MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AGS TRANSACT TECHNOLOGIES LIMITED (w.e.f. 20.07.2010) |
|
|
|
|
Formerly Known
As : |
AGS TRANSACT TECHNOLOGIES PRIVATE LIMITED (w.e.f. 03.06.2010) AGS INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.12.2002 |
|
|
|
|
Com. Reg. No.: |
11-138213 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 295.662
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2002PLC138213 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18573C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA0901H |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the business of trading of technology-based automation
solution products for the Banking, Petroleum, Colour and Retail sectors and
also providing of ATM Management Services for various Banks. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based : A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based : A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
December 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
[CONTACT NO.: 91-22-67812000]
LOCATIONS
|
Registered/ Head Office : |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66602659/ 67812000 |
|
Fax No.: |
91-22-24935384 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Assembling Unit Survey No.172/3, 173/3 and 173/4, Part - A, Ground Floor, Behind Olive
Health Care, Atiyawad, Dabhel, Nani Daman - 396210, Daman and Diu, India |
|
|
|
|
Factory 2 : |
Located at: v
|
|
|
|
|
TRC Centre : |
Units
19 to 21, Building No: 2, (A-3), Sector 1, Millennium Business Park, MIDC,
Mahape, Navi Mumbai - 400709, Maharashtra, India |
|
Tel. No.: |
91-22-67812211 |
|
Fax No.: |
91-22-67910462 |
|
|
|
|
Warehouse : |
Plot No.1-D, CMPSC Complex, Jaspal Compound, KWC, Near Libra Kata,
Kalamboli, Panvel, Navi Mumbai – 410218, Maharashtra, India |
|
Tel. No.: |
91-22-64577341 |
|
|
|
|
Branch Offices : |
Located at: v
Mumbai v
Navi Mumbai v
Ahmedabad v
v
Bangalore v
Chennai v
v
v
v
v
Guwahati v
v
v
Jaipur v
v
Kolkata v
v
v
Pune v
Puducherry v
Tirupur v
v
CIT-Bangalore v
CIT-Cochin |
DIRECTORS
AS ON 30.07.2013
|
Name : |
Mr. Ravi Badrinarain Goyal |
|
Designation : |
Managing Director |
|
Address : |
203, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
02.05.1962 |
|
Qualification : |
B.E. (Electrical) |
|
Experience : |
25 Years |
|
Date of Appointment : |
11.12.2002 |
|
Election
Commission Identity Card No.: |
KNF1217546 |
|
PAN No.: |
AACPG0726F |
|
DIN No.: |
01374288 |
|
|
|
|
Name : |
Mr. Badrinarain Kunjbihari Goyal |
|
Designation : |
Director |
|
Address : |
204, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
09.05.1940 |
|
Qualification : |
Electronics Diploma Engineer |
|
Date of Appointment : |
11.12.2002 |
|
Election
Commission Identity Card No.: |
MT/08/038/0144771 |
|
DIN No.: |
01679378 |
|
|
|
|
Name : |
Mrs. Anupama Ravi Goyal |
|
Designation : |
Director |
|
Address : |
203, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
10.09.1965 |
|
Qualification : |
M.A. |
|
Date of Appointment : |
10.08.2012 |
|
PAN No.: |
AACPG0725G |
|
DIN No.: |
02696453 |
|
|
|
|
Name : |
Mr. Suraj Parkash Chaudhry |
|
Designation : |
Director |
|
Address : |
Flat No.2201, 22nd Floor, Light Bridge, Hiranandani Meadows,
Pokhran Road No.2, Thane (West) – 400610, Maharashtra, India |
|
Date of Birth/Age : |
26.08.1949 |
|
Qualification : |
B.E (Mechanical) and MBA |
|
Date of Appointment : |
20.09.2010 |
|
DIN No.: |
03233435 |
|
|
|
|
Name : |
Mr. Sudip Bandyopadhyay |
|
Designation : |
Director |
|
Address : |
Ansal Heights Flat No.1801, 18th Floor, Block - B, Worli
Naka, Mumbai - 400018, Maharashtra, India |
|
Date of Birth/Age : |
06.04.1964 |
|
Qualification : |
CA and Cost Accountant |
|
Date of Appointment : |
20.09.2010 |
|
DIN No.: |
00007382 |
|
|
|
|
Name : |
Mr. Vishwarupe Rajat Kumar Narain |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.509, Mansarovar Building, 5/6, MT Pleasant Road, Malabar Hill,
Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
12.08.1974 |
|
Qualification : |
MBA and Master of Tech. from IIT, Delhi |
|
Date of Appointment : |
07.06.2011 |
|
DIN No.: |
03394320 |
|
|
|
|
Name : |
Mr. Manas Tandon |
|
Designation : |
Nominee director |
|
Address : |
28, Hastings Road, Allahabad – 211001, Uttar Pradesh, India |
|
Date of Birth/Age : |
07.05.1977 |
|
Date of Appointment : |
24.05.2013 |
|
DIN No.: |
05254602 |
|
|
|
|
Name : |
Mr. Nicholas Charles Luckock |
|
Designation : |
Nominee director |
|
Address : |
Southview, |
|
Date of Birth/Age : |
17.11.1972 |
|
Qualification : |
B.A, B. com, MBA |
|
Date of Appointment : |
30.07.2013 |
|
DIN No.: |
01125446 |
|
|
|
|
Name : |
Mr. Mahesh Ramchand Chhabria |
|
Designation : |
Nominee director |
|
Address : |
11 Golden Beach, Ruia Park, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
19.04.1964 |
|
Qualification : |
B.COM, CA |
|
Date of Appointment : |
22.11.2012 |
|
DIN No.: |
00166049 |
KEY EXECUTIVES
|
Name : |
Ms. Rashmi Omprakash Savita |
|
Designation : |
Company Secretary |
|
Address : |
A-102, Survoday CHS, Tagore Nagar, Vikroli (East), Mumbai – 400083,
Maharashtra, India |
|
Date of Birth/Age : |
09.01.1987 |
|
Date of Appointment : |
05.12.2012 |
|
PAN No.: |
CECPS1929E |
|
|
|
|
Name : |
Mr. Amitabh Jaipuria |
|
Designation : |
CEO - Banking |
|
|
|
|
Name : |
Mr. Anand Agarwal |
|
Designation : |
Group CFO |
|
|
|
|
Name : |
Mr. Bhupinder Rana |
|
Designation : |
President- Petroleum |
|
|
|
|
Name : |
Mr. George Trelawney |
|
Designation : |
President |
|
|
|
|
Name : |
Mr. Satish Zope |
|
Designation : |
Senior VP - Petroleum |
|
|
|
|
Name : |
Mr. Vijay Iyer |
|
Designation : |
Head - Cash Business |
|
|
|
|
Name : |
Mr. Surya Prakash Singh |
|
Designation : |
Head - Retail Support |
|
|
|
|
Name : |
Mr. Sanjiv Tiwari |
|
Designation : |
Head - Banking Service/ Project/ Roll out |
|
|
|
|
Name : |
Mr. Stanley Johnson |
|
Designation : |
President - Outsourcing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
|
|
16615078 |
|
TPG Star SF Pte Limited, |
|
822549 |
|
Oriole Limited, |
|
4799353 |
|
Badrinarain Kunjbihari Goyal |
|
187500 |
|
Anupama Ravi Goyal |
|
4 |
|
Vimla Badrinarain Goyal |
|
4 |
|
Kiran Badrinarain Goyal |
|
4 |
|
Nidhi Kiran Goyal |
|
4 |
|
Neha Ravi Goyal |
|
4 |
|
|
|
|
|
Total |
|
22424500 |
AS ON 31.03.2013
|
Names of Preference Shareholders |
|
No. of Shares |
|
TPG Star SF Pte Limited, |
|
6991664 |
|
Oriole Limited, |
|
150000 |
|
|
|
|
|
Total |
|
7141664 |
AS ON 30.07.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
25.07 |
|
Directors
or relatives of directors |
74.93 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of trading of technology-based automation
solution products for the Banking, Petroleum, Colour and Retail sectors and
also providing of ATM Management Services for various Banks. |
||||||||
|
|
|
||||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
v The Ratnakar Bank Limited, Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India v Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India v Citibank N. A., First International Financial Centre , 9th Floor, Plot No.C-54, C-55, G-Block, BKC, Bandra (East), Mumbai - 400051, Maharashtra, India v Standard Chartered Bank, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra [East], Mumbai - 400051, Maharashtra, India v DBS Bank Limited, 3rd Floor, Fort House, Dr. D N Road, Fort, Mumbai - 400001, Maharashtra, India v HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India v The Hong Kong and Shanghai Banking Corporation Limited, 52/60 MG Road, Fort, Mumbai - 400001, Maharashtra, India v Citi Bank N.A., Citigroup Centre, Bandra Kurla Complex, Bandra [East], Mumbai - 400051, Maharashtra, India v The South Indian Bank Limited, S I B House Mission Quarterst B Road, Thrissur - 680001, Kerala, India v Axis Bank Limited, Corporate Banking Branch, Axis House, Ground Floor, Bombay Dyeing Mills Compound, P.P. Road, Worli, Mumbai - 400025, Maharashtra, India v ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial institutions : |
v GE Capital Services India, 401, 402, 4th Floor, Aggarwal Millennium Tower, E-1,2,3, Netaji Subhash Place, Wazirpur, New Delhi - 110034, India v L and T Finance Limited,
L and T House, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar,
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Instruments Research Associates Private Limited [U24119KA1984PTC006178] AGS Sundyne Technologies Private Limited [U72200MH2006PTC161398] Fillon Technologies India Private Limited [U74999MH2003PTC139495] K.S. Goyal Charitable Trust Goyal Electronic Industries AGS Mega Automation Systems Private Limited
[U72900MH2012PTC235603] |
|
|
|
|
Subsidiary Company : |
India Transact Services Limited [U72900MH2007PLC172249] Global Transact Services Pte Limited Securevalue India Limited [U74120MH2012PLC230193] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
|
10,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,424,500 |
Equity Shares |
Rs. 10/- each |
Rs. 224.245 Millions
|
|
7,141,664 |
Preference Shares |
Rs. 10/- each |
Rs. 71.417
Millions |
|
|
Total |
|
Rs. 295.662 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
295.662 |
257.417 |
|
(b) Reserves & Surplus |
|
3912.877 |
2230.235 |
|
(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) |
|
4208.539 |
2487.652 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
665.526 |
111.339 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
36.253 |
19.032 |
|
Total
Non-current Liabilities (3) |
|
701.779 |
130.371 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
997.276 |
1846.194 |
|
(b)
Trade payables |
|
1476.141 |
642.904 |
|
(c)
Other current liabilities |
|
587.261 |
359.711 |
|
(d)
Short-term provisions |
|
65.539 |
34.022 |
|
Total
Current Liabilities (4) |
|
3126.217 |
2882.831 |
|
|
|
|
|
|
TOTAL |
|
8036.535 |
5500.854 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
2045.909 |
1305.802 |
|
(ii)
Intangible Assets |
|
152.078 |
125.641 |
|
(iii)
Capital work-in-progress |
|
407.240 |
105.301 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
101.003 |
0.503 |
|
(c) Deferred tax assets
(net) |
|
43.981 |
23.420 |
|
(d) Long-term Loan
and Advances |
|
1065.582 |
711.912 |
|
(e)
Other Non-current assets |
|
5.716 |
10.869 |
|
Total
Non-Current Assets |
|
3821.509 |
2283.448 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1332.990 |
887.985 |
|
(c)
Trade receivables |
|
2319.049 |
1714.151 |
|
(d)
Cash and cash equivalents |
|
96.612 |
176.513 |
|
(e)
Short-term loans and advances |
|
462.981 |
435.776 |
|
(f)
Other current assets |
|
3.394 |
2.981 |
|
Total
Current Assets |
|
4215.026 |
3217.406 |
|
|
|
|
|
|
TOTAL |
|
8036.535 |
5500.854 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
187.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
582.236 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
769.736 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1112.409 |
|
|
2] Unsecured Loans |
|
|
160.623 |
|
|
TOTAL BORROWING |
|
|
1273.032 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2042.768 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
610.467 |
|
|
Capital work-in-progress |
|
|
45.388 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.503 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
639.594
|
|
|
Sundry Debtors |
|
|
996.223
|
|
|
Cash & Bank Balances |
|
|
113.990
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
439.023
|
|
Total
Current Assets |
|
|
2188.830
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
636.146 |
|
|
Other Current Liabilities |
|
|
138.141
|
|
|
Provisions |
|
|
28.133
|
|
Total
Current Liabilities |
|
|
802.420
|
|
|
Net Current Assets |
|
|
1386.410
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2042.768 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
6367.095 |
5116.312 |
2433.179 |
|
|
|
Other Income |
15.745 |
16.100 |
12.545 |
|
|
|
TOTAL |
6382.840 |
5132.412 |
2445.724 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2661.845 |
2231.967 |
1367.773 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(123.118) |
88.217 |
194.935 |
|
|
|
Employee benefit expense |
568.341 |
427.349 |
263.608 |
|
|
|
Other expenses |
2571.289 |
1758.669 |
356.288 |
|
|
|
TOTAL |
5678.357 |
4506.202 |
2182.604 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
704.483 |
626.210 |
263.120 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
246.413 |
281.693 |
116.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
458.070 |
344.517 |
146.707 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
344.752 |
176.565 |
56.763 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEMS |
0.000 |
(44.856) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
113.318 |
123.096 |
89.944 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.855 |
49.463 |
33.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
79.463 |
73.633 |
56.347 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Products |
14.518 |
15.313 |
20.753 |
|
|
|
Warranty Reimbursement |
0.000 |
0.000 |
0.129 |
|
|
TOTAL EARNINGS |
14.518 |
15.313 |
20.882 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
451.615 |
514.291 |
374.011 |
|
|
|
Stores & Spares |
557.394 |
46.496 |
0.000 |
|
|
|
Capital Goods |
74.997 |
57.642 |
21.930 |
|
|
TOTAL IMPORTS |
1084.006 |
618.429 |
395.941 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
3.76 |
3.92 |
3.01 |
|
|
|
Diluted
|
2.82 |
3.19 |
3.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.24
|
1.43 |
2.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.78
|
2.41 |
3.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51
|
2.29 |
3.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.40
|
0.79 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.12 |
2.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
257.417 |
295.662 |
|
Reserves & Surplus |
2230.235 |
3912.877 |
|
Net
worth |
2487.652 |
4208.539 |
|
|
|
|
|
long-term borrowings |
111.339 |
665.526 |
|
Short term borrowings |
1846.194 |
997.276 |
|
Total
borrowings |
1957.533 |
1662.802 |
|
Debt/Equity
ratio |
0.787 |
0.395 |
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 |
2433.179 |
5116.312 |
6367.095 |
|
|
|
110.273 |
24.447 |
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 |
2433.179 |
5116.312 |
6367.095 |
|
Profit |
56.347 |
73.633 |
79.463 |
|
|
2.32% |
1.44% |
1.25% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
173.686 |
46.219 |
NA |
|
|
|
|
|
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10471898 |
24/12/2013 |
400,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COMPOUND, P.P. ROAD, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B94136363 |
|
2 |
10470911 |
21/01/2014 * |
500,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
S I B HOUSE MISSION QUARTERST B ROAD, THRISSUR - 680001, KERALA, INDIA |
B96568795 |
|
3 |
10435287 |
28/06/2013 |
290,000,000.00 |
GE CAPITAL SERVICES INDIA |
401, 402, 4TH
FLOOR, AGGARWAL MILLENNIUM TOWER, |
B78943545 |
|
4 |
10426618 |
13/05/2013 |
250,000,000.00 |
DBS BANK LIMITED |
3RD FLOOR, FORT HOUSE, DR. D N ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
B75452417 |
|
5 |
10419663 |
29/03/2013 |
1,650,000,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA , INDIA |
B73176315 |
|
6 |
10356196 |
19/05/2012 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B39796107 |
|
7 |
10305379 |
08/09/2011 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B20132775 |
|
8 |
10298340 |
26/09/2013 * |
500,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI, KOLHAPUR,, KOLHAPUR - 416001, MAHARASHTRA, INDIA |
B87314290 |
|
9 |
10272413 |
18/10/2011 * |
500,000,000.00 |
CORPORATION BANK |
104, BHARAT HOUSE, GROUND FLOOR, B.S. MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B23630916 |
|
10 |
10225253 |
08/02/2011 * |
200,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI – 400001, MAHARASHTRA, INDIA |
B05570981 |
|
11 |
10123885 |
21/08/2013 * |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B84717685 |
|
12 |
10092410 |
14/02/2014 * |
600,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA |
B97919203 |
|
13 |
10089657 |
28/06/2013 * |
300,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B79907705 |
|
14 |
80007107 |
21/08/2013 * |
650,000,000.00 |
CITIBANK N. A. |
FIRST INTERNATIONAL FINANCIAL CENTRE , 9TH FLOOR, PLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
B83348540 |
* Date of charge modification
COMPANY OVERVIEW
Subject is a company domiciled in India and incorporated under the
provisions of the Companies Act 1956 (the Act). The company is in the business of
trading of technology-based automation solution products for the Banking,
Petroleum, Colour and Retail sectors. The Company is also engaged in the
business of providing of ATM Management Services for various Banks.
REVIEW OF OPERATIONS
AND OVERALL PERFORMANCE
During the year, the Revenue from Operations increased to Rs. 6367.095 Millions as compared to Rs. 5116.312 Millions in the previous year registering a 24.45 % increase. The Profit for the year is Rs. 79.463 Millions as compared to Rs. 73.633 Millions in previous year registering a 7.92 % increase.
In continuation of the strategy to focus on ATM and Payments
business, the Company will continue to explore trade opportunities in the
Indian economy and abroad. The Directors are optimistic about the performance
for the year 2013-2014.
FIXED ASSETS:
v Land
v Buildings
v Plant
and equipment
v Furniture
and fixtures
v Vehicles
v Office
equipment
v Leasehold
improvements
v Goodwill
v Computer
software
v Licenses
and franchise
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. 59.65 |
|
|
1 |
Rs. 99.21 |
|
Euro |
1 |
Rs. 82.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.