MIRA INFORM REPORT
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Report No. : |
312261 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MILTON LIFECARE PRIVATE LIMITED |
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Registered
Office : |
Off. No. 407, 4th Floor, Ramji House Premises Cooperative Society Limited,
30, Jambulwadi, J.S.S Road, Kalbadevi, Mumbai – 400002, Maharashtra |
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Tel. No.: |
91-22-22062944 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.03.2006 |
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Com. Reg. No.: |
11-160312 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.200 Million |
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CIN No.: [Company Identification
No.] |
U24230MH2006PTC160312 |
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IEC No.: |
Not Available |
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TIN No.: |
27610704269 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM36605C |
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PAN No.: [Permanent Account No.] |
AAFCM2670J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of Pharmaceutical Products. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
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 : |
Clear |
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Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, the company has reported topline growth
over the previous year but it failed to maintained profitability margins. Further rating also takes into consideration company moderate
financial risk profile and huge external borrowing taken by the company. However, trade relations are 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.
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 |
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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 |
|
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 DECLINED BY
|
Name : |
Ms. Aarti |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-22062944 |
|
Date : |
03.05.2015 |
LOCATIONS
|
Registered Office : |
Off. No. 407, 4th Floor, Ramji House Premises Cooperative Society
Limited, 30, Jambulwadi, J.S.S Road, Kalbadevi, Mumbai – 400002,
Maharashtra, India |
|
Tel. No.: |
91-22-22062944/ 45/ 32905210 |
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Fax No.: |
91-22-22062941 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Anil Chhaganlal Jain |
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Designation : |
Director |
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Address : |
Anand Sagar Ground Floor 12, Gazdhar Street, Room No G 2, Chira Bazar, Mumbai - 400002, Maharashtra, India |
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Date of Appointment : |
07.03.2006 |
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DIN No.: |
02035816 |
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Other Directorship :
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Name : |
Mr. Akshay Anilkumar Jain |
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Designation : |
Director |
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|
Address : |
Anand Sagar Ground Floor 12, Gazdhar Street, Room No G 2, Chira Bazar, Mumbai - 400002, Maharashtra, India |
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Date of Appointment : |
04.04.2009 |
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DIN No.: |
02599554 |
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Name : |
Mr. Hitesh Bhupendra Shah |
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Designation : |
Director |
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Address : |
Sai Sadan, 2nd Floor, Parvardhan Colony, Govandi, Mumbai - 400088, Maharashtra, India |
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Date of Appointment : |
04.04.2009 |
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DIN No.: |
02602902 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Aarti |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Anil Chhaganlal Jain |
8000 |
40.00 |
|
Shantilal Bhikamchand Jain |
1000 |
5.00 |
|
Dilip Shantilal Jain |
1000 |
5.00 |
|
Hitesh Bhupendra Shah |
10000 |
50.00 |
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|
|
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Total |
20000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
100.00 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of Pharmaceutical Products. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel
[West], Mumbai - 400013, Maharashtra, India ·
ING Vysya Bank Limited Shop No 3 to 7, Plot No 175, Runwal, Grandeur, 18th
Road, Chembur (West), Mumbai - 400071, Maharashtra, India ·
IDBI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jain and Sancheti Chartered Accountants |
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Address : |
1/1, Wavell House (Fatemi Manzil),1st Floor, 13-21, 1st Dobhi Talao Lane,
Near Metro Cinema, Mumbai – 400002, Maharashtra, India |
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Tel. No.: |
91-22-22089288 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFJ1425A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
20,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200 Million |
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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 |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
0.200 |
0.200 |
0.200 |
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(b) Reserves & Surplus |
10.024 |
5.736 |
2.915 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
10.224 |
5.936 |
3.115 |
|
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a) Long-term borrowings |
42.477 |
50.421 |
41.010 |
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(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 |
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Total
Non-current Liabilities (3) |
42.477 |
50.421 |
41.010 |
|
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|
|
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(4) Current Liabilities |
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|
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|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
45.803 |
34.308 |
17.559 |
|
(c)
Other current liabilities |
1.063 |
1.165 |
2.356 |
|
(d)
Short-term provisions |
1.925 |
2.092 |
0.829 |
|
Total
Current Liabilities (4) |
48.791 |
37.565 |
20.744 |
|
|
|
|
|
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TOTAL |
101.492 |
93.922 |
64.869 |
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II.
ASSETS |
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|
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|
(1) Non-current assets |
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|
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(a)
Fixed Assets |
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|
|
|
(i)
Tangible assets |
0.486 |
0.550 |
0.634 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
1.846 |
2.221 |
0.890 |
|
Total
Non-Current Assets |
2.332 |
2.771 |
1.524 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
45.469 |
39.204 |
31.556 |
|
(c)
Trade receivables |
52.096 |
50.531 |
31.238 |
|
(d)
Cash and cash equivalents |
0.116 |
1.416 |
0.551 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
1.479 |
0.000 |
0.000 |
|
Total
Current Assets |
99.160 |
91.151 |
63.345 |
|
|
|
|
|
|
TOTAL |
101.492 |
93.922 |
64.869 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
501.840 |
342.374 |
|
|
|
|
Other Income |
0.187 |
0.273 |
|
|
|
|
TOTAL |
502.027 |
342.647 |
236.931 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
495.797 |
338.560 |
234.248 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.230 |
4.087 |
2.683 |
|
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|
|
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Less |
TAX |
1.942 |
1.265 |
0.839 |
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PROFIT AFTER TAX
|
4.288 |
2.822 |
1.844 |
|
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|
|
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|
|
|
|
|
Earnings Per
Share (Rs.) |
214.4 |
141.1 |
92.2 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.85 |
0.82 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.14 |
4.35 |
4.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61 |
0.69 |
0.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.15 |
8.49 |
13.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
2.43 |
3.05 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.200 |
0.200 |
0.200 |
|
Reserves & Surplus |
2.915 |
5.736 |
10.024 |
|
Net
worth |
3.115 |
5.936 |
10.224 |
|
|
|
|
|
|
Long-term borrowings |
41.010 |
50.421 |
42.477 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
41.010 |
50.421 |
42.477 |
|
Debt/Equity ratio |
13.165 |
8.494 |
4.155 |
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) |
|
Total Income |
236.931 |
342.647 |
502.027 |
|
|
|
44.619 |
46.514 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
236.931 |
342.647 |
502.027 |
|
Profit |
1.844 |
2.822 |
4.288 |
|
|
0.78% |
0.82% |
0.85% |
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 |
No |
|
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 |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10311025 |
09/10/2014 * |
25,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C30577175 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Akshay A. Jain |
0.010 |
0.010 |
|
Anil C. Jain |
0.925 |
0.925 |
|
Keshav Diamond Private Limited |
0.000 |
10.000 |
|
Damyanti S. Jain |
1.280 |
1.280 |
|
Dilip Shantilal Jain |
0.005 |
0.005 |
|
Emcee Securities Private Limited |
24.660 |
24.660 |
|
Hitesh Bhupendra Shah (HUF) |
0.470 |
0.470 |
|
Hitesh Bhupendra Shah |
0.500 |
0.500 |
|
Kiran Dilip Jain |
0.210 |
0.210 |
|
Shantilal B. Jain |
0.805 |
0.805 |
|
Vanita H. Shah |
2.089 |
2.585 |
|
|
|
|
|
Total |
30.954 |
41.450 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 2nd Floor,
Bhagwan Bhuvan, 15 Dadi Santuk Lane, JSS Road, Chira Bazar, Mumbai - 400002,
Maharashtra, India to the present address w.e.f.01.04.2011
OPERATIONS AND
FUTURE OUTLOOK
This is company’s 8th year of business operations. The performance is
satisfactory during the year. The business is expected to increase in future.
FIXED ASSETS:
· Computer
· Plant and Machinery
· Furniture and Fittings
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. 63.52 |
|
|
1 |
Rs. 95.96 |
|
Euro |
1 |
Rs. 70.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.