|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
WEALTH TREE ADVISORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
24, Gokul Shyam, Devidayal Road, Mulund West, Mumbai – 400080,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-170400 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
IEC No.: |
0308075099 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910MH2007PTC170400 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW03151B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW7078D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Consulting Services. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered normal for 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
Kaveri Venkataraman |
|
Designation : |
Finance Head – Wealthtree |
|
Contact No.: |
91-9820148444 |
|
Date : |
13.12.2012 |
LOCATIONS
|
Registered Office : |
24, Gokul Shyam, Devidayal Road, Mulund West, Mumbai – 400080,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Ground Floor, Japamala, 261-C, Central Avenue Road, Chembur, Mumbai –
400071, Maharashtra, India |
|
Tel. No.: |
91-22-32605808/ 25206297 |
|
Area : |
1000 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Partners Representative Offices : |
Located at: Ø Delhi Ø Gurgaon Ø Ahmedabad Ø Bangalore Ø Pune |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Odaiyalur Venkataraman Srinivasan |
|
Designation : |
Director |
|
Address : |
1, Ambe Smruti, Devi Dayal Road, Mulund West, Mumbai - 400080,
Maharashtra, India |
|
Date of Birth/Age : |
22.04.1945 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
01995419 |
|
|
|
|
Name : |
Mrs. Sarala Srinivasan |
|
Designation : |
Director |
|
Address : |
1, Ambe Smruti, Devi Dayal Road, Mulund West, Mumbai - 400080,
Maharashtra, India |
|
Date of Birth/Age : |
25.04.1955 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
01208765 |
|
|
|
|
Name : |
Mr. Srinivasan Venkataraman |
|
Designation : |
Director |
|
Address : |
1, Ambe Smruti, Devi Dayal Road, Mulund West, Mumbai - 400080,
Maharashtra, India |
|
Date of Birth/Age : |
24.04.1974 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
01132306 |
KEY EXECUTIVES
|
Name : |
Ms. Kaveri Venkataraman |
|
Designation : |
Finance Head – Wealthtree |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sarala Srinivasan |
|
50 |
|
Odaiyalur Venkataraman Srinivasan |
|
50 |
|
Srinivasan Venkataraman |
|
9900 |
|
Total |
|
10000 |
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 Consulting Services. |
GENERAL INFORMATION
|
Customers : |
Overseas Government Organizations and Private Companies |
|
|
|
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
HDFC Bank Limited, Manisha Towers Annex, 60 Feet Road, Near Tata
Colony, Mulund (East), Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. P. Doshi and Company Chartered Accountants |
|
Address : |
201 Bhaveshwar Complex, Vidyavihar West, Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25146854/ 55 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AARFA0281E |
CAPITAL STRUCTURE
AS ON 31.03.2012
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 |
|
|
|
|
|
Reconciliation of Number of Shares
|
Particulars |
No. of shares |
|
No. of Shares Outstanding at the beginning of the period |
10,000 |
|
No. of Shares issued as bonus shares by capitalisation of Profits |
-- |
|
No. of Shares outstanding at the end of the year |
10,000 |
Details of shareholder holding more than 5%
|
Name of Shareholder |
No. of shares
held |
|
S. Venkatraman |
9,900 |
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.557 |
4.688 |
2.951 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.657 |
4.788 |
3.051 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
7.657 |
4.788 |
3.058 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.068 |
0.584 |
0.253 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.016 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
6.374
|
2.115 |
0.404 |
|
|
Cash & Bank Balances |
2.025
|
3.460 |
0.356 |
|
|
Other Current Assets |
0.018
|
0.212 |
0.000 |
|
|
Loans & Advances |
0.473
|
1.293 |
4.363 |
|
Total
Current Assets |
8.890
|
7.080 |
5.123 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.756
|
0.763 |
2.141 |
|
|
Other Current Liabilities |
2.561
|
2.113 |
0.177 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
3.317
|
2.876 |
2.318 |
|
|
Net Current Assets |
5.573
|
4.204 |
2.805 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.657 |
4.788 |
3.058 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
23.411 |
13.732 |
10.786 |
|
|
|
Other Income |
0.114 |
0.005 |
0.000 |
|
|
|
TOTAL (A) |
23.525 |
13.737 |
10.786 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
10.163 |
4.762 |
3.591 |
|
|
|
Other Expenses |
9.115 |
6.260 |
4.999 |
|
|
|
TOTAL (B) |
19.278 |
11.022 |
8.590 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.247 |
2.715 |
2.196 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.013 |
0.007 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.234 |
2.708 |
2.182 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.141 |
0.166 |
0.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.093 |
2.542 |
1.935 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.224 |
0.805 |
0.612 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.869 |
1.737 |
1.323 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.688 |
2.951 |
1.628 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.557 |
4.688 |
2.951 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Consultancy Fees received |
N.A. |
8.063 |
4.379 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
286.87 |
173.74 |
132.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.20 |
12.64 |
12.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.48 |
18.51 |
17.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.35 |
33.17 |
35.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53 |
0.53 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.43 |
0.60 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.68 |
2.46 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
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 |
Note: The registered
address of the company has been shifted from 1, Ambe Smruti, Devi Dayal Road,
Mulund West, Mumbai - 400080, Maharashtra, India to the present w.e.f.
15.04.2011
TRADE REFERENCES:
Branch Manager – HDFC Bank
Manisha Towers Annex, 60 Feet Road, Near
Tata Colony, Mulund (East), Mumbai, Maharashtra, India
Ph: 91-9324800291
Email: karthik.anjaria@hdfcbank.com
Commercial Consul (U.S. Commercial Service)
U.S. Consulate General, Mumbai, Maharashtra, India
Email: Richard.rothman@trade.gov
Senior Trade Commissioner Consulate General
of Canada in Mumbai
India Bulls Finance Centre, 21st
Floor, Tower 2, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400013,
Maharashtra, India
Ph: 91-22-67494445
Email: nicolas.lepage@international.gc.ca
Director – B.E.
Billimoria and Company Limited
Shivnagar Estate
‘A’ Block. 2nd Floor, Mumbai - 400018, Maharashtra, India
Email: kbb@bebanco.com
FIXED ASSETS:
Ø Plant and Machinery
Ø Computers
Ø Furniture and fixture
Ø Office Renovation
Ø Office Equipment
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 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. 54.39 |
|
|
1 |
Rs. 87.78 |
|
Euro |
1 |
Rs. 71.29 |
INFORMATION DETAILS
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
|
45 |
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.