MIRA
INFORM REPORT
|
Report Date : |
02.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INFOCOMM ENGINEERING PRIVATE LIMITED (w.e.f. 21.04.2005) |
|
|
|
|
Formerly Known
As : |
RELIANCE CYBER LOGARITHM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Manek Mahal, Flat No. 19 and 20, 6th Floor, 90, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.07.2000 |
|
|
|
|
Com. Reg. No.: |
11-127631 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PTC127631 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR19364C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR7570C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider and Consultant for all types of Telecommunication and
other related services. |
|
|
|
|
No. of Employees
: |
Not divulged by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 84000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Anil Dhirubhai Ambani Group. It is an
established company having satisfactory track. There appear some losses being
incurred by the company in current year i.e. 2009-10. However, net worth
appears to be satisfactory. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct. In view of strong promoters, 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 DECLINED BY
|
Name : |
Mr. Udemaru |
|
Designation : |
Finance Head |
|
Date : |
30.08.2011 |
LOCATIONS
|
Registered Office : |
Manek Mahal, Flat No. 19 and 20, 6th Floor, 90, |
|
Tel. No.: |
91-22-30386286 |
|
Mobile No.: |
91-9371021871 (Mr. Prashant Poojara) |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Surendra Kumar Pipara |
|
Designation : |
Director |
|
Address : |
Flat No. 1702, Raheja Classique, Building No. 1, Raheja Cllassique, New
Link Road, Oshiwara, Andheri (West), Mumbai – 400 053, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1963 |
|
Date of Appointment : |
07.07.2000 |
|
Date of Ceasing : |
18.05.2010 |
|
DIN No : |
00359036 |
|
|
|
|
Name : |
Mr. Tunu Jaydev Sahu |
|
Designation : |
Director |
|
Address : |
B 304, Siddhivinayak Darshan, |
|
Date of Birth/Age : |
28.06.1973 |
|
Date of Appointment : |
24.09.2008 |
|
DIN No : |
02021223 |
|
|
|
|
Name : |
Mr. Prakash Das Shenoy |
|
Designation : |
Director |
|
Address : |
Flat No.104, Fortuna B. Lodha Paradise, Near Majiwada
Flyover , Eastern |
|
Date of Birth/Age : |
01.05.1973 |
|
Date of Appointment : |
18.05.2010 |
|
DIN No : |
00005394 |
KEY EXECUTIVES
|
Name : |
Mr. Udemaru |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Reliance Communications Tamil Nadu Private Limited, India |
1500 |
|
Reliance Communications Maharashtra Private Limited, India |
1900 |
|
Reliance Communications West Bengal Private Limited, India |
1800 |
|
Reliance Communications Haryana Private Limited, India |
1900 |
|
Giga Solutions Private Limited, India |
1500 |
|
Reliance Telephones Limited, India |
1400 |
|
Total
|
10000 |
AS ON 29.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider and Consultant for all types of Telecommunication and
other related services. |
|
|
|
|
Products : |
Contract Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi Anand and Company Chartered Accountant |
|
Address : |
B-202, Crystal Plaza, New Link Road, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Tel No.: |
91-22-66975000 |
|
Fax No.: |
91-22-66975004 |
CAPITAL STRUCTURE
AS ON 31.03.2010
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
|
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 |
20.917 |
52.059 |
36.445 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21.017 |
52.159 |
36.545 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
5069.700 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
5069.700 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.017 |
5121.859 |
36.545 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
39000.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
96.215 |
94.380 |
94.380 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
939.509
|
1804.456
|
1764.905 |
|
|
Cash & Bank Balances |
33.723
|
2.499
|
0.154 |
|
|
Other Current Assets |
516.796
|
1078.502
|
1190.809 |
|
|
Loans & Advances |
634.454
|
5751.294
|
552.393 |
|
Total
Current Assets |
2124.482
|
8636.751 |
3508.261 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1120.052 |
551.701 |
|
|
Other Current Liabilities |
41143.071
|
2433.547
|
2974.521 |
|
|
Provisions |
56.609
|
55.673
|
39.874 |
|
Total
Current Liabilities |
41199.680
|
3609.272 |
3566.096 |
|
|
Net Current Assets |
(39075.198)
|
5027.479
|
(57.835) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.017 |
5121.859 |
36.545 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
4431.616 |
2831.628 |
|
|
|
Other Income |
|
|
6.389 |
|
|
|
TOTAL |
2856.517 |
4431.616 |
2838.017 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
4394.992 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2887.660 |
4394.992 |
2809.269 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(31.143) |
36.624 |
28.748 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
21.010 |
14.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(31.143) |
15.614 |
14.548 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3114.27) |
1561.44 |
1454.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(1.09)
|
0.35
|
0.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
1.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.47)
|
0.42
|
0.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.48)
|
0.70
|
0.79 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1960.30
|
166.39
|
97.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.05
|
2.39
|
0.98 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars
|
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Dues to Micro, Small and Medium enterprises |
NA |
0.000 |
0.000 |
|
Others |
NA |
1120.052 |
551.701 |
FINANCIAL RESULTS
During the year
the Company has incurred a loss of Rs.31.143 millions as against profit of Rs.
15.614 millions earned during the previous financial year.
The Company is in
the business of construction inter-alia developing Special Economic Zones
(SEZs), rail road projects in the State of Maharashtra, Karnataka and Andhra
Pradesh. The Company is in the process of expanding its operations and services
by participating in tenders and bids in allied projects.
The Company has
entered into various contracts in the areas of construction; the benefits from
such contracts will accrue in the future. The Board of Directors has been
periodically reviewing the progress of such contracts.
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. 46.01 |
|
|
1 |
Rs. 75.42 |
|
Euro |
1 |
Rs. 66.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.