MIRA INFORM REPORT
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Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SYS-PRO TECHNOLOGIES PRIVATE LIMITED (w.e.f. 23.07.1999) |
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Formerly Known As : |
BRILIJANT TRADING PRIVATE LIMITED |
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Registered Office : |
302, 3rd Floor, 50 Lucky Corner Co-operative Premises
Society Limited, Andheri (East), Mumbai – 400099, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
07.11.1997 |
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Com. Reg. No.: |
11-111768 |
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CIN No.: [Company
Identification No.] |
U51900MH1997PTC111768 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS42780D |
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PAN No.: [Permanent
Account No.] |
AAACB4501E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Company is in the business of purchasing and selling of tele
communication equipments and computer hardware and software packages and
steel. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 179124 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered good for normal 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. Vinod Satelkar |
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Designation : |
Director |
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Contact No.: |
91-9322433751 |
LOCATIONS
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Registered Office : |
302, 3rd Floor, 50 Lucky Corner Co-operative Premises
Society Limited, Andheri (East), Mumbai-400099, |
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Tel. No.: |
91-22-66973156/ 157/ 197 |
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Fax No.: |
91-22-66973157 |
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E-Mail : |
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Area : |
400 sq. ft. |
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Location : |
Rented |
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Godown : |
Fam Vishar, Shop No. 13, b/ 5, Sector 15, Kolamboli, Navi Mumbai |
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Warehouse : |
Guruprem Grihanirman CHS. Shop No. 3, Ground Floor, Plot No. 25,
Sector -4, Navi Mumbai-410218, |
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Branch Office : |
1st Floor, Room No. 1012, Ring Road, Surat- 395002, Gujarat, India. |
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Tel. No.: |
91-261-2363390 |
/DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Dhiraj Manaji Chavan |
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Designation : |
Director |
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Address : |
4/285, mangal Kiran Society, Old MHB Colony, Gorai Rord, Borivali
(West), Mumbai-400091, |
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Date of Birth/Age : |
20.09.1969 |
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Qualification : |
B.Com |
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Date of Appointment : |
18.11.1997 |
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Name : |
Mr. Vinod Laxman Satelkar |
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Designation : |
Director |
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Address : |
12/C, Elizabeth Appartment, B.M. Marg, |
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Date of Birth/Age : |
10.11.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
02.12.1997 |
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Name : |
Mr. Govind Digambar Masurkar |
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Designation : |
Director |
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Address : |
L45, 703, Poonamsagar Complex, Opposite Sector 9 and 10, |
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Date of Birth/Age : |
26.09.1966 |
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Qualification : |
Graduate |
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Date of Appointment : |
23.06.2003 |
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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Vinod Laxman Stelkar |
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15800 |
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Dhiraj Manaji Chavan |
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8550 |
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Govind Digambar Masurkar |
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2250 |
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Total |
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26600 |
AS ON 30.09.2010
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Category |
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Percentage |
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Directors or relatives of directors |
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91.00 |
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Other Top Fifty |
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9.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Company is in the business of purchasing and selling of tele
communication equipments and computer hardware and software packages and
steel. |
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Products : |
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Exports : |
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Products : |
Software and Hardware Products |
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Countries : |
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Imports : |
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Products : |
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Raw Material ·
Hardware Parts |
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Countries : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
5 (Office 4, Factory 1) |
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Bankers : |
Syndicate Bank, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Yogesh S. Thakkar and Associates Chartered Accountant |
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Address : |
3, Gopi Sadan, Carter No.5, Borivali, Mumbai – 400066, |
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Tel No.: |
91-22-28701030 |
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Email: |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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26600 |
Equity Shares |
Rs.10/- each |
Rs.0.266
Million |
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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 |
0.266 |
0.266 |
0.266 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
44.515 |
23.132 |
12.468 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
44.781 |
23.398 |
12.734 |
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LOAN FUNDS |
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1] Secured Loans |
247.850 |
0.000 |
0.000 |
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2] Unsecured Loans |
651.588 |
0.000 |
0.000 |
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TOTAL BORROWING |
899.438 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.005 |
0.000 |
0.000 |
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TOTAL |
944.224 |
23.398 |
12.734 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.037 |
0.029 |
0.043 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.413 |
0.413 |
0.413 |
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DEFERREX TAX ASSETS |
0.000 |
0.959 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
33.083
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19.449
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0.000
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Sundry Debtors |
0.000
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3.742
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0.000
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Cash & Bank Balances |
5.219
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1.921
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1.364
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
1798.849
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504.750
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417.496
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Total
Current Assets |
1837.151
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529.862
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418.860
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
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0.000
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0.000
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Other Current Liabilities |
871.532
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494.903
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400.283
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Provisions |
21.845
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12.962
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6.299
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Total
Current Liabilities |
893.377
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507.865
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406.582
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Net Current Assets |
943.774
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21.997
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12.278
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
944.224 |
23.398 |
12.734 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL |
823.098 |
1027.798 |
552.353 |
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Less |
EXPENSES |
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TOTAL |
789.759 |
1011.430 |
548.733 |
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PROFIT BEFORE
TAX |
33.338 |
16.368 |
3.620 |
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Less |
TAX |
11.955 |
5.704 |
1.507 |
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PROFIT AFTER TAX
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21.383 |
10.664 |
2.113 |
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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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PAT / Total Income |
(%) |
2.60
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1.04
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0.38
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.81
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3.09
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0.86
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Return on Investment (ROI) (PBT/Networth) |
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0.74
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0.70
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0.28
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Debt Equity Ratio (Total Liability/Networth) |
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40.03
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21.71
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31.92
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Current Ratio (Current Asset/Current Liability) |
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2.06
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1.04
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1.03
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LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
PERFORMANCE:
During the year, the company has registered an income from operations of Rs.823.098 Millions as against Rs.1027.798 Millions during the previous year. Despite of lower turnover as compared to the previous year. The your Company has managed to earn a Profit after Tax of Rs.21.383 Millions as against Profit of Rs.10.664 Millions during the previous year.
The directors are hopeful of even better performance in the coming years
bearing any unforeseen circumstances.
FIXED ASSETS:
· Computer and
Accessories
· Typewriting
Machine
· Furniture and
Fixture
· Telecommunication
Equipments
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 |
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US Dollar |
1 |
Rs.44.52 |
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|
1 |
Rs.72.71 |
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Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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 |
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49 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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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.