|
Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MICRO HARD IT SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Lower Ground,
LG-1/2, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.03.2010 |
|
|
|
|
Com. Reg. No.: |
04-059891 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.300
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900GJ2010PTC059891 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service provider and Trader of Computer Peripherals. |
|
|
|
|
No. of Employees
: |
30 (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 2000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of partnership concern started in the year 1997
with the name “Micro Hard Computers”. And later in the year March 2010 it got
converted into private limited. It is having moderate track. Latest financial is missing from
Government Department. However, 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 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
|
Name : |
Mr. Vishnukumar Bahechardas Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9824751654 |
|
Date : |
08.12.2012 |
LOCATIONS
|
Registered Office : |
Lower Ground,
LG-1/2, |
|
Tel. No.: |
91-2637-232160 |
|
Mobile No.: |
91-9824751654 (Mr. Vishnu) |
|
Fax No.: |
91-2637-248859 |
|
E-Mail : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
320, Golden Colony, Near Telephone Bhuvan, Falsawadi, |
|
Tel. No.: |
91-261-2455280 |
|
E-Mail : |
DIRECTORS
As on 15.09.2011
|
Name : |
Mr. Vishnukumar Bahechardas Patel |
|
Designation : |
Director |
|
Address : |
15, |
|
Date of Birth/Age : |
30 03 1965 |
|
Qualification : |
B.Com, Diploma in Computer Engineering |
|
Date of Appointment : |
16.03.2010 |
|
DIN No.: |
02933729 |
|
|
|
|
Name : |
Mr. Bhaveshbhai Govardhan Rathod |
|
Designation : |
Director |
|
Address : |
12-13, |
|
Date of Birth/Age : |
24.08.1972 |
|
Qualification : |
B.Com, Diploma in Computer Engineering |
|
Date of Appointment : |
16.03.2010 |
|
DIN No.: |
02933722 |
|
|
|
|
Name : |
Mrs. Madhubahen Vishnubhai Patel |
|
Designation : |
Director |
|
Address : |
15, |
|
Date of Birth/Age : |
17.12.1962 |
|
Date of Appointment : |
16.03.2010 |
|
DIN No.: |
02933745 |
|
|
|
|
Name : |
Mrs. Rohiniben Bhaveshbhai Rathod |
|
Designation : |
Director |
|
Address : |
12-13, |
|
Date of Birth/Age : |
18.06.1978 |
|
Date of Appointment : |
16.03.2010 |
|
DIN No.: |
02933755 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vishnukumar Bahechardas Patel |
|
5000 |
|
Shaileshkumar Jagdishchandra Dhimar |
|
5000 |
|
Rohiniben Bhaveshbhai Rathod |
|
5000 |
|
Madhubahen Vishnubhai Patel |
|
2500 |
|
Jigna Shailesh Dhimar |
|
2500 |
|
Bhaveshbhai Govardhan Rathod |
|
10000 |
|
Total |
|
30000 |
As on 15.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider and Trader of Computer Peripherals. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
v Ingram Micro India Limited v
Redington India
Limited v
Advance
Computers v
Alak Enterprise v
Care Office
Equipment Limited v
Fortune
Computers v
Lap Gadgets v
Ocean Inc v
Pearl Networking
Technologies Private Limited v
Shagun Infotech v
Wipro Limited v Zem Exim Private Limited |
||||||
|
|
|
||||||
|
Customers : |
End Users v Girdhar International Private Limited v
Shivam Nokia
Care v
Gold Seal Avon Polymers
Private Limited v
Pratham Jewellery v
Pradip Polyfil Private
Limited v
Krish Auto Gasoline v
US Electronics v
S.K. Computers v
Synergy Peripheral
Services v
Venus Data Products v Monarch Computers |
||||||
|
|
|
||||||
|
No. of Employees : |
30 (Approximately) |
||||||
|
|
|
||||||
|
Bankers : |
Corporation
Bank, Navsari Branch, Navsari – 396
445, |
||||||
|
|
|
||||||
|
Facilities : |
Cash Credit – Rs.5.000 millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dinesh Vasani and Associates Chartered Accountants |
|
Address : |
103, Hare Krishna Complex, Above IDBI Bank, Near Vasant Talkies,
Navsari – 396 445, |
|
Tele Fax No.: |
91-2637-248744/ 45 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAGPV7332L |
CAPITAL STRUCTURE
As on 15.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.300 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.107 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.407 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.529 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.529 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.936 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.795 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
7.946 |
|
|
Sundry Debtors |
|
|
4.949 |
|
|
Cash & Bank Balances |
|
|
2.861 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans, Advances & Deposits |
|
|
0.398 |
|
Total
Current Assets |
|
|
16.154 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
15.629 |
|
|
Other Current Liabilities |
|
|
0.141 |
|
|
Provisions |
|
|
0.286 |
|
Total
Current Liabilities |
|
|
16.056 |
|
|
Net Current Assets |
|
|
0.098 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.043 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.936 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
41.793 |
|
|
|
Other Income |
|
|
0.182 |
|
|
|
TOTAL (A) |
|
|
41.975 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
38.293 |
|
|
|
Direct Expenses |
|
|
0.059 |
|
|
|
Administrative, Selling & General Expenses |
|
|
1.158 |
|
|
|
Employee Remuneration & Benefits |
|
|
2.101 |
|
|
|
TOTAL (B) |
|
|
41.611 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.364 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.178 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.186 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
0.121 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
0.107 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
0.107 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
3.57 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.200.000 millions
The above information has been parted by Mr. Vishnu (Director).
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
0.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
40.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.01 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
|
Sundry Creditors |
15.629 |
|
|
|
Details of Sundry Creditors: (Partial Details)
|
Particulars |
31.03.2011 (Rs. in millions) |
|
Sundry Creditors |
|
|
Ingram Micro
India Limited |
8.074 |
|
Redington India Limited |
0.634 |
|
Advance Computers |
0.006 |
|
Alak Enterprise |
0.003 |
|
Care Office Equipment
Limited |
0.255 |
|
Fortune Computers |
0.056 |
|
Lap Gadgets |
0.003 |
|
Ocean Inc |
0.772 |
|
Pearl Networking
Technologies Private Limited |
0.092 |
|
Shagun Infotech |
0.035 |
|
Wipro Limited |
0.354 |
|
Zem Exim Private
Limited |
0.025 |
|
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 one year |
Yes |
|
12) Profitability for last one year |
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 company’s commercial operation has been started during the year. In
the first year of operation company has achieved good sales and in profit of its
first year of operation. The company has very good plan for the growth in
coming years.
TRADE REFERENCES:
v
Girdhar
International Private Limited
v
Ingram Micro
India Limited
v Redington India Limited
FIXED ASSETS:
v Computer and Printer
v Mobile Phone
v Vehicle
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.54.20 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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 |
|
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.