MIRA INFORM REPORT
|
Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CMS COMPUTERS LIMITED |
|
|
|
|
Registered
Office : |
|
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.02.1980 |
|
|
|
|
Com. Reg. No.: |
11-022235 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.82.096
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH1980PLC022235 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC01573F/ MUMC05245C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC1758L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Providing IT support for government utility services, maintenance and facility management services for biometric attendance systems, supply of Traffic Controllers, EMS, kiosk and technology support for broadcasting and media business and security surveillance. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has seen a better increase in its sales turnover during 2012. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based (CC) : “BB” |
|
Rating Explanation |
Moderate risk of default |
|
Date |
March, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based (LC) : “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
March, 2013 |
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.: 91-22-67489000)
LOCATIONS
|
Registered/ Corporate/ Administration Office : |
|
|
Tel. No.: |
91-22-67489000/ 28216511/ 67489071 / 41259000 |
|
Mobile No.: |
91-9323833043 (Mr. C.P. Jain) |
|
Fax No.: |
91-22-67489001/ 22042734/ 67489000 / 41259001 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: · Delhi · Jaipur · Bangalore · Chennai · Hyderabad · Thiruvananthapuram · Ahmedabad · Mumbai |
DIRECTORS
As on 28.09.2012
|
Name : |
Ms. Aarti Rameshdutt Grover |
|
Designation : |
Director |
|
Address : |
1, Revills, 45 Cuffe Parade, Mumbai – 400005, |
|
Date of Birth/Age : |
06.08.1977 |
|
Qualification : |
MBA |
|
Date of Appointment : |
30.08.2010 |
|
PAN No.: |
AADCR1519O |
|
DIN No.: |
02625342 |
|
|
|
|
Name : |
Mr. Raju Rameshdutt Grover |
|
Designation : |
Director |
|
Address : |
1, Revills, 45 Cuffe Parade, Mumbai – 400005, |
|
Date of Birth/Age : |
08.09.1951 |
|
Qualification : |
BA |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
01584366 |
|
|
|
|
Name : |
Ms. Sona Purshottam Ramchandani |
|
Designation : |
Director |
|
Address : |
A-3, Flat No.12, Plot No. 156, Ideal House, Main Road, Sion (East),
Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1965 |
|
Qualification : |
BA |
|
Date of Appointment : |
06.03.2012 |
|
DIN No.: |
05229003 |
|
|
|
|
Name : |
Ms. Ashwini Chopra |
|
Designation : |
Additional Director |
|
Address : |
708, Dosti Aster, Dosti Acres, Near Antop Hill Bus Depot, Wadala
(East) Mumbai – 400037, Maharashtra India
|
|
Date of Birth/Age : |
03.01.1971 |
|
Date of Appointment : |
15.03.2013 |
|
DIN No. : |
03264345 |
KEY EXECUTIVES
|
Name : |
Mr. Murugesh Rajan Iyer |
|
Designation : |
Secretary |
|
Address : |
901, Morning Glory, Everest World, Kolshet Road, Thane (West) –
400607, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1963 |
|
Date of Appointment : |
10.02.2012 |
|
PAN No.: |
AADPI1487N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh Dutt Grover* |
|
57263517 |
|
Ramesh Dutt Grover |
|
15993663 |
|
Ramesh Dutt Gover (HUF) |
|
4000000 |
|
Raju Rameshdutt Grover |
|
105240 |
|
Aarti Rameshdutt Grover |
|
4733530 |
|
CMS Traffic Systems Limited, India |
|
10 |
|
CMS – Ident Private Limited, India |
|
10 |
|
CMS Engineering Services Private Limited, India |
|
10 |
|
Total |
|
82095980 |
Note: * "Mr. R.D. Grover, the registered shareholder of the Company deceased on 5th March 2011. In his Will, he had named Universal Trustees Private Limited (UTPL) as the sole Executor of his estate. The High Court of Mumbai granted Probate in respect of this Will, vide its order dated October 4th, 2011. UTPL is currently undertaking Execution of the Will of Late Mr. R.D. Grover. Upon execution, these shares shall be transferred in accordance with the Will of the late Mr. R.D. Grover."
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
95.13 |
|
Other top fifty shareholders |
4.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing IT support for government utility services, maintenance and facility management services for biometric attendance systems, supply of Traffic Controllers, EMS, kiosk and technology support for broadcasting and media business and security surveillance. |
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Products / Services : |
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Brand Names : |
“CMS”. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· Barclays Bank · State ank of Bikaner and Jaipur · The Dhanalakmi Bank Limited ·
IDBI Bank Limited, Marigold House; Plot No.A-34,
Andheri (West), Mumbai – 400 093, Maharashtra, India ·
IDBI
Bank Limited, 47, Opus Centre, Central Road, MIDC, Marol, Andheri (East), Mumbai – 400093, Maharashtra, India ·
State Bank of India, Fort Branch, Mumbai,
Maharashtra, India ·
State
Bank of Indore, Commercial Branch, Mittal Court, “’ B’ Wing, Ground Floor,
Nariman Point, Mumbai – 400021, Maharashtra, India ·
Syndicate Bank, Nariman Bhavan, Nariman Point,
Mumbai – 400021, Maharashtra, India ·
Citibank N.A., Sakhar Bhavan, Nariman Point,
Mumbai – 400021, Maharashtra, India ·
State Bank of India, Commercial Branch,
Justice G.N. Vaidya Marg, Mumbai – 400023, Maharashtra, India ·
ICICI Bank Limited, Nariman Point, Maharashtra, India ·
Axis Bank Limited, Royal Accord IV, Lokhadwala Complex, Andheri (West), Mumbai – 400053,
Maharashtra, India |
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Facilities : |
NOTE : Cash Credit Facility is secured by way of hypothecation of book debts,stock and by way of collatoral security in the form of property |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Basant Jain and Associates Chartered Accountants |
|
Address : |
601, Dalamal Chambers, New Marine Lines, Mumbai – 400020, Maharashtra,
|
|
PAN No. : |
ADOPJ8787C |
|
|
|
|
Subsidiary
Companies : |
· Dominant Developers Private Limited CIN No.: U70102MH2008PTC182196 · Systime Computers Limited CIN No.: U72200GJ1989PLC012414 · CMS - DITL Limited CIN No.: U32100MH1981PLC024132 · Netprint Solution India Private Limited CIN No.: U28200MH1982PTC028805 · Mailtek Services (India) Limited CIN No.: U74999MH1985PLC035833 · New Video Private Limited CIN No.: U92111DL1984PTC019197 |
|
|
|
|
Joint ventures : |
CMS Datacard-GMBH, Switzerland |
|
|
|
|
Enterprise over which Director and/or his
relatives has significant influence : |
· CMS Traffic Systems Limited CIN No.: U74999MH1994PLC082773 · Jess Prasad Engineering and · Metallurgical Services Private Limited · CMS Energy Systems Private Limited · CMS Engineering Services Private Limited CIN No.: U72900MH1991PTC061938 · G.G. Constructions Private Limited CIN No.: U74899DL1987PTC028772 · Datacom Computer Services Private Limited · Computer Products and Services Private Limited · Royal Virgo Travels · Dynamic Hydro Machines Private Limited CIN No.: U99999DL1987PTC029377 · Money Ease Capital Private Limited · RDJ Constructions Private Limited · Acusoft Technologies Private Limited CIN No.: U72200MH2004PTC147197 · Cable Network Systems Private Limited · CMS Ident Private Limited CIN No.: U72200MH2008PTC182049 · CMS Info Systems Private Limited CIN No.: U45200MH2008PTC180479 · Resergent Infotech Private Limited CIN No.: U72900PN2005PTC020799 · CMS Marshal Limited · CMS Securitas Limited CIN No.: U74899DL1995PLC063974 · Dominant Security Systems Private Limited · Leadline Security Systems Private Limited · Radiant Security Systems Private Limited · Unmatched Security Systems Private Limited · Kaycee Industries Limited CIN No.: L70102MH1942PLC006482 · Suburbia Realtors Private Limited CIN No.: U70102MH2007PTC174643 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
184006337 |
Equity Shares with Voting Right |
Re.1/- each |
Rs. 184.006 millions |
|
15993663 |
Equity Shares with Non-Voting Right |
Re.1/- each |
Rs. 15.994 millions |
|
|
|
|
|
|
|
Total |
|
Rs. 200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66102317 |
Equity Shares with Voting Right |
Re.1/- each |
Rs.66.102
millions |
|
15993663 |
Equity Shares with Non-Voting Right |
Re.1/- each |
Rs .15.994
millions |
|
|
|
|
|
|
|
Total |
|
Rs. 82.096 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 |
|
82.096 |
82.096 |
|
(b) Reserves & Surplus |
|
2051.087 |
2013.271 |
|
(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) |
|
2133.183 |
2095.367 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
17.070 |
14.225 |
|
Total Non-current
Liabilities (3) |
|
17.070 |
14.225 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
8.207 |
44.414 |
|
(b) Trade
payables |
|
123.305 |
177.385 |
|
(c) Other
current liabilities |
|
263.886 |
277.777 |
|
(d) Short-term
provisions |
|
28.035 |
63.810 |
|
Total Current
Liabilities (4) |
|
423.433 |
563.386 |
|
|
|
|
|
|
TOTAL |
|
2573.686 |
2672.978 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
541.966 |
581.350 |
|
(ii)
Intangible Assets |
|
3.093 |
4.838 |
|
(iii)
Capital work-in-progress |
|
51.534 |
126.980 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
570.973 |
403.213 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
32.892 |
47.435 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1200.458 |
1163.816 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
47.952 |
64.404 |
|
(b)
Inventories |
|
25.438 |
29.976 |
|
(c) Trade
receivables |
|
654.065 |
643.507 |
|
(d) Cash
and cash equivalents |
|
194.797 |
47.311 |
|
(e)
Short-term loans and advances |
|
444.781 |
722.023 |
|
(f) Other
current assets |
|
6.195 |
1.941 |
|
Total
Current Assets |
|
1373.228 |
1509.162 |
|
|
|
|
|
|
TOTAL |
|
2573.686 |
2672.978 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
89.277 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2070.632 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2159.909 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
125.951 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
125.951 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2285.860 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
588.730 |
|
|
Capital work-in-progress |
|
|
188.761 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
291.319 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
20.299 |
|
|
Sundry Debtors |
|
|
548.121 |
|
|
Cash & Bank Balances |
|
|
164.980 |
|
|
Other Current Assets |
|
|
7.461 |
|
|
Loans & Advances |
|
|
914.553 |
|
Total
Current Assets |
|
|
1655.414 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
195.714 |
|
|
Other Current Liabilities |
|
|
220.596 |
|
|
Provisions |
|
|
22.676 |
|
Total
Current Liabilities |
|
|
438.986 |
|
|
Net Current Assets |
|
|
1216.428 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.622 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2285.860 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
793.322 |
741.753 |
832.864 |
|
|
|
Other Income |
147.597 |
120.063 |
182.216 |
|
|
|
TOTAL (A) |
940.919 |
861.816 |
1015.080 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
271.095 |
|
|
|
|
|
Employee benefit expense |
259.959 |
254.221 |
|
|
|
|
Other expenses |
286.956 |
240.422 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
4.982 |
(2.763) |
|
|
|
|
TOTAL (B) |
822.992 |
724.048 |
1012.950 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
117.927 |
137.768 |
2.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.275 |
18.109 |
25.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
106.652 |
119.659 |
(23.620) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
68.837 |
77.866 |
83.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
37.815 |
41.793 |
(107.530) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
37.815 |
41.793 |
(107.536) |
|
|
|
|
|
|
|
|
|
|
Adjustments related
merger acquisitions |
-- |
-- |
158.965 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
334.417 |
291.244 |
239.815 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
372.232 |
334.417 |
291.244 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at F.O.B. value |
0.000 |
0.000 |
0.065 |
|
|
|
Service charges/ ORC Commission |
1.885 |
3.960 |
12.406 |
|
|
|
Others |
1.088 |
11.141 |
5.932 |
|
|
TOTAL EARNINGS |
2.973 |
15.101 |
18.403 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
45.344 |
1.053 |
67.879 |
|
|
|
Components and spare parts |
0.000 |
0.000 |
0.102 |
|
|
|
Capital Goods |
0.000 |
15.999 |
6.170 |
|
|
TOTAL IMPORTS |
45.344 |
17.052 |
74.151 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.57 |
0.64 |
(1.26) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.02
|
4.85
|
(10.59) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.77
|
5.63
|
(12.91) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.94
|
1.95
|
(4.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02
|
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.02
|
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.24
|
2.68
|
3.77 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
18] |
Major customers |
No |
|
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 |
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 |
Yes |
CURRENT MATURITIES OF
LONG TERM DEBTS : NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10219265 |
23/07/2013 * |
245,000,000.00 |
IDBI BANK LIMITED |
47 OPUS CENTRE,
OPPOSITE TUNGA PARADISE HOTEL, |
B81797862 |
|
2 |
10127805 |
22/01/2009 * |
200,000,000.00 |
UNIT TRUST OF
INDIA INVESTMENT ADVISORY SERVICES LIMITED |
UTI TOWER GN
BLOCKBANDRA KURLA COMPLEX, BANDRA E |
A56391204 |
|
3 |
90241371 |
19/03/2005 |
375,100,000.00 |
STATE BANK OF
INDORE |
COMMERCIAL
BRANCH; MITTAL CORT; B WING; GROUND FLOOR, MUMBAI - 400021, MAHARASHTRA,
INDIA |
- |
|
4 |
90241341 |
11/08/2008 * |
350,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
A44879062 |
|
5 |
90242599 |
23/06/2006 * |
85,000,000.00 |
STATE BANK OF
INDORE |
COMMERCIAL BRANCH;
MITTAL CORT; B WING; GROUND FLOOR, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
6 |
90229902 |
08/02/2008 * |
190,000,000.00 |
AXIS BANK
LIMITED |
ROYAL ACCORD IV,
LOKHANDWALA COMPLEX, ANDHERI (WEST), MUMBAI - 400053, MAHARASHTRA, INDIA |
A33792151 |
|
7 |
90229862 |
19/04/2003 |
1,303,146.00 |
THE SARASWAT
CO-OPERATIVBE BANK LIMITED |
CENTRAL ADMIN.
OFFICE; APSRA CINEMA BUILDING, 2ND FLOOR; DR. D.B. MARG GRANT ROAD, MUMBAI - |
- |
|
8 |
90229689 |
31/01/2003 * |
395,000,000.00 |
SYNDICATE B ANK |
ATLANTA
BUILDING; NARIMAN POINT, MUMBAI - |
- |
|
9 |
90232363 |
29/12/1999 |
24,925,945.00 |
SUNDARAM
FINANCVE LIMITED |
21; PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
- |
* Date of charge modification
NOTE
The Registered Office of the company has been shifted from 203,
BACKGROUND
The Company is a company registered under the Indian Companies Act, 1956 (the Act) in the year 1980 having its registered office at CMS Lake Road Center, 70, Lake Road, Kaycee Industries Compound, Bhandup (West), Mumbai - 400078.
The Company is engaged in the business of providing IT support for government utility services, maintenance and facility management services for biometric attendance systems, supply of Traffic Controllers, EMS, kiosk and technology support for broadcasting and media business and security surveillance.
REVIEW OF
OPERATIONS
The Sales for the year 2011-12 has increased to Rs. 793.322 millions from Rs. 741.753 millions as of last year. The surplus carried to Balance Sheet has increased from Rs. 334.417 millions to Rs. 372.233 millions.
CLAIMS AGAINST THE
COMPANY NOT ACKNOWLEDGED AS DEBTS:
|
Nature of
Liability |
31.03.2012 (Rs. in
millions) |
31.03.2011 (Rs. in
millions) |
|
(a) Claims against the Company not acknowledged as debts: |
|
|
|
Disputed sales tax matters |
401.533 |
393.631 |
|
Disputed compensation under suit filed against the Company |
0.900 |
0.900 |
|
Claim from party for refund of deposit |
0.176 |
0.176 |
|
Claim for incomplete course material provided |
0.000 |
0.000 |
|
Disputed penalty under Factories Act, 1948 |
0.100 |
0.100 |
|
Claims for non completion of course |
0.000 |
0.000 |
|
Claim for full and final settlement of employee |
0.000 |
0.000 |
|
(b) Guarantees given by the Company |
303.871 |
353.572 |
|
(c) Capital commitments |
0.000 |
50.125 |
|
(d) Show cause notices received in respect of service tax matters |
323.242 |
302.154 |
FIXED ASSETS
v
Tangible
Assets
· Land - Leasehold
· Land - Freehold
· Building - Leasehold
· Building - Freehold
· Plant and Machinery
· Electrical Installation
· Furniture, fixtures and Fittings
· Vehicles
· Office Equipments
· Computer
v
Intangible
Assets
·
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.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.