MIRA INFORM REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ONLINE IT SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
B-4/259, Safdarjung Enclave, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.08.2006 |
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Com. Reg. No.: |
55-152123 |
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CIN No.: [Company Identification
No.] |
U72900DL2006PTC152123 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELO03345G |
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PAN No.: [Permanent Account No.] |
AAACO8524G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Customized turnkey Solutions for Networking and Integration of
data, voice and video deploying various media. |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 7000 |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having steady business. Its scale of activities
are limited. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small 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
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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
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Name : |
Mr. Abhimanyu |
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Designation : |
Director |
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Contact No.: |
91-11-47598900 |
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Date : |
08.04.2011 |
LOCATIONS
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Registered Office : |
B-4/259, Safdarjung Enclave, |
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Tel. No.: |
91-11-47598900 |
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Fax No.: |
91-11-47598969 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Branch office : |
T-17/2, DLF Phase III, Gurgaon – 122001, |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Abhimanyu Bhatia |
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Designation : |
Director |
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Address : |
B-4/259, Safdarjung Enclave, |
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Date of Birth/Age : |
28.04.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.08.2006 |
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Name : |
Mr. Sashi Bhatia |
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Designation : |
Director |
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Address : |
B-4/259, Safdarjung Enclave, |
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Date of Birth/Age : |
06.10.1947 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.08.2006 |
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Name : |
Mrs. Choru Bhatia |
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Designation : |
Director |
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Address : |
B-4/259, Safdarjung Enclave, |
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Date of Birth/Age : |
27.01.1978 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.08.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Abhimanyu Bhatia |
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7000 |
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Mr. Sashi Bhatia |
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2000 |
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Mrs. Choru Bhatia |
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1000 |
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Total |
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10000 |
As on 30.09.2010
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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 : |
Providing Customized turnkey Solutions for Networking and Integration
of data, voice and video deploying various media. |
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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 : |
25 (Approximately) |
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Bankers : |
Kotak Mahindra Bank, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Charnalia Bhatia and Gandhi Chartered Accountant |
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Address : |
B-14, Lajpat Nagar, Part III, |
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Tel. No.: |
91-11-46663600 |
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Fax No.: |
91-11-46569255 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.00 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.737 |
1.133 |
1.111 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.837 |
1.233 |
1.211 |
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LOAN FUNDS |
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1] Secured Loans |
0.330 |
0.509 |
0.000 |
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2] Unsecured Loans |
0.855 |
1.020 |
0.000 |
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TOTAL BORROWING |
1.185 |
1.529 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.022 |
2.762 |
1.211 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.227 |
1.398 |
1.050 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.250 |
1.250 |
0.000 |
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DEFERREX TAX ASSETS |
0.043 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.772
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0.962 |
0.704 |
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Sundry Debtors |
3.718
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3.330 |
6.359 |
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Cash & Bank Balances |
1.545
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0.408 |
0.157 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.233
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1.040 |
2.307 |
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Total
Current Assets |
8.268
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5.740 |
9.527 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
6.737
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4.525 |
8.577 |
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Other Current Liabilities |
1.579
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1.106 |
0.796 |
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Provisions |
0.452
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0.000 |
0.000 |
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Total
Current Liabilities |
8.768
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5.631 |
9.373 |
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Net Current Assets |
(0.500)
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0.109 |
0.154 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.005 |
0.007 |
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TOTAL |
3.022 |
2.762 |
1.211 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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23.928 |
26.602 |
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Other Income |
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9.378 |
1.100 |
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TOTAL (A) |
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33.306 |
27.702 |
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Less |
EXPENSES |
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Cost of Goods Sold |
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20.220 |
22.904 |
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Accounting Supervision Charges |
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0.000 |
0.182 |
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Advertisement Expenses |
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0.000 |
0.147 |
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Audit Fees |
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0.094 |
0.028 |
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Bank Charges |
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0.003 |
0.004 |
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Bonus |
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0.000 |
0.020 |
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Business Promotion Expenses |
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0.074 |
0.192 |
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Central Sales Tax Penalty |
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0.020 |
0.000 |
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Computer maintenance charges |
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0.736 |
0.022 |
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Commission paid |
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0.000 |
0.002 |
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Directors Remuneration |
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1.095 |
0.236 |
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Discount Allowed |
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0.000 |
0.024 |
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Electricity and Water Expenses |
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0.000 |
0.003 |
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Festival Expenses |
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0.038 |
0.021 |
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Dual Penalty |
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0.020 |
0.000 |
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Filling Fees |
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0.003 |
0.000 |
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Income tax Penalty |
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0.249 |
0.000 |
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Installation charges |
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1.237 |
0.271 |
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Interest on TDS payable |
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0.003 |
0.000 |
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Interest paid on car loan |
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0.072 |
0.034 |
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Insurance expenses |
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0.022 |
0.002 |
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Legal and professional charges |
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0.007 |
0.043 |
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Membership fees |
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0.000 |
0.002 |
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Misc. expenses |
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0.000 |
0.002 |
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Lan management charges |
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2.667 |
0.000 |
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Networking charges |
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0.012 |
0.291 |
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Office expenses |
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0.037 |
0.100 |
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Postage expenses |
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0.026 |
0.062 |
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Printing and stationery |
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0.013 |
0.030 |
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Project management charges |
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3.364 |
0.000 |
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Preliminary expenses written off |
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0.002 |
0.002 |
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Rent |
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0.000 |
0.116 |
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Salaries |
|
0.689 |
0.875 |
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Sundries W/O |
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0.001 |
0.000 |
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Service and Testing charges |
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0.213 |
0.362 |
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Staff Welfare Expenses |
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0.001 |
0.002 |
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Termination charges |
|
0.203 |
0.000 |
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Technical Assistant Fees |
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0.000 |
0.338 |
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Telephone expenses |
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0.221 |
0.171 |
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Travelling expenses |
|
0.236 |
0.004 |
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Vehicle running maintenance |
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0.037 |
0.067 |
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TOTAL (B) |
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31.615 |
26.559 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.691 |
1.143 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.618 |
0.441 |
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PROFIT BEFORE
TAX (E-F) (G) |
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1.073 |
0.702 |
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Less |
TAX (I) |
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NA |
NA |
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PROFIT AFTER TAX
(G-I) (J) |
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NA |
NA |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
2.64 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.22
|
9.83 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.57 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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5.42
|
5.81 |
7.74 |
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Current Ratio (Current Asset/Current Liability) |
|
0.94
|
1.02 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
6.737
|
4.525 |
8.577 |
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Total |
6.737
|
4.525 |
8.577 |
OPERATIONS :
The company has earned a revenue of Rs.23.928 Millions during the year.
The company has hopes to do better in the next financial year.
TRADE REFERENCES :
- Mitsubishi
Heavy Industries Limited
- Tata
Chemicals Limited
- Chambal
Fertilizers and Chemicals Limited
- Walmart
FIXED ASSETS :
- Air Conditioner
- Refrigerator
- Motor Bike
- Honda City
- Scorpio
- Computers
- Laptop
- Tata Safari
- Office Table
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 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.44.20 |
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|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
28 |
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.