MIRA
INFORM REPORT
|
Report Date : |
03.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
QUANT CAPITAL PRIVATE LIMITED (w.e.f.28.12.2007) |
|
|
|
|
Formerly Known
As : |
QUANT CAPITAL SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
612-617, 6th Floor, Maker Chambers IV, Nariman Point,
Mumbai-400021, Maharashtra |
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
04.12.2007 |
|
|
|
|
Com. Reg. No.: |
11-176440 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 26.005 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120MH2007PTC176440 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMQ00807C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACQ1646B |
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|
|
|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is a securities and investment management firm. |
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|
|
|
No. of Employees : |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8100000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
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|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is a relatively small company having moderate track. There
appears some dip in the turnover of the company. However, trade relations are
reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution. |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Office : |
612-617, 6th Floor, Maker Chambers IV, Nariman Point,
Mumbai-400021, Maharashtra, India |
|
Tel. No.: |
91-22-40880100 |
|
Fax No.: |
91-22-40880198 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Adil Faramroz Patrawala |
|
Designation : |
Director |
|
Address : |
28, Sobhaya (Old Adenwala Building), 1st Floor, Senapati
Bapat Marg, Opposite Mahim Station, Mumbai-400016, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1970 |
|
Date of Appointment : |
05.12.2007 |
|
DIN No.: |
01539577 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U65990MH2005PLC154276 |
Edelweiss
Web Services Limited |
Director |
12-09-07 |
05-06-07 |
27-11-07 |
Active |
NO |
|
2 |
U30007MH2007PTC172586 |
Ahura
Ventures Private Limited |
Additional
director |
28-11-07 |
28-11-07 |
- |
Active |
NO |
|
3 |
U67190MH2007PTC176244 |
Quant
Transactional Services Private Limited |
Director |
01-12-07 |
01-12-07 |
- |
Active |
NO |
|
4 |
U72900MH2007PTC176245 |
Quant
Software Solutions Private Limited |
Director |
01-12-07 |
01-12-07 |
- |
Active |
NO |
|
5 |
U67120MH2007PTC176440 |
Quant
Capital Private Limited |
Director |
05-12-07 |
05-12-07 |
- |
Active |
NO |
|
6 |
U67190MH2007PTC176442 |
Quant
Financial Services Private Limited |
Director |
05-12-07 |
05-12-07 |
- |
Active |
NO |
|
7 |
U67110TZ2007PTC015839 |
Quant
Broking Private Limited |
Director |
05-12-07 |
05-12-07 |
20-05-11 |
Active |
NO |
|
8 |
U65993TZ2007PTC016954 |
Quant
Securities Private Limited. |
Director |
05-12-07 |
05-12-07 |
05-10-09 |
Active |
NO |
|
9 |
U67120MH2008PTC187514 |
Maatra
Holdings Private Limited |
Director |
14-10-08 |
14-10-08 |
- |
Active |
NO |
|
10 |
U72900MH2008PTC178784 |
Madhuram
Software Solutions Private Limited |
Additional
director |
24-11-08 |
24-11-08 |
- |
Active |
NO |
|
11 |
U72200MH2008PTC178783 |
Ariel
Trading Private Limited |
Additional
director |
24-11-08 |
24-11-08 |
09-03-10 |
Active |
|
|
12 |
U70102MH2009PTC191364 |
Yair
Properties Private Limited |
Director |
01-04-09 |
01-04-09 |
- |
Active |
NO |
|
13 |
U74999TZ2011PTC016880 |
Quant
Investment Services Private Limited |
Director |
18-03-11 |
18-03-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Sandeep Krishna Tandon |
|
Designation : |
Director |
|
Address : |
Flat No.48, Building No.3, Patrakar Housing Society, Bandra (East),
Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1969 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02025916 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U30007MH2007PTC172586 |
Ahura
Ventures Private Limited |
Director |
01-04-08 |
01-04-08 |
- |
Active |
NO |
|
2 |
U67120MH2007PTC176440 |
Quant
Capital Private Limited |
Director |
30-09-08 |
01-04-08 |
- |
Active |
NO |
|
3 |
U65993TZ2007PTC016954 |
Quant
Securities Private Limited. |
Director |
29-08-08 |
29-08-08 |
05-10-09 |
Active |
NO |
|
4 |
U67110TZ2007PTC015839 |
Quant
Broking Private Limited |
Director |
29-08-08 |
29-08-08 |
20-05-11 |
Active |
NO |
|
5 |
U67120MH2008PTC187514 |
Maatra
Holdings Private Limited |
Director |
14-10-08 |
14-10-08 |
- |
Active |
NO |
|
6 |
U72900MH2008PTC178784 |
Madhuram
Software Solutions Private Limited |
Additional
director |
24-11-08 |
24-11-08 |
- |
Active |
NO |
|
7 |
U72200MH2008PTC178783 |
Ariel
Trading Private Limited |
Additional
director |
24-11-08 |
24-11-08 |
09-03-10 |
Active |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Adil Faramroz Patrawala |
1326490 |
|
Adil Faramroz Patrawala Jointly with Kedarnath Nemlekar |
10 |
|
Sandeep Tandon |
1274000 |
|
Reliance Capital Limited, India |
7401423 |
|
|
|
|
Total |
10001923 |
AS ON 01.07.2010
|
Names of Allottees |
No. of Shares |
|
Reliance Capital Limited, India |
7401423 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a securities and investment management firm. |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. S. Sethi and Associates Chartered Accountant |
|
Address : |
191-R,Cavel Cross Lane No. 9, 2nd Floor, Dr Viegas Street, Kalbadevi,
Mumbai – 400002, Maharashtra, India |
|
Mobile No.: |
91-9324517501 |
|
Qualification : |
B. Com, F.C.A. |
|
|
|
|
Subsidiaries : |
Quant Broking Private Limited CIN No.: U67110TZ2007PTC015839 Quant Securities Private Limited. CIN No.: U65993MH2007PTC176441 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 220.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600500 |
Equity Shares |
Rs.10/- each |
Rs. 26.005
Millions |
|
|
|
|
|
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 220.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10001923 |
Equity Shares |
Rs.10/- each |
Rs. 100.019
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 |
26.005 |
26.005 |
10.000 |
|
|
2] Share Application Money |
2000.000 |
1398.600 |
398.600 |
|
|
3] Reserves & Surplus |
0.208 |
0.094 |
0.033 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2026.213 |
1424.699 |
408.633 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2026.213 |
1424.699 |
408.633 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1368.260 |
1417.200 |
332.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.739
|
0.391 |
0.089 |
|
|
Cash & Bank Balances |
1.347
|
6.355 |
43.252 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
657.111
|
2.191 |
40.631 |
|
Total
Current Assets |
659.197
|
8.937 |
83.972 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.386
|
0.632 |
7.513 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.858
|
0.806 |
0.026 |
|
Total
Current Liabilities |
1.244
|
1.438 |
7.539 |
|
|
Net Current Assets |
657.953
|
7.499 |
76.433 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2026.213 |
1424.699 |
408.633 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1.532 |
3.577 |
0.175 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Financial Expenses |
1.366 |
2.736 |
0.116 |
|
|
|
Depreciation |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1.366 |
2.736 |
0.116 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.166 |
0.841 |
0.059 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.052 |
0.780 |
0.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.114 |
0.061 |
0.033 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.094 |
0.033 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.208 |
0.094 |
0.033 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.04 |
0.05 |
0.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.44
|
1.71 |
18.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.03
|
9.41 |
0.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.00 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
529.90
|
6.21 |
11.14 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The gross income inclusive of other income for the financial year was
Rs. 1.532 millions as against Rs. 3.571 millions for the previous financial
year registering an increase. The Profit before tax (after financial charges
and depreciation charges) of Rs. 0.166 million and profit after tax of Rs.
0.114 million for the financial year as against Rs. 0.841 million and Rs. 0.061
million respectively, for the previous financial year.
WEB SITE DETAILS
Company
Profile
Welcome to Quant
Objectivity is their religion. They believe
that, with the right application of human analysis, data can become God. Quant
aims to transform investment decision-making processes by empowering them with
the only kind of reliable advice – measurable advice. In the end, analysis always
adds up!
Subject is one of India’s fastest-growing
financial services company providing securities and investment management
services to a substantial and diversified client base since 2008.
Introduction
Set up in Mumbai in 2008, Quant Capital is a
securities and investment management firm that aims to provide a wide range of
services across the Asia-Pacific region to a substantial and diversified client
base that includes corporations, asset managers, banks, financial institutions,
pension funds and high net-worth individuals.
By bringing together deep domain knowledge
in its relevant spheres of operation with cutting-edge platforms for delivery
and execution, Quant Group focuses on building long-lasting partnerships with
clients and employees.
MANAGEMENT TEAM
Sandeep Tandon
Leads the team at Quant. Has 16 years of rich experience in various capacities and has consistently proved his leadership qualities throughout his career. In the past eight years, Sandeep has been instrumental in setting up a number of key equity derivatives desks in the country, including at ICICI Securities, Refco Sify Securities (now MF Global) and Kotak Securities. Prior to these, he was a key member of the core team in initializing the fund management business at IDBI Asset Management Company (now Principal Asset Management Company).
Adil Patrawala
Leads the operations team at Quant. Has 15 years of experience in operations in equities and derivatives markets, with in-depth knowledge of trading, clearing and settlement, and risk-management mechanisms. Was COO – Private Client Group at Edelweiss Capital prior to co-founding Quant. Adil has been a key member of the equity broking teams at HDFC Securities and Refco Sify Securities (now MF Global). Deserves credit for building and implementing one of the most advanced derivatives online and offline trading platforms.
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. 48.93 |
|
|
1 |
Rs. 76.51 |
|
Euro |
1 |
Rs. 66.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.