|
|
|
MIRA INFORM REPORT
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Report No. : |
505789 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MERIL ENDO SURGERY PRIVATE LIMITED |
|
|
|
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Registered
Office : |
No. 135/139, Bilakhia House, Muktanand Marg,
Chala, Vapi - 396191, |
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Tel. No.: |
91-260-3052100 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
10.05.2011 |
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|
|
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Com. Reg. No.: |
04-065366 |
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Capital Investment
/ Paid-up Capital : |
INR 1520.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U33110GJ2011PTC065366 |
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|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
24251001290 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
24AAHCM1942P1Z5 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAHCM1942P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Medical Impregnated Wadding, Gauze, Bandages, Dressings, Surgical Gut String etc. [Registered Activity] |
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|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Meril Endo Surgery Private Limited is promoted by
“Bilakhia Group” and also operates as a subsidiary of “Micro Life Sciences
Private Limited”. The company was incorporated in the year 2011 and is based
in Vapi,
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term borrowings = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
15.12.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term borrowings = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
15.12.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 26.04.2018.
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-260-3052100/ 22-30732400]
LOCATIONS
|
Registered Office : |
No. 135/139, Bilakhia House, Muktanand Marg, Chala, Vapi - 396191,
Gujarat, |
|
Tel. No.: |
91-260-3052100 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Corporate Headquarter : |
E1-E3, |
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Tel. No.: |
91-260-3052100 |
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Fax No.: |
91-260-3052125 |
|
|
|
|
Sales Office : |
601, Midas, |
|
Tel. No.: |
91-22-30732400 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Hem Chandra Panjikar |
|
Designation : |
Whole-time Director |
|
Address : |
0-104, |
|
Date of Birth/Age : |
01.02.1967 |
|
Qualification : |
BSC and PDHRM |
|
Date of Appointment : |
07.07.2015 |
|
PAN No.: |
ADGPP5347Q |
|
DIN No.: |
07230533 |
|
|
|
|
Name : |
Mr. Rajnikant Gandalal Vyas |
|
Designation : |
Director |
|
Address : |
B-602, Eternia, |
|
Date of Birth/Age : |
04.11.1945 |
|
Qualification : |
B.E.(Chemical) |
|
Date of Appointment : |
10.05.2011 |
|
PAN No.: |
AACPV0781F |
|
DIN No.: |
00837447 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders (Equity
Share) |
|
No. of Shares |
|
Micro Life Sciences Private Limited |
|
9999999 |
|
Micro Life Sciences Private Limited Jointly with Anjum Bilakhia |
|
1 |
|
Total |
|
10000000 |
|
Names of Shareholders (Preference
Share) |
|
No. of Shares |
|
Bilakhia Holdings Private Limited (12% Non-Convertible Non-Cumulative Redeemable Preference Share) |
|
17000000 |
|
Bilakhia Holdings Private Limited (9% Non-Convertible
Non-Cumulative Redeemable Preference Share) |
|
125000000 |
|
Total |
|
142000000 |
AS ON: 10.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medical Impregnated Wadding, Gauze, Bandages, Dressings, Surgical Gut String etc. [Registered Activity] |
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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 : |
Not Divulged |
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Imports : |
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 : |
Information declined by the management |
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Bankers : |
· RBL Bank Limited Shahupuri, Kolhapur - 416001, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Center, Tower-3, 27th-32nd Floor, Senapati Bapat Marg, Elphinstone Road, (West), Mumbai-400 013, Maharashtra. India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding
company : |
Bilakhia Holdings Private Limited [U67120GJ1992PTC017523] |
|
|
|
|
Holding company: |
Micro Life Sciences Private Limited [U24119GJ2006PTC048361] |
|
|
|
|
Fellow Subsidiaries of Holding Company: |
· Mexus Corporation Private Limited Mexus Technology Private Limited |
|
|
|
|
Fellow Subsidiary: |
· Meril Healthcare Private Limited Meril Life Sciences Private Limited |
|
|
|
|
Subsidiary
of Fellow Subsidiary: |
· Meril SA Pty. Limited., South Africa Meril Bangladesh Private Limited Meril GmbH Meril Tbbi Cihazlar Malat Ve Ticaret Anonim
irketi, Turkey |
CAPITAL STRUCTURE
AFTER 10.08.2017
Authorised Capital : INR 2020.000 Million
Issued, Subscribed & Paid-up Capital : INR 2020.000
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
145000000 |
Preference Shares |
INR 10/- each |
INR 1450.000 Million |
|
|
Total |
|
INR 1550.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
142000000 |
Preference Shares |
INR 10/- each |
INR 1420.000
Million |
|
|
Total |
|
INR 1520.000 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1520.000 |
1120.000 |
270.000 |
|
(b) Reserves and Surplus |
(1179.910) |
(734.705) |
(348.157) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
340.090 |
385.295 |
(78.157) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
75.000 |
150.000 |
224.999 |
|
(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 |
11.771 |
5.264 |
2.648 |
|
Total Non-current
Liabilities (3) |
86.771 |
155.264 |
227.647 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
602.621 |
267.367 |
591.291 |
|
(b) Trade
payables |
68.770 |
47.198 |
21.979 |
|
(c) Other
current liabilities |
141.736 |
107.837 |
52.552 |
|
(d) Short-term
provisions |
1.076 |
0.656 |
0.340 |
|
Total Current
Liabilities (4) |
814.203 |
423.058 |
666.162 |
|
|
|
|
|
|
TOTAL |
1241.064 |
963.617 |
815.652 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
413.043 |
428.103 |
433.554 |
|
(ii)
Intangible Assets |
44.087 |
37.856 |
34.579 |
|
(iii) Tangible assets
capital work-in-progress |
9.904 |
1.046 |
8.077 |
|
(iv)
Intangible assets under development |
42.734 |
22.668 |
3.841 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
12.610 |
9.329 |
7.546 |
|
(e) Other
Non-current assets |
12.607 |
9.095 |
5.883 |
|
Total Non-Current
Assets |
534.985 |
508.097 |
493.480 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
427.929 |
291.471 |
228.280 |
|
(c) Trade
receivables |
182.383 |
88.860 |
30.283 |
|
(d) Cash and
bank balances |
40.577 |
41.138 |
38.352 |
|
(e)
Short-term loans and advances |
49.225 |
32.712 |
23.637 |
|
(f) Other
current assets |
5.965 |
1.339 |
1.620 |
|
Total
Current Assets |
706.079 |
455.520 |
322.172 |
|
|
|
|
|
|
TOTAL |
1241.064 |
963.617 |
815.652 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
491.669 |
276.122 |
102.808 |
|
|
Other Income |
4.386 |
4.673 |
4.876 |
|
|
TOTAL |
496.055 |
280.795 |
107.684 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
295.732 |
119.296 |
108.174 |
|
|
Purchases of
Stock-in-Trade |
30.008 |
23.084 |
7.670 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(117.134) |
(31.234) |
(90.069) |
|
|
Employee benefit expense |
272.146 |
184.389 |
113.541 |
|
|
Other expenses |
352.488 |
273.711 |
185.972 |
|
|
TOTAL |
833.240 |
569.246 |
325.288 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(337.185) |
(288.451) |
(217.604) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
50.819 |
48.522 |
38.358 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(388.004) |
(336.973) |
(255.962) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
57.200 |
49.575 |
42.995 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(445.204) |
(386.548) |
(298.957) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(445.204) |
(386.548) |
(298.957) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(44.52) |
(38.65) |
(29.90) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
75.000 |
75.000 |
25.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(525.900) |
(379.100) |
(398.914) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(530.248) |
(382.517) |
(402.545) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
135.40 |
117.46 |
107.51 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.70 |
3.11 |
3.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
77.06 |
121.00 |
69.25 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.79) |
(0.99) |
(0.95) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.66) |
(0.59) |
(0.45) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.78 |
0.67 |
1.12 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.21 |
1.28 |
(10.76) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.39 |
1.10 |
(8.52) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.50 |
1.27 |
(6.14) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(6.64) |
(5.94) |
(5.67) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(90.55) |
(139.99) |
(290.79) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(35.87) |
(40.11) |
(36.65) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(130.91) |
(100.33) |
382.51 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.87 |
1.08 |
0.48 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.34 |
0.39 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.40 |
(0.10) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.50 |
0.44 |
3.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.87 |
1.08 |
0.48 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
270.000 |
1120.000 |
1520.000 |
|
Reserves & Surplus |
(348.157) |
(734.705) |
(1179.910) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(78.157) |
385.295 |
340.090 |
|
|
|
|
|
|
Long-term borrowings |
224.999 |
150.000 |
75.000 |
|
Short term borrowings |
591.291 |
267.367 |
602.621 |
|
Current maturities of
long-term debts |
25.000 |
75.000 |
75.000 |
|
Total
borrowings |
841.290 |
492.367 |
752.621 |
|
Debt/Equity
ratio |
(10.764) |
1.278 |
2.213 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
102.808 |
276.122 |
491.669 |
|
|
|
168.580 |
78.062 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
102.808 |
276.122 |
491.669 |
|
Profit/ (Loss) |
(298.957) |
(386.548) |
(445.204) |
|
|
(290.79
%) |
(139.99
%) |
(90.55
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G46019543 |
100103077 |
RBL BANK LIMITED |
22/05/2017 |
- |
- |
100000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
2 |
G46019113 |
10589016 |
RBL BANK LIMITED |
12/08/2015 |
22/05/2017 |
- |
340000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
3 |
G74292764 |
10516123 |
KOTAK MAHINDRA
BANK LIMITED |
30/07/2014 |
29/12/2017 |
- |
165000000.0 |
27BKC, C 27, G BLOCKBANDRA
KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
4 |
C04165023 |
10493790 |
AXIS BANK LIMITED |
29/04/2014 |
- |
- |
115000000.0 |
TRISHUL, 3RD
FLOOR, OPPOSITE SAMARTHESHWAR TEMPLE,LAW GARDEN, ELLIS
BRIDGE,AHMEDABADGJ380006IN |
|
5 |
B96709415 |
10478357 |
THE RATNAKAR BANK
LIMITED |
19/02/2014 |
- |
- |
250000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMH416001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
307.000 |
0.000 |
|
|
|
|
|
Total |
307.000 |
0.000 |
GENERAL INFORMATION
The Company is carrying on business as manufacturers, importers, exporters, dealers, stockists, wholesalers, retailers, suppliers, and agents in surgical goods & products like sutures – naturals or synthetic surgical dressings of all kinds, first aid kits, tissue sealant and articles of similar nature used for surgical purposes
PERFORMANCE REVIEW
The total revenue for the year ended March 31, 2017 was INR 496.055 million (previous year INR 280.796 million). The Company recorded loss of INR. 445.204 million during the year.
The
Company is making its best efforts to improve its profitability and management
is optimistic that efforts will reflect the better financial results in future.
There is no change in the nature of business of the Company.
FIXED ASSETS:
·
Plant and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipment’s
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
|
INR |
|
US Dollar |
1 |
INR 66.70 |
|
UK Pound |
1 |
INR 93.14 |
|
Euro |
1 |
INR 81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.