MIRA
INFORM REPORT
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Report Date : |
30.05.2011 |
IDENTIFICATION DETAILS
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Name : |
MEDIAMAN INFOTECH PRIVATE LIMITED |
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Registered Office : |
11, Vidyarthi Bhavan, 2nd Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
11.11.1996 |
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Com. Reg. No.: |
11-103900 |
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Capital
Investment / Paid-up Capital : |
Rs.3.000 Millions |
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CIN No.: [Company
Identification No.] |
U72200MH1996PTC103900 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM20869C |
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PAN No.: [Permanent
Account No.] |
AAACM8186G |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Traders and Distributors
of Hardware and Computer Peripherals |
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No. of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 63740 |
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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 reported as 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.
INFORMATION PARTED BY
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Name : |
Mr. Dushyant Mehta |
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Designation : |
Director |
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Date : |
28.05.2011 |
LOCATIONS
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Registered Office : |
11, Vidyarthi Bhavan, 2nd Floor, |
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Tel. No.: |
91-22-23823100 / 200 / 8100 / 23877418 |
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Fax No.: |
91-22-23877418 / 23828200 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
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Warehouse : |
101, |
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Tel. No.: |
91-95250-2335649 |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
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Branch Office : |
Located at ·
Ahmedabad ·
Bhubaneshwar ·
Chennai ·
·
·
·
·
·
·
Gurgaon ·
Guwahati ·
·
·
Mumbai (Digital Shop) ·
Pune ·
·
Hubli Dharwar ·
Kolkatta ·
Parwanoo ·
Secunderabad |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Dushyant Daulatrai Mehta |
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Designation : |
Director |
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Address : |
Flat No. 11, IInd Floor, Plot No. 38, Pallavi, Manikrao Lotikar Marg, Sewri
Wadala Road, King Circle, Mumbai – 400 019, Maharashtra, India |
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Date of Birth/Age : |
05.03.1965 |
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Qualification : |
B.Com, M Phil |
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Date of Appointment : |
15.12.1998 |
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Name : |
Mrs. Aditi Dushyant Mehta |
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Designation : |
Director |
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Address : |
Flat No. 11, IInd Floor, Plot No. 38, Pallavi, Manikrao Lotikar Marg,
Sewri Wadala Road, King Circle, Mumbai – 400 019, Maharashtra, India |
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Date of Birth/Age : |
01.08.1976 |
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Qualification : |
B.Com |
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Date of Appointment : |
01.07.2002 |
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Name : |
Mr. Dhairesh Harikisondas Bhimjiyani |
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Designation : |
Director |
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Address : |
A 34, G K Nagar, |
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Date of Birth/Age : |
14.07.1965 |
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Qualification : |
B.Com |
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Date of Appointment : |
15.11.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
No. of Shares |
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Dushyant Daulatrai Mehta |
199900 |
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Aditi Dushyant Mehta |
100100 |
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Total |
300000 |
Equity share
breakup (percentage of total equity)
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(AS ON 30.09.2010) 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 : |
Traders and Distributors of
Hardware and Computer Peripherals |
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Products : |
·
StoreJet
25C ·
JetFlash ·
Transcend
T.photo 720 ·
Palit
GeForce 9600GT ·
Memorex
DVD-RW ·
Emtec Movie
Club R700 ·
Palit
Radeon 4850 ·
Eset Smart
Security ·
Eset
NOD32Antivirus |
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Imports : |
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Products: |
Computer Peripherals |
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Countries : |
·
·
China ·
Thailand |
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Terms : |
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Purchasing : |
Depends |
GENERAL INFORMATION
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Customers : |
Corporates |
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No. of Employees : |
60 |
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Bankers : |
Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai -
400001, Maharashtra, India |
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Facilities: |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
G N Shanbhag and Company Chartered Accountant |
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Address : |
413, Anurag Business Centre, Near Amar Cinema,off W T Patil Marg,
Chamber, Mumbai – 400 001, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
420.000 |
The above information has been parted by Mr. Dushyant (Director)
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 |
3.000 |
3.000 |
3.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.935 |
10.353 |
8.318 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.935 |
13.353 |
11.318 |
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LOAN FUNDS |
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1] Secured Loans |
3.187 |
5.704 |
0.000 |
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2] Unsecured Loans |
0.261 |
0.028 |
0.261 |
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TOTAL BORROWING |
3.448 |
5.732 |
0.261 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.021 |
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TOTAL |
19.383 |
19.085 |
11.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.039 |
1.343 |
1.725 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.749 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.179 |
0.071 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
27.384 |
9.454 |
9.191 |
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Sundry Debtors |
14.291 |
14.241 |
17.853 |
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Cash & Bank Balances |
8.495 |
4.167 |
(0.457) |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
27.363 |
26.614 |
16.021 |
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Total
Current Assets |
77.533 |
54.476 |
42.608 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
55.014 |
32.613 |
28.082 |
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Other Current Liabilities |
1.664 |
1.741 |
0.766 |
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Provisions |
6.439 |
5.451 |
3.885 |
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Total
Current Liabilities |
63.117 |
39.805 |
32.733 |
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Net Current Assets |
14.416 |
14.671 |
9.875 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
19.383 |
19.085 |
11.600 |
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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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TOTAL |
383.786 |
361.193 |
369.607 |
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Less |
EXPENSES |
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TOTAL |
380.132 |
357.656 |
22.754 |
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PROFIT BEFORE
TAX |
3.654 |
3.537 |
2.783 |
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Less |
TAX |
1.073 |
1.502 |
1.412 |
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PROFIT AFTER TAX
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2.581 |
2.035 |
1.371 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.354 |
4.718 |
3.747 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
0.000 |
0.400 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
8.935 |
6.753 |
5.118 |
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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
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0.56 |
0.37
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.65
|
6.34 |
6.28
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Return on Investment (ROI) (PBT/Networth) |
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0.23
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0.26 |
0.25
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Debt Equity Ratio (Total Liability/Networth) |
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4.18
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3.41 |
2.92
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Current Ratio (Current Asset/Current Liability) |
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1.23
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1.37 |
1.30
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LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
55.014 |
32.613 |
28.082 |
NOTE:
The registered office address of the company has been shifted from 11,
Vidyarthi Bhavan, 3rd Floor, Tribhuvan Road, Mumbai – 400 004,
Maharashtra, India to present w.e.f. 01.10.2009
TRADE REFERENCES:
· Air Conditioner
· Electrical Installation
· Office Equipment
· Furniture
· Computer
· Motor Car
BUSINESS
Though the turnover is marginally low as compared to the last year, your directors are pleased to state that the Gross Profit is higher due to strict control over Cost of Goods Sold and Administrative Expenses. The company hopes to increase the turnover and receipt in the forthcoming year
FORM 8:
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Corporate identity number of the company |
U72200MH1996PTC103900 |
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Name of the company |
MEDIAMAN INFOTECH PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
11, Vidhyarti Bhavan, 2nd
Floor, Tribhuvan Road, Mumbai -400004, Maharashtra, India |
|
This form is for |
Creation of charge |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of charge holder |
Standard Chartered Bank |
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Nature of instrument creating charge |
Hypothecation Agreement |
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Date of instrument Creating the charge |
03/09/2010 |
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Amount secured by the charge |
Rs.87.500 Millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Credit Facility. Interest / Commission - As agreed by and with
the Bank from time to time. Terms of Repayment As agreed by and with the Bank from time
to time. Margin As applicable, if any. Extent and Operation of the charge The Bank is having first charge on security
given by the Company, as described in Sr. no. 15. |
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Short particulars of the property charged |
Hypothecation by way of first charge on:
a) all the stock in trade both present and future consisting of raw
materials, finished goods, goods in process of manufacturing and other
merchandise b) all the present and future book debts, outstanding moneys
receivable, claims and bills. c) all the movable fixed assets. (as more
described in attached agreement) |
FIXED ASSETS
·
Air Condition
·
Electrical Installation
·
Office Equipment
·
Furniture
·
Computer
·
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.45.21 |
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|
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.