MIRA
INFORM REPORT
|
Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
PC TECHNOWLEDGE CENTRE PRIVATE LIMITED |
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Formerly Known
As : |
PEREIRA AND CASTELLINO SURVEYORS AND ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
1-3/5, Kshatriya Niwas Chambers, Building No. 5E, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.10.1980 |
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Com. Reg. No.: |
11–23244 |
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Capital
Investment / Paid-up Capital : |
Rs.2.895 Millions |
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CIN No.: [Company Identification
No.] |
U67200MH1980PTC023244 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP10776D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Software Development and
Software License Marketing. |
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No. of Employees
: |
Not Divulged by Management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 29000 |
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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 a well established company having satisfactory track.
Directors are reported to be experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered good for normal business dealings at
usual trade terms and conditions. The profit and loss account of the company for the year 2010 is not
available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Finance Manager |
|
Date : |
26.07.2011 |
LOCATIONS
|
Registered / Head Office : |
1-3/5, Kshatriya Niwas Chambers, Building No. 5E, |
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Tel. No.: |
91-22-24441616/ 24443636/ 24444040 |
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Fax No.: |
91-22-24451860 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Ganesh Madhav Kamat |
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Designation : |
Director |
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Address : |
F-12, Saraswat Colony, |
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Date of Birth/Age : |
01.10.1955 |
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Date of Appointment : |
08.10.1980 |
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DIN : |
01283253 |
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Name : |
Mr. Shubha Ganesh Kamat |
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Designation : |
Director |
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Address : |
F-12, Saraswat Colony, |
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Date of Birth/Age : |
07.06.1959 |
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Date of Appointment : |
28.03.2001 |
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DIN : |
01224164 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ganesh Madhav Kamat |
|
11830 |
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Shubha Ganesh Kamat |
|
15120 |
|
Niranjan Ganesh Kamat |
|
1000 |
|
Mruddula Ganesh Kamat |
|
1000 |
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Total |
|
28950 |
As on 25.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Software Development and
Software Licence Marketing. |
GENERAL INFORMATION
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Customers : |
Corporate, Government Sector
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No. of Employees
: |
Not Divulged by Management |
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Bankers : |
v
Bank of Maharashtra, 1st Floor,
Janmangal 45/47, Mumbai Samachar Marg, Fort, Mumbai – 400 023, v
ICICI Bank Limited v
Citi Bank v
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N.G. Mathkar and Associates Chartered Accountants |
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Address : |
B-41, Indrayani Complex, J.K. Sawant Marg, Dadar, Mumbai – 400 028, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28,950 |
Equity Shares |
Rs.100/- each |
Rs.2.895 Millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.895 |
2.895 |
2.895 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
4.560 |
3.950 |
3.194 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.455 |
6.845 |
6.089 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
4.360 |
4.702 |
2.466 |
|
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2] Unsecured Loans |
0.000 |
0.209 |
0.024 |
|
|
TOTAL BORROWING |
4.360 |
4.911 |
2.490 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.815 |
11.756 |
8.579 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.165 |
3.571 |
4.039 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.300 |
0.300 |
0.346 |
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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 |
2.006
|
0.651
|
0.776
|
|
|
Sundry Debtors |
14.477
|
14.338
|
39.666
|
|
|
Cash & Bank Balances |
2.316
|
1.396
|
3.192
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
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|
Loans & Advances |
3.602
|
3.878
|
2.837 |
|
Total
Current Assets |
22.401
|
20.263 |
46.471 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
11.963
|
9.360
|
|
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Other Current Liabilities |
1.468
|
2.041 |
40.394 |
|
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Provisions |
0.620
|
0.977
|
1.883 |
|
Total
Current Liabilities |
14.051
|
12.378
|
42.277 |
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Net Current Assets |
8.350
|
7.885
|
4.194
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.815 |
11.756 |
8.579 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
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SALES |
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|
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Income |
|
95.083 |
129.750 |
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Other Income |
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TOTAL (A) |
|
95.083 |
129.750 |
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Less |
EXPENSES |
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Cost of Goods Sold |
|
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Payment to Employees |
|
93.961 |
127.965 |
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Other Expenditure |
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TOTAL |
|
93.961 |
127.965 |
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PROFIT BEFORE
TAX |
|
1.122 |
1.785 |
|
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Less |
TAX |
|
0.357 |
0.557 |
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PROFIT AFTER TAX
|
|
0.765 |
1.228 |
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Earnings Per
Share (Rs.) |
|
26.42 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
0.80 |
0.95 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
4.71 |
3.53 |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.16 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.47
|
2.52 |
7.35 |
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.64 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details
Rs
in Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
Aarvee Computer |
0.001 |
0.000 |
|
|
Avnet India Private Limited |
4.997 |
5.214 |
|
|
Computer Depot |
0.002 |
0.000 |
|
|
Dataforce |
0.160 |
0.040 |
|
|
Datasoft Network Solution
Private Limited |
0.001 |
0.000 |
|
|
Fair Deal Consultants |
0.004 |
0.000 |
|
|
G M and S G Kamat A/c |
0.792 |
0.673 |
|
|
Mark IT Solutions Private
Limited |
0.014 |
0.000 |
|
|
MLogica Computech India
Private Limited |
0.000 |
0.000 |
|
|
Rajendra Computec |
0.003 |
0.000 |
|
|
Redington India Limited |
4.948 |
2.562 |
|
|
Sam Infosolutions |
0.037 |
0.000 |
NA |
|
Sam Infotech |
0.001 |
0.000 |
|
|
Sonata Information Technology
Limited |
0.901 |
0.585 |
|
|
|
0.019 |
0.019 |
|
|
UBM India Private Limited |
0.083 |
0.000 |
|
|
Aspos |
0.000 |
0.010 |
|
|
Genesis Infoserve Private Limited |
0.000 |
0.029 |
|
|
Ingram Micro India Private Limited |
0.000 |
0.135 |
|
|
Super Softwares |
0.000 |
0.001 |
|
|
Mahindra Shubhlabh Services
Limited |
0.000 |
0.004 |
|
|
Pace Business Machines
Private Limited |
0.000 |
0.022 |
|
|
Sybase Software [ |
0.000 |
0.066 |
|
|
Total |
11.963 |
9.360 |
NA |
FORM 8
|
Name of the company |
PC TECH KNOWLEDGE
CENTRE PRIVATE LIMITED |
|
Presented By |
Bank of
Maharashtra, |
|
1) Date and description of instrument creating the change |
FOBN/FOBP B.P. /
B.D. Agreement of dated 01.06.1996 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.750 Million |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
In consideration
of the Bank agreeing to collect/purchase/discount/negotiate cheques, bills, hundies,
drafts and other instruments with or without securities, or other documents
of title to goods including railway receipts, bills of lading, motor
transport receipt airway bills composite receipts, etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest:
18.25% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of
Maharashtra, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90371689 |
|
Corporate
identity number of the company |
U67200MH1980PTC023244 |
|
Name of the
company |
PC TECHNOWLEDGE
CENTRE PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1-3/5, Kshatriya Niwas Chambers, Building No. 5E, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Bank of
Maharashtra, 1st Floor, Janmangal 45/47, Mumbai Samachar Marg,
Fort, Mumbai – 400 023, E-Mail: bom2@mahabank.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Composite deed of
hypothecation for all facilities |
|
Date of
instrument Creating the charge |
10.10.2008 |
|
Amount secured by
the charge |
Rs.5.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest – PLR +
2% (@ 15.25% p.a.) Terms of
Repayment The Borrower
shall on demand pay the whole amount due to the bank with interest and cost Margin Margin – 25% Extent and
Operation of the charge Security to cover
principal amount together with interest, costs, charges, and expenses etc Others Cash Credit –
Rs.5.000 Millions |
|
Short particulars
of the property charged |
First and
exclusive charge and security by way of hypothecation of present and future
stocks and book debts |
|
Date of latest
modification prior to the present modification |
17.07.2002 |
|
Particular of the
present modification |
Charge enhanced
from Rs.4.000 millions to Rs.5.000 millions |
FIXED ASSETS:
- Furniture and
Fixtures
- Plant and
Machinery
- Computer
Systems
- Electronic
Faxing System
- Printers for
computers
- Motor Car
- Office
Premises
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.43.94 |
|
|
1 |
Rs.72.12 |
|
Euro |
1 |
Rs.63.66 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
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 |
|
48 |
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.