MIRA
INFORM REPORT
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Report Date : |
04.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MICROLINK SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
70, Nalanda Complex, Vastrapur, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
04.06.1996 |
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Com. Reg. No.: |
04-029818 |
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Capital Investment / Paid-up Capital : |
Rs.2.275 Millions |
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CIN No.: [Company
Identification No.] |
U30009GJ1996PTC029818 |
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TAN No.: [Tax Deduction & Collection Account No.] |
AHMM002543B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is a Network Consultant, System Integrator and a Complete IT
Solutions Provider. |
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No. of Employees : |
250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 92000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory 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. Vaishali |
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Designation : |
Sales Head |
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Contact No.: |
91-79-26927683 |
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Date : |
02.06.2012 |
LOCATIONS
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Registered Office/ Project Office : |
70, Nalanda Complex, Vastrapur, Premchand Nagar Road, Ahmedabad-
380015, Gujarat, India. |
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Tel. No.: |
91-79-26747556/ 26747561 |
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Fax No.: |
91-79-26767597/26747561 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
10, 2nd Floor, Sarthik, Near Fun Republic Multiplex,
Satellite, Ahmedabad- 380015, Gujarat, India. |
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Tel. No.: |
91-79-26927683/ 26927684 |
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Fax No.: |
91-79-26927686 |
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E-Mail : |
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Branch Office : |
211,Rajhans Complex, Near Nirmal Children Hospital, Opposite J. K. Tower, Opposite Sub Jail, Surat, 395002, Gujarat. India |
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Tel. No.: |
91-261-2360077 |
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E-mail : |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Ketan Natwarlal Khimani |
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Designation : |
Whole-time Director |
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Address : |
G/34, Takshashila Apartment, |
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Date of Birth/Age : |
11.12.1965 |
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Date of Appointment : |
04.06.1996 |
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DIN No.: |
00874717 |
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Name : |
Mr. Amit Manubhai Dave |
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Designation : |
Whole-time Director |
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Address : |
29, Ramnagar Society, Opposite Swami Narayan Wadi, Maninagar,
Ahmedabad- 380008, |
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Date of Birth/Age : |
29.08.1970 |
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Date of Appointment : |
04.06.1996 |
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DIN No.: |
00874717 |
KEY EXECUTIVES
|
Name : |
Ms. Vaishali |
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Designation : |
Sales Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
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No. of Shares |
|
Ketan Natwarlal Khimani |
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86600 |
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Amit Manubhai Dave (HUF) |
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10 |
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Natwerlal K. Khimani (HUF) |
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10 |
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Ashvin Natwerlal Khimani (HUF) |
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10 |
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Netvision Technologies Private Limited, India |
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140700 |
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Natwerlal K. Khimani |
|
100 |
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Total |
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227430 |
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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Bodies
corporate |
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61.85 |
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Directors
or relatives of directors |
|
38.15 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is a Network Consultant, System Integrator and a Complete IT Solutions
Provider. |
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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 : |
· Netgear · Aarya Ites Limited · Anda Telecom · Arvind Mathur and Company · Compuage Infocom · Dax Networks Limited · Dell India Private Limited · Exelean Networking Private Limited · Grainger Industrial Supply Private Limited · Honey Well International India Private Limited · Ideal System Private Limited · Microserve Solution Private Limited · Nerserve Technologies Private Limited · Online Netsys Private Limited · Ses Technologies Limited · Westcon India Private Limited |
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Customers : |
OEM’S Manufacturing ·
Ingersoll Rand, Naroda, Ahmedabad ·
Dresser Rand, Naroda, Ahmedabad ·
Adani Exports Limited, ·
Adani Willmar Limited, ·
Adani Ports Limited, Ahmedabad and Mundra ·
Asea Brown Boveri and Adtranz (Transport
Division), Baroda ·
Gujarat Gas Company Limited, Ahmedabad, Surat and
Ankleshwar ·
Bosch Rexroth (India) Limited, Vatva, Ahmedabad ·
Nirma Group, Nirma House, Ahmedabad ·
Nirma Soda-Ash, Bhavnagar ·
L and T, Chiyoda and L and T Energy, Baroda ·
L and T, ECC Group ·
Hindustan Ink, Vapi ·
Bongaingaon Refinery, Assam ·
Dairyden Eng., Gandhinagar ·
AIA Engineers Limited, Ahmedabad ·
Masibus, Gandhinagar ·
Rolex Ind., Rajkot Government ·
Space Application Center (ISRO), Ahmedabad ·
Sachivalaya, Gandhinagar (For Tata Telecom) ·
Physical Research Laboratory, Ahmedabad ·
Institute of Plasma Research, Bhat, Ahmedabad ·
ONGC-IRS, Chandkheda, Ahmedabad ·
ONGC, Ankleshwar (For Tata Telecom) ·
ONGC, Cambey ·
Airport Authority of India, Ahmedabad ·
AG Office, Ahmedabad andRajkot ·
Center for Environment Education, Ahmedabad ·
Sabar Dairy, Himmatnagar ·
Kandla Port Trust, Kandla Educational
Institutes ·
Gujarat Agricultural University, 5 Locations ·
Indian Institute of Management, Ahmedabad ·
National Institute of Design, Ahmedabad ·
Nirma Institute of Management, Ahmedabad ·
Aatmiya Institute of Tech., Rajkot ·
Virani college of Science, Rajkot ·
SNK school, Rajkot Pharmaceuticals ·
Torrent Pharma Limited, Ahmedabad ·
Cadila Pharma Limited, 4 locations in Gujarat ·
Claris Lifesciences Limited, Ahmedabad Banks and
Services ·
Nabard, Ahmedabad ·
Corporation Bank, 12 branches in Gujarat ·
Dena Bank, 10 branches in Gujarat ·
Bank of Baroda, 10 branches in Gujarat ·
State Bank of India, Ahmedabad HO ·
Bhuj Mercantile Bank, Bhuj ·
Hotel Holiday Inn, Baroda ·
Hotel Fortune Landmark, Ahmedabad ·
Times of India, Ahmedabad and Baroda ·
Sandesh Limited, Ahmedabad IT (Software,
ISP, MT) and Telecom ·
PCS, Gandhinagar ·
Contech Softwares, Gandhinagar ·
Avinash Infotech, Ahmedabad ·
Saral Infotech, Ahmedabad ·
Icall (Call Center), Ahmedabad ·
Baeurer Infotech Limited, Ahmedabad ·
Fascel Limited, 6 locations in Gujarat ·
Bharti Cellular, Ahmedabad ·
Tata Teleservices Limited, Ahmedabad ·
Vodafona ·
Icenet, Ahmedabad ·
Blazenet, Ahmedabad ·
Jhaveri Securities, Baroda ·
Navkar Investment, Anand ·
STPI, Gandhinagar ·
Institute of Management Tchnology, Gaziabad |
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No. of Employees : |
250 (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 : |
Madhusudan C Mashruwala and Company Chartered Accountants |
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Address : |
301-303, Akik, Mithakhali, Ahmedabad- 380006, |
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Tel. No.: |
91-79-26462430/ 26467183 |
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PAN No.: |
AACFM4776H |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- Each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
227430 |
Equity Shares |
Rs.10/- Each |
Rs.2.274 Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- Each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
227500 |
Equity Shares |
Rs.10/- Each |
Rs.2.275 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 |
2.275 |
2.275 |
2.274 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.672 |
16.905 |
13.579 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.947 |
19.180 |
15.853 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.147 |
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2] Unsecured Loans |
44.170 |
35.820 |
24.000 |
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TOTAL BORROWING |
44.170 |
35.820 |
24.147 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
67.117 |
55.000 |
40.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.420 |
2.246 |
2.586 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
9.306 |
0.045 |
18.181 |
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DEFERREX TAX ASSETS |
0.178 |
0.181 |
0.160 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
12.320
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18.278
|
2.630
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Sundry Debtors |
32.230
|
33.738
|
21.716
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Cash & Bank Balances |
9.503
|
5.597
|
1.164
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Other Current Assets |
16.828
|
19.447
|
2.715
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Loans & Advances |
6.475
|
11.346
|
9.551
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Total
Current Assets |
77.356
|
88.406 |
37.776
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
19.938
|
34.077
|
16.424 |
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Current Liabilities |
0.000
|
0.000
|
0.000 |
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Provisions |
2.205
|
1.800
|
2.279 |
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Total
Current Liabilities |
22.143
|
35.878 |
18.703
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Net Current Assets |
55.213
|
52.528 |
19.073
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
67.117 |
55.000 |
40.000 |
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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 |
125.984 |
88.727 |
62.246 |
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Other Income |
53.364 |
42.302 |
50.455 |
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TOTAL |
179.348 |
131.029 |
112.701 |
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Less |
EXPENSES |
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Purchase |
|
87.216 |
49.166 |
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Direct Expenses |
|
0.235 |
0.186 |
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Payment to and provision for Employees |
|
7.031 |
6.463 |
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Fringe Benefit Tax |
|
0.000 |
0.079 |
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Administration and General Expenses |
|
48.364 |
50.696 |
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Loss on Theft of Laptop |
|
0.000 |
0.033 |
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Service Tax Paid (Audit) |
|
0.000 |
0.716 |
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Loss on sale of tea machine |
|
0.000 |
0.000 |
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(Increase)/Decrease in stock |
|
(15.648) |
1.835 |
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TOTAL |
173.299
(Including Depreciation) |
127.198 |
109.174 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.831 |
3.527 |
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Less/ Add |
DEPRECIATION/ AMORTISATION |
|
0.525 |
0.599 |
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PROFIT BEFORE
TAX |
6.049 |
3.306 |
2.298 |
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Less |
TAX |
2.282 |
0.000 |
0.0960 |
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PROFIT AFTER TAX
|
3.767 |
3.306 |
1.968 |
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Add |
DEFERRED TAX |
0.000 |
0.020 |
0.000 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.905 |
13.579 |
11.611 |
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BALANCE CARRIED
TO THE B/S |
20.672 |
16.905 |
13.579 |
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Earnings Per Share
(Rs.) |
7.53 |
-- |
-- |
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Particulars |
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|
31.03.2012 |
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Sales Turnover (Approximately) |
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|
150.000 |
Expected Sales (2012-2013) : Rs.160.000 Millions
The above information has been parted by Ms. Vaishali.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.10 |
2.52 |
1.75 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.99
|
3.73 |
3.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.58
|
3.65 |
5.69 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.17 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.89
|
3.74 |
2.70 |
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Current Ratio (Current Asset/Current Liability) |
|
3.49
|
2.46 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
(Rs. In Millions)
|
Particulars
|
31.03.2011 |
30.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
-
Creditors
for Goods |
19.250 |
31.617 |
16.299 |
|
-
Creditors
for Expenses |
0.688 |
2.460 |
0.125 |
|
Total |
19.938
|
34.077
|
16.424 |
Details of Sundry Creditors: (Partial)
|
Particular |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Creditors for Goods |
|
|
|
Aarya Ites Limited |
0.014 |
0.109 |
|
Dax Networks Limited |
0.575 |
10.698 |
|
Exelan Networking Technologies |
0.478 |
0.022 |
|
Ideal Computer Services |
0.002 |
0.066 |
|
Creditors for
Expenses |
|
|
|
Bharat Sanchar Nigam Limited |
0.004 |
0.005 |
|
Idea Cellular Limited |
0.009 |
0.006 |
|
V.S.N.L. |
0.006 |
0.002 |
|
Madhusudan C. Mashruwala and Company |
0.051 |
0.024 |
|
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 |
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
Financial Result:
The Company has achieved sale of Rs.125.984 Millions during the year.
The company has earned profit of Rs.3.767 Millions after providing depreciation
of Rs.0.558 Million.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of charge |
|
Corporate
identity number of the company |
U30009GJ1996PTC029818 |
|
Name of the
company |
MICROLINK SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
70, Nalanda Complex, Vastrapur, Premchand Nagar Road, Ahmedabad-
380015, Gujarat, India. E-mail : pinakincs@yahoo.com |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
ICICI Bank, Ground Floor, Shivalik 2, Ahendabad-380015, Gujarat, India E-mail : mailvg.ca@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation |
|
Date of
instrument Creating the charge |
25.10.2011 |
|
Amount secured by
the charge |
Rs.12.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of
Interest: I Base + 3.50% Terms of Repayment: Not Applicable as
this is an overdraft facility Margin: Not Applicable as
this is an overdraft facility Extent and
Operation of the charge: First Charge on
the book debts and movable properties being current assets of the company. |
|
Short particulars
of the property charged |
Book debts and
all current assets. |
Fixed Assets:
- Air Conditioner
- Computer
- Furniture and Fixture
- Office Equipments
- Plant and Machinery
- Kinetic Honda
- Motor Car
- Mobile Phone
- Computer Software (Pay Roll)
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.55.93 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION
DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared by
: |
BSN |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.