MIRA INFORM REPORT

 

 

Report Date :

24.03.2012

 

IDENTIFICATION DETAILS

 

Name :

CAPITAL FORTUNES FINANCIAL SERVICES LIMITED (w.e.f 05.06.1996)

 

 

Formerly Known As :

CAPITAL FORTUNE LIMITED

 

 

Registered Office :

6-3-649/1, 1st Floor, Nalanda Apartments, Somajiguda, Hyderabad – 500082, Andhra Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

18.02.1995

 

 

Com. Reg. No.:

01-022621

 

 

Capital Investment / Paid-up Capital :

Rs.96.000 Millions

 

 

CIN No.:

[Company Identification No.]

U65910AP1995PLC022621

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDC02521B

 

 

PAN No.:

[Permanent Account No.]

AAACC8147K

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Professional Advisory Services

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 450000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively small company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow.

 

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

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOCATIONS

 

Registered Office :

6-3-649/1, 1st Floor, Nalanda Apartments, Somajiguda, Hyderabad – 500082, Andhra Pradesh

Tel. No.:

91-40-23310560

Fax No.:

Not Available

E-Mail :

sriram@capitalfortunes.com

contact@capitalfortunes.com

Website :

http://www.capitalfortunes.com

 

 

Branch Office :

Located at:

 

  • Hyderabad
  • Bangalore
  • Delhi

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. Uppaluri Bala Gangadharasarma Sriram

Designation :

Whole-time director

Address :

3-6-185/1, Flat No.204, Tejasvi Shanti Sheel Towers, Himayat Nagar, Hyderabad – 500029, Andhra Pradesh, India

Date of Birth/Age :

14.06.1951

Date of Appointment :

18.12.1995

DIN No.:

01686680

Other Directorship:

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U65910AP1995PLC022621

CAPITAL FORTUNES FINANCIAL SERVICES LIMITED

Whole-time director

01-04-08

18-12-95

-

Active

NO

2

U72200AP1991NPL012482

KRIYA SOCIAL SERVICES

Director

21-05-96

21-05-96

-

Active

NO

3

U74300AP1994PTC017808

CAPITAL FORTUNES VENTURES PRIVATE LIMITED

Director

17-05-05

17-05-05

-

Active

NO

4

U40104AP2001PLC037125

SREE VENKATESWARA POWER & UTILITIES LIMITED

Director

30-09-10

11-01-10

29-11-10

Active

NO

5

U40300AP2004PTC044058

Oorja Infraenergy Solutions Private Limited

Director

21-03-11

21-03-11

-

Active

NO

 

 

 

 

Name :

Mr. Adipudi Soma  Krishna Raju

Designation :

Director

Address :

D.No. 4-5-16/1, 2nd Line, Vidya Nagar, Ring Road, Guntur-522007, Andhra Pradesh, India

Date of Birth/Age :

22.01.1950

Date of Appointment :

18.02.2005

DIN No.:

00043570

Other Directorship:

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U52300AP1946PTC000253

A S KRISHNA AND CO PVT LTD

Managing director

28-04-97

28-04-97

-

Active

NO

2

U65910AP1995PLC022621

CAPITAL FORTUNES FINANCIAL SERVICES LIMITED

Director

18-02-05

18-02-05

-

Active

NO

3

U72300AP2008PTC060874

A S KRISHNA I.T. PRIVATE LIMITED

Director

08-09-08

08-09-08

-

Active

YES

 

 

Name :

Mr. Adipudi Lalitha

Designation :

Director

Address :

New White House, Ring Road, Guntur-522007, Andhra Pradesh, India

Date of Birth/Age :

07.03.1952

Date of Appointment :

29.09.2001

DIN No.:

01699728

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders (Equity Share)

 

No. of Shares

M.N. Uma Bhaskar

8-2-472/6, Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

25150

Uppaluri Sriram

Flat No.204, Tejashwini Shanti Sheel Towers, 3-6-185/1&2, Hymayatnagar, Hyderabad- 500029, Andhra Pradesh, India

 

210

M. Aparna

Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

210

Bhaskara Rao

8-2-472/6, Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

200

Sairam Mocherla

8-2-472/6, Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

210

A Soma Raji

New White House, Ring Road, Guntur-522007, Andhra Pradesh, India

 

948800

B. S. Chakravarthy

Flat No.203, Krishan Doyen Hermitage Apts, Shanti Nagar, Hyderabad-500029, Andhra Pradesh, India

 

210

A Lalitha Raju

New White House, Ring Road, Guntur-522007, Andhra Pradesh, India

 

50000

Capital Fortunes Private Limited

8-2-698, F.No.403, 5th Floor, M.J.Towers, Road No.12, Banjara Hills, Hyderabad- 500 034, Andhra Pradesh, India

 

4575000

Rajesh Khurana

5-9-29/10/2, Basheerbaghm, Hyderabad- 500 029, Andhra Pradesh, India

 

10

TOTAL

 

5600000

 

Names of Shareholders (Equity Share)

 

No. of Shares

Capital Fortunes Private Limited

8-2-698, F.No.403, 5th Floor, M.J. Towers, Road No.12, Banjara Hills, Hyderabad- 500 034, Andhra Pradesh, India

 

4000000

TOTAL

 

4000000

 

As on 11.12.1995

 

Names of Shareholders (Equity Share)

 

No. of Shares

M.N. Uma Bhaskar

8-2-472/6, Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

10

Uppaluri Sriram

Flat No.204, Tejashwini Shanti Sheel Towers, 3-6-185/1&2, Hymayatnagar, Hyderabad- 500029, Andhra Pradesh, India

 

10

M. Aparna

Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

10

Bhaskara Rao

8-2-472/6, Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

10

Sairam Mocherla

8-2-472/6, Road No.4, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

 

10

A Soma Raji

New White House, Ring Road, Guntur-522007, Andhra Pradesh, India

 

10

B. S. Chakravarthy

Flat No.203, Krishan Doyen Hermitage Apts, Shanti Nagar, Hyderabad-500029, Andhra Pradesh, India

 

10

TOTAL

 

70

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2011

 

Category

Percentage

Bodies corporate

41.67

Directors or relatives of Directors

58.33

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Professional Advisory Services.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

Not Available

 

 

Facilities :

Secured Loan

As on

31.03.2011

(Rs. in

Millions)

As on

31.03.2010

(Rs. in

Millions)

Loan Taken from Vehicle Secured

0.732

3.635

Total

0.732

3.635

 

Banking Relations :

--

 

 

Financial Institution :

Capital Fortunes L T B, 6-3-649, 1st Floor, Hyderabad – 500082, Andhra Pradesh, India

 

 

Auditors :

 

Name :

P V Narayana Rao and Co

Chartered Accountant

Address :

Flat No. 103, Vaishnavi Apartment, Lalitha Nagar, Hyderabad – 500044, Andhra Pradesh, India 

PAN.:

AAHEP6262A

 

 

CAPITAL STRUCTURE

 

After 30.09.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Millions

8000000

Preference Share

Rs.10/- each

Rs.80.000 Millions

 

TOTAL

 

Rs.100.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5600000

Equity Shares

Rs.10/- each

Rs.56.000 Millions

4000000

Preference Share

Rs.10/- each

Rs.40.000 Millions

 

TOTAL

 

Rs.96.000 Millions

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Millions

8000000

Preference Share

Rs.10/- each

Rs.80.000 Millions

 

TOTAL

 

Rs.100.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Millions

7600000

Preference Share

Rs.10/- each

Rs.76.000 Millions

 

TOTAL

 

Rs.96.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

96.000

60.000

60.000

2] Share Application Money

0.000

24.000

0.000

3] Reserves & Surplus

17.041

0.970

0.951

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

113.041

84.970

60.951

LOAN FUNDS

 

 

 

1] Secured Loans

0.732

3.635

3.790

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.732

3.635

3.790

DEFERRED TAX LIABILITIES

0.014

0.010

0.051

 

 

 

 

TOTAL

113.787

88.615

64.792

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

20.222

20.472

18.211

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

127.166

98.611

75.612

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.000

0.000

0.000

 

Sundry Debtors
2.287
3.611

2.287

 

Cash & Bank Balances
0.211

0.034

0.019

 

Other Current Assets
7.222

5.746

8.108

 

Loans & Advances
4.028

8.316

0.697

Total Current Assets
13.748

17.707

11.111

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

33.792

48.087

40.063

 

Other Current Liabilities
1.830

0.011

0.015

 

Provisions
11.727

0.077

0.064

Total Current Liabilities
47.349

48.175

40.142

Net Current Assets
(33.601)

(30.468)

(29.031)

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

113.787

88.615

64.792

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

52.119

1.324

0.000

 

 

Other Income

0.630

0.864

1.735

 

 

TOTAL                                     (A)

52.749

2.188

1.735

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Employee Related Expenses

0.506

0.600

0.652

 

 

Administrative, Selling and Other Expenses

24.039

0.776

0.701

 

 

TOTAL                                     (B)

24.545

1.376

1.353

 

 

 

 

 

Less

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

28.204

0.812

0.382

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

0.219

0.508

0.045

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

27.985

0.304

0.337

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.260

0.303

0.303

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                   (G)

27.725

0.001

0.034

 

 

 

 

 

Less

TAX                                                                  (H)

11.655

(0.017)

0.081

 

 

 

 

 

 

PROFIT(LOSS) AFTER TAX (G-I)                       (I)

16.070

0.018

(0.047)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

0.969

0.951

0.998

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

17.039

0.969

0.951

 

 

 

 

 

 

Earnings Per Share (Rs.)

1.67

NA

NA

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
30.47

0.82

(2.71)

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
53.20

0.08

0.00

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
81.62

0.00

0.12

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.25

0.00

0.00

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.43

0.61

0.72

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
0.29

0.37

0.28

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Notes: The registered office has been shifted from 8-2-698, Flat NO. 403, 5th Floor, M J Towers, Road No. 12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India to Present Address w.e.f (15.06.2011)

 

Fixed Assets

 

  • Land
  • Vehicle
  • Office Equipment
  • Electrical Equipment
  • Furniture and Fixture
  • Miscellaneous Assets
  • Computers

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.50.91

UK Pound

1

Rs.80.77

Euro

1

Rs.67.40

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

5

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

2

--CREDIT LINES

1~10

2

--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

 

28

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.