MIRA
INFORM REPORT
|
Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
REASONING GLOBAL EAPPLICATIONS LIMITED |
|
|
|
|
Registered
Office : |
8-2-293/82/a/1244, Plot No.1244,Near Jubliee, Hills Check Post,Road
No.36, Jubliee Hills, Hyderabad, Andhra Pradesh – 500033, India |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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|
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|
Date of
Incorporation : |
14.05.2007 |
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|
|
|
Com. Reg. No.: |
11-053989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.257 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200AP2007PLC053989 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDR04922B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is an IT enable company offering customized and mobile based
solution to small medium and large scale retail companies across the global |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 399096 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. However, Trade relations are reported as
fair. Business is active. Payments are reported to be slow . The company can be considered for business dealings with some
cautions. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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
: |
8-2-293/82/a/1244, Plot No.1244,Near Jubliee, Hills Check Post,Road
No.36, Jubliee Hills, Hyderabad, Andhra Pradesh – 500033, India |
|
Tel. No.: |
91-40-23316617 / 91-40-44430000 |
|
E-Mail : |
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|
Website : |
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Branch 1: |
Gurgaon (Reasoning Global eApplications Limited) |
|
Address: |
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Branch 2: |
Mumbai (Reasoning Global eApplications Limited) |
|
Address : |
Office No: 106 Lok Centre Corporate Park Lok Bharati Complex Marol
Maroshi Road, Marol Andheri East Mumbai 400059, Maharashtra, India |
|
|
|
|
Branch 3: |
Pune (Reasoning Global eApplications Limited) |
|
Address : |
4, Ameya, plot 15, Chintamani society, Karve nagar, Pune- 411051 Maharashtra, India |
|
|
|
|
Branch 4: |
(Reasoning Global eApplications Limited) |
|
Address : |
SCF # 86, IInd Floor, Sector-14 Market, Gurgaon - 122001, |
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Branch 5: |
|
|
Address : |
A 403, Suryakiran Apartments,
42/1, |
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|
|
|
Branch 6: |
Chennai |
|
Address : |
No 15/22, G1, Immanuel flat,
Sanjay Gandhi Nagar, Adambakkam, |
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|
|
|
Overseas Office 1 ; |
|
|
Address : |
583, |
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Tel no. : |
91-65- 94572603 |
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Overseas Office
2 : |
|
|
Address : |
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Abhay Raosaheb Deshpande |
|
Designation : |
Managing Director |
|
Address : |
310, My Home Mahuban, Behind Chermas, Ameerpet, |
|
Date of Birth/Age : |
18.08.1971 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
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 |
U72900AP1999PTC032632 |
MALAMALL.COM
PRIVATE LIMITED |
Director |
04-10-99 |
04-10-99 |
31-03-07 |
Active |
NO |
|
2 |
U72200AP2001PTC037187 |
MUSIKA SOLUTIONS
PRIVATE LIMITED |
Director |
24-08-01 |
24-08-01 |
- |
Strike off |
NO |
|
3 |
U18202AP2002PLC038658 |
Ecoaspen
Merchandising Limited |
Director |
29-09-07 |
31-03-06 |
22-08-11 |
Active |
NO |
|
4 |
U72200AP2007PLC053989 |
Reasoning Global
eApplications Limited |
Managing
director |
30-09-10 |
14-05-07 |
- |
Active |
NO |
|
5 |
U72200AP2007PTC056045 |
CHROME
IT-VENTURES PRIVATE LIMITED |
Director |
23-10-07 |
23-10-07 |
30-04-11 |
Active |
NO |
|
6 |
U72900AP2008PTC057468 |
KEY2WEB ITech
Private Limited |
Director |
06-02-08 |
06-02-08 |
- |
Active |
NO |
|
Name : |
Mr. Lanka Venkata Naga Muralidhar |
|
Designation : |
Director |
|
Address : |
36-58, Defence Colony, Sainikpuri, Secunderabad – 500094, |
|
Date of Birth/Age : |
09.08.1963 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
00274642 |
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 |
L72200AP1995PLC022309 |
LA MULTI INFO
SYSTEMS LIMITED |
Director |
21-04-00 |
21-04-00 |
27-09-04 |
Active |
NO |
|
2 |
U67120AP1999PTC032230 |
ANNAPURNA
CAPITALS PRIVATE LIMITED |
Director |
16-01-01 |
16-01-01 |
- |
Active |
|
|
3 |
U01111AP1999PTC031929 |
ANNAPURNA
GARDENS PRIVATE LIMITED |
Director |
29-09-01 |
29-09-01 |
- |
Active |
|
|
4 |
U67120AP2000PTC033758 |
LASTAKI
MANAGEMENT CONSULTANTS PRIVATE LIMITED |
Director |
16-12-02 |
16-12-02 |
- |
Active |
NO |
|
5 |
U67120AP2004PTC042643 |
PADMAPRIYAN
CAPITAL MARKETS PRIVATE LIMITED |
Director |
12-02-04 |
12-02-04 |
- |
Active |
NO |
|
6 |
U45200AP2002PTC040157 |
PARVANI
SECURITIES TRADING PRIVATE LIMITED |
Director |
15-04-04 |
15-04-04 |
28-03-09 |
Active |
|
|
7 |
L31102OR1982PLC001151 |
ALFA
TRANSFORMERS LIMITED |
Director |
15-09-06 |
24-07-06 |
- |
Active |
NO |
|
8 |
U80301AP2006PTC051861 |
VESTAL
EDUCATIONAL SERVICES PRIVATE LIMITED |
Director |
01-12-06 |
01-12-06 |
- |
Active |
NO |
|
9 |
U72200AP2007PLC053989 |
Reasoning Global
eApplications Limited |
Director |
14-05-07 |
14-05-07 |
- |
Active |
NO |
|
10 |
U80222AP2007PTC055706 |
VESTAL SCHOOLS
PRIVATE LIMITED |
Director |
27-09-07 |
27-09-07 |
- |
Active |
NO |
|
11 |
U28990AP1996PTC025323 |
KRISHNASAA FABS
PRIVATE LIMITED |
Director |
12-06-08 |
30-01-08 |
- |
Active |
|
|
12 |
U72900AP2008PTC057468 |
KEY2WEB ITech
Private Limited |
Director |
06-02-08 |
06-02-08 |
- |
Active |
NO |
|
13 |
U93000AP2009PTC063233 |
Lastaki Advisors
Private Limited |
Director |
31-03-09 |
31-03-09 |
- |
Active |
NO |
|
14 |
U67100AP2009PTC065878 |
Lastaki
Investment Advisory Services Private Limited |
Director |
19-11-09 |
19-11-09 |
- |
Active |
NO |
|
Name : |
Mr. Kedar Choudhary |
|
Designation : |
Director |
|
Address : |
Flat no.706, 6-3-1085/1, Alpine Heights, Somajiguda, |
|
Date of Birth/Age : |
05.06.1970 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
01424923 |
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 |
U72900AP1999PTC032632 |
MALAMALL.COM
PRIVATE LIMITED |
Director |
08-10-99 |
08-10-99 |
31-03-07 |
Active |
NO |
|
2 |
U72200AP2001PTC037187 |
MUSIKA SOLUTIONS
PRIVATE LIMITED |
Director |
24-08-01 |
24-08-01 |
- |
Strike off |
NO |
|
3 |
U72200AP2007PLC053989 |
Reasoning Global
eApplications Limited |
Director |
05-02-10 |
14-05-07 |
- |
Active |
NO |
|
4 |
U72200AP2007PTC055933 |
Next Education
India Private Limited |
Director |
16-10-07 |
16-10-07 |
25-11-10 |
Active |
NO |
|
Name : |
Mr. Nitin Manohar Padmawar |
|
Designation : |
Whole-time Director |
|
Address : |
70, Pushpali, Mahaveer Society, Shivji Nagar, Nanded – 431602, |
|
Date of Birth/Age : |
12.03.1975 |
|
Date of Appointment : |
05.02.2010 |
|
DIN No.: |
01789831 |
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 |
U72900AP2008PTC057468 |
KEY2WEB ITech
Private Limited |
Director |
06-02-08 |
06-02-08 |
- |
Active |
NO |
|
2 |
U72200AP2007PLC053989 |
Reasoning Global
eApplications Limited |
Whole-time
director |
05-02-10 |
05-02-10 |
- |
Active |
NO |
|
Name : |
Mr. Girish Kasliwal |
|
Designation : |
Whole-time Director |
|
Address : |
Visava Nagar, Nanded – 431602, |
|
Date of Birth/Age : |
16.06.1974 |
|
Date of Appointment : |
05.02.1010 |
|
DIN No.: |
01794611 |
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 |
U72900AP2008PTC057468 |
KEY2WEB ITech Private
Limited |
Director |
06-02-08 |
06-02-08 |
- |
Active |
NO |
|
2 |
U72200AP2007PLC053989 |
Reasoning Global
eApplications Limited |
Whole-time
director |
05-02-10 |
05-02-10 |
- |
Active |
NO |
|
Name : |
Mrs. Himali Kabra |
|
Designation : |
Director |
|
Address : |
2, |
|
Date of Birth/Age : |
31.05.1968 |
|
Date of Appointment : |
06.02.2008 |
|
DIN No.: |
02051795 |
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 |
U72200AP2007PLC053989 |
Reasoning Global
eApplications Limited |
Director |
13-11-08 |
06-02-08 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Umesh Aundhekar |
|
Designation : |
Product Head |
|
|
|
|
Name : |
Sridhar Reddy |
|
Designation : |
Project Lead |
|
|
|
|
Name : |
Kiran Vaidya |
|
Designation : |
Head Finance |
|
|
|
|
Name : |
Supriyo Chatterjee |
|
Designation : |
Project Head |
|
|
|
|
Name : |
Anubhav Kushwaha, |
|
Designation : |
VP – Business
Strategy and Alliances |
|
|
|
|
Name : |
Anuja Majge |
|
Designation : |
Project Lead |
|
|
|
|
Name : |
Dashradh Ram
Nutakki |
|
Designation : |
Business Manager –
Franchise |
|
|
|
|
Name : |
Arshad Shaikh |
|
Designation : |
Project Manager |
|
|
|
|
Name : |
Anuj Biyani, |
|
Designation : |
Head - Strategy
and Planning |
|
|
|
|
Name : |
Anil Thapa |
|
Designation : |
Creative Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
|
|
Fully paid up
Shares |
Partly paid up
Shares |
|
Abhay Raosaheb Deshpande |
501243 |
-- |
|
Lanka Venkta naga Muralidhar |
18266 |
-- |
|
Kedar Choudhary |
25000 |
-- |
|
Nitin Premraj Agale |
500 |
-- |
|
Dr. Avinash R. Deshpande |
1850 |
-- |
|
Kiran G. Vaidya |
7500 |
-- |
|
Umesh V. Aundhekar |
2500 |
-- |
|
Annapurna Capitals Private Limited |
15850 |
-- |
|
Annapurna Gardens Private Limited |
7575 |
-- |
|
Falgun Oza |
3000 |
-- |
|
Neelaveni Investments Private Limited |
1500 |
-- |
|
TBVP Chandramouli |
4167 |
-- |
|
Kuchimanchi Rama lakshmi |
3000 |
-- |
|
Gunturu Hemalatha |
3000 |
-- |
|
Sudha Ravikumar and kumar |
2000 |
-- |
|
Kruti Vyapaar private limited |
2000 |
-- |
|
Serendipity Capital holdings Limited |
30550 |
-- |
|
Dev Raman / Dipti Raman |
6850 |
-- |
|
Sudeepto Deb / Moumita Deb |
5500 |
-- |
|
Samit Bhartiya |
2725 |
-- |
|
Ms. Priyanaka Kaul |
2725 |
-- |
|
Ashish N. Mehta / Ami A. Mehta |
6850 |
-- |
|
Raman Kumar |
2725 |
-- |
|
Jayavradhan Diwan |
5500 |
-- |
|
Nitin padmawar |
20000 |
-- |
|
Girish Kaiswal |
10000 |
-- |
|
Suprio Chatterji |
2000 |
-- |
|
Anuj Biyani |
2000 |
-- |
|
Mr. Kanchetti Surendra Kumar |
3000 |
-- |
|
Atim kabra |
16078 |
-- |
|
Guarav Acharya |
4400 |
3927 |
|
VVSN Raju |
4100 |
-- |
|
Anubhav Kushwaha |
3000 |
-- |
|
Jeetendra kulkarni |
20000 |
-- |
|
V. Radha |
5500 |
-- |
|
Anil Kulkarni |
500 |
-- |
|
Chaitanya Sardeshpande |
300 |
-- |
|
Ujwal Shankar Roa Lathkar |
3500 |
-- |
|
Ulhas Shankar Rao Latkar |
2500 |
-- |
|
Quanlity Pro Inc. |
703 |
-- |
|
Saira Inc. |
703 |
-- |
|
Sanjivani R. Waghmare |
882 |
-- |
|
Himali Kabra |
785 |
-- |
|
Rajen Premchand Haria |
3928 |
-- |
|
Kamal Mehta |
1571 |
-- |
|
Jayanthi lal Malde / Amish D Malde |
4115 |
-- |
|
CO-DO Limited |
7598 |
-- |
|
Umesh Parekh |
485 |
-- |
|
K. Narasimha Roa |
2667 |
-- |
|
Chetan Shah |
122 |
-- |
|
Arun Soni |
852 |
-- |
|
Atul Shah |
853 |
-- |
|
Satish Madira |
1063 |
-- |
|
Elara Capital PLC |
3443 |
-- |
|
Dinesh Mehta |
1418 |
-- |
|
Jeetendra Haria |
1750 |
-- |
|
Idea Entity Tech Solutions Private limited |
21126 |
-- |
|
Binita Ramesh Anandpara |
28168 |
-- |
|
Fundatech Education Private Limited |
985 |
-- |
|
Bluesky Dealares Private Limited |
1126 |
-- |
|
Econo Trade India Limited |
563 |
-- |
|
Arshad Shaikh |
700 |
-- |
|
Total |
844860 |
|
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
6.68 |
|
Bodies corporate |
5.98 |
|
Directors or relatives of Directors |
70.30 |
|
Other top fifty shareholders |
17.04 |
|
Total |
100.00 |
List of Allotees
As on 22.06.2011
|
Name of Allotee |
|
No. of Shares
Allotted |
|
Mitesh Majithia |
|
11904 |
As on 16.03.2011
|
Name of Allotee |
|
No. of Shares
Allotted |
|
R and A Corporate Consultants India Private Limited, |
|
309 |
As on 11.02.2011
|
Name of Allotee |
|
No. of Shares
Allotted |
|
Brand Equity Treaties Limited, Thane, |
|
12381 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an IT enable company offering customized and mobile based solution
to small medium and large scale retail companies across the global |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
ICICI Bank Limited |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kedarnath Shetkar Chartered Accountants Chartered Accountant |
|
Address : |
8-10-39, India Market, New Housing Society, near old Bus Stand, Bidar
– 585401, Karnataka, India |
|
PAN.: |
AWOPS3134M |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
823734 |
Equity Shares |
Rs.10/- each |
Rs.8.237 Millions |
|
3927 |
Equity Shares (Partly Paid Up) |
Rs.10/- each, Rs.5/- Paid up |
Rs.0.020 millions |
|
|
Total |
|
Rs.8.257 Millions |
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each, |
Rs.10.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
844860 |
Equity Shares |
Rs.10/- each |
Rs.8.468 Millions |
|
3927 |
Equity Shares (Partly Paid Up) |
Rs.10/- each, Rs.5/- Paid up |
Rs.0.020 Millions |
|
|
Total |
|
Rs.8.488 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 |
8.257 |
7.854 |
5.634 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
89.017 |
55.138 |
27.135 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
97.274 |
62.992 |
32.769 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.314 |
0.832 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.314 |
0.832 |
|
|
DEFERRED TAX LIABILITIES |
1.154 |
0.516 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
98.428 |
63.822 |
33.601 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.365 |
23.328 |
3.220 |
|
|
Capital work-in-progress |
3.906 |
3.906 |
13.190 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.338 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
2.652
|
3.845 |
0.989 |
|
|
Cash & Bank Balances |
0.633
|
0.539 |
1.307 |
|
|
Other Current Assets |
9.953
|
5.852 |
0.000 |
|
|
Loans & Advances |
1.307
|
0.590 |
6.502 |
|
Total
Current Assets |
14.545
|
10.826 |
8.798 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.070
|
2.256 |
0.556 |
|
|
Other Current Liabilities |
3.032
|
2.585 |
0.669 |
|
|
Provisions |
1.906
|
1.697 |
0.028 |
|
Total
Current Liabilities |
7.008
|
6.538 |
1.253 |
|
|
Net Current Assets |
7.537
|
4.288 |
7.545 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
66.620 |
31.962 |
9.646 |
|
|
|
|
|
|
|
|
TOTAL |
98.428 |
63.822 |
33.601 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7.494 |
4.833 |
1.642 |
|
|
|
Other Income |
0.023 |
0.032 |
0.080 |
|
|
|
TOTAL (A) |
7.517 |
4.865 |
1.722 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
13.041 |
6.174 |
1.460 |
|
|
|
Personnel Expenses |
18.860 |
11.439 |
6.134 |
|
|
|
Administrative Expenses |
5.652 |
5.156 |
3.225 |
|
|
|
Advertising Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
Investment Written Off |
0.469 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
38.022 |
22.769 |
10.819 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(30.505) |
(17.904) |
(9.097) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.213 |
0.185 |
0.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(30.718) |
(18.089) |
(9.193) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.340 |
3.491 |
0.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
(34.058) |
(21.580) |
(9.621) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.639 |
0.607 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-I) (J) |
(34.697) |
(22.187) |
(9.621) |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENT |
0.000 |
0.036 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(34.697) |
(22.223) |
(9.621) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
3.611 |
0.000 |
|
|
|
TOTAL EARNINGS |
3.611 |
0.000 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(461.58) |
(456.05) |
(558.71) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(454.47)
|
(446.51) |
(585.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(97.81)
|
(63.18) |
(80.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.35)
|
(0.34) |
(0.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.07
|
0.11 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
1.66 |
7.02 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS
The financial performance of the Company for the period ended March, 31
2010 is a reflection of strategies and initiatives that the Company took in the
past/prior period. The Sales of the Company increase considerably i.e., by 54.5
1% (approx) during the year. On the other hand, there has also been a
simultaneous increase in operate and personnel expenditure of the Company,
owing to which the loss of Company for the year has increased from Rs 22.223
Millions to Rs.34.697 Millions
However, Company entered into an alliance with Gatti limited, HDFC bank
for payment gate way and many big group to expand its operations, which in
result try to maximize the wealth share holders. Further by the end of this
year your Company is looking forward to generate substantial revenue.
FUTURE OUTLOOK
Company has entered an era of open competition, where fierce competitors
and accumulation of best- practices have had a significant impact on business.
We are in the search of right partner who can continuously work with us and can
get much faster and more in-depth insights on improving conversion rates,
attracting traffic, and adopting other best practices. In order to attract more
clients, we will have not only to increase the number of available services,
but to pay more attention to such elements like attractive design,
user-friendliness, appealing goods presentation etc.
The Company now is in the process to enter into alliance / Joint venture
with big groups like Google, aramex, HDFC bank etc. These alliances would as
well help the Company to generate more revenue and come out from the present
economic crisis.. With the intent , plans are being drawn to effectively
implement latest technology available so as to render best services to build up
a good brand image for the company which will itself increase the revenue of
the Company.
FIXED ASSETS
- Tangible
Assets
- Electrical
Fittings
- Office
Equipments
- Computer
Equipments
- Furniture and
Fixtures
- Vehicles
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.47.47 |
|
|
1 |
Rs.74.96 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--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 |
|
27 |
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.