MIRA INFORM REPORT
|
Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
AVAYA INDIA PRIVATE LIMITED |
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Formerly Known
As : |
DIXON ENTERPRISE NETWORK INDIA PRIVATE LIMITED MVS ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
62, 6th Floor, Kalpataru Synergy, Opposite to Grand Hyatt
Hotel, Vakola, Santacruz (East), Mumbai – 400055, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
03.04.2000 |
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Com. Reg. No.: |
11-209895 |
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Capital
Investment / Paid-up Capital : |
Rs. 141.700
Millions |
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CIN No.: [Company Identification
No.] |
U72200MH2000PTC209895 |
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PAN No.: [Permanent Account No.] |
AAECA3592N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of maintenance of
telecommunication equipments. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 13200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record.
There appears slight dip in the profitability during 2012. However, general financial position seems to strong. Liquidity appears
to be good. Trade relations are reported to be fair. Business is active.
Payments are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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
MANAGEMENT NON-COOPERATIVE
|
Tel. No.: |
91-20-30412500 91-40-44317000 91-80-67153002 |
LOCATIONS
|
Registered Office : |
62, 6th Floor, Kalpataru Synergy, Opposite to Grand Hyatt
Hotel, Vakola, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-124-2560500 |
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Fax No.: |
Not Available |
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E-Mail : |
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Branch Office : |
Located at
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DIRECTORS
As on 27.09.2012
|
Name : |
Ms. Bee Peng Ang |
|
Designation : |
Director |
|
Address : |
BLK 402 Sin Ming Avenue, # 19-317, Singapore – 570402 |
|
Date of Birth/Age : |
12.03.1970 |
|
Date of Appointment : |
26.03.2008 |
|
DIN No.: |
02117602 |
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Name : |
Mr. Abhay Ramchandra Valsangkar |
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Designation : |
Director |
|
Address : |
Lapis Lazuli B1, Flat No.1002, Garnet, south Main Road, Lane No.5, Koregaon Park, Pune-411001, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
18.03.2009 |
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PAN No.: |
ACRPV7112R |
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DIN No.: |
02528914 |
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Name : |
Ms. Pamela Francine Craven |
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Designation : |
Director |
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Address : |
101, Campbell Road, Bernardsville, New Jersey 07924, USA |
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Date of Birth/Age : |
03.10.1953 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02720531 |
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Name : |
Mr. Madhu Sivaram Muttathi |
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Designation : |
Additional director |
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Address : |
Ambapadmam, Cochin University, PO-682022, Kerala, India |
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Date of Birth/Age : |
05.11.1973 |
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Date of Appointment : |
21.03.2012 |
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PAN No.: |
AJLPM8971E |
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DIN No.: |
05216312 |
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|
Name : |
Mr. Rajesh Marimuthu |
|
Designation : |
Additional director |
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Address : |
54 Marigold Towers, Serene Country Housing Complex, Gachibowli,, Hyderabad-500032, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.11.1971 |
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Date of Appointment : |
21.03.2012 |
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PAN No.: |
AINPM6628H |
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DIN No.: |
05230365 |
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Name : |
Mr. Rajeeva Mittal |
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Designation : |
Additional director |
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Address : |
AR-616B, The Aralias, DLF Golf Links, DLF City, Gurgaon-122009, Haryana, India |
|
Date of Birth/Age : |
14.03.1964 |
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Date of Appointment : |
21.03.2012 |
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PAN No.: |
AAFPM6453L |
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DIN No.: |
05230875 |
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|
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Name : |
Mr. Asadolah Seghatoleslami |
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Designation : |
Additional director |
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Address : |
Slivers Lane, Cranbury, NJ, 085123324, USA |
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Date of Birth/Age : |
01.08.1952 |
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Date of Appointment : |
21.03.2012 |
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DIN No.: |
05230888 |
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Name : |
Mr. Jayesh Govindarajan |
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Designation : |
Additional director |
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Address : |
3466, Kenneth Drive Palo Alto, California, California 94303, USA |
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Date of Birth/Age : |
16.09.1975 |
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Date of Appointment : |
21.03.2012 |
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DIN No.: |
05234164 |
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Name : |
Mr. Michael Corbett Edward |
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Designation : |
Additional director |
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Address : |
13037 Logan Street,, Thornton CO 80241, Thornton, 80241, USA |
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Date of Birth/Age : |
17.04.1957 |
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Date of Appointment : |
21.03.2012 |
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DIN No.: |
05234231 |
KEY EXECUTIVES
|
Name : |
Mr. Krishan Lall |
|
Designation : |
Secretary |
|
Address : |
90/88, Ground Floor, Malviya Nagar, New Delhi – 110017, India |
|
Date of Birth/Age : |
30.06.1957 |
|
Date of Appointment : |
23.08.2005 |
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PAN No.: |
ABHPL8143P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sierra Communication International LLC, New Jersey |
14165050 |
|
Avaya International Enterprises Limited, |
100 |
|
Total |
14165150 |
As on 27.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of maintenance of telecommunication
equipments. |
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Product / Service: |
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GENERAL INFORMATION
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Supplier : |
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Customer : |
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No. of Employees : |
Information declined by management |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
Plot No Y 14 Block Ep Sector V Saltlake Electronic Complex Bidhan Nagar Kolkata – 700091, West Bengal, India |
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PAN No.: |
AABFL5878L |
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Ultimate Holding
Company : |
Avaya Inc., USA |
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Holding Company : |
Sierra Communication International LLC, USA (Formerly known as Avaya International LLC, USA) |
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Fellow Subsidiaries
: |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16450000 |
Equity Shares |
Rs.10/- each |
Rs. 164.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
14165150 |
Equity Shares |
Rs.10/- each |
Rs. 141.700 Millions |
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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 |
141.700 |
141.700 |
141.652 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3162.100 |
2462.200 |
1696.671 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
3303.800 |
2603.900 |
1838.323 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
62.000 |
57.500 |
0.000 |
|
|
TOTAL BORROWING |
62.000 |
57.500 |
0.000 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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TOTAL |
3365.800 |
2661.400 |
1838.323 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1013.700 |
1129.600 |
1245.625 |
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Capital work-in-progress |
0.000 |
0.000 |
12.082 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
193.600 |
149.000 |
81.579 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
Inventories |
97.900
|
53.700 |
184.837
|
|
|
Sundry Debtors |
2828.300
|
1776.100 |
534.093
|
|
|
Cash & Bank Balances |
97.500
|
125.600 |
217.663
|
|
|
Other Current Assets |
0.300
|
0.300 |
0.000
|
|
|
Loans & Advances |
216.200
|
223.000 |
237.550
|
|
Total
Current Assets |
3240.200
|
2178.700 |
1174.143 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
358.800
|
179.400 |
269.278 |
|
|
Other Current Liabilities |
549.700
|
480.300 |
250.420
|
|
|
Provisions |
173.200
|
136.200 |
155.408
|
|
Total
Current Liabilities |
1081.700
|
795.900 |
675.106 |
|
|
Net Current Assets |
2158.500
|
1382.800 |
499.037
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
3365.800 |
2661.400 |
1838.323 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5579.500 |
|
3691.100 |
|
|
|
Other Income |
81.700 |
|
|
|
|
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TOTAL |
5661.200 |
5183.265 |
3691.100 |
|
|
|
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|
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Less |
EXPENSES |
|
|
|
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|
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|
Office Expenses |
|
|
2627.100 |
|
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
4199.600 |
3819.375 |
2627.100 |
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1461.600 |
1363.890 |
1064.000 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
410.600 |
444.158 |
377.200 |
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PROFIT BEFORE
TAX |
1051.000 |
919.732 |
686.800 |
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Less |
TAX |
351.000 |
172.553 |
49.200 |
|
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PROFIT AFTER TAX
|
700.000 |
747.179 |
637.600 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
IT and IT Enabled Services |
3441.400 |
3385.605 |
3060.231 |
|
|
|
Maintenance & Technical Services |
759.200 |
699.701 |
196.301 |
|
|
TOTAL EARNINGS |
4200.600 |
4085.306 |
3256.532 |
|
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|
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IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
170.500 |
158.067 |
158.200 |
|
|
|
Service Stock |
35.200 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
205.700 |
158.067 |
158.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
49.41 |
52.75 |
45.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.36
|
14.42
|
17.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.84
|
NA
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.71
|
27.80
|
28.38
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.35
|
0.37
|
|
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|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02
|
0.02
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.00
|
2.74
|
1.74
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditor |
358.800
|
179.400 |
269.278 |
|
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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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
NOTE
The Registered Office of the company has been shifted from DLF Square,
19th Floor, Jacaranda Marg, DLF City, Phase – II, Gurgaon – 122002, Haryana,
India, to the present address w.e.f. 17.09.2010
FUTURE OUTLOOK:
The Company will focus on Sales and Services activities during the year along with other activities of the Company.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Other loans and advances |
62.000 |
50.500 |
|
Intercorporate deposits |
0.000 |
7.000 |
|
Total |
62.000 |
57.500 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Income tax matters |
46.000 |
|
Service tax matters |
15.400 |
|
Total |
61.400 |
FIXED ASSETS
- Furniture and fixtures
- Office equipment
- Computer equipments
- Other equipments
- Leasehold improvements
- Computer software
- Mining rights
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.55.99 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.