MIRA
INFORM REPORT
|
Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
CYBERSTAR INFOCOM PRIVATE LIMITED (w.e.f. 06.09.2007) |
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Formerly Known
As : |
CYBERSTAR INFOCOM LIMITED |
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Registered
Office : |
Surya Chambers, 1st Floor, South Block, 124, Airport Road,
Murgesh Palya Bangalore – 560017, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.11.1999 |
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Com. Reg. No.: |
08-038995 |
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Capital
Investment / Paid-up Capital : |
Rs.0.793 Million |
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CIN No.: [Company Identification
No.] |
U72200KA1999PTC038995 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRC01703C |
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PAN No.: [Permanent Account No.] |
AABCC2931J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of IT peripherals, Networking products and components. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 490000 |
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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 a well 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 cam 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Mamta Rathi |
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Designation : |
Director |
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Contact No.: |
91-80-41266808 |
LOCATIONS
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Registered/ Branch Office : |
Surya Chambers, 1st Floor, South Block, 124, Airport Road, Murgesh
Palya Bangalore – 560017, Karnataka, India |
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Tel. No.: |
91-80-41266808 |
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Fax No.: |
91-80-41266801 |
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E-Mail : |
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Website : |
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Area : |
4500 sq. ft. |
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Location : |
Owned |
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Branch Offices : |
Located at:
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DIRECTORS
AS ON: 30.09.2010
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Name : |
Mr. Chinnareddy Prakash Reddy |
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Designation : |
Director |
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Qualification : |
CA |
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Name : |
Mr. Suresh Kandukuri |
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Designation : |
Director |
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Name : |
Mrs. Mamta Rathi |
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Designation : |
Director |
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Date of Birth/Age : |
Mechanical Engineering (Electronic and Computers) |
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Name : |
Mr. Rajkumar Rathi |
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Designation : |
Director |
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Qualification : |
MBA |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
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No. of Shares |
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Rajkumar Rathi |
|
79275 |
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Mamata Rathi |
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100 |
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Total |
|
79375 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of Directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of IT peripherals, Networking products and components |
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Terms : |
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Selling : |
Cash, Credit (30 days, 60 days,
90 days) |
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Purchasing : |
Cash, Credit (30 days, 60 days,
90 days) |
GENERAL INFORMATION
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Customers : |
·
End Users ·
OEM’s |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
Standard Chartered Bank, Koramangala, Bangalo
Standard Chartered Bank, 112, Serenity, Koramangala Industrial Area, 5th
Block, Koramangala, Bangalore – 560095, Karnataka, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ranga Rao and Associates Chartered Accountant |
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Address : |
No.39, 6th Cross, Wilson Garden, Bangalore – 560027,
Karnataka, India |
CAPITAL STRUCTURE
(AS ON 30.09.2010)
Authorised Capital: Rs.150.000 Millions
Issued, Subscribed & Paid-up Capital: Rs.150.000
Millions
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
79375 |
Equity Shares |
Rs.10/- each |
Rs.0.793 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.793 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
121.604 |
28.618 |
29.926 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
122.397 |
29.118 |
30.426 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
122.397 |
29.118 |
30.426 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.800 |
4.863 |
5.609 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.715 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
110.653
|
126.164 |
110.645 |
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Sundry Debtors |
205.951
|
109.208 |
126.484 |
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Cash & Bank Balances |
32.111
|
24.052 |
7.434 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
63.470
|
48.122 |
31.942 |
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Total
Current Assets |
412.185
|
307.546 |
276.505 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
259.639 |
264.481 |
231.712 |
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Other Current Liabilities |
12.989
|
18.810 |
20.6913 |
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Provisions |
20.960
|
0.000 |
0.000 |
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Total
Current Liabilities |
293.588
|
283.291 |
252.403 |
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Net Current Assets |
118.597
|
24.255 |
24.102 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
122.397 |
29.118 |
30.426 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Income |
1158.173 |
1254.511 |
1288.159 |
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Other Income |
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TOTAL |
1158.173 |
1254.511 |
1288.159 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
1122.775 |
1254.025 |
1271.247 |
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Interest |
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Depreciation |
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TOTAL |
1122.775 |
1254.025 |
1271.247 |
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PROFIT/ (LOSS)
BEFORE TAX |
35.398 |
0.486 |
16.912 |
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Less |
TAX |
12.701 |
(0.822) |
6.521 |
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PROFIT/ (LOSS)
AFTER TAX |
22.697 |
(1.308) |
10.391 |
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IMPORTS |
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Trading Goods |
662.729 |
750.831 |
NA |
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TOTAL IMPORTS |
662.729 |
750.831 |
NA |
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Earnings Per
Share (Rs.) |
285.94 |
16.47 |
130.91 |
|
Expected Sales (2010-2011): Rs.1300.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.95
|
(0.10) |
0.80 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.05
|
0.03 |
1.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.50
|
0.15 |
5.99 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.01 |
0.55 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.39
|
9.72 |
8.29 |
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Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.08 |
1.09 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND:
The Company is a
Private limited company under the Companies Act, 1956 ('the Act') on 9"'
November 1999. The registered office of the company is located at
BUSINESS OPERATIONS AND PROSPECTUS:
The company has
earned a total income of Rs.1158.173 millions for the year ended 31st
March 2010 and total expenditure is Rs.1122.775 millions for the said year and
thereby registering a Profit of Rs.22.697 millions after providing for deferred
tax, fringe Benefit Tax and Current year provision for tax, which has been
carry forward to balance sheet. The business outlook for the year 2010-2011 is
encouraging.
FORM: 8
|
Corporate
identity number of the company |
U72200KA1999PTC038995 |
|
Name of the
company |
CYBERSTAR INFOCOM
Private LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Surya Chambers,
1st Floor,South Block, 124, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Standard
Chartered Bank, 112, Serenity,
Koramangala Indl Area, 5th Block, Koramangala, Bangalore – 560095, Karnataka,
India |
|
Nature of
instrument creating charge |
Hypothecation
Agreement – Supplemental |
|
Date of
instrument Creating the charge |
19.08.2010 |
|
Amount secured by
the charge |
Rs.182.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest : Hypothecation
Agreement - Supplemental Terms of repayment : Credit Facility. Interest /
Commission - 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 the security given by the Borrower, as described in
Sr. no. 15 below. Other : Stocks and Book Debts
- Rs.140.000 millions and Interchangeability between WCDL, Business Credit,
Import LC and Bank Guarantee - Rs.42.000 millions |
|
Short particulars
of the property charged (Including location of the property) |
1. 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.
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. 2. All the present and future book debts, o/s
moneys receivables, claims and bills. 3. All movable fixed assets now or at any
time hereafter belonging to the Borrowers at the Borrowers factory or at any
other premises. |
|
Particulars of
the present modification |
By present
modification, the existing charge of Rs.52.790 millions enhanced to
Rs.182.000 millions |
FIXED ASSETS:
·
Furniture and Fixture
·
Office Equipments
·
Computers
·
Computer Software
·
Electrical Fitting
·
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.48.93 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
48 |
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.