MIRA
INFORM REPORT
|
Report Date : |
07.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CINERAMA PRIVATE LIMITED |
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Registered
Office : |
Unit No.2, Ground and 1st Floor, Asuda Kutir 245, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.11.1954 |
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Com. Reg. No.: |
11-009418 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.300 Million |
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CIN No.: [Company Identification
No.] |
U33200MH1954PTC009418 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Dealer of Electronics Home Theater, Speakers etc. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 870000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular 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 (General Details)
|
Name : |
Mr. Sachin |
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Designation : |
Accounts Executive |
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Contact No.: |
91-22-32545260 |
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Date : |
06.07.2012 |
LOCATIONS
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Registered Office : |
Unit No.2, Ground and 1st Floor, Asuda Kutir 245, Water
Field Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
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Tel. No.: |
91-22-32545260 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate / Head Office : |
16-A, Industrial Suburb, 2nd Stage, Yeshwantpur, Tumkur Road,
Bangalore-560022, |
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Tel. No.: |
91-80-23370515/ 23370220 |
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Fax No.: |
91-80-23370222 |
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E-Mail : |
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Showroom: |
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Tel No.: |
91-22-32545260 |
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Area : |
Rented |
DIRECTORS
(AS ON 26.09.2011)
|
Name : |
Mr. Sanjay Agarwal |
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Designation : |
Director |
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Address : |
No. 10, |
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Date of Birth/Age : |
22.01.1958 |
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Date of Appointment : |
16.08.1980 |
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DIN No.: |
01011932 |
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Name : |
Mrs. Jaya Agarwal |
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Designation : |
Director |
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Address : |
No. 10, |
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Date of Birth/Age : |
17.11.1958 |
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Date of Appointment : |
01.02.1984 |
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DIN No.: |
01037428 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 26.09.2011)
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Names of Shareholders |
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No. of Shares |
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Sanjay Agarwal |
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1641 |
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Jaya Agarwal |
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720 |
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Arjun Agarwal |
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392 |
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Avantika Agarwal |
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242 |
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Cine Fones ( |
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5 |
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Total |
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3000 |
(AS ON 26.09.2011)
Equity Shares Break – up
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Category |
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Percentage |
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Directors or relatives of directors |
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99.00 |
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Other top fifty shareholders |
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1.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Dealer of Electronics Home Theater, Speakers etc. |
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Products : |
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Agencies Held : |
·
Jamo – Speakers ( ·
Klipsch – Home Theater ( |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Cinema Projection Equipment with Amplifier Systems |
Qty in Nos. |
150 |
-- |
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Part and Assemblies of: Projection Equipment |
Qty in Nos. |
-- |
8 |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
· Royal Bank of Scotland, Mumbai Main Branch, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountant |
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Address : |
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Tel No.: |
91-80-22274551/22274552 |
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Fax No.: |
91-80-22212437 |
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Email: |
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PAN No.: |
AAAFB9147R |
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Related Party Name : |
· Audiorama Private Limited · Monee and Company Private Limited · Ingres Systems private Limited |
CAPITAL STRUCTURE
(AS ON 26.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000 |
Equity Shares |
Rs.100/- each |
Rs.0.300
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.300 |
0.300 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
216.407 |
189.724 |
143.474 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
216.707 |
190.024 |
143.774 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
4.186 |
27.701 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
4.186 |
27.701 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.125 |
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TOTAL |
216.707 |
194.210 |
172.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.690 |
14.436 |
16.621 |
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Capital work-in-progress |
26.320 |
26.320 |
21.527 |
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INVESTMENT |
119.050 |
117.008 |
94.578 |
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DEFERREX TAX ASSETS |
1.103 |
0.871 |
0.716 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
45.451
|
35.066
|
42.601 |
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Sundry Debtors |
10.922
|
7.345
|
6.735 |
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Cash & Bank Balances |
15.940
|
4.260
|
8.889 |
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Other Current Assets |
4.604
|
4.533
|
3.330 |
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Loans & Advances |
3.232
|
3.817
|
4.850 |
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Total
Current Assets |
80.149
|
55.021
|
66.405 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
0.608
|
0.419
|
1.041 |
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Other Current Liabilities |
21.175
|
17.994
|
25.397 |
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Provisions |
5.822
|
1.033
|
0.809 |
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Total
Current Liabilities |
27.605
|
19.446
|
27.247 |
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Net Current Assets |
52.544
|
35.575
|
39.158 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
216.707 |
194.210 |
172.600 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Sales |
130.357 |
103.784 |
90.517 |
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Repairs and Service |
2.960 |
3.097 |
2.585 |
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Other Income |
26.702 |
46.561 |
9.391 |
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TOTAL |
160.019 |
153.442 |
102.493 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
117.176 |
96.964 |
114.820 |
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Advertising Expenses |
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TOTAL |
117.176 |
96.964 |
114.820 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.843 |
56.478 |
(12.327) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.508 |
2.369 |
3.030 |
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PROFIT BEFORE
TAX |
40.335 |
54.109 |
(15.357) |
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Less |
TAX |
9.468 |
7.820 |
5.804 |
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PROFIT AFTER TAX
|
30.867 |
46.289 |
(21.161) |
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Add/ Less |
PRIOR YEAR
EXPENSES/ INCOME |
0.000 |
(0.039) |
(0.079) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
132.340 |
86.090 |
107.172 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
3.200 |
0.000 |
0.000 |
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Dividend |
3.600 |
0.000 |
0.000 |
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Proposed Final Dividend |
0.584 |
0.000 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
155.823 |
132.340 |
86.090 |
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IMPORTS |
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Accessories & Spares |
34.327 |
22.997 |
NA |
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TOTAL IMPORTS |
34.327 |
22.997 |
NA |
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Earnings Per
Share (Rs.) |
10,289 |
15,430 |
(7,054) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
19.29
|
30.17
|
(20.65) |
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Net Profit Margin (PBT/Sales) |
(%) |
30.94
|
52.14
|
(16.96) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
41.23
|
77.90
|
(18.50) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.28
|
(0.11) |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.13
|
0.12
|
0.38 |
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|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.90
|
2.83
|
2.44 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
(Rs. In Millions) |
||
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Sundry Creditors
|
|
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|
-
Others
|
0.608 |
0.419 |
1.041 |
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Total |
0.608 |
0.419 |
1.041 |
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Check list by info
Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
No |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
Yes |
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No. of Employees |
No |
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Name of Person Contacted |
Yes |
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Designation of Contact person |
Yes |
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Turnover of Firm for last three years |
Yes |
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Profitability for last three years |
Yes |
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Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
No |
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Capital in the business |
Yes |
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Details of sister concerns |
Yes |
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Major Suppliers |
No |
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Major Customers |
No |
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Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
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Market Information |
----- |
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Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
Yes |
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Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
OPERATIONS:
During the year demand for Cinema Equipment and Home Cinema products
went up considerably. Efforts are being made to promote sales with emphasis
towards spreading into smaller rural areas.
FIXED ASSETS:
· Goodwill
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Office Equipments
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.55.41 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
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|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
59 |
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.