MIRA INFORM REPORT
|
Report No. : |
312377 |
|
Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAHYADRI HOSPITALS LIMITED SAHYADRI HOSPITAL MEDICAL STORE (A UNIT OF SAHYADRI HOSPITALS LIMITED) |
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Registered
Office : |
Survey No. 89 and 90, Plot No. 54, Lokmanya Colony, Kothrud, Pune –
411038, Maharashtra |
|
Tel. No.: |
91-20-67215000 |
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|
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.05.1996 |
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Com. Reg. No.: |
11-099499 |
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Capital
Investment / Paid-up Capital : |
Rs. 973.981 Million |
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|
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CIN No.: [Company Identification
No.] |
U85110PN1996PLC099499 |
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IEC No.: |
3199007678 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCS9911L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Composite Healthcare Services which include running of Hospitals, Laboratories and Pharmacies. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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. The company has incurred a huge loss from its operation during 2014.
Reserves of the company also seem to be low. However, trade relations are reported as 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 : |
Mr. Ravindra Jagude |
|
Designation : |
Pharmacy Department |
|
Contact No.: |
91-22-67215000 |
|
Date : |
03.05.2015 |
LOCATIONS
|
Registered Office : |
Survey No. 89 and 90, Plot No. 54, Lokmanya Colony, Kothrud, Pune –
411038, Maharashtra, India |
|
Tel. No.: |
91-20-67215000/ 67213000 (30 lines)/ 25403000/ 25403040 |
|
Fax No.: |
91-20-67215098/ 25459315 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Branches : |
Located at: ·
Pune ·
Navi Mumbai ·
Karad ·
Nashik |
DIRECTORS
AS ON 31.10.2014
|
Name : |
Mr. Charudutta Achyut Apte |
|
Designation : |
Managing director |
|
Address : |
1015/3, Kusalkar Road, Pune - 411016, Maharashtra, India |
|
Date of Birth/Age : |
19.12.1954 |
|
Qualifications : |
MBBS, MS (Nuerosurgery) |
|
Date of Appointment : |
11.01.2010 |
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PAN No.: |
ABIPA3671L |
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DIN No.: |
00486366 |
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|
|
|
Name : |
Mr. Sanjay Sharad Vaidya |
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Designation : |
Director |
|
Address : |
Plot No. 67, Shailesh Society, Karvenagar, Pune - 411052, Maharashtra, India |
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Date of Birth/Age : |
09.08.1955 |
|
Qualifications : |
M. Com, CFA, Grad. CWA |
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Date of Appointment : |
23.12.2005 |
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DIN No.: |
00024245 |
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|
|
|
Name : |
Mr. Sadanand Dattatrey Bapat |
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Designation : |
Director |
|
Address : |
C-21, Abhimanshree Society, Pashan Road, Pune - 411008, Maharashtra, India |
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Date of Birth/Age : |
29.04.1951 |
|
Qualifications : |
MBA (Finance) |
|
Date of Appointment : |
30.09.1999 |
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DIN No.: |
00077338 |
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|
|
|
Name : |
Mr. Nitin Raojibhai Desai |
|
Designation : |
Director |
|
Address : |
457, Sind Housing Society, Aundh, Pune - 411007, Maharashtra, India |
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Date of Birth/Age : |
01.11.1943 |
|
Qualifications : |
BE (Civil), MS (Engineering) |
|
Date of Appointment : |
14.06.1996 |
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PAN No.: |
ABOPD1864A |
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DIN No.: |
00140239 |
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|
|
|
Name : |
Mr. Prakash Raghunath Tulpule |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 11, Swastishree Society, Ganeshnagar, Pune - 411052, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1954 |
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Qualifications : |
B. Sc., MA (Psychology) |
|
Date of Appointment : |
14.06.1996 |
|
PAN No.: |
ABSPT7242A |
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DIN No.: |
00468606 |
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|
Name : |
Dr. Jayashree Charudutta Apte |
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Designation : |
Whole-time director |
|
Address : |
1015/3, Kusalkar Road,, Near Deep Bunglow Chowk, Pune - 411016, Maharashtra, India |
|
Date of Birth/Age : |
19.12.1954 |
|
Date of Appointment : |
25.07.2014 |
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PAN No.: |
AAZPA3418P |
|
DIN No.: |
00486408 |
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|
|
|
Name : |
Mr. Narayanan Gopalakrishnan |
|
Designation : |
Additional director |
|
Address : |
F-1101, Raj Legacy LBS Marg, Vikhroli (West), Mumbai - 400083, Maharashtra, India |
|
Date of Appointment : |
18.02.2015 |
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DIN No.: |
05166322 |
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|
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|
Name : |
Mr. Mayank Bansal |
|
Designation : |
Additional director |
|
Address : |
708, Sector A, Pocket B, Vasant Kunj, Delhi - 110070, India |
|
Date of Appointment : |
18.02.2015 |
|
DIN No.: |
06998315 |
KEY EXECUTIVES
|
Name : |
Mrs. Asmita Sandeep Kulkarni |
|
Designation : |
Secretary |
|
Address : |
27/2, Gujarat Colony, Kothrud, Pune - 411038, Maharashtra, India |
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Date of Appointment : |
28.11.2014 |
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PAN No.: |
ALGPG5366G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.10.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 31.10.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture capital |
37.07 |
|
Bodies
corporate |
3.36 |
|
Directors
or relatives of directors |
31.27 |
|
Other
top fifty shareholders |
24.70 |
|
Others
|
3.60 |
|
|
|
|
Total |
100.00 |
%20-%20312377%2007-May-2015_files/image013.gif)
BUSINESS DETAILS
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Line of Business : |
Providing Composite Healthcare Services which include running of Hospitals, Laboratories and Pharmacies. |
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Products/ Services : |
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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 : |
·
Corporation Bank Industrial Finance Branch, 14, Pune Mumbai Road,
Wakdewadi, Pune - 411003, Maharashtra, India ·
IDBI Bank Limited City SME Centre, 4th Floor, IDBI House, F C Road,
Dnyaneshwar Paduka Chowk, Shivajinagar, Pune - 411004, Maharashtra, India ·
Union Bank of India Industrial Finance Branch, Sachapir Street, Pune
- 411001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Citicorp
Finance (India) Limited |
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Auditors : |
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|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
703, Godrej Castlemaine, 7Th Floor, Bund Garden Road, Pune – 411001, Maharashtra, India |
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Income-tax
PAN of auditor or auditor’s firm : |
AAIFB4734C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary
company : |
·
Sahyadri Karad Hospitals Private Limited
[U85110PN2006PTC128551] ·
Surya Hospitals Private Limited
[U85110PN1984PTC034225] · Sahyadri Speciality Pacific Hospital Limited |
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Associate company : |
Sahyadri (Konkan) Hospitals Private Limited |
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Share holders having significant
influence over the Company : |
IDFC Trustee
Company Limited - India Infrastructure Fund |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
·
Konkan Mitra Mandal Medical Trust ·
Pune Neurosciences Trust and Research
Society ·
Anand Agencies ·
Indus Health Plus Private Limited
[U85200MH1995PTC091382] ·
Sanand Properties Private Limited
[U70101PN1997PTC111093] ·
Bageecha Glades Private Limited
[U01122MH1997PTC108283] ·
Desai Brothers Limited
[U55101MH1973PLC016960] ·
Desons Holdings And Finance Private Limited
[U67120PN1983PTC029447] ·
Aquapharm Chemicals Private Limited
[U24231MH1974PTC017243] ·
Associated Blenders Private Limited
[U15510PN2002PTC020018] |
CAPITAL STRUCTURE
AS ON 31.10.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 225.000 Million |
|
80,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 800.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1025.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,398,101 |
Equity Shares |
Rs. 10/- each |
Rs. 173.981 Million |
|
80,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 800.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 973.981
Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Million |
|
80,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 800.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,398,101 |
Equity Shares |
Rs. 10/- each |
Rs. 173.981 Million |
|
80,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 800.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 973.981
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 |
973.981 |
773.981 |
523.981 |
|
(b) Reserves & Surplus |
445.505 |
580.606 |
567.437 |
|
I 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) |
1419.486 |
1354.587 |
1091.418 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
926.926 |
517.341 |
403.257 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
24.687 |
34.706 |
|
I
Other long term liabilities |
214.640 |
77.786 |
11.566 |
|
(d)
long-term provisions |
38.337 |
31.304 |
24.580 |
|
Total
Non-current Liabilities (3) |
1179.903 |
651.118 |
474.109 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
30.503 |
95.625 |
207.452 |
|
(b)
Trade payables |
206.031 |
197.701 |
157.583 |
|
I
Other current liabilities |
296.612 |
308.879 |
233.827 |
|
(d)
Short-term provisions |
17.575 |
13.945 |
8.935 |
|
Total
Current Liabilities (4) |
550.721 |
616.150 |
607.797 |
|
|
|
|
|
|
TOTAL |
3150.110 |
2621.855 |
2173.324 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1516.679 |
913.837 |
832.648 |
|
(ii)
Intangible Assets |
2.348 |
2.829 |
5.586 |
|
(iii)
Capital work-in-progress |
400.211 |
488.156 |
81.322 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
248.331 |
208.378 |
198.036 |
|
I Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
315.699 |
387.424 |
272.319 |
|
(e)
Other Non-current assets |
1.000 |
2.656 |
5.058 |
|
Total
Non-Current Assets |
2484.268 |
2003.280 |
1394.969 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
1.539 |
249.902 |
|
(b)
Inventories |
52.919 |
40.988 |
36.315 |
|
I
Trade receivables |
143.000 |
125.701 |
178.166 |
|
(d)
Cash and cash equivalents |
57.626 |
45.815 |
54.671 |
|
(e)
Short-term loans and advances |
288.194 |
314.237 |
199.502 |
|
(f)
Other current assets |
124.103 |
90.295 |
59.799 |
|
Total
Current Assets |
665.842 |
618.575 |
778.355 |
|
|
|
|
|
|
TOTAL |
3150.110 |
2621.855 |
2173.324 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1835.465 |
1657.076 |
1585.338 |
|
|
|
Other Income |
42.795 |
48.031 |
22.271 |
|
|
|
TOTAL (A) |
1878.260 |
1705.107 |
1607.609 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
511.839 |
484.004 |
475.941 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(11.300) |
(4.993) |
6.299 |
|
|
|
Employees benefits expense |
381.286 |
307.427 |
250.231 |
|
|
|
Other expenses |
910.670 |
737.031 |
647.146 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
7.899 |
|
|
|
TOTAL (B) |
1792.495 |
1523.469 |
1387.516 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
85.765 |
181.638 |
220.093 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
105.386 |
83.430 |
80.276 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(19.621) |
98.208 |
139.817 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
135.674 |
89.440 |
86.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(155.295) |
8.768 |
53.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(24.688) |
(10.019) |
18.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(130.607) |
18.787 |
35.482 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Hospital Income |
20.168 |
34.833 |
29.791 |
|
|
|
Exports of Medicine |
9.460 |
4.921 |
0.256 |
|
|
|
Exports of Equipments |
0.000 |
4.593 |
0.000 |
|
|
TOTAL EARNINGS |
29.628 |
44.347 |
30.047 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
(7.51) |
1.08 |
2.04 |
|
|
|
Diluted
|
(7.51) |
0.94 |
2.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(7.12) |
1.13 |
2.24 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.67 |
10.96 |
13.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.21) |
0.46 |
2.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
0.01 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.67 |
0.45 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.00 |
1.28 |
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 |
523.981 |
773.981 |
973.981 |
|
Reserves & Surplus |
567.437 |
580.606 |
445.505 |
|
Net
worth |
1091.418 |
1354.587 |
1419.486 |
|
|
|
|
|
|
Long-term borrowings |
403.257 |
517.341 |
926.926 |
|
Short term borrowings |
207.452 |
95.625 |
30.503 |
|
Total
borrowings |
610.709 |
612.966 |
957.429 |
|
Debt/Equity ratio |
0.560 |
0.453 |
0.674 |
%20-%20312377%2007-May-2015_files/image015.gif)
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 |
1585.338 |
1657.076 |
1835.465 |
|
|
|
4.525 |
10.765 |
%20-%20312377%2007-May-2015_files/image017.gif)
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 |
1585.338 |
1657.076 |
1835.465 |
|
Profit/ (Loss) |
35.482 |
18.787 |
(130.607) |
|
|
2.24% |
1.13% |
(7.12%) |
%20-%20312377%2007-May-2015_files/image019.gif)
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 |
Yes |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10458801 |
15/10/2013 |
1,550,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, 619, SACHAPIR STREET, |
B88998398 |
|
2 |
10446593 |
22/08/2013 |
719,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH, 14, PUNE MUMBAI ROAD, |
B83796409 |
|
3 |
10368600 |
10/07/2012 |
1,250,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH, 14, PUNE MUMBAI ROAD, |
B44929982 |
|
4 |
10305068 |
10/08/2011 |
903,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH,, 14, PUNE MUMBAI ROAD, |
B19981745 |
|
5 |
10219705 |
15/04/2013 * |
557,100,000.00 |
UNION BANK OF
INDIA |
UNION BANK BHAVAN,
236, NARIMAN POINT, THROUGH ITS CANTONMENT BRANCH, PUNE, MAHARASHTRA -
400021, INDIA |
B74196445 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
50.000 |
|
|
|
|
|
Total |
0.000 |
50.000 |
GENERAL INFORMATION
Subject was incorporated in
the year 1996 with the main objective of managing, administering, owning and
carrying on the business of running hospitals, nursing homes, clinics,
dispensaries, maternity homes and specialized medical care centers.
The Company's main
promoters are Dr. Charudutta Apte, Mr. Sadananad Bapat and Mr. Nitin Desai. The
first tertiary care hospital named Sahyadri Specialty Hospital Karve Road, Pune
went functional in 2005. In 2006, the first 'spoke' of the 'Hub and Spoke'
model at Kothrud, a suburb in the city of Pune went functional.
The Company has since
established six other spokes in the Pune city at Swargate, Hadapsar, Fatima
Nagar, Bopodi, Bibwewadi and Nagar Road.
The Company has expanded
its operations in Nashik, Navi Mumbai and Jalna in Maharashtra and at
Gandhidham in Gujarat.
The Company started
operations in Fiji Island from September 2012. The Nagar road operations
commenced from 13th May 2013.
BUSINESS OPERATIONS AND PERFORMANCE REVIEW
All renovation / expansion projects
of the Company are almost completed and the management is now fully focused to
stabilize operations of the new hospitals and consolidate it to achieve
sustainable growth both in revenue and profitability.
The Company achieved
marginal increase of about 11% in operating revenue. The EBIDTA was
significantly affected due to new facilities going in to operations without
corresponding profitability. In a bid to achieve the improved performance the
management has embarked on marketing strategy focusing hospital units with high
potential to achieve substantial increase in revenue.
The 130 bedded state- of-
the- art multi speciality tertiary care hospital at Nagar Road, Pune was
inaugurated in May 2013 providing services in all specialities super specialties
and diagnostic facilities under one roof. The hospital is becoming one of the
preferred medical care destinations for Patients and Doctors in the eastern
corridor of Pune.
The renovation of hospital
at Nashik with capacity of 108 beds has been completed now and the hospital has
commenced operations from 8th April 2014. The expansion at Terna, Navi Mumbai
has also completed and new medical equipments and facilities have been
introduced.
Recently, the Registered
Office of the Company has been shifted to new premises within Pune.
CURRENT YEAR OPERATIONS
The Company has achieved
net revenue of Rs. 870.833 Million during the five months period ending August,
2014 as against Rs. 743.731 Million in the corresponding period of the previous
year showing growth of 17%. As informed above the Company has chalked out
detailed marketing strategy to improve the revenue and achieve the improved
operating profitability.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Guarantees outstanding |
|
|
|
Corporate guarantee given to banks |
|
|
|
i. Given on behalf of Surya Hospitals Private
Limited |
|
|
|
Amount of guarantee |
107.300 |
0.000 |
|
Outstanding balance of loan against the guarantee |
78.398 |
0.000 |
|
ii. Given on behalf of Sahyadri Karad Hospitals
Private Limited |
|
|
|
Amount of guarantee |
248.000 |
248.000 |
|
Outstanding balance of loan against the guarantee |
105.344 |
154.964 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Leasehold improvements
·
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. 63.64 |
|
|
1 |
Rs. 96.81 |
|
Euro |
1 |
Rs. 71.51 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
26 |
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.