MIRA
INFORM REPORT
|
Report Date : |
10.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNICOM INFOTEL PRIVATE LIMITED |
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Registered Office : |
18, Ravi Insustrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai – 400 093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.09.1996 |
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Com. Reg. No.: |
11-102771 |
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CIN No.: [Company
Identification No.] |
U32202MH1996PTC102771 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU02527A |
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PAN No.: [Permanent
Account No.] |
AAACU1355P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Solutions for Office Automation and IT Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
|
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 26000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Vaidya Nathan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9322748476 |
|
Date : |
07.11.2008 |
LOCATIONS
|
Registered Office : |
18, Ravi Insustrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai – 400 093, Maharashtra, India |
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E-Mail : |
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Website : |
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Corporate Office : |
C/315-320, Solaris – 1, Opp – L and T , Gate No.6, Saki Vihar Road,
Powai, Andheri (East), Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-40073000 / 28575677 / 28575637 |
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Mobile No.: |
91-9892048707 / 9393761695 / 9322748476 |
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Fax No.: |
91-22-2857 5637 |
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E-Mail : |
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Area : |
2200 Sq. ft. |
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Location : |
Owned |
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Branch Office : |
Located at ·
Kolkata ·
Secunderabad ·
Bengaluru ·
Chennai ·
Mumbai ·
Pune ·
Delhi ·
Coimbatore ·
Cochin ·
Ahmadabad ·
Hyderabad Tel No.: 91-40-40354035 |
DIRECTORS
|
Name : |
Mr. Bharat Mahendrabhai Thakker |
|
Designation : |
Whole Time Director |
|
Address : |
Block No. 14, 2nd Floor, Yeshwant Nagar, 53 S V Road,
Andheri (West), Mumbai – 400 059, Maharashtra, India |
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Date of Birth/Age : |
27.10.1949 |
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Date of Appointment : |
21.04.1997 |
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|
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Name : |
Mr. Jay Bharat Thakker |
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Designation : |
Director |
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Address : |
Block No. 14, 2nd Floor, Yeshwant Nagar, 53 S V Road,
Andheri (West), Mumbai – 400 059, Maharashtra, India |
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Date of Birth/Age : |
12.07.1976 |
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Date of Appointment : |
23.09.1996 |
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Name : |
Mr. Jayesh Ramesh Tekchandaney |
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Designation : |
Director |
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Address : |
B-29, Vasuki, 7th Road, Rajawadi, Ghatkopar (East), Mumbai
– 400 077, Maharashtra, India |
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Date of Birth/Age : |
22.12.1976 |
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Date of Appointment : |
23.09.1996 |
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Name : |
Mr. Vinod Gobind Tekchandaney |
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Designation : |
Director |
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Address : |
Flat No. B/303-304, Denzil Road, No. 3, Lokhanwala Complex, Andheri
(West), Mumbai – 400 053, Maharashtra, India |
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Date of Birth/Age : |
14.02.1970 |
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Date of Appointment : |
23.09.1996 |
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Name : |
Mr. Inder Wadhumal Tekchandaney |
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Designation : |
Director |
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Address : |
4, Avinash Road, No. 3, Unicon Park, Khar (West), Mumbai – 400 052,
Maharashtra, India |
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Date of Birth/Age : |
14.03.1941 |
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Date of Appointment : |
23.09.1996 |
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Name : |
Mr. Balraj Sabhandas Tekchandaney |
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Designation : |
Director |
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Address : |
502, Anmol, Powai Vihar Complex, Pawai, Mumbai – 400 072, Maharashtra,
India |
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Date of Birth/Age : |
20.03.1956 |
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Date of Appointment : |
23.09.1996 |
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Name : |
Mr. Ganapathy Subramaniam Vaidyanathan |
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Designation : |
Director |
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Address : |
12-7-162/4, 1st Floor, Ayappan Nagar, Mettuguda,
Secunderabad, Andhra Pradesh – 500 017, India |
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Date of Birth/Age : |
26.08.1972 |
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Date of Appointment : |
08.05.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
|
Names of Shareholders |
No. of Shares |
|
Bharat Mahendrabhai Thakker |
2900 |
|
Bharat Mahendrabhai Thakker (HUF) |
5960 |
|
Jay Bharat Thakker |
5815 |
|
Khyati Bharat Thakker |
5300 |
|
Ramesh Tekchandaney |
6060 |
|
Jyoti Ramesh Tekchandaney |
4500 |
|
R S Tekchandaney (HUF) |
5000 |
|
Jayesh Ramesh Tekchandaney |
6000 |
|
Veena Bharat Thakker |
2300 |
|
Balraj Sabhanedas Tekchandaney |
9900 |
|
Vinod Gobind Tekchandaney |
7675 |
|
M/s Unicom Finance Private Limited |
10 |
|
Anita Tekchandaney |
7200 |
|
Manoj G Tekchandaney |
7200 |
|
Inder Wadhumal Tekchandaney |
7715 |
|
Prachi V Tekchandaney |
100 |
|
Madhur I Tekchandaney |
7450 |
|
Mayur I Tekchandaney |
7110 |
|
M/s Unique Mixers and Furnaces Private Limited |
100 |
|
Vaidyanathan Ganapathy |
100 |
|
Purvi Jayesh Tekchandaney |
715 |
|
Sangeeta Vinod Tekchandaney |
200 |
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|
|
|
Total |
99310 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Directors or relatives of directors |
99.89 |
|
Other top fifty (50) shareholders |
0.11 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Solutions for Office Automation and IT Products. |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) – Advance Payment |
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Purchasing : |
Cash and Credit (15 to 30 days) |
GENERAL INFORMATION
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Customers : |
Corporates |
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No. of Employees : |
320 (In Office 120 and In Branches 200) |
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Bankers : |
·
The Thane Janata Sahakari Bank Tip Top Plaza, Wagle Estate, Thane – 400
604, Maharashtra, India ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Makhija and Associates Chartered Accountants |
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Address : |
204, Rewa Chambers, 31, New Marine Lines, Mumbai – 400 001,
Maharashtra, India |
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|
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Associates/Subsidiaries : |
Unique Mixtures Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
99310 |
Equity Shares |
Rs.10/- each |
Rs.0.993
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.993 |
0.993 |
0.993 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.163 |
2.514 |
1.344 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.156 |
3.507 |
2.337 |
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|
LOAN FUNDS |
|
|
|
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1] Secured Loans |
20.560 |
16.189 |
11.518 |
|
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2] Unsecured Loans |
19.111 |
18.515 |
15.990 |
|
|
TOTAL BORROWING |
39.671 |
34.704 |
27.508 |
|
|
DEFERRED TAX LIABILITIES |
0.359 |
0.355 |
0.212 |
|
|
Security Deposit for Premises |
1.000 |
1.000 |
0.000 |
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|
|
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TOTAL |
46.186 |
39.566 |
30.057 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.735 |
14.538 |
2.730 |
|
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Capital work-in-progress |
0.000 |
0.000 |
5.379 |
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.140
|
9.924 |
8.646 |
|
|
Sundry Debtors |
30.716
|
21.157 |
14.034 |
|
|
Cash & Bank Balances |
3.378
|
1.350 |
1.240 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
5.167
|
4.377 |
4.560 |
|
Total
Current Assets |
51.401
|
36.808 |
28.480 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
16.406
|
10.015 |
5.480 |
|
|
Provisions |
4.644
|
1.868 |
1.159 |
|
Total
Current Liabilities |
21.050
|
11.883 |
6.639 |
|
|
Net Current Assets |
30.351
|
24.925 |
21.841 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.003 |
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
46.186 |
39.566 |
30.057 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
127.784 |
91.714 |
65.458 |
|
|
Other Income |
0.932 |
0.898 |
0.494 |
|
|
Total Income |
128.716 |
92.612 |
65.952 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
2.821 |
2.082 |
0.480 |
|
|
Provision for Taxation |
1.185 |
0.782 |
0.130 |
|
|
Profit/(Loss) After Tax |
1.636 |
1.300 |
0.350 |
|
|
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Expenditures : |
|
|
|
|
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|
Purchases |
|
72.102 |
50.666 |
|
|
Increase/(Decrease) in Finished Goods |
|
(1.278) |
(0.418) |
|
|
Quantity Incentive – Mumbai |
|
(0.666) |
0.000 |
|
|
Quantity Incentive – Hyderabad |
|
(0.390) |
(0.432) |
|
|
Personnel Expenses |
|
9.664 |
6.115 |
|
|
Administration Expenses |
|
4.252 |
4.862 |
|
|
Finance Expenses |
|
3.359 |
2.435 |
|
|
Advertisement / Marketing and Channel
Development |
|
0.549 |
0.781 |
|
|
Miscellaneous Expenses |
|
0.584 |
0.458 |
|
|
Sales Tax Previous Years |
|
0.002 |
0.081 |
|
|
Sales Tax Exp 02-03 |
|
0.000 |
0.007 |
|
|
Delhi Sales Tax Paid (Previous Year) |
|
0.000 |
0.007 |
|
|
Central Sales Tax Paid (Previous Year) |
|
0.000 |
0.002 |
|
|
Transportation, Freight and Octroi – Mumbai |
|
0.666 |
0.312 |
|
|
Transportation, Freight – Hyderabad |
|
0.080 |
0.121 |
|
|
Audit Fees |
|
0.017 |
0.022 |
|
|
Preliminary Expenses W/off. |
|
0.004 |
0.004 |
|
|
Depreciation |
|
1.585 |
0.449 |
|
Total Expenditure |
125.895 |
90.530 |
65.472 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.27
|
1.40 |
0.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.21
|
2.27 |
0.73 |
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.20
|
4.05 |
1.54 |
|
|
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.59 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.78
|
13.28 |
14.61 |
|
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|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44
|
3.10 |
4.29 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
|
Name of the company |
UNICOM INFOTEL PRIVATE LIMITED |
|
Presented By |
Mr. Bharat M
Thakker, Director |
|
1) Date and description of instrument creating the change |
Memorandum of
creation of the first charge by way of Deposit of title deeds and the deed of
hypothecation dated 22md March 2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.438 millions
|
|
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 |
Equitable
mortgage of the company’s immovable property situated at Solaris – I, Unit
No. B-42, 3/5-320 and hypothecation of machineries such as Furniture, Air
conditioners, computers and communication system. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
@ 11% - Loan repayment within a period of 63 months in 60 installments. |
|
5) Name and Address and description of the person entitled to the charge. |
The Thane Janata Sahakari Bank Wagle Estate, Thane Branch |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
|
Corporate
identity number of the company |
U32202MH1996PTC102771 |
|
Name of the
company |
UNICOM INFOTEL PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
18, Ravi Insustrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai – 400 093, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
The Thane Janata Sahakari Bank Tip Top Plaza, Wagle Estate, Thane – 400 604, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation |
|
Date of
instrument Creating the charge |
29.03.2008 |
|
Amount secured by
the charge |
Rs.20.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest 11.50% p.a. at monthly rest i.e. @ 2.00% p.a. below PLR ·
Terms of
repayment 12 months, shall be renewed on yearly basis ·
Margin 40% ·
Extent and
operation of the charge Rupees Two Crores Only |
|
Particulars of
the property charged |
Stocks, Book
debts, Equitable mortgage by way of deposit of title deed of Unit No 42 and
Unit No. 315 to 320 situated in the building Solaris – I in Universal
Industrial Estate situated at Village Tungwa (Saki Vihar Road), Tal. Kurla,
Dist. Mumbai and Supplementary Mortgage by way of deposit of Title deed of
Unit No. 413 to 416 situated in the Building Solaris I in Universal
Industrial Estate situated at Village Tungwa (Saki Vihar Road), Tal. Kurla,
Dist. Mumbai. |
|
Particulars of
the present modification |
Enhancement of cash
credit limit from Rs.12.000 millions to 20.000 millions |
Performance
The Sales during the year is Rs.127.784 millions as against Rs.91.714
millions in the previous year. The Company during the year has earned a Profit of
Rs.1.636 millions during the year as against profit of Rs.1.300 millions in the
previous year.
Fixed Assets
·
Computers
·
Furniture
·
Airconditioners
·
Electrical Fittings
Web Details
Subject was formed in September 1996 by a group of Young Professional from the
field of telecommunications and information technology from India's universities and Private industries.
Subject is a part of progressive group of companies
having diverse operations ranging from design, development and manufacturing of
complex engineering goods to vast segments of pharmaceuticals, food processing,
chemicals, dyes and power generation, to name a few.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.76 |
|
UK Pound |
1 |
Rs.74.87 |
|
Euro |
1 |
Rs.60.81 |
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. |
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 |
|