MIRA
INFORM REPORT
|
Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEW ERA INFORMATIQUE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
314, 3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.06.2006 |
|
|
|
|
Com. Reg. No.: |
11-162912 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH2006PTC162912 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13962E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN3251D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Service Provider of Computer Goods. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 82000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
INFORMATION PARTED BY
|
Name : |
Ms. Sapna |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-42156645 |
|
Date : |
20.12.2011 |
LOCATIONS
|
Registered Office : |
314, 3rd Floor, |
|
Tel. No.: |
91-22-42156645 / 42156644 |
|
Fax No.: |
91-22-42156659 |
|
E-Mail : |
mahindra@newera-technology.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Service Centre : |
120, |
DIRECTORS
As on 10.09.2011
|
Name : |
Mr. Dinesh Ramesh Ochani |
|
Designation : |
Director |
|
Address : |
605, Winona, Hiranandani Estate, |
|
Date of Birth/Age : |
25.05.1976 |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
01870189 |
|
|
|
|
Name : |
Mr. Naresh Ramesh Ochani |
|
Designation : |
Director |
|
Address : |
605, Winona, Hiranandani Estate, |
|
Date of Birth/Age : |
25.01.1971 |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
01913978 |
KEY EXECUTIVES
|
Name : |
Ms. Sapna |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Ramesh Ochani |
|
650 |
|
Naresh Ramesh Ochani |
|
300 |
|
Naresh Ramesh Ochani (Note 1) |
|
50 |
|
Total |
|
1000 |
Note
1.
Above shares have been
transferred by Neeta Rijhwani to Naresh Ochani on 15.03.2011 and accordingly
the transfer has been recorded from the above date.
As on 10.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Service Provider of Computer Goods. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Redington ·
Ingram ·
·
D. C Systems ·
Neoteric Infomatique Limited ·
Chipcom Traders ·
Jayshree Infosys ·
Mahavir sys Power Private Limited ·
Rashi Peripherals
·
Sonic Informatique ·
Mascot Systems |
|
|
|
|
Customers : |
End Users ·
Yatra Online ·
TV 18 ·
Home Shopping Network Limited ·
Actimedia Private Limited ·
Asmi Realtors ·
CMC Limited ·
Dodsal Enterprises Private Limited ·
India Web Portal Private Limited ·
KD Trading Company |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
·
Indusind Bank Limited IndusInd House, 425, Dadasaheb Bhadkamkar
Marg, Mumbai – 400 004, ·
Bank of ·
ICICI Bank |
|
|
|
|
Facilities : |
Cash Credit Rs.7.000 millions (IndusInd Bank Limited) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
CA Gurdeepsingh Purswani Chartered Accountant |
|
Address : |
3, Samarpan Complex, Opposite Power House, Sector – 17, |
|
PAN No.: |
ABBPP0378C |
|
|
|
|
Sister Concerns : |
New Era Technology |
CAPITAL STRUCTURE
As on 10.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20.326 |
13.638 |
11.369 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.426 |
13.738 |
11.469 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.056 |
0.060 |
0.075 |
|
|
|
|
|
|
|
|
TOTAL |
20.482 |
13.798 |
11.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.687 |
0.381 |
0.467 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.865
|
6.325 |
3.900 |
|
|
Sundry Debtors |
24.698
|
11.885 |
7.164 |
|
|
Cash & Bank Balances |
8.113
|
4.429 |
1.359 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.414
|
7.188 |
7.450 |
|
Total
Current Assets |
49.090
|
29.827 |
19.873 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.882 |
10.392 |
2.873 |
|
|
Other Current Liabilities |
6.194
|
0.132 |
0.018 |
|
|
Provisions |
5.219
|
5.890 |
5.913 |
|
Total
Current Liabilities |
29.295
|
16.414 |
8.804 |
|
|
Net Current Assets |
19.795
|
13.413 |
11.069 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.004 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
20.482 |
13.798 |
11.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
116.980 |
61.528 |
48.804 |
|
|
|
Service Income |
12.115 |
3.344 |
12.295 |
|
|
|
TOTAL (A) |
129.095 |
64.872 |
61.099 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
99.163 |
52.719 |
39.824 |
|
|
|
Direct Expenses |
3.094 |
1.219 |
7.929 |
|
|
|
Personnel Expenses |
6.353 |
4.158 |
3.537 |
|
|
|
Other Expenses |
13.964 |
5.711 |
4.498 |
|
|
|
Change in Stock |
(3.540) |
(2.425) |
1.121 |
|
|
|
TOTAL (B) |
119.034 |
61.382 |
56.909 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.061 |
3.490 |
4.190 |
|
|
|
|
|
|
|
|
|
Less |
FINANCE EXPENSES (D) |
0.209 |
0.024 |
0.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.852 |
3.466 |
4.136 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.172 |
0.181 |
0.282 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
9.680 |
3.285 |
3.854 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.992 |
1.016 |
1.265 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
6.688 |
2.269 |
2.589 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6688.04 |
2268.72 |
2588.79 |
|
Expected Sales (2011-2012) : Rs.137.600 millions (Till date)
The above information has been parted by Ms. Sapna
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.18
|
3.50 |
4.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.27
|
5.34 |
7.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.45
|
10.87 |
18.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.24 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.43
|
1.19 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.82 |
2.26 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Sundry Creditors for Goods |
13.440 |
8.973 |
2.591 |
|
Sundry Creditors for Expenses |
4.442 |
1.419 |
0.282 |
|
Total |
17.882 |
10.392 |
2.873 |
PARTIAL DETAILS OF
SUNDRY CREDITORS
|
Sundry Creditors
for Goods |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
|
0.033 |
0.008 |
0.003 |
|
Arihant Infomatics |
0.001 |
0.030 |
0.000 |
|
Boston Limited |
3.227 |
1.698 |
0.000 |
|
Computer Depot |
0.659 |
0.136 |
1.010 |
|
D. C Systems |
0.002 |
0.011 |
0.000 |
|
Mumbai Infotech |
0.005 |
0.002 |
0.000 |
|
Neoteric Informatique Limited |
0.026 |
0.595 |
0.000 |
|
RT Outsourcing Services Limited |
0.001 |
0.004 |
0.000 |
|
Sharp Traders |
0.001 |
0.001 |
0.001 |
|
Sundry Creditors
for Expenses |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
A. G. Consultants |
0.038 |
0.002 |
0.012 |
|
Sai Infotech |
0.002 |
0.003 |
0.002 |
|
Blue Dart Express Limited |
0.258 |
0.000 |
0.000 |
|
Meena Agarwal |
0.404 |
0.000 |
0.000 |
|
Prism Art Printers |
0.422 |
0.413 |
0.000 |
|
Commission Payable |
0.644 |
0.000 |
0.000 |
|
TDS on Salary |
0.339 |
0.032 |
0.005 |
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
YES |
|
16. |
Details of sister concerns |
YES |
|
17. |
Major Suppliers |
YES |
|
18. |
Major Customers |
YES |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
-- |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
YES |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
NOTE
The Registered Office of the company has been shifted from Gala No. 127 and
128, Jaywant Industrial Estate,
BUSINESS ACTIVITY
The company had achieved Gross Turnover of Rs.129.095 millions and Net Profit
of Rs.6.688 millions as compared to corresponding turnover of Rs.64.872 and Net
Profit of Rs.2.269 last year.
FUTURE SCENARIO
The company foresees a better business environment and demand in years
to come.
FORM 8
|
Corporate identity number of the company |
U74140MH2006PTC162912 |
|
Name of the company |
NEW ERA INFORMATIQUE PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
314, 3rd Floor, |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
IndusInd Bank Limited IndusInd House, 425, Dadasaheb Bhadkamkar Marg, Mumbai – 400 004, |
|
Nature of instrument creating charge |
Composite Agreement for Hypothecation of Stocks, Book Debts, Plant and
Machinery and Other Current Assets.(Covering all working Capital limits
including WCDL and Term Loan) |
|
Date of instrument Creating the charge |
18.12.2010 |
|
Amount secured by the charge |
Rs.7.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest @ 4% p.a. above Bank's Base Rate, presently 7.5% p.a. Terms of Repayment On Demand Margin As may be stipulated by Bank from time to time Extent and Operation of the charge Hypothecation by way of first charge on Stocks, Book Debts and Plant
and Machineries for repayment of Credit
facility/ies aggregating Rs.7.000 millions, together with all
interest, costs, charges, expenses and other monies due and payable under the
said facilities granted by the Bank to the Company. Others Nil |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of all stocks of
goods such as raw materials, goods in process, finished goods, consumable
stores, spares and other items of stocks in trade, documents of title to
goods, all its plant and machinery now existing and now belonging to and in
possession of or in transit to the company. |
TRADE REFERENCES
·
Redington
·
Ingram
·
Yatra Online
·
TV 18
·
Home Shopping Network Limited
FIXED ASSETS
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Telephones
·
Refrigerators
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.53.03 |
|
|
1 |
Rs.82.34 |
|
Euro |
1 |
Rs.69.00 |
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 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.