|
Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
HARRYSON INFOTECH SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1-C, Shantivan Apartment, Near Sneh Sankool, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.07.2001 |
|
|
|
|
Com. Reg. No.: |
04-039741 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.330 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ2001PTC039741 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Provide IT networking services |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 26000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 : |
Mr. Shiju |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9978956020 |
|
Date : |
19.06.2012 |
LOCATIONS
|
Registered Office : |
1-C, Shantivan Apartment, Near Sneh Sankool, Anand Mahal Road, Surat –
395009, Gujarat, India |
|
Tel. No.: |
91-261-2733802 |
|
Mobile No.: |
91-9824113802 (Mr. Michael) |
|
Fax No.: |
91-261-2730866 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1350 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Michael Sebastian Thannimoottil |
|
Designation : |
Director |
|
Address : |
1-C, Shantivan Apartment, Opposite Panchratna Society, Bhulka Bhavan,
Adajan, |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
06.07.2001 |
|
DIN No.: |
01169502 |
|
|
|
|
Name : |
Mr. Savio Sebastian Thannimoottil |
|
Designation : |
Director |
|
Address : |
C-103, New Sun City, Behind Shree Ram Petrol Pump, Anand Mahal Road,
Surat – 395006, Gujarat, India |
|
Date of Birth/Age : |
02.05.1974 |
|
Date of Appointment : |
06.07.2001 |
|
DIN No.: |
01169479 |
|
|
|
|
Name : |
Mr. Donbosco Sebastian Tanimootil |
|
Designation : |
Director |
|
Address : |
C-103, New Sun City, Behind Shree Ram Petrol Pump, Anand Mahal Road,
Surat – 395006, Gujarat, India |
|
Date of Birth/Age : |
14.04.1960 |
|
Date of Appointment : |
05.09.2002 |
|
DIN No.: |
02478350 |
|
|
|
|
Name : |
Mr. Sebastin Thannimootil |
|
Designation : |
Director |
|
Address : |
1-C, Shantivan Apartment, Opposite Panchratna Society, Bhulka Bhavan,
Adajan, |
|
Date of Birth/Age : |
12.05.1966 |
|
Date of Appointment : |
05.09.2002 |
|
DIN No.: |
02485831 |
KEY EXECUTIVES
|
Name : |
Mr. Shiju |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Donbosco Sebastian Tanimootil |
|
5000 |
|
Mr. Michael Sebastian Thannimoottil |
|
5000 |
|
Mr. Savio Sebastian Thannimoottil |
|
17000 |
|
Mr. Sebastin Thannimootil |
|
6000 |
|
Total |
|
33000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide IT networking services |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Corporate ·
Essar Steel India Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
35 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
The Catholic Syrian Bank Limited, Head Office, “CSB Bhavan”, Post Box
No. 502, St. Mary’s CIN No.: U65191KL1920PLC000175 |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
TL – Rs. 3.500 Millions, OD – Rs. 3.000 Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agarwal Goyal and Company Chartered Accountants |
|
Address : |
A/2009-10, Shiv Krupa Market, |
|
Tel. No.: |
91-261-2335109/ 6501244 |
|
Mobile No.: |
91-9328784084 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFA5109H |
|
|
|
|
Sister Concern : |
Harryson Associates |
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
33000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.330
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.330 |
0.330 |
0.330 |
|
|
2] Share Application Money |
0.545 |
0.545 |
0.545 |
|
|
3] Reserves & Surplus |
5.847 |
3.117 |
0.661 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.722 |
3.992 |
1.536 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.538 |
8.157 |
2.249 |
|
|
2] Unsecured Loans |
1.670 |
2.090 |
0.591 |
|
|
TOTAL BORROWING |
5.208 |
10.247 |
2.840 |
|
|
DEFERRED TAX LIABILITIES |
0.119 |
0.117 |
0.109 |
|
|
|
|
|
|
|
|
TOTAL |
12.049 |
14.356 |
4.485 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.390 |
1.616 |
1.696 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.768
|
0.547 |
0.267 |
|
|
Sundry Debtors |
18.280
|
31.148 |
9.928 |
|
|
Cash & Bank Balances |
0.012
|
0.012 |
0.373 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.809
|
0.796 |
0.501 |
|
Total
Current Assets |
23.869
|
32.503 |
11.069 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.227
|
16.830 |
5.117 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
2.983
|
2.933 |
3.163 |
|
Total
Current Liabilities |
13.210
|
19.763 |
8.280 |
|
|
Net Current Assets |
10.659
|
12.740 |
2.789 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.049 |
14.356 |
4.485 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
76.921 |
71.319 |
49.187 |
|
|
|
Other Income |
0.284 |
0.585 |
0.884 |
|
|
|
TOTAL |
77.205 |
71.904 |
50.071 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
50.237 |
52.016 |
39.556 |
|
|
|
Direct Expenses |
15.101 |
12.295 |
6.732 |
|
|
|
Indirect Expenses |
1.639 |
1.213 |
1.094 |
|
|
|
Directors Remuneration |
5.888 |
2.050 |
1.810 |
|
|
|
TOTAL |
72.865 |
67.574 |
49.192 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.340 |
4.330 |
0.879 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.516 |
0.143 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.340 |
3.814 |
0.736 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.225 |
0.247 |
0.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.115 |
3.567 |
0.461 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.385 |
1.107 |
0.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
2.730 |
2.460 |
0.302 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
82.73 |
74.55 |
9.15 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
77.300 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 90.000 Millions
The above information has been parted by Mr. Shiju (Accounts Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.54
|
3.42 |
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.35
|
5.00 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.29
|
10.45 |
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.89 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.74
|
7.52 |
7.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.64 |
1.34 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constitution of the firm |
Yes |
|
4. Premises details |
Yes |
|
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 |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
No |
|
21. Market information |
-- |
|
22. Litigations that the firm / promoter involved |
-- |
|
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 |
SUNDRY CREDITORS:
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Akash Fan and
Lighting |
0.155 |
-- |
-- |
|
Altima Hi Tech
Private Limited |
0.271 |
-- |
-- |
|
As Per Separate
Sheet |
0.000 |
16.830 |
5.117 |
|
Avtaar Electric
Corporation |
0.102 |
-- |
-- |
|
Comnet Resources
Private Limited |
0.056 |
-- |
-- |
|
Compuage Infocom
Limited |
0.020 |
-- |
-- |
|
Darpan Corporation |
0.016 |
-- |
-- |
|
Exelan Networking
Technologies Private Limited |
3.452 |
-- |
-- |
|
Ingram Micro India
Limited |
0.098 |
-- |
-- |
|
Ivalue Systech
Private Limited |
0.184 |
-- |
-- |
|
|
0.673 |
-- |
-- |
|
Mamta Electrical
And Communication |
0.015 |
-- |
-- |
|
Naresh Electronics |
0.056 |
-- |
-- |
|
National Power
Tools |
0.008 |
-- |
-- |
|
Ocean Techno
Systems |
0.007 |
-- |
-- |
|
Redigton India
Private Limited |
2.077 |
-- |
-- |
|
S Kumar Computer
Private Limited |
0.126 |
-- |
-- |
|
S S Marketings |
1.037 |
-- |
-- |
|
Solnet Trading
Corporation |
0.034 |
-- |
-- |
|
Valrack Modular
Systems Private Limited |
0.235 |
-- |
-- |
|
Yash Marketing |
1.605 |
-- |
-- |
|
Total |
10.227 |
16.830 |
5.117 |
FINANCIAL RESULTS
The Profit and Loss Account of the company shows a Net
Profit amounting to Rs. 4.116 Millions
TRADE REFERENCES
Essar Steel India Limited
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72200GJ2001PTC039741 |
|
Name of the
company |
HARRYSON INFOTECH
SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1-C SHANTIVAN APARTMENTNR SNEH SANKOOL 395009 |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Others (Stock in
Trade) |
|
Particular of
charge holder |
CIN No.: U65191KL1920PLC000175 The Catholic Syrian
Bank Limited Head Office, "CSB
Bhavan", Post Box No. 502, St.
Mary's Email ID: board@csb.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation - Dated 24 April 2009 |
|
Date of
instrument Creating the charge |
24.04.2009 |
|
Amount secured by
the charge |
Rs. 3.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 15.25% Terms of Repayment Repayable on
Demand Margin 50% on book debt 25% on stock in
trade Extent and Operation of the charge Repayable on
Demand |
|
Short particulars
of the property charged |
1) Land and
Building under SY. No. 30/2/1 in Kanjirapally, Kerala, in the name of Shri
Michael Sebastian 2) Land and
Building under SY. No. 266/4C and 4D in Kanjirapally, Kerala in the name of
Shri Don Bosco 3) Residential
Flat under SY. No. 209/2 (C-103, New Suncity Flats) in the name of Shri Don
Bosco 4) Residential
Flat under SY. No. 230 (C-1, Shantivan Apartment) in the name of Shri Michael
Sebastian |
FIXED ASSETS
· Plant and Machinery
· Cycle
· Digital Camera
· Furniture and Fixtures
· Computer
· Jeep
·
·
Bolero Vehicle
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. 56.01 |
|
|
1 |
Rs. 87.85 |
|
Euro |
1 |
Rs. 70.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.