MIRA
INFORM REPORT
|
Report No. : |
305591 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HAW PAR (INDIA) PRIVATE LIMITED (w.e.f. 22.06.2009) |
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Formerly Known
As : |
HAW PAR ELDER (INDIA) PRIVATE LIMITED (w.e.f. 09.08.1995) HAW PAR MEDICALS ( |
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Registered
Office : |
811 / 8th Floor, FILIX, Opposite Asain Paints Gate, L.B.S.
Marg, Bhandup (West), Mumbai – 400 078, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.08.1995 |
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Com. Reg. No.: |
11-091579 |
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Capital
Investment / Paid-up Capital : |
Rs. 80.000 Millions |
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CIN No.: [Company Identification
No.] |
U24230MH1995PTC091579 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACH8946H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Ayurvedic products. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Not Available |
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Comments : |
Subject is a subsidiary of “HAW PAR HEALTHCARE; Singapore”. It is an established company having a moderate track record. There appears some accumulated losses recorded by the company during
2014. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DECLINED BY
|
Name : |
Mr. Irshad Quereshi |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-67417060 |
|
Date : |
29.01.2015 |
LOCATIONS
|
Registered Office : |
811 / 8th Floor, FILIX, Opposite Asain Paints Gate, L.B.S.
Marg, Bhandup (West), Mumbai – 400 078, Maharashtra, India |
|
Tel. No.: |
91-22-67417060 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Ah Kuan Han |
|
Designation : |
Director |
|
Address : |
101, Jalan Binchang, Singapore – 578570 |
|
Date of Birth/Age : |
04.06.1948 |
|
Date of Appointment : |
22.07.1998 |
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DIN No.: |
01403006 |
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Name : |
Mr. Sein Hao Tarn |
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Designation : |
Director |
|
Address : |
9, Jalan Angklong, Singapore 578712 |
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Date of Birth/Age : |
17.03.1967 |
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Date of Appointment : |
01.04.2003 |
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DIN No.: |
01403052 |
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|
Name : |
Mr. Ee Lim Wee |
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Designation : |
Director |
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Address : |
6, Camden Park, Singapore 299796 |
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Date of Birth/Age : |
27.08.1961 |
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Date of Appointment : |
01.04.2003 |
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DIN No.: |
01403026 |
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Name : |
Mr. Bee Leong Goh |
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Designation : |
Director |
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Address : |
23, Jalan Asuhan, Singapore 299346 |
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Date of Birth/Age : |
06.03.1954 |
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Date of Appointment : |
07.04.2003 |
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DIN No.: |
01421430 |
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|
|
|
Name : |
Mr. Vijay Ramchandra Arora |
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Designation : |
Director |
|
Address : |
Panchsmurthi CHS Limited, Shrishti Complex, Powai, Mumbai – 400072,
Maharashtra, India |
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Date of Birth/Age : |
01.01.1977 |
|
Date of Appointment : |
14.05.2014 |
|
DIN No.: |
06870688 |
KEY EXECUTIVES
|
Name : |
Mr. Irshad Quereshi |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Haw Par Healthcare Limited, Singapore |
|
7999999 |
|
Ah Kuan Han |
|
1 |
|
TOTAL |
|
8000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20305591_MIRA%2030-Jan-2015_files/image002.gif)
BUSINESS DETAILS
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Line of Business : |
Trader of Ayurvedic products. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400 028,
Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP5579P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Haw Par Healthcare Limited, Singapore |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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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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|
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|
(1)Shareholders' Funds |
|
|
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|
(a) Share Capital |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
(38.185) |
(49.468) |
(58.014) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
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|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
41.815 |
30.532 |
21.986 |
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|
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(3) Non-Current Liabilities |
|
|
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|
(a) long-term borrowings |
0.316 |
0.316 |
0.316 |
|
(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) |
0.316 |
0.316 |
0.316 |
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
11.962 |
16.722 |
28.768 |
|
(c) Other current liabilities |
27.719 |
24.877 |
21.654 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
39.681 |
41.599 |
50.422 |
|
|
|
|
|
|
TOTAL |
81.812 |
72.447 |
72.724 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.385 |
0.390 |
0.508 |
|
(ii) Intangible Assets |
0.013 |
0.003 |
0.007 |
|
(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 |
1.723 |
2.104 |
1.460 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2.121 |
2.497 |
1.975 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
33.808 |
32.385 |
52.079 |
|
(d) Cash and cash equivalents |
31.448 |
25.515 |
11.910 |
|
(e) Short-term loans and
advances |
14.435 |
12.050 |
6.760 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
79.691 |
69.950 |
70.749 |
|
|
|
|
|
|
TOTAL |
81.812 |
72.447 |
72.724 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
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|
|
|
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Income (Gross Sales) |
NA |
182.129 |
112.762 |
|
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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|
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|
Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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|
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|
PROFIT/(LOSS) BEFORE TAX |
NA |
10.747 |
2.224 |
|
|
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|
|
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|
Less |
TAX |
NA |
2.200 |
1.319 |
|
|
|
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|
PROFIT/(LOSS) AFTER TAX |
11.282 |
8.547 |
0.905 |
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|
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|
Earnings/(Loss) Per Share (Rs.) |
1.41 |
1.07 |
22.16 |
|
%20PRIVATE%20LIMITED%20-%20305591_MIRA%2030-Jan-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20305591_MIRA%2030-Jan-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20305591_MIRA%2030-Jan-2015_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
4.69 |
0.80 |
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
14.83 |
3.06 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.35 |
0.10 |
|
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|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.01 |
0.01 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01 |
1.68 |
1.40 |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
(58.014) |
(49.468) |
(38.185) |
|
Net
worth |
21.986 |
30.532 |
41.815 |
|
|
|
|
|
|
long-term borrowings |
0.316 |
0.316 |
0.316 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.316 |
0.316 |
0.316 |
|
Debt/Equity
ratio |
0.014 |
0.010 |
0.008 |
%20PRIVATE%20LIMITED%20-%20305591_MIRA%2030-Jan-2015_files/image007.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
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 |
No |
|
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 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FINANCIAL RESULTS
During the period, the working result of the company shows a Net Profit after Tax of Rs 11.282 Millions (Previous Year Rs 8.547 Millions).
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Loans and advances from related parties |
0.316 |
0.316 |
|
|
|
|
|
Total |
0.316 |
0.316 |
FIXED ASSETS
Tangible assets
· Furniture and fixtures
· Office equipment
· Leasehold improvements
Intangible assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
PAT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
|
27 |
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.