MIRA
INFORM REPORT
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Report Date : |
31.12.2011 |
IDENTIFICATION DETAILS
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Name : |
NAHAR INTEGRATED SYSTEM SERVICES PRIVATE LIMITED |
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Registered Office : |
Flat No. 401, Swojas Paradise, Baner Residency, Plot No. 13, S. No.
80/2, Aundh, Pune-411007, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
12.01.2005 |
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Com. Reg. No.: |
25-020148 |
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Capital
Investment / Paid-up Capital : |
Rs.0.950 Million |
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CIN No.: [Company
Identification No.] |
U72200PN2005PTC020148 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEN05011G |
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PAN No.: [Permanent
Account No.] |
AACCN0478J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer and Distributor of Computer Peripherals and Accessories. |
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No. of Employees
: |
35 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 62000 |
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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.
INFORMATION PARTED BY
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Name : |
Ms. Anjali |
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Designation : |
Accountant |
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Contact No.: |
91-20-24491906 |
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Date : |
30.12.2011 |
LOCATIONS
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Registered Office : |
Flat No. 401, Swojas Paradise, Baner Residency, Plot No. 13, S. No.
80/2, Aundh, Pune-411007, |
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E-Mail : |
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Website : |
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Area: |
Owned |
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Corporate Office : |
687, Sadashiv Peth, Shriram Apartments, |
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Tel. No.: |
91-20-24495311/ 24491906/ 24463874 |
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Fax No.: |
91-20-24491906/ 24463874/ 24495311 |
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Area : |
1500 sq. ft (Owned) |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Shital Vijay Nahar |
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Designation : |
Director |
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Address : |
C-102, Ashit Apartment, Shivajinagar, Model Colony, Pune-411016, |
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Date of Birth/Age : |
15.06.1971 |
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Qualification : |
B.E |
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Date of Appointment : |
12.01.2005 |
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DIN : |
01782566 |
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Name : |
Mrs. Vaishali Shital Nahar |
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Designation : |
Director |
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Address : |
Flat No. 401, Swojas Paradise, Plot No. 13, S. No. 80/2, Near Sakal
Nagar, Aundh, Pune-411007, |
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Date of Birth/Age : |
03.10.1972 |
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Qualification : |
Doctor |
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Date of Appointment : |
12.01.2005 |
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DIN : |
01900768 |
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KEY EXECUTIVES
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Name : |
Ms. Anjali |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Shital Vijay Nahar |
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71250 |
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Vaishali Shital Nahar |
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23750 |
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Total |
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95000 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Computer Peripherals and Accessories. |
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Services : |
PC Services • PC Computer (x86 based
architecture) Operating
Systems • Windows® 95, 98, NT, 2000,
2003, XP Network Services
• Network Optimizations Miscellaneous
Services • Data Recovery |
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Agencies Held : |
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Terms : |
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Selling : |
Cash / Credit (30 days) |
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Purchasing : |
Cash / Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users, OEM’s and Corporate Companies
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No. of Employees : |
35 [Approximately] |
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Bankers : |
·
ABN Amro Bank, Camp, Pune, ·
The Cosmos Co-Operative Bank Limited, 269/270, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bal Bathia and Company Chartered Accountants |
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Address : |
103, Shree Laxmi Villa, 1170/32, Shivaji Nagar, Revenue Colony,
Pune-411005, |
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PAN : |
AAFFB1463k |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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95,000 |
Equity Shares |
Rs.10/- each |
Rs.0.950 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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95,000 |
Equity Shares [Fully Called up and Paid up] |
Rs.10/- each |
Rs.0.950 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.950 |
0.950 |
0.950 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.707 |
10.930 |
7.719 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.657 |
11.880 |
8.669 |
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LOAN FUNDS |
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1] Secured Loans |
0.019 |
0.748 |
1.849 |
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2] Unsecured Loans |
1.102 |
1.378 |
0.217 |
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TOTAL BORROWING |
1.121 |
2.126 |
2.066 |
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DEFERRED TAX LIABILITIES |
0.355 |
0.366 |
0.364 |
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TOTAL |
17.133 |
14.372 |
11.099 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.242 |
2.559 |
3.297 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.797 |
1.666 |
1.524 |
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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 |
0.445
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1.103
|
0.579 |
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Sundry Debtors |
13.771
|
12.690
|
14.226 |
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Cash & Bank Balances |
7.770
|
0.850
|
0.333 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
2.557
|
2.632
|
1.583 |
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Total
Current Assets |
24.543
|
17.275
|
16.721 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
8.758
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5.203
|
7.880 |
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Other Current Liabilities |
0.000
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0.000
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0.000 |
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Provisions |
2.691
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1.925
|
2.568 |
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Total
Current Liabilities |
11.449
|
7.128
|
10.448 |
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Net Current Assets |
13.094
|
10.147
|
6.273 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
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TOTAL |
17.133 |
14.372 |
11.099 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
96.288 |
60.100 |
79.200 |
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Other Income |
4.657 |
NA |
6.214 |
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TOTAL |
94.801 |
NA |
85.414 |
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EXPENSES |
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Administrative Expenses |
0.447 |
NA |
81.007 |
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Advertising Expenses |
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TOTAL |
0.447 |
NA |
81.007 |
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PROFIT BEFORE
TAX |
5.486 |
4.600 |
4.407 |
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TAX |
1.710 |
NA |
1.413 |
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PROFIT AFTER TAX
|
3.776 |
NA |
2.994 |
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EARNINGS IN
FOREIGN CURRENCY |
0.000 |
1.174 |
NA |
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Earnings Per
Share (Rs.) |
39.75 |
NA |
31.51 |
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Expected Sales (2011-2012) : Rs.120.000 Millions
The above information has been parted by Mr. Anjali [Accountant].
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
3.98
|
NA
|
3.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.70
|
7.65
|
5.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
20.48
|
23.19
|
22.02 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.39
|
0.51 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
0.78
|
1.44 |
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Current Ratio (Current Asset/Current Liability) |
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2.14
|
2.42
|
1.60 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
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Sundry Creditors |
8.758
|
5.203
|
7.880 |
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Check List by Info Agents |
Available in Report [Yes/No] |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Construction of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoters background |
- |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of contact
person |
Yes |
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Turnover of firm for last
three years |
Yes |
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Profitability for last
three years |
No |
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Reasons for variation
<> 20% |
- |
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Estimation for coming
financial year |
Yes |
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Capital the business |
No |
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Details of sister
concerns |
No |
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Major Suppliers |
No |
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Major Customers |
No |
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Payment Terms |
Yes |
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Export / Import Details
[If Applicable] |
No |
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Market Information |
- |
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Litigations that the firm
/ promoter involved in |
- |
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Banking Details |
Yes |
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Banking Facility Details |
No |
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Conduct of the banking
account |
- |
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Buyer visit details |
- |
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Financials, if provided |
No |
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Incorporation details, if
applicable |
- |
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Last accounts filed at
ROC |
- |
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Major Shareholders, if
applicable |
- |
Operations and
Future Prospects :
During the period ended company secured business of Rs.96.200 millions
as compared to previous year’s turnover of Rs.60.100 millions. They hope that next
year their company will get better business.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U72200PN2005PTC020148 |
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Name of the
company |
NAHAR INTEGRATED SYSTEM
SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No. 401, Swojas Paradise Baner Residency, Plot No. 13, S. No.
80/2, Aundh, Pune-411007, |
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Type of charge |
Movable Property
(not being pledge) |
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Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, |
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Email |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation of stock, book debts and machinery dated 24th September 2008 |
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Date of
instrument Creating the charge |
24.09.2008 |
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Amount secured by
the charge |
Rs.1.440 millions
|
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest: 13.5%
p.a. Presently applicable Terms of
Repayment Repayment Period:
36 Months Margin Margin: 40% In
Bank's Favour Extent and
Operation of the charge The charge will
continue to operate till full repayment of the facility enjoyed by the
company Others Term loan: Rs.
1.440 millions |
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Short particulars
of the property charged |
Computers and
peripherals owned by the company and situated at |
Fixed Assets:
·
Air Conditioner
·
Air Cooler
·
Office Equipment
·
Car
·
Computer
·
Epabx System
·
Fax Machine
·
Furniture and Fixtures
·
Handset- Mobile
·
Kinetic – Marvel
·
TVS Scooty
·
UPS Inverter
Trade References:
- Emptoris Technologies Limited
- Pricol Limited
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.53.26 |
|
|
1 |
Rs.82.09 |
|
Euro |
1 |
Rs.68.90 |
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 |
4 |
|
--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 |
|
44 |
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.