MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
FOREVISION INSTRUMENTS PRIVATE LIMITED |
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Registered Office : |
18-38, 1st Floor, Kamalanagar, Near Dilsukhnagar, Hyderabad
50006, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.08.1997 |
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Com. Reg. No.: |
01-27765 |
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CIN No.: [Company
Identification No.] |
U29110AP1997PTC027765 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDF00228E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Supplier of Scientific and Research Instruments and
Technical/application services |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 6000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its filed. Trade relations are fair. Scale of activity is limited. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings with slight caution initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Shivram |
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Designation : |
Finance Director |
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Contact No.: |
91-9949030075 |
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Date : |
04.06.2008 |
LOCATIONS
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Registered Office : |
18-38, 1st Floor, Kamalanagar, Near Dilsukhnagar, Hyderabad
50006, Andhra Pradesh, India |
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Tel. No.: |
91-40-24221353 |
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E-Mail : |
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Website : |
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Area : |
3200 Sq. fts. |
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Location : |
Rented |
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Corporate Office : |
Plot 16, Mamatanagar, Nagole, Hyderabad - 500 068 |
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Tel. No.: |
91-40-24042353 / 24142353 / 24142363 / 24142373 |
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Fax No.: |
91-40-24042383 |
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E-Mail : |
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Branch 1 : |
H.No.I-2, Shivlok House – I, Karampura Complex, New Delhi, India |
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Tel. No.: |
91-11-25922011 |
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Branch 2 : |
115, Salimpur Road, Kolkata – 700 031 |
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Tel. No.: |
91-33-24292319 |
DIRECTORS
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Name : |
Mr. Tetali Sai Kamaraju |
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Designation : |
Director |
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Address : |
18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad 500060, Andhra
Pradesh, India |
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Date of Birth/Age : |
21.05.1959 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
14.08.1997 |
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Name : |
Mr. Tetali Rao |
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Designation : |
Director |
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Address : |
18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad 500060, Andhra
Pradesh, India |
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Date of Birth/Age : |
06.06.1966 |
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Qualification : |
M. Tech |
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Date of Appointment : |
14.08.1997 |
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Name : |
Mr. G. Mani Kumari |
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Designation : |
Director |
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Address : |
18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad 500060, Andhra
Pradesh, India |
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Date of Birth/Age : |
30.03.1969 |
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Qualification : |
B.Sc. |
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Date of Appointment : |
15.09.1997 |
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Name : |
Mr. T. Nagamani |
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Designation : |
Director |
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Address : |
18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad 500060, Andhra
Pradesh, India |
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Date of Birth/Age : |
21.07.1936 |
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Date of Appointment : |
06.04.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 27.06.2005]
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Names of Shareholders |
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No. of Shares |
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Mani Kumar |
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7500 |
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T. Nagamani |
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2500 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Supplier of Scientific and Research Instruments and
Technical/application services |
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Imports : |
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Products : |
Equipment |
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Countries : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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No. of Employees : |
26 |
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Bankers : |
Malakpet Branch,
Hyderabad 500036, Andhra Pradesh, India
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
D. Swami Reddy and Company Chartered Accountants |
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Address : |
35 and 36, First Floor, Reddy Complex, Tilak Road, Abids, Hyderabad
500001, Andhra Pradesh, India |
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Memberships : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.717 |
0.273 |
0.249 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.217 |
0.773 |
0.749 |
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LOAN FUNDS |
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1] Secured Loans |
1.873 |
0.499 |
0.365 |
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2] Unsecured Loans |
4.591 |
2.882 |
2.397 |
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TOTAL BORROWING |
6.464 |
3.381 |
2.762 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.029 |
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TOTAL |
7.681 |
4.154 |
3.540 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.352 |
1.345 |
1.228 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.006 |
0.006 |
0.006 |
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DEFERREX TAX ASSETS |
0.003 |
0.041 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.035 |
0.035 |
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Cash & Bank Balances |
0.007
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0.009 |
0.001 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
9.349
|
5.082 |
3.896 |
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Total
Current Assets |
9.356
|
5.126 |
3.932 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.141
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2.238 |
1.296 |
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Provisions |
2.895
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0.126 |
0.330 |
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Total
Current Liabilities |
3.036
|
2.364 |
1.626 |
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Net Current Assets |
6.320
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2.762 |
2.306 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.681 |
4.154 |
3.540 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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12.100 |
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Total Income |
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12.100 |
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Net Profit |
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0.070 |
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Total Expenditure |
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12.030 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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0.58 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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0.58 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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1.09 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.09 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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7.80
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7.43 |
5.85 |
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Current Ratio (Current Asset/Current Liability) |
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3.08
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2.17 |
2.42 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Ditabis
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U29110AP1997PTC027765 |
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Name of the
company |
FOREVISION
INSTRUMENTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
18-38, 1st Floor, Kamalanagar, Near Dilsukhnagar, Hyderabad
50006, Andhra Pradesh, India |
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Type of charge |
Others |
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Particular of
charge holder |
Andhra Bank Malakpet Branch,
Hyderabad 500036, Andhra Pradesh, India |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
31.08.2007 |
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Amount secured by
the charge |
Rs. 6.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest 8.75% on SOD 16.5% on Bank
Guarantee [b] Terms of
repayment On demand [c] Margin 25% [d] Extent and
operation of the charge First charge |
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Short particulars
of the property charged |
1] House No.
18-38, Plot No. 16A, Survey No. 64 and 65, situated at Kamalanagar,
Chaitanyapuri, Gaddianaram Municipality, District, belongs to Mr. T. Sai
Kamaraju 2] House No.
2-1-242, Plot No. 16, Situated at Mamatanagar, Nagole, Hyderabad 68,
belonging to a Srinivas [Relative of Managing Director] |
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 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. 42.79 |
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UK Pound |
1 |
Rs. 83.77 |
|
Euro |
1 |
Rs. 66.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
31 |
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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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