MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION DETAILS
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Name : |
ACTIS
TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known As : |
GENERAL
ENGINEERING AND SPARES PRIVATE LIMITED |
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Registered Office : |
Plot A – 5, Cross
Road – B, MIDC, Andheri (Eats), Mumbai – 400093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.04.2000 |
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Com. Reg. No.: |
11-125706 |
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CIN No.: [Company
Identification No.] |
U99999MH2000PTC125706 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA14240C |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Trader and services provider of audio
visual industry. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED
CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments |
Satisfactory |
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Maximum Credit Limit : |
USD 400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Mr. Mishra, Accountant
avoided to part any details on three occassions. However, Mr. Yogesh,
Accountants Executive parted some details.
Subject is a well
established and reported company in its field. Trade relations are fair.
Financial position is good. Payments are usually correct and as per
commitments. The company is doing well. It can be
considered good for normal business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mrs. Yogesh |
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Designation : |
Finance Executive |
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Contact No.: |
91-22-30808229 |
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Date : |
06.11.2008 |
LOCATIONS
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Registered Office/Factory : |
Plot A – 5, Cross
Road – B, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India. |
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Tel. No.: |
91-22- 30808000 |
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Fax No.: |
91-22-28379609/
30808111 |
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E-Mail : |
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Website: |
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Area : |
1000 sq. ft. |
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Locations : |
Owned |
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Branch Office : |
Located at:
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DIRECTORS
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Name : |
Mr. Manmohan
Harcharan Gupta |
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Designation : |
Chairman and Managing
Director |
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Address : |
601, Sea Spray,
Janki Kutir, Juhu, Mumbai – 400 049, Maharashtra, India |
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Date of Birth/Age : |
12.12.1942 |
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Qualification : |
Engineer |
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Date of Appointment : |
10.04.2000 |
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Email: |
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Name : |
Mrs. Bina
Manmohan Gupta |
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Designation : |
Whole Time
Director |
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Address : |
601, Sea Spray,
Janki Kutir, Juhu, Mumbai – 400 049, Maharashtra, India |
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Date of Birth/Age : |
02.12.1945 |
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Qualification : |
B. Com |
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Date of Appointment : |
10.04.2000 |
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Email: |
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Name : |
Mr. Abhimanyu
Manmohan Gupta |
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Designation : |
Whole Time
Director |
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Address : |
601, Sea Spray,
Janki Kutir, Juhu, Mumbai – 400 049, Maharashtra, India |
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Date of Birth/Age : |
29.04.1975 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
10.04.2000 |
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Email : |
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Name : |
Mrs. Mansi
Abhimanyu Gupta |
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Designation : |
Whole Time
Director |
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Address : |
601, Sea Spray,
Janki Kutir, Juhu, Mumbai – 400 049, Maharashtra, India |
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Date of Birth/Age : |
16.07.1979 |
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Date of Appointment : |
01.10.2003 |
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Email : |
MAJOR SHAREHOLDERS
(As on
26.09.2007)
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Names of
Shareholders |
No. of Shares |
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Manmohan
Harcharan Gupta |
45000 |
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Abhimanyu
Manmohan Gupta |
22000 |
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Bina Manmohan
Gupta |
22000 |
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Ashish Manmohan
Gupta |
12000 |
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Anuradha Sunil Khandelwal |
5000 |
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Malika Shunak
Dalal |
1000 |
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Mansi Abhimanyu
Gupta |
5000 |
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Total |
112000 |
(As on
31.03.2008)
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Names of
Allottees |
No. of Shares Allottees |
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Manmohan
Harcharan Gupta |
72000 |
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Abhimanyu
Manmohan Gupta |
35200 |
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Bina Manmohan
Gupta |
35200 |
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Ashish Manmohan
Gupta |
19200 |
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Anuradha Sunil Khandelwal |
8000 |
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Malika Shunak
Dalal |
1600 |
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Mansi Abhimanyu
Gupta |
8000 |
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Total |
179200 |
(As on
31.03.2007)
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Category |
Percentage |
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Directors or relatives of director |
99.11 |
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Other top fifty shareholders (other than listed
above) |
0.89 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and services provider of audio
visual industry. |
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Products : |
v
Multimedia
Projectors v
Plasma &
LCD Displays v
Front
Projection Screens v
Optical
Projection Screens v
Data &
Video Walls v
Visualizers v
Motorised
Projector Lifts And Drapes v
Audio Viduo
Conferencing v
Conferencing
Systems v
Audio
Processors v
Power
Amplifiers v
Microphones v
Lighting
Controls v
Cinema
Equipment v
CNC
Machining v Accessories |
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Exports : |
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Products : |
Instrument used
for cutting flames |
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Countries : |
v
USA v
UK v
Canada |
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Imports : |
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Products : |
Projectors from
Benque, Epson etc |
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Countries : |
v
USA v
UK v
Canada |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C (30 days) |
GENERAL INFORMATION
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Customers : |
v Wholesalers v Retailers v Agents |
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No of Employees: |
220 |
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Bankers : |
v Axis Bank Lokhandwala Branch, Royal Accord IV, Lokhandwala Complex, Andheri (East), Mumbai – 400053, Maharashtra, India v
HDFC Bank |
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Facilities : |
CC – Rs.105.000
Millions
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dalal Doctor and
Associates Chartered
Accountant |
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Address : |
305, T. V. Industrial
Estate, 24-A, S. K. Ahire Marg, Worli, Mumbai – 400025, Maharashtra, India |
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Associates : |
GE Visual Private
Limited |
CAPITAL STRUCTURE
Authorised
Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000
Millions |
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Issued,
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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112000 |
Equity Shares |
Rs.100/- each |
Rs.11.200
Millions |
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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 |
11.200 |
11.200 |
11.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
69.822 |
49.233 |
36.713 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
81.022 |
60.433 |
47.913 |
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LOAN FUNDS |
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1] Secured Loans |
35.976 |
18.687 |
15.045 |
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2] Unsecured Loans |
34.392 |
42.576 |
24.649 |
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TOTAL BORROWING |
70.368 |
61.263 |
39.694 |
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DEFERRED TAX LIABILITIES |
4.076 |
3.690 |
3.676 |
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TOTAL |
155.466 |
125.386 |
91.283 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.807 |
26.810 |
18.350 |
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Capital work-in-progress |
5.767 |
1.600 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
37.707
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31.945 |
18.844 |
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Sundry Debtors |
124.286
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90.307 |
58.780 |
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Cash & Bank Balances |
4.396
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5.087 |
6.235 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
34.408
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25.948 |
20.982 |
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Total Current Assets |
200.797
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153.287 |
104.841 |
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Less
: CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
57.835
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30.919 |
15.541 |
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Provisions |
28.112
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25.912 |
17.366 |
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Total Current Liabilities |
85.947
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56.831 |
32.907 |
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Net Current Assets |
114.850
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96.456 |
71.934 |
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MISCELLANEOUS EXPENSES |
0.042 |
0.520 |
0.999 |
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TOTAL |
155.466 |
125.386 |
91.283 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
524.073 |
353.993 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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524.073 |
353.993 |
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Profit/(Loss) Before Tax |
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42.563 |
27.040 |
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Provision for Taxation |
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15.572 |
9.455 |
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Profit/(Loss) After Tax |
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26.991 |
17.585 |
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Export Value |
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17.467 |
4.898 |
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Total Expenditure |
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481.510 |
326.953 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.15
|
4.97 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
8.12
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7.64 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
18.07
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15.01 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.53
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0.45 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.93
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1.95 |
1.52 |
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Current Ratio (Current Asset/Current Liability) |
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2.34
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2.70 |
3.19 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
v
Reliance Group
v
Aviva Global
FIXED ASSETS:
v
Land –
Freehold
v
Land –
Leasehold
v
Building –
Factory
v
Building –
Office
v
Furniture and
Fixture
v
Plant and
Machinery
v
Computers
v
Motor Cars
AS PER
WEBSITE:
About Us:
Company Greek word signifying a beam of light matches their
mission to provide tools required for spreading knowledge. illumination. They
focus on the environment and equipment for presentations; the two go together
to form an integrated solution.
As providers of integrated solutions, they package together
the most appropriate equipment for visual and oral communication (large screen
displays, sound and conferencing systems) and environmental controls
(lighting and HVAC), depending on the requirements.
The aim is to improve the technical quality of the
presentations, enhance the environment of the meeting place, and simplify
manipulation of complex equipment so that effectively increase the audience's
receptiveness to the message.
Compnay has its headquarters and production plant in Mumbai, India. It has
sales offices in Bangalore, Hyderabad, Chennai and Ahmedabad, and an all-India
distribution network for sales and support activities. Their client base now
includes medium and large companies, multinational corporations, educational
institutes, and government departments (including defence).
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.47.67 |
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UK Pound |
1 |
Rs.75.47 |
|
Euro |
1 |
Rs.61.19 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
54 |
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. |
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 |
|