MIRA INFORM REPORT

 

 

Report Date :

23.03.2011

 

IDENTIFICATION DETAILS

 

Name :

COMSCRAFT TECHNOLOGY PRIVATE LIMITED

 

 

Registered Office :

K-5, B, II Floor Kalkaji, New Delhi-110 009, Delhi

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010 (Consolidated)

 

 

Date of Incorporation :

16.06.2001

 

 

Com. Reg. No.:

55-111305

 

 

CIN No.:

[Company Identification No.]

U52334DL2001PTC111305

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELC06315B

 

 

PAN No.:

[Permanent Account No.]

AABCC9753E

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Service provider of Computer Networking

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 4200

 

 

Status :

Small Company

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for small 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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Rakesh

Designation :

Accounts Department

Date :

22.03.2011

LOCATIONS

 

Registered Office :

K-5, B, II Floor Kalkaji, New Delhi-110 009, Delhi, India

Tel No.:

91-11-51629950

Mobile No.:

91-9811017140

E-Mail :

rajesh@comscraft.com

Location :

Rented

 

 

Branches:

E-19, Sector-6, Noida, Uttart Pradesh, India

Tel No.:

91-120-4236140

Area :

950 sq. ft.

Location :

Rented

 

 

DIRECTORS

 

As on 30.09.2010

Name :

Mr. Prashant Sirothi

Designation :

Chairman cum Managing Director

Address :

C-48, Sector-41, Noida, Ghaziabad-201 303, Uttar Pradesh, India

Date of Birth/Age :

22.03.1973

Date of Appointment :

18.06.2001

 

 

Name :

Mr. Rakesh Kandwal

Designation :

Whole time director

Address :

13/3C, Sector 11, Diz Area, Gole market, New Delhi-110 01, Delhi, India

Date of Birth/Age :

22.09.1972

Date of Appointment :

02.06.2003

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2010

Names of Shareholders

 

No. of Shares

Prashant Sirothi

 

5000

Rakesh Kandwal

 

5000

Total

 

10000

 

As on 30.09.2010

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Service provider of Computer Networking

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :
  • Merck
  • National Highways Authority Of India (NHAI)
  • HCL Technologies Noida
  • Bahari Consultancy
  • Sahara India Tv Network
  • Laxmi Narayan Mittal Institute Of Information Technology (LNMIIT) Jaipur
  • Northen Command, Uddhampur, Lukhnow and Chandimandir.
  • Ranbaxy Reserarch Laboratories, Gurgaon.
  • Birla Institute Of Management Technology (Bimtech) Greater Noida.
  • Mtnl Data Centre Delhi
  • Radisson Hotels, Delhi.                                                             
  • Satyam Infoway Limited, Delhi, Ludhina, Jaipur.
  • India Today, Delhi.
  • Gas Authority Of India, Delhi.
  • Mausam Bhawan (Dst), Delhi.
  • State Bank Of India, Delhi, Chandigarh and Punjab Branches
  • Delhi Housing Finance  Corporation Limited, Delhi.
  • Ballarpur Industry Limited, Delhi.
  • New Delhi Municipal Corporation (N Dmc), Delhi
  • Telecom Regulatory Authority Of India. (Trai)
  • IDBI Bank, Chandigarh.
  • Railway Bhawan, Delhi and Up
  • DLF Center, Delhi.
  • I Policy Networks, Nsez Noida
  • National Building Organisation, Delhi.
  • Delhi Metro Railway Corporation, Delhi.
  • ITDC Duty Free Shops All India Shops.
  • Indian Oil Corporaton Limited, Rajkot (Gujarat)
  • Hindustan Motor (Rtv Plant), Indore.
  • NIIT Limited, Delhi
  • Central Bank of India, Delhi, Punjab Rajasthan and U.P Branches
  • Shriram Institute For Industrial Research, Delhi.
  • Hotel Imperial, Delhi.  
  • Good Relations (I) Private Limited, Delhi.
  • Oil And Natural Gas Corporation, Delhi and Dehradun.
  • Lotus Development Corporation, Delhi.
  • Corning India Limited, Delhi.
  • Silicon Graphics, Delhi.
  • National Bureau of Fish Genetic Resources, Lucknow
  • Modi Suger Mills, Modinagar.
  • Bridgestone Tyres, Indore.
  • Sardana Telecommunication Limited, Delhi

 

End Users, OEM’s, Corporate

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Corporation Bank, B-1, Sector-26, Noida- 201 301, Uttar Pradesh, India

 

 

Facilities :

Secured Loans

31.03.2010

Rs. In Millions

31.03.2009

Rs. In Millions

From Bank agt. Car

0.882

0.519

Corporation Bank agt. Debtors

1.227

1.012

Total

2.109

1.531

 

 

 

Banking Relations :

-

 

 

Auditors :

 

Name :

BK Batra

Chartered Accountants

Address :

E-146, Klkaji, New Delhi-110 019, Delhi, India

Tel. No.:

91-11-26466865/41603738

Mobile No.:

91-9810029032

 

 

CAPITAL STRUCTURE

 

As on 30.09.2010

Authorised Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- Each

Rs.0.100 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- Each

Rs.0.100 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.100

0.100

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.959

0.737

0.606

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1.059

0.837

0.706

LOAN FUNDS

 

 

 

1] Secured Loans

2.109

1.531

1.482

2] Unsecured Loans

0.037

0.076

0.013

TOTAL BORROWING

2.146

1.607

1.495

DEFERRED TAX LIABILITIES

0.044

0.030

0.027

 

 

 

 

TOTAL

3.249

2.474

2.228

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

2.237

1.320

1.448

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.670

0.691

0.089

 

Sundry Debtors
4.679

2.516

1.973

 

Cash & Bank Balances
0.009

0.095

0.160

 

Other Current Assets
0.255

0.484

0.373

 

Loans & Advances
0.539

0.161

0.265

Total Current Assets
6.152

3.947

2.860

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
4.287

1.737

1.179

 

Other Current Liabilities
0.436

0.470

0.479

 

Provisions
0.417

0.586

0.422

Total Current Liabilities
5.140

2.793

2.080

Net Current Assets
1.012

1.154

0.780

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

3.249

2.474

2.228

 

 

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

22.812

14.733

15.015

 

 

Other Income

0.055

0.038

0.019

 

 

TOTAL                                     (A)

22.867

14.771

15.034

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

15.532

8.227

8.376

 

 

Directors Remuneration

1.560

1.005

0.840

 

 

Labour Charges paid

1.600

1.589

1.404

 

 

Salary and Wages

1.743

1.766

1.908

 

 

Repair and Maintenance

0.077

0.051

0.042

 

 

Traveling Expenses

0.267

0.399

0.125

 

 

Other Expenditure

1.118

0.926

1.434

 

 

TOTAL                                     (B)

21.897

13.963

14.129

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

0.970

0.808

0.905

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

0.288

0.235

0.222

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

0.682

0.573

0.683

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.264

0.289

0.203

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

0.418

0.284

0.480

 

 

 

 

 

Less

TAX                                                                  (H)

0.156

0.153

0.195

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

0.262

0.131

0.285

 

 

 

 

 

 

Earnings Per Share (Rs.)

26

-

-

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
1.15

0.89

1.30

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
1.83

1.93

3.20

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
4.98

5.39

11.14

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.39

0.34

0.68

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
6.88

5.26

5.06

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.20

1.41

1.38

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference:

 

·         TATA Consultancy Services Limited

 

Bankers Charges Report as per Registry

 

This form is for

Creation of charge

Corporate identity number of the company

U52334DL2001PTC111305

Name of the company

COMSCRAFT TECHNOLOGY PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

K-5, B, II Floor Kalkaji, New Delhi-110 009, Delhi, India

Type of charge

Book Debts

Movable Property

Particular of charge holder

Corporation Bank, B-1, Sector-26, Noida- 201 301, Uttar Pradesh, India

Nature of description of the instrument creating or modifying the charge

Common deed of hypothecation of Movables/Assets/Debts .

Date of instrument Creating the charge

01.02.2008

Amount secured by the charge

Rs.2.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

Interest shall be charge @13.25% p.a. at present, rising and falling therewith compounded monthly rests. or at such other rates as may be specified by the bank from time to time.

 

Terms of Repayment

As per sanction terms.

 

Margin

As per sanction terms.

 

Extent and Operation of the charge

The hypothecated assets is to secure Overdraft limit of Rs.2.000 millions sanction by the Corporation Bank to the company.

Short particulars of the property charged

Hypothecation of following securities ;-

1. All current assets present and future including receivables. etc.

2. All movable fixed assets including equipment, furniture, fixtures,  and Machineries etc.

 

Fixed Assets:

 

·         Furniture and Fixture

·         Cell Phone

·         Car

·         Computer

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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]         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.44.97

UK Pound

1

Rs.73.34

Euro

1

Rs.63.98

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

27

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.