%20PRIVATE%20LIMITED%20-%20137087%2005-Apr-2011_files/image002.jpg){kind=small}
BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
EMINENCE ELECTRONIC TECHNOLOGY ( |
Principal Name 1 |
MS. SAVITHA RAGHUNATH |
|
Status |
MODERATE |
Principal Name 2 |
MR. SANJAY RAGHUNATH |
|
|
|
Registration # |
18-058428 |
|
Street Address |
W 352/3, |
||
|
Established Date |
26.12.2005 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
PROVIDER |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
SOFTWARE SOLUTION IN THE CARD AND ID SECURITY BUSINESS |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.500,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS-100% |
Banking |
HDFC BANK |
|
Public Limited Corp. |
NO |
Business Period |
5 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ca (11) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
ASSOCIATE
CONCERNS |
|
AID SYSTEMS |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
4,801,000
|
Current Liabilities |
2,817,000
|
|
Inventories |
4,034,000
|
Long-term Liabilities |
14,000,000 |
|
Fixed Assets |
1,935,000 |
Other Liabilities |
120,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
16,937,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
(6,667,000) |
|
|
|
Net Worth |
(6,167,000) |
|
Total Assets |
10,770,000 |
Total Liab. & Equity |
10,770,000 |
|
Total Assets (Previous Year) |
9,200,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
12,275,000 |
Net Profit |
(3,841,000) |
|
Sales(Previous yr) |
11,459,000 |
Net Profit(Prev.yr) |
(884,000) |
MIRA INFORM
REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
EMINENCE ELECTRONIC TECHNOLOGY ( |
|
|
|
|
Registered Office : |
W 352/3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
26.12.2005 |
|
|
|
|
Com. Reg. No.: |
18-058428 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51507TN2005PTC058428 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEE04254F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Provider of software
solution in the Card and ID Security business. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field having moderate track. The profitability
of the company in under pressure. There appears to be some accumulated losses recorded by the company.
However, trade relations are fair. Business is active. Payments are reported
to be slow. The company can be considered for business dealings on a secured 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
W 352/3, |
|
E-Mail : |
chitraandco@gmail.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
No.5, Wheat |
|
Tel. No.: |
91-44-43500300/ 43500881 |
|
Fax No.: |
91-44-43500300/ 400 |
|
E-Mail : |
|
|
|
|
|
Operating office : |
Located at: ·
· Mumbai ·
·
·
·
|
DIRECTORS
As on 30.06.2010
|
Name : |
Ms. Savitha Raghunath |
|
Designation : |
Managing Director |
|
Address : |
No. 23-25, Belagola Food Industrial Area, Metagalli Mysore – 570 018, |
|
Date of Birth/Age : |
04.03.1972 |
|
Date of Appointment : |
01.12.2006 |
|
DIN No.: |
01756684 |
|
|
|
|
Name : |
Mr. Sanjay Raghunath |
|
Designation : |
Director |
|
Address : |
Emerald Enclave, Belavadi Post, |
|
Date of Birth/Age : |
13.08.1965 |
|
Date of Appointment : |
26.12.2005 |
|
DIN No.: |
01756704 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Savitha R. |
|
25500 |
|
Sanjay Raghunath |
|
24500 |
|
Total |
|
50000 |
As on 30.06.2010
Equity Share Breakup
|
Category |
|
Percentage
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of software
solution in the Card and ID
Security business. |
|
|
|
|
Products : |
·
Smart Card Solutions ·
Biometric Finger Print Solutions ·
PC Solutions ·
Card Printers ·
Technology ·
Content Management System CRM ·
Offshore Software Development Services |
GENERAL INFORMATION
|
Bankers : |
HDFC Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Banking
Relations : |
-- |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||
|
Name : |
Padmanabhan Ramani and Ramanujam Chartered Accountants |
||||||||||||||||||
|
Address : |
1 F, Arudhra, New No. 15, |
||||||||||||||||||
|
Tel. No.: |
91-44-42909200 |
||||||||||||||||||
|
Fax No.: |
91-44-42909212 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Associate Concerns : |
AID Systems, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(6.667) |
(2.826) |
(1.942) |
|
|
NETWORTH |
(6.167) |
(2.326) |
(1.442) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.580 |
1.098 |
|
|
2] Unsecured Loans |
14.000 |
10.500 |
7.640 |
|
|
TOTAL BORROWING |
14.000 |
11.080 |
8.738 |
|
|
DEFERRED TAX LIABILITIES |
0.095 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.928 |
8.754 |
7.296 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.935 |
1.925 |
2.080 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
1.105 |
0.816 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.034
|
4.213
|
1.805 |
|
|
Sundry Debtors |
3.097
|
0.943
|
0.762 |
|
|
Cash & Bank Balances |
0.542
|
0.577
|
3.914 |
|
|
Other Current Assets |
0.156
|
0.014
|
0.080 |
|
|
Loans & Advances |
1.006
|
0.403
|
0.434 |
|
Total
Current Assets |
8.835
|
6.150
|
6.995 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.154
|
0.212
|
2.128 |
|
|
Other Current Liabilities |
0.663
|
0.179
|
0.442 |
|
|
Provisions |
0.025
|
0.055
|
0.045 |
|
Total
Current Liabilities |
2.842
|
0.446
|
2.615 |
|
|
Net Current Assets |
5.993
|
5.704
|
4.380 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.020 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
7.928 |
8.754 |
7.296 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12.275 |
11.459 |
1.191 |
|
|
|
Other Income |
0.382 |
0.157 |
0.000 |
|
|
|
TOTAL (A) |
12.657 |
11.616 |
1.191 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
15.091 |
9.215 |
0.930 |
|
|
|
Administrative Expenses |
|
1.236 |
1.271 |
|
|
|
Staff Cost |
|
1.512 |
0.854 |
|
|
|
Selling & Distribution Expenses |
|
0.484 |
0.290 |
|
|
|
TOTAL (B) |
15.091
(including financial expenses) |
12.447 |
3.345 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.831) |
(2.154) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.125 |
0.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2.434) |
(0.956) |
(2.322) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.214 |
0.194 |
0.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(2.648) |
(1.150) |
(2.523) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.193 |
(0.266) |
(0.771) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(3.841) |
(0.884) |
(1.752) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.826) |
(1.942) |
(0.190) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(6.667) |
(2.826) |
(1.942) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods/ Services calculated on FOB basis - Freight |
0.151 |
2.028 |
NIL |
|
|
TOTAL EARNINGS |
0.151 |
2.028 |
NIL
|
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
6.230 |
8.167 |
NIL |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(76.82) |
(17.70) |
(35.00) |
|
%20PRIVATE%20LIMITED%20-%20137087%2005-Apr-2011_files/image003.gif){kind=small}
key ratios
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(30.35) |
(7.61) |
(147.10) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(21.57) |
(10.03) |
(211.84) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.59) |
(14.24) |
(27.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43 |
0.49 |
1.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.73) |
(4.96) |
(7.87) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11 |
13.82 |
2.67 |
LOCAL AGENCY FURTHER INFORMATION
fixed assets:
· Computers
· Furniture and Fixtures Block
· Office equipments Block
· Vehicle Block
websites details:
Profile:
Subject is a well-established software solution provider in
the Card and ID Security business. Over 500 man year experience servicing this line
of activity. Currently, they have a 100 strong development, implementation and
servicing team based out of
They have been able to achieve this by having a team of
well-trained electronic engineers to support and maintain their readers used
for Time and Attendance, Access Control, Smart Card based terminals.
Subject is just not with Smart Cards alone. They take pride
in being a Total Solution
Provider, offering
Smart Card based Solutions and software products like Content Management
System, Customer Relationship Management and various offshore software
deliverables on- demand for various industry verticals like banking, insurance,
manufacturing and IT services. Their offshore services extend to product
development, project management and software testing.
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.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
11 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.