MIRA INFORM REPORT
|
Report No. : |
354950 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEDICA HOSPITALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
127 Mukundapur, E.M. Bypass, Kolkata – 700099, West Bengal |
|
Tel. No.: |
91-33-66520000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
12.01.2007 |
|
|
|
|
Com. Reg. No.: |
21-112554 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 439.792
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200WB2007PTC112554 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM0338M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in business of Rendering Medical and Healthcare Services. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 988000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject belongs to the Medica Group. It was incorporated in January
2007 and is a 100% subsidiary of Medica Synergy Private Limited (MSPL). It
has satisfactory track record. Management of the company has failed to file financial for the year
2015 with the government department. The ratings takes into consideration sound financial risk profile of
the company marked by decent networth base and its comfortable debt level in
the year under 2014. However, the company has recorded some accumulated
losses in the year under consideration. However, the ratings also factors in various strategic collaboration
of the company to develop hospitals. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
April 09, 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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Navin Kumar Joshi |
|
Designation : |
Assistant General Manager – Finance |
|
Contact No.: |
91-33-66520000 |
|
Date : |
14.12.2015 |
LOCATIONS
|
Registered Office : |
127 Mukundapur, E.M. Bypass, Kolkata – 700099, West Bengal, India |
|
Tel. No.: |
91-33-66520000 |
|
Fax No.: |
91-33-66520171 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 11.09.2014
|
Name : |
Mrs. Aruna Nair |
|
Designation : |
Director |
|
Address : |
4B D2 Isle Tower, Hill and Park, Kolkata – 700094, West Bengal, India |
|
Date of Birth/Age : |
03.11.1960 |
|
Date of Appointment : |
12.01.2007 |
|
PAN No.: |
AAHPN9690G |
|
DIN No.: |
00715813 |
|
|
|
|
Name : |
Ayanabh Debgupta |
|
Designation : |
Director |
|
Address : |
Flat H1, Duplex Building, Sherwood Estate, Kolkata – 700103, West
Bengal, India |
|
Date of Birth/Age : |
29.08.1977 |
|
Date of Appointment : |
24.06.2010 |
|
PAN No.: |
AEQPA3791L |
|
DIN No.: |
01496280 |
|
|
|
|
Name : |
Mr. Samrat Ganguly |
|
Designation : |
Director |
|
Address : |
1111, 25th Street, NW Apartment 720, Was Hington DC 20037 |
|
Date of Birth/Age : |
16.03.1973 |
|
Date of Appointment : |
23.06.2011 |
|
DIN No.: |
01554590 |
|
|
|
|
Name : |
Mrs. Komal Dashora Dutta |
|
Designation : |
Director |
|
Address : |
UPL 070603, 2052 Chawk Garia, Kolkata – 700094, West Bengal, India |
|
Date of Birth/Age : |
28.06.1976 |
|
Date of Appointment : |
27.07.2012 |
|
PAN No.: |
AGMPD6871E |
|
DIN No.: |
05202837 |
KEY EXECUTIVES
|
Name : |
Mr. Navin Kumar Joshi |
|
Designation : |
Assistant General Manager – Finance |
|
|
|
|
Name : |
Mr. Ankit Jain |
|
Designation : |
Secretary |
|
Address : |
11/4, Rishi Bankim Chandra Road, Rishra, Hooghly – 712248, West
Bengal, India |
|
Date of Birth/Age : |
13.06.1986 |
|
Date of Appointment : |
30.06.2009 |
|
PAN No.: |
AIBPJ8179L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Medica Synergie Private Limited, India |
|
53069128 |
|
Medica Synergie Private Limited, India – Dr. Alok Roy (Beneficiary
Holder on behalf of MSPL) |
|
100 |
|
|
|
|
|
Total |
|
53069228 |
AS ON 19.03.2015
|
Names of Allottee |
|
No. of Shares |
|
Medica Synergie Private Limited, India |
|
6647500 |
|
|
|
|
|
Total |
|
6647500 |
AS ON 11.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of Rendering Medical and Healthcare Services. [Registered Activity] |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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||||||||||||||||||||||
|
Bankers : |
· State Bank of India - Lead Bank Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, Delhi, India · Yes Bank Limited 56A, Hemanta Basu Sarani, Kolkata - 700001, West Bengal, India ·
Axis Bank Limited ·
State Bank of Patiala ·
State Bank of Travankore ·
HDFC Bank Limited
|
||||||||||||||||||||||
|
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· India Infoline Finance Limited 12A-10, 13th Floor, Parinee Crescenzo, G Block, C-38 & 39, Bandra Kurla Complex, Bandra [East], Mumbai - 400051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B S S R and Company Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower-B, DLF Cyber City, Phase -II, Gurgaon – 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB4734C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Medica Synergie Private Limited [U74140WB2003PTC121076] |
|
|
|
|
Ultimate Holding
Company : |
Quadria Capital G P, (with effect from 19 December 2013) |
|
|
|
|
Enterprises having
significant influence over the
Company : |
· IDBI Trusteeship Services Limited (India Advantage Fund -V) (Upto 19 December 2013) · I-VEN Medicare India Private Limited (Upto 19 December 2013) |
|
|
|
|
Fellow subsidiaries
: |
· Medica Pharmacy Private Limited (Upto 3 December 2013) [U85195WB2007PTC112572] · North Bengal Clinic Private Limited [U85110WB1993PTC060388] |
|
|
|
|
Jointly controlled
operations : |
· Maa Lalita Medica Superspecialty Hospital and Research Centre · R.C. Agarwal Memorial Hospital & Research Centre · Kantilal Gandhi Memorial Hospital |
CAPITAL STRUCTURE
AFTER 11.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59,716,728 |
Equity Shares |
Rs. 10/- each |
Rs. 597.167
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 450.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43,979,190 |
Equity Shares |
Rs. 10/- each |
Rs. 439.792
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 |
530.692 |
439.792 |
380.700 |
|
(b) Reserves & Surplus |
(184.852) |
(265.737) |
(134.301) |
|
(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) |
345.840 |
174.055 |
246.399 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
144.236 |
271.591 |
327.358 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
12.874 |
11.346 |
8.497 |
|
(d)
long-term provisions |
14.478 |
10.444 |
4.644 |
|
Total
Non-current Liabilities (3) |
171.588 |
293.381 |
340.499 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
151.771 |
60.141 |
33.169 |
|
(b)
Trade payables |
366.642 |
303.922 |
136.266 |
|
(c)
Other current liabilities |
290.456 |
259.959 |
314.841 |
|
(d)
Short-term provisions |
1.744 |
1.181 |
0.457 |
|
Total
Current Liabilities (4) |
810.613 |
625.203 |
484.733 |
|
|
|
|
|
|
TOTAL |
1328.041 |
1092.639 |
1071.631 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
860.940 |
823.819 |
800.108 |
|
(ii)
Intangible Assets |
4.311 |
6.096 |
8.037 |
|
(iii)
Capital work-in-progress |
100.317 |
4.652 |
27.025 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
172.421 |
90.753 |
89.042 |
|
(e)
Other Non-current assets |
2.015 |
0.811 |
7.336 |
|
Total
Non-Current Assets |
1140.004 |
926.131 |
931.548 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
35.282 |
31.398 |
22.963 |
|
(c)
Trade receivables |
113.116 |
82.108 |
75.682 |
|
(d)
Cash and cash equivalents |
12.951 |
16.649 |
20.279 |
|
(e)
Short-term loans and advances |
13.805 |
26.972 |
2.833 |
|
(f)
Other current assets |
12.883 |
9.381 |
18.326 |
|
Total
Current Assets |
188.037 |
166.508 |
140.083 |
|
|
|
|
|
|
TOTAL |
1328.041 |
1092.639 |
1071.631 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
INCOME FROM
OPERATIONS |
1691.325 |
1178.278 |
746.641 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
101.242 |
(80.258) |
(33.624) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
64.477 |
69.490 |
86.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
36.765 |
(149.748) |
(120.356) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
113.398 |
99.872 |
87.544 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(76.633) |
(249.620) |
(207.900) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
24.283 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(100.916) |
(249.620) |
(207.900) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
6.967 |
3.705 |
0.628 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.29) |
(6.53) |
(7.23) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
119.831 |
95.738 |
88.397 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
113.397 |
6.473 |
(143.316) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.97) |
(21.19) |
(27.84) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.99 |
(6.81) |
(4.50) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.24) |
(22.94) |
(19.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22) |
(1.43) |
(0.84) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.20 |
2.46 |
1.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.23 |
0.27 |
0.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
380.700 |
439.792 |
530.692 |
|
Reserves & Surplus |
(134.301) |
(265.737) |
(184.852) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
246.399 |
174.055 |
345.840 |
|
|
|
|
|
|
Long-term borrowings |
327.358 |
271.591 |
144.236 |
|
Short term borrowings |
33.169 |
60.141 |
151.771 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
88.397 |
95.738 |
119.831 |
|
Total
borrowings |
448.924 |
427.470 |
415.838 |
|
Debt/Equity ratio |
1.822 |
2.456 |
1.202 |
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 |
746.641 |
1178.278 |
1691.325 |
|
|
|
57.811 |
43.542 |
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 |
746.641 |
1178.278 |
1691.325 |
|
Profit/ (Loss) |
(207.900) |
(249.620) |
(100.916) |
|
|
-27.84% |
-21.19% |
-5.97% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10522139 |
27/04/2015 * |
950,000,000.00 |
YES BANK LIMITED |
56A , HEMANTA BASU
SARANI, KOLKATA, WEST BENGAL - 700001, INDIA |
C53365102 |
|
2 |
10516517 |
31/07/2014 |
3,187,500.00 |
INDIA INFOLINE
FINANCE LIMITED |
12A-10, 13TH
FLOOR, PARINEE CRESCENZO, G BLOCK, C-38&39, BANDRA KURLA COMPLEX,
BANDRA- EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
C17791112 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits |
0.000 |
32.725 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
114.643 |
10.200 |
|
|
|
|
|
Total |
114.643 |
42.925 |
BACKGROUND:
Medica Hospitals Private Limited ('the Company' or 'the hospital') was incorporated on 12 January 2007 as private limited company under Companies Act, 1956. The said hospital has been set up on land taken on "Build Operate Transfer" (BOT) basis from Eastern India Healthcare Foundation ('trust') for a period of 30 years, which may be renewed with mutual consent on the terms acceptable to both the parties.. The Company is primarily engaged in business of rendering medical and health care services. The Company operates under the brand name "Medica Superspecialty Hospital".
BUSINESS PERFORMANCE:
During the year, the
company had a turnover of Rs 1691.300 Million, an increase of almost 44% as
compared to last year. For the first time the company had a positive EBIDTA.
The flagship hospital of the company- Medica Superspecialty Hospital has
emerged as one of the leaders in the Hospital Industry in Eastern India within
4 years of its operation. The Company has successfully treated over 15500
In-Patients and over 169000 Out-patients during the year. In view of the
several marketing and brand building initiatives undertaken, the footfall at
the hospital is expected to improve further during the current year. Also in
view of several steps being taken by the company to reduce cost and enhance
revenue, the margins are likely to improve significantly during the year.
Kantilal Gandhi Memorial
Hospital, Jamshedpur, under operation and management of the company, underwent a
major up gradation during the year. Many new specialties were introduced, state
of the art equipments were installed and the capacity was ramped upto 140 beds.
The company has also
entered into a lease agreement with Bhagwan Mahavir Hospital and Research
Centre at Ranchi for setting up a 260 bedded Superspecialty hospital. The same
has commenced operation in June-14 in a phased manner and has received good
response. It is soon expected to be recognized as one of the preferred
healthcare destination in Ranchi and nearby areas.
The company has also
entered into agreements with Tata Steel Limited for setting up two hospitals in
Odisha.
During the year, the
Company’s operation at Maa Lalita Hospital and Research Centre Private Limited,
Deogarh was suspended and recommencement of such operation is doubtful. The
Company has taken necessary legal steps to recover its losses.
The Company had also during
the year entered into a Memorandum of Understanding with Paritran Trust,
Deogarh to complete its semi-constructed Medical College and Hospital and
operate it thereafter. Subsequently, a dispute arose between the Trust and the
Company.
The Company has taken
necessary legal steps to recover its losses on account of advances made to the
Trust.
The
work on the company’s land at Asansol for building a secondary care hospital is
likely to commence in the current year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
|
|
|
|
(i) Corporate guarantee given to banks for loans taken by Medica Pharmacy Private Limited * |
27.764 |
32.013 |
|
(ii) Corporate guarantee given to India Infoline Private Limited for loans taken by Eastern India Healthcare Foundation |
21.020 |
0.000 |
|
(iii) Claims not acknowledged as debts (in respect of compensation demanded by the patients/ their relative for negligence). The cases are pending with Consumer Dispute Redressal Commission # |
18.051 |
8.044 |
|
(iv) Other claims against the company not acknowledged as debts |
3.800 |
0.000 |
|
|
|
|
|
Total |
70.635 |
40.057 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.99 |
|
|
1 |
Rs. 101.78 |
|
Euro |
1 |
Rs. 73.47 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
41 |
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.