg, Worli, Mumbai - 400018, Maharashtra, India |
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Auditors : |
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Name : |
Deloitte
Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centere,
Anchorage Ii, Richmond Road, Bangalore – 560025, Karnataka, India |
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PAN No.: |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives: |
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Other Related Parties : |
·
Healthcare Diwan Chand Imaging LLP, India |
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Subsidiaries : |
·
HCG Medi-Surge Hospitals Private Limited, India ·
HCG TVH Medical Imaging Private Limited, India ·
Healthcare Global Senthil Multi Specialty Hospitals
Private Limited, India ·
Healthcare Global Vijay Oncology Private Limited,
India ·
Malnad Hospital and Institute of Oncology Private
Limited, India ·
MIMS HCG Oncology Private Limited, India |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital: Rs.1200.000 Million
Issued Subscribed and Paid-up Capital: Rs.695.203 Million
(AS ON 31.03.2014)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Preference Shares |
Rs.10/- each |
Rs.1200.000 Million |
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Issued Capital and Subscribed and Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
68245112 |
Equity Shares |
Rs.10/- each |
Rs.682.451
Million |
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|
|
|
|
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Total |
|
Rs.682.451 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
682.451 |
668.900 |
592.717 |
|
(b) Reserves & Surplus |
1919.184 |
2233.661 |
1514.632 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
5.799 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
2607.434 |
2902.561 |
2107.349 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2214.986 |
1997.481 |
994.890 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
19.403 |
130.893 |
106.161 |
|
(d) long-term
provisions |
17.110 |
26.901 |
19.226 |
|
Total Non-current
Liabilities (3) |
2251.499 |
2155.275 |
1120.277 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
173.612 |
353.910 |
510.876 |
|
(b) Trade
payables |
616.247 |
459.744 |
306.434 |
|
(c) Other
current liabilities |
466.679 |
495.223 |
336.827 |
|
(d) Short-term
provisions |
22.739 |
2.612 |
9.440 |
|
Total Current
Liabilities (4) |
1279.277 |
1311.489 |
1163.577 |
|
|
|
|
|
|
TOTAL |
6138.210 |
6369.325 |
4391.203 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3537.626 |
3206.965 |
2854.130 |
|
(ii)
Intangible Assets |
174.131 |
190.219 |
8.595 |
|
(iii)
Capital work-in-progress |
104.121 |
11.298 |
26.734 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
800.054 |
921.601 |
313.025 |
|
(c) Deferred tax assets (net) |
0.000 |
8.592 |
14.393 |
|
(d) Long-term Loan and Advances |
544.807 |
455.065 |
321.837 |
|
(e) Other
Non-current assets |
45.984 |
42.831 |
25.858 |
|
Total Non-Current
Assets |
5206.723 |
4836.571 |
3564.572 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
603.716 |
0.861 |
|
(b)
Inventories |
107.891 |
82.442 |
59.343 |
|
(c) Trade
receivables |
511.182 |
568.339 |
407.768 |
|
(d) Cash
and cash equivalents |
147.459 |
40.424 |
138.938 |
|
(e)
Short-term loans and advances |
58.625 |
54.195 |
104.038 |
|
(f) Other
current assets |
106.330 |
183.638 |
115.683 |
|
Total
Current Assets |
931.487 |
1532.754 |
826.631 |
|
|
|
|
|
|
TOTAL |
6138.210 |
6369.325 |
4391.203 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3478.389 |
2550.892 |
2043.224 |
|
|
|
Other Income |
47.548 |
26.273 |
36.368 |
|
|
|
TOTAL (A) |
3525.937 |
2577.165 |
2079.592 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock in trade |
1195.815 |
898.198 |
707.169 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock in
trade |
(19.133) |
(23.099) |
(12.447) |
|
|
|
Employee benefit expenses |
624.384 |
399.426 |
315.431 |
|
|
|
Exceptional Item |
93.415 |
0.000 |
0.000 |
|
|
|
Other Expenses |
1524.601 |
891.068 |
701.094 |
|
|
|
TOTAL (B) |
3419.082 |
2165.593 |
1711.247 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
106.855 |
411.572 |
368.345 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
282.389 |
240.149 |
208.319 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(175.534) |
171.423 |
160.026 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
279.009 |
215.546 |
180.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
(454.543) |
(44.123) |
(20.623) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(4.928) |
5.800 |
4.508 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(449.615) |
(49.923) |
(25.131) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(6.55) |
(0.84) |
(0.45) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(12.93) |
(1.96) |
(1.23) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.07 |
16.13 |
18.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.68) |
(0.81) |
(0.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17) |
(0.02) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.92 |
0.81 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73 |
1.17 |
0.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
592.717 |
668.900 |
682.451 |
|
Reserves & Surplus |
1514.632 |
2233.661 |
1919.184 |
|
Share Application money pending allotment |
0.000 |
0.000 |
5.799 |
|
Net worth |
2107.349 |
2902.561 |
2607.434 |
|
|
|
|
|
|
long-term borrowings |
994.890 |
1997.481 |
2214.986 |
|
Short term borrowings |
510.876 |
353.910 |
173.612 |
|
Total borrowings |
1505.766 |
2351.391 |
2388.598 |
|
Debt/Equity ratio |
0.715 |
0.810 |
0.916 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations |
2043.224 |
2550.892 |
3478.389 |
|
|
|
24.846 |
36.360 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations |
2043.224 |
2550.892 |
3478.389 |
|
Profit/ Loss |
(25.131) |
(49.923) |
(449.615) |
|
|
(1.23%) |
(1.96%) |
(12.93%) |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
CORPORATE INFORMATION
Subject is engaged in setting
up and managing cancer hospitals, cancer centres and medical diagnostic
services including scientific testing and consultancy services in the
pharmaceutical and medical sector. The Company has its registered office at #8,
P. Kalinga Rao Road, Sampangi Ram Nagar, Bangalore – 560 027.
BUSINESS AND OUTLOOK:
They believe this has been a transformational year and they feel extremely gratified with the pace of growth and change. During the year, they have forayed into infertility, believing that they will be able to recreate in this specialty, what they have created in cancer care.
While their emphasis remains on growth in the domestic market, they clearly have ambitions of taking the HCG value proposition international. They will continue to explore opportunities abroad, as they pursue their ambition to become one of the best Oncology Institution in the world, while they sustain the position of being South Asia’s largest cancer care network. They are convinced that the benefits realized from such platforms are many, including access to a wider talent pool, cost savings on account of economies of scale and environment of cross-pollination in terms of learning and experience.
A culture of patient-centricity, inculcated at HCG encourages all in the team to stay focused on patient safety, clinical excellence and service excellence. Their hospitals follow well-defined quality and patient safety protocols and adhere to accepted clinical standards in patient handling and care. They are happy to inform you that their facilities in Bangalore and Ahmedabad have received NABH Accreditation, making us one of the few hospitals that are members of an elite group of quality healthcare providers. They are also proud to state that their Triesta Reference Laboratory has received accreditation from NABL and CAP. They aim to get all their hospitals NABH Accredited / NABH prepared and in the process, standardize their services across the group and strengthen their bottom line. Their unique concept of Integrative Oncology has been accredited by ESMO (European Society for Medical Oncology) making us one the first health care systems to receive this prestigious recognition. In addition, their clinicians and research scientists have been conferred with many citations and awards for their research, contribution and expertise in clinical domain.
They have been able to aggressively transform their largely hospital centric business, extending their presence to the entire healthcare delivery value chain, with a significant play in Diagnostics, Primary Healthcare, Day Care Specialty and Hospitals. With each strategic and bold decision the company has made, it has brought in unique capabilities, assimilated vast experience and today, it has positioned itself as the Fastest growing Oncology brand in South Asia.
The company also has international aspirations in terms of served patients, and with leading accreditations, is rightly placed to offer unbeatable Medical value travel propositions. They already cater to international patients, and with the economic pressures being faced by western economies, are ready to play a larger role in providing quality healthcare services at attractive cost. They are evenly poised to aggressively expand their network, establish brand leadership, and emulate a business model which generates adequate returns for the shareholders.
Today, the company is proud to state that it gives hope to over 100000 patients visiting their Centers every year, for cancer care. While it is humbling to think of the impact they make each day on the thousands of people that seek their care, knowledge of the vastly inadequate infrastructure in the oncology space in their country only adds to the burden of the responsibility they bear, as a leading cancer care provider in the country. They clearly have an integral role to play in India’s development; and a duty to deliver quality care, with a compassionate approach, in caring environment, to those that need it.
The Company’s future growth strategy is to sustain leadership in Oncology space; and continue to build focused Centers of Excellence with best technology, facilities and clinical practices. They also intend to establish their strong presence in key strategic markets; and to leverage the brand strength to become the dominant healthcare provider, by providing additional services in dominant clusters.
While they would be exploring opportunities for expansion through both Greenfield projects and acquisition of hospitals; it is imperative that they consolidate their operations, regroup their energies before moving forth with even greater speed. Therefore, they see the coming year as a year of consolidation, of knitting together the businesses and providing a backbone of shared support services. This will help to stabilize processes and usher in greater efficiencies with a net upsurge in value created.
In continuation with their strategic intent to align the Company with globally recognized best practices and trends, and to manage and mitigate the challenges of growth, they are exploring an innovative, cost effective, asset light business model that will allow us to strengthen their balance sheet and focus on what they do best. A lot has been achieved but much still needs to be accomplished. They remain resolute in their commitment to nurture excellence and have planned on building the brand, global scale, innovations and delivery platforms to capture key cost synergies and drive efficiencies. The Company continues to evaluate its portfolio of overseas businesses to ensure the right strategic fit and adequate realization of synergistic benefits.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
(Rs. In Million) |
|
|
Long Term
Borrowings |
|
|
|
Intercorporate deposits |
50.000 |
0.000 |
|
|
|
|
|
Total |
50.000 |
0.000 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10531084 |
12/08/2014 * |
75,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
C37766409 |
|
2 |
10542637 |
01/08/2014 |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C40244519 |
|
3 |
10542638 |
01/08/2014 |
120,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C40244139 |
|
4 |
10544219 |
01/08/2014 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C40252181 |
|
5 |
10420938 |
12/08/2014 * |
1,260,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
C33493339 |
|
6 |
10402839 |
07/01/2013 |
7,270,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA - 700046, WEST BENGAL, INDIA |
B68022375 |
|
7 |
10402828 |
18/12/2012 |
48,125,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA - 700046, WEST BENGAL, INDIA |
B68019728 |
|
8 |
10400083 |
04/12/2012 |
1,625,000.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B66929183 |
|
9 |
10375044 |
03/08/2012 |
11,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA - 700046, WEST BENGAL, INDIA |
B57495319 |
|
10 |
10375042 |
27/07/2012 |
1,174,500.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B57494031 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
·
Leasehold Improvements
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.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
- |
|
--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 |
|
42 |
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.