MIRA
INFORM REPORT
|
Report Date : |
30.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ULTIMATE COMPUTECH PRIVATE LIMITED |
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Registered
Office : |
26-2 Navjeevan Society Building No. 3, 9th Floor, Lamington
Road, Mumbai 400008, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.09.2002 |
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Com. Reg. No.: |
137118 |
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Capital
Investment / Paid-up Capital : |
Rs.0.150 million |
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CIN No.: [Company Identification
No.] |
U72200MH2002PTC137118 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU03301E |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Dealer and Distributor of Computer Parts and Providing Networking
Solution. |
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No. of Employees
: |
22 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 6364 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Its scale of
activities are limited. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 : |
Mr. Jimmy |
|
Designation : |
Director |
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Contact No.: |
91-22-43455000 |
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Date : |
29.12.2011 |
LOCATIONS
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Registered Office : |
26-2 Navjeevan Society Building No. 3, 9th Floor, Lamington
Road, Mumbai 400008, Maharashtra, India
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E-Mail : |
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Head Office : |
12, Noor Mahal, Sir Ratan Tata Street, Tardeo, Mumbai 400034,
Maharashtra, India |
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Tel. No.: |
91-22-43455000 |
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Fax No.: |
91-22-43455050 |
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Location : |
Rented |
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Branch Office : |
Shop No. 102, 1st Floor, Shree Bhawani Market, Sardar Chowk,
Opposite Vapi Town Police Station, Vapi 396191, Gujarat, India |
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Tel. No.: |
91-260-2463104 / 3253343 |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Pramod Vishwanath Bhatkar |
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Designation : |
Director |
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Date of Birth/Age : |
03.07.1968 |
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Date of Appointment : |
09.09.2002 |
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DIN No.: |
00488224 |
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Name : |
Mr. Rajul N Desai |
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Designation : |
Director |
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Date of Birth/Age : |
02.12.1969 |
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Date of Appointment : |
09.09.2002 |
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DIN No.: |
00489865 |
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Name : |
Mr. Jimmy Kunjappan Tharayil |
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Designation : |
Director |
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Date of Birth/Age : |
07.08.1966 |
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Date of Appointment : |
09.09.2002 |
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DIN No.: |
00531435 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Pramod Vishwanath Bhatkar |
6000 |
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Mr. Rajul N Desai |
6000 |
|
Mr. Jimmy Kunjappan Tharayil |
3000 |
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Total
|
15000 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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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 : |
Dealer and Distributor of Computer Parts and Providing Networking
Solution. |
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Agencies Held : |
HP, Sony |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Corporate |
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No. of Employees : |
22 Approximately |
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Bankers : |
Bank of India, Mumbai Central Branch, Shakti Sadan, C block, Dr.
Dadasaheb Bhadkamkar Marg, Mumbai 400007, Maharashtra, India |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Shroff and Associates Chartered Accountant |
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Address : |
A - 201, Winsway Complex, Old Police Lane, Andheri (West), Mumbai 400069, Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs. 10 each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
15000 |
Equity Shares |
Rs. 10 each |
Rs.0.150 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.150 |
0.150 |
0.150 |
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2] Share Application Money |
0.250 |
0.250 |
0.250 |
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3] Reserves & Surplus |
1.191 |
0.789 |
0.678 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.591 |
1.189 |
1.078 |
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LOAN FUNDS |
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1] Secured Loans |
0.651 |
0.298 |
0.308 |
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2] Unsecured Loans |
0.199 |
0.199 |
0.199 |
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TOTAL BORROWING |
0.850 |
0.497 |
0.507 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.441 |
1.686 |
1.585 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.176 |
0.120 |
0.150 |
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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 |
0.047 |
0.002 |
0.146 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.711
|
0.507 |
0.698 |
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Sundry Debtors |
2.861
|
2.967 |
1.886 |
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Cash & Bank Balances |
0.565
|
0.467 |
0.605 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.989
|
0.744 |
0.871 |
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Total
Current Assets |
5.126
|
4.685 |
4.060 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.489
|
2.122 |
1.437 |
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Other Current Liabilities |
1.073
|
0.831 |
0.940 |
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Provisions |
0.356
|
0.178 |
0.405 |
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Total
Current Liabilities |
2.918
|
3.131 |
2.782 |
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Net Current Assets |
2.208
|
1.554 |
1.278 |
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MISCELLANEOUS EXPENSES |
0.010 |
0.0010 |
0.011 |
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TOTAL |
2.441 |
1.686 |
1.585 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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TURNOVER |
33.972 |
32.030 |
33.561 |
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EXPENSES |
33.468 |
32.216 |
32.966 |
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PROFIT BEFORE
TAX |
0.610 |
0.516 |
0.250 |
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Less |
TAX |
0.209 |
0.406 |
0.190 |
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PROFIT AFTER TAX
|
0.401 |
0.110 |
0.060 |
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Earnings Per
Share (Rs.) |
2.68 |
0.74 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.79
|
1.61 |
0.74 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.50
|
10.73 |
5.93 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.43 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.36
|
3.05 |
3.05 |
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Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.49 |
1.45 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS
Rs. In Millions
|
Particulars |
31.03.2011
|
31.03.2010
|
31.03.2009 |
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Sundry Creditors |
1.489
|
2.122 |
1.437 |
FINANCIAL RESULTS:
The Company has earned Net Profit After Tax
of Rs. 4,01,813/-for the year ended March 31, 2011 as against Net Profit After
Tax of Rs. 1,10,713/- for the corresponding previous year.
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and Fixture
·
Motor Cycle
FORM 8
|
Corporate identity
number of the company |
U72200MH2002PTC137118 |
|
Name of the
company |
ULTIMATE COMPUTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
26-2 Navjeevan Society Building No. 3, 9th Floor, Lamington
Road, Mumbai 400008, Maharashtra, India
|
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of charge
holder |
Bank of India, Mumbai Central Branch, Shakti Sadan, C block, Dr.
Dadasaheb Bhadkamkar Marg, Mumbai 400007, Maharashtra, India Email: vlaxman@vsnl.com |
|
Nature of
instrument creating charge |
Hypothecation Cum
Loan Agreement (Plant and Machinery, Stocks and Book Debts). |
|
Date of
instrument Creating the charge |
15.06.2011 |
|
Amount secured by
the charge |
Rs. 0.950 million
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest at the
rate of 3.75% above Base Rate i.e. 13.75% p.a. with monthly rests. Terms of repayment On Demand. Margin 40% against
book-debts outstanding upto 3 months. Extent and operation of the charge Hypothecation by
way of First Charge on Company's Machinery, Stocks and Book Debts etc. to secure as a Continuing Security for
repayment of Rs.0.950 million, by the Company
to the Bank with interest/commission, charges, costs and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
i)
All tangible movable machineries and plants (both Present and future) whether
installed or not and whether lying loose or at site or in transit or acquired
squbsequently, ashort particulars of which are disclosed in Part-A of
Schedule – II hereunder written or which may at any time during the
continuance of this security being installed or lying loose or in cases or
being in or upon or about the Borrower’s premises/godowns at Noormahal, R.
No.12, 1st
Floor, Sir Ratan Tata Marg, Tardeo, Mumbai or wherever else the
same may be or be held by any party anywhere to the order and disposition of
the Borrower or in the course of transit to the Borrower. ii) All tangible movable properties and
assets and stocks, whatsoever nature of the Borrower (both present and
future) and including but without prejudice to the generality of the
foregoing all stocks of raw materials, Finished goods and Semi Finished
goods, spare parts, components (including spare parts and stores relating to
plant and machinery both present and future) and stocks in process of the
Borrower wheresoever situate at Noormahal, R. No.12, 1st Floor,
Sir Ratan Tata Marg, Tardeo, Mumbai and/or in transit now belonging to or
that may at any time during the continuance of its security belong to the
Borrower or that may be held by any party to the Order and disposition of
Borrower; and iii) All the present and future
book-debts, outstanding, money receivables, claims, bills which are now due
and owing or which may at any time hereafter during the continuance of this
security become due and owing or to the Borrower in the course of his
business by any person, firm, company or body corporate or by the Central
Government or any State Government or any Government Department or office or
any municipal or local or public or semi-governmental body or authority or
any body corporate or undertaking or project whatsoever. |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs.0.500 million to Rs.0.950 million, in favour of
the bank. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
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 |
-- |
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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 |
-- |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
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, if available |
-- |
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 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.53.36 |
|
|
1 |
Rs.82.51 |
|
Euro |
1 |
Rs.68.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
4 |
|
--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 |
NO |
|
--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.