MIRA
INFORM REPORT
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Report Date : |
03.01.2011 |
IDENTIFICATION DETAILS
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Name : |
GVK DAVIX TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known
As : |
INOGENT TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
Plot No. 28A, IDA Nacharam, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.02.2005 |
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Com. Reg. No.: |
01-045481 |
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CIN No.: [Company Identification
No.] |
U72200AP2005PTC045481 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDG02755E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Contract Research Discovery of Pharma Biotech. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
No business activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a GVK Group company. Though the company was incorporated in
2005, it is yet to commence its commercial business activities, as reported
by Mr. Saujina from the account department. Payment terms are not known. The company can be considered for business dealings on a secured terms
and conditions, initially. |
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) |
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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. Saujina |
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Designation : |
Accounts Department |
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Date : |
31.12.2010 |
LOCATIONS
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Registered Office : |
Plot No. 28A, IDA Nacharam, |
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E-Mail : |
DIRECTORS
As on 01.06.2010
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Name : |
Mr. Krishna Reddy Venkata Gunapati |
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Designation : |
Chairman |
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Address : |
H. No. 6-3-250/A/1, Road No. 1, Banjara Hills, |
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Date of Birth/Age : |
22.03.1937 |
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Date of Appointment : |
25.02.2005 |
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Name : |
Mr. Davinder Singh Brar |
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Designation : |
Director |
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Address : |
Greenfields Farm, Gadaipur – Jaunapur Road, Village Jaunapur, Tehsil –
Mehrauli, New Delhi – 110030, Delhi, India |
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Date of Birth/Age : |
21.08.1952 |
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Date of Appointment : |
25.02.2005 |
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Name : |
Mr. Sanjay Reddy Venkata Gunapati |
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Designation : |
Director |
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Address : |
H. No. 6-3-250/A/1, Road No. 1, Banjara Hills, |
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Date of Birth/Age : |
18.11.1964 |
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Date of Appointment : |
25.02.2005 |
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Name : |
Ms. Indira Krishna Reddy Gunapati |
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Designation : |
Director |
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Address : |
H. No. 6-3-250/A/1, Road No. 1, Banjara Hills, |
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Date of Birth/Age : |
17.10.1944 |
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Date of Appointment : |
30.09.2005 |
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Name : |
Mr. Krishna Ram Bhupal |
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Designation : |
Director |
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Address : |
H. No. 6-3-250/A/1, Road No. 1, Banjara Hills, |
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Date of Birth/Age : |
16.03.1983 |
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Date of Appointment : |
17.09.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.06.2010
|
Names of Shareholders |
|
No. of Shares |
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Mr. Sanjay Reddy Venkata Gunapati |
|
3172500 |
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Mr. Davinder Singh Brar |
|
5291730 |
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Madubani Investments Private Limited ( |
|
5283270 |
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Mr. Krishna Reddy Venkata Gunapati |
|
1321875 |
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Ms. Indira Krishna Reddy Gunapati |
|
1321875 |
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Ms. G. Aparna Reddy |
|
2115000 |
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Mrs. Shalini Bhupal |
|
1321875 |
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Ms. Shriya Bhupal |
|
660937 |
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Mr. Krishna Ram Bhupal |
|
660938 |
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Total |
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21150000 |
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Category |
Percentage |
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Bodies corporate |
24.98 |
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Directors or relatives of Directors |
75.02 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Contract Research Discovery of Pharma Biotech. |
GENERAL INFORMATION
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No. of Employees : |
Information denied |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Koteswara Rao SSR Chartered Accountant |
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Address : |
#403, 404, Golden Green Apartments, Irrum Manzil Colony, |
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Associates/Subsidiaries : |
CIN No. :
U74999AP2000PTC035826
CIN No. : U24239AP2005PTC046402
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CAPITAL STRUCTURE
As on 01.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
25000000 |
Equity Shares |
Rs.10/- Each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
21150000 |
Equity Shares |
Rs.10/- Each |
Rs.211.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
211.500 |
150.000 |
125.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
18.450 |
10.980 |
2.901 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
229.950 |
160.980 |
127.901 |
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|
LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
229.950 |
160.980 |
127.901 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
229.000 |
158.500 |
117.700 |
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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 |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.774
|
1.919 |
9.322 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.097
|
0.097 |
0.098 |
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Total
Current Assets |
0.871
|
2.016 |
9.420 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.474
|
0.366 |
0.326 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
0.474
|
0.366 |
0.326 |
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Net Current Assets |
0.397
|
1.650 |
9.094 |
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MISCELLANEOUS EXPENSES |
0.553 |
0.830 |
1.107 |
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TOTAL |
229.950 |
160.980 |
127.901 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Dividend Received |
|
8.475 |
8.475 |
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Interest Earned |
|
0.000 |
0.124 |
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Other Income |
|
0.010 |
0.000 |
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TOTAL (A) |
|
8.485 |
8.599 |
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Less |
EXPENSES |
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Director’s Sitting Fees |
|
0.070 |
0.080 |
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Bank Charges |
|
0.001 |
0.045 |
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Audit Fees – for Statutory Audit |
|
0.200 |
0.100 |
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Preliminary Expenses Written Off |
|
0.277 |
0.277 |
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Miscellaneous Expenses |
|
0.000 |
0.016 |
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Filing fee |
|
0.354 |
0.000 |
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Consultancy charges |
|
0.112 |
0.002 |
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TOTAL (B) |
|
1.014 |
0.520 |
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NET PROFIT (A-B) (C) |
|
7.471 |
8.079 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
10.980 |
2.901 |
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BALANCE CARRIED
TO THE B/S |
|
18.451 |
10.980 |
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Earnings Per
Share (Rs.) |
|
0.43 |
0.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
88.05
|
93.95 |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
88.05
|
93.95 |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
857.75
|
400.74 |
- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.00 |
0.00 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
5.51 |
28.89 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE :-
Income was Rs.8.485 Millions mainly being the
dividend received from GVK Biosciences Private Limited. Profit after Tax was
Rs.7.471 Millions.
CHANGE OF ADDRESS :-
Registered office of the company has been
shifted from 210 My Home Tycoon, 6-3-1192, bagh Begumpet, Hyderabad - 500016, Andhra
Pradesh, India to the present address w.e.f. 04.11.2009
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.44.81 |
|
|
1 |
Rs.69.28 |
|
Euro |
1 |
Rs.59.81 |
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.