MIRA INFORM REPORT
|
Report Date : |
03.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
C S INFOCOMM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
202 – A, Triveni House, Opp. 13th Khetwadi Lane, Khemraj
Krishnadas Marg, Mumbai – 400004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
16.11.2005 |
|
|
|
|
Com. Reg. No.: |
11-157542 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2005PTC157542 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC14371A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC7711M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of dealings in software and
technologies sector. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having a moderate track record. The management of the company has failed to file its financials with
the government department since 2011. The financials of 2010 and 2011 are not
made available. Mr. Varad Manjrekar, Business Manager has denied to disclose any
financial detail of the subject to us. As per old (2009), the company had incurred loss from its operations. The status of the company appears to be active. Payment terms are
unknown. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Varad Manjrekar |
|
Designation : |
Business Manager |
|
Contact No.: |
91-9867598118 |
|
Date : |
02.07.2013 |
LOCATIONS
|
Registered Office / Corporate Office : |
202 – A, Triveni House, Opp. 13th Khetwadi Lane, Khemraj
Krishnadas Marg, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-23810609 / 23867574 |
|
Mobile No.: |
91-9867598118 [Mr. Varad Manjrekar] |
|
Fax No.: |
91-22-23885825 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Sales Office : |
A-505, Sagar Tech Plaza, Andheri Kurla Road, Sakinaka, Andheri [East],
Mumbai – 400072, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Anil Madhusudan Joglekar |
|
Designation : |
Managing Director |
|
Address : |
Room No.7-8, Ameya CHS., 4th Khetwadi Lane, Mumbai –
400004, |
|
Date of Birth/Age : |
09.02.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.11.2005 |
|
DIN No : |
02122422 |
|
|
|
|
Name : |
Mrs. Anuja Anil Joglekar |
|
Designation : |
Director |
|
Address : |
Room No.7-8, Ameya CHS., 4th Khetwadi Lane, Mumbai –
400004, |
|
Date of Birth/Age : |
14.08.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.11.2005 |
|
DIN No : |
02120427 |
KEY EXECUTIVES
|
Name : |
Mr. Varad Manjrekar |
|
Designation : |
Business Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Anil Joglekar |
5000 |
|
Anuja A. Joglekar |
5000 |
|
TOTAL |
10000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of dealings in software and
technologies sector. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
The Saraswat Cooperative Bank Limited, Laxmi Zulla, 1st
Floor, 50, |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S. Sharma and Company Chartered Accountant |
|
Address : |
303, Guruprabha Apartment, Sunder Nagar, S. B. Marg, Dadar [West],
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-24368252 / 66623197 |
|
|
|
|
Related Parties : |
Address : 202 – A, Triveni
House, Opposite 13th Khetwadi Lane, Khemraj Krishnadas Marg,
Mumbai – 400004, Maharashtra, India Activity : Subject is engaged
in the business of dealings in software and technologies sector.
Address : 202 – A, Triveni
House, Opposite 13th Khetwadi Lane, Khemraj Krishnadas Marg,
Mumbai – 400004, Maharashtra, India Activity : Subject is
engaged in the business of dealings in software and technologies sector.
|
CAPITAL STRUCTURE
AS ON 31.03.2009
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 |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.3.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.301 |
4.623 |
3.109 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.401 |
4.723 |
3.209 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.816 |
6.201 |
0.394 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
5.816 |
6.201 |
0.394 |
|
|
ADVANCE RECIEPTS
FROM CUSTOMER |
2.728 |
3.603 |
2.173 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.945 |
14.527 |
5.776 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.220 |
8.507 |
1.381 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.011 |
0.011 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.958 |
24.794 |
11.319 |
|
|
Sundry Debtors |
17.435 |
16.992 |
11.157 |
|
|
Cash & Bank Balances |
2.581 |
1.154 |
0.573 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
27.438 |
15.738 |
8.178 |
|
Total
Current Assets |
89.412 |
58.678 |
31.227 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.718 |
46.926 |
22.986 |
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Provisions |
10.000 |
5.755 |
3.875 |
|
Total
Current Liabilities |
87.718 |
52.681 |
26.861 |
|
|
Net Current Assets |
1.694 |
5.997 |
4.366 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.006 |
0.012 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
10.945 |
14.527 |
5.776 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.3.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
174.744 |
229.724 |
136.739 |
|
|
|
Other Income |
0.520 |
0.000 |
0.008 |
|
|
|
TOTAL (A) |
175.264 |
229.724 |
136.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
117.509 |
183.301 |
113.236 |
|
|
|
Personnel Expenses |
32.671 |
19.260 |
6.274 |
|
|
|
Other Expenses |
20.839 |
18.731 |
9.119 |
|
|
|
Prior Period Income |
(0.700) |
(0.147) |
0.000 |
|
|
|
TOTAL (B) |
170.319 |
221.145 |
128.629 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.945 |
8.579 |
8.118 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.140 |
0.982 |
0.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.805 |
7.597 |
7.697 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.120 |
0.327 |
0.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
2.685 |
7.270 |
7.660 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
5.007 |
5.755 |
3.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
(2.322) |
1.515 |
3.785 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2.322) |
1.515 |
3.785 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
103.971 |
162.513 |
114.415 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(232.25) |
151.48 |
378.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.3.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
(1.32)
|
0.66 |
2.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.54
|
3.16 |
5.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.72
|
10.82 |
23.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.12
|
1.54 |
2.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.42
|
1.31 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.11 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
(Rs. In Millions)
|
Particulars |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Sundry Creditor for expenses |
4.555
|
4.997
|
2.103
|
|
Sundry Creditor for Trade |
26.453
|
15.964
|
12.071
|
|
Sundry Creditor for Employees Expenses and
salary |
3.074
|
1.879
|
0.000
|
|
Sundry Creditor for statutory Payment |
42.849
|
24.086
|
8.812
|
|
Sundry Creditor for advances / loan |
0.787
|
0.000
|
0.000
|
|
Total |
77.718
|
46.926
|
22.986
|
BACKGROUND
Subject is a
private limited Company, registered in the state of Maharashtra, India under
Registration. No.U72900MH2005PTC157542 dt 24.11.2005. The Company is
set up with the object of carrying on business in software of all kinds and
nature, in information Technology Sector.
The company is
part of C S Croup, which was formed in 1992. The company mainly focuses on 'Customer interaction
Management Solution'. It provides Process Based, Structured Interaction for any
organization under 'Enterprise Communication Hub' TM. The company is an
Authorized Distributor of Aspect Software Inc., USA, for their entire range of
Contact Centre and performance Optimization Solution suites. Subsequent to the
date of the financial statements, the company has entered into agreement with
Microsoft Inc and Oracle for channelizing their products and services through
the company as their business partners.
BACKGROUND
The company is part of Compu Shop Group, which was formed in 1992. The
company mainly focuses on 'Customer Interaction Management Solution'. It
provides process Based, Structured Interaction for any organization under
'Enterprise Communication Hub' TM. The company is an Authorized Distributor of
Aspect Software Inc.,
The company also provides all Hardware, Software and Networking
Components required for Establishing 'Enterprise Communication Huh" TM and
carries out Total Project starting with Concept planning, Estimation and sizing
of
FINANCIAL RESULTS
The directors state with regret that due recession all over world,
liquidity crunch, all economic activities had stagnated or reduced
substantially, having impact on the working of the company. The revenue for the
year has reduced to Rs.175.264 millions as compared to last year's turnover of Rs.229.725
millions, due to the above reasons. The expenses have not come down to
the extent of the turnover slump due to their being of fixed nature resulting
in loss after adjustments of Rs.0.700 million (Rs.0.147 million) for prior
income and provision for taxes of Rs.4.000 millions (Rs.5.000 millions) due to
disallowances etc., the net result is loss of Rs.2.323 millions against the
profit of Rs.1.515 millions in the preceding year.
The directors do foresee a bright future of the business in the coming
years and barring unforeseen circumstances, the company may do well to have
better performance and results.
FIXED ASSETS
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] 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. 59.41 |
|
|
1 |
Rs. 90.38 |
|
Euro |
1 |
Rs. 77.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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.