MIRA INFORM REPORT
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Report No. : |
302015 |
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Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
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Name : |
KONICA MINOLTA HEALTHCARE INDIA PRIVATE LIMITED (w.e.f.21.06.2010) |
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Formerly Known
As : |
MEDISERVE HEALTHCARE PRIVATE LIMITED |
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Registered
Office : |
Office No. 515, "C" Wing, 215 - Atrium Centre, Andheri-Kurla Road, Chakala, Andheri (East), Mumbai – 400059, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.02.2010 |
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Com. Reg. No.: |
11-200438 |
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Capital Investment
/ Paid-up Capital : |
Rs.50.000 Millions |
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CIN No.: [Company Identification
No.] |
U33110MH2010PTC200438 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK20322B |
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PAN No.: [Permanent Account No.] |
AAGCM3977M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Distributor of Healthcare Products and Healthcare Equipments. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 moderate track record. The company has been successful in wiping of its accumulated losses of
the previous years. However, reserves level of the company is low. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
NOT AVAILABLE
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.
LOCATIONS
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Registered Office : |
Office No. 515, "C" Wing, 215 - Atrium Centre, Andheri-Kurla Road, Chakala, Andheri (East), Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-61916969 |
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Fax No.: |
91-22-61916996 |
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E-Mail : |
DIRECTORS
As on 08.08.2014
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Name : |
Koji Yamada |
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Designation : |
Managing director |
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Address : |
525-13, Kamoshida-Cho, Aoba-Ku, Yokohama Shi, Na, Japan |
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Date of Birth/Age : |
10.10.1969 |
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Date of Appointment : |
01.08.2013 |
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DIN No.: |
06630679 |
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Name : |
Mr. Nikunj Kanti Gada |
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Designation : |
Nominee Director |
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Address : |
302, Parshwa Villa, S.L. Road, Mulund (West), Mumbai - 400080, Maharashtra,
India |
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Date of Birth/Age : |
02.03.1978 |
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Date of Appointment : |
25.02.2010 |
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PAN No.: |
ADMPG3535B |
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DIN No.: |
01227558 |
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Other Directorship:
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Name : |
Katsutoshi Unozawa |
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Designation : |
Nominee Director |
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Address : |
2-30-18, Inokashira, Mitaka, Tokyo, Na, Japan |
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Date of Birth/Age : |
18.12.1958 |
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Date of Appointment : |
23.07.2013 |
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DIN No.: |
06627747 |
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MAJOR SHAREHOLDERS
As on 08.08.2014
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Names of Shareholders |
No. of Shares |
% of Holding |
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E M Pax Technology Private Limited, India |
2450000 |
49.00 |
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Konica Minolta Inc., Japan |
2550000 |
51.00 |
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Total |
5000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 08.08.2014
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
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Bodies corporate |
49.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Distributor of Healthcare Products and Healthcare Equipments. |
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Products : |
Healthcare Products and Healthcare Equipments |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
ASA and Associates Chartered Accountants |
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Address : |
68, Filmcenter, C-34, 3rd Floor, J Dadaji Road, Tardeo, Mumbai – 400034, Maharashtra, India |
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PAN No.: |
AAAFA4690A |
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Memberships : |
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Collaborators : |
-- |
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Holding
Company : |
Konica Minolta Inc., Japan |
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Enterprise having Common Directorship : |
Medion Healthcare Private Limited CIN No.: U51507MH1998PTC116429 |
CAPITAL STRUCTURE
As on 08.08.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
50.000 |
50.000 |
50.000 |
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(b) Reserves & Surplus |
5.383 |
(3.479) |
(15.404) |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
55.383 |
46.521 |
34.596 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.220 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term
provisions |
11.031 |
2.918 |
0.366 |
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Total Non-current
Liabilities (3) |
11.251 |
2.918 |
0.366 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
56.271 |
57.911 |
0.000 |
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(b) Trade
payables |
382.501 |
248.326 |
185.033 |
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(c) Other
current liabilities |
39.169 |
24.339 |
19.043 |
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(d) Short-term
provisions |
10.433 |
6.839 |
11.851 |
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Total Current
Liabilities (4) |
488.374 |
337.415 |
215.927 |
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TOTAL |
555.008 |
386.854 |
250.889 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
9.883 |
5.030 |
4.779 |
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(ii)
Intangible Assets |
0.405 |
0.255 |
0.173 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
6.801 |
1.703 |
0.568 |
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(d) Long-term Loan and Advances |
11.027 |
8.456 |
5.016 |
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(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Assets |
28.116 |
15.444 |
10.536 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
242.924 |
176.149 |
103.694 |
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(c) Trade
receivables |
242.942 |
155.373 |
118.910 |
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(d) Cash
and cash equivalents |
18.762 |
20.317 |
10.057 |
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(e)
Short-term loans and advances |
22.264 |
19.571 |
7.692 |
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(f) Other
current assets |
0.000 |
0.000 |
0.000 |
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Total Current
Assets |
526.892 |
371.410 |
240.353 |
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TOTAL |
555.008 |
386.854 |
250.889 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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TOTAL INCOME |
938.002 |
767.561 |
552.509 |
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NET OPERATING
PROFIT/(LOSS) |
11.874 |
16.158 |
(14.565) |
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PROFIT/(LOSS)
AFTER TAX |
8.862 |
11.925 |
(14.089) |
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EARNINGS IN
FOREIGN CURRENCY |
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Reimbursement of expenses towards stall, exhibition etc. |
3.385 |
4.673 |
3.401 |
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Commission |
0.460 |
1.020 |
7.364 |
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TOTAL EARNINGS |
3.845 |
5.693 |
10.765 |
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IMPORTS |
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Finished Goods and spare parts |
682.804 |
569.327 |
488.980 |
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TOTAL IMPORTS |
682.804 |
569.327 |
488.980 |
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Earnings /
(Loss) Per Share (Rs.) |
1.77 |
2.38 |
(2.82) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Debt Equity Ratio (Total Debt /Networth) |
|
1.02 |
1.24 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.10 |
1.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
(15.404) |
(3.479) |
5.383 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
34.596 |
46.521 |
55.383 |
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Long Term borrowings |
0.000 |
0.000 |
0.220 |
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Short Term borrowings |
0.000 |
57.911 |
56.271 |
|
Total
borrowings |
0.000 |
57.911 |
56.491 |
|
Debt/Equity
ratio |
0.000 |
1.245 |
1.020 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
552.509 |
767.561 |
938.002 |
|
|
|
38.923 |
22.206 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Sales
|
552.509 |
767.561 |
938.002 |
|
Total Income |
(14.089) |
11.925 |
8.862 |
|
|
(2.55%) |
1.55% |
0.94% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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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 |
No |
|
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 |
No |
GENERAL
INFORMATION
The company was incorporated on February 25, 2010 and was formed as a result of joint venture agreement on May 7, 2010 between Konica Minolta Medical and Graphic Inc (merged to Konica Minolta, Inc.) and E M PAX Technology Private Limited. The change in name of parent company is result of reorganization at Konica Minolta Group, Japan w.e.f. 01st April 2013. The Company acts as a trader and distributor of healthcare products and healthcare equipments.
FINANCIAL
RESULT/OPERATIONS
During the year, the Company earned total income of Rs.938.002 Millions (Previous Year: Rs.767.561 Millions. Net operating profit for the year was Rs.11.874 Millions (Previous Year: Net operating profit Rs.16.158 Millions). Profit after tax provisions has been Rs.8.862 Millions (Previous Year: Profit after tax provisions Rs.11.925 Millions.
NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.38 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.