MIRA
INFORM REPORT
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Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MODULAR ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
B-20, Surabhi Prestige, 1317, Kasba Peth, Pune-411011, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
16.04.2008 |
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Com. Reg. No.: |
25-131811 |
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CIN No.: [Company Identification
No.] |
U32109PN2008PTC131811 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM14373C |
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PAN No.: [Permanent Account No.] |
AAFCM5596H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Dealer and Distributor of Power back up devices. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2500 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is three years old company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some caution. Profit and Loss of the company is not available. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Pradip Gurav |
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Designation : |
Accounts Manager |
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Contact No.: |
91-20-66015618 |
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Date : |
06.04.2011 |
LOCATIONS
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Registered Office : |
B-20, Surabhi Prestige, 1317, Kasba Peth, Pune-411011, |
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Tel. No.: |
91-20-66015618 |
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E-Mail : |
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Website : |
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Area : |
1500 sq.ft. (Approximately) (Owned) |
DIRECTORS
As on 25.09.2009
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Name : |
Mr. Rajesh Suresh Babhai |
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Designation : |
Director |
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Address : |
A-6/2, Utkarsh Nagar, Hadapsar, Pune-411028, |
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Date of Birth/Age : |
29.06.1969 |
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Date of Appointment : |
16.04.2008 |
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DIN No.: |
02088604 |
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Name : |
Mrs. Vaishali Rajesh Barbhai |
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Designation : |
Director |
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Address : |
A-6/2, Utkarsh Nagar, Hadapsar, Pune-411028, |
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Date of Birth/Age : |
26.02.1971 |
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Date of Appointment : |
16.04.2008 |
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DIN No.: |
02089459 |
KEY EXECUTIVES
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Name : |
Mr. Pradip Gurav |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2009
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Names of Shareholders |
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No. of Shares |
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Rajesh Suresh Barbhai |
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700 |
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Vaishali Rajesh Barbhai |
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100 |
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Chandrakala Suresh Barbhai |
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100 |
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Hrishikesh Suresh Barbhai |
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100 |
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Total |
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1000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2009
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Power back up devices. |
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Terms : |
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Selling : |
Cash and Credit ( 30-60-90 Days) |
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Purchasing : |
Cash and Credit ( 30-60-90 Days) |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
Approximately 10 |
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Bankers : |
Dena Bank, Deccan Gymkhana Branch, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajeshkumar Tejrao Patil Chartered Accountant |
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Address : |
# 6, Janhavi Apartments, Bhonde Colony, Off |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity Shares |
Rs. 500/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity Shares |
Rs. 500/- each |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.131 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.631 |
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LOAN FUNDS |
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1] Secured Loans |
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6.130 |
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2] Unsecured Loans |
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0.090 |
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TOTAL BORROWING |
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6.220 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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6.851 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.756 |
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Sundry Debtors |
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2.098 |
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Cash & Bank Balances |
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0.038 |
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Other Current Assets |
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0.308 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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7.200 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.317 |
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Other Current Liabilities |
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Provisions |
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0.058 |
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Total
Current Liabilities |
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0.375 |
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Net Current Assets |
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6.825 |
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MISCELLANEOUS EXPENSES |
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0.026 |
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TOTAL |
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6.851 |
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KEY RATIOS
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PARTICULARS |
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31.03.2009 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.45 |
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Current Ratio (Current Asset/Current Liability) |
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19.20 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Sundry Creditors details
are not available.
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U32109PN2008PTC131811 |
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Name of the
company |
MODULAR ELECTRONICS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
B-20, Surabhi Prestige, 1317, Kasba Peth, Pune-411011, |
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This form is for |
Modification of
Charge |
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Charge identification
number of the charge to be modified |
10146006 |
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Type of charge |
Book Debts Movable Property Others |
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Particular of
charge holder |
Dena Bank, Deccan Gymkhana Branch, |
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Nature of instrument
creating charge |
Agreement of Hypothecation (Goods, Book Debts and
other Movable Assets to secure Multiple Facilities) |
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Date of
instrument Creating the charge |
19.05.2010 |
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Amount secured by
the charge |
Rs. 9.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 14.50% for cash
credit, 15.00% for WCTL, Rs. 120 + 60% per quarter with a minimum of 1.2% for
performance guarantee and Rs. 120 + 80% per quarter with a minimum of 1.60%
for financial guarantee. Terms of
Repayment Cash Credit
Facility repayable on Demand. WCTL to be paid at monthly installment of Rs.
0.036 Million Margin For CC and WCTL
25% on Stock and 40% on book Debts. For Bank Guarantee 25% Extent and
Operation of the charge The charge of the
bank shall be held during the continuance of credit facilities by the company
and extent of charge shall be subject to the modifications in the terms and
conditions of the credit facility. |
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Short particulars
of the property charged |
Hypothecation of
book debts, movable properties and stocks including UPS, Inverters both
present and future at and in transit location at 1317, B-20 Surabhi Presitge,
1317 Kasba Peth, Pune-411011 |
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Date of instrument
modifying the charge |
27.01.2009 |
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Particulars of
the present modification |
The cash credit
limit of Rs. 10.000 Millions has been reduced to Rs. 5.000 Millions. Portion
of cash credit of Rs. 1.500 Millions has been carved out of working capital
limits and treated as Working Capital Term Loan to be repaid by monthly
installments of Rs. 0.036 Million. Fresh Bank Guarantee limit of Rs. 2.500
Millions has been sanctioned. |
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.44.45 |
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|
1 |
Rs.71.59 |
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Euro |
1 |
Rs.63.01 |
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 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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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 |
|
26 |
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 |
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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 |
|
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.