MIRA INFORM REPORT
|
Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
YASH TECHNOLOGIES
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
201-205, Bansi Trade Centre, 581/5, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
31.12.2002 |
|
|
|
|
Com. Reg. No.: |
10-15480 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200MP2002PTC015480 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BPLY00049A BPLY00062G |
|
|
|
|
PAN No.: |
AAACY1868M |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Providing IT Services and Solutions. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1239000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
Relations are reported as fair. Business is active. Payments are reported to
be correct and as per commitments. The company can be considered normal for business dealings at usual
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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Ashish Kabra |
|
Designation : |
Accountant |
|
Date : |
06.04.2011 |
LOCATIONS
|
Registered Office : |
201-205, Bansi Trade Centre, 581/5, |
|
Tel. No.: |
91-731-4261100 / 200 |
|
Fax No. : |
91-731-4261234 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Western Region
ODC and Sales Centre : |
Mumbai - A-wing, Office
No.-703, 7th Floor, Tel. No. : 91-22-29209711 / 29209712 Pune - Wing A, Level -6, Tower X, Cybercity,
Magarpatta City, Hadapsar, Pune, Maharshtra – 411028 Tel. No. : 91-20-66088000 / 01 |
|
|
|
|
Southern Region
ODC and Sales Centre : |
Tel. No. : 91-40-40403456 Fax No. : 91-40-40403555 Secunderabad - 1&7 Level,
|
|
|
|
|
Office : |
YASH
Software Development Center |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kirti Kumar
Baheti |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
31.07.1958 |
|
Date of Appointment : |
31.12.2002 |
|
DIN : |
00989116 |
|
|
|
|
Name : |
Mr. Manoj Baheti |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
01.03.1961 |
|
Date of Appointment : |
31.12.2002 |
|
DIN : |
00713769 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kirti Kumar
Baheti |
|
4990 |
|
Manoj Baheti |
|
5000 |
|
Shri Dharmendra
Jain |
|
10 |
|
Yash Technologies
Inc., |
|
2875300 |
|
Total |
|
2885300 |
As on 30.09.2010
|
Category |
Percentage |
|
|
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.65 |
|
Directors or relatives of Directors |
0.35 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing IT Services and Solutions. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged by
management |
|
|
|
|
Bankers : |
Standard
Chartered Bank, D M Towers, 21/1, |
|
|
|
|
Facilities : |
-- |
|
Banking
Relationship : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Abhishek Gang and
Company Chartered
Accountant |
|
Address : |
511, |
|
Tel. No. : |
91-731-4092039 /
2402104 |
|
Email : |
|
|
Website : |
|
|
Pan No.: |
AEXPG6845E |
|
|
|
|
Holding Company : |
|
|
|
|
|
Subsidiaries : |
CIN :
U74140MP2003PTC015754
CIN :
U72900AP2006PTC050460 |
|
|
|
|
Joint Venture : |
|
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,885,300 |
Equity Shares |
Rs. 10/- Each |
Rs. 28.853 Millions |
|
|
|
|
|
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 |
28.853 |
28.853 |
28.853 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
280.994 |
217.289 |
192.322 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
309.847 |
246.142 |
221.175 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
309.847 |
246.142 |
221.175 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
97.961 |
107.262 |
117.284 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
30.079 |
35.089 |
0.456 |
|
|
DEFERREX TAX ASSETS |
5.213 |
0.000 |
0.006 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
218.673
|
157.708 |
174.647 |
|
|
Cash & Bank Balances |
19.079
|
41.199 |
14.817 |
|
|
Other Current Assets |
19.997
|
23.461 |
25.887 |
|
|
Loans & Advances |
54.252
|
43.453 |
58.394 |
|
Total
Current Assets |
312.001
|
265.821 |
273.745 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.502
|
9.638 |
21.341 |
|
|
Other Current Liabilities |
91.983
|
130.975 |
129.059 |
|
|
Provisions |
31.922
|
21.417 |
19.916 |
|
Total
Current Liabilities |
135.407
|
162.030 |
170.316 |
|
|
Net Current Assets |
176.594
|
103.791 |
103.429 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
309.847 |
246.142 |
221.175 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
TURNOVER |
774.176 |
667.299 |
684.900 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
66.217 |
31.679 |
81.163 |
|
|
|
|
|
|
|
|
TAX |
6.041 |
3.830 |
7.599 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) |
60.176 |
25.165 |
72.024 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
60.176 |
25.165 |
72.024 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
478.591 |
564.069 |
506.631 |
|
|
|
|
|
|
|
|
IMPORTS |
4.009 |
7.334 |
7.472 |
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
20.86 |
10.41 |
552.16 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.15
|
8.49 |
20.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.13 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.44
|
0.66 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30
|
1.64 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors :
(Rs.in millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Total Outstanding Dues to MSME |
0.000 |
0.000 |
0.000 |
|
Others |
11.502 |
9.638 |
21.342 |
|
Total |
11.502 |
9.638 |
21.342 |
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U72200MP2002PTC015480 |
|
Name of the
company |
YASH TECHNOLOGIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201-205, Bansi
Trade Centre, |
|
Type of charge |
|
|
Particular of
charge holder |
Standard
Chartered Bank, D M Towers, 21/1, Email : reenabang@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Unattested
Memorandum of Hypothecation |
|
Date of instrument
Creating the charge |
07.06.2008 |
|
Amount secured by
the charge |
Rs.60.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Post Shipment Finance facilities. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment - As agreed by and with the Bank from time to time. Margin - As
applicable, if any. Extent and
Operation of the charge - The Bank is having first charge on current and
movable fixed assets located at |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge on: a) all present and future book debts, outstanding
moneys receivables, claims and bills b) all present and future stock in trade
consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise c) all present and future of the movable
properties of the Company located at (As more
described in the Schedule of enclosed Agreement) |
FIXED ASSETS :
- Computer
- Computer Software
- Office Equipment
- Furniture and Fixtures
- Land
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.44.04 |
|
|
1 |
Rs.72.19 |
|
Euro |
1 |
Rs.63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
48 |
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.