MIRA INFORM REPORT

 

 

Report No. :

304549

Report Date :

23.01.2015 

 

IDENTIFICATION DETAILS

 

Name :

PRIME DENTAL PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

68, Ground Floor, Raja Industrial Estate, Off P.K. Road, Mulund (West), Mumbai – 400 080, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.07.1995

 

 

Com. Reg. No.:

11-090189

 

 

Capital Investment / Paid-up Capital :

Rs.4.901 millions

 

 

CIN No.:

[Company Identification No.]

U33112MH1995PTC090189

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Importer and Exporter of Dental Equipments and Materials.

 

 

No. of Employees :

More than 70 (Approximately) 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The rating takes into consideration company’s sound financial risk profile and fair liquidity position of the company.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Vijay

Designation :

Administrative Manager

Contact No.:

91-2522-347475

Date :

21.01.2015 

 

 

LOCATIONS

 

Registered Office :

68, Ground Floor, Raja Industrial Estate, Off P.K. Road, Mulund (West), Mumbai – 400 080, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9272235925 (Ms. Priya)

Fax No.:

Not Available

E-Mail :

milan.primedental@gmail.com

Website :

http://www.prime-dental.com

 

 

Factory :

Shree Arihant Compound, Building # E-8, Gala # 10, Thane Bhiwandi Road, Village Kalher, District Thane – 421 302, Maharashtra, India

Tel. No.:

91-2522-347475/ 275533

Fax No.:

91-2522-275535

E-Mail :

info@prime-dental.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Dr. Paresh Vinod Thakkar

Designation :

Director

Address :

201, Victoria Classic, Off. P.K. Road, Mulund (West), Mumbai – 400 080, Maharashtra, India

Date of Birth/Age :

19.03.1963

Date of Appointment :

03.07.1995

DIN No. :

01056135

PAN No.:

AACPT2012K

 

 

Name :

Mr. Bharat Vinod Thakkar

Designation :

Director

Address :

701, Ameya Apartments, Nariman Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

28.08.1963

Date of Appointment :

03.07.1995

DIN No. :

01056130

PAN No.:

ACAPT6303M

 

 

KEY EXECUTIVES

 

Name :

Mr. Vijay

Designation :

Administrative Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Bharat Thakkar

230000

Paresh Thakkar

230000

Vibha B. Thakkar

15000

Rupa P. Thakkar

15000

Bharat Thakkar HUF

53

Paresh Thakkar HUF

53

Jay P. Thakkar

1

Kshama B. Thakkar

2

Sanjay Khatiwala

3

S. Veddula HUF

1

Puja P. Thakkar

1

Total

490114

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

99.99

Other top fifty shareholders

0.01

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer and Exporter of Dental Equipments and Materials.

 

 

Products :

Dental Equipments and Materials

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

  • Finished Goods

Countries :

  • UK
  • Canada
  • African Countries
  • Nepal
  • Sri Lanka
  • Europe

 

 

Imports :

 

Products :

  • Raw Materials

Countries :

  • USA
  • UK
  • France
  • Italy
  • Japan
  • China

 

 

Terms :

 

Selling :

L/C, Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Aayush Surgical

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

·         Ganesh Enterprises

·         Indian Metal Powder

·         Pankaj Dental Traders

·         Gupta Engineering

·         Global Engineering

·         IDS Denmed Private Limited

·         Krishana Coated

·         Mani Inc.

·         Nippon Express (India) Private Limited

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference :

APT Dental Distributors

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

·         Daiki Dental

·         Central Dental Co.

·         Balaji Surgicals

·         Avco Consultancy Services Private Limited

·         Deval Enterprises

·         Dimple Agencies

·         MIT Marketing

·         Kure N Kare International

 

 

No. of Employees :

More than 70 (Approximately) 

 

 

Bankers :

Banker Name

ICICI Bank Limited

Branch Address

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

·         Kotak Mahindra Bank Limited

·         Corporation Bank

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

SHORT TERM BORROWINGS

 

 

Secured Term Loans from Banks

 

 

Daimler Financial

2.170

2.780

Total

2.170

2.780

 

Banking Relations :

--

 

 

Auditors :

 

Name :

V.N. Talati and Company

Chartered Accountants

Address :

104, Vidya Chambers, Nana Chowk, Grant Road, Mumbai – 400 007, Maharashtra, India

Tel. No. :

91-22-23872080

Fax No. :

91-22-23872080

PAN No.:

AABPT2440C

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

1000000

Equity Shares

Rs.10/- each

Rs.10.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

490114

Equity Shares

Rs.10/- each

Rs.4.901 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

4.901

4.901

4.901

(b) Reserves & Surplus

82.988

60.556

45.581

(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)

87.889

65.457

50.482

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.000

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

23.108

25.985

23.530

(b) Trade payables

20.504

18.983

15.444

(c) Other current liabilities

12.396

9.519

8.148

(d) Short-term provisions

12.653

8.446

6.829

Total Current Liabilities (4)

68.661

62.933

53.951

 

 

 

 

TOTAL

156.550

128.390

104.433

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

14.970

14.593

11.201

(ii) Intangible Assets

0.300

0.300

0.300

(iii) Capital work-in-progress

0.000

0.000

0.000

(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

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.003

Total Non-Current Assets

15.270

14.893

11.504

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

38.502

29.515

31.433

(c) Trade receivables

56.551

50.255

36.659

(d) Cash and cash equivalents

19.133

7.854

9.897

(e) Short-term loans and advances

27.094

25.873

14.940

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

141.280

113.497

92.929

 

 

 

 

TOTAL

156.550

128.390

104.433

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

279.143

234.715

183.298

 

 

Other Income

 

 

 

 

 

TOTAL                                    

279.143

234.715

183.298

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

240.588

208.132

162.784

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

38.555

26.583

20.514

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

3.470

3.161

2.213

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

35.085

23.421

18.301

 

 

 

 

 

Less

TAX                                                                 

12.080

7.786

6.256

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

23.005

15.545

12.042

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

5.613

1.234

NA

 

 

 

 

 

 

C.I.F VALUE OF IMPORTS

128.279

112.740

95.411

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

41.94

31.72

24.57

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

22.41

18.24

17.52

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.40

0.36

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.26

0.40

0.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.06

1.80

1.72

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns.)

(INR in Mlns.)

(INR in Mlns.)

Share Capital

4.901

4.901

4.901

Reserves & Surplus

45.581

60.556

82.988

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

50.482

65.457

87.889

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

23.530

25.985

23.108

Total borrowings

23.530

25.985

23.108

Debt/Equity ratio

0.466

0.397

0.263

 

 

YEAR-ON-YEAR GROWTH

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Total Income

183.298

234.715

279.143

 

 

28.051

18.928

 

 

NET PROFIT MARGIN

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Total Income

183.298

234.715

279.143

Profit

12.042

15.545

23.005

 

6.57%

6.62%

8.24%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

NOTE: Current Maturities of Long Term Debts is Not Available.

 

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

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

-----

22]

Litigations that the firm / promoter involved in

-----

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

-----

26]

Buyer visit details

-----

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

SHORT TERM BORROWINGS

 

 

Unsecured Loans and advances from related parties and (Shareholders)

 

 

Thakkar Bharat

5.401

5.225

Thakkar Paresh

8.192

8.925

Bharat V. Thakkar HUF

2.533

2.450

Paresh V. Thakkar HUF

2.404

3.325

Thakkar Puja

0.310

0.550

Thakkar Rupa

0.465

0.450

Thakkar Kshama

1.116

0.330

Thakkar Vibha

0.103

0.100

ThakkarJay

0.310

0.500

Unsecured Loans and advances from Others (Shareholders)

 

 

Genius Corp. Serv. Private Limited

0.000

0.200

S. Vedula HUF

0.104

0.200

Vatani Ganesh

0.000

0.225

Vatani Niranjana

0.000

0.225

Thar Manorama

0.000

0.500

Total

20.938

23.205

 

 

INDEX OF CHARGES

 

No Charges Exist for Company.

 

 

 


 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.61.69

UK Pound

1

Rs.93.33

Euro

1

Rs.71.49                      

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

-- PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

47

 

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

 

--

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.