MIRA INFORM REPORT
|
Report No. : |
327800 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
THYROCARE
TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
D-37/1, TTC Industrial Area, MIDC, Turbhe, Navi Mumbai – 400703,
Maharashtra |
|
Tel. No.: |
91-22-67123456 / 41252525 / 30900000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.01.2000 |
|
|
|
|
Com. Reg. No.: |
11-123882 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.109.180 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110MH2000PLC123882 |
|
|
|
|
IEC No.: |
0301031533 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMT07390F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT2577P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Service provider of diagnostic services. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is as well-known company incorporated in the year 2000 having
satisfactory track. Rating takes into consideration the strong financial risk profile
marked by low gearing, and healthy profit margin. Company has reported significant increase in its sales turnover in
financial year 2014 as compare to FY2013. Overall financial position of the company is decent. Trade relations are fair, Business is active and payment terms are
regular and as per expectations. In a view of strong financials, the company can be considered for
business dealings with usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Aditya Shinde |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-41252525 |
|
Date : |
18.06.2015 |
LOCATIONS
|
Registered / Head Office : |
D-37/1, TTC Industrial Area, MIDC, Turbhe, Navi Mumbai – 400703,
Maharashtra, India |
|
Tel. No.: |
91-22-67123456 / 41252525 / 30900000 |
|
Fax No.: |
91-22-27682409 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 21.08.2014
|
Name : |
Velumani Arokiaswamy |
|
Designation : |
Managing Director |
|
Address : |
D-37/1 TTC MIDC, Next to Allana Cold Storage, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1958 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00002804 |
|
|
|
|
Name : |
Sumathi Velumani Naidu |
|
Designation : |
Director |
|
Address : |
C/O. Of Thyrocare, D-37/1, TTC MIDC Industries, Navi Mumbai - 400705, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1960 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No.: |
00002812 |
|
|
|
|
Name : |
Sundararaju Aarogiasamy Naidu |
|
Designation : |
Whole-Time Director |
|
Address : |
A-02, 01, Crimson Dawn Pricol Apartment, Nava India Road, Peelamedu, Coimbatore - 641004, Tamil Nadu, India |
|
Date of Birth/Age : |
04.09.1958 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00003260 |
|
|
|
|
Name : |
Mr. Gopal Shivram Hegde |
|
Designation : |
Director |
|
Address : |
134, Aram Nagar II, Versova Road, Andheri (West), Mumbai - 400061, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1959 |
|
Date of Appointment : |
21.08.2014 |
|
DIN No.: |
00157676 |
|
|
|
|
Name : |
Sohil Chand |
|
Designation : |
Nominee Director |
|
Address : |
B 19 Defence Colony, New Delhi - 110024, India |
|
Date of Birth/Age : |
13.04.1978 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
02170052 |
|
|
|
|
Name : |
Neetin Shivajirao Desai |
|
Designation : |
Director |
|
Address : |
B-19/6 Kendriya Vihar Setcor 11, Khar Ghar Panvel Raigad, Panvel Navi Mumbai - 410210, Maharashtra, India |
|
Date of Appointment : |
20.09.2014 |
|
DIN No.: |
02622364 |
|
|
|
|
Name : |
Vishwas Madhav Kulkarni |
|
Designation : |
Director |
|
Address : |
B 504 5th Floor, Raunak Tower, Off Gokhale Road, Naupda, Thane (W), Mumbai - 400602, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1961 |
|
Date of Appointment : |
21.08.2014 |
|
DIN No.: |
06953750 |
|
|
|
|
Name : |
Narayanasamy Palanisamy |
|
Designation : |
Director |
|
Address : |
4/7, Savithri Agrden, Chinthamani Pudur, Irugur, Coimbatore - 641103, Tamil Nadu, India |
|
Date of Appointment : |
20.09.2014 |
|
DIN No.: |
06972368 |
KEY EXECUTIVES
|
Name : |
Mr. Ramjee Dorai |
|
Designation : |
Company Secretary |
|
Address : |
B-503, Pride Residency, Sector 7, Near Hiranandani, Kharghar, Navi Mumbai - 410210, Maharashtra, India |
|
Date of Appointment : |
03.09.2014 |
|
PAN No.: |
Addpr1630d |
MAJOR SHAREHOLDERS
As on 21.08.2014
|
Names of Shareholders |
No. of Shares |
|
A. Velumani |
1849479 |
|
V. Sumathi |
130712 |
|
V. Anand |
197848 |
|
V. Amruta |
170712 |
|
A. Velumani HUF |
198324 |
|
A. Sundararaju HUF |
649135 |
|
S. Bhamini |
1000 |
|
A. Sundararaju |
20812 |
|
A. Rathinaswamy |
1000 |
|
R. Vasanthamani |
1000 |
|
A. Rathinaswamy HUF |
1000 |
|
S. Susila |
1000 |
|
K. Selvaraj |
1000 |
|
P. Arokiaswamy |
1001 |
|
A. Sayammal |
1001 |
|
Rao Rajgopal J.K. |
1000 |
|
Mahima Advertising Private Limited, |
315000 |
|
Thyrocate Properties and Infra Private Limited, |
1304450 |
|
Norwest Venture partners VII-A, Mauritius |
1266220 |
|
Sumathi Infra Project Private Limited, India |
221280 |
|
Thyrocare Publications Private Limited, India |
1633625 |
|
Bennett Coleman and Company, India |
75000 |
|
Agalia Private Limited, Mauritius |
2363050 |
|
Samara Capital Partners Fund I Limited, Mauritius |
277500 |
|
Emerging India Fund, India |
235370 |
|
Total |
10917519 |
As on 21.08.2014
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 |
35.78 |
|
Bodies corporate |
34.67 |
|
Directors or relatives of Directors |
21.78 |
|
Other top fifty shareholders |
7.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider of diagnostic services. |
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Products / Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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Terms : |
|
||||
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Selling : |
Cash and Credit (30/60/90 Days) |
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|
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Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
End Users and OMEs
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus, Appolo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAIFB4734C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 21.08.2014
Authorised Capital: Rs.1000.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 505.359
Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10917519 |
Equity Shares |
Rs.10/- each |
Rs.109.180
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
109.180 |
109.180 |
108.090 |
|
(b) Reserves &
Surplus |
1954.160 |
1496.470 |
923.900 |
|
(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) |
2063.340 |
1605.650 |
1031.990 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
250.000 |
250.000 |
250.000 |
|
(b) Deferred tax
liabilities (Net) |
7.540 |
3.250 |
0.000 |
|
(c) Other long term
liabilities |
59.120 |
64.080 |
52.790 |
|
(d) long-term provisions |
5.630 |
3.590 |
3.240 |
|
Total Non-current
Liabilities (3) |
322.290 |
320.920 |
306.030 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
15.140 |
2.050 |
6.570 |
|
(c) Other current
liabilities |
50.780 |
25.880 |
6.130 |
|
(d) Short-term provisions |
3.260 |
10.140 |
9.350 |
|
Total Current Liabilities
(4) |
69.180 |
38.070 |
22.050 |
|
|
|
|
|
|
TOTAL |
2454.810 |
1964.640 |
1360.070 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
864.680 |
742.200 |
190.520 |
|
(ii) Intangible Assets |
8.580 |
7.920 |
5.830 |
|
(iii) Capital
work-in-progress |
64.350 |
104.610 |
0.000 |
|
(iv) Intangible assets
under development |
176.150 |
176.150 |
240.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.350 |
|
(c) Deferred tax assets
(net) |
53.570 |
53.260 |
36.230 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1167.330 |
1084.140 |
472.930 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1013.930 |
596.030 |
0.000 |
|
(b) Inventories |
62.920 |
52.430 |
50.950 |
|
(c) Trade receivables |
49.060 |
33.330 |
23.680 |
|
(d) Cash and cash
equivalents |
119.020 |
175.300 |
590.310 |
|
(e) Short-term loans and
advances |
42.550 |
22.410 |
219.050 |
|
(f) Other current assets |
0.000 |
1.000 |
3.150 |
|
Total Current Assets |
1287.480 |
880.500 |
887.140 |
|
|
|
|
|
|
TOTAL |
2454.810 |
1964.640 |
1360.070 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1499.780 |
1342.610 |
1090.770 |
|
|
Other Income |
59.160 |
176.800 |
54.580 |
|
|
TOTAL |
1558.940 |
1519.410 |
1145.350 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
362.100 |
296.730 |
237.990 |
|
|
Purchases of Stock-in-Trade |
63.960 |
59.600 |
49.060 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.960) |
(0.430) |
3.620 |
|
|
Employees benefits
expense |
117.460 |
89.280 |
69.480 |
|
|
Other expenses |
266.970 |
261.810 |
240.020 |
|
|
TOTAL |
809.530 |
706.990 |
600.170 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
749.410 |
812.420 |
545.180 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
749.410 |
812.420 |
545.180 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
63.620 |
33.160 |
20.910 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
685.790 |
779.260 |
524.270 |
|
|
|
|
|
|
|
Less |
TAX |
228.120 |
213.720 |
174.090 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
457.670 |
565.540 |
350.180 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export Sales |
5.230 |
NA |
NA |
|
|
Testing & Processing
Charges |
7.800 |
NA |
NA |
|
|
Technical
Assistance/Trade Mark Assignment Fees |
2.520 |
NA |
NA |
|
|
TOTAL EARNINGS |
15.550 |
NA |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2.710 |
1.730 |
0.350 |
|
|
Capital Goods |
14.010 |
11.080 |
0.500 |
|
|
Spare Parts |
0.000 |
0.000 |
0.490 |
|
|
TOTAL IMPORTS |
16.720 |
12.810 |
1.340 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
41.92 |
51.80 |
32.07 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1600.000 |
The above information has been parted by Mr. Aditya Shinde (Account
Manager).
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
30.52 |
42.12 |
32.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
49.97 |
60.51 |
49.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.74 |
47.79 |
48.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.49 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.12 |
0.16 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
18.61 |
23.13 |
40.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
108.090 |
109.180 |
109.180 |
|
Reserves & Surplus |
923.900 |
1496.470 |
1954.160 |
|
Net worth |
1031.990 |
1605.650 |
2063.340 |
|
|
|
|
|
|
long-term borrowings |
250.000 |
250.000 |
250.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
250.000 |
250.000 |
250.000 |
|
Debt/Equity ratio |
0.242 |
0.156 |
0.121 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1090.770 |
1342.610 |
1499.780 |
|
|
|
23.088 |
11.706 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1090.770 |
1342.610 |
1499.780 |
|
Profit |
350.180 |
565.540 |
457.670 |
|
|
32.10% |
42.12% |
30.52% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS
For the financial year ended March 31, 2014, the Company has recorded revenue from operations at Rs. 1462.81 million was higher by 11.88% over last year (Rs. 1307.51 million in 2012-2013). The earnings before interest, tax, depreciation and amortization (EBITDA) was at Rs. 749.42 million as compared to Rs. 812.42 million in the previous year. The profit after tax (PAT) was at Rs. 457.67 million as compared to Rs. 565.54 million in the previous year.
COMPANY’S PERFORMANCE
AND FUTURE OUTLOOK
Thyrocare today stands as a pioneer and leader in most of the diagnostic segments it operates. Not many imagined that a lab that did not look impressive, did not have any automation in 1996, did not do anything beyond Thyroid, did not do any technology other than Radioimmunoassay’s, would become industry leader in 2014. It is our single laboratory model for a Billion population, an adamant, undiluted single location philosophy proved its capability to control single handedly the cost of Thyroid in this country. Though today They have 1000 plus analysers standing in the country, competing with us in speed and rates, it is our quality, our brand, our name that brings specimen to one more machine in our floor and that says, brands are ruling and will continue to rule. Competition, no doubt has brought down our growth but our profitability give room for us to become more aggressive. It is more business, more competition, more decibels and of course, more motivating.
There will be an equilibrium well set between quality, reliability and reproducibility or peace of mind that branded national laboratories can offer, would get an additional growth for branded players consistently compared to market CAGR, although cost and speed may not be in their favor. Thyrocare has comforts to match both quality of national brand and cost of local unbranded so that in long run common man would continue get equally good solutions like rich man.
World’s largest preventive care laboratory and World’s largest Thyroid testing laboratory deserves World’s largest track automation. It is certainly a driver for our confidence and that of our client’s confidence in handling 100,000 specimen a night. It now occupies floor and improves our Turnaround time and enhances employee comforts. Introduction of Aarogyam profiles or introducing 6 part differentials of Sysmex in the floor or adding to the arsenal Molecular spectroscopy (ICP MS, LC MSMS) have differentiated us from conventional pathology laboratory. Our initiative in making vitamin profiles, Steroid profiles, Toxic element profiles and nutrient element profiles promise our growth curve enjoying their benefits for entire decade to come.
They are in more than a dozen countries now and are moving towards becoming largest preventive care laboratory in Bahrain which caters to 10 countries and Bangladesh. The floor is already performing and market is yet to be conquered. For the first two years of road, they are doing fairly well to take on the market in long run. It is biochemistry that 50,000 labs in India can do that they also do. But it is immunochemistry that only 5000 laboratories in India can do, in which they are already largest in the country and world, this includes Thyroid testing too. Our current focus is Analytical chemistry which ICPMS and LCMS are steering ahead and soon they would be in Nuclear Chemistry that would give edge to stand as a support when they reach the league of top 10 in the world in market capitalization
It is this young (mean age of 24), energetic, dynamic and most motivated manpower that would differentiate us from other players and it is important for us to mention that They had same mean age in 1995, 2000, 2005, 2010 and now in 2015. Company intends to double its manpower every year for next 5 years and that could make us to handle this Billion population with relative ease while they manage another billion outside India parallel.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Bonds / Debentures |
250.000 |
250.000 |
|
Total |
250.000 |
250.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 records 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.63.81 |
|
|
1 |
Rs.101.25 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
51 |
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.