MIRA
INFORM REPORT
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Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
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Name : |
HYPER-TECH INFOSOLUTION PRIVATE LIMITED |
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Registered
Office : |
2428, Building No. 65, Ground Floor, Gandhi Nagar, Bandra (East),
Mumbai – 400051, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
17.09.1999 |
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Com. Reg. No.: |
11-121794 |
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CIN No.: [Company Identification
No.] |
U51909MH1999PTC121794 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Company is in the business of purchasing and selling of tele communication
equipments and computer hardware and software packages. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 41000 |
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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 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.
ECGC Country Risk Classification List – April 1, 2010
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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 |
LOCATIONS
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Registered Office : |
2428, Building No. 65, Ground Floor, Gandhi Nagar, Bandra (East),
Mumbai – 400051, |
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Tel. No.: |
91-22-26515722 |
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Fax No.: |
91-22-26515744 |
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E-Mail : |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Ajay Arivin Dharap |
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Designation : |
Director |
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Address : |
J - 13 / 11, Jal Mandir Chs. Bangur Nagar, Goregaon (West), Mumbai – 400 090, |
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Date of Appointment : |
01.10.1999 |
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DIN No. : |
00220746 |
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Name : |
Mr. Kumareshan Renu Naidu |
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Designation : |
Director |
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Address : |
Plot No. 219, C-16, Shursti Chs. Gorai – II, Borivali (West), Mumbai –
400092, |
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Date of Appointment : |
01.12.1999 |
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DIN No. : |
01848064 |
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Name : |
Mr. Ajay Nana Walanju |
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Designation : |
Director |
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Address : |
32/1735, Kher Nagar, Sahjeevan Chs. M.H.B. Colony, Bandra (East),
Mumbai – 400051, |
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Date of Birth/Age : |
20.03.1967 |
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Date of Appointment : |
01.04.2001 |
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Date of Cessation : |
15.09.2010 |
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DIN No. : |
00210390 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Kumareshan R. Naidu |
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260 |
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Ajay A. Dharap |
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810 |
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Total |
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1070 |
As On 30.09.2010
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Category |
Percentage |
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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 : |
Company is in the business of purchasing and selling of tele
communication equipments and computer hardware and software packages. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vipin Ladda Chartered Accountant |
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Address : |
D-701, Shubh Sarita, Appa Saheb Siddhye Marg, Borivali (East), Mumbai
– 400066, |
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Tel. No.: |
91-22-32199275 |
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Pan No.: |
ABEPL3198B |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- 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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1070 |
Equity Shares |
Rs. 100/- each |
Rs. 0.107
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.107 |
0.107 |
0.107 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.379 |
4.015 |
3.798 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.486 |
4.122 |
3.905 |
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LOAN FUNDS |
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1] Secured Loans |
250.050 |
0.000 |
0.000 |
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2] Unsecured Loans |
1159.319 |
0.000 |
0.000 |
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TOTAL BORROWING |
1409.369 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.001 |
0.000 |
0.003 |
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TOTAL |
1419.856 |
4.122 |
3.908 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.165 |
0.157 |
0.193 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.360 |
0.360 |
0.360 |
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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 |
414.932
|
705.477 |
0.000 |
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Sundry Debtors |
16.003
|
0.000 |
36.585 |
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Cash & Bank Balances |
5.343
|
1.978 |
4.842 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1654.959
|
436.191 |
394.614 |
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Total
Current Assets |
2091.237
|
1143.646 |
436.041 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
186.910
|
672.323 |
170.308 |
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Other Current Liabilities |
479.000
|
462.885 |
260.312 |
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Provisions |
5.996
|
4.833 |
2.066 |
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Total
Current Liabilities |
671.906
|
1140.041 |
432.686 |
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Net Current Assets |
1419.331
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3.605 |
3.355 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1419.856 |
4.123 |
3.908 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
944.986 |
551.219 |
461.939 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
937.459 |
548.238 |
461.058 |
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PROFIT BEFORE
TAX |
7.527 |
2.981 |
0.881 |
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Less |
TAX |
1.163 |
2.765 |
0.284 |
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PROFIT AFTER TAX
|
6.364 |
0.216 |
0.597 |
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Earnings Per
Share (Rs.) |
5947.66 |
NA |
NA |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.67
|
0.04 |
0.13 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.36
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0.26 |
0.20 |
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Return on Investment (ROI) (PBT/Networth) |
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0.72
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0.72 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
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198.48
|
276.57 |
110.80 |
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Current Ratio (Current Asset/Current Liability) |
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3.11
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1.00 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 2344, 2nd
Floor, Building No 49, Gandhi Nagar, Near Mahada To Apna Bazar, Bandra, Mumbai,
Maharashtra, India to the present address we.f 01.04.2008.
Review of
Operations:
The Company's overall performance was satisfactory during the financial
year 2009-10. During the year, the total income from the operations was Rs.
944.986 millions as against Rs. 551.219 millions- during the previous year. The
Company has earned a profit after tax of Rs. 6.364 millions as against profit
of Rs. 0.216 million during the previous year.
Fixed assets:
- Computers
- Office equipments
- Furniture and fixtures
- Motor Car
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.45.09 |
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|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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.