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|
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image015.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
497453 |
|
Report Date : |
12.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MIDMARK (INDIA) PRIVATE LIMITED (w.e.f. 13.01.2016) |
|
|
|
|
Formerly Known
As : |
JANAK HEALTHCARE PRIVATE LIMITED METALBEDS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Janak House,
Opposite Indian Oil Corporation Depot, Antop Hill, Sheikh Mistry Road, Wadala
(East), Mumbai - 400037, Maharashtra |
|
Tel. No.: |
91-22-24180637 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.12.1999 |
|
|
|
|
Com. Reg. No.: |
11- 122868 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 31.450 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100MH1999PTC122868 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0388153261 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCM0219N1ZG |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM02400G /
MUMM24031A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM0219N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and dealing in medical furniture and equipment. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was
incorporated in the year 1999. It is a subsidiary of Midmark
Corporation, USA. It is engaged in manufacturing and dealing in medical
furniture and equipment. As per the
financial records of 2017, the company has achieved a decent growth of 19.97%
in its revenue as compared to the previous year and has earned an average net
profit margin of 4.91%. The company
possesses healthy financial position marked by adequate net worth base along
with low debt balance sheet profile and satisfactory liquidity position. Rating takes
into consideration the company’s fair Earnings Per Share (EPS) of INR 19.90
as against its Face Value (FV) of INR 10. Business is
active. Payments seems to be usually correct. In view of
aforesaid, the company can be considered for business dealings at usual trade
terms and condition. |
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 12.08.2018
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 DENIED
Management Non-Cooperative (91-22-24180637)
LOCATIONS
|
Registered Office : |
Janak House,
Opposite Indian Oil Corporation Depot, Antop Hill, Sheikh Mistry Road, Wadala
(East), Mumbai - 400037, Maharashtra, India |
|
Tel. No.: |
91-22-24180637/
24150408/ 24130407/ 49153000/24120171 |
|
Fax No.: |
91-22-24139870/2418063 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Kalpataru Point,
Unit No. 12, 1st Floor, Opposite Cinemax Theatre, Sion (East), Mumbai -
400022, Maharashtra, India |
|
Tel. No.: |
91-22-49153000 |
|
Fax No.: |
91-22-49153100 |
|
|
|
|
Factory : |
A-1/3, G.I.D.C. Estate,
Umbergaon, District Valsad-390171, Gujarat, India |
|
Tel. No.: |
91-260-2562406/
2562706/ 2563516/ 2562416 |
|
Fax No.: |
91-260-2562706 |
|
|
|
|
Branch Office : |
Tel.
No. 91-33-24187163
Tel No.: 91-22--24120171022-24120171 Fax No.: 022-24139870
Tel.
No: 91-11-25794892/25794764/25794764
Tel No.: 91-44-28158075/28158075/ 28156356 Fax No.: 91- 44-28156356 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sumeet Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
401, 4th Floor, La Mer Building, Kandeshwari Temple Road,
Bandra (West), Mumbai - 400050, Maharashtra,
India |
|
Date of Birth/Age : |
01.02.1978 |
|
Qualification: |
MBA |
|
Date of Appointment : |
17.11.2016 |
|
DIN No.: |
07648661 |
|
PAN No.: |
ABVPA5863F |
|
|
|
|
Name : |
Mr. Thomas Daniel Schwieterman |
|
Designation : |
Director |
|
Address : |
3610,Carpenters Creek Dr Cincinnati 452413822, United
States |
|
Date of Birth/Age : |
23.06.1967 |
|
Qualification: |
Medical Doctor |
|
Date of Appointment : |
03.08.2016 |
|
DIN No.: |
07567469 |
|
|
|
|
Name : |
Mr. Vijay Paliwal |
|
Designation : |
Director |
|
Address : |
219 Denwood trl Clayton 45315, United States |
|
Date of Birth/Age : |
20.05.1977 |
|
Qualification: |
MBA |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
02903223 |
|
PAN No.: |
BRWPP4814K |
|
|
|
|
Name : |
Mr. John Baumann Quentin |
|
Designation : |
Director |
|
Address : |
8075, Point Lane
Cincinnati, Ohio USA Cincinnati 45243 United States |
|
Date of Birth/Age : |
01.03.1957 |
|
Qualification: |
Bachelor of Business Administration |
|
Date of Appointment : |
23.02.2016 |
|
DIN No.: |
02136921 |
|
|
|
|
Name : |
Mr. Robert James Morris |
|
Designation : |
Nominee Director |
|
Address : |
1822 Lexington Drive Troy 48084 United States |
|
Date of Birth/Age : |
06.04.1963 |
|
Qualification: |
Bachelor of Science in accounting, Graduate of
Harvard Business School |
|
Date of Appointment : |
07.04.2012 |
|
DIN No.: |
01394704 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Midmark Corporation, USA |
|
3144174 |
|
Midmark Ventures LLC, USA |
|
826 |
|
Total |
|
3145000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 21.06.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and dealing in medical furniture and equipment. (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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||||
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Imports : |
Not Divulged |
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|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
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 : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Tower 3, 27Th-32Nd Floor, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone Road (West), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Fellow Subsidiary
company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5020000 |
Equity Shares |
INR 10/- each |
INR 50.200 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3145000 |
Equity Shares |
INR 10/- each |
INR 31.450 Million |
|
|
|
|
|
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 |
31.450 |
31.450 |
31.450 |
|
(b) Reserves and Surplus |
442.808 |
380.231 |
346.367 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
474.258 |
411.681 |
377.817 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.720 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.767 |
|
(c) Other long-term
liabilities |
1.086 |
1.086 |
1.086 |
|
(d) long-term
provisions |
13.143 |
9.840 |
8.474 |
|
Total Non-current
Liabilities (3) |
17.949 |
10.926 |
10.327 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
64.711 |
46.009 |
15.520 |
|
(b) Trade
payables |
319.116 |
182.515 |
148.531 |
|
(c) Other
current liabilities |
107.110 |
84.415 |
88.504 |
|
(d) Short-term
provisions |
25.026 |
16.073 |
10.303 |
|
Total Current
Liabilities (4) |
515.963 |
329.012 |
262.858 |
|
|
|
|
|
|
TOTAL |
1008.170 |
751.619 |
651.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
83.235 |
90.159 |
87.717 |
|
(ii)
Intangible Assets |
1.800 |
3.597 |
6.561 |
|
(iii) Tangible assets
capital work-in-progress |
44.640 |
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) |
10.252 |
6.178 |
0.000 |
|
(d)
Long-term loans and advances |
54.048 |
35.864 |
31.795 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
193.975 |
135.798 |
126.073 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
188.197 |
172.757 |
160.804 |
|
(c) Trade
receivables |
534.390 |
337.527 |
233.079 |
|
(d) Cash and
bank balances |
64.109 |
84.468 |
109.657 |
|
(e)
Short-term loans and advances |
27.169 |
20.414 |
20.515 |
|
(f) Other
current assets |
0.330 |
0.655 |
0.874 |
|
Total
Current Assets |
814.195 |
615.821 |
524.929 |
|
|
|
|
|
|
TOTAL |
1008.170 |
751.619 |
651.002 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1273.443 |
1061.443 |
867.204 |
|
|
Other Income |
8.974 |
9.597 |
9.082 |
|
|
TOTAL
|
1282.417 |
1071.040 |
876.286 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
644.615 |
545.352 |
450.610 |
|
|
Purchases of Stock-in-Trade |
24.505 |
11.083 |
18.796 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(8.541) |
5.175 |
6.702 |
|
|
Employees benefits expense |
206.016 |
191.972 |
126.896 |
|
|
Other expenses |
296.717 |
249.672 |
208.162 |
|
|
TOTAL |
1163.312 |
1003.254 |
811.166 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
119.105 |
67.786 |
65.120 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.415 |
1.530 |
0.768 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
113.690 |
66.256 |
64.352 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
18.186 |
18.242 |
22.702 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
95.504 |
48.014 |
41.650 |
|
|
|
|
|
|
|
Less |
TAX |
32.927 |
14.150 |
14.561 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
62.577 |
33.864 |
27.089 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
286.322 |
252.457 |
230.600 |
|
|
|
|
|
|
|
|
Depreciation on transition to schedule II of Companies act 2013 (net of deferred tax) |
0.000 |
0.000 |
(1.717) |
|
|
|
|
|
|
|
|
Dividend including dividend
tax |
0.000 |
0.000 |
(3.515) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
348.899 |
286.322 |
252.457 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
19.960 |
6.124 |
|
|
TOTAL
EARNINGS |
NA |
19.960 |
6.124 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials and Components |
NA |
NA |
60.460 |
|
|
Traded Goods |
NA |
NA |
12.863 |
|
|
TOTAL
IMPORTS |
NA |
NA |
73.323 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
19.90 |
10.77 |
8.61 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.753 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
45.712 |
(26.591) |
29.258 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
13.880 |
(45.073) |
10.535 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
153.17 |
116.07 |
98.10 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.38 |
3.14 |
3.72 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
174.08 |
119.72 |
115.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.63 |
0.39 |
0.40 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.92 |
0.72 |
0.69 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.44 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.15 |
0.11 |
0.04 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.09 |
0.80 |
0.70 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.27 |
0.23 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
22.00 |
44.30 |
84.79 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.91 |
3.19 |
3.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.21 |
4.51 |
4.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.19 |
8.23 |
7.17 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.58 |
1.87 |
2.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.21 |
1.35 |
1.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.55 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.20 |
1.46 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.58 |
1.87 |
2.00 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
31.450 |
31.450 |
31.450 |
|
Reserves & Surplus |
346.367 |
380.231 |
442.808 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
377.817 |
411.681 |
474.258 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
3.720 |
|
Short Term borrowings |
15.520 |
46.009 |
64.711 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.753 |
|
Total
borrowings |
15.520 |
46.009 |
69.184 |
|
Debt/Equity
ratio |
0.041 |
0.112 |
0.146 |
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image022.gif)
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
|
867.204 |
1061.443 |
1273.443 |
|
|
|
22.398 |
19.973 |
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image024.gif)
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
|
867.204 |
1061.443 |
1273.443 |
|
Profit |
27.089 |
33.864 |
62.577 |
|
|
3.12% |
3.19% |
4.91% |
%20PRIVATE%20LIMITED%20-%20497453_MIRA%2012-Mar-2018_files/image026.gif)
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 |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR
In FY 2016-2017 the Company has witnessed an increase of 17% in sales as
compared to the last FY 2015-2016, which was due to some of the large orders
from Government sector.
The Company continues thrust on large as well small orders across the
country thereby expanding the customer base. The Company is also in the process
of soft launching some new products in medical furniture industry. However the
Company will continue to focus on various cost control measures and on
improving productivity. Further the continuous thrust of the government on
spending in the Healthcare sector is also expected to have positive impact on
the sales of the Company.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G49767403 |
100114015 |
HDFC BANK LIMITED |
02/06/2017 |
- |
- |
272725000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G10450120 |
100047222 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
16/08/2016 |
- |
- |
75000000.0 |
52/60 M G
ROADFORTMUMBAIMH400001IN |
|
3 |
A81459364 |
10015448 |
HDFC BANK LIMITED |
18/08/2006 |
30/01/2010 |
- |
126500000.0 |
HDFC BANK HOUSESENAPATI
BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
4 |
G73016685 |
80010040 |
HDFC BANK LIMITED |
12/04/2004 |
30/12/2017 |
- |
291225000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
Y10242961 |
90143191 |
DENA BANK |
29/12/2000 |
07/07/2003 |
24/07/2004 |
24000000.0 |
SION
BRANCHMUMBAIMH400022IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
PRESS RELEASES
MIDMARK INDIA
PLANS TO INCREASE EXPORTS
AUGUST 07, 2017
Mulls entry into
Bangladesh, Nepal
Midmark India, a fully-owned subsidiary of Midmark Corporation and a leading provider of medical furniture, is aiming to increase the revenue share from exports by up to four times by 2020, said a top official.
“Currently, we export medical furniture, which works to 3% of our revenue,” said Sumeet Aggarwal, managing director, Midmark India Private Limited. “Our plan is to increase exports to 10-12% of revenue in three years by [entering] newer markets such as Bangladesh and Nepal.”
Its U.S.-based parent acquired Janak Healthcare Private Limited in 2014 for an undisclosed sum. The company operates in four areas: medical furniture including hospital beds and OPD spaces, diagnostics, home care and skill development. For the last 15 years, Janank Healthcare has been exporting its products to more than 30 countries and it had received “good responses in Russia, Africa and West Asia.”
Adding that Midmark India had been growing at 20% annually against industry growth of 14%, he said the existing demand outstripped its production capacity. Mr. Aggarwal said the firm has invested close to ₹15 crore on a nano-technology based medical device manufacturing plant in Gujarat, which cuts down production time. “From now, painting will be done at a faster rate, while we have to produce more hospital beds to match with the new facility,” he said.
Right now, Midmark is producing 25,000 beds, including accessories, in Gujarat and it would be increased to 35,000 beds over the next two months. “Our aim is to produce 50,000 beds by 2023. It is a ‘Made in India’ product with some imported parts,” he said.
Stating that State governments were showing interest in their products, Mr. Aggarwal said they had set up 15 experimental centres in the country to showcase their barrier-free OPD room, advanced motorised, patient positioning systems and digital diagnostic solutions. “State government share has increased from 5% to 40%. Besides, five more experience centres are in the pipeline,” he said.
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
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.