MIRA
INFORM REPORT
|
Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SSK INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17, Akshay Complex, Off. Dhole Patil Road, Pune-411001, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.09.2006 |
|
|
|
|
Com. Reg. No.: |
11-129119 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 9.999
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900PN2006PTC129119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES18397B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS1993F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider
For data Printing in Telecom , Banking, Insurance, Retail and Educational
Sectors. |
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 96000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
17, Akshay Complex, Off. Dhole Patil Road, Pune-411001, Maharashtra,
India |
|
Tel. No.: |
91-20-26128259/ 64010294 |
|
Fax No.: |
91-20-26134837 |
|
E-Mail : |
|
|
|
|
|
Branch office 1 : |
Plot No.-72, Sector 19A, Near Green Park Hotel, Opposite APMC Market,
Navi Mumbai (Vashi)-400705, Maharashtra, India |
|
|
|
|
Branch Office 2 : |
Plot No. 521, Phase 5 Udyog Vihar, Gurgaon-122001, Haryana, India |
|
|
|
|
Branch Office 3 : |
35/1, Opposite Dr. Ramayya’s Parimal Hospital, Opposite Elbit
Dignostic Centre, Basheerbaugh, Hyderabad-500029, Andhra Pradesh, India |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rajesh Jeevan Uttamchandani |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A/6, Clover Garden, 4, Neylore Road, Pune-411001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.01.1964 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00139105 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Govind Jeevan Uttamchandani |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A/6, Clover Garden, 4, Neylore Road, Pune-411001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.05.1961 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00139239 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010 )
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh J Uttamchandani |
|
499950 |
|
Govind Uttamchandani |
|
499950 |
|
Total |
|
999900 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider For
data Printing in Telecom , Banking, Insurance, Retail and Educational
Sectors. |
GENERAL INFORMATION
|
Bankers : |
·
Standard Chartered Bank, SME Credit, 23-25, M G
Road, Fort, Mumbai-400001, Maharashtra, India ·
ICICI Bank Limited ·
ABN Amro Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute: |
Reliance Capital Limited, “H” Block, 1st Floor, Dhirubhai
Ambani Knowledge City, Koparkhairne, Navi Mumbai-400710, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
D G Kango Chartered Accountant |
|
Address : |
2040, Sadashiv Peth, Nikhil Pride, 4th Floor, Tilak Road,
Pune-411030, Maharashtra, India |
|
PAN No.: |
ACDPK5223A |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999900 |
Equity Share |
Rs.10/- each |
Rs. 9.999
Millions |
|
|
|
|
|
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 |
9.999 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.877 |
13.466 |
3.827 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23.876 |
13.566 |
3.927 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
66.590 |
37.756 |
25.983 |
|
|
2] Unsecured Loans |
54.531 |
35.974 |
48.639 |
|
|
TOTAL BORROWING |
121.121 |
73.730 |
74.622 |
|
|
DEFERRED TAX LIABILITIES |
3.215 |
2.694 |
0.962 |
|
|
|
|
|
|
|
|
TOTAL |
148.212 |
89.990 |
79.511 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
80.380 |
79.790 |
55.013 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
40.969 |
0.667 |
0.692 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.536
|
2.356 |
2.824 |
|
|
Sundry Debtors |
21.623
|
19.424 |
21.643 |
|
|
Cash & Bank Balances |
5.060
|
1.677 |
1.602 |
|
|
Other Current Assets |
1.461
|
0.124 |
2.077 |
|
|
Loans & Advances |
4.601
|
2.956 |
3.365 |
|
Total
Current Assets |
45.281
|
26.537 |
31.511 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
14.940
|
15.159 |
6.506 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
3.514
|
1.916 |
1.306 |
|
Total
Current Liabilities |
18.454
|
17.075 |
7.812 |
|
|
Net Current Assets |
26.827
|
9.462 |
23.699 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.036 |
0.071 |
0.107 |
|
|
|
|
|
|
|
|
TOTAL |
148.212 |
89.990 |
79.511 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
133.651 |
123.409 |
|
|
|
|
Other Income |
0.120 |
2.216 |
|
|
|
|
TOTAL (A) |
133.771 |
125.625 |
77.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
102.116 |
93.805 |
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
102.116 |
93.805 |
73.225 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.655 |
31.820 |
(including
depreciation and financial charges) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.757 |
4.873 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.898 |
26.947 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.066 |
15.452 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.832 |
11.495 |
3.849 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.522 |
1.856 |
0.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.310 |
9.639 |
3.082 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.31 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.70
|
7.67 |
3.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.10
|
9.31 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.62
|
10.81 |
4.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.85 |
0.98 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.85
|
6.69 |
20.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.45
|
1.55 |
4.03 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U72900PN2006PTC129119 |
|
Name of the
company |
SSK INFOTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A/6, Clover
Garden 4, Neylore Rod, Pune-411001, Maharashtra, India |
|
This form is for |
Creation of Charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort,
Mumbai-400001, Maharashtra, India Email: Biplab.Das1@sc.cm |
|
Nature of
instrument creating charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
28.07.2010 |
|
Amount secured by
the charge |
Rs. 57.270
Millions |
|
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. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
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 debts, outstanding moneys receivable, claims and bills c)
All
the movable fixed asses |
Fixed Assets:
·
Computer
·
FTB Server
·
Furniture
·
Office Equipments
·
Plant and Machinery
·
Software
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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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.