%20PRIVATE%20LIMITED%20%20-%20148655%2028-Jul-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
CARD TEC ( |
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Registered Office : |
48, 3rd Cross, Vasanth Nagar, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
06.05.1997 |
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Com. Reg. No.: |
08-22207 |
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Capital
Investment / Paid-up Capital : |
Rs.3.000 Millions |
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CIN No.: [Company
Identification No.] |
U31909KA1997PTC022207 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRC01189G |
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PAN No.: [Permanent
Account No.] |
AAACC835ON |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of ID Cards, Smart Cards, ATM Cards, Scratch
Cards etc. |
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No. of Employees
: |
20 [Approximately] |
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 20000 |
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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 an established company having moderate track. Profitability
of the company appears to be low. However, 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
cautions. |
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. Manoj Kumar Agarwal |
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Designation : |
Director |
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Contact No.: |
91-9341229002 |
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Date : |
23.07.2010 |
LOCATIONS
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Registered Office : |
48, 3rd Cross, Vasanth Nagar, Bangalore-560052, |
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Tel. No.: |
91-80-23521268 |
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Mobile No. : |
91-9341229002 [Mr. Manoj Agarwal] |
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Fax No.: |
91-80-23133809 |
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E-Mail : |
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Website : |
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Area : |
2000sq.fts. |
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Location : |
Owned |
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Corporate Office/ Factory : |
No.803/A, 5th Main, 5th Cross, Prakash Nagar, |
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Tel. No.: |
91-80-23521268 (5 lines)/ 23523449/ 32991268 |
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Fax No.: |
91-80-23133809/ 23523449 |
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E-Mail : |
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Area : |
7000 sq. ft. |
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Location : |
Leased |
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Branches : |
J -10, ODS, Lajpat Nagar IV, Also Located at: Mumbai |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Manoj Kumar Agarwal |
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Designation : |
Director |
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Address: |
No. 48, 3rd Cross Vesath Nagar, |
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Date of Birth/Age : |
09.09.1968 |
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Qualification : |
B. Sc., MBA, LLB |
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Date of Appointment : |
06.05.1997 |
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DIN : |
01016719 |
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Name : |
Ms. Nisha Agarwal |
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Designation : |
Director |
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Address : |
48, 3rd Cross, Vasanth Nagar, |
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Date of Birth/Age : |
17.08.1974 |
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Qualification : |
B. Com |
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Date of Appointment : |
27.03.2007 |
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DIN : |
01416410 |
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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Abharani Vinimay Private Limited, |
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50000 |
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Manoj Kumar Agarwal |
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37200 |
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Nisha Agarwal |
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8000 |
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Agarwal Traders Private Limited, |
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30000 |
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Kamladevi Agarwal |
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9500 |
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Konark Commercial Limited, |
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12000 |
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Metro Commercial Company Limited, |
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20000 |
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Premier Fintrade Private Limited, Karnataka |
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10000 |
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Select Traders Private Limited, |
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20000 |
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Southern Business Private Limited, |
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20000 |
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Sulabh Vyapar Private Limited, |
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20000 |
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Sunil Agarwal |
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13000 |
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Sushil Agarwal |
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40800 |
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Vimla Agarwal |
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9500 |
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Total |
|
300000 |
As on 3.09.2010
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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 : |
Manufacturer and Exporter of PVC Cards, Distribution Equipment. |
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Products : |
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Exports : |
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Products: |
ID Cards |
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Countries : |
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Imports : |
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Products: |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
IT Sector
Public Sector
Private Sector:
Others :
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No. of Employees : |
20 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
Mr. Manoj Kumar Chartered Accountant |
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Address : |
#115, 3rd Floor, |
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Tel No: |
91-80-32967272 |
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Fax No: |
91-80-22297272 |
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E-Mail: |
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Memberships : |
Reg. No.: NSIC/BNG/GP/20/1725/2001/67 Date Issue: 05.01.2007 Date Expiry: 04.01.2009
Reg. No.; 290201200607 Date Issue: 31.07.2008
Reg. No.: 0/03/4/02890 Date Issue: 29.10.2003 |
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Sister Concerns : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300,000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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300,000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
3.000 |
3.000 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.031 |
1.771 |
1.823 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.031 |
4.771 |
4.323 |
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LOAN FUNDS |
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1] Secured Loans |
5.720 |
8.972 |
0.191 |
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2] Unsecured Loans |
12.550 |
15.857 |
2.288 |
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3] Canara Bank (C.C. Account) |
2.913 |
[0.382] |
11.942 |
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TOTAL BORROWING |
21.183 |
24.447 |
14.421 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
26.214 |
29.218 |
18.744 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.042 |
13.729 |
3.843 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.988
|
6.119
|
0.000
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Sundry Debtors |
10.147
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8.418
|
0.000
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Cash & Bank Balances |
0.039
|
0.252
|
0.000
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Other Current Assets |
0.750
|
0.603
|
0.058
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Loans & Advances |
0.170
|
0.203
|
16.497
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Total
Current Assets |
17.094
|
15.595 |
16.555 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.159
|
[0.120] |
0.005
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Sundry Creditors |
0.416
|
0.008 |
1.499
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Provisions |
0.347
|
0.218 |
0.150
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Total
Current Liabilities |
0.922
|
0.106 |
1.654 |
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Net Current Assets |
16.172
|
15.489 |
14.901
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
26.214 |
29.218 |
18.744 |
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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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Net Business Receipts |
31.397 |
21.665 |
27.632 |
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TOTAL (A) |
31.397 |
21.665 |
27.632 |
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Less |
EXPENSES |
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Cost of Goods Sold |
21.709 |
13.160 |
21.900 |
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Administrative Expenses |
6.827 |
6.484 |
3.817 |
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Preliminary Expenses |
0.000 |
0.000 |
0.003 |
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TOTAL (B) |
28.536 |
19.644 |
25.720 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.861 |
2.021 |
1.912 |
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Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.861 |
2.021 |
1.912 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.422 |
1.723 |
1.091 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.439 |
0.298 |
0.821 |
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Less |
TAX (I) |
0.391 |
0.215 |
0.073 |
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PROFIT AFTER TAX
(G-I) (J) |
0.048 |
0.083 |
0.748 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.089 |
1.006 |
0.258 |
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BALANCE CARRIED
TO THE B/S |
1.137 |
1.089 |
1.006 |
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Earnings Per
Share (Rs.) |
0.16 |
-- |
-- |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
34.300 |
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Expected Sales (2011-2012) : Rs.40.000 Millions
The above information has been parted by Mr. Manoj Kumar Agarwal [Director]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.15
|
0.38 |
2.71
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Net Profit Margin (PBT/Sales) |
(%) |
1.40
|
1.37 |
2.97
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.62
|
1.02 |
4.02
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.06 |
0.19
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Debt Equity Ratio (Total Liability/Networth) |
|
4.39
|
5.15 |
3.72
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Current Ratio (Current Asset/Current Liability) |
|
18.54
|
147.12 |
10.01
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LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The operations
of the company have resulted in Net Profit of Rs. 0.439 million for the year
ended 31-03-2010 after providing depreciation of Rs. 2.423 millions and after
creating a provision for deferred tax liability of Rs. (0.391) million as per
Accounting Standard 22 issued by the Institute of Chartered Accountants of
India. The company was able to achieve a turnover of Rs. 31.397 millions. The
Directors are confident that in the coming years, the company will be able to
achieve a higher turnover and profit.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90200960 |
|
Corporate
identity number of the company |
U31909KA1997PTC022207 |
|
Name of the
company |
CARD TEC ( |
|
Address of the
registered office or of the principal place of business in |
48, 3rd Cross,
Vasanth Nagar |
|
Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Canara Bank, |
|
Nature of
description of the instrument creating or modifying the charge |
Common
Hypothecation Agreement |
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Date of instrument
Creating the charge |
04.09.2008 |
|
Amount secured by
the charge |
Rs.16.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Interest OCC at
13% p.a. TL at 15.25% p.a. Terms of
Repayment - OCC: Repayable On Demand TL to be repaid in 63 months. 60 Monthly installment of
Rs.0.150 million each and interest to be paid as and when due/debited.
Initial repayment holiday of 3 months. Margin – 25% Extent and
Operation of the charge - Hypothecation charge over entire stocks, book
debts, movables, plant and machineries and other assets belonging to the
company. (OCC:Rs.7.500
millions and TL:Rs.9.000 millions) |
|
Short particulars
of the property charged |
Hypothecation of
present and future stocks, book debts, bills receivables, movables, plant and
machineries, graphic printers for data processing of plastic cards consisting
of metos dp 40 press, 4 color digital press, multi sub states paper and all
accessories and punch card pro and accessories and all existing machineries
and other fixed assets of the company at No.803A, 5th main, 5th cross,
Prakash Nagar, Bangalore - 560 021 or wherever else belonging to the company. |
|
Date of latest
modification prior to the present modification |
17.07.2007 |
|
Particulars of
the present modification |
Total limits
enhanced from Rs.10.525 millions to Rs.16.500 millions (OCC:Rs.7.500 millions
and TL:Rs.9.000 millions) All other terms and
conditions incl. all existing securities to continue for the entire limits. |
Fixed Assets:
- Plant and Machinery
- Computers and Peripherals
- Furniture and Fixture
- Office Equipment
- Electrical Assets
- Vehicles
Website Details:
Profile:
Subject is a
domestic company specializing in the manufacture of PVC cards, distribution of
card related equipment and the provision of service bureau to both commercial
and consumer markets.
Building a solid base of customers since 1998, subject began
as a small family-owned business, was recognized in the card industry for their
innovative ideas. Subject as a customized card manufacturer, was integrating
visionary concepts into actual card products. Staying ahead in an ever-changing
market, Subject today offers advanced card products by utilizing up-to-date
manufacturing procedures and equipment. They have built an enduring customer
relation all over
Subject is
situated in the heart of
Subject,
For over ten years, Card Tec,
SERVICES:
CARD
PERSONALISATION SERVICES
These services cater to corporate customers who want their
own professional looking staff passes without investing in printing equipment.
They provide a one-stop solution, from design to printing. With such bureau
services, the company can save cost and valuable time to focus on the core
businesses.
- Allow the security department to manage security, not ID badge
production.
- Reduce overall costs associated with ID badge production including
wear and tear on in-house badge production equipment.
- Create the ID badge layout to meet all the requirements.
- Save cost in employing additional staff to take charge or
stretching the existing staff and in-house graphics capabilities.
- Use an existing photo ID database for the creation of new,
personalized ID badges from Human Resource.
- Trust that multi technology credentials are manufactured and
personalized by a single source in a highly secured facility.
- Eliminate costs associated with cards misprint during the badging
process. Add on, with ease, encoded magnetic stripe or embossing of data
on cards, apart from a simple photo ID.
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.44.12 |
|
|
1 |
Rs.72.05 |
|
Euro |
1 |
Rs.63.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.