MIRA
INFORM REPORT
|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOMAL SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop No.6 and 7, Shree Balaji Complex, Rashtrabhushan Chowk, Guruwar
Peth, Pune – 411 042, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.04.2004 |
|
|
|
|
Com. Reg. No.: |
11-019081 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN2004PTC019081 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Trading
of Components of the Computer System, Spare parts and Accessories thereof, the Peripherals, the Networking Products including Software and Hardware required for the same, and other ancillary
products thereto. |
|
|
|
|
No. of Employees
: |
7 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 9000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing seems
to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be 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.
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
|
Name : |
Mr. Neelesh Himmatlal Shah |
|
Designation : |
Director |
|
Contact No.: |
91-20-24467521 |
|
Date : |
04.05.2013 |
LOCATIONS
|
Registered Office : |
Shop No.6 and 7, Shree Balaji Complex, Rashtrabhushan Chowk, Guruwar
Peth, Pune – 411 042, Maharashtra, India |
|
Tel. No.: |
91-20-24467521/ 24467565 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Himmatlal Gundulal Shah |
|
Designation : |
Director |
|
Address : |
B2/2, Ganesh Market, Bibwewadi, Kondhawa Road, Pune – 411 037,
Maharashtra, India |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00086995 |
|
|
|
|
Name : |
Mr. Neelesh Himmatlal Shah |
|
Designation : |
Director |
|
Address : |
B2/2, Ganesh Market, Bibwewadi, Kondhawa Road, Pune – 411 037,
Maharashtra, India |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00086952 |
|
|
|
|
Name : |
Mrs. Shaila Himmatlal Shah |
|
Designation : |
Director |
|
Address : |
B2/2, Ganesh Market, Bibwewadi, Kondhawa Road, Pune – 411 037,
Maharashtra, India |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00086975 |
|
|
|
|
Name : |
Mrs. Ashwini Neelesh Shah |
|
Designation : |
Director |
|
Address : |
B2/2, Ganesh Market, Bibwewadi, Kondhawa Road, Pune – 411 037,
Maharashtra, India |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
01691225 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Himmatlal Gundulal Shah |
|
2224 |
|
Neelesh Himmatlal Shah |
|
1128 |
|
Shaila Himmatlal Shah |
|
681 |
|
Ashwini Neelesh Shah |
|
964 |
|
Sadhana Prakash Shah |
|
1 |
|
Jyoti Jayantilal Shah |
|
1 |
|
Shrikant M. Chine |
|
1 |
|
Total |
|
5000 |
As on 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Trading
of Components of the Computer System, Spare parts and Accessories thereof, the Peripherals, the Networking Products including Software and Hardware required for the same, and other ancillary
products thereto. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
7 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Bank of Maharashtra, Shankar Seth Road, Pune –
411 037, Maharashtra, India (Contact No.: 91-20-26451940) ·
ICICI Bank Limited ·
Rajarshi Shahu
Sahakari Bank Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Notes: LONG TERM BORROWINGS The bank loans are in the nature of Car Loans and are secured against the hypothecation of the car purchased. The said loan has been taken for a period of 36 months with interest of Base rate + 1.25% p.a. not exceeding 11.95% p.a. There is no default in the repayment of the said loan as on the Balance Sheet date. SHORT TERM BORROWINGS The Company is enjoying a Cash Credit facility from the Bank which is secured against the hypothecation of Stock and Book Debts as a primary security. The personal properties of the Directors have been given as a collateral security. Also all the Directors have given a personal guarantee. The said Cash Credit limit carries an interest of Base Rate + 4%, not exceeding 14.70%. There is no default as on the Balance Sheet date in the repayment of loan or interest thereon. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Arjunwadkar and Associates Chartered Accountants |
|
Address : |
B2/21, Todkar Garden, S. No.569/1+3D, Bibwewadi, Kondhwa Road, Pune –
411 037, Maharashtra, India |
|
Tel. No.: |
91-20-24210004/ 24210005 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAZPA3380L |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.825 |
1.613 |
1.352 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.325 |
2.113 |
1.852 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.312 |
8.351 |
7.861 |
|
|
2] Unsecured Loans |
0.150 |
0.400 |
9.443 |
|
|
TOTAL BORROWING |
9.462 |
8.751 |
17.304 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.787 |
10.864 |
19.156 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.656 |
1.406 |
1.214 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.063 |
0.063 |
|
|
DEFERRED TAX ASSETS |
0.304 |
0.279 |
0.258 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.523
|
7.400 |
7.273 |
|
|
Sundry Debtors |
28.154
|
23.855 |
23.555 |
|
|
Cash & Bank Balances |
3.098
|
0.811 |
3.057 |
|
|
Other Current Assets |
0.806
|
1.325 |
0.000 |
|
|
Loans & Advances |
0.173
|
0.243 |
1.995 |
|
Total
Current Assets |
41.754
|
33.634 |
35.880 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
31.642
|
24.061 |
17.619 |
|
|
Other Current Liabilities |
0.101
|
0.254 |
0.329 |
|
|
Provisions |
0.184
|
0.203 |
0.311 |
|
Total
Current Liabilities |
31.927
|
24.518 |
18.259 |
|
|
Net Current Assets |
9.827
|
9.116 |
17.621 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.787 |
10.864 |
19.156 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
243.033 |
228.089 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
263.027 |
243.033 |
228.089 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
242.304 |
227.532 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
262.194 |
242.304 |
227.532 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEMS, TAX, DEPRECIATION AND AMORTISATION |
0.833 |
0.729 |
0.557 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.424 |
0.334 |
0.378 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
0.069 |
0.019 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.340 |
0.376 |
0.159 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.128 |
0.114 |
0.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.212 |
0.262 |
0.088 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1.613 |
1.351 |
1.263 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.825 |
1.613 |
1.351 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
42.40 |
52.40 |
17.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.08
|
0.11 |
0.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.78
|
1.07 |
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.18 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.07
|
4.14 |
9.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.37 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
31.642
|
24.061 |
17.619 |
|
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 |
No |
|
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 |
No |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and Advances from related parties |
|
|
|
Sadhana P. Shah |
0.150 |
0.150 |
|
Shrikant M. Chine
|
0.000 |
0.250 |
|
Total |
0.150 |
0.400 |
Notes:
LONG TERM BORROWINGS
The unsecured loans are interest free loans taken from the relatives of
the directors.
The loan taken from Mr. Shrikant M. Chine has been returned during the
year vide an account payee cheque.
CORPORATE
INFORMATION
The Company is a closely held Private Limited Company incorporated under
the registration number C.I.N.U- 72200-PN-2004-PTC-019081, under the Companies Act, 1956 with a
registered office in Pune.
The Company is engaged in the
business of Trading of Components
of the Computer System, Spare parts
and Accessories thereof, the Peripherals,
the Networking Products including Software and Hardware required for the same,
and other ancillary products thereto.
FIXED ASSETS:
·
Computer Software
·
Computer Hardware
·
Electrical Installation
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
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.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.