MIRA INFORM REPORT

 

 

Report Date :

05.12.2012

 

IDENTIFICATION DETAILS

 

Name :

B T INFOSYS PRIVATE LIMITED

 

 

Registered Office :

B - 38, Solarisi, Opposite Larsen and Toubro Gate No.6, Saki Vihar Road, Mumbai – 400 072, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

22.07.1999

 

 

Com. Reg. No.:

11-120951

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 million

 

 

CIN No.:

[Company Identification No.]

U72300MH1999PTC120951

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMB16007F

 

 

PAN No.:

[Permanent Account No.]

AABCB5235E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Dealer of Computer Peripherals.

 

 

No. of Employees :

75 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (36)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 42000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track. The latest financial is missing from Government Department.

 

However, from the previous year record company seems to be performing well. The company has no external borrowing. Financially company seems good. Trade relations are reported to be fair. Business is active. Payments are reported to be unknown.

 

The company can be considered for business dealings with slight 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

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

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

 

Name :

Mr. Mahesh

Designation :

HR and Admin Head

Contact No.:

91-22-40052109

Date :

04.12.2012

 

 

LOCATIONS

 

Registered Office :

B - 38, Solarisi, Opposite Larsen and Toubro Gate No.6, Saki Vihar Road, Mumbai – 400 072, Maharashtra, India

Tel. No.:

91-22-40052000 (Riverbed and Enterprises enquires)

91-22-40052109 (Home Segment / SMB Sales enquires)

91-22-42112026 (For Service enquires)

Fax No.:

91-22-40052102

E-Mail :

btupe@btinfosys.com

info@btinfosys.in

bts@bom5.vsnl.net.in

For Riverbed and Enterprises enquires: btupe@btinfosys.in

For Home Segment / SMB Sales enquires: sales@btinfosys.in

For Service enquires: services@btinfosys.in

Website :

www.btinfosys.in

Area :

1500 sq ft

Location :

Owned

 

 

Corporate Office :

D-153/ 154, Solaris 1, Opposite Larsen and Toubro Gate No.6, Saki Vihar Road, Mumbai – 400 072, Maharashtra, India

Tel. No.:

91-22-42112000 (Board Line)

Fax No.:

91-22-40052105

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mrs. Vandana Balasaheb Tupe

Designation :

Director

Address :

1402, Heritage Building, Hiranandani, Powai, Mumbai – 400 076, Maharashtra, India 

Date of Birth/Age :

26.04.1970

Date of Appointment :

22.07.1999

DIN No.:

00682036

 

 

Name :

Mr. Balasaheb Shankar Tupe

Designation :

Director

Address :

1402, Heritage Building, Hiranandani, Powai, Mumbai – 400 076, Maharashtra, India 

Date of Birth/Age :

01.06.1968

Date of Appointment :

22.07.1999

DIN No.:

02533970

 

 

KEY EXECUTIVES

 

Name :

Mr. Mahesh

Designation :

HR and Admin Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

 

Balasaheb Shankar Tupe

 

5000

Vandana Balasaheb Tupe

 

5000

Total

 

10000

 

As on 30.09.2011

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Dealer of Computer Peripherals.

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

v      Dell India Private Limited

v      DHL Express Private Limited

v      Ingram Micro India Limited

v      K.C. Enterprises

v      Riverbed Technologies

v      Venus Cargo and Logistic Private Limited

v      S.K. Loonker and Company

v      Pooja Traders

v      J. Gandhi and Company

v      Venus Express

v      Arihant Infosys

 

 

Customers :

End Users

 

v      Alabbar Architechtural Metal and Glass Private Limited

v      Coastel Gujrat Power Limited

v      Irevna Limited (A Division of Crisil Limited)

v      Larsen and Toubro Limited HED

v      Larsen and Toubro Limited E&C Division

v      Larsen and Toubro Limited HED-Talegaon

v      Larsen and Toubro Limited – PGM and HO Group

v      L & T Chiyoda Limited

v      L & T Finance Limited

v      Popular Infotech Limited

v      Watson Pharma Private Limited

v      Sterling 

 

 

No. of Employees :

75 (Approximately)

 

 

Bankers :

v      HDFC Bank Limited, Shuras Centre, Andheri

v      Canara Bank, Saki Vihar Branch

 

 

Facilities :

Cash Credit – Rs.15.000 millions (From Canara Bank)

 

Unsecured Loans

31.03.2011

(Rs. in Millions)

31.03.2010

(Rs. in Millions)

From Directors and Relatives

0.000

0.024

Total

0.000

0.024

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S.K. Loonker and Company

Chartered Accountants

Address :

11/13, Botawala Building, 2nd Floor, Room No.5, Horniman Circle, Fort, Mumbai – 400 023, Maharashtra, India

Tel. No.:

91-22-22673313

Tele Fax No.:

91-22-22612838

E-Mail :

skl@skloonker.com

Income-tax PAN of auditor or auditor's firm :

AABPL1875D

 

 

CAPITAL STRUCTURE

 

As on 29.09.2012

 

Authorised Capital : Rs.20.000 millions

 

Issued, Subscribed & Paid-up Capital : Rs.0.100 million

 

As on 30.09.2011

 

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

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.100

0.100

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

10.495

6.532

3.980

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

10.595

6.632

4.080

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.024

0.524

TOTAL BORROWING

0.000

0.024

0.524

DEFERRED TAX LIABILITIES

0.122

0.041

0.045

 

 

 

 

TOTAL

10.717

6.697

4.649

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

2.038

0.680

0.762

Capital work-in-progress

0.000

0.000

0.000

 

 

 
 

INVESTMENT

0.488

0.117

0.366

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.221

0.259
0.358

 

Sundry Debtors
58.373

22.338
9.918

 

Cash & Bank Balances
1.356

3.400
0.290

 

Other Current Assets
0.000

0.000
0.000

 

Loans, Advances & Deposits

1.702

1.455
2.617

Total Current Assets
61.652

27.452

13.183

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
49.175

18.507
7.376

 

Other Current Liabilities
0.000

0.000
0.000

 

Provisions
4.286

3.045
2.286

Total Current Liabilities
53.461

21.552

9.662

Net Current Assets
8.191

5.900
3.521

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

10.717

6.697

4.649

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

Sales and Service Income

92.884

52.228

80.259

 

 

Other Income

2.644

5.382

 

 

 

TOTAL                                    

95.528

57.610

80.259

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

91.342

54.407

76.535

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

91.342

54.407

76.535

 

 

 

 

 

 

PROFIT BEFORE TAX

4.186

3.203

3.724

 

 

 

 

 

Less

TAX                                                     

0.223

0.651

1.010

 

 

 

 

 

 

PROFIT AFTER TAX

3.963

2.552

2.714

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

6.532

3.980

NA

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

10.495

6.532

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

396.30

255.20

271.40

 

 

Particulars

 

 

 

31.03.2012

Sales Turnover (Approximately)

 

 

160.000

 

 

 

 

 

Expected Sales (2012-2013): Rs.200.000 millions

 

The above information has been parted by Mr. Mahesh (HR and Admin Head) 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
4.15

4.43
3.38

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
4.51

6.13

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
6.57

11.39
26.70

 

 
 

 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.40

0.48
0.91

 

 
 

 
 

Debt Equity Ratio

(Total Liability/Networth)

 
5.05

3.25
2.50

 

 
 

 
 

Current Ratio

(Current Asset/Current Liability)

 
1.15

1.27
1.36

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Sundry Creditors:

 

Particulars

 

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

31.03.2009

(Rs. in millions)

Sundry Creditors

 

 

 

- Creditors for goods

47.693

17.754

4.309

- Creditors for expenses

1.482

0.753

3.067

Total

49.175

18.507

7.376

 

Details of Sundry Creditors: (Partial Details)

 

Particulars

 

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

31.03.2009

(Rs. in millions)

Sundry Creditors

 

 

 

- Creditors for goods

 

 

 

Dell India Private Limited

0.867

5.584

2.494

DHL Express Private Limited

0.043

0.043

0.018

Ingram Micro India Limited

0.311

0.065

0.065

K.C. Enterprises

0.003

0.006

0.010

Riverbed Technologies

2.197

2.392

0.000

Venus Cargo and Logistic Private Limited

0.002

0.025

0.014

- Creditors for expenses

 

 

 

Audit Fees Payable

0.020

0.039

0.020

Electricity Charges Payable

0.017

0.025

0.004

Directors Remuneration Payable

0.080

0.130

0.000

Telephone Expenses Payable

0.016

0.018

0.026

Profession Tax Payable

0.133

0.106

0.000

Salary Payable

0.632

0.408

0.455

 

 

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

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

Yes

15) Capital in the business

Yes

16) Details of sister concerns

No

17) Major suppliers

Yes

18) Major customers

Yes

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

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

 

 


OPERATIONS:

 

The directors have informed that though the turnover of the company has increased due to high overhead cost, in result thereof the margin of the company has decreased and the company could not earn desired profit for this fiscal.

 

TRADE REFERENCES:

 

v      Larsen and Toubro Limited

v      Riverbed Technologies

 

FIXED ASSETS:

 

v      Air Conditioner

v      Computers and Laptop

v      EPABX

v      Office Equipments 

v      Furniture and Fixtures

v      Office Premises

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.54.94

UK Pound

1

Rs.88.42

Euro

1

Rs.71.71 

 

 

INFORMATION DETAILS

 

Information Gathered by :

PJA

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--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

 

36

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.