|
Report Date : |
30.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONDOT SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 122, Niraj Industrial Estate, Behind Paper Box Industries,
Off Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.08.1996 |
|
|
|
|
Com. Reg. No.: |
11-101846 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.672 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24294MH1996PTC101846 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC05957A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1766B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Variable Data Printing Systems |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
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 130000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track record. The
profit and loss statement of the company in not available as per available financials,
the financial strength of the company is moderate. Reserve appears to be low.
However, trade relations are reported as fair. Business is active. Payments
are unknown. 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 (GENERAL DETAILS)
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-26577023 |
|
Date : |
27.05.2013 |
LOCATIONS
|
Registered Office : |
Unit No. 122, Niraj Industrial Estate, Behind Paper Box Industries,
Off Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-61401800/26877023 |
|
Mobile No.: |
91-9321088540 [Mr. Jigish Chiniwala] |
|
Fax No.: |
91-22-26879078 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Distributors : |
Located at :
|
|
|
|
|
Delhi Branch Office : |
B-45/141, Guru
Nanak Pura, Lane No 5, Opposite HDFC Bank, Laxmi Nagar, New Delhi – 110092,
India |
|
Tel. No.: |
91-11-22015055 |
|
Fax No.: |
91-11-22422664 |
|
E-Mail : |
|
|
|
|
|
Sales Office / Warehouse: |
Arihant Godown Complex,
Building No. 8, Gala No. 2, Staircase, Ground Floor, Village Purna, Kopar Bus
Stop, Thane – Bhiwandi Road, Bhiwandi – 421302, Maharashtra, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Jigish Bipin Chiniwala |
|
Designation : |
Director |
|
Address : |
Flat No. 1102, 11th Floor, Sanjeev Enclave CHS. Building No.7
Bungalows J P Road, Andheri (West), Mumbai – 400061, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1968 |
|
Date of Appointment : |
14.08.1996 |
|
DIN No.: |
00538737 |
|
|
|
|
Name : |
Neha Jignesh Chiniwala |
|
Designation : |
Director |
|
Address : |
C-1 Bhavishya Darshan, 6 Ratan Nagar, Four, Bunglows, Andheri – West,
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1970 |
|
Date of Appointment : |
18.06.2012 |
|
DIN No.: |
02431789 |
|
|
|
|
Name : |
Mr. Mukeshkumar Bhemajibhai Patel |
|
Designation : |
Director |
|
Address : |
Flat No.206, 2nd Floor, Yogi Villa CHS. Yogi Nagar, Eksar
Road, Borivali West, Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1971 |
|
Date of Appointment : |
14.08.1996 |
|
DIN No.: |
01299687 |
|
|
|
|
Name : |
Sangeeta Mukesh Patel |
|
Designation : |
Director |
|
Address : |
Flat No.206, 2nd Floor, Yogi Villa CHS. Yogi Nagar, Eksar
Road, Borivali West, Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1971 |
|
Date of Appointment : |
18.06.2012 |
|
DIN No.: |
05311699 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Bhimjibhai Patel |
|
16860 |
|
Sangeeta Mukesh Patel |
|
9250 |
|
Bhimjibhai Hirabhai Patel |
|
4500 |
|
Dwaliben Bhimjibhai Patel |
|
7000 |
|
Bharti Bipin Chiniwala |
|
16000 |
|
Jigish Bipin Chiniwala |
|
11775 |
|
Neha Jigish Chiniwala |
|
9835 |
|
Jigish Bipin Chiniwala, Jt. Kinal Chiniwala |
|
13500 |
|
Mukesh Kumar Patel Jt. Nishita PAtel |
|
12000 |
|
Jigish Chiniwala Jt. Priyal Chiniwala |
|
2250 |
|
Usha Girish Patel |
|
3750 |
|
|
|
|
|
Total |
|
106720 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Variable Data Printing Systems |
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|
|
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Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
·
HDFC Bank Limited, Branch Ahura Centre, Andheri (East), Mumbai, Maharashtra, India Tel No.: 91-22-61606161 ·
The
Vysya Bank Limited, Mira Road Branch,
Mira Road (East), Thane, Maharashtra, India Citi Bank |
||||||||||||
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||||||||||||
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Facilities : |
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Banking
Relations : |
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|
|
|
Auditors : |
|
|
Name : |
Deven C. Dholakia Chartered Accountants |
|
Address : |
303, Sagar Building, Prabhat Industrial Estate, Before Dahisar Toll
Plaza, Dahisar (East), Mumbai - 400068, Maharashtra, India |
|
PAN No.: |
AAAPD6982E |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Share |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
106720 |
Equity Share |
Rs.100/- each |
Rs.10.672
Millions |
|
|
Share Premium Fresh allotment of 10000 shares of Rs.100 each allotted at a premium
of Rs. 900each |
|
Rs.9.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.19.672 Millions |
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 |
19.672 |
19.672 |
19.672 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.007 |
8.132 |
5.062 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
33.679 |
27.804 |
24.734 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
2.486 |
2.104 |
|
|
2] Unsecured Loans |
1.168 |
0.065 |
0.065 |
|
|
TOTAL BORROWING |
1.168 |
2.551 |
2.169 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.847 |
30.355 |
26.903 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.739 |
8.320 |
6.383 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.005 |
0.005 |
0.005 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.143
|
12.528 |
12.826 |
|
|
Sundry Debtors |
18.199
|
13.318 |
13.028 |
|
|
Cash & Bank Balances |
6.420
|
3.658 |
4.245 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.635
|
8.681 |
7.403 |
|
Total
Current Assets |
59.397
|
38.185 |
37.502 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.334
|
5.413 |
7.571 |
|
|
Other Current Liabilities |
8.604
|
2.571 |
2.618 |
|
|
Provisions |
3.356
|
8.171 |
6.798 |
|
Total
Current Liabilities |
32.294
|
16.155 |
16.987 |
|
|
Net Current Assets |
27.103
|
22.030 |
20.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.847 |
30.355 |
26.903 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.09 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
2.36 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
20.334
|
5.413 |
7.571 |
|
Total |
20.334
|
5.413 |
7.571 |
|
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 |
No |
|
12] |
Profitability for last
three years |
No |
|
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 |
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 |
NOTE
Registered office of the company has been shifted from 110, Menakshi Chambers
Panchal Nagar, Bhayander (East), Thane to the present address w.e.f.
11.03.2008.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Term Loans |
|
|
|
From Bank |
1.168 |
0.065 |
|
Total |
1.168 |
0.065 |
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.56.24 |
|
|
1 |
Rs.84.53 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
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 |
|
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.