|
Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CAARMA INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kapil Complex, 1st Floor, Survey
Number 82/1, 1/4, Baner, Pune-411045, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.03.2008 |
|
|
|
|
Com. Reg. No.: |
11-142066 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN2008FTC142066 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Sofware Services |
|
|
|
|
No. of Employees
: |
32 (Approximately) |
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 14000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Bramasol Inc. It is an established company having moderated track record. The latest
financial is missing from the government department However, from the previous year record the company seems to be having
satisfactory track record. Trade relations are reported to be fair. Business
is active. Payment terms are unknown. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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 (GENERAL DETAILS)
|
Name : |
Ms. Jaya |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-40719000 |
|
Date : |
29.11.2012 |
LOCATIONS
|
Registered Office : |
Kapil Complex, 1st Floor, Survey
Number 82/1, 1/4, Baner, Pune-411045, Maharashtra, India |
|
Tel. No.: |
91-20-40719009 |
|
Mob.No.: |
91-9850601409 (Mr. Jitendra Dhande) |
|
Fax No.: |
91-20-40719225 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mayur Manharlal Shah |
|
Designation : |
Director |
|
Address : |
360, Lower Vintners, CIR, Fermount-94539, USA |
|
Date of Birth/Age : |
03.01.1956 |
|
Date of Appointment : |
14.03.2008 |
|
DIN No.: |
01789258 |
|
|
|
|
Name : |
Prashant Dhirajlal Parekh |
|
Designation : |
Director |
|
Address : |
44249, Hunter PL, Fermount-94539, USA |
|
Date of Birth/Age : |
13.10.1958 |
|
Date of Appointment : |
29.08.2010 |
|
DIN No.: |
02985522 |
|
|
|
|
Name : |
Martinho Paul Ferrao |
|
Designation : |
Director |
|
Address : |
501-B, Sebestian Apartments, Kevani, Jogeshwari [West],
Mumbai-400102, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1972 |
|
Date of Appointment : |
14.03.2008 |
|
DIN No.: |
00023462 |
|
|
|
|
Name : |
Mr. David Feller |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jonothan Bell |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Jaya |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Mr. Jitendra Dhande |
|
Designation : |
Senior Consultant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Caarma Corporation, Fremont |
|
9999 |
|
Mayur Shah |
|
1 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Sofware Services |
GENERAL INFORMATION
|
Customers : |
Corporate |
|
|
|
|
No. of Employees : |
32 (Approximately) |
|
|
|
|
Bankers : |
·
ICICI Bank Pune Branch, Maharashtra, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pankaj R Mandhane and
Company Chartered Accountants |
|
Address : |
8A, Dnyanda, Near Dnyanprabodhini
School, Sadashiv Peth, Pune- 411030, Maharashtra,
India |
|
Tel. No.: |
91-20-24433130 / 24497554 |
|
E-Mail : |
|
|
PAN No.: |
AIGPB0410K |
|
|
|
|
Parent Company: |
Bramasol Inc., USA |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
3.524 |
2.058 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.624 |
2.158 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.624 |
2.158 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.309 |
1.235 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000
|
0.000 |
|
|
Sundry Debtors |
|
1.526
|
0.264 |
|
|
Cash & Bank Balances |
|
1.896
|
0.806 |
|
|
Other Current Assets |
|
0.500
|
0.013 |
|
|
Loans & Advances |
|
1.062
|
0.779 |
|
Total
Current Assets |
|
4.984
|
1.862 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.029
|
0.000 |
|
|
Other Current Liabilities |
|
1.393
|
0.084 |
|
|
Provisions |
|
1.247
|
0.855 |
|
Total
Current Liabilities |
|
2.669
|
0.939 |
|
|
Net Current Assets |
|
2.315
|
0.923 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.624 |
2.158 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
20.508 |
11.640 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
20.508 |
11.640 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
16.704 |
9.337 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
16.704 |
9.337 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.804 |
2.303 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
0.568 |
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
3.236 |
2.067 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.966 |
0.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
2.270 |
2.058 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
227.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
11.07 |
17.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
51.42 |
66.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
|
0.89 |
0.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net worth) |
|
|
0.74 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.87 |
1.98 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
|
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
0.029 |
0.000 |
|
|
|
|
|
|
Total |
|
0.029 |
0.000 |
|
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 |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last two years |
Yes |
|
12] |
Profitability
for last two 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 |
No |
|
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 |
No |
|
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:
The registered office of the company has been shifted from #301, Eden
Park, Vithal Mallya Road,
Bangalore-560027, Karnataka, India to the present address w.e.f.
30.11.2011
OPERATIONS:
The sales of the company rose from Rs. 11.640
in the previous year to Rs. 20.508 millions in the
year. The Net profit of the company however rose from Rs.
2.058 millions to Rs. 2.270 millions which was
largely attributed to the higher employee cost which had an impact on the
overall profitability of the company. It is expected that the company’s
operations will continue to grow. Efforts are also being made for obtaining
other sources to meet the future requirements.
FIXED ASSETS:
·
Computer and Printers
·
Furniture and Fixture
·
Laptop
·
Projector
·
MS Office License
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 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.54.53 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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.