MIRA INFORM REPORT

 

 

Report No. :

312493

Report Date :

04.05.2015

 

IDENTIFICATION DETAILS

 

Name :

MALHI MEDICOS

 

 

Registered Office :

I/S Advanced Endoscopy and Scanning Centre Ferozpur Road, Near Lal Bati Chowk, Moga – 142001, Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Year of Establishment:

2010

 

 

Capital Investment / Paid-up Capital :

Rs.1.905 Million

 

 

IEC No.:

Not Available

 

 

TIN No.:

03712082980

 

 

PAN No.:

BSQPS3676F

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader and Dealer of Allopathic Medicines

 

 

No. of Employees :

4 (Approximately)

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

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 proprietary concern having a satisfactory track record.

 

The rating takes into consideration concern’s sound operational risk profile supported by decent topline growth over a year and fair profitability margins of the concern.

 

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

 

The concern can considered normal 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.

 

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 PARTED BY

 

Name :

Mr. Amarjit Sing Boparai

Designation :

Proprietor

Contact No.:

91-9872598117

Date :

30.04.2015

 

 

LOCATIONS

 

Registered Office :

I/S Advanced Endoscopy and Scanning Centre Ferozpur Road, Near Lal Bati Chowk, Moga – 142001, Punjab, India

Tel. No.:

91-1636-221868

Mobile No.:

91-9872598117 (Mr. Amarjit Sing Boparai)

Fax No.:

Not Available

E-Mail :

captamarjit@rediffmail.com

 

 

SOLE PROPRIETOR

 

Name :

Mr. Amarjit Sing Boparai

Designation :

Proprietor

Address :

Moga – 142001, Punjab, India

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Dealer of Allopathic Medicines

 

 

Products :

Allopathic Medicines

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Roche Products India Private Limited

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit (30 Days)

 

 

Purchasing :

Cash and Credit (30 Days)

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name 1 :

Cheap Medical Agencies – Ludhiana

Name of the Person :

Mr. Sutbir Singh – Proprietor’s Son

Contact No.:

91-9872301158

Since How Long Known :

4-5 Years

Maximum Limit Dealt :

Monthly Rs.0.600 Million

Experience :

Payment Behaviour

Market Goodwill            Excellent

Overall                       

Remark :

As claimed by Mr. Satbir Singh that subject is very good company very well-known company in market.

 

 

Company Name 2 :

Brij Agencies (Pharma)

Name of the Person :

Ghumar Mandi Chowk, First Floor, , Punjab and Sind Bank, Ludhiana, Punjab, India

Contact No.:

91-161-2408358

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Company Name 3 :

Life Care Pharma

Name of the Person :

7 E, First Floor, Tagore Nagar, Ludhiana – 141001, Punjab, India

Contact No.:

91-161-5086816

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

End Users

 

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

4 (Approximately)

 

 

Bankers :

Banker Name :

Corporation Bank

Branch :

Moga – 142001, Punjab, India

Person Name (With Designation) :

Mr. Kapil Dev (Manager)

Contact Number :

91-1636-225099

Name of Account Holder :

Malhi Medicos

Account Number :

CBCA/01/235

Account Since (Date/Year of Account Opening) :

17.12.2010

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

Satisfactory

Remark :

Satisfactory

 

 

 

Auditors :

 

Name :

Hemant Arora and Associates

Chartered Accountants

Address :

Court Road, Partap Bazar, near Town Hall, Moga, Punjab, India

Tel. No.:

91-1636-223209 / 231209

Mobile No.:

91-8283825209

E-mail :

ca.hemant89@gmail.com

 

 

Collaborators :

Not Divulged

 

 

Membership :

Not Divulged

 

 

Sister Concern :

--

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Capital Account of Amarjit Singh for the year ended on 31.03.2014

 

Particulars

 

Rs. In Million

Particulars

Rs. In Million

To Withdrawals

0.197

By Balance B/f

1.670

To Advance Income Tax

0.030

By Interest S/A HDFC

0.006

To LIC

0.114

By Interest FDR HDFC

0.061

To HDFC Life Insurance

0.050

By Net Profit

0.566

To TDS on FDR

0.007

 

 

To Balance C/f

1.905

 

 

 

 

 

 

 

2.303

 

2.303

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

1.905

1.670

1.245

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1.905

1.670

1.245

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.000

0.000

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

1.905

1.670

1.245

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.033

0.029

0.032

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

0.783

0.000

0.248

 

Sundry Debtors

0.000

0.000

0.000

 

Cash & Bank Balances

2.166

2.708

1.627

 

Other Current Assets

0.000

0.198

0.000

 

Loans & Advances

0.000

0.000

0.000

Total Current Assets

2.949

2.906

1.875

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

0.891

0.003

0.000

 

Other Current Liabilities

0.186

1.262

0.662

 

Provisions

0.000

0.000

0.000

Total Current Liabilities

1.077

1.265

0.662

Net Current Assets

1.872

1.641

1.213

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

1.905

1.670

1.245

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

16.530

14.542

7.301

 

 

Other Income

0.000

0.000

0.000

 

 

TOTAL                                    

16.530

14.542

7.301

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

15.547

13.435

6.913

 

 

Bank Expenses

0.005

0.002

0.001

 

 

Mobile

0.008

0.002

0.000

 

 

Salary to Staff

0.248

0.246

0.048

 

 

Shop Rent

0.120

0.120

0.024

 

 

Discount

0.000

0.001

0.000

 

 

Miscellaneous Expenses

0.017

0.026

0.003

 

 

Staff Welfare

0.016

0.016

0.000

 

 

Professional Fee

0.000

0.010

0.010

 

 

TOTAL                                    

15.961

13.858

6.999

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE DEPRECIATION

0.569

0.684

0.302

 

 

 

 

 

Less

DEPRECIATION           

0.004

0.003

0.004

 

 

 

 

 

 

NET PROFIT / (LOSS)

0.565

0.681

0.298

 

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

3.42

4.68

4.08

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

19.16

23.43

15.89

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.30

0.41

0.24

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.77

2.32

2.88

 

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

1.245

1.670

1.905

Reserves & Surplus

0.000

0.000

0.000

Net worth

1.245

1.670

1.905

 

 

 

 

Secured Loans

0.000

0.000

0.000

Unsecured Loans

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

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

7.301

14.542

16.530

 

 

99.178

13.671

 

 

 

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

7.301

14.542

16.530

Profit

0.298

0.681

0.565

 

4.08%

4.68%

3.42%

 

 

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

No

17]

Major suppliers

Yes

18]

Major customers

No

19]

Payments terms

Yes

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

No

25]

Conduct of the banking account

--

26]

Buyer visit details

--

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

No

29]

Last accounts filed at ROC

No

30]

Major Shareholders, if available

No

31]

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

No

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

 

------------------------------------------------------------------------------------------------------------------------------

 

MR. AMARJIT SINGH

 

COMPUTATION OF ASSESSABLE INCOME

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2014

 

Income from Business / Profession

--------------------------------------------------

 

 

0.565

Malhi Medicos

--------------------

 

 

 

Net Profit as per Profit & Loss A/c

 

0.565

 

Add: Items Inadmissible / For Separate Consideration

-----------------------------------------------------------------------

 

0.004

 

Depreciation Separately Considered

0.004

 

 

Sub Total

 

0.569

 

Less: Items Inadmissible / For Separate Consideration

------------------------------------------------------------------------

 

0.004

 

Depreciation Admissible

0.004

 

 

Business Income

 

--------

0.565

--------

 

 

 

 

 

Income from Other sources

---------------------------------------

 

 

0.067

Bank Interest

------------------

 

 

 

Misc. Interest

 

0.006

 

FDR Interest

----------------

 

 

 

FDR Interest

 

0.061

 

Total Income from other sources

 

--------

0.067

--------

 

Gross Total Income

 

 

0.632

Less: Deduction under chapter VI-A

 

 

0.106

 

 

 

 

u/s 80C

----------

 

0.100

 

Life Insurance Premium

0.114

 

 

HDFC Insurance

0.050

---------

 

 

(Gross Rs.0.164 Million qualifying Rs.0.100 Million)

 

 

 

 

 

 

 

u/s 80TTA Saving Interest Received

 

0.006

--------

 

Total Income

 

 

--------

0.527

---------

Net Assessable Income of the Assessee is thus Rs.0.527 Million

 

 

 

 

 

------------------------------------------------------------------------------------------------------------------------------

 

COMPUTATION OF INCOME TAX

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2014

 

Tax on Total Income of Rs.0.527 at normal rates

0.035

Add: Education Cess @3%

0.001

--------

 

0.036

Tax Payable

 

Less: TDS

0.007

 

----------

0.029

Less: Advance Tax Paid

0.030

 

 

---------------------------------------------------------------------------------------------------------------------

Date                 Branch Code                 Challan Serial No                       Rs. In Million

---------------------------------------------------------------------------------------------------------------------

06.03.2014           6360218                               1012                                            0.030

---------------------------------------------------------------------------------------------------------------------

 

Add: Interest payable

0.001

Interest u/s 234C

 

1st Installment :  261

 

2nd Installment:   522

 

(Interest Calculated upto 30.09.2014)

 

 

 

Refund due and interest thereon

0.000

 

 

------------------------------------------------------------------------------------------------------------------------------

 

 

 

 

 

 

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 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.63.58

UK Pound

1

Rs.97.99

Euro

1

Rs.70.53

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NKT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

43

 

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.