MIRA INFORM REPORT
|
Report No. : |
303074 |
|
Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
WIPRO GE HEALTHCARE PRIVATE LIMITED (w.e.f. 16.01.2007) |
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Formerly Known As
: |
WIPRO GE MEDICAL SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
No.4, Kadugodi, Industrial Area, Whitefield, Bangalore – 560067,
Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
14.03.1990 |
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Com. Reg. No.: |
08 - 016063 |
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Capital
Investment / Paid-up Capital : |
Rs. 105.114 Millions |
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CIN No.: [Company Identification
No.] |
U33111KA1990PTC016063 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRW00054F |
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PAN No.: [Permanent Account No.] |
AAACW1685J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Medical Equipment, it is also engaged in
providing software services and technology solutions. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘General Electric Company, General financial position of the company appears to be good.
Directors are well-experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active.
Payment terms are regular and as per commitment. The company can be considered good 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
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.
INFORMATION DENIED BY
|
Name : |
Mr. Sachin Pathak |
|
Designation : |
Branch Manager |
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Contact No.: |
91-755-2463647 |
|
Date : |
08.12.2014 |
LOCATIONS
|
Registered Office / Factory : |
No.4, Kadugodi, Industrial Area, Whitefield, |
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Tel. No.: |
91-80-28452923 |
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Fax No.: |
91-80-28452924 |
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E-Mail : |
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Website : |
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Branch Office : |
881, Solitaire Corporate Part, 167, Guru Hargovindji Marg, Andheri –
Ghatkopar Link Road, Chakala, Andheri (East) – Mumbai – 400 093, Maharashtra,
India |
|
Tel. No.: |
91-22-28393926/28393695 |
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Fax No.: |
91-22-28393702 |
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Branch Office : |
Also Located At
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DIRECTORS
As on 20.06.2014
|
Name : |
Mr. Terri Smith Bresenham |
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Designation : |
Managing Director |
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Address : |
9124, |
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Date of Birth/Age : |
16.12.1960 |
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Date of Appointment : |
14.11.2011 |
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DIN No.: |
05104069 |
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Name : |
Mr. Azim Hasham Premji |
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Designation : |
Director |
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Address : |
No.75, 133, 135/1, 136/1, |
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Date of Birth/Age : |
24.09.1945 |
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Date of Appointment : |
30.03.1990 |
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PAN No.: |
AIRPP9181G |
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DIN No.: |
00234280 |
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Name : |
Mr. Suresh Chandra Senapaty |
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Designation : |
Director |
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Address : |
301, Bridge Lavelle 1, |
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Date of Birth/Age : |
03.03.1957 |
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Date of Appointment : |
25.01.1995 |
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DIN No.: |
00018711 |
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Name : |
Mr. Pratik Kumar |
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Designation : |
Director |
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Address : |
421/A, Palm Meadows, 2, |
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Date of Birth/Age : |
23.10.1965 |
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Date of Appointment : |
02.05.2002 |
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DIN No.: |
00328453 |
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Name : |
Mr. Thomas Charles III Gentile |
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Designation : |
Director |
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Address : |
6855, |
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Date of Birth/Age : |
15.06.1964 |
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Date of Appointment : |
13.06.2011 |
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DIN No.: |
03567319 |
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Name : |
Mr. Frank Maria Schulkes |
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Designation : |
Director |
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Address : |
82, Route |
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Date of Birth/Age : |
20.12.1961 |
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Date of Appointment : |
07.03.2005 |
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DIN No.: |
00255834 |
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Name : |
Mr. Rishad Azim Premji |
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Designation : |
Director |
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Address : |
46, |
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Date of Birth/Age : |
19.01.1977 |
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Date of Appointment : |
23.09.2010 |
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DIN No.: |
02983899 |
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Name : |
Mr. Keiran Pius Murphy |
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Designation : |
Director |
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Address : |
Moat Pius Farm, Upend New Market, CB8, 9PH, |
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Date of Birth/Age : |
03.12.1967 |
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Date of Appointment : |
11.07.2011 |
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DIN No.: |
03574010 |
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Name : |
Mr. Banmali Agrawala |
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Designation : |
Director |
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Address : |
C 602, Palm Springs, Golf Course Road, Sector 54, Gurgaon-122001, Haryana,
India |
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Date of Birth/Age : |
30.04.1963 |
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Date of Appointment : |
25.04.2013 |
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DIN No.: |
00120029 |
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|
|
|
Name : |
Mr. Brian John Masterson |
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Designation : |
Additional Director |
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Address : |
W 287N3299 Woodgate Ct Pewaukee VI, USA 53072 |
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Date of Birth/Age : |
02.05.1961 |
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Date of Appointment : |
11.09.2012 |
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DIN No.: |
06753691 |
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|
|
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Name : |
Mr. Soumitra |
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Designation : |
Additional Director |
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Address : |
#L62 Diamond District Airport Road, Banglore – 560008, Karnataka,
India |
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Date of Birth/Age : |
13.04.1960 |
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Date of Appointment : |
25.03.2014 |
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DIN No.: |
02541409 |
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|
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Name : |
Mr. Aditya pande |
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Designation : |
Alternate Director |
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Address : |
F35, Richmond Park, DLF Phase IV, Gurgoan – 122002, Haryana, India s |
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Date of Birth/Age : |
17.04.1971 |
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Date of Appointment : |
27.05.2014 |
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DIN No.: |
03115010 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Pathak |
|
Designation : |
Branch Manager |
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Name : |
Poojia Radhakrishnan |
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Designation : |
Secretary |
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Address : |
B 506, 5th Floor, Sterling Sha Lom Kundalahallii TPL Main Road,
Bangalore-560037, Karnataka, India |
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Date of Birth/Age : |
07.07.1981 |
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Date of Appointment : |
01.10.2013 |
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PAN No.: |
AHEPR4243F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.06.2014
|
Names of Shareholders |
No. of Shares |
|
Wipro Enterprises Limited, India |
5150597 |
|
General Electric, USA |
5360825 |
|
GE Pacific Holdings Pte Limited, Singapore |
1 |
|
TOTAL
|
10511423 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
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 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Medical Equipment, it is also engaged in
providing software services and technology solutions. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
v The
Hong Kong and Shanghai Banking Corporation Limited, Manipal Centre, Bangalore – 560 042,
Karnataka, India v
Standard Chartered Grindlays Bank Limited, M.G.
Road, Bangalore – 560 001, Karnataka, India v Corporation Bank, Industrial Finance
Branch, v
CITI Bank N. A., Anna Salai, Madras-600002,
Tamilnadu, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Financial Institution : |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Maruthi Infotech Centre, 11-12/1, |
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Tel. No.: |
91-80-39806000 |
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Fax No.: |
91-80-39806999 |
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PAN No.: |
AADFB6889R |
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Holding and Ultimate Holding Company : |
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Subsidiaries : |
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Other Related Parties |
v Ge Medical Systems Mke Parent, USA v GE Medical Systems Global Technology Company LLC Inc., USA v GE Medical Systems Information Technology Inc, USA v Oec Medical Systems, USA v GE Medical Systems Ultrasound and Primary Care Diagnostics LLC, USA v GE Parallel Design, USA v Ambassador Medical Inc,USA v Usa Instruments Inc, USA v Datex Ohmeda Inc, USA v GE Healthcare IITS Inc. USA v Vital Signs, Inc, USA v Schleifring Medical Systems, Llc v Xpro Sistemas Limited. v GE Medical Systems Monterrey Mexico SA v GE Medical Systems S.A, France v Ge Medical Systems Accessories & Supplies Sas v Parallel Design SAS, France v Ge Healthcare Gmbh v GE Healthcare Information Technologies GMBH CO KG, Germany v GE OEC Medical Systems GMBH (formerly known as OEC Germany (Gemse) ,Germany) v Ge Healthcare Austria Gmbh & Company v Ge Medical Systems Hungary v GE Medical Systems Netherland BV, Netherlands v GE Medical Systems PET Systems AB, Sweden v Ge Healthcare Bioscience Ab v Breas Medical AB, Sweden v GE Healthcare Finland O.Y, Finland v Ge Healthcare Ireland v GE Vingmed Ultrasound A/S, Norway v GE Healthcare AS, Norway v GE Healthcare Limited, New Zealand v GE Medical Systems Turkiye Limited Sirketi, Turkey v GE Medical Systems Israel Limited, Israel v Versamed Medical Systems Limited. v GE Healthcare Japan Corporation, Japan v Medical Systems - Division Of Ge Pacific Pte Limited - Seatink v GE Healthcare Global Parts Company Inc., USA v Ge Healthcare Pte Limited (DI/US) v GE Medical Systems Trade & Development (Shanghai) Company Limited, China v GE Hangwei Medical Systems Company Limited v GE Hualun Medical Systems Company Limited, China v GE (China) Company Limited Holco, China v GE Medical Systems (China) Company Limited, China v GE Healthcare Bio-Sciences Limited, Hong Kong v GE BE Private Limited, India v Datex Ohmeda (India) Private Limited, India v Amersham Health India Private Limited v PT GE Operations, Indonesia v GE Ultrasound Korea Limited, Korea v General Electric Company- Latin America v GE China Company, Limited, China v General Electric International Inc - Branch, Malaysia v General Electric Company (GE Company Corporate Staff), USA v GE International Inc , Japan v General Electric Company (GE Corporate R&D),USA v General Electric Company (GE Corporate Crotonville Center),USA v IFO and other Corp, USA v GE India Technology Centre Private Limited, India v GE (China) Research And Development Center Company Limited, China v Corp Properties & Services Op v GE Shared Services Benelux, Netherlands v General Electric Saudi Arabia Limited v GE India Industrial Private Limited, India v GEII (General Electric International Inc), USA v GE India Exports Private Limited, India v GE Corp China Company Limited Holdco, China v GE Ultraschall Deutschland GMBH CO KG, Germany v General Electric International Inc - Branch v GE Corp It- Marketing Headquarters,USA v GE Healthcare BVBA, Belgium v General Electric International Inc - UK Branch, UK v General Electric Company (GE Corp IT - GIS),USA v General Electric Company (GE Corp IT - CIS),USA v General Electric Energy (Hangzhou) Company Limited, USA v General Electric Company (GE Corporate Staff – Audit Staff),USA v Converteam Edc Private Limited. v Ge Consumer & Industrial Sa v General Electric Company - Aviation Power By The Hour v GE Money Financial Services Limited, India v GE India Business Services Private Limited, India v GE Clinical Services Inc. v GE Healthcare Biosciences Corp v Amersham Health Inc v GE Healthcare, Canada v GE Healthcare Do Brasil Comércio E Serviços Para Equipamentos Médico-Hospitalres Limited ,Brazil v GE Sistemas Medicos De Mexico, S A De C V, Mexico v GE Healthcare Clinical Systems (Wuxi) Limited Company, China v GE Healthcare Clinical Systems S.R.L. v GE Healthcare Sverige AB, Sweden v GE Healthcare IT AB, Sweden v GE Medical Systems ,Denmark v GE Healthcare Technologies Norway AS, Norway v GE Healthcare Limited, UK v Ge Healthcare Clinical Systems, Italy v Ge Healthcare Espana S.A,Spain v GE Healthcare Clinical Systems SL, Spain v Gems Israel Functional Imaging v Ge Medical Systems, Egypt v Ge Healthcare East Med Company ,Jordan v Ge Healthcare Fze v GE Elseif , Saudi Arabia v Ge Healthcare Algerie Sarl v GE International Operations Company Inc., Hongkong v GE Medical Systems Australia PTY Limited, Australia v GE Medical Systems Hong Kong Limited, Hong Kong v GE Medical Systems Taiwan Limited, Taiwan v GE Philippines Inc, Phillipines v GE Medical Systems (Thailand) Limited, Thailand v GE Healthcare Limited, Korea v GE Healthcare Sdn Bhd, Malaysia v GE Power Controls India, India v Ge Avaition Sytems Llc, America v General Electric Company - Energy Management, USA v General Electric - GGO China v
GE Monogram Licensing International Inc, USA |
CAPITAL STRUCTURE
As on 20.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36500000 |
Equity Shares |
Rs.10/- each |
Rs. 365.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,511,423 |
Equity Shares |
Rs.10/- each |
Rs. 105.114
Millions |
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 |
105.100 |
105.100 |
105.100 |
|
(b) Reserves & Surplus |
5666.400 |
5028.000 |
5561.600 |
|
(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) |
5771.500 |
5133.100 |
5666.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
214.100 |
258.500 |
188.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1099.700 |
831.400 |
1267.600 |
|
(d) long-term
provisions |
605.700 |
473.100 |
235.600 |
|
Total Non-current
Liabilities (3) |
1919.500 |
1563.000 |
1692.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
750.000 |
1050.000 |
0.000 |
|
(b) Trade
payables |
5643.600 |
5106.700 |
3378.800 |
|
(c) Other
current liabilities |
5045.400 |
4287.400 |
3090.600 |
|
(d) Short-term
provisions |
311.100 |
412.500 |
370.000 |
|
Total Current
Liabilities (4) |
11750.100 |
10856.600 |
6839.400 |
|
|
|
|
|
|
TOTAL |
19441.100 |
17552.700 |
14198.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2533.100 |
2395.300 |
820.300 |
|
(ii)
Intangible Assets |
650.700 |
671.600 |
625.500 |
|
(iii)
Capital work-in-progress |
347.300 |
238.800 |
52.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
53.900 |
53.900 |
2866.700 |
|
(c) Deferred tax assets (net) |
164.100 |
270.800 |
185.500 |
|
(d) Long-term Loan and Advances |
2837.000 |
2450.700 |
1299.900 |
|
(e) Other
Non-current assets |
99.800 |
337.500 |
339.400 |
|
Total Non-Current
Assets |
6685.900 |
6418.600 |
6189.700 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2788.200 |
3068.400 |
2600.600 |
|
(c) Trade receivables |
5644.300 |
5103.600 |
3837.400 |
|
(d) Cash
and cash equivalents |
3558.100 |
2591.100 |
910.600 |
|
(e)
Short-term loans and advances |
339.400 |
156.600 |
442.400 |
|
(f) Other
current assets |
425.200 |
214.400 |
217.400 |
|
Total Current
Assets |
12755.200 |
11134.100 |
8008.400 |
|
|
|
|
|
|
TOTAL |
19441.100 |
17552.700 |
14198.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
34606.900 |
30223.500 |
18122.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
33051.400 |
|
|
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL (B) |
33051.400 |
29799.700 |
17731.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1555.500 |
423.800 |
390.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
262.100 |
310.900 |
161.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1293.400 |
112.900 |
229.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
563.700 |
432.400 |
173.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
729.700 |
(319.500) |
56.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
91.300 |
(119.400) |
(41.700) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
638.400 |
(200.100) |
97.900 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
638.400 |
(200.100) |
97.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
18245.200 |
14458.500 |
6520.500 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
60.73 |
(19.04) |
9.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.87 |
(1.89) |
0.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
(0.06) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.25 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.03 |
1.17 |
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 |
105.100 |
105.100 |
105.100 |
|
Reserves & Surplus |
5561.600 |
5028.000 |
5666.400 |
|
Net worth |
5666.700 |
5133.100 |
5771.500 |
|
|
|
|
|
|
long-term borrowings |
188.800 |
258.500 |
214.100 |
|
Short term borrowings |
0.000 |
1050.000 |
750.000 |
|
Total borrowings |
188.800 |
1308.500 |
964.100 |
|
Debt/Equity ratio |
0.033 |
0.255 |
0.167 |
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 |
18122.100 |
30223.500 |
34606.900 |
|
|
|
66.777 |
14.503 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
18122.100 |
30223.500 |
34606.900 |
|
Profit |
97.900 |
(200.100) |
638.400 |
|
|
0.54% |
(0.66%) |
1.84% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
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 |
No |
OPERATIONS:
The Company’s gross turnover of the Company of Rs. 34606.900 Millions, the turnover increased over the previous year, aided by growth in the Healthcare Systems largely driven by government & enterprise segments. The Company is continuing its force to drive volumes in India & neighboring countries. The company has introduced new products in the matter as per? In country for Country? Strategy.
UNSECURED LOAN
|
Particular |
Rs.
In Millions 31.03.2014 |
Rs.
In Millions 31.03.2013 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan repayable
on demand - GE India Industrial Private Limited* |
0.000 |
100.000 |
|
Inter-Corporate
deposit - GE BE Private Limited* |
750.000 |
950.000 |
|
|
|
|
|
TOTAL |
750.000 |
1050.000 |
|
NOTES SHORT TERM
BORROWINGS The Company had taken loan repayable on demand, which was carrying an interest rate ranging between 8.05% p.a. to 8.18% p.a. Represents due to related parties (refer note 2.47). The
Company has taken inter corporate deposit, which is carrying an interest rate
ranging between 8% p.a. to 9% p.a. and the same is repayable within one year
from the date of borrowing. |
||
NOTE
The registered office of the company has been shifted from
A-1, Golden Enclave,
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80044247 |
17/03/2008 * |
200,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, RALLARAM BLDG., NO. 30, |
A37098761 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
- Freehold land
- Furniture and Fixture
- Buildings
- Plant and Machinery
- Air conditioner and Office Equipment
- Computer
- Vehicle
Intangible Assets
- Computer Software
- Goodwill
PRESS LEASE:
ENSOCARE
AND WIPRO GE HEALTHCARE ENTER INTO A PUBLIC PRIVATE PARTNERSHIP WITH GOVERNMENT
OF MAHARASHTRA TO UPGRADE DISTRICT HOSPITALS
22 District Hospitals to be upgraded with advanced diagnostic imaging
facilities at an investment of about INR 150 crores; Patients to benefit from
24/7 in-house diagnostic facilities at Government fixed, affordable rates
Mumbai, May 14, 2013: Ensocare by Enso Group, a multi-billion dollar
diversified conglomerate in dynamic sectors like Oil and Gas, Infrastructure
and Real Estate and GE Healthcare today announced entering into the largest
Public Private Partnership (PPP) in the space of healthcare with Government of
Maharashtra. Public Health Department, Ensocare (previously named Uber),
Government of Maharashtra and Wipro GE Healthcare Private Limited signed this
INR 150 Crores PPP project to advance healthcare in the State of Maharashtra.
Ensocare is backing the financial investment of 150 cr; the consortium will set
up advanced diagnostic facilities at 22 Government district and women
hospitals, run operations on 24/7 hour basis and provide services at Government
recommended rate cards for the benefit of larger population.
India has one of the largest networks of public hospitals in the world.
However, healthcare system in India faces a challenge in the raising service
quality and ensuring equitable access to people while simultaneously gearing up
its capabilities to tackle the changing disease incidence profiles. This
challenge can be addressed through concerted effort both by public and private
sectors. The tri-party partnership is a reflection Enso Group and GE’s commitment
to enable better healthcare for more people and Government of Maharashtra’s
agenda of providing affordable healthcare to its population.
Speaking on the occasion, Suresh Shetty, Health Minister said
“Government of Maharashtra is committed to providing better and affordable
healthcare to its people. Today, they are on to a first of its kind, large
scale modernization of district hospitals with latest diagnostic technologies.
By working together with partners like Ensocare who are the funding arm and GE
Healthcare They can advance healthcare to support all economic groups. They
hope to cover a minimum of 60% Rajiv Gandhi Yojana Scheme Card holders in the
State and also lower the costs of patients by 50% through this PPP model.”
The PPP agreement with Government of Maharashtra is the largest in terms
of scale. The package includes installation of 4 units of 64 slice CT scanners,
13 units of advance 16 slice CT scanners, 8 units of cutting edge 1.5T Magnetic
Resonance Imaging with 16 channels, 22 high end digital radiography systems, 39
color Doppler’s and 39 analog x-ray units. Women’s health is given a special
boost with the inclusion of 20 screening mammography units for early breast
cancer detection.
Vaibhav Maloo, Chairman, Ensocare said “They decided to enter into this
PPP to create a meaningful impact on overall Indian society. They have chalked
out plans of investments of US$ 50 million with an appetite for more projects
with various other state governments too. Currently they have won tenders for Maharashtra
and Punjab governments for diagnostics facilities in 43 civil hospitals, 22 in
Maharashtra and 21 in Punjab. GE is a renowned OEM and they are proud of our
association with them. They plan to include value added services and free
treatments for the extreme bottom of the pyramid patients with the help of IT
innovation, cutting edge technology and well-trained medical staff. They are
currently investing time in building our management bandwidth and operational
capabilities to execute the job at hand as quickly as possible."
38 district and other large hospitals under Government of Maharashtra
cater to about 100 million people. It is estimated that in a year, these 38
hospitals would be referring over 100,000 CT scans, 50,000 MRIs, 300,000 color
Doppler studies, 900,000 x-rays and 40,000 mammography exams required for early
detection and treatment of diseases.. However, in the absence of quality
diagnostic imaging infrastructure, these studies are quite often referred to
private centers which substantially increases the cost of treatment.
Dr. Akil Khan, Vice Chairman, Ensocare said “The Economics of volume and
scale is no different to the Healthcare industry which is being seen as the
Sunrise sector in India. Healthcare business has evolved over the last decade
with world class hospital infrastructure with modern amenities being the norm
of the day catering to the affluent. Corporate chains have set up the benchmark
with quality healthcare delivery systems all across tier me cities in India but
none catering to the rural centers. The business of diagnostics has also seen
private giants organizing the pathology services on a national and
international level within the urban centers. The irony of the situation is
that all these respectable conglomerates cater to 5-10 % percentage of a 1.24
billion population in India. What is even worse that the most organized models
of healthcare delivery like the NHS in UK are known for the modernization and
state of art healthcare delivery at the Public and Government hospital level
unlike India. This unique opportunity as provided by this PPP will change the
dynamics of Healthcare in India, with the largely divided middle class and the
underprivileged getting Diagnostic services to begin with, at zero cost or at
heavily subsidized costs and also getting Global standards both in Equipment
quality on Wipro GE equipments and international delivery with Ensocare. I
congratulate the mammoth efforts of Hon'ble Chief Minister and Health Minister
of Maharashtra and their efforts will surely make a difference to 100 million
hearts in the state of Maharashtra”
About Enso Group Enso Group of Companies was started in 2005 primarily
with oil and gas E and P projects in Jordan, Georgia, Nigeria, Australia and
India. By way of acquisitions, we expanded into oil and gas services and are
currently operating in Russia in that sphere. They have proven iron ore, gold
and bauxite concessions in Republic of Guinea. Enso Europe Limited is the chief
consultant to the group’s overseas operations and is based out of London. Enso
Healthcare is the holding company of Ensocare (previously named Uber) and has
committed investments of US$ 50 million in healthcare space. Enso Group’s
activities in India currently are in the sphere of infrastructure, real estate
and automated products in banking and retail. The group's assets are valued at
nearly 9 billion dollars.
WIPRO
GE HEALTHCARE KEEN TO MAKE DIAGNOSTICS AFFORDABLE TO ALL:
Coimbatore, May
3: Wipro GE Healthcare is keen to invest in technologies that are
affordable to all.
Terri Bresenhem, President and Chief Executive, GE Healthcare, told
reporters here on Wednesday that the company has not only been expanding its
presence in India for over two decades now, but investing at least 30 per cent
more in recent years. “The investment is both in terms of manpower and
strengthening our research and development facility,” she said.
INDIA MANUFACTURE
“They are striving to make healthcare affordable to all. While most
medical equipment companies that have established their presence here import
close to 80 per cent of their equipment, our import component is less. At GE
Healthcare, They design and manufacture 30 per cent of the equipment in India.
They have a strong research team, high quality thinkers and innovators here,”
she added.
Bresenhem was in the city at the launch of the Digital Radiography
machine at Sri Ramakrishna Hospital here.
“This digital X-ray machine is capable of reducing the radiation dosage by
about 60 per cent, and is built on technologies that make healthcare affordable
to all,” said the GE Healthcare CEO.
Responding to a query, she said: “India is still an affordable
healthcare destination, although there is a huge variation in pricing. They are
working with both the Centre and different State Governments to improve the
health care sector.”
CCI CLEARS WIPRO GE HEALTHCARE-GE INDIA TECHNOLOGY DEAL
New Delhi, Aug
29:
The Competition Commission has approved medical equipment firm Wipro GE Healthcare’s proposed deal to acquire GE group’s assets related to bio-technology and life sciences.
According to the Competition Commission of India (CCI) “the proposed combination is not likely to have appreciable adverse effect on competition in India”.
Under the deal, Wipro GE would acquire assets of GE India Technology Centre -- part of US-headquartered conglomerate General Electric group -- used in the research areas of bio-technology and life sciences.
The Commission observed that while Wipro GE is engaged in manufacturing and distributing various medical equipment and solutions including life sciences equipment and devices, GE India Technology is into multi-disciplinary research and development in various technologies such as bio-technology.
“Accordingly, it is observed that there is no horizontal overlap between the businesses of Wipro GE and GE India Technology Centre Ltd,” CCI said in an order released today.
Further, CCI noted that “the proposed combination would facilitate vertical integration of the businesses of Wipro GE as it would enable Wipro GE to sell equipment as well as provide related research and other support services in biotech and life-sciences areas“.
“It is also observed that GE India Technology Centre renders 100 per cent of its services to the affiliates of GE group across the world, including India,” CCI said.
“Therefore, this vertical integration is unlikely to result in any appreciable adverse effect on competition,” the fair trade regulator added.
The ‘Asset Purchase Agreement’ was entered between the two companies on July 7, 2014 following which they had approached the competition commission for approval in the same month.
MAHARASHTRA, WIPRO GE IN HEALTHCARE PACT
Mumbai: Maharashtra has signed a Rs.150 crore agreement with Wipro GE Healthcare Private Limited and Enso Care to provide advance diagnostic imaging facilities such as CT scans, magnetic resonance imaging (MRI) and digital radiography systems in 22 district hospitals, according to a Friday government press release.
Under the public private partnership (PPP), the government will provide space and bear the cost of electricity required to operate the equipment while GE will provide the equipment and train employees of Enso Care.
These facilities will be free to those who hold below poverty line (BPL) ration cards while others can get the facilities at government-prescribed rates.
“Maharashtra is the first state to use the PPP route to modernize the healthcare service on such a large scale. The scheme will cover at least 60% beneficiaries of the Rajiv Gandhi Jeevandayee Arogya Yojana and lower the cost of these facilities by 50%,” chief minister Prithviraj Chavan was cited as saying in the statement.
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.62.16 |
|
|
1 |
Rs.94.28 |
|
Euro |
1 |
Rs.73.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.