MIRA
INFORM REPORT
|
Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
KALYANI INFOTECH SOLUTIONS LIMITED |
|
|
|
|
Formerly Known
As : |
RATNAGARBH CREATIVITY SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 49, Industry House, Opposite Kalyani Steel Limited, Mundhwa,
Pune – 411036, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.02.1997 |
|
|
|
|
Com. Reg. No.: |
11-105730 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.090
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1997PLC105730 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK07901F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR4139B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of rendering IT and IT enabled
services and safe and installation of networking and security systems, accessories,
etc. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1280000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
financial positions of the company appears to be good. There appears some dip in the sales of the company during 2012.
However, trade relations are reported as trustworthy. Business is active.
Payments terms are reported to be regular and as per commitments. The company can be considered for 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.
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 DECLINED
MANAGEMENT NON CO-OPERATIVE
LOCATIONS
|
Registered/ Head Office : |
S. No. 49, Industry House, Opposite Kalyani Steel Limited, Mundhwa,
Pune – 411036, |
|
Tel. No.: |
91-20-26725152/ 26814971/ 72 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Engineering and Training Services Division : |
47/2, A-B, Shri Gobind Nivas, 2nd Floor, Opposite City Pride Multiplex,
Pune Satara Road, Bibvewadi, Pune – 411009, Maharashtra, India |
|
Tel. No.: |
91-20-24220206 / 24224846 |
|
Fax No.: |
91-20-24224846 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Shriniwas Balawant Kanade |
|
Designation : |
Director |
|
Address : |
20, Nityanand Housing Society, |
|
Date of Birth/Age : |
04.03.1953 |
|
Date of Appointment : |
07.02.1997 |
|
DIN No.: |
00089063 |
|
|
|
|
Name : |
Mrs. Supriya Gajanan Tilak |
|
Designation : |
Director |
|
Address : |
1397, Shukrawar Peth, Nava Vishnu Chowk, Sangam Sadi Center Lane, Pune
– 411002, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1965 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
01666713 |
|
|
|
|
Name : |
Mr. Madan Umakant Takale |
|
Designation : |
Director |
|
Address : |
3, Archway Kalyani Nagar, Pune – 411006, |
|
Date of Birth/Age : |
18.08.1960 |
|
Date of Appointment : |
12.07.2007 |
|
DIN No.: |
01291287 |
KEY EXECUTIVES
|
Name : |
Sridhar G. Mudaliar |
|
Designation : |
Company Secretary |
|
Address : |
22-A, Hanuman Nagar, Off |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Govalkonda Trading Company Private Limited, |
|
7001 |
|
Janjira Trading Company Private Limited, |
|
7001 |
|
Pratapgad Trading Company Private Limited, |
|
8000 |
|
Purandhar Trading Company Private Limited, |
|
28750 |
|
Rayad Trading Company Private Limited, |
|
28750 |
|
Vasai Fort Trading Company Private Limited, |
|
8750 |
|
Vishalgad Trading Company Private Limited, |
|
750 |
|
Sundaram Trading and Investment Private Limited, |
|
10000 |
|
KTMS Properties Private Limited, |
|
10000 |
|
Total |
|
109002 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of rendering IT and IT enabled services
and safe and installation of networking and security systems, accessories,
etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Note: Cash Credit borrowed from HDFC Bank Limited is repayable on demand.
The same is secured by hypothecation of current assets and plant and
machinery. Cash Credit facility carries interest at the rate of 13% p.a. |
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prashant V. Deo Chartered Accountant |
|
Address : |
11, 8/B Laxminarayannagar, Erandawana, Pune – 411004, |
|
Tel. No.: |
91-20-25465542 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABAPD7786M |
|
|
|
|
Joint Venture : |
Kalyani ( |
|
|
|
|
Associates : |
Ř Ken Renewable
Holding Limited, Cyrus Ř Kenersys
Renewable Ř Kenersys Europe Ř Kenersys
Renewable Energies Holding Ř Kenersys Ř Kenersys ( Ř Kenersys India
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
242,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.420 Millions |
|
8,000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.080 Million |
|
|
Total |
|
Rs. 2.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109,002 |
Equity Shares |
Rs.10/- each |
Rs. 1.090
Millions |
|
|
|
|
|
a. Equity Shares of the company have a par value of Rs. 10/-. Each holder of
the equity shares is entitled to one vote per share. In the event of liquidation
of the company, the holders of equity shares will be entitled to receive
surplus assets of the Company, remaining after distribution of all preferential
amounts.
b. 12% Non-cumulative Redeemable Preferences Shares of the company have a
par value of Rs. 10/-. These shares carry preferential right to be paid a fixed
dividend of 12% on the paid up value of the shares, if and when declared by the
company.
These shares carry, in the event of winding up
or repayment of capital, a preferential right to be repaid the amount of
capital paid up.
c.
The reconciliation of the number of shares
outstanding and the amount of paid-up share capital as at 31st
March, 2012 is set out below.
|
Particulars |
31.03.2012 |
|
|
|
Number |
Amount |
|
Balance at the beginning of the year |
109002 |
1.090 |
|
Add: Shares issued during the year |
-- |
-- |
|
Balance at the close of the year |
109002 |
1.090 |
d.
Details of shareholders holding more than 5% of the
aggregate issued and subscribed shares.
|
Particulars |
31.03.2012 |
|
|
|
Number |
% of Shares |
|
Govalkonda Trading Company Private Limited, India |
7001 |
6.42 |
|
Janjira Trading Company Private Limited, India |
7001 |
6.42 |
|
Pratapgad Trading Company Private Limited, India |
8000 |
7.34 |
|
Purandhar Trading Company Private Limited, India |
28750 |
26.38 |
|
Rayad Trading Company Private Limited, India |
28750 |
26.38 |
|
Vasai Fort Trading Company Private Limited, India |
8750 |
8.03 |
|
Sundaram Trading and Investment Private Limited, India |
10000 |
9.17 |
|
KTMS Properties Private Limited, India |
10000 |
9.17 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.090 |
1.090 |
1.090 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
320.796 |
316.796 |
319.660 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(12.655) |
|
|
NETWORTH |
321.886 |
317.886 |
308.095 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.916 |
2.578 |
2.916 |
|
|
2] Unsecured Loans |
2.205 |
2.203 |
9.405 |
|
|
TOTAL BORROWING |
5.121 |
4.781 |
12.321 |
|
|
DEFERRED TAX LIABILITIES |
1.983 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
328.990 |
322.667 |
320.416 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.055 |
35.439 |
41.504 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
260.801 |
257.318 |
273.562 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.232
|
5.455 |
2.183 |
|
|
Sundry Debtors |
24.458
|
36.701 |
22.881 |
|
|
Cash & Bank Balances |
4.921
|
2.523 |
1.242 |
|
|
Other Current Assets |
1.455
|
1.211 |
0.000 |
|
|
Loans & Advances |
25.811
|
19.016 |
20.469 |
|
Total
Current Assets |
56.877
|
64.906 |
46.775 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.776
|
10.734 |
17.127 |
|
|
Other Current Liabilities |
4.138
|
18.312 |
19.320 |
|
|
Provisions |
0.829
|
5.950 |
4.978 |
|
Total
Current Liabilities |
5.743
|
34.996 |
41.425 |
|
|
Net Current Assets |
51.134
|
29.910 |
5.350 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
328.990 |
322.667 |
320.416 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
72.317 |
120.994 |
77.831 |
|
|
|
Other Income |
3.464 |
0.525 |
0.494 |
|
|
|
TOTAL |
75.781 |
121.519 |
78.325 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of traded goods |
11.369 |
36.611 |
|
|
|
|
Changes in inventories of stock in trade |
5.223 |
(3.272) |
|
|
|
|
Employee benefit Expenses |
25.151 |
46.606 |
|
|
|
|
Other Expenses |
21.706 |
21.844 |
|
|
|
|
TOTAL |
63.449 |
101.789 |
64.417 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
12.332 |
19.730 |
13.908 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.069 |
0.559 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.263 |
19.171 |
13.908 |
|
|
|
|
|
|
|
|
|
|
PRIOR
PERIOD ADJUSTMENTS |
0.000 |
0.000 |
(0.007) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.642 |
7.554 |
6.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.621 |
11.617 |
6.975 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.621 |
1.827 |
0.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.000 |
9.790 |
6.899 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.865) |
(12.655) |
(19.554) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.135 |
(2.865) |
(12.655) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Services |
8.466 |
9.664 |
10.692 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.70 |
89.82 |
63.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.28 |
8.06 |
8.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.39 |
9.60 |
8.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.25 |
11.58 |
7.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.04 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.03 |
0.13 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.90 |
1.85 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Micro, Small and Medium Enterprises |
0.000 |
|
|
|
Others |
0.776 |
10.734 |
|
|
Sundry Creditors |
0.776 |
10.734 |
17.127 |
|
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 |
Yes |
|
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 |
COMPANY OVERVIEW:
Subject is a public limited company engaged in the business of rendering
IT and IT enabled services and safe and installation of networking and security
systems, accessories, etc.
FIXED ASSETS
Tangible Assets:
Ř
Plant and Machinery
Ř
Furniture and Fixture
Ř
Vehicles
Ř
Office Equipments
Intangible Assets:
Ř
Software
Ř
Goodwill
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. 54.02 |
|
|
1 |
Rs. 87.00 |
|
Euro |
1 |
Rs. 70.22 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.