4MIRA
INFORM REPORT
|
Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHABRIA INFOTECH PRIVATE LIMITED |
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Registered
Office : |
209, A.J.C. Bose Road, 2nd Floor, Room No.88, P S
Beniapukur, Kolkata – 700017, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.02.1997 |
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Com. Reg. No.: |
21-083056 |
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Capital
Investment/ Paid-up Capital: |
Rs.4.500
Millions |
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CIN No.: [Company Identification
No.] |
U72200WB1997PTC083056 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC03131C |
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PAN No.: [Permanent Account No.] |
AABCC0448C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Resellers of All Brand Software Services Provider For Security Backup
Storage Networking. |
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No. of
Employees: |
45 (In Office ) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 63000 |
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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 an 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 normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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. Piyush |
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Designation : |
Manager Accounts |
LOCATIONS
|
Registered Office : |
209, A.J.C. Bose Road, 2nd Floor, Room No.88, P S
Beniapukur, Kolkata – 700017, West |
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Tel. No.: |
91-33-22803375/ 22803376/ 22802304 |
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Fax No.: |
91-33-22810883 |
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E-Mail : |
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Area : |
3000 sq. ft. |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mrs. Deepa Chabria |
|
Designation : |
Director |
|
Address : |
34/1Y, Ballygunge, |
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Date of Birth/Age : |
08.02.1970 |
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Date of Appointment : |
25.02.1997 |
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Name : |
Mr. Hemant Chabria |
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Designation : |
Director |
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Address : |
34/1Y, Ballygunge, |
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Date of Birth/Age : |
01.03.1970 |
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Date of Appointment : |
25.02.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Hemant Chabria |
|
35980 |
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Mrs. Deepa Chabria |
|
9020 |
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Total |
|
45000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Resellers of All Brand Software Services Provider For Security Backup
Storage Networking. |
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Term : |
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Purchasing : |
Cash, Credit |
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Selling : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
Corporates v
Ministry of Communication and Information
Technology v
Bhushan Limited v
C.E.S.C. Limited v
National Bank for Agriculture and Rural
Development v
Tata Teleservices Limited v
Techno Electric and Engineering Company Limited v
Allahabad Bank v
v
Ambuja Cement Eastern Limited v
Bengal Ambuja Housing Development Limited v
Lodha and Company v
Tata International Limited v
TCG Software Services Private Limited v
Tezpore Tea Company Limited |
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No. Of Employees : |
45 (In Office ) (Approximately) |
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Bankers : |
v
Punjab National Bank v
Standard Chatered Bank, v
Axis Bank Limited, Knkurgachi Branch, P.35,
C.I.T. Scheme VII (H), Manicktala, v
Yes
Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant
Road, Worli, Mumbai – 400018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K.K. Mondal and Company Chartered Accountant |
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Address : |
P.O. Kanyanagar, 2nd Floor, D.H. Road, opposite B.P. Petrol
Pump, Amtala, South 24 PGS – 743398, West Bengal, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44950 |
Equity Shares |
Rs.100/-
each |
Rs.4.495
Millions |
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|
50 |
Equity Shares other than cash |
Rs.100/-
each |
Rs. 0.005
Million |
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Total |
|
Rs.4.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.500 |
4.500 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
2.500 |
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|
3] Reserves & Surplus |
11.137 |
9.757 |
8.342 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
15.637 |
14.257 |
12.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.940 |
5.571 |
15.925 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
29.940 |
5.571 |
15.925 |
|
|
DEFERRED TAX LIABILITIES |
0.119 |
0.119 |
0.119 |
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|
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|
|
|
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TOTAL |
45.696 |
19.947 |
28.886 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
13.067 |
2.341 |
3.063 |
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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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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
13.629
|
7.031 |
3.986 |
|
|
Sundry Debtors |
38.963
|
26.644 |
33.707 |
|
|
Cash & Bank Balances |
7.665
|
5.926 |
4.308 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
9.578
|
9.353 |
7.049 |
|
Total
Current Assets |
69.835
|
48.954 |
49.050 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
34.309
|
28.191 |
20.126 |
|
|
Provisions |
2.897
|
3.157 |
3.101 |
|
Total
Current Liabilities |
37.206
|
31.348 |
23.227 |
|
|
Net Current Assets |
32.629
|
17.606 |
25.823 |
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
45.696 |
19.947 |
28.886 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
191.289 |
176.459 |
202.876 |
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Other Income |
|
|
|
|
|
|
TOTAL |
191.289 |
176.459 |
202.876 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
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|
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|
|
|
|
|
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|
Administrative Expenses |
|
|
|
|
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|
Advertising Expenses |
189.249 |
174.358 |
198.024 |
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Interest |
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Depreciation |
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TOTAL |
189.249 |
174.358 |
198.024 |
|
|
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PROFIT BEFORE
TAX |
2.040 |
2.101 |
4.852 |
|
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|
|
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|
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Less |
TAX |
0.661 |
0.686 |
1.841 |
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|
|
|
|
|
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|
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PROFIT AFTER TAX
|
1.379 |
1.415 |
3.011 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.696 |
8.280 |
5.268 |
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|
BALANCE CARRIED
TO THE B/S |
11.075 |
9.696 |
8.280 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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|
Export Earnings |
0.466 |
0.796 |
1.001 |
|
|
TOTAL EARNINGS |
0.466 |
0.796 |
1.001 |
|
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|
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|
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|
Earnings Per
Share (Rs.) |
30.66 |
31.45 |
-- |
|
Expected Sales (2010-2011) : Rs. 240.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.72
|
0.80 |
1.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.06
|
1.19 |
2.39 |
|
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.46
|
4.09 |
9.31 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.14 |
0.37 |
|
|
|
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|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.29
|
2.58 |
3.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87
|
1.56 |
2.11 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS:
During the year,
the company couldn't achieved a sales growth in some product categories in
comparison to the previous year due to the rescission and economic disaster in
the world market and the Indian marker as well. Inspite of adverse market
scenario the Directors are also pleased to inform that the company was
appreciated by Microsoft, Syrnantec, Adobe, Autodesk and HCL Infosystems
Limited for the performance. Like previous years the company has bagged many
laurels. The Directors are also hopeful to achieve new heights in business
performance in the next year.
Trade References :
Mclead Russcl
Form : 8
|
Corporate
identity number of the company |
U72200WB1997PTC083056 |
|
Name of the
company |
CHABRIA INFOTECH
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
209 A.J C Bose
Road2nd Floor Room No 88 P S Beniapukur, Kolkata – 700017, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable property
Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
Yes Bank Limited,
9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Nature of instrument
creating charge |
Memorandum of
Equitable Mortgage dated 28/10/2010 |
|
Date of
instrument Creating the charge |
28/10/2010 |
|
Amount secured by
the charge |
Rs. 32.100
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest : WCDL - YBLBR plus
2.75%p.a.(Current YBLBR is 7%p.a.), Effective Rate of Interest is 9.75%p.a. CC - YBLBR plus
4%p.a. BG - Comm: 1.25%
p.a. (to be collected up front) Term Loan - YBLBR plus 4.75% p.a. Terms of repayment : WCDL - 90 days Cash Credit -
Repayable on Demand Bank Guarantee -
36 months (including claim period, if any) Term Loan - 42
months (Balance tenor with SCB) Margin : WCDL - 25% on Book
Debts (less than 90 days old) plus Stocks minus Creditors. Cash Credit - 25%
on Book Debts (less than 90 days old) plus Stocks minus Creditors Bank Guarantee -
15% of the bank guarantee amount in form of Fixed Deposit under lien with
YBL. Term Loan - NIL Extent and operation of the charge : 1) Exclusive
charge by way of equitable mortgage of immovable property situated at Unit
No: 4 and 5, 1st Floor, Karnani Estate, 2) Exclusive
charge on Current Assets & movable Fixed Assets of the borrower (both
present and Future). Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
Unit No: 4 and 5,
1st Floor, Karnani Estate, |
|
Date of
instrument modifying the charge |
22/07/2010 |
|
Particulars of
the present modification |
The charge has
been extended to the Exclusive charge by way of equitable mortgage of immovable
property situated at Unit No: 4 and 5, 1st Floor, Karnani Estate, |
Fixed Assets :
v Land and Building
v Computer Machinery
v Printer
v Television
v Scanner
v Pager
v Computer Software
v Motor Bike
v Office Equipments
v Furniture
v Cell Phone
v Fax Machine
v Generator
v Air Conditioner
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. 45.37 |
|
|
1 |
Rs. 73.53 |
|
Euro |
1 |
Rs. 64.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.