MIRA
INFORM REPORT
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Report Date : |
19.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GCS AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
D/3/52, Bharucha Baug, S. V.
Road, Andheri (West), Mumbai-400058, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.08.2001 |
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Com. Reg. No.: |
11-132973 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.300 Million |
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CIN No.: [Company Identification
No.] |
U72502MH2001PTC132973 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG09550C MUMG09187D |
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PAN No.: [Permanent Account No.] |
AABCG8351Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Service Provider of Computer
hardware, company pc, laptops, printers, multi funtion. computer peripherals,
networking products, anti virus, cctv, access control |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 25000 |
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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 for small to mediocre 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.
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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India |
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 |
LOCATIONS
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Registered Office : |
D/3/52, Bharucha Baug, S. V. Road,
Andheri (West), Mumbai-400058, Maharashtra, India |
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Tel. No.: |
91-22-40457777 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Marketing Office : |
301, Eco Space IT Park, Mogra Lane Road, Andheri (East), Mumbai
400069, Maharashtra, India |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Cyrus Dolasha |
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Designation : |
Chairman cum Managing Director |
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Address : |
D/3/52, Bharucha Baug, S. V.
Road, Andheri (West), Mumbai-400058, Maharashtra, India |
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Date of Birth/Age : |
14.05.1966 |
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Date of Appointment : |
06.08.2001 |
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DIN No.: |
00581139 |
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Name : |
Mr. Gulrukh Dolasha |
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Designation : |
Director |
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Address : |
D/3/52, Bharucha Baug, S. V.
Road, Andheri (West), Mumbai-400058, Maharashtra, India |
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Date of Birth/Age : |
27.10.1963 |
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Date of Appointment : |
06.08.2001 |
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DIN No.: |
01149370 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
No. of Shares |
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Cyrus Dolasha |
15000 |
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Gulrukh Dolasha |
15000 |
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Total |
30000 |
AS ON 30.09.2011
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Equity Shares
Break Up |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Service Provider of Computer hardware,
company pc, laptops, printers, multi funtion. computer peripherals,
networking products, anti virus, cctv, access control |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
The Zoroastrian Co-operative Bank Limited,
Andheri Branch, Shop No. 2 and 3, Parsian Co-operative Housing Society, V. P.
Road, Andheri (West), Mumbai-400058, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Harish Nathani and Associates Chartered Accountant |
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Address : |
B-501, 5th Floor, Sahayog Cho-operative Housing Society
Limited, S. V. Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Tel. No.: |
91-22-28090713 |
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Mobile No.: |
91-9821362995 |
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E-Mail : |
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Pan No.: |
AAAPN5917B |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- 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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30000 |
Equity Shares |
Rs.10/- each |
Rs. 0.300
Million |
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Note:
20000 Equity shares of Rs. 10/- each fully
paid up have been issued as bonus shares during the year 2006-2007.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
5.961 |
5.536 |
2.889 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.261 |
5.836 |
3.189 |
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LOAN FUNDS |
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1] Secured Loans |
0.576 |
3.529 |
8.018 |
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2] Unsecured Loans |
0.107 |
0.154 |
0.590 |
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TOTAL BORROWING |
0.683 |
3.683 |
8.608 |
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DEFERRED TAX LIABILITIES |
0.503 |
0.535 |
0.564 |
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TOTAL |
7.447 |
10.054 |
12.361 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.148 |
9.786 |
11.572 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.068 |
0.069 |
0.069 |
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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 |
0.058
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0.078 |
0.097 |
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Sundry Debtors |
1.692
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1.949 |
1.842 |
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Cash & Bank Balances |
2.178
|
1.892 |
1.331 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.731
|
0.461 |
0.306 |
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Total
Current Assets |
4.659
|
4.380 |
3.576 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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Provisions |
0.649
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0.432 |
0.246 |
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Total
Current Liabilities |
6.428
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4.182 |
2.857 |
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Net Current Assets |
(1.769)
|
0.198 |
0.719 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.001 |
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TOTAL |
7.447 |
10.054 |
12.361 |
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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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20.967 |
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Other Income |
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TOTAL |
25.188 |
20.967 |
18.212 |
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PROFIT AFTER TAX
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0.425 |
0.692 |
0.170 |
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Earnings Per
Share (Rs.) |
14.17 |
-- |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total
Income |
(%) |
1.69
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3.30 |
0.93 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.22
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1.44 |
3.77 |
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Current Ratio (Current Asset/Current Liability) |
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0.72
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1.05 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
The Company has posted a profit after tax of Rs. 0.425 Million (previous
year Rs. 0.692 Million) on a Gross receipt of Rs. 21.188 Millions (previous
year Rs. 20.967 Millions). The management is optimist that it will be able to
perform much better in coming years.
FIXED ASSETS
·
Office Premises
·
Office Equipments
·
Air Conditioner
·
Pagers and Telephones
·
Furniture and Fixture
·
Computers
WEBSITE DETAILS
PROFILE
Subject was
established in 1995. The company initially started on a small note with just
the proprietor and two staff members in the field of sales of office automation
products such as electronic typewriters and facsimile machines. With the
expansion of their business, they ventured into the field of Information
Technology with sales, service and repairs of branded and assembled systems.
What
started off as a small venture in service, has gone from strength to strength. They
now cater to a huge client base of more than 1400 dedicated clientele. Today they
have a dynamic force of 50 plus trained service engineers. They cover whole of
Mumbai, Navi Mumbai, Thane and parts of Maharashtra and Gujrat.
Keeping
in tune with the industry, they have now spread our wings in the fields of
software and web designing making them a “ONE STOP IT SHOP” for all the
hardware and software solutions. They offer a wide range of services ranging
from web domain registration to website development to software solutions. They
build customized solutions keeping their client's requirements in mind which
combines cutting-edge technology with keen business acumen.
At GCS
they believe that leadership is about taking initiative and being accountable. They
have always lived by this mantra and have always provided best service to all their
clients irrespective of their size. Looking ahead they are confident in their
ability to provide better and improved services to their customers, which is
the key strength to their success.
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. 50.31 |
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|
1 |
Rs. 79.04 |
|
Euro |
1 |
Rs. 65.82 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
-- |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
43 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.