|
Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
VASCO SCIENTIFICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Vasco House”, Survey No.210, Ayodhya Centre, Kandla (V), Near
Kompally, Gundla Pochampally-500014, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.05.1997 |
|
|
|
|
Com. Reg. No.: |
01-027014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85199AP1997PTC027014 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV01045C |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trader of Chemicals |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 76000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
“Vasco House”, Survey No.210, Ayodhya Centre, Kandla (V), Near
Kompally, Gundla Pochampally-500014, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23792254 (4 Lines) |
|
Fax No.: |
91-40-23792255 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 14.09.2011
|
Name : |
Mr. Arangath Vinod Kumar Vasu |
|
Designation : |
Director |
|
Address : |
1-2-81, Kakatiya Nagar, Hassigudam Hyderabad-500007, Andhra Pradesh,
India |
|
Date of Appointment : |
01.05.2007 |
|
DIN No.: |
00900802 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U72200KL2003PTC016271 |
AROUBA
TECHNOLOGIES PRIVATE LIMITED |
Director |
04/07/2003 |
04/07/2003 |
Active |
NO |
|
2 |
U85199AP1997PTC027014 |
VASCO
SCIENTIFICS PRIVATE LIMITED |
Director |
01/05/2007 |
01/05/2007 |
Active |
NO |
|
Name : |
Mr. Manthryil Krishna Menonvasu |
|
Designation : |
Managing Director |
|
Address : |
1-2-81, Kakatiya Nagar, Hassigudam Hyderabad-500007, Andhra Pradesh,
India |
|
Date of Appointment : |
01.05.2007 |
|
DIN No.: |
00900866 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U74210AP1997PTC027013 |
VASCO
ENVIRONMENTAL INDIA PRIVATE LIMITED |
Managing
director |
01/05/1997 |
01/05/1997 |
Active |
|
|
2 |
U72200KL2003PTC016271 |
AROUBA
TECHNOLOGIES PRIVATE LIMITED |
Director |
04/07/2003 |
04/07/2003 |
Active |
NO |
|
3 |
U85199AP1997PTC027014 |
VASCO
SCIENTIFICS PRIVATE LIMITED |
Managing
director |
01/05/2007 |
01/05/2007 |
Active |
NO |
|
Name : |
Ms. Susheela V Menon |
|
Designation : |
Director |
|
Address : |
1-2-81, Kakatiya Nagar, Hassigudam Hyderabad-500007, Andhra Pradesh,
India |
|
|
|
|
Name : |
Mr. A V Vishwanath |
|
Designation : |
Director |
|
Address : |
Sarovaram VI/916, B.M.C.P.O. Thrikkakara, Kochi-682021, Kerala, India |
|
|
|
|
Name : |
Ms. Vijaya Kannan |
|
Designation : |
Director |
|
Address : |
1-2-81, Kakatiya Nagar, Hassigudam Hyderabad-500007, Andhra Pradesh,
India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.09.2011
|
Names of Shareholders |
No. of Shares |
|
M K Vasu Menon |
182000 |
|
Susheela V Menon |
175000 |
|
A V Vinod Kumar |
154000 |
|
A V Vishwanath |
154000 |
|
Vijaya Kannan |
35000 |
|
TOTAL
|
700000 |
AS ON 14.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Chemicals |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
ICICI Bank ·
HDFC Bank |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G. K. Datar and Company Chartered Accountant |
|
Address : |
3-3-54/4/A, 1st Floor, Opposite Bank of India, Kachiguda,
Hyderabad-500027, Andhra Pradesh, India |
|
Tel. No.: |
91-40-24652946 |
|
PAN No.: |
APKPD6160S |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs. 7.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs. 7.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.000 |
7.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.144 |
6.602 |
9.572 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.144 |
13.602 |
10.572 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.445 |
20.206 |
16.972 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
22.445 |
20.206 |
16.972 |
|
|
DEFERRED TAX LIABILITIES |
0.047 |
0.047 |
0.047 |
|
|
|
|
|
|
|
|
TOTAL |
41.636 |
33.855 |
27.591 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.822 |
5.519 |
5.774 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.363
|
4.046 |
4.016 |
|
|
Sundry Debtors |
57.817
|
57.539 |
43.719 |
|
|
Cash & Bank Balances |
0.146
|
0.056 |
0.061 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.532
|
8.365 |
5.598 |
|
Total
Current Assets |
77.858
|
70.006 |
53.394 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
37.601
|
39.173 |
28.739 |
|
|
Other Current Liabilities |
0.281
|
0.313 |
1.622 |
|
|
Provisions |
4.162
|
2.184 |
1.216 |
|
Total
Current Liabilities |
42.044
|
41.670 |
31.577 |
|
|
Net Current Assets |
35.814
|
28.336 |
21.817 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.636 |
33.855 |
27.591 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
179.783 |
158.916 |
150.810 |
|
|
|
Interest |
1.871 |
0.363 |
0.183 |
|
|
|
TOTAL |
181.654 |
159.279 |
150.993 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
152.510 |
134.311 |
129.642 |
|
|
|
Salaries |
8.985 |
7.662 |
6.450 |
|
|
|
Establishment Charges |
11.869 |
11.493 |
10.119 |
|
|
|
TOTAL |
173.364 |
153.466 |
146.211 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.290 |
5.813 |
4.782 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.448 |
1.383 |
1.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.842 |
4.430 |
3.697 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.300 |
1.400 |
1.249 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.542 |
3.030 |
2.448 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.542 |
3.030 |
2.448 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
79.17 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.05
|
1.90 |
1.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
2.79 |
2.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.37
|
5.87 |
6.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.33 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.37
|
4.55 |
4.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85
|
1.68 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
NOTE
Registered office has been shifted from Vasco House, ‘M’Amar Jyothi
Colony, New Bowenapally, Secunderabad-500011, Andhra Pradesh, India to the present
address w.e.f. 03.02.2009.
REVIEW
OF OPERATIONS FOR THE YEAR 2010-11.
The
Company for the financial year 2010-11 has made sales of Rs. 181.654 Millions compared with the
previous year figure of Rs 159.279
Millions there is a increase in the sales for the present financial year
due to the endeavors of the Board to increase the revenue which paved the way
for the increase. The Company for the financial year 2010-11 has made a profit
of Rs 7.842 Millions compared
with the previous year figure of Rs. 4.429
Millions the increase in profit compared with the previous year figures,
is due to the higher cost effective initiations taken by the Board. The Board
has envisaged better utilization of the resources. The company has during the
year added prestigious clients that have increased the profitability.
FUTURE OUTLOOK
The company has
during the year excelled its performance on better tapping of its resources the
Board envisage that during the ensuing financial years the repute and quality
of the products distributed by the company would add more clients to its
already impressive list.
FIXED ASSETS
·
Furniture and Fixtures
·
Inventories
·
Vehicles
·
Security Systems
·
Building
·
Electrical
·
Office Equipment
·
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 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. 55.47 |
|
|
1 |
Rs. 86.60 |
|
Euro |
1 |
Rs. 68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.