|
Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAGNAMIOUS SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
102, Chintamani Kutir, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.10.1995 |
|
|
|
|
Com. Reg. No.: |
11-094056 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.300
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U7200MH1995PTC094056 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM16037A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Computer Peripherals and Accessories. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 348000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payment are reported to
be usually correct and as per commitments. The company can be considered normal 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 BY
|
Name : |
Mr. Jiten Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-22-26115106 |
|
Date : |
11.12.2012 |
LOCATIONS
|
Registered Office/ Head Office : |
102, Chintamani Kutir, Off |
|
Tel. No.: |
91-22-26115106/ 26115128 |
|
Fax No.: |
91-22-26115308/ 26115303 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office 1 : |
F-3, First Floor,
Excelsior Chambers, Building-B, Opposite Rizvi Chambers, |
|
Tel. No.: |
91-832-2232071/ 79 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2
: |
Office No.2, 3rd Floor, Radiant Arcade, |
|
Tel. No.: |
91-20-26334564 |
|
Email: |
|
|
Area: |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office 3
: |
Also located at:
v
Vapi |
|
|
|
|
Customer Care
Office: |
502, Khushal Point, 5th Floor, Road No.4, Behind Uday
Cinema, Ghatkopar (West), Mumbai – 400 086, |
|
Tel. No.: |
91-22-25121244/ 25121245 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mrs. Chaula Deepak Zhaveri |
|
Designation : |
Director |
|
Address: |
1502, |
|
Date of Appointment: |
28.12.1995 |
|
DIN No.: |
01874544 |
|
|
|
|
Name : |
Mr. Dipak Dinesh Chandra Zhaveri |
|
Designation : |
Director |
|
Address : |
1502, |
|
Date of Birth/Age : |
23.06.1965 |
|
Qualification : |
BE (Electronics) |
|
Date of Appointment: |
31.10.1995 |
|
DIN No.: |
01874564 |
|
|
|
|
Name : |
Mrs. Jaina Jiten Mehta |
|
Designation : |
Director |
|
Address : |
902, Tower I, Green Ridge, Chikuwadi, Link Road, Borivali (West),
Mumbai – 400 092, Maharashtra, India |
|
Date of Birth/Age : |
11.10.1967 |
|
Date of Appointment: |
28.12.1995 |
|
DIN No.: |
01874588 |
|
|
|
|
Name : |
Mr. Jiten Rajnikant Mehta |
|
Designation : |
Director |
|
Address : |
Flat No.902, 9th Floor, Tower I, Green Ridge, Chikuwadi,
Link Road, Borivali (West), Mumbai – 400 092, Maharashtra, India |
|
Date of Birth/Age : |
29.08.1966 |
|
Qualification : |
B.E (Electronics) |
|
Date of Appointment: |
31.10.1995 |
|
DIN No.: |
01874584 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dipak Dinesh Chandra Zhaveri |
|
900 |
|
Jiten Rajnikant Mehta |
|
900 |
|
Jaina Jiten Mehta |
|
600 |
|
Chaula Dipak Zhaveri |
|
600 |
|
Total
|
|
3000 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals and Accessories. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
v Union
Bank of v Citi
Bank , v United
Bank of v Oriental Bank of Commerce, Panjim Branch, Sapana Regency, Dr. Shigaonkar Marg, 18th June Road, Panjim – 403 001, Goa, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.M. Nissim and Company Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM5103E |
|
|
|
|
Other Related Parties : |
Magnamious Systems and Solutions (Partnership firm in which Directors
are partners in the capacity of Karta) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000 |
Equity Shares |
Rs.100/- each |
Rs.0.300
Million |
|
|
|
|
|
Terms/ Rights attached to the Share Capital
The company has only one class of equity share
and the shareholder in entitled to one vote per share. During the current year,
the amount of per share dividend recognized as distribution to equity
shareholders was Rs. Nil.
In the event of liquidation of the company,
the shareholders will be entitled to receive remaining assets of the company
after distribution of all preferential amounts in proportion to the number of
shares held.
Details of Shareholders holding more than 5 percent of the shares:
In respect of Equity Shares;
|
Name of the Shareholder |
No. of Shares
held |
|
Dipak Dinesh Chandra Zhaveri |
900 |
|
Jiten Rajnikant Mehta |
900 |
|
Chaula Dipak Zhaveri |
600 |
|
Jaina Jiten Mehta |
600 |
|
|
3000 |
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 |
0.300 |
0.300 |
0.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
86.718 |
68.804 |
52.589 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
87.018 |
69.104 |
52.889 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.192 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
11.116 |
9.545 |
8.135 |
|
|
TOTAL BORROWING |
12.308 |
9.545 |
8.135 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
99.326 |
78.649 |
61.042 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.452 |
8.474 |
9.309 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.143 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.628
|
8.499 |
4.733
|
|
|
Sundry Debtors |
74.368
|
80.382 |
51.958
|
|
|
Cash & Bank Balances |
44.013
|
36.015 |
21.717
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
12.744
|
13.826 |
9.732
|
|
Total
Current Assets |
138.753
|
138.722 |
88.140 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28.534
|
47.073 |
26.399
|
|
|
Other Current Liabilities |
8.573
|
8.726 |
5.010
|
|
|
Provisions |
11.915
|
12.748 |
4.998
|
|
Total
Current Liabilities |
49.022
|
68.547 |
36.407 |
|
|
Net Current Assets |
89.731
|
70.175 |
51.733
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
99.326 |
78.649 |
61.042 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
291.954 |
267.473 |
166.770 |
|
|
|
Other Income |
1.748 |
2.295 |
22.501 |
|
|
|
TOTAL (A) |
293.702 |
269.768 |
189.271 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock in Trade |
223.068 |
209.223 |
151.402 |
|
|
|
Changes in Inventories |
0.871 |
(3.766) |
(2.789) |
|
|
|
Employee Benefit Expenses |
31.336 |
24.312 |
19.368 |
|
|
|
Other Expenses |
10.416 |
11.510 |
7.764 |
|
|
|
TOTAL (B) |
265.691 |
241.279 |
175.745 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.011 |
28.489 |
13.526 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.277 |
0.919 |
0.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.734 |
27.570 |
12.598 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.763 |
0.874 |
1.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
25.971 |
26.696 |
11.595 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.056 |
10.481 |
4.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
17.915 |
16.215 |
7.501 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
52.588 |
45.087 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
52.588 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Professional and Consultation Fees |
6.832 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
6.832 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5972.00 |
5405.00 |
2500.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.10
|
6.01 |
3.96
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.90
|
9.98 |
6.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.52
|
18.14 |
11.90
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.39 |
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
1.13 |
0.84
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
2.02 |
2.42
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
28.534
|
47.073 |
26.399
|
|
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 |
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 |
OUTLOOK:
The Company anticipates better business and returns in the subsequent
financial years.
Fixed Assets:
Tangible Assets
v Freehold Buildings
v Computer Equipment
v Vehicles
v Office Equipment
v Electrical Installations
v Furniture and Fixtures
Intangible Assets
v Software Licenses
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.54.32 |
|
|
1 |
Rs.87.36 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.