MIRA
INFORM REPORT
|
Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
KOPAL COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
QU-111 A, Pitam Pura, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
06.08.2003 |
|
|
|
|
Com. Reg. No.: |
55-121668 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72900DL2003PTC121668 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELK05687D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Deals in Computer Hardware |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
QU-111 A, Pitam Pura, |
|
Tel. No.: |
91-11-27344966 / 27344963 |
|
Mobile No.: |
91-986826501 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Vinay Kumar Mittal |
|
Designation : |
Director |
|
Address : |
HU-65, Pitampura, |
|
Date of Birth/Age : |
10.06.1970 |
|
Date of Appointment : |
31.03.2004 |
|
|
|
|
Name : |
Mrs. Charu Mittal |
|
Designation : |
Director |
|
Address : |
HU-65, Pitampura, |
|
Date of Birth/Age : |
09.08.1975 |
|
Date of Appointment : |
31.03.2004 |
|
|
|
|
Name : |
Mrs. Uma Mittal |
|
Designation : |
Director |
|
Address : |
HU-65, Pitampura, |
|
Date of Birth/Age : |
18.01.1964 |
|
Date of Appointment : |
31.03.2004 |
|
|
|
|
Name : |
Mrs. Chhama Mittal |
|
Designation : |
Director |
|
Address : |
HU-65, Pitampura, |
|
Date of Appointment : |
06.08.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Praveen Kumar Mittal |
|
9000 |
|
Chhama Mittal |
|
9000 |
|
Vinay Kumar Mittal |
|
8500 |
|
Charu Mittal |
|
8500 |
|
Uma Mittal |
|
11500 |
|
Savitri Devi Mittal |
|
12500 |
|
Sanjeev Kumar Mittal |
|
6000 |
|
|
|
5000 |
|
|
|
|
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Bodies corporate |
|
30.00 |
|
Directors of relatives of directors |
|
43.50 |
|
Other top fifty shareholders |
|
26.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Deals in Computer Hardware |
GENERAL INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Pramod Kumar Narula Chartered Accountants |
|
Address : |
612, Gobind Apartments, B-2, Vasundhara Enclave, |
|
Tel. No.: |
91-11-22623808 |
|
E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs. 10/-each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs. 10/-each |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.000 |
0.700 |
|
|
2] Share Application Money |
|
1.500 |
0.000 |
|
|
3] Reserves & Surplus |
|
3.799 |
2.562 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
6.299 |
3.262 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.530 |
0.462 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.530 |
0.462 |
|
|
DEFERRED TAX LIABILITIES |
|
0.028 |
0.029 |
|
|
|
|
|
|
|
|
TOTAL |
|
6.857 |
3.753 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.598 |
0.278 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
5.593 |
1.580 |
|
|
Sundry Debtors |
|
7.704 |
8.653 |
|
|
Cash & Bank Balances |
|
0.563 |
0.636 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.548 |
0.157 |
|
Total
Current Assets |
|
14.408 |
11.026 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
8.051 |
7.507 |
|
|
Provisions |
|
0.112 |
0.065 |
|
Total
Current Liabilities |
|
8.163 |
7.572 |
|
|
Net Current Assets |
|
6.245 |
3.454 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.014 |
0.021 |
|
|
|
|
|
|
|
|
TOTAL |
|
6.857 |
3.753 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
89.552 |
84.777 |
|
|
Other Income |
|
0.145 |
0.066 |
|
|
Total Income |
|
89.697 |
84.843 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.157 |
0.171 |
|
|
Provision for Taxation |
|
0.120 |
0.064 |
|
|
Profit/(Loss) After Tax |
|
0.037 |
0.107 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
0.132 |
0.037 |
|
|
Depreciation & Amortization |
|
0.116 |
0.145 |
|
|
Other Expenditure |
|
93.305 |
83.865 |
|
Total Expenditure |
|
93.553 |
84.047 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
0.04 |
0.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.18 |
0.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.14 |
1.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.02 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.38 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.77 |
1.46 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
KOPAL COMPUTERS
PRIVATE LIMITED |
|
Presented By |
Mr. Vinay Kumar
Mittal, Director |
|
1) Date and description of instrument creating the change |
Hypothecation of Assets Agreement for Cash Credit dated [Loan DOC -1]
dated 04.02.2005 and Registered on 10.02.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Limit
Rs. 1.000 Million |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of computer hardware and
receivables. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
11 % p.a. on daily balance due and charge on monthly rests. Penal rate of
interest @ 2 % p.a. over the above normal rate of interest Margin 25 % |
|
5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of
Commerce having its head office at E-Block, Harsha Bhawan, Connaught Place,
New Delhi through its branch at Central Market, D-Block, Prashant Vihar,
Delhi – 110085 |
|
6) Date and brief description of instrument modifying the charge |
Supplemental
agreement to secure Credit / Loan Facilities [Loan DOC-13] dated 27.12.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The total limit
enhanced from Rs. 1.000 Million to Rs. 1.700 Millions against hypothecation
of computer hardwares and receivables. Rate of Interest
11 % p.a. on daily balance due and charge on monthly rests. Penal rate of
interest @ 2 % p.a. over the above normal rate of interest |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
90051290 |
|
Corporate
identity number of the company |
U72900DL2003PTC121668 |
|
Name of the
company |
KOPAL COMPUTERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
|
|
Particular of
charge holder |
Oriental Bank of
Commerce D-Block, Prashant
Vihar, Rohini, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
agreement to secure credit / loan facility dated 18.04.2007 |
|
Date of
instrument Creating the charge |
18.04.2007 |
|
Amount secured by
the charge |
Rs. 2.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR – [Present PLR
is 12.50%] which work out at 12.50 % p.a. now, with monthly rests. Subjects
to changes in PLR from time to time. Penal interest will be charged @ 2 %
p.a. over above rate on overdrawn portion to any reason. Terms of
repayment On Demand Margin Margin – 25 % Extent operation
of the charge First charge in
favour of Oriental Bank of Commerce, Prashant Vihar, Rohini |
|
Short particulars
of the property charged |
Hypothecation of
Stock of Computers parts and receivables not more than 90 days. |
|
Date of latest
modification prior to the present modification |
27.12.2005 |
|
Particulars of
the present modification |
The Limit was
enhanced from Rs. 1.000 Million to Rs. 1.700 Millions as on 27.12.2005 has
now further enhanced from Rs. 1.700 millions to Rs. 2.500 Millions |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.48 |
|
|
1 |
Rs.82.59 |
|
Euro |
1 |
Rs.55.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
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 |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|