MIRA INFORM REPORT
|
Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ORVA NETWORKS PRIVATE LIMITED |
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Registered
Office : |
101/1, Ground Floor, 1st Stage, 10th |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
31.12.2008 |
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Com. Reg. No.: |
048746 |
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CIN No.: [Company Identification
No.] |
U72200KA2008PTC048746 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRO03568F |
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PAN No.: [Permanent Account No.] |
AABC01229K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Hardware Components for networking and networking
Contractor. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 3176 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
is Improving its performance. Trade relations are reported as fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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) |
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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
|
Name : |
Mr. Parashiva Ravikumar |
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Designation : |
Director |
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Contact No.: |
91-9980063113 |
|
Date : |
20.04.2011 |
LOCATIONS
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Registered Office : |
101/1, Ground Floor, 1st Stage, 10th |
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Tel. No.: |
91-80-41161040/41538071 |
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Fax No.: |
91-80-41538072 |
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E-Mail : |
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Website : |
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Area : |
1000sq.fts |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Parashiva Ravikumar |
|
Designation : |
Director |
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Address : |
No.69, 7th Cross, Maruthi Layout,
Basaveshwaranagara, |
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Date of Birth/Age : |
18.06.1975 |
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Date of Appointment : |
31.12.2008 |
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Name : |
Mr. Sharanabasavaswamy Ravikumar |
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Designation : |
Director |
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Address : |
No.69, 7th Cross, Maruthi Layout,
Basaveshwaranagara, |
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Date of Birth/Age : |
14.02.1942 |
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Date of Appointment : |
31.12.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sharanabasavaswamy Ravikumar |
|
25000 |
|
Parashiva Ravikumar |
|
25000 |
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Total |
|
50000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Hardware Components for networking and networking
Contractor. |
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Agencies Held : |
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Terms : |
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Selling : |
Cash, Credit (30 days, 60 days,
90 days) |
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Purchasing : |
Cash, Credit (30 days, 60 days,
90 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
The South Indian Bank Limited, Aishwarya Bhavan 9th
A Main I Stage, Indira Nagar, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manjunath Bargeshappa and Associates Chartered Accountant |
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Address : |
No.56, 10th Cross, 2nd Main, 2nd
Stage, Off. |
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Tel No.: |
91-80-23192533 |
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Fax No.: |
91-80-23190933 |
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Associates/Subsidiaries : |
NA |
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 |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
15.000 |
Expected Sales (2011-2012) : Rs.20.000 Millions
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.500 |
0.500 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.294 |
0.070 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.794 |
0.570 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.484 |
0.000 |
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2] Unsecured Loans |
|
3.576 |
1.020 |
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TOTAL BORROWING |
|
4.060 |
1.020 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
4.854 |
1.590 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.387 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.508 |
0.005 |
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DEFERREX TAX ASSETS |
|
0.020 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.245
|
0.007 |
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Sundry Debtors |
|
3.443
|
3.000 |
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Cash & Bank Balances |
|
1.404
|
1.004 |
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Other Current Assets |
|
0.181
|
0.000 |
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Loans & Advances |
|
0.082
|
0.023 |
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Total
Current Assets |
|
6.355
|
4.034 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
0.316
|
0.456 |
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Other Current Liabilities |
|
2.946
|
1.050 |
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Provisions |
|
1.183
|
1.006 |
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Total
Current Liabilities |
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4.445
|
2.482 |
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Net Current Assets |
|
1.910
|
1.552 |
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MISCELLANEOUS EXPENSES |
|
0.029 |
0.033 |
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TOTAL |
|
4.854 |
1.590 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
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|
31.03.2010 |
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SALES |
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TOTAL |
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20.150 |
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Less |
EXPENSES |
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TOTAL |
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19.925 |
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PROFIT BEFORE
TAX |
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0.225 |
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Less |
TAX |
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|
0.060 |
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PROFIT AFTER TAX
|
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0.165 |
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Earnings Per
Share (Rs.) |
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|
3.10 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
0.82 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.91 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.28 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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10.71 |
6.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.43 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars
|
|
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
Sundry Creditors |
|
0.316
|
0.456 |
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NOTE:
The registered address of the company has been
shifted from No.69, 7th Cross, Maruthi Layout, Basaveshwaranagara,
TRADE REFERENCES:
- Quest Info Cum Private Limited
- Shani Peripherals Private Limited
FORM 8:
|
Corporate
identity number of the company |
U72200KA2008PTC048746 |
|
Name of the
company |
ORVA NETWORKS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
NO 101/1, Ground
Floor, 1st Stage, 10th |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Floating Charge |
|
Particular of
charge holder |
THE SOUTH INDIAN
BANK LIMITED |
|
Nature of
instrument creating charge |
Agreement of hypothecation |
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Date of
instrument Creating the charge |
02/07/2010 |
|
Amount secured by
the charge |
Rs.0.500 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest OD : As per
terms. Terms of Repayment
OD : On Demand Extent and
Operation of the charge First charge on
stock and book debts of the company. |
|
Short particulars
of the property charged |
All the stocks
and book debts of the company both present and future. |
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.44.38 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.63.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.