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Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
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Name : |
MACRONET PRIVATE LIMITED |
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Formerly Known
As : |
MACRONET INFRASTRUCTURE PRIVATE LIMITED RELIANCE INFOCOM PRIVATE LIMITED |
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Registered
Office : |
Manek Mahal, Flat No. 19 and 20, 6th Floor, 90 Veer Nariman
Road, Churchgate, Mumbai – 400020, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.06.2000 |
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Com. Reg. No.: |
127506 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U99999MH2000PTC127506 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM32298A |
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PAN No.: [Permanent Account No.] |
AACCM4463E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in business of procurement and
distribution of handsets and other telecom related equipments. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD |
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Status : |
Undetermined |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
Site visit was conducted our executive visited on the company registered
office address but on that address we found company “Reliance Communication
Limited” and not the subject company. Also they don’t have any information
about the subject company. No further information could be made available. From the available company financial the company seems to be in weak
position. There appears huge accumulated losses recorded by the company. The company can be considered for business dealings on a safe and
secured 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Unable to contact the company
LOCATIONS
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Registered Office : |
Manek Mahal, Flat No. 19 and 20, 6th Floor, 90 Veer Nariman
Road, Churchgate, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-30386286 |
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Fax No.: |
91-22-30376622 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Sunil Vinodrai Doshi |
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Designation : |
Director |
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Address : |
602, Nilanjana Marve Road, Malad (West), Mumbai – 400064, Maharashtra,
India |
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Date of Birth/Age : |
27.03.1959 |
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Date of Appointment : |
20.12.2006 |
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DIN No.: |
00031949 |
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Name : |
Mr. Nilesh Ramanlal Doshi |
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Designation : |
Director |
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Address : |
84, Dhuru Mahal Marine Drive F Road, Mumbai – 400002, Maharashtra,
India |
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Date of Birth/Age : |
28.12.1953 |
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Date of Appointment : |
20.12.2006 |
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DIN No.: |
00249715 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Reliance Communications Infrastructure Limited, India |
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1600 |
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Netizen India Private Limited, India |
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500 |
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Reliane Communications West Bengal Private Limited,
India |
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1975 |
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Reliane Communications Haryana Private Limited, India |
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1975 |
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Reliane Communications Tamil Nadu Private Limited,
India |
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1975 |
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Punjab Cybernet Private Limited, India |
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1975 |
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Total |
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10000 |
AS ON 30.09.2011
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Category |
Percentage |
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Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in business of procurement and
distribution of handsets and other telecom related equipments. |
PRODUCTION STATUS AS ON
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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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 : |
M. S. Sethi and Associates Chartered Accountant |
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Address : |
191 R Cavel Cross Lane No. 9, Second Floor Dr. Viegas Street, Kalba
Devi, Mumbai – 400002, Maharashtra, India |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(13743.743) |
(13467.582) |
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NETWORTH |
(13743.643) |
(13467.482) |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
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2] Unsecured Loans |
16723.020 |
16723.020 |
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TOTAL BORROWING |
16723.020 |
16723.020 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
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TOTAL |
2979.377 |
3255.538 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
358.906 |
419.949 |
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Capital work-in-progress |
0.000 |
167.826 |
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INVESTMENT |
4.513 |
4.529 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1257.909
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419.002 |
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Sundry Debtors |
103.814
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1354.194 |
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Cash & Bank Balances |
5.572
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19.648 |
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Other Current Assets |
0.089
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0.228 |
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Loans & Advances |
2936.412
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3082.204 |
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Total
Current Assets |
4303.796
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4875.276 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
679.317
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1035.991 |
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Other Current Liabilities |
1008.521
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1176.042 |
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Provisions |
0.000
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0.009 |
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Total
Current Liabilities |
1687.838
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2212.042 |
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Net Current Assets |
2615.958
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2663.234 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
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TOTAL |
2979.377 |
3255.538 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
666.853 |
6151.043 |
11670.415 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
943.014 |
6354.388 |
17241.977 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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Less |
FINANCIAL
EXPENSES (D) |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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PROFIT BEFORE
TAX (E-F) (G) |
(276.161) |
(203.345) |
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Less |
TAX (I) |
0.000 |
0.000 |
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PROFIT AFTER TAX
(G-I) (J) |
(276.161) |
(203.345) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
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Dividend |
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Tax on Dividend |
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BALANCE CARRIED
TO THE B/S |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
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Commission Earnings |
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Other Earnings |
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TOTAL EARNINGS |
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IMPORTS |
102.122 |
3319.352 |
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Raw Materials |
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Stores & Spares |
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Capital Goods |
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Others |
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TOTAL IMPORTS |
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Earnings Per
Share (Rs.) |
(27616) |
(20335) |
-- |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
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Net Profit Margin (PBT/Sales) |
(%) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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Return on Investment (ROI) (PBT/Networth) |
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Debt Equity Ratio (Total Liability/Networth) |
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Current Ratio (Current Asset/Current Liability) |
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LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
PARTICULARS
|
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Sundry Creditors
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Micro, Small and Medium Enterprises |
41.515 |
12.652 |
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Others |
637.802 |
1023.339 |
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NOTE:
The registered office address of the company
has been shifted from "H" Block 1st Fl., Dhirubhai Ambani Knowledge
City, Koparkhairane, Navi Mumbai 400710, Maharashtra, India to present address
w.e.f. 16.04.2007
CONTINGENT
LIABILITIES:
a) Disputed Liabilities in appeal in respect of Sales Tax
(This represent demand received from Sales Tax Authority, which is pending
before the Appellate Authority and stay orders granted against the demand. The
Company is confident that the claim will be success fully contested. The
Company has deposited Rs. 0.471 Million (Rs.1.120 Millions) against the
demand.)
FIXED ASSETS:
Plant and Machinery
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
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Indian Rupees |
|
US Dollar |
1 |
Rs. |
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|
1 |
Rs. |
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Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
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Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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.