MIRA INFORM REPORT
|
Report No. : |
312397/ 312213/ 312215 |
|
Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORTIS HEALTHCARE LIMITED (w.e.f. 06.03.2012) |
|
|
|
|
Formerly Known
As : |
FORTIS HEALTHCARE (INDIA) LIMITED (w.e.f. 07.03.2011) FORTIS HEALTHCARE LIMITED |
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|
|
Registered
Office : |
Escorts Heart Institute and Research Centre, Okhla Road, New Delhi –
110025 |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.02.1996 |
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|
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Com. Reg. No.: |
55-076704 |
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Capital Investment
/ Paid-up Capital : |
Rs. 4627.863 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L85110DL1996PLC076704 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF0987E |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is primarily engaged in the business of healthcare
services. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having fine track. The fundamentals of the company are decent. Financial position of the
company is strong and healthy. The rating also takes into consideration experience and resourceful promoters
support to the company and established brand name in the healthcare sector. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
23.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
23.04.2015 |
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 DECLINED
Management non-cooperative (91-172-4692222)
LOCATIONS
|
Registered Office : |
Escorts Heart Institute and Research Centre, Okhla Road, New Delhi –
110025, India |
|
Tel. No.: |
91-11-47135000, 26825000 Emergency: 91-11-26825002 / 26825003 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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Corporate Office : |
Tower A, Unitech Business Park, Block - F, South City 1, Sector - 41, Gurgaon - 122001, Haryana, India |
|
Tel. No.: |
91-124-4921021 / 4921184 / 4921071 / 4921033 / 4926168 |
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Fax No.: |
91-124-4921041 |
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E-Mail : |
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Branch Office 1 : |
Sector 62, Phase - VIII, Mohali - 160062, Punjab, India |
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Tel. No.: |
91-172-4692222 / 5021222 Emergency: 91-172-4692200 Appointments: 91-712-4692250 |
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Location : |
Owned |
|
|
|
|
Branch Office 2 : |
Also Located At
|
DIRECTORS
As on 31.03.2014
|
Name : |
Joji Sekhon Gill |
|
Designation : |
Non-Executive Directors |
|
Address : |
605A, Court Greens Laburnum, Sushant Lok – 1, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
05.06.1965 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05310881 |
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|
Name : |
Mr. Pradeep Ratilal Raniga |
|
Designation : |
Non-Executive Directors |
|
Address : |
32, Kyora Parade Balwyn North Victoria 003104 |
|
Date of Birth/Age : |
06.06.1957 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03291083 |
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|
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|
Name : |
Mr. Harpal Singh |
|
Designation : |
Non-Executive Directors |
|
Address : |
B-10, Anand Niketan, New Delhi – 110021, India |
|
Date of Birth/Age : |
11.09.1949 |
|
Date of Appointment : |
12.08.1999 |
|
DIN No.: |
00078224 |
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|
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|
Name : |
Mr. Shivinder Mohan Singh |
|
Designation : |
Executive Chairman |
|
Address : |
1, South End lane, New Delhi – 110011, India |
|
Date of Birth/Age : |
21.07.1975 |
|
Date of Appointment : |
29.06.2000 |
|
DIN No.: |
00042910 |
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|
|
|
Name : |
Mr. Malvinder Mohan Singh |
|
Designation : |
Executive Chairman |
|
Address : |
Vistats 26, Maulsari Avenue, Westend Green Farms, Rajokri, New Delhi –
110038, India |
|
Date of Birth/Age : |
27.11.1972 |
|
Date of Appointment : |
12.08.1999 |
|
DIN No.: |
00042981 |
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|
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|
Name : |
Mr. Gurcharan Das |
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Designation : |
Non-Executive Directors |
|
Address : |
124, Jor Bagh, New Delhi – 110003, India |
|
Date of Birth/Age : |
03.10.1943 |
|
Date of Appointment : |
29.06.2000 |
|
DIN No.: |
00032103 |
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|
|
|
Name : |
Mr. Preetinder Singh Joshi |
|
Designation : |
Non-Executive Directors |
|
Address : |
Maharaj Sawan Singh Charitable Hospital, Beas, Amritsar – 143201,
Punjab, India |
|
Date of Birth/Age : |
17.11.1947 |
|
Date of Appointment : |
28.07.1998 |
|
DIN No.: |
00109974 |
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|
|
|
Name : |
Mr. Brian William Tempest |
|
Designation : |
Non-Executive Directors |
|
Address : |
South Park Farm, Grayswood Road, Haslemere, Surrey, GU27 2DJ, UK |
|
Date of Birth/Age : |
13.06.1947 |
|
Date of Appointment : |
02.08.2011 |
|
DIN No.: |
00101235 |
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|
|
Name : |
Mr. Sunil Naraindas Godhwani |
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Designation : |
Non-Executive Directors |
|
Address : |
A-2, Inayat Farm, Fatehpur Bri, P.O. Mehrauli, New Delhi – 110030,
India |
|
Date of Birth/Age : |
10.12.1960 |
|
Date of Appointment : |
26.02.2009 |
|
DIN No.: |
00174831 |
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|
|
|
Name : |
Ms. Lynette Joy Hepburn Brown |
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Designation : |
Non-Executive Directors |
KEY EXECUTIVES
|
Name : |
Mr. Aditya Vij |
|
Designation : |
Chief Executive Officer |
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|
Name : |
Mr. Sandeep Puri |
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Designation : |
Group Chief Financial Officer |
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|
Name : |
Mr. Rahul Ranjan |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
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||
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
103419 |
0.02 |
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|
330050529 |
71.32 |
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|
330153948 |
71.34 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
330153948 |
71.34 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
2212 |
0.00 |
|
|
1434269 |
0.31 |
|
|
41617789 |
8.99 |
|
|
43054270 |
9.30 |
|
|
|
|
|
|
25634907 |
5.54 |
|
|
|
|
|
|
21427693 |
4.63 |
|
|
10837214 |
2.34 |
|
|
31680882 |
6.85 |
|
|
13750 |
0.00 |
|
|
71500 |
0.02 |
|
|
1203352 |
0.26 |
|
|
190688 |
0.04 |
|
|
29531398 |
6.38 |
|
|
670194 |
0.14 |
|
|
89580696 |
19.36 |
|
Total Public shareholding (B) |
132634966 |
28.66 |
|
Total (A)+(B) |
462788914 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
462788914 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of healthcare
services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Financial Institution : |
L&T Infrastructure Finance Company Limited, Mount
Poonamallee Road, Manapakkam, Chennai - 600089, Tamilnadu, India |
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf view, Corporate Tower B, Sector 42, Sector Road, Gurgaon - 122002, Haryana, India |
|
PAN No.: |
AALFS0506L |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Ultimate Holding
Company
: |
RHC Holding Private Limited (Holding Company of Fortis Healthcare Holdings Private Limited) |
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|
|
|
Holding Company : |
Fortis Healthcare Holdings Private Limited (‘FHHPL’) |
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Subsidiary Companies
- direct or indirect through investment in subsidiaries |
|
|
|
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|
Fellow Subsidiary
(with whom transactions have
been taken place) |
Religare Wellness Limited |
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Associates |
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Joint Ventures : |
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Enterprises owned
or significantly influenced by key management personnel or their relatives : |
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CAPITAL STRUCTURE
As on 24.09.2014
Authorised Capital : Rs.6780.000 Million
Issued, Subscribed & Paid-up Capital : Rs.4627.889
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.10/- each |
Rs.6000.000 Million |
|
200 |
Class A (Non-Cumulative Redeemable Preference Shares) |
Rs.100000/- each |
Rs.20.000 Million |
|
11498800 |
Class B (Non-Cumulative Redeemable Preference Shares) |
Rs.10/- each |
Rs.114.988 Million |
|
64501154 |
(Previous Year 64,501,154) Class ‘C’ Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.645.012 Million |
|
|
Total |
|
Rs.6780.000 Million
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
462786314 |
Equity Shares |
Rs.10/- each |
Rs.4627.863 Million |
|
|
|
|
Rs.4627.863 Million |
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 |
4627.863 |
4095.337 |
4095.061 |
|
(b)
Reserves & Surplus |
32467.952 |
27955.186 |
27950.956 |
|
(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) |
37095.815 |
32050.523 |
32046.017 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
12516.617 |
6974.333 |
6797.823 |
|
(b)
Deferred tax liabilities (Net) |
0.000 |
3.184 |
0.000 |
|
(c)
Other long term liabilities |
334.294 |
152.702 |
764.156 |
|
(d)
long-term provisions |
80.880 |
70.411 |
46.612 |
|
Total
Non-current Liabilities (3) |
12931.791 |
7200.630 |
7608.591 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
3005.649 |
4226.605 |
|
(b)
Trade payables |
510.282 |
473.431 |
463.761 |
|
(c)
Other current liabilities |
965.529 |
1975.832 |
588.222 |
|
(d)
Short-term provisions |
91.869 |
76.576 |
41.727 |
|
Total
Current Liabilities (4) |
1567.680 |
5531.488 |
5320.315 |
|
|
|
|
|
|
TOTAL |
51595.286 |
44782.641 |
44974.923 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1393.198 |
1145.452 |
832.172 |
|
(ii)
Intangible Assets |
68.293 |
30.424 |
13.032 |
|
(iii)
Capital work-in-progress |
1213.522 |
729.423 |
486.509 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
21026.846 |
21026.846 |
23100.817 |
|
(c)
Deferred tax assets (net) |
1.965 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5932.152 |
8387.524 |
5033.193 |
|
(e)
Other Non-current assets |
237.915 |
1742.819 |
166.497 |
|
Total
Non-Current Assets |
29873.891 |
33062.488 |
29632.220 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
6924.634 |
3031.971 |
0.000 |
|
(b)
Inventories |
47.160 |
48.486 |
42.529 |
|
(c)
Trade receivables |
872.916 |
930.503 |
624.950 |
|
(d)
Cash and cash equivalents |
262.934 |
1085.796 |
148.650 |
|
(e) Short-term
loans and advances |
11636.434 |
6503.488 |
13925.343 |
|
(f)
Other current assets |
1977.317 |
119.909 |
601.231 |
|
Total
Current Assets |
21721.395 |
11720.153 |
15342.703 |
|
|
|
|
|
|
TOTAL |
51595.286 |
44782.641 |
44974.923 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3689.078 |
3529.721 |
2812.797 |
|
|
|
Other Income |
2296.377 |
1905.693 |
1270.424 |
|
|
|
TOTAL (A) |
5985.455 |
5435.414 |
4083.221 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of medical consumables and drugs |
1082.224 |
1018.706 |
795.171 |
|
|
|
Decrease/ (increase) in inventories of medical consumables and drugs |
1.113 |
(5.139) |
(9.556) |
|
|
|
Employees benefits expense |
1360.394 |
1013.314 |
707.350 |
|
|
|
Other expenses |
2049.621 |
1514.446 |
1272.155 |
|
|
|
Exceptional item |
0.000 |
0.000 |
(1846.237) |
|
|
|
TOTAL (B) |
4493.352 |
3541.327 |
918.883 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1492.103 |
1894.087 |
3164.338 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
907.836 |
1338.647 |
1029.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
584.267 |
555.440 |
2134.998 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
169.968 |
234.683 |
121.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
414.299 |
320.757 |
2013.854 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
174.355 |
148.269 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
239.944 |
172.488 |
2013.854 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Capital Goods |
302.652 |
58.770 |
44.153 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.53 |
0.43 |
4.97 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
Jun 2014 (1st Quarter) |
Sep 2014 (2nd Quarter) |
Dec 2014 (3rd Quarter) |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
1511.200 |
1575.200 |
1476.800 |
|
Total Expenditure |
1925.800 |
1913.700 |
1889.700 |
|
PBIDT (Excl OI) |
(414.600) |
(338.500) |
(412.900) |
|
Other Income |
562.200 |
562.600 |
552.200 |
|
Operating Profit |
147.600 |
224.100 |
139.300 |
|
Interest |
205.800 |
206.800 |
207.300 |
|
Exceptional Items |
26.500 |
0.000 |
0.000 |
|
PBDT |
(31.700) |
17.300 |
(68.000) |
|
Depreciation |
89.900 |
66.200 |
53.200 |
|
Profit Before Tax |
(121.600) |
(48.900) |
(121.200) |
|
Tax |
0.000 |
02.000 |
(21.700) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(121.600) |
(50.900) |
(99.500) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
(121.600) |
(50.900) |
(99.500) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.50 |
4.89 |
71.60 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
40.45 |
53.66 |
112.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.41 |
1.39 |
9.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34 |
0.31 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
13.86 |
2.12 |
2.88 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4095.061 |
4095.337 |
4627.863 |
|
Reserves & Surplus |
27950.956 |
27955.186 |
32467.952 |
|
Net
worth |
32046.017 |
32050.523 |
37095.815 |
|
|
|
|
|
|
long-term borrowings |
6797.823 |
6974.333 |
12516.617 |
|
Short term borrowings |
4226.605 |
3005.649 |
0.000 |
|
Total
borrowings |
11024.428 |
9979.982 |
12516.617 |
|
Debt/Equity
ratio |
0.344 |
0.311 |
0.337 |
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) |
|
Sales |
2812.797 |
3529.721 |
3689.078 |
|
|
|
25.488 |
4.515 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2812.797 |
3529.721 |
3689.078 |
|
Profit |
2013.854 |
172.488 |
239.944 |
|
|
71.60% |
4.89% |
6.50% |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The registered office of the company has been shifted from
Piccadily House, 275/276 (4th Floor), Captain Gaur Marg Srinivas
Puri, Delhi – 110065,
India
to present address w.e.f. 23.01.2008
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
5% Foreign currency convertible bonds |
6005.936 |
5428.500 |
|
4.66%+LIBOR Foreign currency convertible bonds |
1801.780 |
0.000 |
|
4.86%+LIBOR Foreign currency convertible bonds |
3303.264 |
0.000 |
|
Deferred payment liabilities |
58.137 |
0.000 |
|
Total |
11169.117 |
5428.500 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10533315 |
23/09/2014 |
1,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
Birla Towers, 25, Barakhamba Road,, New Delhi, Delhi - 110001, INDIA |
C35013036 |
|
2 |
10327322 |
20/01/2015 * |
1,000,000,000.00 |
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED |
MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, Tamil Nadu - 600089,
INDIA |
C41323544 |
|
3 |
10173314 |
05/02/2014 * |
500,000,000.00 |
Standard Chartered Bank |
CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B97909105 |
* Date of charge modification
NATURE OF OPERATIONS
Subject was incorporated in the year 1996 and commenced its hospital operations in the year 2001. As part of its business activities, the Company holds interests in its subsidiaries, joint ventures and associate companies through which it manages and operates a network of multi-specialty hospitals. The Company’s equity shares are listed on both Bombay Stock Exchange and National Stock Exchange. The Company’s foreign currency convertible bonds are listed on the Euro MTF market of the Luxembourg Stock Exchange and 4.66%+ LIBOR foreign currency convertible bonds are listed on the Singapore Exchange Securities Trading Limited (the “SGX-ST”).
OPERATING RESULTS AND
PROFITS
For the Financial Year 2013-14, the Company recorded audited consolidated revenues from continuing operations of Rs. 36,657 Million, a growth of 20% over the previous year revenues of Rs. 30,423 Million. However, including the revenue from the discontinued operations i.e. Dental Corporation Holding Limited, Quality Healthcare and Hoan My of Rs. 10,945 Million, overall revenues for the company stood at Rs. 47,593 Million compared to Rs. 60,516 Million in Financial Year 2012-13. Consolidated total income (including other income and exceptional item) from the continuing operations for the financial year 2013-14 was at Rs. 38,353 Million compared to Rs. 41,893 Million in the previous year. Operating profit for the year stood at Rs. 2,124 Million. compared to Rs. 13,694 Million. in the previous year. The Net Profit after Tax but before Profits attributable to Minority Interest and Share in the profits of Associates stood at Rs. (2,710) Million as against Rs. 5,045 Million for the corresponding previous year. The Net Profit after Tax but before Profits attributable to Minority Interest and Share in the profits of Associates from discontinued operations stood at Rs. 3,877 Million as against Rs. 598 Million for the corresponding previous year. The Net profit for the year (including both continuing and discontinuing operations) was Rs. 1,225 Million against Rs. 4,999 Million in the previous year.
The Company has continued to strive towards improving the value proposition it offers to the patients and general public and during the year under review, has made further strides in implementing its strategic growth and development initiatives acrossvarious facets of the Organization. Expanding and deepening the footprint of network hospitals has helped us to touch increasing number of lives during the year.
The Company is a leading, healthcare delivery provider in Asia. As of 31 March 2014, the healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Singapore, Dubai, Mauritius and Sri Lanka with 66 healthcare facilities (including projects under development), over 10,000 potential beds. In addition, the company’s Indian diagnostics business has a presence in over 450 cities and towns, with an established strength of 281 laboratories including 141 self-operated laboratories, 31 laboratories located in Fortis healthcare facilities, 21 wellness centres and 3 international laboratories. It also has over 5,800 collection points, which includes 48 collection centers that are owned and 48 collection centres at locations outside India. The Company is driven by the vision of becoming a global leader in the integrated healthcare delivery space and the larger purpose of saving and enriching lives through clinical excellence.
OUTLOOK
The Indian Healthcare delivery segment provides a robust growth opportunity for private healthcare organisations given the increase in lifestyle related diseases, demographic changes and rising awareness levels. A continuing lack of adequate healthcare infrastructure and limited access to quality healthcare delivery services will result in private players playing a larger role in bridging the demand supply gap in the industry. Healthcare Companies will continue to explore various options and business models in order to expand their presence both from a geographic and a therapeutic segment perspective. Given the capital intensive nature of the business, organisations will endeavor to look actively at various funding options including private equity and other avenues of capital availability. While shortage of healthcare professional will remain a challenge, the companies that have an established brand name will continue to attract and retain the best available talent pool. With the public healthcare system being inadequate to address the population’s healthcare needs, PPP models would have to gain momentum in order to garner higher private participation and provide the much needed access and quality healthcare services to the population.
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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.63.20 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
|
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.