|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509402 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TAMIL NADU MEDICAL SERVICES CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
417, Pantheon Road, Egmore, Chennai-600008, Tamilnadu |
|
Tel. No.: |
91-44-28190259 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.07.1994 |
|
|
|
|
Com. Reg. No.: |
18-027939 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 40.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110TN1994SGC027939 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3400E |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Procurement, Storage and Distribution of Drugs, Medicines and Surgical Item, etc. for Government Hospitals, Primary Health Centers and other approved Institutions [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 540100 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Tamil Nadu Medical Services Corporation Limited, [TNMSC] was set up
with the primary objective of ensuring ready availability of all essential
drugs and medicines in the Government Medical Institutions throughout the
state by adopting a streamlined procedure for their procurement, storage and
distribution. It is owned by Government of Tamil Nadu. As per the financial records of 2017, the company has earned 11.75%
growth in its revenue as compared to the previous year and has reported a low
profitability margin. The satisfactory financial position of the company is marked by above
average net worth base along with modest liquidity position. Business is active. Payment seems to be usually correct. In view of aforesaid, the company ca be considered for business
dealing’s 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 18.05.2018
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 [91-44-28190259]
[91-44-28191890] Number is continuously ringing
[91-44-28190580] Not responding
LOCATIONS
|
Registered Office : |
417, Pantheon Road, Egmore, Chennai-600008, Tamilnadu, India |
|
Tel. No.: |
91-44-28190259 |
|
Fax No.: |
91-44-28190636/ 28190622 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Drug Warehouse : |
Located at: · Kanchipuram · Vellore · Triuvannamalal · Cuddalore · Dharmapuri · Salem · Perundhural [Erode] · Coimbatore · The Nilgris · Trichy · Pudhukottal · Dindigul · Madural · Virudhunagar · Sivagangal · Ramanathapuram · Tirunelveli · Tuticorin · Kanyakumari · Thanjavur · Villupuram · Annanagar, Chennai · KK Nagar, Chennai · Theni · Perambalur · Namakkal · Karur · Krishnagiri · Nagapattinam · Tiruvallur · Tiruppur |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Purushothaman Umanath |
|||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||
|
Address : |
S-4 Ias Officers Colony Govt Estate Anna Salai, Chennai-600002, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
17.03.2017 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
00121646 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Jaganathan Radhakrishnan |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
X1/Iii-4, Saf Games Village, Koyambedu, Chennai-600107, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.10.2012 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
00679734 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Karumanrgounder Kolandaswamy |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
7/1 Sreshta Riverside Apartments Wood, Creek Road, Nandambakkam-600089, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.08.2013 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
06702305 |
|||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Darez Ahamed |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
Central Park West Avenue, Apartment No -G-204 The Central Part South,Shoolinganallur, Chennai-600119, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.04.2016 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
07529710 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajamony Jayasingh |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
A - 4 Amethyst Silver Springs, Karanai Main Road, Arasan Kalani, Chennai-600130, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.12.2016 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
07730268 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Anandakumar Ramasamy |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
X-1, J-4, Saf Games Village, Koyambedu, Chennai0600107, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.09.1975 |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.12.2017 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
07858406 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Edwin Joe Amalraj |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
21,R.G Nagar, Sungam Bypass Road Ramanathapuram, Coimbatore South, Coimbator- 641045, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.05.2017 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
07879308 |
|||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Sivabalan |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
30, A/37 A, Gandhimathy Street, Vetri Nagar Jawahar Nagar, Chennai-600082, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.08.2017 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
07959806 |
|||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Raman Enbasekaran |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
6/920, Nethaji Nagar Trichy Road, Vagurampatti Namakkal-637001, Tamilnadu, India |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.11.2017 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
08013414 |
|||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Governor of Tamilnadu |
|
403991 |
|
Palaniyandi Senthil Kumar |
|
1 |
|
Jaganathan Radhakrishnan |
|
1 |
|
Tiru Shahul Hameed Abdul Khader |
|
1 |
|
Karumanr Gounder Kolandaswamy |
|
1 |
|
Thiru Rajamony Jayasingh |
|
1 |
|
Thiru Purushothaman Umanath |
|
1 |
|
K Senguttuvan |
|
1 |
|
R Naryanababu |
|
1 |
|
Darez Ahamed |
|
1 |
|
|
|
|
|
Total |
|
404000 |
AS ON: 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – State Government |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Procurement, Storage and Distribution of Drugs, Medicines and Surgical Item, etc. for Government Hospitals, Primary Health Centers and other approved Institutions [Registered Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
M L Natrajan Associates Chartered Accountants |
|
Address : |
21 Jambulingam Street, Nungambakkam, Chennai – 600034, Tamilnadu,
India |
|
PAN No.: |
AABPN9544M |
|
|
|
|
Internal Auditors
: |
|
|
Name : |
N Sathiyamoorthy and Associates Chartered Accountants |
|
Address : |
Chennai, Tamilnadu, India |
|
|
|
|
Name : |
B B Srinivasan and Associates Chartered Accountants |
|
Address : |
Vellore, Tamilnadu, India |
|
|
|
|
Name : |
M Lakshman and Company Chartered Accountants |
|
Address : |
Madurai, Tamilnadu, India |
|
|
|
|
Name : |
Raj and Sudha Chartered Accountants |
|
Address : |
Trichy, Tamilnadu, India |
|
|
|
|
Name : |
Arun and Company Chartered Accountants |
|
Address : |
Tirunelveli, Tamilnadu, India |
|
|
|
|
Name : |
SVSS and Company Chartered Accountants |
|
Address : |
Coimbatore, Tamilnadu, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 100/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
404000 |
Equity Shares |
INR 100/- each |
INR 40.400 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.400 |
40.400 |
40.400 |
|
(b) Reserves & Surplus |
148.643 |
146.888 |
146.281 |
|
(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) |
189.043 |
187.288 |
186.681 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
355.666 |
122.214 |
125.725 |
|
(b) Deferred tax liabilities (Net) |
1.477 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1.361 |
10.645 |
53.191 |
|
(d)
long-term provisions |
55.409 |
44.408 |
36.897 |
|
Total
Non-current Liabilities (3) |
413.913 |
177.267 |
215.813 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2226.411 |
7179.602 |
8707.810 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
1112.430 |
1124.028 |
954.348 |
|
(d)
Short-term provisions |
9.615 |
25.797 |
21.757 |
|
Total
Current Liabilities (4) |
3348.456 |
8329.427 |
9683.915 |
|
|
|
|
|
|
TOTAL |
3951.412 |
8693.982 |
10086.409 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
|
|
(ii)
Intangible Assets |
474.537 |
261.913 |
274.592 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
27.505 |
0.073 |
13.455 |
|
(b) Non-current
Investments |
57.444 |
44.368 |
39.417 |
|
(c) Deferred tax assets
(net) |
0.000 |
3.567 |
0.239 |
|
(d) Long-term Loan
and Advances |
1.698 |
1.693 |
1.677 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
561.184 |
311.614 |
329.380 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.029 |
0.906 |
0.744 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
76.560 |
87.565 |
133.247 |
|
(e)
Short-term loans and advances |
41.008 |
73.155 |
58.410 |
|
(f)
Other current assets |
3270.631 |
8220.742 |
9564.628 |
|
Total
Current Assets |
3390.228 |
8382.368 |
9757.029 |
|
|
|
|
|
|
TOTAL |
3951.412 |
8693.982 |
10086.409 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
406.793 |
364.034 |
335.230 |
|
|
|
Other Income |
3.877 |
2.550 |
2.699 |
|
|
|
TOTAL |
410.670 |
366.584 |
337.929 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
35.037 |
37.117 |
39.858 |
|
|
|
Other expenses |
307.031 |
275.857 |
245.817 |
|
|
|
Extraordinary Items |
0.000 |
5.000 |
0.000 |
|
|
|
TOTAL |
342.068 |
317.974 |
285.675 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
68.602 |
48.610 |
52.254 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
68.602 |
48.610 |
52.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
61.803 |
47.290 |
52.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
6.799 |
1.320 |
0.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.044 |
0.713 |
(1.004) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
1.755 |
0.607 |
1.154 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
4.34 |
1.50 |
2.86 |
|
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 |
|
|
|
|
|
|
Cash generated from operations |
68.957 |
21.006 |
140.754 |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
65.784 |
17.096 |
136.552 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
33.81 |
53.65 |
70.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.14 |
0.19 |
0.18 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.94 |
0.97 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
13.66 |
38.99 |
47.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
17.71 |
44.47 |
51.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.66 |
1.40 |
1.54 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.43 |
0.17 |
0.34 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.04 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.93 |
0.32 |
0.62 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.01 |
1.01 |
1.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.01 |
1.01 |
1.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.05 |
0.02 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
63.91 |
180.74 |
218.65 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.01 |
1.01 |
1.01 |
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 |
40.400 |
40.400 |
40.400 |
|
Reserves & Surplus |
146.281 |
146.888 |
148.643 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
186.681 |
187.288 |
189.043 |
|
|
|
|
|
|
long-term borrowings |
125.725 |
122.214 |
355.666 |
|
Short term borrowings |
8707.810 |
7179.602 |
2226.411 |
|
Total
borrowings |
8833.535 |
7301.816 |
2582.077 |
|
Debt/Equity
ratio |
47.319 |
38.987 |
13.659 |
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 |
335.230 |
364.034 |
406.793 |
|
|
|
8.592 |
11.746 |
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 |
335.230 |
364.034 |
406.793 |
|
Profit/ (Loss) |
1.154 |
0.607 |
1.755 |
|
|
0.34% |
0.17% |
0.43% |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
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: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Admin and
Maintenance Fund for Equipment |
|
|
|
Loan fund from Administrative charges and Maintenance Charges |
355.666 |
122.214 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Government Fund Equipment and Others |
5.307 |
7.208 |
|
DME – Film |
1052.313 |
1677.696 |
|
DME –Equipment |
0.621 |
1.747 |
|
DME – Film |
662.105 |
839.078 |
|
DME – Equipment |
17.623 |
17.623 |
|
DME – ESI Equipment |
1.212 |
1.267 |
|
DME – Film |
1046.509 |
1496.996 |
|
DME – Equipment |
201.965 |
224.838 |
|
Tamilnadu Health Systems Project |
3810.354 |
1989.591 |
|
RCH |
15.456 |
15.456 |
|
RDC Equipments |
47.210 |
70.145 |
|
Drug Controller Equipment |
12.040 |
12.040 |
|
Tamilnadu State Aids Control Society |
33.584 |
31.293 |
|
Tamilnadu Blindness Control Society, Chennai |
328.895 |
326.503 |
|
DVS LN2 gas, surgical, Chemicals and Equipment |
16.318 |
16.318 |
|
DPH-Construction – PMGY |
6.061 |
6.061 |
|
RDC Project |
0.736 |
0.736 |
|
RCH Project [WB Construction] |
0.100 |
0.100 |
|
Word Bank – ICDS |
57.722 |
17.851 |
|
Hospital Equipment-Maintenance |
428.719 |
416.852 |
|
Health and Family Dept Equipment
|
0.125 |
0.135 |
|
ICMR Project |
1.036 |
10.068 |
|
TNSC Differently Abled Equipment |
20.400 |
0.000 |
|
Less: Advance – CMCHIS-GOTN 2016-17 |
5540.000 |
0.000 |
|
|
|
|
|
Total |
2582.077 |
7301.816 |
GENERAL
INFORMATION:
The corporation has been set up by the Government of Tamilnadu as per GO
(MS) No. 446/ Health and Family Welfare Department 12.04.1993 with the
objective of planning the procurement, storage and distribution of drugs,
medicines and surgical item, etc. for Government Hospitals, Primary Health
Centers and other approved Institutions and the company acts as an agent of
Government of Tamilnadu.
STATE OF COMPANY’S
AFFAIRS:
PROCUREMENT:
TNMSC Limited is procuring Essential rugs and Medicines, Sanitary
Napkins for the girls and post-natal mothers, new generation specialty drugs
and surgical and suture items from reputed manufacturers through transparent tender
system. TNMSC Limited is also procuring drugs, chemicals and equipment for the
Animal Husbandry Department. The warehouse-wise requirement of drugs, placing
of supply orders and distribution of drugs is monitored online, by use of
information and communication technology.
STORAGE AND
DISTRIBUTION:
The government medical institutions are provided with passbooks based on the allotment made by the respective Head of Departments to enable the institutions to draw their requirement of drugs and medicines for the warehouse to which they are attached. The corporation maintains about 4 months physical stock in the warehouses and about 2 months stock in pipeline for ensuring uninterrupted supply of medicines to hospitals.
During the year five new warehouses, at Karur, Krishnagari, Nagapattinam, Tiruvallur and Tiruppur were address and totally 32 drug warehouses in various district Headquarters are functioning. By such establishment of warehouses, 31 districts are having one warehouse each [except Ariyalur], thereby ensuring easy availability of drugs to the institutions at a short notice and distance.
FIXED ASSETS:
· Air Conditioner and Cooler
· Building
· Computers
· Copiers
· CT Scan Machine and ACCR
· MRI Machine
· Fax Machine
· Franking Machine
· Furniture
· Hospital Equipment
· Land
· Office Equipment
· Office Vehicles
· Telephone Equipment
· Warehouse Equipment
· Electrical Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 67.53 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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.