MIRA
INFORM REPORT
|
Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRAINBEES SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B/402,1 Modi Baug, CTS 2254 To 2260, |
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Country : |
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|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
17.05.2010 |
|
|
|
|
Com. Reg. No.: |
11-136340 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.0.345 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72100PN2010PTC136340 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB07136D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of body products like Baby Foods, Baby Toys, Diapers etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 76000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is a relatively newly established company. Completed one full
year of operation. There appears huge loss during the first financial year.
However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 (GENERAL DETAILS)
|
Name : |
Mr. Sagar |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-20-30257500 |
|
Date : |
04.07.2012 |
LOCATIONS
|
Registered Office : |
B/402,1 Modi Baug, CTS 2254 To 2260, G.K. Road,
Shivajinagar, Pune – 411005, Maharashtra, India |
|
Tel. No.: |
91-20-30257500 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 17.10.2011
|
Name : |
Supam Maheshwari |
|
Designation : |
Director |
|
Address : |
B/402,1 Modi Baug, CTS 2254 To 2260, G.K. Road, Shivajinagar, Pune – 411005, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1973 |
|
Date of Appointment : |
17.05.2010 |
|
DIN No.: |
01730685 |
|
|
|
|
Name : |
Amitava Saha |
|
Designation : |
Director |
|
Address : |
P 28/1, CIT Road, Scheme – VII M, Kolkata – 700054, West Bengal, India |
|
Date of Birth/Age : |
12.06.1973 |
|
Date of Appointment : |
16.05.2011 |
|
DIN No.: |
02655827 |
|
|
|
|
Name : |
Mr. Ravi Chandra Adusumalli |
|
Designation : |
Director |
|
Address : |
741, Northland Drive, Salt Lake City, Utah, United States of America,
84103 |
|
Date of Birth/Age : |
14.01.1976 |
|
Date of Appointment : |
16.05.2011 |
|
DIN No.: |
00253613 |
|
|
|
|
Name : |
Mr. Mukul Arora |
|
Designation : |
Director |
|
Address : |
J 8/95, Rajouri Garden, New Delhi – 110027, India |
|
Date of Birth/Age : |
29.07.1984 |
|
Date of Appointment : |
22.08.2011 |
|
DIN No.: |
01099294 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.10.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Supam Maheshwari |
|
9690 |
|
Sampada Maheshwari |
|
1000 |
|
Sanket Hattimattur |
|
1380 |
|
PrashantJadhav |
|
5517 |
|
Amitava Saha |
|
10000 |
|
Bhupinder Singh |
|
4868 |
|
Saumya Mittal |
|
1352 |
|
Amit Bordia |
|
676 |
|
SAIF Partners India IV Limited, Mauritius |
|
20116 |
|
Total |
|
54599 |
List of Allottees
As on 02.02.2012
|
Names of Allottees |
|
No. of
Preference Shares Allotted |
|
|
|
|
|
SAIF Partners Indai IV Limited, Mauritius |
|
14463 |
|
IDG Ventures India LLC, Mauritius |
|
14463 |
|
Total |
|
28926 |
As on 17.10.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
49.47 |
|
Directors or relatives of Directors |
37.90 |
|
Other top fifty shareholders |
12.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of body products like Baby Foods, Baby Toys, Diapers etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days and 60 Days) |
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|
|
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Purchasing : |
Cash and Credit (30 Days and 60 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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|
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No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Baheti and Somani Chartered Accountant |
|
Address : |
29/8, B and S House, Sharad
Housing Society, Near Bharatiya Vidya Bhavan, Off S. B. Road, Shivaji Nagar,
Pune – 411016, Maharashtra, India |
|
PAN.: |
AAFFB8617B |
CAPITAL STRUCTURE
After 17.10.2011
Authorised Capital : Rs.1.020 Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54599 |
Equity Shares |
Rs.10/- each |
Rs.0.546
Million |
|
28926 |
Preferences Shares |
Rs.10/- each |
Rs.0.289
Million |
|
|
Total |
|
Rs.0.835 Million |
As on 17.10.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
71000 |
Equity Shares |
Rs.10/- each |
Rs.0.710 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54599 |
Equity Shares |
Rs.10/- each |
Rs.0.546
Million |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34483 |
Equity Shares |
Rs.10/- each |
Rs.0.345
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.345 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
18.705 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
19.050 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.039 |
|
|
TOTAL BORROWING |
|
|
0.039 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19.089 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.408 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.657 |
|
|
Sundry Debtors |
|
|
0.345 |
|
|
Cash & Bank Balances |
|
|
(0.070) |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
14.073 |
|
Total
Current Assets |
|
|
21.005 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2.270 |
|
|
Other Current Liabilities |
|
|
0.086 |
|
|
Provisions |
|
|
0.968 |
|
Total
Current Liabilities |
|
|
3.324 |
|
|
Net Current Assets |
|
|
17.681 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
19.089 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
3.408 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
10.011 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
|
|
(6.603) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
(6.727) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
(6.727) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(6.727) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
(195.08) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
(197.39) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(30.01) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.35) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
6.32 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars
|
|
|
31.03.2011 |
|
Sundry
Creditors |
|
|
|
|
-
For Capital Purchase |
|
|
0.082 |
|
-
For Expenses |
|
|
1.131 |
|
-
For Purchase |
|
|
1.057 |
|
Total |
|
|
2.270 |
|
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 one years |
Yes |
|
12) Profitability for last one 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 |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
No |
|
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 |
FIXED ASSETS
·
Office Equipments
·
Computer and Software
·
Furniture and Fixtures
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.54.55 |
|
|
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.