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MIRA
INFORM REPORT
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Report No. : |
494127 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
RADIANT LIFE CARE PRIVATE LIMITED [w.e.f.06.02.2018] |
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Formerly Known
As : |
HALCYON FINANCE AND CAPITAL ADVISORS PRIVATE LIMITED |
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Registered
Office : |
Hoechst House, Ground Floor, Opposite Oberoi Tower, Nariman Point, Mumbai
- 400021, Maharashtra |
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Tel. No.: |
91-22-22846000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
05.02.2010 |
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Com. Reg. No.: |
11-199781 |
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Capital
Investment / Paid-up Capital : |
INR 12.749 Million |
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CIN No.: [Company Identification
No.] |
U74110MH2010PTC199781 |
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IEC No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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GST No.: |
27AACCH3374B1ZW |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCH3374B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Rendering Management and Consultancy Services to
Organizations in various sectors such as Healthcare, Entertainment and Media,
Manufacturing, 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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010. For the financial year ended 2017, the company has achieved a massive growth in its revenue as compared to the previous year but has incurred operational losses. The company possesses healthy financial position marked by above average net worth base. However, rating is constrained on account of high debt balance sheet profile. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. NOTE: Radiant Life Care Private Limited has been amalgamated with Halcyon Finance and Capital Advisors Private Limited on 1st January 2018. On 5th February 2018, Halcyon Finance and Capital Advisors Private Limited had changed its name to Radiant Life Care 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.
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 27.02.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-22846000]
LOCATIONS
|
Registered Office : |
Hoechst House, Ground Floor, Opposite Oberoi Tower, Nariman Point, Mumbai
- 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22846000 |
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Fax No.: |
91-22-26172286 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Sanjay Omprakash Nayar |
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Designation : |
Nominee Director |
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Address : |
Flat No. 9, The Rushilla Co-Op Housing Society Ltd, 17/C Carmichael Road, Mumbai - 400026, Maharashtra, India |
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Date of Appointment : |
30.10.2017 |
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DIN No.: |
00002615 |
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Name : |
Mr. Mahendra Gumanmalji Lodha |
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Designation : |
Director |
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Address : |
85, Sunrise Park Opposite Drive-in Road, Thaltej, Ahmedabad - 380054, Gujarat, India |
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Date of Appointment : |
30.10.2017 |
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DIN No.: |
00012920 |
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Name : |
Mr. Narayan Keelveedhi Seshadri |
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Designation : |
Nominee Director |
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Address : |
Flat No.10, 7th Floor, Skylark CHS Ltd, Little Gibbs Road, Malabar Hill, Mumbai -400006, Maharashtra, India |
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Date of Birth/Age : |
13.04.1957 |
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Date of Appointment : |
21.08.2017 |
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DIN No.: |
00053563 |
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Name : |
Mr. Abhay Soi |
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Designation : |
Managing Director |
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Address : |
Apartment 4 West, 4th Floor, Haribhavan CHS 64, Peddar Road, Mumbai - 400026, Maharashtra, India |
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Date of Birth/Age : |
19.08.1973 |
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Date of Appointment : |
05.02.2010 |
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DIN No.: |
00203597 |
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Name : |
Mr. Naresh Kapoor |
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Designation : |
Whole-time Director |
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Address : |
Flat No. A024, The Icon DLF City, Phase V, Gurgaon - 122002, Haryana, India |
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Date of Appointment : |
30.10.2017 |
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DIN No.: |
02294348 |
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Name : |
Mr. Nikhilkumar Srivastava |
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Designation : |
Nominee Director |
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Address : |
Raheja Vivarea, Flat No. 2203, C Wing, 22nd Floor, Anandrao Nair Marg, Jacob Circle, Mumbai - 400011, Maharashtra, India |
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Date of Appointment : |
21.08.2017 |
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DIN No.: |
07308617 |
KEY EXECUTIVES
|
Name : |
Ms. Prachi Singh |
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Designation : |
Company Secretary |
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Address : |
54, Suryodaya Apartments, Pocket 8 , Sector 12, Dwarka, New Delhi - 110078, India |
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Date of Appointment : |
30.10.2017 |
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PAN No.: |
AVLPS1472J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Abhay Soi |
|
268653 |
|
Aditya Soi |
|
1 |
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Sociedade De Fomento Industrial Private Limited |
|
4090 |
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Total |
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272744 |
AS ON: 27.11.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters (Individual/Hindu Undivided Family - Indian) |
98.50 |
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Public/Other than promoters (Body corporate) |
1.50 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Rendering Management and Consultancy Services to
Organizations in various sectors such as Healthcare, Entertainment and Media,
Manufacturing, 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 : |
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Facilities : |
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Auditors : |
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Name : |
VMRS and Company Chartered Accountants |
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Address : |
Shah Arcade 1, A Wing, 1St Floor, Rani Sati Marg, Malad (East), Mumbai
- 400097, Maharashtra, India |
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Tel. No.: |
91-22-28884504/ 4510 |
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Fax No.: |
91-22-28881721 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AADFV7105Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Companies: |
· Infrahealth Pte. Limited, Singapore · Radiant Life Care Private Limited (till December 2016) * [U74899MH2000PTC243438] · Radiant Life Care Mumbai Private Limited (w.e.f. January 2017) [U85191MH2014PTC255294] · Radiant Life Care Foundation [U85100MH2016NPL274780] · Radiant Life Care (Delhi) Private Limited - (Under the process of winding up since 16 March 2016) [U85110DL2010PTC197718] * Consequent to
the amalgamation being effective, merged with the company on appointed date |
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Associate Company: |
Radiant Life Care Mumbai Private Limited ** ** Consequent to
the amalgamation being effective, become subsidiary of the company w.e.f.
January 2017. |
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Entities in which directors Interested: |
· Neo Legno Productes Private Limited · Shrem Developers LLP |
CAPITAL STRUCTURE
AFTER 30.09.2016
Authorised Capital : INR 270.000 Million
Issued, Subscribed & Paid-up Capital : INR 3.973
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
INR 10/- each |
INR 270.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
272744 |
Equity Shares |
INR 10/- each |
INR 2.727 Million |
|
|
Add: Forfeited Equity Shares |
|
INR 10.022
Million |
|
|
|
|
|
|
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Total |
|
INR 12.749 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
12.749 |
12.749 |
12.749 |
|
(b) Reserves & Surplus |
413.312 |
1024.558 |
1021.301 |
|
(c) Money received against share warrants |
13.333 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
439.394 |
1037.307 |
1034.050 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3777.205 |
15.000 |
15.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
154.600 |
0.000 |
0.000 |
|
(d)
long-term provisions |
10.529 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
3942.334 |
15.000 |
15.000 |
|
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|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
600.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
44.996 |
0.849 |
0.375 |
|
(c)
Other current liabilities |
230.341 |
42.602 |
45.620 |
|
(d)
Short-term provisions |
0.258 |
0.074 |
0.678 |
|
Total
Current Liabilities (4) |
875.595 |
43.525 |
46.673 |
|
|
|
|
|
|
TOTAL |
5257.323 |
1095.832 |
1095.723 |
|
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|
|
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|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
35.323 |
0.326 |
0.546 |
|
(ii)
Intangible Assets |
668.234 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1261.721 |
980.165 |
980.193 |
|
(c) Deferred tax assets
(net) |
13.938 |
0.077 |
0.053 |
|
(d) Long-term Loan
and Advances |
2738.094 |
110.001 |
109.700 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4717.310 |
1090.569 |
1090.492 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
141.911 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
177.863 |
1.091 |
0.000 |
|
(d)
Cash and cash equivalents |
6.275 |
0.772 |
3.148 |
|
(e)
Short-term loans and advances |
6.681 |
0.097 |
0.000 |
|
(f)
Other current assets |
207.283 |
3.303 |
2.083 |
|
Total
Current Assets |
540.013 |
5.263 |
5.231 |
|
|
|
|
|
|
TOTAL |
5257.323 |
1095.832 |
1095.723 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
311.411 |
12.000 |
14.585 |
|
|
|
Other Income |
55.474 |
0.368 |
8.039 |
|
|
|
TOTAL |
366.885 |
12.368 |
22.624 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
23.400 |
3.444 |
11.815 |
|
|
|
Other expenses |
37.109 |
3.997 |
3.463 |
|
|
|
TOTAL |
60.509 |
7.441 |
15.278 |
|
|
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|
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|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
306.376 |
4.927 |
7.346 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
334.943 |
0.017 |
0.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(28.567) |
4.910 |
7.307 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.700 |
0.333 |
0.507 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
(38.267) |
4.577 |
6.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(10.867) |
1.320 |
2.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX |
(27.400) |
3.257 |
4.788 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
(100.46) |
11.94 |
17.60 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term borrowings |
12.500 |
0.000 |
NA |
|
|
|
|
|
|
Cash used in operations |
(93.655) |
(0.465) |
54.531 |
|
|
|
|
|
|
Net Cash (used in) Operating Activities |
(130.011) |
(2.264) |
52.441 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
208.47 |
33.18 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.75 |
11.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.44 |
15.11 |
13.45 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.89 |
0.05 |
0.06 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
9.99 |
0.01 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.99 |
0.04 |
0.05 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.60 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.91 |
289.82 |
188.36 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(8.80) |
27.14 |
32.83 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.52) |
0.30 |
0.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(6.24) |
0.31 |
0.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.62 |
0.12 |
0.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.62 |
0.12 |
0.11 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.08 |
0.95 |
0.94 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
344.32 |
1.18 |
1.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.62 |
0.12 |
0.11 |
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 |
12.749 |
12.749 |
12.749 |
|
Reserves & Surplus |
1021.301 |
1024.558 |
413.312 |
|
Money received against share
warrants |
0.000 |
0.000 |
13.333 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1034.050 |
1037.307 |
439.394 |
|
|
|
|
|
|
long-term borrowings |
15.000 |
15.000 |
3777.205 |
|
Short term borrowings |
0.000 |
0.000 |
600.000 |
|
Total
borrowings |
15.000 |
15.000 |
4389.705 |
|
Debt/Equity
ratio |
0.015 |
0.014 |
9.990 |
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 |
14.585 |
12.000 |
311.411 |
|
|
|
(17.724) |
2,495.092 |
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 |
14.585 |
12.000 |
311.411 |
|
Profit/(Loss) |
4.788 |
3.257 |
(27.400) |
|
|
32.83% |
27.14% |
(8.80%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.749 |
12.749 |
|
(b) Reserves & Surplus |
|
373.104 |
1332.314 |
|
(c) Money received against share warrants |
|
13.333 |
13.333 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
585.067 |
606.830 |
|
Total
Shareholders’ Funds (1) + (2) |
|
984.253 |
1965.226 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
3777.205 |
25.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
154.600 |
0.000 |
|
(d)
long-term provisions |
|
11.804 |
4.597 |
|
Total
Non-current Liabilities (3) |
|
3943.609 |
29.597 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
600.000 |
4105.137 |
|
(b)
Trade payables |
|
72.499 |
23.012 |
|
(c)
Other current liabilities |
|
246.056 |
48.301 |
|
(d)
Short-term provisions |
|
0.285 |
48.012 |
|
Total
Current Liabilities (4) |
|
918.840 |
4224.462 |
|
|
|
|
|
|
TOTAL |
|
5846.702 |
6219.285 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
35.357 |
3.012 |
|
(ii)
Intangible Assets |
|
1500.852 |
1582.397 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
7.136 |
|
(c) Deferred tax assets
(net) |
|
13.938 |
0.620 |
|
(d) Long-term Loan
and Advances |
|
3523.492 |
3453.121 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
5073.639 |
5046.286 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
301.937 |
490.898 |
|
(b)
Inventories |
|
0.000 |
287.588 |
|
(c)
Trade receivables |
|
209.860 |
31.145 |
|
(d)
Cash and cash equivalents |
|
23.426 |
102.164 |
|
(e)
Short-term loans and advances |
|
29.592 |
25.690 |
|
(f)
Other current assets |
|
208.248 |
235.514 |
|
Total
Current Assets |
|
773.063 |
1172.999 |
|
|
|
|
|
|
TOTAL |
|
5846.702 |
6219.285 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
336.217 |
94.506 |
|
|
|
Other Income |
|
211.975 |
239.920 |
|
|
|
TOTAL |
|
548.192 |
334.426 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
|
127.254 |
82.173 |
|
|
|
Other expenses |
|
124.883 |
61.596 |
|
|
|
TOTAL |
|
252.137 |
143.769 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
296.055 |
190.657 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
377.898 |
55.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(81.843) |
134.995 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
34.273 |
10.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
|
(116.116) |
124.679 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(29.665) |
64.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
(86.451) |
59.898 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
|
(316.97) |
219.61 |
|
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 |
No |
|
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 |
No |
|
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 |
No |
|
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 |
G36490720 |
100078867 |
VISTRA ITCL (INDIA)
LIMITED |
02/11/2016 |
- |
- |
1400000000.0 |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA
EASTMUMBAIMA400051IN |
|
2 |
G36492452 |
100082155 |
VISTRA ITCL (INDIA)
LIMITED |
02/11/2016 |
- |
- |
2950000000.0 |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA
EASTMUMBAIMA400051IN |
|
3 |
C77134799 |
10617187 |
PUNJAB NATIONAL
BANK |
08/10/2015 |
- |
- |
450000000.0 |
RAJENDRA PLACE
BRANCH17,PRABHAT KIRAN BUILDING, RAJENDRA PLACENEW DELHIDL110008IN |
|
4 |
G76804343 |
100039431 |
SIEMENS FINANCIAL
SERVICES PRIVATE LIMITED |
29/06/2016 |
- |
15/02/2018 |
50000000.0 |
130, PANDURANG
BUDHKAR MARG,WORLIMUMBAIMA400018IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Director |
70.180 |
15.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loan from Financial Institution |
600.000 |
0.000 |
|
|
|
|
|
Total |
670.180 |
15.000 |
BACKGROUND
The company was incorporated on February 5, 2010 and is presently
engaged in rendering management and consultancy services to organizations in
various sectors such as healthcare, entertainment and media, manufacturing,
etc. either directly or indirectly or through its subsidiaries and associates. Radiant
Life Care Private Limited (RLCPL), a wholly owned subsidiary of Halcyon amalgamated
with Halcyon with effect from 1 January 2017. RLCPL (Amalgamating company)
engaged in the business of setting up, maintaining, managing and operating
hospitals (whether with or without a medical school), nursing institutes and nursing
homes, clinics and medical centers offering medical facilities and operate,
manage or exploit them and also providing education in respect of and providing
all services generally required in hospitals, nursing homes, medical centers,
clinics and healthcare facilities.
FINANCIAL PERFORMANCE
During the year, the Company's operations for the financial year ended as at March 31, 2017 resulted in net loss of INR 27.401 million as compared to net profit of INR 3.257 million in previous financial year
BRIEF DESCRIPTION OF THE COMPANY'S WORKING
DURING THE YEAR/STATE OF COMPANY'S AFFAIRS
During the year, the Company acquired 99.07% shareholding of Radiant Life Care Pvt. Ltd. ('RLCPL') from Infrahealth Pte. Ltd. (Tnfrahealth') making RLCPL its wholly owned subsidiary company, for an aggregate consideration of INR 4260.000 million on 16th November 2016. This acquisition was funded by way of debt financing of INR 4450.000 million from KKR (a Global Private Equity Firm) and KKR group entities in India.
Further, The Hon'ble High Court of Judicature at Bombay vide its order dated 9th December 2016 sanctioned the Demerger Scheme under Sections 391 to 394 read with Sections 100 to 104 of the Companies Act, 1956 and Section 52 of the Companies Act, 2013 between the Company, Neo Legno Products Private Limited ("Neo Legno") and their respective shareholders. The Demerger Scheme is effective from 17th February 2017. Pursuant to the Demerger Scheme, all the assets and liabilities pertaining to the Company's non-healthcare division have been transferred to and vested in Neo Legno with retrospective effect from the appointed date as per Demerger Scheme i.e. 1st April 2015 at their respective book values appearing in the books of Halcyon. Accordingly, the Scheme has been given effect to in these financial statements.
In view of the demerger as described above, the figures for the current year are not comparable with those of previous year.
AMALGAMATION:
Radiant Life care private Limited (RLCPL) a wholly owned subsidiary of the company, amalgamated with the company, with effect of 1 January 2017 (the appointed date). The amalgamation was pursuant to the scheme of amalgamation, “the scheme” sanctioned by the national company law tribunal, Mumbai bench (NCLT) vide their order dated 24 August 2017 (effective date). Pursuant thereto all the assets movable and immovable, rights, title and interests, secured borrowings and all other duties, debt, liabilities, undertakings and obligations of RLCPL, have been transferred to and vested in the company retrospectively with effect from 1 January 2017, The scheme has been given effect to in these financial statements and accordingly
- The amalgamation has been accounted for under the “purchase method” as prescribed under accounting standing 14-accounting for amalgamation (AS 14) issued by the institute of chartered accountants of India and as notified under section 133 of the companies act 2013 read with rule 7 of the companies accounts rules 2014.
- All the assets, liabilities of transfer company were recorded in the books of the company at their fair vale amounts and in the same form as at the appointed date.
- Since RLCPL was wholly owned by the company, no shares were exchanged to effect the amalgamation. The equity share capital and securities premium account of the RLCPL company and the carrying value of investment in equity shares of the RLCPL in the books of the company stands cancelled.
- Inter-corporate balances between the company and RLCPL shall cancelled.
- The company has recognized intangible assets of operation and management rights of Dr. B I Kapoor memorial hospital to the extent of goodwill arising on amalgamation, as required by accounting standard 26 Accounting for intangible assets (AS 25) issued by the institute of chartered accountants of India as notified under section 133 of the companies act 2013 read with rule 7 of the companies accounts rules 2014.
- Pending completion of the formalities of transfer of titles of some of the assets taken over under the scheme, such assets remain included in the books of the company under the name of the transferor companies.
According, the amalgamation has resulted in transfer of assets, liabilities and reserves in accordance with the terms of the scheme at the following summarized value.
Summary significant accounting policies and other explanatory information to the standalone financial statement as at and for year ended 31 March 2017
|
Particulars |
Balances as
on 01.01.2017 |
|
Assets |
|
|
Fixed assets |
84.240 |
|
Noncurrent investments |
915.420 |
|
Deferred tax assets |
2.982 |
|
Long term loan and advances |
2708.812 |
|
Current investments |
134.333 |
|
Trade receivables |
43.423 |
|
Cash and cash equipment’s |
1.923 |
|
Short term loans and advantages |
9.434 |
|
Other current assets |
274.727 |
|
|
|
|
LIABILITIES |
|
|
Employee stock option outstanding |
(49.569) |
|
Money received against share warrants |
(13.333) |
|
Long term borrowings |
(31.250) |
|
Long term provisions |
(11.644) |
|
Trade payable |
(167.315) |
|
Other current liabilities |
(176.974) |
|
Short term provisions |
(0.238) |
|
|
3724.969 |
|
|
|
|
Adjustment for cancellation of company’s investment |
(4353.616) |
|
Recognition of unrecognized intangible assets of operation and management rights of Kapoor memorial hospital |
628.646 |
FIXED ASSETS:
· Plant and Machinery
· Furniture and Fixture
· Office Equipment
· Vehicles
· Computer
· Goodwill on Business Takeover
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 64.66 |
|
UK Pound |
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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.