MIRA
INFORM REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEBUG SENSE |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1996 |
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PAN No.: [Permanent Account No.] |
AEYPR0110A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Trader, Dealer and Distributor of Computer Accessories |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 900 |
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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 proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Name : |
Mr. Manish |
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Designation : |
Accountant |
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Date : |
25.04.2011 |
LOCATIONS
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Registered Office/ Head Office : |
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Tel. No.: |
91-657-2230930/592 |
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Mobile No.: |
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Fax No.: |
91-657-2230930 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
Flat – 1B, Dr. K. D. Chowdhary Apartment, South Office Para – 2,
Doranda, |
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E-Mail : |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Raj Rajnish |
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Designation : |
Proprietor |
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Qualification : |
B.A |
KEY EXECUTIVES
|
Name : |
Mr. Manish Kumar |
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Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader, Dealer and Distributor of Computer Accessories |
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Brand Names : |
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Terms : |
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Selling : |
Cash, Credit, Cheque |
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Purchasing : |
Cash, Credit, Cheque |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
19 (15 - In Office + 4 – In Branch) |
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Bankers : |
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Facilities : |
Credit Limit: Rs. 7.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sanjay Harshit and Associate Chartered Accountant |
|
Address : |
Goel Bhawan, R-Road, Bistupur, Jamshepur – 381001, |
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Tel. No.: |
91-657-3290344 |
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E-Mail : |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.241 Millions |
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Borrowed : |
Rs. 3.126 Millions |
|
Total : |
Rs. 3.367
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
0.241 |
0.621 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.241 |
0.621 |
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LOAN FUNDS |
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|
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1] Secured Loans |
|
2.615 |
0.341 |
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2] Unsecured Loans |
|
0.511 |
0.511 |
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TOTAL BORROWING |
|
3.126 |
0.852 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
3.367 |
1.473 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.417 |
0.492 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.337 |
0.293 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
1.786 |
1.034 |
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Sundry Debtors |
|
4.179 |
1.454 |
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Cash & Bank Balances |
|
0.093 |
0.230 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
0.112 |
0.042 |
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Total
Current Assets |
|
6.170 |
2.760 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Sundry Creditors |
|
3.520 |
2.012 |
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Other Current Liabilities |
|
0.037 |
0.060 |
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|
Provisions |
|
0.000 |
0.000 |
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Total
Current Liabilities |
|
3.557 |
2.072 |
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Net Current Assets |
|
2.613 |
0.688 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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3.367 |
1.473 |
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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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Sales and Service Charges |
|
30.714 |
12.422 |
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Other Income |
|
0.222 |
0.303 |
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TOTAL |
|
30.936 |
12.725 |
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Less |
EXPENSES |
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|
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Cost of goods sold |
|
27.747 |
11.211 |
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Staff salary |
|
1.801 |
0.284 |
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Office expenses |
|
0.079 |
0.026 |
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Advertisement expenses |
|
0.083 |
0.037 |
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Entertainment expenses |
|
0.022 |
0.009 |
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Postage and courier charges |
|
0.021 |
0.009 |
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Other Expenses |
|
0.320 |
0.527 |
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TOTAL |
|
30.073 |
12.103 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
0.863 |
0.622 |
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Less |
FINANCIAL
EXPENSES |
|
0.305 |
0.196 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.558 |
0.426 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.075 |
0.092 |
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NET PROFIT |
|
0.483 |
0.334 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
1.56 |
2.62 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
1.57 |
2.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.33 |
10.27 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
2.00 |
0.54 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
27.73 |
4.71 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.73 |
1.33 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE DETAILS
PROFILE:
Subject is one of the leading companies in Jharkhand providing solutions in the field of Hardware and Software at optimized cost and at the doorsteps of the customer, fulfilling their requirements. They have focussed on Computer Hardware, Peripherals and Office automation products.
They are driven by customer needs and do not impose a specific brand on there customers, Instead they believe in providing an optimum and specific solution to each customer based on his budget and real needs. To meet this objective, they have in there portfolio a diverse range of principals whose products they are dealing with.
Debug Sense is managed by Mr. Raj Rajnish who started this company in the year 1996 with the purpose of providing solutions in the field of Information Technology and Office Automation Products.
The company is manned with qualified, skilled and efficient
work force who are all focussed towards Customer satisfaction - which is there
top priority. They have been serving reputed organizations in and around
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.44.59 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
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.