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MIRA INFORM REPORT
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Report No. : |
490378 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
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Name : |
WIPRO GE HEALTHCARE PRIVATE LIMITED (w.e.f. 16.01.2007) |
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Formerly Known
As : |
WIPRO GE MEDICAL SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
No. 4, Whitefield Main
Road, Sadaramangala Industrial Area, Kadugodi, Bangalore –
560067, Karnataka |
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Tel. No.: |
91-80-28452923/ 41801000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
14.03.1990 |
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Com. Reg. No.: |
08-016063 |
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Capital
Investment / Paid-up Capital : |
INR 105.100 Million |
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CIN No.: [Company Identification
No.] |
U33111KA1990PTC016063 |
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IEC No.: |
0390017779 |
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GSTIN No.: |
Not Divulged |
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TIN/VAT No.: |
19200886064 |
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CST No.: |
19200886258 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACW1685J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Manufacturer and trader of medical equipments. [Confirmed by Management] · The Company manufactures and trades in medical equipments. Further, it is also engaged in providing software services and technology solutions to its parent for products manufactured worldwide. The Company is also engaged in the business of trading of medical diagnostic products and imaging agents including contrast media and nuclear medicine cold kits, engineering related services for products manufactured worldwide, renders Information Technology (‘IT’) and IT enabled services and accounting services to its group companies. [Registered Activity] |
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No. of Employees
: |
10000 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is subsidiary of “General Electric Company”, USA, which ranks 13th in the list of fortune 500 companies and holds 51% stake in the subject company. The company was incorporated in the year 1990. It is engaged in manufacturing and trading of Medical Equipments. For the financial year 2016, the revenue of the company has increased by 12.02% along with profit margin of 2.89%. The strong financial profile of the company marked by healthy networth base along with strong debt coverage indicators due to low debt balance sheet profile. The company has decent earning per share (EPS) of INR 110.15 against the face value (FV) of INR 10. Rating takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Rating also derives strength from company’s established track record of business. Business is active. Payment terms are reported to be regular. In view of aforesaid, the company can be considered for business dealings with usual trade terms and conditions. Note 1: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. Note 2: The correct name of the company is “Wipro GE Healthcare Private Limited”. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
31-03-2016.
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 07.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Amit Gandhi |
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Designation : |
Commercial Manager |
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Contact No.: |
91-7506266615 |
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Name : |
Mr. Sagar |
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Designation : |
Accounts Department |
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Contact No.: |
91-8155054425 |
LOCATIONS
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Registered Office : |
No. 4, Whitefield Main
Road, Sadaramangala Industrial Area, Kadugodi, Bangalore –
560067, Karnataka, India |
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Tel. No.: |
91-80-28452923 / 41801000 |
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Mobile No.: |
91-8155054425 (Mr. Sagar) 91-7506266615 (Mr. Amit Gandhi) |
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Fax No.: |
91-80-28452924 / 41801290 |
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E-Mail : |
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Website : |
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Head Office : |
122, Part 1, EPIP, Whitefield, Bangalore – 560066, Karnataka, India |
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Corporate Office : |
6th Floor, Windsor Buiplding, Windsor Lane, Kalina, Near
University, Santacruz (East), Mumbai – 400098, Maharashtra, India |
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Tel. No.: |
91-22-61227200 |
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Branch Office 1 : |
881, Solitaire Corporate Part, 167, Guru Hargovindji Marg, Andheri – Ghatkopar
Link Road, Chakala, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-28393926/ 28393695 |
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Fax No.: |
91-22-28393702 |
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Branch Office 2 : |
211, 2nd Floor, Wing-B, Mondeal Heights, SG Road, Ahmedabad
– 380015, Gujarat, India |
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Locality : |
Commercial |
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Branch Office : |
Also Located at
: ·
Pune ·
Delhi ·
Ahmedabad ·
Chennai ·
Hyderabad ·
Gurugram ·
Bangalore ·
Bhopal ·
Kolkata ·
Chandigarh ·
Cochin ·
Jaipur ·
Lucknow ·
Mumbai ·
New Delhi ·
Secunderabad |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Nalinikanth Gollagunta |
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Designation : |
Managing Director |
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Address : |
201, Sesha 1-D, Divyasree Elan, Sarjapur
Road, Bangalore – 560103, Karnataka, India |
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Date of Appointment : |
01.10.2017 |
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DIN No.: |
07906313 |
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Name : |
Mr. Suresh Chandra Senapaty |
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Designation : |
Director |
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Address : |
301, Brigade Lavelle I, Lavelle Road, Bangalore – 560001, Karnataka,
India |
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Date of Birth/Age : |
03.03.1957 |
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Qualification : |
B.com, FCA |
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Date of Appointment : |
25.01.1995 |
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PAN No.: |
AAIPS5825K |
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DIN No.: |
00018711 |
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Other
Directorship :
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Name : |
Mr. Azim Hasham Premji |
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Designation : |
Director |
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Address : |
Mr. Azim H Premji, 75,133,135/1,136/1, Doddakannalli Village, Sarjapur
Road, Bangalore – 560035, Karnataka, India |
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Date of Birth/Age : |
24.09.1945 |
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Qualification : |
Graduate in Electrical Engineering |
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Date of Appointment : |
30.03.1990 |
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PAN No.: |
AIRPP9181G |
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DIN No.: |
00234280 |
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Other
Directorship :
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Name : |
Mr. Pratik Kumar |
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Designation : |
Director |
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Address : |
421/A Palm Meadows 2 PH, Whitefield Road, Ramagondanahalli, Bangalore –
560066, Karnataka, India |
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Date of Birth/Age : |
23.10.1965 |
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Qualification : |
B.A., MBA |
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Date of Appointment : |
02.05.2002 |
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DIN No.: |
00328453 |
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Other
Directorship :
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Name : |
Mr. Rishad Azim Premji |
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Designation : |
Director |
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Address : |
C-8, Epsilon Villa, Yemlur Marathahalli, Bangalore – 560037,
Karnataka, India |
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Date of Birth/Age : |
09.01.1977 |
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Qualification : |
MBA |
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Date of Appointment : |
23.09.2010 |
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DIN No.: |
02983899 |
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Other
Directorship :
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Name : |
Mr. Karim Karti |
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Designation : |
Director |
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Address : |
42 Academy Gardens, Ducheses of Bedford Walk, London, W87QQ, United
Kingdom |
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Date of Birth/Age : |
30.09.1968 |
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Qualification : |
B.tech |
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Date of Appointment : |
12.09.2014 |
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DIN No.: |
06971826 |
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Name : |
Mr. Monish D Patolawala |
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Designation : |
Director |
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Address : |
5803 Woodmere Drive Hinsdale, Il60521 Hinsdale 60521 USA |
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Date of Appointment : |
04.11.2015 |
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DIN No.: |
07308091 |
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Name : |
Mr. Charles Percy Nugent |
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Designation : |
Director |
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Address : |
541 E Erie St# 517 Milwaukee, Wi 53202 Milwaukee – 53202, USA |
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Date of Appointment : |
27.04.2016 |
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DIN No.: |
07489281 |
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Name : |
Mr. Tekkethalakkal Kurien Kurien |
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Designation : |
Additional Director |
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Address : |
Flat. 701-Eta Beau Monde €“ 7th Floor, 17
Benson Cross Road, Benson Town, Bangalore – 560046, Karnataka, India |
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Date of Appointment : |
12.09.2017 |
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DIN No.: |
03009368 |
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Other
Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Amit Gaurishankar Pandey |
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Designation : |
Company Secretary |
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Address : |
Flat No. 911, SMR Vinay Endeavour, Near Hoodi Circle, Bangalore – 560048, Karnataka, India |
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Date of Appointment : |
01.12.2016 |
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PAN No.: |
AGQPP0381B |
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Name : |
Mr. Amit Gandhi |
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Designation : |
Commercial Manager |
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Name : |
Mr. Sagar |
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Designation : |
Accounts Department |
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Name : |
Mr. Mulchand |
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Designation : |
Supervisor |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
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No. of Shares |
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General Electric Company, United States |
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5360825 |
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Wipro Enterprises Private Limited, India |
|
5150597 |
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GE Pacific Holding Pte Limited, Singapore |
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1 |
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Total |
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10511423 |
Equity Share Break up (Percentage of Total Equity)
AS ON 20.07.2017
|
Category |
Percentage |
|
Promoter (Bodies
corporate) |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Manufacturer and trader of medical equipments. [Confirmed by Management] · The Company manufactures and trades in medical equipments. Further, it is also engaged in providing software services and technology solutions to its parent for products manufactured worldwide. The Company is also engaged in the business of trading of medical diagnostic products and imaging agents including contrast media and nuclear medicine cold kits, engineering related services for products manufactured worldwide, renders Information Technology (‘IT’) and IT enabled services and accounting services to its group companies. [Registered Activity] |
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Products/Services : |
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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 : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users
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No. of Employees : |
10000 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
BSR and Associates LLP Chartered Accountants |
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Address : |
Maruthi Infotech Center, 11-12/1, Koramangla Ineer Ring Road , Bangalore – 560071, Karnataka, India |
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PAN No.: |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding and
Ultimate Holding Company : (As on 20.07.2017) |
· General Electric Company, USA |
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Subsidiary : (As on 20.07.2017) |
· GE Healthcare Bangladesh Limited |
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Associate : (As on 20.07.2017) |
· Genworks Health Private Limited (U24230KA2015PTC078753) |
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Subsidiary : (As on 20.07.2017) |
· Genworks Health Private Limited (formerly known as GE Medical Systems Limited, Bangladesh) |
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Enterprise having
substantial interest in the Company Parties under common control : (As on 20.07.2017) |
· GE Healthcare Global Parts Company, Inc. · GE Medical Systems Information Technologies, Inc. · GE Hangwei Medical Systems Company, Limited · GE Medical Systems Societe en Commandite Simple · GE Ultrasound Korea Limited · GE Healthcare (Tianjin) Company, Limited · GE Healthcare Bio-Sciences AB · GE Healthcare Japan Corporation · GE Healthcare Bio-Sciences Limited · GE Healthcare Finland Oy · Beijing GE Hualun Medical Equipment Company Limited · GE Medical Systems (China) Company, Limited · GE Medical Systems, Ultrasound and Primary Care Diagnostics LLC · GE Healthcare Austria GmbH and Company OG · GE Healthcare Pte Limited · GE Medical Systems Information Technologies GmbH · GE Medical Systems Trade and Development (Shanghai) Company, Limited · GE BE Private Limited · GE Healthcare FZE · GE Medical Systems Israel Limited · GE Operations Indonesia, PT · GE Vingmed Ultrasound A/S · GE Healthcare Limited · Parallel Design SAS · GE Parallel Design Inc. · GE Healthcare Inc. · GE Healthcare Korea · GE Healthcare UK Limited · GE Healthcare do Brasil Comercio e Servicos para Equipamentos Medico-Hospitalares Limited A. · GE Medical Systems Turkiye Limited Sirketi · GE Healthcare Australia Pty Limited · Datex-Ohmeda, Inc. · GE Medical Systems Taiwan Limited · General Electric El Seif Healthcare Arabia Company Limited · OEC Medical Systems, Inc. · GE Medical Systems Hong Kong Limited · GE Medical Systems Italia SpA · GE Medical Systems Monterrey Mexico SA de CV · GE Medical Systems Egypt LLC · GE Healthcare GmbH · GE Medical Systems (Thailand) Limited · General Electric Healthcare Espana, S.A.U. · GE Medical Systems Polska Sp. Z.O.O. · GE Medical Systems Limited · GE Sensing and Inspection Technologies GmbH · Parties under common control General Electric Philippines, Inc. · General Electric Canada · GE Healthcare Norge AS · General Electric International Operations Company, Inc. · GE Sistemas Medicos de Mexico, SA de CV · GE Vietnam Limited · GE Healthcare Sverige AB · GE Healthcare Danmark A/S · GE Hungary KFT · GE Healthcare B.V. · GE Healthcare Sdn Bhd · General Electric Portuguesa, S.A. · Vital Signs, Inc. · General Electric International, Inc. · GE Global Sourcing India Private Limited · GE Healthcare AS · GE Healthcare Ireland · USA Instruments, Inc · GE Healthcare IITS USA Corp. · GE Healthcare Bio-Sciences Corp. · Xpro Sistemas Ltda. · GE Healthcare Information Technologies GmbH and Company KG · GE OEC Medical Systems GmbH · GE Healthcare BVBA · GEMS PET Systems AB · VersaMed Medical Systems Limited · GE (China) Company, Limited · GE India Industrial Private Limited · GE India Technology Centre Private Limited · GE Industrial Belgium BVBA · GE Power Conversion Technology Private Limited · General Electric International (Benelux) BV · General Electric Deutschland Holding GmbH · GE Medical Systems Global Technology Company, LLC · General Electric Saudi Arabia Limited · GE India Exports Private Limited · General Electric Energy (Hangzhou) Company Limited · PT GE Technology Indonesia · GE Capital Services India · General Electric Capital Corporation · GE Money Financial Services Private Limited · U-Systems, Inc. · API Healthcare Corporation · HyClone Laboratories, Inc. · GE East Africa Services Limited · General Electric South Africa (Pty) Limited · Monogram Licensing International Inc. |
CAPITAL STRUCTURE
AS ON 20.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
INR 10/- each |
INR 110.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10511423 |
Equity Shares |
INR 10/- each |
INR 105.114 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
105.100 |
105.100 |
105.100 |
|
(b) Reserves and Surplus |
7542.000 |
6384.200 |
5666.400 |
|
(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 |
7647.100 |
6489.300 |
5771.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
183.900 |
170.400 |
214.100 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
1245.300 |
1438.500 |
1099.700 |
|
(d) long-term
provisions |
929.900 |
498.400 |
605.700 |
|
Total Non-current
Liabilities |
2359.100 |
2107.300 |
1919.500 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
750.000 |
|
(b) Trade
payables |
5924.200 |
4913.900 |
5643.600 |
|
(c) Other
current liabilities |
6941.400 |
5305.100 |
5045.400 |
|
(d) Short-term
provisions |
1236.900 |
682.100 |
311.100 |
|
Total Current
Liabilities |
14102.500 |
10901.100 |
11750.100 |
|
|
|
|
|
|
TOTAL |
24108.700 |
19497.700 |
19441.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2666.500 |
2715.300 |
2533.100 |
|
(ii) Intangible
Assets |
682.800 |
711.000 |
650.700 |
|
(iii) Tangible assets
capital work-in-progress |
188.900 |
201.200 |
347.300 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.800 |
0.000 |
53.900 |
|
(c) Deferred tax assets (net) |
585.500 |
275.800 |
164.100 |
|
(d)
Long-term loans and advances |
2446.600 |
2612.400 |
2837.000 |
|
(e) Other
Non-current assets |
3.300 |
1.700 |
99.800 |
|
Total Non-Current
Assets |
6581.400 |
6517.400 |
6685.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3500.300 |
3528.500 |
2788.200 |
|
(c) Trade
receivables |
5961.400 |
5416.500 |
5644.300 |
|
(d) Cash and
bank balances |
1302.200 |
1382.700 |
1306.800 |
|
(e)
Short-term loans and advances |
6380.400 |
2450.500 |
2590.700 |
|
(f) Other
current assets |
383.000 |
202.100 |
425.200 |
|
Total
Current Assets |
17527.300 |
12980.300 |
12755.200 |
|
|
|
|
|
|
TOTAL |
24108.700 |
19497.700 |
19441.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
39999.300 |
35707.400 |
34398.500 |
|
|
Other Income |
315.100 |
243.900 |
208.400 |
|
|
TOTAL |
40314.400 |
35951.300 |
34606.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5010.300 |
5054.200 |
7100.900 |
|
|
Purchases of
Stock-in-Trade |
18903.900 |
17410.700 |
14857.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
344.300 |
(316.500) |
70.300 |
|
|
Employee benefit expense |
6338.400 |
5801.000 |
5375.500 |
|
|
CSR expenditure |
9.900 |
3.100 |
0.000 |
|
|
Other expenses |
7271.600 |
6122.900 |
5647.100 |
|
|
TOTAL |
37878.400 |
34075.400 |
33051.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2436.000 |
1875.900 |
1555.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
98.400 |
90.800 |
262.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2337.600 |
1785.100 |
1293.400 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
714.500 |
680.000 |
563.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1623.100 |
1105.100 |
729.700 |
|
|
|
|
|
|
|
Less |
TAX |
465.300 |
387.300 |
91.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1157.800 |
717.800 |
638.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
12782.800 |
9967.300 |
|
|
|
Software income (gross) |
7510.000 |
6756.800 |
|
|
|
Commission on sales (gross) |
380.800 |
340.100 |
|
|
|
Service income (gross) |
110.800 |
117.600 |
|
|
|
Reimbursements of expenses |
260.900 |
211.100 |
|
|
|
TOTAL EARNINGS |
21045.300 |
17392.900 |
11711.100 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3409.700 |
3586.900 |
3587.700 |
|
|
Capital Goods |
231.100 |
390.300 |
360.000 |
|
|
TOTAL IMPORTS |
3640.800 |
3977.200 |
3947.700 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
110.15 |
68.29 |
60.73 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
136.000 |
161.400 |
157.200 |
|
Net cash flows from (used in) operations |
909.700 |
2146.400 |
59.000 |
|
Net cash flows from (used in) operating activities |
476.300 |
1658.800 |
(62.500) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
54.40 |
55.37 |
59.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.71 |
6.59 |
6.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
90.42 |
79.84 |
93.81 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.70 |
0.53 |
0.56 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.69 |
0.52 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.58 |
0.62 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.04 |
0.05 |
0.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.84 |
1.68 |
2.04 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.46 |
0.56 |
0.61 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
24.76 |
20.66 |
5.93 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.89 |
2.01 |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.80 |
3.68 |
3.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.14 |
11.06 |
11.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.19 |
1.09 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.99 |
0.87 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.33 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.04 |
3.16 |
10.67 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.19 |
1.09 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Share Capital |
105.100 |
105.100 |
105.100 |
|
Reserves & Surplus |
5666.400 |
6384.200 |
7542.000 |
|
Net worth |
5771.500 |
6489.300 |
7647.100 |
|
|
|
|
|
|
Long-term borrowings |
214.100 |
170.400 |
183.900 |
|
Short term borrowings |
750.000 |
0.000 |
0.000 |
|
Current Maturities of
Long term debt |
157.200 |
161.400 |
136.000 |
|
Total borrowings |
1121.300 |
331.800 |
319.900 |
|
Debt/Equity ratio |
0.194 |
0.051 |
0.042 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Sales |
34398.500 |
35707.400 |
39999.300 |
|
|
|
3.805 |
12.020 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Sales |
34398.500 |
35707.400 |
39999.300 |
|
Profit / (Loss) |
638.400 |
717.800 |
1157.800 |
|
|
1.86% |
2.01% |
2.89% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from A1, Golden Enclave, Airport Road, Bangalore – 560017, Karnataka,
India to the present address w.e.f.
20.12.2011.
COMPANY OVERVIEW (As
on 31.03.2016)
The Company or ‘Transferee Company’, a private limited Company, is a joint venture between General Electric Company, USA (‘GE’ or ‘the parent’) and Wipro Enterprises Limited (‘Wipro’).
The Company is focused towards healthcare segment in South Asia. The Company manufactures and trades in medical equipments. Further, it is also engaged in providing software services and technology solutions to its parent for products manufactured worldwide. The Company is also engaged in the business of trading of medical diagnostic products and imaging agents including contrast media and nuclear medicine cold kits, engineering related services for products manufactured worldwide, renders Information Technology (‘IT’) and IT enabled services and accounting services to its group companies.
COMPANYS PERFORMANCE
DURING THE YEAR/STATE OF COMPANYS AFFAIRS (As on 31.03.2016)
The Company’s income from operations for the financial year ended on March 31, 2016 stood at INR 39999.300 Million recording a 12% increase from the previous year. Net profit after tax was at INR 1157.800 Million, which represented a 61% increase over the prior year. The Company is continuing its force to drive volumes in India and neighboring countries. The company has continued to introduce products in the matter as per it’s in country for Country strategy. The company continued to leverage the Genworks distribution channel to increase reach.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C48471817 |
80044247 |
22/04/1996 |
11/03/2015 |
- |
350000000.0 |
Corporate Banking Branch, No - 30, Rallaram, Memorial Building, CSI Compound, Mission Road, Bangalore - 560027 |
|
2 |
B18750182 |
80055452 |
22/02/1996 |
- |
16/08/2011 |
10000000.0 |
Anna Salai, Madras – 600002, Tamilnadu, India |
|
3 |
A74021957 |
80055453 |
01/04/1996 |
- |
16/06/2009 |
10000000.0 |
Raheja Point, Bangalore – 560025, Karnataka, India |
|
4 |
A73808255 |
80055447 |
10/02/1995 |
- |
15/06/2009 |
40000000.0 |
Dickenson Road, Bangalore – 560042, Karnataka, India |
|
5 |
A73806861 |
80055450 |
30/06/1997 |
- |
15/06/2009 |
150000000.0 |
Manipal Centre, Bangalore – 560042, Karnataka, India |
|
6 |
A73808883 |
80055449 |
28/12/1995 |
- |
15/06/2009 |
70000000.0 |
Dickenson Road, Bangalore – 560042, Karnataka, India |
|
7 |
A73807729 |
80055451 |
08/04/2002 |
- |
08/06/2009 |
80000000.0 |
Bangalore – 560001, Karnataka, India |
|
8 |
A74020934 |
80055454 |
16/01/1996 |
- |
30/05/2009 |
230000000.0 |
M.G. Road, Bangalore – 560001, Karnataka, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
5064.700 |
5760.100 |
|
Guarantees |
13.300 |
58.200 |
FIXED ASSETS:
· Land
· Buildings
· Office building
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 records 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 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
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.