MIRA
INFORM REPORT
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Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CARD TEC ( |
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Registered Office : |
48, 3rd Cross, Vasanth Nagar, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
06.05.1997 |
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Com. Reg. No.: |
08-22207 |
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Capital
Investment / Paid-up Capital : |
Rs.3.000 Millions |
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CIN No.: [Company
Identification No.] |
U31909KA1997PTC022207 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRC01189G |
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PAN No.: [Permanent
Account No.] |
AAACC835ON |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of ID Cards, Smart Cards, ATM Cards, Scratch
Cards etc. |
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No. of Employees
: |
40 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 21000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported to be
fair. Business is active. Payments are reported to be slow but correct. 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.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Manoj Kumar Agarwal |
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Designation : |
Director |
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Contact No.: |
91-9341229002 |
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Date : |
09.07.2012 |
LOCATIONS
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Registered Office : |
48, 3rd Cross, Vasanth Nagar, Bangalore-560052, |
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Tel. No.: |
91-80-23521268 |
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Mobile No.: |
91-9341229002 [Mr. Manoj Kumar Agarwal] |
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Fax No.: |
91-80-23133809 |
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E-Mail : |
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Website : |
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Area : |
2000sq.fts. |
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Location : |
Owned |
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Corporate Office/ Factory : |
No. 38/5-11, 1st Main Road, Industrial Suburb, Yeswanthpur,
Bangalore-560022, Karnataka, India |
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Tel. No.: |
91-80-32991268/65364444 |
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Fax No.: |
91-80-23133809 |
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Branch Office : |
J -10, ODS, Lajpat Nagar IV, New Delhi-110024, India Also Located at: Mumbai |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Manoj Kumar Agarwal |
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Designation : |
Director |
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Address : |
No. 48, 3rd Cross Vesath Nagar, |
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Date of Birth/Age : |
09.09.1968 |
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Qualification : |
B. Sc., MBA, LLB |
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Date of Appointment : |
06.05.1997 |
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Din No.: |
01016719 |
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Other Directorship:
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Name : |
Ms. Nisha Agarwal |
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Designation : |
Director |
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Address : |
48, 3rd Cross, Vasanth Nagar, |
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Date of Birth/Age : |
17.08.1974 |
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Qualification : |
B. Com |
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Date of Appointment : |
27.03.2007 |
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Din No.: |
01416410 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Abharani Vinimay Private Limited, India |
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50000 |
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Manoj Kumar Agarwal |
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37200 |
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Nisha Agarwal |
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8000 |
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Agarwal Traders Private Limited, |
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30000 |
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Kamladevi Agarwal |
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9500 |
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Konark Commercial Limited, India |
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12000 |
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Metro Commercial Company Limited, India |
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20000 |
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Premier Fintrade Private Limited, India |
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10000 |
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Select Traders Private Limited, India |
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20000 |
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Southern Business Private Limited, India |
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20000 |
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Sulabh Vyapar Private Limited, India |
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20000 |
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Sunil Agarwal |
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13000 |
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Sushil Agarwal |
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40800 |
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Vimla Agarwal |
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9500 |
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Total |
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300000 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of ID Cards, Smart Cards, ATM Cards, Scratch
Cards etc. |
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Products : |
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Exports : |
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Products : |
ID Cards |
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Countries : |
·
Middle East ·
African Country |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
Italy ·
UK ·
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
·
Base Systems Private Limited |
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Customers : |
End Users ·
Lifestyle International Private Limited ·
Tata Consultancy Services Private Limited |
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No. of Employees : |
40 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Manoj Kumar Chartered Accountant |
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Address : |
#115, 3rd Floor, |
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Tel. No.: |
91-80-32967272 |
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Fax No.: |
91-80-22297272 |
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E-Mail : |
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Pan No.: |
ADKPK5424H |
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Associates/Subsidiaries : |
Address: 48, 3rd
Cross, Vasanth Nagar, Bangalore-560052, Karnataka, India Line
of Business: Manufacturer and Exporter of ID Cards, Smart Cards, ATM Cards,
Scratch Cards etc. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
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 |
3.000 |
3.000 |
3.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.306 |
1.920 |
1.771 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.306 |
4.920 |
4.771 |
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LOAN FUNDS |
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1] Secured Loans |
4.169 |
5.720 |
8.972 |
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2] Unsecured Loans |
12.417 |
12.550 |
15.857 |
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3] Canara Bank (C.C. Account) |
0.000 |
0.000 |
(0.382) |
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TOTAL BORROWING |
16.586 |
18.270 |
24.447 |
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DEFERRED TAX LIABILITIES |
0.092 |
0.111 |
0.000 |
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TOTAL |
21.984 |
23.301 |
29.218 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.285 |
10.042 |
13.729 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.774
|
5.988 |
6.119
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Sundry Debtors |
7.329
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10.140 |
8.418
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Cash & Bank Balances |
0.093
|
0.039 |
0.252
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Other Current Assets |
0.826
|
0.869 |
0.603
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Loans & Advances |
0.202
|
0.058 |
0.203
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Total
Current Assets |
17.224
|
17.094 |
15.595 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.261
|
0.384 |
(0.120) |
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Other Current Liabilities |
4.963
|
2.945 |
0.008 |
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Provisions |
0.301
|
0.506 |
0.218 |
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Total
Current Liabilities |
5.525
|
3.835 |
0.106 |
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Net Current Assets |
11.699
|
13.259 |
15.489 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
21.984 |
23.301 |
29.218 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
31.015 |
31.443 |
21.665 |
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Other Income |
0.000 |
(0.046) |
0.000 |
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TOTAL (A) |
31.015 |
31.397 |
21.665 |
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Less |
EXPENSES |
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Cost of material consumed |
23.405 |
21.578 |
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Employee benefit expenses |
1.946 |
1.481 |
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Other expenses |
3.803 |
2.694 |
19.644 |
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Changes in inventories of finished goods, work in progress and stock
in trade |
(2.786) |
0.130 |
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TOTAL (B) |
26.368 |
25.883 |
19.644 |
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Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.647 |
5.514 |
2.021 |
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Less |
FINANCIAL
EXPENSES (D) |
2.347 |
2.652 |
0.000 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.300 |
2.862 |
2.021 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.808 |
2.423 |
1.723 |
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PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.492 |
0.439 |
0.298 |
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Less |
TAX (H) |
0.105 |
(0.392) |
0.215 |
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PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.387 |
0.831 |
0.083 |
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Earnings /
(Loss) Per Share (Rs.) |
1.29 |
0.28 |
-- |
|
%20PRIVATE%20LIMITED%20-%20185948%2012-Jul-2012_files/image001.gif){kind=small}
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Particulars |
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|
31.03.2012 |
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Sales Turnover [Approximately] |
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|
36.000 |
Expected Sales (2012-13) : Rs.50.000 Millions.
The above information has been parted by Mr. Manoj Kumar Agarwal.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.25
|
2.65 |
0.38 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.59
|
1.40 |
1.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.79
|
1.62 |
1.02 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.09 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.17
|
4.49 |
5.15 |
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Current Ratio (Current Asset/Current Liability) |
|
3.12
|
4.45 |
147.12 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
FINANCIAL RESULTS:
The operations of the
company have resulted in Net Profit of Rs.0.387 Millions for the year ended
31-03-2011 after providing depreciation of Rs.1.808 Millions and after creating
a provision for deferred tax liability of Rs. (0.019) Million as per Accounting
Standard 22 issued by the Institute of Chartered Accountants of India.
The company was
able to achieve a turnover of Rs.31.015 Millions. The Directors are confident
that in the coming years, the company will be able to achieve a higher turnover
and profit.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90200960 |
|
Corporate
identity number of the company |
U31909KA1997PTC022207 |
|
Name of the
company |
CARD TEC (INDIA) PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
48, 3rd Cross, Vasanth Nagar, Bangalore-560052, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
Canara Bank, Infantry
Road Branch, No.91, Infantry Road, Bangalore – 560001, Karnataka, India Email: cb11168@canbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement |
|
Date of
instrument Creating the charge |
27.02.2012 |
|
Amount secured by
the charge |
Rs.12.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.25% p.a. Terms of
Repayment OCC - Running
account repayable on demand TL - Entire loan
to be repaid within 60 moths in 59 EMIs of Rs.93,350/- commencing from one
month after the date of disbursement Margin OCC - 25% on
stocks and 40% on stocks TL - 25% Extent and
Operation of the charge The charge shall
operate to the extent of the loan amount plus interest commission costs expenses
and other charges thereon Others The said amount
of Rs.12.000 Millions comprises OCC Rs.8.000 Millions and TL Rs.4.000
Millions |
|
Short particulars
of the property charged |
First charge by
way of hypothecation of stocks, book debts, plant, machineries and other
movables both present and future stored/installed at company premises at No.38/5-11, 2nd
floor, 1st Main Road, Industrial Suburb, Yeshwanthpur, Bangalore 560022 or at
any other place |
|
Date of latest
modification prior to the present modification |
04.09.2008 |
|
Particulars of
the present modification |
By the above, the
amount secured by charge stands revised from Rs.16.500 Millions to Rs.12.000
Millions (all other terms
and conditions remain unchanged) |
FIXED ASSETS:
- Plant and Machinery
- Computers and Peripherals
- Furniture and Fixture
- Office Equipment
- Electrical Assets
- 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.55.37 |
|
|
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.