MIRA
INFORM REPORT
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Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DIEBOLD INDIA PRIVATE LIMITED |
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Registered Office : |
2nd Floor, Silver Metropolis, Jay Coach Compound, 201/A Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
12.10.2001 |
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Com. Reg. No.: |
11-150281 |
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Capital Investment / Paid-up Capital : |
Rs.112.621 Millions |
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CIN No.: [Company
Identification No.] |
U72200MH2001PTC150281 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD09901D |
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PAN No.: [Permanent
Account No.] |
AABCD6330N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Variety of Self service solutions includes ATM, Check
Cashing Machine, Election Systems etc. |
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No. of Employees : |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 930000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of It is an established company having moderate track. There appears huge
accumulated losses recorded by the company. However, trade relations are
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Kemi |
|
Designation : |
Finance Manager |
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Contact No.: |
91-22-66774900 |
|
Date : |
06.08.2012 |
LOCATIONS
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Registered
Office / Corporate
Office : |
2nd Floor, Silver Metropolis, Jay Coach Compound, 201/A
Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
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Tel.
No.: |
91-22-6677 4900 / 6677 4906 |
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Fax
No.: |
91-22-6677 4901 |
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Email
: |
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Website
: |
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Location
: |
Owned |
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Services Centre : |
G-Corp Tech Park, 5th Floor, Kasarvadavli, Ghodebunder Road, Thane (West)-400615, Maharashtra, India |
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Tel No.: |
91-22-30969600 |
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Fax No.: |
91-22-30969966 |
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Software Development Centre : |
Unit 401, 4th Floor, Bldg. No. 16, Interface IT
Park, Malad (West) Mumbai – 400064, |
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Tel.
No.: |
91-22 – 66497500 |
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Fax
No.: |
91-22 – 66497600 |
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Factory : |
45/46, Tivim Industrial
Estate, Karaswada, Mapusa, |
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Tel.
No.: |
91-832-6655478 |
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Fax
No.: |
91-832-2258170 |
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Mobile
No. : |
91-9370888819 |
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Area
: |
10000 Sq. ft |
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Location
: |
Owned |
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Regional
Office : |
28/3 (Old 54/3) |
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Tel.
No.: |
91-44 - 2855 5196 / 2851 2416 |
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Fax No.: |
91-44 - 2855 0577 |
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Branches : |
Located at :
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DIRECTORS
AS ON : 16.09.2011
|
Name : |
Mr. Naresh Murali Hosangady |
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Designation : |
Director |
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Address : |
B – 2203, Chaitanya Towers, Appasaheb Marathe Marg, Prabhadevi, Mumbai
– 400025, Maharashtra, India |
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Date of Birth/Age : |
04.07.1960 |
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Qualification : |
MBA |
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Date of Appointment : |
14.02.2007 |
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DIN No.: |
01402981 |
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Name : |
Mr. James Chen |
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Designation : |
Director |
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Address : |
1-77 Forest Manor, No 588, Jin Feng Road, M W Hang, Shanghai – 201107,
China |
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Date of Birth/Age : |
05.05.1960 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
30.11.2001 |
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DIN No.: |
00545568 |
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Name : |
Mr. Kevin Ku |
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Designation : |
Director |
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Address : |
398, Xin Bei Road, # Green Villa, Shanghai – 201100, China |
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Date of Birth/Age : |
12.02.1960 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
31.01.2008 |
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DIN No.: |
02423837 |
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Name : |
Mr. Arvind Sanjay Dabir |
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Designation : |
Alternate Director |
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Address : |
22/T, 1 Kamat Kinara, P O Caranlaalem Miramar, Panji – 403002, Goa,
India |
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Date of Birth/Age : |
30.04.1964 |
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Qualification : |
MME, BE |
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Date of Appointment : |
27.11.2009 |
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DIN No.: |
02901950 |
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Name : |
Chad Frederic Hesse |
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Designation : |
Director |
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Address : |
30590 Jasmine CT, North Olmsted, OH 440704799, USA |
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Date of Birth/Age : |
01.04.1972 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
08.09.2011 |
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DIN No.: |
03565371 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON : 16.09.2011
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Names of Shareholders |
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No. of Shares |
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Diebold, Incorporated, |
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589358 |
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5000 |
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Diebold Switzerland Holding Company, |
|
10667708 |
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TOTAL |
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11262066 |
AS ON : 16.09.2011
Equity
Share Breakup
|
Category |
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Percentage of
Holding |
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Foreign holdings [Foreign institutional investors, Foreign
Companies, Foreign Financial Institutions, Non-resident Indian or Overseas
corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Variety of Self service solutions includes ATM, Check
Cashing Machine, Election Systems etc |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS : 31.03.2010
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PARTICULARS |
INSTALLED CAPACITY |
PRODUCTION |
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Manufacturing of ATM |
6400 |
5697 |
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NOTE : * The Installed Capacity is as
certified by the management.
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B. S. R and Company Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apollo Mills |
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PAN No.: |
AAAFB9852F |
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Ultimate Holding Company : |
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Holding Company : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
11262066 |
Equity Shares |
Rs.10/- each |
Rs.112.621
Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
112.621 |
1.100 |
1.100 |
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2] Share Application Money |
0.000 |
4.865 |
4.865 |
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3] Reserves & Surplus |
149.348 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(30.002) |
(79.398) |
(105.939) |
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NETWORTH |
231.967 |
(73.433) |
(99.974) |
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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 |
140.000 |
340.000 |
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TOTAL BORROWING |
0.000 |
140.000 |
340.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
231.967 |
66.567 |
240.026 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
74.344 |
78.714 |
68.736 |
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Capital work-in-progress |
3.534 |
0.575 |
7.992 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
5.964 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
134.351
|
153.632
|
170.106 |
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Sundry Debtors |
374.536
|
685.100
|
631.188 |
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Cash & Bank Balances |
2.231
|
44.326
|
12.212 |
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Other Current Assets |
0.154
|
0.124
|
0.000 |
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Loans & Advances |
171.992
|
143.172
|
122.928 |
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Total
Current Assets |
683.264
|
1026.354
|
936.434 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
463.672 |
1000.781 |
712.262 |
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Other Current Liabilities |
6.229
|
7.197
|
42.948 |
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Provisions |
65.238
|
31.098
|
17.926 |
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Total
Current Liabilities |
535.139
|
1039.076
|
773.136 |
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Net Current Assets |
148.125
|
(12.722)
|
163.298 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
231.967 |
66.567 |
240.026 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
|
1231.249 |
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Other Income |
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TOTAL |
1218.844 |
1569.255 |
1231.249 |
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Less |
EXPENSES |
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Administrative Expenses |
1122.230 |
1517.705 |
1298.948 |
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Advertising Expenses |
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Interest |
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TOTAL |
1122.230 |
1517.702 |
1298.948 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
96.614 |
51.553 |
(67.699) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
17.182 |
12.012 |
9.081 |
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PROFIT BEFORE
TAX |
79.432 |
39.541 |
(76.780) |
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Less |
TAX |
30.036 |
13.000 |
0.450 |
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PROFIT AFTER TAX
|
49.396 |
26.541 |
(77.230) |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
2.221 |
0.615 |
1.363 |
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Re-imbursement expenses |
0.000 |
0.168 |
0.000 |
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TOTAL EARNINGS |
2.221 |
0.783 |
1.363 |
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IMPORTS |
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Raw Materials |
NA |
759.338 |
774.582 |
|
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TOTAL IMPORTS |
NA |
759.338 |
774.582 |
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Earnings Per
Share (Rs.) |
4.39 |
241.27 |
(702.09) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.05
|
1.69
|
(6.27) |
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Net Profit Margin (PBT/Sales) |
(%) |
6.52
|
2.51
|
(6.23) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.48
|
3.57
|
(7.63) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
(0.53)
|
(0.73) |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.31
|
(16.05)
|
(11.13) |
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Current Ratio (Current Asset/Current Liability) |
|
1.28
|
0.98
|
1.21 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Due Small Micro Enterprises |
0.000 |
0.000 |
0.000 |
|
Dues to others |
463.672 |
1000.781 |
712.262 |
|
Total |
463.672 |
1000.781 |
712.262 |
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Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of Director, if
available |
No |
|
32] |
Passport No of Director,
if available |
No |
|
33] |
Voter ID No of Director,
if available |
No |
Background:
Subject a subsidiary of Diehold Incorporated (the ‘Parent company’) was
incorporated on 12 October 2001. Subject is primarily engaged in manufacturing
(w.e.f. August 2005) of Automated Teller Machines (‘ATMs’) and networked cash dispensers
(each including both hardware and software components). Associated components.
Software and other IT sector goods and services in
Contingent
Liability:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Bank Guarantees |
0.500 |
0.500 |
|
Disputed Income Tax Dues |
40.270 |
8.214 |
Fixed Assets:
- Building
- Plant and
Machinery
- Office
Equipments
- Computers
- Furniture and
Fixtures
- Vehicles
- Computer
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.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
3 |
|
--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 |
YES |
|
--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.