MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SILVER TOUCH TECHNOLOGIES LIMITED |
|
|
|
|
Formerly Known
As : |
SILVER TOUCH COMPUTERS PRIVATE LIMITED |
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|
|
|
Registered Office
: |
2nd Floor, Saffron, Near Panchwati Circle, Ambawadi,
Ahmedabad - 380006, Gujarat |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.02.1995 |
|
|
|
|
Com. Reg. No.: |
04-024465 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 55.950
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ1995PLC024465 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS6474P |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Trading of Computer Parts and Software Development. |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 960000 |
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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 a satisfactory track
record. The company has seen an increase in the sales turnover as well as a dip
in the net profitability during 2012. Financial position appears to be
decent. Trade relations are fair. Business is active. Payment terms are
usually correct. 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.
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Paulin |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-26563158 |
|
Date : |
27.07.2013 |
LOCATIONS
|
Registered / Head Office : |
2nd Floor, Saffron, Near Panchwati Circle, Ambawadi,
Ahmedabad - 380006, Gujarat, India |
|
Tel. No.: |
91-79-26563158/ 26408802/ 40022774/ 5 |
|
Fax No.: |
91-79-26561624 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Regional Offices : |
Located at: ö Delhi ö Ahmedabad ö Gandhinagar ö Rajkot ö Baroda |
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International Offices : |
Located at: ö North America ö United Kingdom ö Australia ö France ö Sweden |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Vipul Haridas Thakkar |
|
Designation : |
Managing director |
|
Address : |
19, Netra Bunglow, Near Seema Saurabh Society, Near Memnagar Fire
Station, Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Birth/Age : |
21.09.1970 |
|
Qualification : |
B.E., MBA |
|
Date of Appointment : |
02.02.1995 |
|
PAN No.: |
ABVPT8027A |
|
DIN No.: |
00169558 |
|
|
|
|
Name : |
Mr. Jignesh Amritlal Patel |
|
Designation : |
Whole-time director |
|
Address : |
5, Sadhana Colony, Stadium Road, Ahmedbad - 380009, Gujarat, India |
|
Date of Birth/Age : |
15.05.1971 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
02.02.1995 |
|
PAN No.: |
ABXPP2283Q |
|
DIN No.: |
00170562 |
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|
|
|
Name : |
Mrs. Palak Vinubhai Shah |
|
Designation : |
Whole-time director |
|
Address : |
29/1, Girdhar Nagar Society, Shahibaug, Ahmedabad - 380004, Gujarat,
India |
|
Date of Birth/Age : |
20.12.1970 |
|
Qualification : |
B.E. (Computer) |
|
Date of Appointment : |
06.10.2006 |
|
PAN No.: |
AFXPS5699R |
|
DIN No.: |
00306082 |
|
|
|
|
Name : |
Mr. Minesh Vinodchandra Doshi |
|
Designation : |
Whole-time director |
|
Address : |
205, Kahan Kutir, Opposite Jain Temple Liberty, Navrangpura, Ahmedabad
- 380009, Gujarat, India |
|
Date of Birth/Age : |
23.11.1970 |
|
Qualification : |
B.E. (Computer) |
|
Date of Appointment : |
06.10.2006 |
|
PAN No.: |
AEHPD1881M |
|
DIN No.: |
00306106 |
|
|
|
|
Name : |
Mr. Himanshu Jain |
|
Designation : |
Whole-time director |
|
Address : |
32, Sukhdev Vihar, New Delhi - 110025, India |
|
Date of Birth/Age : |
05.01.1969 |
|
Qualification : |
Diploma (Eng.) |
|
Date of Appointment : |
19.07.2010 |
|
PAN No.: |
AALPJ3069K |
|
DIN No.: |
00454477 |
|
|
|
|
Name : |
Mr. Ronak Sudhirbhai Shah |
|
Designation : |
Director |
|
Address : |
B/3, Dipkuinj Flats, Opposite Purnanad Ashram, Navjivan Post,
Ahmedabad-380014, Gujarat, India |
|
Date of Birth/Age : |
05.10.1973 |
|
Qualification : |
ACS |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02292044 |
|
|
|
|
Name : |
Mr. Harivadan Prabhashankar Thakar |
|
Designation : |
Director |
|
Address : |
10, Vijayvihar Co-operative Housing Society Limited, St. Xavier Road,
Navrangpura, Ahmedabad-380009, Gujarat, India |
|
Date of Birth/Age : |
25.05.1952 |
|
Qualification : |
B.Com., LLB |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02466067 |
KEY EXECUTIVES
|
Name : |
Mr. Paulin |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Vipul Haridas Thakkar |
1818755 |
|
Jignesh Amrutlal Patel |
1801855 |
|
Kajal Vipul Thakkar |
245100 |
|
Jolly Jignesh Patel |
262000 |
|
Haridas Karshandas Thakkar |
700 |
|
Amrutlal Kalidas Patel |
350 |
|
Manjulaben Amrutlal Patel |
350 |
|
Minesh Vinodchandra Doshi |
963290 |
|
Palak Vinukant Shah |
392600 |
|
Varsha Minesh Doshi |
55000 |
|
Zankhana Palak Shah |
55000 |
|
|
|
|
Total |
5595000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Computer Parts and Software Development. |
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Products/ Services : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
ö Bank of India, Ellisbridge Branch, Opposite
Town Hall, Ellisbridge, Ahmedabad - 380006, Gujarat, India [Tel No.:
91-79-26576360] ö ICICI Bank Limited, JMC House, Near Parimal
Garden, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ambalal Patel and Company Chartered Accountants |
|
Address : |
1st Floor, Sapphire Business Center, Above SBI Vadaj
Branch, Usmanpura, Ashram Road, Ahmedabad – 380013, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFA3490K |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
ö Silvertouch Infotech Limited ö Semaphore Infotech Private Limited ö Silvertouch Technologies B.V. |
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Subsidiary company : |
Silver Touch Technologies (UK) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,595,000 |
Equity Shares |
Rs. 10/- each |
Rs. 55.950
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 |
|
55.950 |
55.950 |
|
(b) Reserves & Surplus |
|
184.415 |
155.962 |
|
(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) |
|
240.365 |
211.912 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
13.788 |
3.259 |
|
(b) Deferred tax liabilities (Net) |
|
7.739 |
8.146 |
|
(c)
Other long term liabilities |
|
3.735 |
0.750 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
25.262 |
12.155 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
34.313 |
38.050 |
|
(b)
Trade payables |
|
94.653 |
104.152 |
|
(c)
Other current liabilities |
|
32.947 |
28.175 |
|
(d)
Short-term provisions |
|
23.915 |
17.059 |
|
Total
Current Liabilities (4) |
|
185.828 |
187.436 |
|
|
|
|
|
|
TOTAL |
|
451.455 |
411.503 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
105.017 |
95.868 |
|
(ii)
Intangible Assets |
|
3.886 |
4.108 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.086 |
0.086 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
21.730 |
11.755 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
130.719 |
111.817 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
16.466 |
14.710 |
|
(c)
Trade receivables |
|
222.740 |
230.345 |
|
(d)
Cash and cash equivalents |
|
21.209 |
10.189 |
|
(e)
Short-term loans and advances |
|
60.321 |
44.287 |
|
(f)
Other current assets |
|
0.000 |
0.155 |
|
Total
Current Assets |
|
320.736 |
299.686 |
|
|
|
|
|
|
TOTAL |
|
451.455 |
411.503 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
55.950 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
73.432 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
129.382 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
45.803 |
|
|
2] Unsecured Loans |
|
|
4.962 |
|
|
TOTAL BORROWING |
|
|
50.765 |
|
|
DEFERRED TAX LIABILITIES |
|
|
9.627 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
189.774 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
64.631 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.086 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
15.493 |
|
|
Sundry Debtors |
|
|
217.841 |
|
|
Cash & Bank Balances |
|
|
14.362 |
|
|
Other Current Assets |
|
|
4.505 |
|
|
Loans & Advances |
|
|
32.153 |
|
Total
Current Assets |
|
|
284.354 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
127.620 |
|
|
Other Current Liabilities |
|
|
16.727 |
|
|
Provisions |
|
|
15.260 |
|
Total
Current Liabilities |
|
|
159.607 |
|
|
Net Current Assets |
|
|
124.747 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.310 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
189.774 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
664.843 |
621.117 |
554.009 |
|
|
|
Other Income |
2.801 |
1.844 |
3.114 |
|
|
|
TOTAL (A) |
667.644 |
622.961 |
557.123 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
396.763 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(1.756) |
0.783 |
|
|
|
|
Employee benefit expense |
149.626 |
128.146 |
|
|
|
|
Other expenses |
58.104 |
54.014 |
|
|
|
|
TOTAL (B) |
602.737 |
562.485 |
494.002 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.907 |
60.476 |
63.121 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.218 |
8.882 |
6.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
56.689 |
51.594 |
56.524 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.806 |
11.524 |
9.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
42.883 |
40.070 |
46.563 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.455 |
(8.174) |
8.417 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
32.428 |
48.244 |
38.146 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
95.152 |
58.432 |
31.332 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
5.000 |
4.500 |
|
|
|
Dividend |
NA |
5.595 |
5.595 |
|
|
|
Tax on Dividend |
NA |
0.929 |
0.951 |
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
95.152 |
58.432 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Earnings on professional and consultation fees |
147.662 |
126.726 |
130.958 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.80 |
8.62 |
6.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.86
|
7.74 |
6.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.45
|
6.45 |
8.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.50
|
9.74 |
13.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.19 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20
|
0.19 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
1.60 |
1.78 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10403512 |
18/01/2013 |
198,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPP TOWN HALL ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B68323187 |
|
2 |
10396682 |
28/12/2012 |
735,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B65782294 |
|
3 |
10244035 |
14/12/2011 * |
20,500,000.00 |
ICICI BANK LIMITED |
J M C HOUSE BRANCH, AHMEDABAD – 380006, GUJARAT, INDIA |
B31536253 |
|
4 |
10244039 |
28/09/2010 |
5,000,000.00 |
ICICI BANK LIMITED |
JMC HOUSE, NR. PARIMAL GARDEN, AHMEDABAD - 380006, GUJARAT, INDIA |
A95641957 |
|
5 |
10244038 |
28/09/2010 |
30,000,000.00 |
ICICI BANK LIMITED |
JMC HOUSE, NR. PARIMAL GARDEN, AHMEDABAD - 380006, GUJARAT, INDIA |
A95638847 |
|
6 |
10041956 |
14/02/2013 * |
150,000,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B70436563 |
|
7 |
10041957 |
14/02/2013 * |
150,000,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B70436431 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from banks |
0.000 |
0.026 |
|
Loans and advances from related parties |
13.788 |
3.233 |
|
SHORT-TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
0.000 |
2.672 |
|
Total |
13.788 |
5.931 |
Note:
The Registered office has been shifted from 109, Shreeji Complex, Near
Cargomotors C G Road, Ahmedabad-380009, Gujarat, India to the present address
w.e.f. 01.11.2007
REVIEW OF
OPERATIONS AND FUTURE PROSPECTS:
The Company has made total income from business operations of Rs.
664.843 Millions during the year under review which shows increase in sales in
various segments with growth of more than 8% as compared to previous financial
year's income. The company has also earned the net profit of Rs. 32.427
Millions, which is slightly lower than the Last year in view of the Hike in the
Salary Cost and other Administrative overheads of the Company. The Company is
expanding its area of sales in international markets and segments with
innovative products and software in order to explore and gain both in monetary
terms at international levels and in terms of untapped market for company's
services. The Company has also focused in the Areas of E-Governance and The
Company has also been Empanelled with Unique Identification Authority of India
(UIDAI) and has got The Gujarat as well as Maharashtra State of UIDAI in the
Armory. Further Company has entered in to the geographic segment of the state
of Rajasthan Successfully by implementing mega E-Governance Project E-Mitra.
The Focus on the Business of E-Governance shall give the Company a new height.
The Company has also got exclusive project of Gujarat State RTO for vehicle
tests both for two wheeler and Four wheeler. The said Projects so in hand shall
give your company a new height of success in coming years.
FINANCE:
During the year, the company has availed various credit facilities
comprising of Fund Based Limits and Non fund Base Limit from Bank of India to
the tune of Rs. 107.000 Millions to meet the liquidity requirements of the
company for the smooth running of the business of the Company against the
various securities of the Company. The Company has also availed the Financial
Assistance in Form of Fund base and Non Fund base Limit From ICICI Bank as
against the Export Book Debts. The Interest Rate for the same shall be
beneficial which has resultant effect on the Cost Control.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
a) Bank Guarantee |
|
|
|
Bank Of India |
50.582 |
22.138 |
|
ICICI bank |
5.258 |
2.579 |
|
The above bank guarantees are issued by Bank of India
against 20% margin and ICICI bank against 15% margin in the form of Bank FD. |
|
|
|
b) Income tax Penalty u/s 271(1)(c) (AY2007-08) |
0.309 |
0.309 |
|
Company has given Corporate guaranty for loans taken by the directors of the Company. |
0.000 |
84.000 |
FIXED ASSETS:
ö Buildings
ö Office building
ö Other building
ö Plant and equipment
ö Other plant and equipment
ö Furniture and fixtures
ö Vehicles
ö Motor vehicles
ö Computer software
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
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.