MIRA
INFORM REPORT
|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNISTAL SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
408, Sidhartha Building 96, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.03.1995 |
|
|
|
|
Com. Reg. No.: |
55-066995 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.260 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC066995 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELU01959G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Company is engaged in Providing Software Services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 96800 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has seen a drastic dip in its sales turnover and incurred
a loss from its operations during 2012. However, trade relations are fair. Business is active. Payments terms
are slow but correct. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
408, Sidhartha Building 96, Nehru Place New Delhi – 110019, India |
|
Tel. No.: |
91-11-26219396, 26238864, 26288583 |
|
Fax No.: |
91-11-26219396, 26238864, 26288583 |
|
E-Mail : |
isales@unistal.com (sales) isupport@unistal.com (Product
Support) support@unistal.com
(Antivirus Support) |
|
Website : |
|
|
|
|
|
Regional Office : |
·
Mumbai Tel No.: 91-22-26103337,
26103338 Email : isales@unistal.com ·
Bangalore Tel No.: 91-80-41138519 Email : isales@unistal.com ·
Kolkata Tel No.: 91-33-64535244 Email : isales@unistal.com |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Alok Gupta |
|
Designation : |
Director |
|
Address : |
A-76, Amar Colony, Lajpat Nagar, New Delhi-110024, |
|
Date of Birth/Age : |
14.05.1969 |
|
Date of Appointment : |
31.03.1995 |
|
DIN No.: |
00817716 |
|
|
|
|
Name : |
Mr. Pankaj Mathur |
|
Designation : |
Director |
|
Address : |
301/29, East End Apartments, Mayur Vihar Phase I, New Delhi-110091, |
|
Date of Birth/Age : |
16.11.1968 |
|
Date of Appointment : |
31.03.1995 |
|
DIN No.: |
00817733 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Alok Gupta |
13001 |
|
Pankaj Mathur |
13001 |
|
|
|
|
Total |
26002 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in Providing Software Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
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|
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Facilities : |
NOTE: 1.
Secured Term Loan of Rs. 21,22,248/- (For current
maturities in 2012-13 of Rs. 8,14,956/-) from BMW financial services is
repayable of Rs. 67,913/-in 48 Monthly Equal installments with Interest. The
Loan is secured by hypothecation of specific Vehicle purchased out of Loan.
Interest is Charged @ 10.00% and repayable on monthly basis 2.
Secured Term Loan of Rs 19,64,181/- (For current
maturities in 2012-13 of Rs.10,48,320/-) from HDFC Bank Ltd is repayable of
Rs. 87,360/-in 35 Monthly Equal installments with Interest. The Loan is
secured by hypothecation of specific Vehicle purchased out of Loan. Interest
is Charged @ 10.00% and repayable on monthly basis 3.
Secured Term Loan of Rs 4,67,025/- (For current
maturities in 2012-13 of Rs.2,39,424/-) from HDFC Bank Ltd is repayable of
Rs. 19,952/-in 48 Monthly Equal installments with Interest. The Loan is
secured by hypothecation of specific Vehicle purchased out of Loan. Interest
is Charged @ 10.00% and repayable on monthly basis 4.
Corporate Term Loan (02/02/2010) of Rs
1,10,84,793 / (For current maturities in 2012-13 of Rs. 25,68,372/-) from
HDFC is repayable in 84 monthly equal installments of Rs. 2,14,031/-.
Interest is payable on monthly basis. The Loan is secured by equitable
mortgage of mortgage of immovable properties. Interest is Charged @
11.00%p.a. ·
Working capital facilities from HDFC bank is
secured by equitable mortgage of Immovable Properties of the company ·
The facilities from Bank are repayable on Demand
and carries Interest rate is 11.75% per annum. |
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institute : |
BMW Financial Services |
|
|
|
|
Auditors : |
|
|
Name : |
R. Balakrishan Chartered Accountant |
|
Address : |
B-31, Gaurav Apartment, Plot No. 1, IP Extentation, Patparg, New
Delhi-110092, |
|
PAN No. : |
ACTPB8808J |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26002 |
Equity Shares |
Rs.10/- each |
Rs.0.260 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.260 |
0.260 |
|
(b) Reserves & Surplus |
|
23.948 |
26.422 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
24.208 |
26.682 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
25.656 |
24.421 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
25.656 |
24.421 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
13.880 |
9.595 |
|
(b) Trade payables |
|
9.129 |
12.142 |
|
(c) Other current
liabilities |
|
0.328 |
0.570 |
|
(d) Short-term provisions |
|
3.320 |
3.182 |
|
Total Current Liabilities (4) |
|
26.657 |
25.489 |
|
|
|
|
|
|
TOTAL |
|
76.521 |
76.592 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
42.848 |
43.389 |
|
(ii) Intangible Assets |
|
0.008 |
0.008 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.199 |
0.755 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
44.055 |
44.152 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3.074 |
1.565 |
|
(c) Trade receivables |
|
22.101 |
23.401 |
|
(d) Cash and cash
equivalents |
|
2.528 |
3.631 |
|
(e) Short-term loans and
advances |
|
4.565 |
3.291 |
|
(f) Other current assets |
|
0.198 |
0.552 |
|
Total Current Assets |
|
32.466 |
32.440 |
|
|
|
|
|
|
TOTAL |
|
76.521 |
76.592 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.260 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
23.151 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
23.411 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
14.457 |
|
|
2] Unsecured Loans |
|
|
6.719 |
|
|
TOTAL BORROWING |
|
|
21.176 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
44.587 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
43.890 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.149 |
|
|
Sundry Debtors |
|
|
19.307 |
|
|
Cash & Bank Balances |
|
|
4.790 |
|
|
Other Current Assets |
|
|
3.169 |
|
|
Loans & Advances |
|
|
0.907 |
|
Total
Current Assets |
|
|
28.322 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
14.571 |
|
|
Other Current Liabilities |
|
|
9.239 |
|
|
Provisions |
|
|
3.816 |
|
Total
Current Liabilities |
|
|
27.625 |
|
|
Net Current Assets |
|
|
0.697 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
44.587 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.20111 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
57.747 |
70.140 |
85.647 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
59.994 |
65.303 |
74.422 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(2.474) |
4.837 |
11.225 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
1.495 |
3.816 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(2.474) |
3.342 |
7.409 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(95.14) |
128.52 |
284.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(4.28)
|
4.76 |
8.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.28)
|
6.38 |
15.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
0.18 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.63
|
1.27 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.27 |
1.02 |
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 |
No |
|
10] |
Designation
of contact person |
No |
|
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 |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
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 |
Yes |
|
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 |
Yes |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Loans and Advances from related parties Loans and Advances from
related parties |
|
|
|
Alok Gupta |
10.018 |
8.684 |
|
|
|
|
|
Total |
10.018 |
8.684 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10267124 |
25/02/2012 * |
26,000,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, lower Parel (West), Mumbai -
400013, Maharashtra India |
B33078270 |
|
2 |
90368459 |
14/01/2006 * |
1,750,000.00 |
ORIENTAL BANK OF COMMERCE |
New Delhi, Delhi, India |
-- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computers
·
Office Equipments
·
Electrical Fittings
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 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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.