MIRA
INFORM REPORT
|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
VIJAY SECURITY SYSTEMS PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
VIJAY VANAZ ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
35, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
02.02.1989 |
|
|
|
|
Com. Reg. No.: |
11-050542 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.750 Million |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29120MH1989PTC050542 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV09793A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACV1363L |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Trader of Electronic Security Systems Like CCTV, Security Fire Alarm. |
|
|
|
|
No. of Employees
: |
70 [In Office] Approximately |
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 259000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having fine track.
Trade relations are reported as fair. Business is active. Payments 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.
INFORMATION PARTED BY
|
Name : |
Ms. Megha |
|
Designation : |
Accountant |
|
Contact No. : |
91-22-28472853 |
|
Date : |
14.02.2012 |
LOCATIONS
|
Registered Office : |
35, |
|
Tel. No.: |
91-22-28472853 / 54 / 1976 |
|
Fax No.: |
91-22-28470804 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at :
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Pradip Ratilal Salot |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
18, Navyug CHS Limited, Salot S 18, N.S. Road No.3, J.V.P.D. Scheme,
Vile Parle (West), Mumbai-400056, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.04.1951 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.03.1989 |
||||||||||||||||||||||||||||||||
|
DIN : |
00027100 |
||||||||||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Nishit Pradip Salot |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Slots 18, |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.06.1982 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.09.2003 |
||||||||||||||||||||||||||||||||
|
DIN : |
00027189 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Hemal Milap Shah |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
10-B, Amey Apartments, Near |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.08.1977 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.08.2002 |
||||||||||||||||||||||||||||||||
|
DIN : |
00027259 |
||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Megha |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Pradip Ratilal Salot |
|
5480 |
|
Ms. Jemini P. Salot |
|
220 |
|
Mrs. Hemal Milap Shah |
|
440 |
|
Mr. Nishit Pradip Salot |
|
444 |
|
Mr. Pradip R. Salot Jt. Pradip R. Salot [HUF] |
|
550 |
|
Mr. Pradip R. Salot Jt. Jemini P Salot (HUF) |
|
148 |
|
Ms. Jemini P. Salot Jt. Pradip R. Salot |
|
218 |
|
Total |
|
7500 |
(AS ON 30.09.2011)
|
Equity Share
Breakup Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electronic Security Systems Like CCTV, Security Fire Alarm. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
|
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
L/C, Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Premium Technology |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users §
Unitech §
ACC Limited § Adobe Systems India Private Limited § Antelec Limited § Adani Group § American Express § Akruti Nirman Limited § Ansal Developers §
Bank Of § BAX Global India Private Limited § BBC World § Cipla Limited §
CB Richard Ellis § CMS Computers Limited § Deutsche Bank § DHL Express § E. I. DuPont India Private Limited § Electronics Corporation Of India Limited § Fidelity Investments § GE BE Limited § IBM Global Service India Private Limited § ICI India Limited § Infiiti Retail - Croma §
Jones Lang Lasalle §
Karnataka State Road
Transport Corporation (KSRTC) §
§
Madgul Parks Private
Limited §
MasterCard
International §
Oracle §
Potential Services
Consultants §
Procter and Gamble §
Reliance Industries Limited §
Rungta Group §
Serco Global Services §
Shapoorji Pallonji and
Company Limited §
SJR Builders §
State Bank of §
§
The §
Tata Motors Limited §
United Engineers §
Wipro Technologies Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
70 [In Office] Approximately |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
Auditors : |
|
|
Name : |
Chaturvedi Sohan and Company Chartered Accountants |
|
Address : |
320, Tulsiani
Chamber, 212, Nariman Point, Mumbai - 400021, |
|
PAN : |
AABPC8158C |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
|
|
|
|
Group Companies: |
|
|
Name : |
Vijay Security Systems Private Limited Activity: Providing customised solutions for Security, Fire and Safety Systems. |
|
|
|
|
Name : |
Vijay Transtech Private Limited Activity: Providing turnkey solution for Integrated Building Management System. |
|
|
|
|
Name : |
Vijay Sabre Safety Limited Activity: Manufacturer of Safety Products. |
|
|
|
|
Name : |
Vijay Fire Vehicles and Pumps Private Limited Activity: Manufacturer
of fire vehicles in |
|
|
|
|
Name : |
Vijay Systems Engineers Private Limited Activity: Manufacturer of Passive Fire Protection System. |
|
|
|
|
Name : |
Vijay Latex Products Limited Activity: Manufacturer of Medical Equipment Products and Surgical Gloves. |
|
|
|
|
Name : |
Vijay Exports Private Limited Activity: Trading of agricultural products, metal scraps and stationery products. |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500 |
Equity Share |
Rs.100/- Each |
Rs. 0.750 Million |
|
1,000 |
12% cumulative redeemable Preference Share |
Rs.100/- Each |
Rs. 0.100 Million |
|
|
Total |
|
Rs. 0.850
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500 |
Equity Share |
Rs.100/- Each |
Rs. 0.750
Million |
|
|
|
|
|
Note : Out of the above 3750 equity shares are issued
as fully paid up binus shgares by capitalization of reserve.
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.750 |
0.750 |
0.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
64.219 |
61.124 |
59.718 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
64.969 |
61.874 |
60.468 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.177 |
12.526 |
2.497 |
|
|
2] Unsecured Loans |
55.000 |
20.400 |
3.600 |
|
|
TOTAL BORROWING |
57.177 |
32.926 |
6.097 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.114 |
0.075 |
|
|
|
|
|
|
|
|
TOTAL |
122.146 |
94.914 |
66.640 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.013 |
7.145 |
3.302 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.233 |
12.081 |
29.165 |
|
|
DEFERREX TAX ASSETS |
0.279 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
30.216
|
59.568
|
8.949
|
|
|
Sundry Debtors |
29.829
|
42.274
|
18.906
|
|
|
Cash & Bank Balances |
3.067
|
3.032
|
0.582
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
59.771
|
19.607
|
17.609
|
|
Total
Current Assets |
122.883
|
124.481 |
46.046
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.872
|
30.202
|
|
|
|
Other Current Liabilities |
10.638
|
16.643
|
10.511
|
|
|
Provisions |
2.752
|
1.948
|
1.362
|
|
Total
Current Liabilities |
19.262
|
48.793 |
11.873
|
|
|
Net Current Assets |
103.621
|
75.688 |
34.173
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
122.146 |
94.914 |
66.640 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
117.258 |
124.305 |
50.117 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
113.953 |
122.200 |
48.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
BEFORE TAX |
3.305 |
2.105 |
1.608 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.090 |
0.475 |
0.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX |
3.315 |
1.630 |
1.352 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
0.000 |
0.000 |
0.315 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
0.315 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
21.492 |
26.257 |
7.163 |
|
|
TOTAL IMPORTS |
21.492 |
26.257 |
7.163 |
|
|
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
436 |
211 |
180 |
|
Expected Sales (2011-2012): Rs. 130.000 Millions
The above information has been parted by Ms. Megha [Accountant]
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.83 |
1.31 |
2.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.54 |
1.60 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18 |
1.32 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.38 |
2.55 |
3.88 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report [Yes/No] |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Construction of the firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoters background |
- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of contact
person |
Yes |
|
Turnover of firm for last
two years |
Yes |
|
Profitability for last
three years |
No |
|
Reasons for variation
<> 20% |
- |
|
Estimation for coming
financial year |
Yes |
|
Capital the business |
Yes |
|
Details of sister
concerns |
Yes |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payment Terms |
Yes |
|
Export / Import Details
[If Applicable] |
Yes |
|
Market Information |
- |
|
Litigations that the firm
/ promoter involved in |
- |
|
Banking Details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the banking
account |
- |
|
Buyer visit details |
- |
|
Financials, if provided |
No |
|
Incorporation details, if
applicable |
- |
|
Last accounts filed at
ROC |
- |
|
Major Shareholders, if
applicable |
- |
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011
Rs.
in Millions |
31.03.2010
Rs.
in Millions |
31.03.2009 Rs.
in Millions |
|
Other Sundry Creditors |
5.076 |
28.432 |
NA |
|
Creditors for Expenses |
0.796 |
1.770 |
NA |
|
Total |
5.872 |
30.202 |
NA |
Overseas Venture : The company has a
Joint Venture at
Subsidiary
Companies and its Consolidated Accounts : The company has one wholly owned subsidiary
with name Vijay International FZE registered at the free trade zone of Dubai.
The company has invested Rs.1.335 millions in this company.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29120MH1989PTC050542 |
|
Name of the
company |
VIJAY SECURITY
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
35, Chandivali
Villlge, Off |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of charge
holder |
IDBI Bank Limited, 161, 16th Floor, C Wiong, Mittal Court,
Nariman Point, Mumbai - 400021, Email : kv.parmar@idbi.co.in
CIN : L65190MH2004GOI148838 |
|
Nature of
instrument creating charge |
1. Loan - Cum -
Hypothecation Agreement dated 27th January, 2010. 2. Omnibus
Counter Guarantee dated 27th January, 2010. |
|
Date of
instrument Creating the charge |
27.01.2010 |
|
Amount secured by
the charge |
Rs. 50.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- BPLR i.e. 12.75% p.a. Terms of
Repayment - On Demand and Annual Review/Renewal Margin - Cash
Credit - Stock - 25% and Debtors - 40% [book debts up to 90 days] Extent and
Operation of the charge - First Charge on current assets and collateral
security as stipulated in the letter of intent to secure the existing Working
Capital facility of Rs.50.000 millions granted by the Bank to the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The borrower
hypothecates in favour of Bank entire Stock and Book Debts and Equity linked
Mutual Funds in the name of Company. |
Trade References
§
Unitech
- Premium Technology
Fixed Assets :
- Plant and
Machinery
- Computers
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
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 records 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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
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.