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|
MIRA INFORM REPORT
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Report No. : |
487620 |
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Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
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Name : |
VASCULAR CONCEPTS LIMITED (w.e.f.15.09.2006) |
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Formerly Known
As : |
VASCULAR CONCEPTS
PRIVATE LIMITED |
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Registered
Office : |
Flat No. 701, Sahyog Building, 7th Floor, 58, Nehru Place, New Delhi -
110019 |
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Tel. No.: |
91-80-23438146/ 49 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
25.05.1992 |
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Com. Reg. No.: |
55-141596 |
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Capital
Investment / Paid-up Capital : |
INR 15.785 Million |
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CIN No.: [Company Identification
No.] |
U33119DL2005PLC141596 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACM8353R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Processing and Trading in various
kinds of Medical Devices Consisting of Bare Metal and Drug Eluting Stents,
Catheters, Balloons, Occlusion Devices and their Accessories. (Registered Activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1493000 |
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Status : |
Good |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Vascular Concepts (Holdings) Limited”, United Kingdom. The company was incorporated in the year 1992. For the financial year 2017, the company has reported decline in its revenue as compared to previous year and has incurred operational loss. The sound financial profile of the company is marked by adequate networth base along with strong debt coverage indicators due to low debt balance sheet profile. The rating takes into consideration strong financial and managerial support that company receives from its holding entity backed by its well experience management team. The rating also takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating strengths are partially offset by foreign exchange fluctuation risk, growing competition in the industry Business is active. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities BB + |
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Rating Explanation |
Moderate risk of default. |
|
Date |
05.12.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short term Bank Facilities A4+ |
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Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
05.12.2017 |
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 25.01.2018
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.: 91-80-23438146)
LOCATIONS
|
Registered Office : |
Flat No. 701, Sahyog Building, 7th Floor, 58, Nehru Place, New Delhi –
110019, India |
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Tel. No.: |
91-80-23438146/ 49 |
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Fax No.: |
91-80-23439205 |
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E-Mail : |
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Website : |
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Locality : |
Commercial cum Industrial |
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Corporate Office : |
No. 19, SV Complex, Bellary Road, Hebbal, Bangalore - 560024, Karnataka, India |
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Tel. No.: |
91-80-23438146/ 49 |
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Fax No.: |
91-80-23439205 |
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Factory : |
Plot No: 7C, Kiadb Industrial Area, Bashetthalli, Doddaballapur, Bangalore – 561203, India |
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Tel. No.: |
91-80-27622712 |
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Other Branches : |
Located at:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Swaminathan Mayuram Jayaraman |
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Designation : |
Managing Director |
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Address : |
No 32-3-2 11th Cross 8th Main Malleshwaram, Bangalore
-560003, Karnataka, India |
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Date of Birth/Age : |
04.12.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.05.1992 |
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DIN No : |
00235900 |
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Name : |
Mr. Lakshminarasimhan Krishnan |
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Designation : |
Director |
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Address : |
No. 135, 4th Main 3rd Cross, Hal 3rd Stage, Bangalore - 560075, Karnataka, India |
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Date of Birth/Age : |
01.04.1961 |
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Date of Appointment : |
15.04.2014 |
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DIN No : |
02930312 |
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Other
Directorship :
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Name : |
Mr. Keelara Veeregowda Shreeram |
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Designation : |
Director |
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Address : |
No. 860, 17th G Main Road, Rajajinagar, Bangalore -
560010, Karnataka, India |
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Date of Birth/Age : |
23.05.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.12.2014 |
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DIN No : |
06684104 |
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Other Directorship
:
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Name : |
Mr. Devanand Subba Reddy |
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Designation : |
Director |
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Address : |
No.20, 3rd Cross, Near Rajiv Gandhi Dental College,
Gundappa Reddy Lt, Cholanayakanahalli, R T Nagar, Bengaluru - 560032,
Karnataka, India |
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Date of Birth/Age : |
15.03.1964 |
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Qualification : |
S.S.L.C |
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Date of Appointment : |
18.10.2016 |
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DIN No : |
07258995 |
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MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Vascular Concepts Holdings Limited |
137404 |
87.04 |
|
Vascular Concepts Limited, UK |
20400 |
12.92 |
|
P S Subramanian |
10 |
0.01 |
|
Deepak Wadhwa |
10 |
0.01 |
|
N K Zaveri |
10 |
0.01 |
|
Piyush Dwivedi |
10 |
0.01 |
|
Alok Arora |
10 |
0.01 |
|
Total |
157854 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
0.03 |
|
Promoters (Body corporate) |
99.97 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Processing and Trading in
various kinds of Medical Devices Consisting of Bare Metal and Drug Eluting Stents,
Catheters, Balloons, Occlusion Devices and their Accessories. (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 : |
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 denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
SVR and Associates Chartered Accountants |
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Address : |
S - 3, 2nd Floor, Mangalam Chambers, No. 25, K H Road, Bangalore-560027, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAQFS5657M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Vascular Concepts (Holdings) Limited, United Kingdom |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 100/- each |
INR 20.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
157854 |
Equity Shares |
INR 100/- each |
INR 15.785 Million |
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FINANCIAL DATA
[all figures are
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 |
15.785 |
15.785 |
15.785 |
|
(b) Reserves and Surplus |
507.031 |
508.378 |
505.914 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
522.816 |
524.163 |
521.699 |
|
|
|
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.815 |
2.220 |
5.266 |
|
(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 |
42.928 |
36.813 |
35.522 |
|
Total Non-current
Liabilities |
44.743 |
39.033 |
40.788 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
47.233 |
146.619 |
|
(b) Trade
payables |
182.743 |
209.469 |
232.366 |
|
(c) Other
current liabilities |
35.721 |
35.722 |
23.717 |
|
(d) Short-term
provisions |
3.706 |
8.890 |
10.702 |
|
Total Current
Liabilities |
222.170 |
301.314 |
413.404 |
|
|
|
|
|
|
TOTAL |
789.729 |
864.510 |
975.891 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
57.815 |
60.252 |
64.576 |
|
(ii)
Intangible Assets |
0.554 |
0.441 |
0.494 |
|
(iii) Tangible assets
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
14.874 |
12.603 |
11.049 |
|
(d)
Long-term loans and advances |
75.466 |
32.557 |
20.430 |
|
(e) Other
Non-current assets |
0.517 |
1.961 |
3.519 |
|
Total Non-Current
Assets |
149.226 |
107.814 |
100.068 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
252.984 |
303.129 |
337.505 |
|
(c) Trade
receivables |
330.586 |
430.072 |
499.035 |
|
(d) Cash and
bank balances |
52.451 |
19.942 |
35.658 |
|
(e) Short-term
loans and advances |
4.482 |
3.553 |
3.625 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
640.503 |
756.696 |
875.823 |
|
|
|
|
|
|
TOTAL |
789.729 |
864.510 |
975.891 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
755.771 |
953.236 |
1039.169 |
|
|
Other Income |
14.928 |
(13.618) |
4.607 |
|
|
TOTAL |
770.699 |
939.618 |
1043.776 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
237.021 |
239.744 |
375.050 |
|
|
Purchases of
Stock-in-Trade |
79.071 |
47.621 |
27.831 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
52.467 |
73.353 |
(0.761) |
|
|
Employee benefit expense |
136.347 |
139.233 |
140.882 |
|
|
CSR expenditure |
0.000 |
0.247 |
0.000 |
|
|
Other expenses |
254.324 |
411.871 |
489.318 |
|
|
Prior period items before tax |
0.000 |
0.000 |
0.144 |
|
|
Exceptional items before tax |
0.073 |
0.821 |
0.000 |
|
|
TOTAL |
759.303 |
912.890 |
1032.464 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
11.396 |
26.728 |
11.312 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.522 |
14.119 |
(2.691) |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.874 |
12.609 |
14.003 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
10.492 |
9.401 |
10.920 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(3.618) |
3.208 |
3.083 |
|
|
|
|
|
|
|
Less |
TAX |
(2.271) |
0.745 |
1.420 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1.347) |
2.463 |
1.663 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
50.791 |
58.411 |
46.162 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
296.355 |
308.787 |
361.616 |
|
|
TOTAL IMPORTS |
296.355 |
308.787 |
361.616 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(8.533) |
15.603 |
1663000.000 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
71.444 |
30.896 |
7.705 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
29.175 |
17.950 |
0.221 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
159.66 |
164.68 |
175.28 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.29 |
2.22 |
2.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
211.02 |
266.06 |
210.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.05 |
0.09 |
0.03 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.20 |
0.44 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.28 |
0.35 |
0.43 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.09 |
0.29 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.42 |
0.57 |
0.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.11 |
0.12 |
0.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.52 |
1.89 |
(4.20) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(0.18) |
0.26 |
0.16 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(0.17) |
0.28 |
0.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(0.26) |
0.47 |
0.32 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.88 |
2.51 |
2.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.74 |
1.51 |
1.30 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.66 |
0.61 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.11 |
3.13 |
9.62 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.88 |
2.51 |
2.12 |
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 |
15.785 |
15.785 |
15.785 |
|
Reserves & Surplus |
505.914 |
508.378 |
507.031 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
521.699 |
524.163 |
522.816 |
|
|
|
|
|
|
long-term borrowings |
5.266 |
2.220 |
1.815 |
|
Short term borrowings |
146.619 |
47.233 |
0.000 |
|
Total
borrowings |
151.885 |
49.453 |
1.815 |
|
Debt/Equity
ratio |
0.291 |
0.094 |
0.003 |
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 |
1039.169 |
953.236 |
755.771 |
|
|
0.000 |
(8.269) |
(20.715) |
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 |
1039.169 |
953.236 |
755.771 |
|
Profit/ (Loss) |
1.663 |
2.463 |
(1.347) |
|
|
0.16
% |
0.26
% |
(0.18
%) |
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 |
Yes |
|
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 |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
CORPORATE INFORMATION
:
The company was incorporated as a Private Limited Company 0n 25th May 1992 and was subsequently converted into a Public Limited Company on 15th Sept 2006. The Company is primarily focused on Processing and trading in various kinds of Medical Devices consisting of Bare Metal and Drug Eluting Stents, Catheters, Balloons, Occlusion Devices and their Accessories. The Company has its registered office at New Delhi, Head Office and factory at Bangalore and branches all over India. As On 31 st March 2017, Vascular Concepts Holding Ltd along with its Subsidiary Company Vascular Concepts Limited U.K. owned 99.97% of the Company’s Equity Share Capital.
FINANCIAL REVIEW:
The operational details for the year 2016-17 are as below:
Total revenue from operations for the year ended 31st March 2017 is INR 755.771 Million as against INR 953.236 Million in the previous financial year. The Employees cost for the year is INR 136.347 Million as against INR 139.233 Million in the previous financial year.
The material cost for the year ended 31st March 2017 is INR 237.021 Million as against INR 239.744 Million in the previous financial year.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G44051555 |
80022358 |
STATE BANK OF INDIA |
03/12/1996 |
03/05/2017 |
280000000.0 |
DR.AMBEDKAR VEEDHI BRANCH, VISHVESWARYA TOWERS, GROUND FLOOR, RAJBHAVAN ROAD BANGALOREKA560001IN |
FIXED ASSETS
- Land
- Building
- Office
Building
- Plant and
Machinery
- Factory
Equipment
- Furniture and
Fixture
- Vehicles
- Motor Vehicle
- Office
Equipment
- Computer
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 63.64 |
|
|
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
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.