|
Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MONARCH TECHNOLOGIES (PUNE) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Infinity, CTS 129/B2, Law College Road, Erandwane, Pune – 411004,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-096267 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.972
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900PN1996PTC096267 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM02538E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Information Technology Solutions. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 68600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company performance capacity has been appreciating. But there is dip in the
profitability. However, trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 DECLINED
|
Name : |
Mr. Rajendra Shah |
|
Designation : |
Director |
|
Contact No.: |
91-20-25424563 |
|
Date : |
11.12.2012 |
LOCATIONS
|
Registered Office/ Corporate Services : |
1, Infinity, CTS 129/B2, Law College Road, Erandwane, Pune – 411004,
Maharashtra, India |
|
Tel. No.: |
91-20-25424560/ 61 |
|
Fax No.: |
91-20-25424562 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Software Solutions : |
16/3, Poonam Chambers, Off Karve Road, Erandwane, Pune – 411004,
Maharashtra, India |
|
Tel. No.: |
91-20-25459277 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rajendra Gopaldas Sheth |
|
Designation : |
Director |
|
Address : |
1103, Budhwar Peth, Pune – 411002, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1965 |
|
Date of Appointment : |
15.01.1996 |
|
DIN No.: |
02176630 |
|
|
|
|
Name : |
Mr. Anirudha Madhav Menavlikar |
|
Designation : |
Director |
|
Address : |
1/9 Roma, Tejas Co-Operative Housing, Society, Behind Kothrud Bus Stop,
Pune – 411029, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
15.01.1996 |
|
DIN No.: |
01128710 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajendra Gopaldas Sheth |
|
48620 |
|
Anirudha Madhav Menavlikar |
|
48620 |
|
Total |
|
97240 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology Solutions. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Ø Bank of India, Karve
Road Branch, Karve Road, Pune – 411004, Maharashtra, India Ø The Ratnakar
Bank Limited, Mahaveer ‘E’ Ward, Shree Shahu Market Yard, Kolhapur – 416005,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chobe and Mate Associates Chartered Accountants |
|
Address : |
Flat No. 2, Phadke Sankul, 1785, Sadashiv Peth, Near Khajina Vihir,
Tilak Road, Pune – 411030, Maharashtra, India |
|
Tel. No.: |
91-20-24478627 |
|
Fax No.: |
91-20-24454721 |
|
E-Mail : |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAATC1235D |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94000 |
Equity Shares of ‘A’ Class |
Rs. 10/- each |
Rs. 0.940 Million |
|
6000 |
Equity Shares of ‘B’ Class |
Rs. 10/- each |
Rs. 0.060 Million |
|
|
Total |
|
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94000 |
Equity Shares of ‘A’ Class |
Rs. 10/- each |
Rs. 0.940
Million |
|
3240 |
Equity Shares of ‘B’ Class |
Rs. 10/- each |
Rs. 0.032
Million |
|
|
Total |
|
Rs. 0.972 Million |
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 |
0.972 |
0.972 |
0.972 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.191 |
14.435 |
11.918 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.163 |
15.407 |
12.890 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
18.973 |
18.495 |
11.331 |
|
|
2] Unsecured Loans |
3.409 |
4.900 |
4.168 |
|
|
TOTAL BORROWING |
22.382 |
23.395 |
15.499 |
|
|
DEFERRED TAX LIABILITIES |
0.941 |
1.169 |
0.911 |
|
|
|
|
|
|
|
|
TOTAL |
40.486 |
39.971 |
29.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.412 |
15.812 |
16.506 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.724
|
25.915 |
8.910 |
|
|
Sundry Debtors |
72.913
|
23.763 |
24.791 |
|
|
Cash & Bank Balances |
0.627
|
0.483 |
0.308 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
13.532
|
15.270 |
6.755 |
|
Total
Current Assets |
116.796
|
65.431 |
40.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
84.720
|
36.372 |
23.983 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.354 |
|
|
Provisions |
7.002
|
4.900 |
3.633 |
|
Total
Current Liabilities |
91.722
|
41.272 |
27.970 |
|
|
Net Current Assets |
25.074
|
24.159 |
12.794 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.486 |
39.971 |
29.300 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
387.365 |
214.171 |
152.483 |
|
|
|
Other Income |
14.702 |
8.526 |
8.898 |
|
|
|
TOTAL (A) |
402.067 |
222.697 |
161.381 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
385.157 |
221.396 |
143.027 |
|
|
|
Purchase of stock in trade |
0.000 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work in progress and stock
in trade |
(3.809) |
(17.005) |
1.894 |
|
|
|
Employee Benefit Expenses |
4.779 |
5.149 |
4.533 |
|
|
|
Other Administrative Expenses |
5.234 |
5.601 |
5.739 |
|
|
|
TOTAL (B) |
391.361 |
215.141 |
155.193 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.706 |
7.556 |
6.188 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.275 |
3.033 |
1.564 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.431 |
4.523 |
4.624 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.271 |
0.785 |
0.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.160 |
3.738 |
3.975 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.404 |
1.221 |
1.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.756 |
2.517 |
2.733 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.00 |
26.00 |
28.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.44 |
1.13 |
1.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.82 |
1.75 |
2.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.39 |
4.60 |
6.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.24 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.65 |
4.20 |
3.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.59 |
1.46 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors for Material/ Supplies |
84.720 |
36.372 |
23.983 |
|
|
|
|
|
|
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 |
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 |
No |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72900PN1996PTC096267 |
|
Name of the
company |
MONARCH
TECHNOLOGIES (PUNE) PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1, Infinity, CTS 129/B2, Law College Road, Erandwane, Pune – 411004,
Maharashtra, India Email: csgaurav2009@gmail.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of India, Karve Road Branch, Karve Road, Pune – 411004,
Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation cum
loan agreement |
|
Date of
instrument Creating the charge |
06.02.2012 |
|
Amount secured by
the charge |
Rs. 1.000 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Bank's
norms Terms of Repayment Not applicable Margin Not applicable Extent and Operation of the charge To the extent of
Rs. 1.000 Million Others Type of facility
- Casual Bank Guarantee |
|
Short particulars
of the property charged |
Tangible movable
machinery wherever situated Stock of raw materials, semi finished goods,
finished goods, spares wherever situated Book debts, outstandings, money
receivables, claims, bills etc. |
FIXED ASSETS:
Ø Land
Ø Office Premises
Ø Furniture and Fixture
Ø Vehicles
Ø Office Equipments
Ø Computers
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 : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.