MIRA INFORM REPORT
|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FALCON ACOUSTICS AND PASSIVE FIRE SOLUTIONS PRIVATE LIMITED
(w.e.f.07.04.2012) |
|
|
|
|
Formerly Known
As : |
FALCON TECHNOTRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-10, Raj Towers, I.C. Colony, Borivali (West), Mumbai - 400103,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.04.2008 |
|
|
|
|
Com. Reg. No.: |
11-180997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.495
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45309MH2008PTC180997 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF05280C |
|
|
|
|
PAN No.: [Permanent Account No.] |
|
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Interior and Exterior Building
Materials. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management has failed to file its financial for the year 2012 with the
government department. As per previous year’s record, the company recorded small scale of
operation and accumulated losses. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings with great
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 : |
Ms. Ankita Puri |
|
Designation : |
Business Manager |
|
Contact No.: |
91-9769207175 |
|
Date : |
24.05.2013. |
LOCATIONS
|
Registered Office : |
C-10, Raj Towers, I.C. Colony, Borivali (West), Mumbai - 400103,
Maharashtra, India |
|
Tel. No.: |
91-22-65270781/ 28935928 |
|
Mobile No.: |
91-9769207175 [Ms. Ankita] |
|
Fax No.: |
91-22-28935990 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vinay Fernandez |
|
Designation : |
Director |
|
Address : |
C-12, Raj Towers, I.C. Colony, Borivali (West), Mumbai - 400103,
Maharashtra, India |
|
Date of Birth/Age : |
10.08.1973 |
|
Date of Appointment : |
09.04.2008 |
|
DIN No.: |
02006888 |
|
|
|
|
Name : |
Anitha Parackal |
|
Designation : |
Director |
|
Address : |
C-10, Raj Towers, I.C. Colony, Borivali (West), Mumbai - 400103,
Maharashtra, India |
|
Date of Birth/Age : |
21.04.1974 |
|
Date of Appointment : |
09.04.2008 |
|
DIN No.: |
02060907 |
|
|
|
|
Name : |
Varghese Parackal |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Building No. 20, Behind Al Fardan Exchangel, Bur Dubai –
United Arab Emirates |
|
Date of Birth/Age : |
08.10.1968 |
|
Date of Appointment : |
09.04.2008 |
|
DIN No.: |
02038771 |
KEY EXECUTIVES
|
Name : |
Ms. Ankita Puri |
|
Designation : |
Business Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Varghese J Parackal |
|
16625 |
|
Vinay T Fernandez |
|
16250 |
|
Sayed Ahmed Mohammed Tarique |
|
16625 |
|
Parackal Varghese Anitha |
|
10 |
|
|
|
|
|
Total |
|
49510 |
AS ON 06.09.2012
|
Names of Allottees |
|
No. of Shares |
|
Varghese J Parackal |
|
89290 |
|
Sayed Ahmed Mohammed Tarique |
|
60000 |
|
|
|
|
|
Total |
|
149290 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
66.42 |
|
Other
top fifty shareholders |
|
33.58 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Interior and Exterior Building
Materials. |
|
|
|
|
Imports : |
|
|
Products : |
Interior and Exterior Building Materials |
|
Countries : |
Ø Dubai Ø Qatar Ø UK |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
HDFC Bank Limited, I.C. Colony, Borivali (West), Mumbai, Maharashtra,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R R and Company Chartered Accountants |
|
Address : |
101, Shiv Plaza, Station Road, Kandivli (West), Mumbai – 400067,
Maharashtra, India |
|
Tel. No.: |
91-22-28010740 |
|
Mobile No.: |
91-9820439691 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AKGPS9577E |
|
|
|
|
Enterprises over which any of are able to exercise significant
influence : |
Ø Emirates
Technotrade LLC |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198,800 |
Equity Shares |
Rs. 10/- each |
Rs. 1.988
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49,510 |
Equity Shares |
Rs. 10/- each |
Rs. 0.495
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.495 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.893 |
0.400 |
0.395 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1.064) |
(0.387) |
(0.784) |
|
|
NETWORTH |
0.324 |
0.113 |
(0.289) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.641 |
0.281 |
0.281 |
|
|
TOTAL BORROWING |
0.641 |
0.281 |
0.281 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.965 |
0.394 |
(0.008) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.246 |
0.059 |
0.040 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.324
|
0.462 |
0.573 |
|
|
Sundry Debtors |
0.733
|
0.141 |
0.375 |
|
|
Cash & Bank Balances |
0.372
|
0.463 |
0.065 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.342
|
0.292 |
0.060 |
|
Total
Current Assets |
2.771
|
1.358 |
1.073 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.621
|
0.613 |
1.013 |
|
|
Other Current Liabilities |
0.242
|
0.259 |
0.067 |
|
|
Provisions |
0.189
|
0.151 |
0.041 |
|
Total
Current Liabilities |
2.052
|
1.023 |
1.121 |
|
|
Net Current Assets |
0.719
|
0.335 |
(0.048) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.965 |
0.394 |
(0.008) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
2.793 |
3.798 |
0.958 |
|
|
|
Other Income |
N.A. |
N.A. |
N.A. |
|
|
|
TOTAL |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.639) |
0.484 |
(0.774) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.038 |
0.007 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(0.677) |
0.477 |
(0.781) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.080 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.677) |
0.397 |
(0.784) |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
1.763 |
1.370 |
0.947 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(24.68) |
39.73 |
(78.40) |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
9.000 |
4.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 10.000 Millions
The above information has been parted by Ms. Ankita Puri [Business
Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(24.24)
|
12.56 |
(81.84)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(22.44)
|
33.66 |
(70.17)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.09)
|
4.22 |
2.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.98
|
2.49 |
(0.97)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.33 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
|
|
|
|
For Goods |
1.587 |
0.562 |
0.986 |
|
For Expenses |
0.034 |
0.051 |
0.027 |
|
Total |
1.621 |
0.613 |
1.013 |
|
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
five years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
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 |
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
From Directors |
|
|
|
Anita Varghese |
0.460 |
0.100 |
|
Vinay Fernandez |
0.181 |
0.181 |
|
Total |
0.641 |
0.281 |
FIXED ASSETS:
Ø Air Conditioner
Ø Computer
Ø Office Equipment
Ø Website
Ø Furniture and
Fixture
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. 55.61 |
|
|
1 |
Rs. 83.98 |
|
Euro |
1 |
Rs. 71.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.