MIRA
INFORM REPORT
|
Report Date : |
07.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
DIFACTO ROBOTICS AND AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2/B, 23rd |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2008 |
|
|
|
|
Date of
Incorporation : |
23.01.2007 |
|
|
|
|
Com. Reg. No.: |
041555 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210KA2007PTC041555 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of Industrial Robot Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
-- |
|
|
|
|
Status : |
Poor Corporate Governance |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The management has not filed the financials of the company with the
government departments after 2008, thus indicating a poor governance. The director
Mr. Ajay denied to provide any information. As per the available 2008
financials there appears huge accumulated losses recorded by the company.
Payment terms are not known. The company can be considered 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Ajay |
|
Designation : |
Director |
|
Date : |
07.01.2011 |
LOCATIONS
|
Registered Office : |
2/B, 23rd |
|
Tel. No.: |
91-80-42120041/26592040 |
|
Fax No.: |
91-80-26592041 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.09.2008
|
Name : |
Mr. Ajay Mysore Gopalaswamy |
|
Designation : |
Director |
|
Address : |
402B, Amarjyoti Apartment, Vedyur, Jayangar, 6th Block, |
|
Date of Appointment : |
23.01.2007 |
|
|
|
|
Name : |
Mr. Shakuntal Mrg Rao |
|
Designation : |
Director |
|
Address : |
402B, Amarjyoti Apartment, Vedyur, Jayangar, 6th Block, |
|
Date of Appointment : |
23.01.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Mysore Gopalaswamy |
|
9999 |
|
Shakuntal Mrg Rao |
|
1 |
|
Total |
|
10000 |
AS ON 25.09.2008
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Industrial Robot Services. |
GENERAL INFORMATION
|
Bankers : |
State Bank of India, SME City Credit Centre, Seshadripuram, Badaganadu
Sangha Building, Kumara Park, Bangalore – 560020, Karnataka, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Aditya and Vishwas Chartered Accountant |
|
Address : |
#38, 8th Cross, 8th Main, 2nd Block, |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300 Million |
|
20000 |
Redeemable Optionally Convertible series a Preferences Shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
Share Application Money |
|
Rs.1.341
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.441 |
1.441 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(1.403) |
(0.115) |
|
|
NETWORTH |
|
0.038 |
1.326 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1.849 |
0.000 |
|
|
2] Unsecured Loans |
|
2.312 |
0.026 |
|
|
TOTAL BORROWING |
|
4.161 |
0.026 |
|
|
DEFERRED TAX LIABILITIES |
|
0.038 |
0.071 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.237 |
1.423 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.000 |
1.042 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
1.221 |
0.267 |
|
|
Cash & Bank Balances |
|
0.023 |
0.441 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.595 |
0.001 |
|
Total
Current Assets |
|
1.839 |
0.709 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.445 |
0.372 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.190 |
0.000 |
|
Total
Current Liabilities |
|
0.635 |
0.372 |
|
|
Net Current Assets |
|
1.204 |
0.337 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.033 |
0.044 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.237 |
1.423 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Software Development / Services |
|
5.532 |
0.285 |
|
|
|
Expenses Reimbursed |
|
0.647 |
0.000 |
|
|
|
Other Income |
|
0.027 |
0.000 |
|
|
|
TOTAL (A) |
|
6.206 |
0.285 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases Consumables |
|
0.071 |
0.000 |
|
|
|
Employee Remuneration and Benefits |
|
3.948 |
0.023 |
|
|
|
Operating and Other Expenses |
|
2.197 |
0.286 |
|
|
|
Preliminary Expenses W/off |
|
0.011 |
0.011 |
|
|
|
TOTAL (B) |
|
6.227 |
0.320 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.021) |
(0.035) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.178 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(0.199) |
(0.035) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.083 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(1.282) |
(0.040) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
0.007 |
0.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
(1.289) |
(0.115) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.115) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(1.404) |
(0.115) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(128.89) |
(11.50) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
|
(20.77) |
(40.35) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(23.17) |
(14.03) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(26.49) |
(2.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(33.74) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
126.21 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.89 |
1.90 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has been shifted from 402B,
Amarjyoti Apartment, Vedyur, Jayangar, 6th Block,
FORM 8:
|
Corporate identity
number of the company |
U74210KA2007PTC041555 |
|
Name of the
company |
DIFACTO ROBOTICS
AND AUTOMATION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2/B, 23rd |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
STATE BANK OF |
|
Nature of instrument
creating charge |
Supplemental
Agreement Of Loan Cum Hypothecation Form Sme - 4 |
|
Date of
instrument Creating the charge |
09/12/2010 |
|
Amount secured by
the charge |
Rs.4.200 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 1) WCL- AT 6.00%
above br, effective rate 13.60% p.a. at monthly rests. 2) TL- at 6.00%
above br, effective rate 13.60% p.a. at monthly rests. penal int : max
2% p.a. over the normal rate. Terms of
Repayment Wcl - on Demand.
Advance Is For a Period of 12 Months. Term Loan 1
Existing : As Per Existing Terms of Sanction. Term Loan 2 : In
28 Monthly Installments of Rs.0.055 Million Term Loan 3 : In 6
Monthly Installments of Rs.0.060 Million Margin RM/SFG/FG/CCS/RECEIVABLES
- 25% Extent and
Operation of the charge Exclusive First
Charge on The Assets Of The Company And To The Full Extent. Others Cash Credit
Rs.1.000 Million; Tl-1 Rs.1.300 Millions; Tl-2 Rs.1.600 Millions; Tl-3
Rs.0.300 Million; Total Rs.4.200
Millions. |
|
Short particulars
of the property charged |
Hypo. of
company's present and future movable fixed assets and current assets like stocks,
raw materials, semi finished and finished goods, book debts, receivables,
outstanding monies, bills, rights, stores, components, furniture and
fittings; other movables, plant and machinery, vehicles and assets to be
purchased out of bank finance |
|
Particulars of
the present modification |
The amount
secured by the charge stands increased to Rs.4.200 Millions. The securities
described and detailed in col no 15 herein above continue for the enhanced
limit. All other terms and conditions remain unchanged. |
FIXED ASSETS:
- Computer Hardware
- Computer Software
- Furniture
- Office Equipment
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.45.31 |
|
|
1 |
Rs.70.26 |
|
Euro |
1 |
Rs.59.56 |
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.