MIRA INFORM REPORT
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Report No. : |
344947 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
AUROLAB TRUST |
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Registered
Office : |
No.1 Anna Nagar, Aravind Eye Hospital, Madurai - 625020, Tamilnadu |
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Tel. No.: |
91-452-2446100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Year of
Establishment : |
1992 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
3592001850 |
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TIN No.: |
33914880631 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MRIA00304D |
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PAN No.: [Permanent Account No.] |
AAATA1142P |
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Legal Form : |
Trust |
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Line of Business
: |
Manufacturer and Exporter of intraocular lenses, ophthalmic drugs, suture needle and instruments, pharmaceutical products, surgical blades. |
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No. of Employees
: |
750 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in 1992 as a non-profit charitable trust and it is the manufacturer and exporter of intraocular lenses, suture needle and instruments, pharmaceutical products, surgical blades etc. Mr. Alexander, Business Development Manager has provided all information of the subject and claimed that the trust has achieved revenue of Rs.1000.000 Million for the year 2013-14 and Rs.1200.000 Million for the year 2014-15 which is not verified. Rating takes into consideration long track record of operations
and well experienced trustees of the trust. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of experienced trustees, subject can be considered for business
dealings at usual trade terms and conditions. Note: Trust audited
financials are not available from any sources. |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
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Name : |
Mr. Alexander |
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Designation : |
Business Development Manager |
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Contact No.: |
91-452-2446100 |
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Date : |
15.10.2015 |
LOCATIONS
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Registered Office : |
No.1 Anna Nagar, Aravind Eye Hospital, Madurai - 625020, Tamilnadu, India |
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Tel. No.: |
91-452-2446100 |
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Fax No.: |
91-452-2446200 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
No: 1, Sivagangai Main Road, Veerapanjan, Madurai - 625020, Tamilnadu, India |
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Area : |
3 Acres |
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Location : |
Owned |
MANAGEMENT
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Name : |
Mr. R.D Thulasiraj |
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Designation : |
President - Director-Operations - AECS |
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Qualification : |
MBA |
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Name : |
Mr. G. Srinivasan |
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Designation : |
Trustee, Director - Finance-AECS |
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Qualification : |
BE |
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Name : |
Dr.P.Namperumalsamy |
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Designation : |
Trustee, Chairman Emeritus-AECS |
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Qualification : |
MBBS, DO, MS |
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Name : |
Dr. G Natchiar |
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Designation : |
Trustee, Director Emeritus - AECS |
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Qualification : |
MBBS, DO, MS |
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Name : |
Dr. R. Kim |
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Designation : |
Trustee, Director-IT & Technology, AECS |
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Qualification : |
MBBS, DO, DNB. |
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Name : |
Mr. Vishnuprasad |
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Designation : |
Trustee |
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Name : |
Dr. S. Aravind |
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Designation : |
Secretary, Director-Projects - AECS |
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Qualification : |
MBBS, DO, MBA |
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Name : |
Dr. P. Balakrishnan |
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Designation : |
Trustee |
KEY EXECUTIVES
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Name : |
Mr. Alexander |
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Designation : |
Business Development Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of intraocular lenses, ophthalmic drugs, suture needle and instruments, pharmaceutical products, surgical blades. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Pharmaceutical Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
750 (Approximately) |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Million]
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Particulars |
|
31.03.2015 |
31.03.2014 |
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Sales Turnover (Approximately) |
|
1200.000 |
1000.000 |
The above information has been parted by Mr. Alexander (Business
Development Manager).
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
YEAR-ON-YEAR GROWTH
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Year on Year Growth |
31.03.2014 |
31.03.2015 |
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|
(Rs. In Million) |
(Rs. In Million) |
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Sales Turnover (Approximately) |
1000.000 |
1200.000 |
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|
20.000 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
No |
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5 |
Buyer visit details |
---- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
Yes |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last two years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
No |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
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33 |
Market information |
--- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
WEBSITE DETAILS
Aurolab, based in southern part of India, is an integral part of the Aravind Eye Care System. It manufactures a wide range of high quality ophthalmic consumables such as intraocular lenses, surgical sutures, pharmaceutical products, surgical blades and equipments.
Though its primary focus is on ophthalmic segment, Aurolab is diversifying into related health care areas where its existing capabilities can be leveraged, such as cardiovasular sutures, microsurgical hand sutures, antiseptics and disinfectant solutions, spectacle cleaner etc.
Aurolab's growth and product development criteria are driven by societal needs for high quality products at affordable prices. All Aurolab products are manufactured on efficient production lines with strict quality assurance measures that comply with US FDA, EU GMP, WHO GMP norms. Aurolab’s products are exported to 130 and more countries worldwide, with focus markets like India, Africa, Latin America, Central America and Southeast Asia. Aurolab envisages entering European and other developed markets on the strength of its product quality and as a strategic means to cross subsidized products in needy markets.
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.64.96 |
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|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
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Information
Gathered by : |
PRT |
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Analysis Done by
: |
HNA |
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Report Prepared
by : |
SNT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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.