MIRA INFORM REPORT
|
Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEV INFORMATION TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
14, Aryan Corporate Park, Near Shilaj Crossing, Thaltej, Ahmedabad -
380064, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.12.1997 |
|
|
|
|
Com. Reg. No.: |
04-033479 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30000GJ1997PTC033479 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Providing Information Technology Services. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 275000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems dip in the sales turnover of the company during 2013. However, General position of the company seems to be decent. Trade relation are reported to be fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealing 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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. Pradeep Joshi |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-26304241 |
|
Date : |
29.03.2014 |
LOCATIONS
|
Registered / Corporate Office: |
14, Aryan Corporate Park, Near Shilaj Crossing, Thaltej, Ahmedabad -
380064, Gujarat, India |
|
Tel. No.: |
91-79-26308854 / 26304241 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Regional Office 1: |
102, JB Apartment, Plot No.96, Shivaji Nagar, Civil Lines, Jaipur -
302006, Rajasthan, India |
|
Tel. No.: |
91-141-2224818 |
|
|
|
|
Regional Office 2: |
1717 Califaonia Ave, Windors, Onario, N9B 3T5 Canada |
|
Tel. No.: |
+1-586-925-5600 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Pranav Niranjanbhai Pandya |
|
Designation : |
Director |
|
Address : |
B/82, Akash Flats, Opposite Premchandnagar, Judges Bunglows Road,
Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
15.03.1968 |
|
Date of Appointment : |
23.12.1997 |
|
DIN No.: |
00021744 |
|
|
|
|
Name : |
Mr. Jaiminbhai Jagdishbhai Shah |
|
Designation : |
Director |
|
Address : |
8, Satellite Society, Jodhpur Tekra, Near Central Bank of India, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
25.04.1973 |
|
Date of Appointment : |
23.12.1997 |
|
DIN No.: |
00021880 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Joshi |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of
Shareholders |
|
No. of Shares |
|
Jaimin Jagdishbhai Shah |
|
4400 |
|
Jaimin Jagdishbhai Shah ( HUF ) |
|
1225 |
|
Pranav Niranjanbhai Pandya |
|
2600 |
|
Pranav Niranjanbhai Pandya (HUF ) |
|
1225 |
|
Rakhi Jagdishbhai Shah |
|
150 |
|
Jayshree Jagdishbhai Shah |
|
2500 |
|
Hemant Suryakant. Shah |
|
5000 |
|
Jagdishbhai Chinubhai Shah |
|
50 |
|
Amisha Jaiminbhai Shah |
|
5000 |
|
Saryuben Mahendrabhai Shah |
|
5000 |
|
Pratimaben Mohanlal Dersai |
|
5000 |
|
Kruti Pranavbhai Pandya |
|
5000 |
|
Maduriben Niranjan Pandya |
|
5000 |
|
Kiran Jiteshkumar Shah |
|
2500 |
|
Manisha Mahendrabhai Shah |
|
2600 |
|
Chetanbhai Desai |
|
2500 |
|
Academy for Computer Training Private Limited |
|
20 |
|
Meetaben Hemantbhai Shah |
|
30 |
|
Urmilaben S. Parikh |
|
100 |
|
Niranjanaben Satishbhai Jambudi |
|
100 |
|
Total |
|
50000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.04 |
|
Directors or relatives of Directors |
99.70 |
|
Others |
0.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology Services. |
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|
|
|
Terms : |
|
|
Selling : |
Credit |
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|
|
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Others (Corporate) · Microsoft · Oracle · Symantec · Safe Scrypt · Intel · Adobe |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
· Karur Vysya Bank Limited, Ashram Road Branch, Ahmedabad, Gujarat, India · The Kalupur Commercial Co-Operative Bank Limited, S.M. Road Branch, Shivranjani Cross Road, Ahmedabad - 380015, Gujarat, India · Kotak Mahindra Bank Limited · HDFC Bank Limited · Axis Bank Limited · State Bank of India |
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Facilities : |
NOTE LONG TERM
BORROWINGS ** The above amount have been guaranteed by Directors of Company. There is no continuing default as on the balance sheet date in
repayment of loans and interest. SHORT TERM
BORROWINGS ** There is no default as on the balance sheet date in repayment of
loans and interest. |
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Milin J. Jani and Company Chartered Accountants |
|
Address : |
3rd Floor, Shital Varsha Arcade, C G Road, Ahmedabad –
380009, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABMPJ6309E |
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|
|
|
Enterprises having
common Key Management Personnel and/or their Relatives: |
· Devna Commercial Complex Private Limited · Anjanj Infrastructure Private Limited · Anjani Softech Private Limited · Byte Technosys Private Limited · Xduce Infotech Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5.000 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
63.846 |
62.362 |
45.929 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
68.846 |
62.862 |
46.429 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
22.528 |
27.381 |
31.466 |
|
(b) Deferred tax liabilities (Net) |
2.249 |
0.000 |
0.914 |
|
(c) Other long term
liabilities |
0.502 |
1.414 |
0.452 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
25.279 |
28.795 |
32.832 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
24.328 |
9.851 |
14.578 |
|
(b) Trade
payables |
94.740 |
89.177 |
39.326 |
|
(c) Other
current liabilities |
25.106 |
30.139 |
27.930 |
|
(d) Short-term
provisions |
8.730 |
9.444 |
12.647 |
|
Total Current
Liabilities (4) |
152.904 |
138.611 |
94.481 |
|
|
|
|
|
|
TOTAL |
247.029 |
230.268 |
173.742 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
49.176 |
50.090 |
45.669 |
|
(ii)
Intangible Assets |
0.159 |
0.266 |
0.272 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.250 |
2.780 |
2.780 |
|
(c) Deferred tax assets (net) |
0.000 |
3.758 |
0.000 |
|
(d) Long-term Loan and Advances |
14.957 |
7.707 |
6.212 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
67.542 |
64.601 |
54.933 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
58.375 |
46.282 |
15.293 |
|
(c) Trade
receivables |
93.840 |
82.858 |
92.695 |
|
(d) Cash and
cash equivalents |
10.507 |
23.860 |
5.251 |
|
(e)
Short-term loans and advances |
16.765 |
12.667 |
5.570 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
179.487 |
165.667 |
118.809 |
|
|
|
|
|
|
TOTAL |
247.029 |
230.268 |
173.742 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
431.374 |
347.496 |
232.541 |
|
|
|
Other Income |
1.221 |
1.318 |
3.537 |
|
|
|
TOTAL (A) |
432.595 |
348.814 |
236.078 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
318.619 |
190.043 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
123.647 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(12.092) |
(30.989) |
(9.471) |
|
|
|
Employees benefits expense |
83.302 |
130.547 |
60.676 |
|
|
|
Other expenses |
19.190 |
21.238 |
37.711 |
|
|
|
TOTAL (B) |
409.019 |
310.839 |
212.563 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
23.576 |
37.975 |
23.515 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.459 |
8.897 |
6.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.117 |
29.078 |
17.103 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.017 |
3.590 |
1.881 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
12.100 |
25.488 |
15.222 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.007 |
8.473 |
5.728 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
6.093 |
17.015 |
9.494 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.362 |
0.928 |
2.016 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
10.000 |
10.000 |
|
|
|
Dividend Distribution Tax |
0.085 |
0.081 |
0.082 |
|
|
|
Proposed Dividend |
0.500 |
0.500 |
0.500 |
|
|
BALANCE CARRIED
TO THE B/S |
11.870 |
7.362 |
0.928 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
1.583 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
1.583 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
13.47 |
37.81 |
190.00 |
|
Expected Sales (2013-2014) : Rs. 600.000 Millions
The above information has been parted by Mr. Pradeep Joshi (Accounts Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.41 |
4.88 |
4.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.80 |
7.33 |
6.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.96 |
11.39 |
8.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.41 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.68 |
0.59 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.20 |
1.26 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.500 |
0.500 |
5.000 |
|
Reserves & Surplus |
45.929 |
62.362 |
63.846 |
|
Net
worth |
46.429 |
62.862 |
68.846 |
|
|
|
|
|
|
long-term borrowings |
31.466 |
27.381 |
22.528 |
|
Short term borrowings |
14.578 |
9.851 |
24.328 |
|
Total
borrowings |
46.044 |
37.232 |
46.856 |
|
Debt/Equity
ratio |
0.992 |
0.592 |
0.681 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
232.541 |
347.496 |
431.374 |
|
|
|
49.434 |
24.138 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
232.541 |
347.496 |
431.374 |
|
Profit |
9.494 |
17.015 |
6.093 |
|
|
4.08% |
4.90% |
1.41% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities
of long term debts |
|
|
|
|
The Kalupur Commercial Co‐operative Bank Limited |
4.286 |
4.286 |
4.286 |
|
Axis Bank Limited |
0.280 |
0.000 |
0.000 |
|
HDFC Bank Limited |
0.874 |
0.817 |
1.590 |
|
Total |
5.440
|
5.103 |
5.876 |
|
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 |
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10230871 |
06/05/2013 * |
20,000,000.00 |
THE KALUPUR COMMERCIAL CO-OP BANK LIMITED |
S.M.ROAD BRANCH, SHIVRANJANI CROSS ROAD, AHMEDABAD - 380015, GUJARAT, INDIA |
B74850561 |
|
2 |
10230870 |
30/04/2013 * |
65,000,000.00 |
THE KALUPUR COMMERCIAL CO-OP BANK LIMITED |
S.M.ROAD BRANCH, SHIVRANJANI CROSS ROAD, AHMEDABAD - 380015, GUJARAT, INDIA |
B74851239 |
* Date of charge modification
CHANGE OF ADDRESS
The registered office of the company has been shifted from F/1, janpath
Apartments, Ambawadi ahmedabad- 380015, Gujarat, India to the present address
w.e.f. 01.06.2011
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
0.642 |
0.614 |
|
From Shareholders |
5.214 |
5.254 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Term Loans |
|
|
|
From Kotak Mahindra Bank Limited ** (Repayable in 12 Monthly installments starting from 10/10/2011) (Against personal guarantee of directors) |
0.000 |
2.063 |
|
Total |
5.856 |
7.931 |
OPERATIONS
Their company posted a very healthy growth picture for the financial year2012‐13 in continuation to the last 6 year precedents of year on year positive growth story. During the year, the Company has achieved turnover of Rs.431.374 Millions, as against previous year turnover of Rs. 347.496 Millions.
However, due to constant watch and vigil over operating expenses, During the year Gross Operating Profit before Depreciation and Tax is Rs. 17.117 Millions as compared to Rs. 29.078 Millions in previous year.
The Company has penetrated deeply in Government Segment and also performed remarkably well in Private Corporate.
The Directors are constantly thriving hard to explore newer avenues to grow horizontally and vertically.
The Management is hopeful of better results in the coming year considering buoyancy in overall economy which has opened floodgates of growth for the Company.
During the current year also management is hopeful for achieving better results and expects good demand for computerization as well as Software Development.
PERFORMANCE
Income from services like I.T. enabled consultancy, software development etc. has reduced from 166.490 Millions in previous year to Rs 65.750 Millions during the current year.
Whereas turnover of sale of I.T. products like Microsoft has increased from Rs.175.894 Millions in Previous year to Rs.358.432 Millions in current year.
The change in composition and product mix has adversely affected the margins of the Company since margins of
services Sector are always better compared to trading activities.
The change in Income pattern has adversely affected Gross and Net margins of the Company.
The Management is rigorously working hard to improve revenue from service sector.
FIXED ASSETS
v
Tangible
Assets
· Office Building
· Furniture and Fixtures
· Office Equipment
· Computers
· Vehicles
v
Intangible
Assets
· 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 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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.