MIRA INFORM REPORT
|
Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ITMS INDIA PRIVATE LIMITED |
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Registered
Office : |
Unit No. 306, 3rd Floor, Block-B, NDM-1, Netaji Subhash Place,
Pitampura – 110034, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.08.2012 |
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Com. Reg. No.: |
55-241213 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.050 Millions |
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CIN No.: [Company Identification
No.] |
U74900DL2012PTC241213 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and importer of Screen Printing Product, Set Printing
Consumables and Solvent Printers. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 44000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Profitability and reserves of the company is low. However, trade relation are fair. Business is active. Payment terms
are slow but correct. 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 (GENERAL INFORMATION)
|
Name : |
Mr. Ayush Kapoor |
|
Designation : |
Director |
|
Contact No.: |
91-9810580580 |
|
Date : |
02.04.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 306, 3rd Floor, Block-B, NDM-1, Netaji Subhash Place,
Pitampura – 110034, Delhi, India |
|
Tel. No.: |
91-11-45789580 |
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Mobile No.: |
91-9810580580 (Mr. Ayush Kapoor) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
1000 Sq.ft. |
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Location : |
Owned |
DIRECTORS
AS
ON 30.09.2013
|
Name : |
Mr. Sumit Jain |
|
Designation : |
Director |
|
Address : |
KP—185, Pitampura, Delhi-110088, India
|
|
Date of Birth/Age : |
25.01.1985 |
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Date of Appointment : |
28.08.2012 |
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DIN No.: |
05343232 |
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Name : |
Mr. Ayush Kapoor |
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Designation : |
Director |
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Address : |
D-167, PRashant Vihar, Delhi-110085, India |
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Date of Birth/Age : |
21.09.1985 |
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Date of Appointment : |
28.08.2012 |
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DIN No.: |
05343216 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS
ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sumit Jain |
502500 |
|
Ayush Kapoor |
502500 |
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TOTAL
|
1005000 |
AS
ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and importer of Screen Printing Product, Set Printing
Consumables and Solvent Printers. |
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Agencies Held : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (30 Days) |
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Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
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Supplier : |
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Customers : |
Wholesalers, Retailers, End Users
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
Details of terms of repayment for the long-term borrowings and
security provided in respect of the secured, long-term borrowings:
Security and Repayment
Terms in respect of term loans from banks and others. Particulars ** Term loan
from State Bank of India Limited. is secured by a first ranking mortgage over
Car Hyundai. This term loan is carrying rate of interest 10.45% P.A and is
repayble in equated monthly instalments of Rs 0.007 Million /-. *** Term loan
from Edelweiss Housing Finance Limited. is secured by a first ranking
mortgage over Plot no 23, Ground Floor, Block QP, Maurya Enclave, Pitam pura
, New Delhi - 110088. This term loan is carrying rate of interest 13% P.A and
is repayble in equated monthly instalments of Rs 0.044 Million /-. The term
loan shall be matured at 5th Sep, 2027. ITMS INDIA
PRIVATE LIMITED Notes forming
Intergal Part of Balance Sheet as at 31st March, 2013 * Term loan from
State Bank of India Limited. is secured by a first ranking mortgage over Car
Swift. This term loan is carrying rate of interest 11.20% P.A and is repayble
in equated monthly instalments of Rs 0.008 Million /-. ****Term loan
from Bajaj Finance Limited. is secured by a first ranking mortgage over 306,
3rd Floor, Block B, NDM -1 Netaji Subhash Place, New Delhi - 110034. This
term loan is carrying rate of interest 13% P.A and is repayable in equated
monthly instalments of Rs 0.089 Million /-. The term loan shall be matured at
05th March, 2023. Details of security for the Short-term
borrowings:
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Krishan Kumar Jain and Company Chartered Accountant |
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Address : |
B-4, Satya Bhawan, 36,Commercial Complex, Wazirpur Industrial Area, Delhi – 110052, India |
|
PAN No.: |
AAAFK6103C |
CAPITAL STRUCTURE
AS
ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1005000 |
Equity Shares |
Rs.10/- each |
Rs. 10.050
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
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|
10.050 |
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(b) Reserves & Surplus |
|
|
0.779 |
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(c) Money received against
share warrants |
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|
0.000 |
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(2) Share Application money
pending allotment |
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|
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
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|
10.829 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
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|
23.223 |
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(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
23.223 |
|
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
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|
14.403 |
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(b) Trade payables |
|
|
21.665 |
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(c) Other current liabilities |
|
|
3.263 |
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(d) Short-term provisions |
|
|
0.373 |
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Total
Current Liabilities (4) |
|
|
39.704 |
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TOTAL |
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73.756 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
|
|
9.755 |
|
(ii) Intangible Assets |
|
|
0.004 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
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(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.024 |
|
(d) Long-term Loan and Advances |
|
|
0.243 |
|
(e) Other Non-current assets |
|
|
0.169 |
|
Total
Non-Current Assets |
|
|
10.195 |
|
|
|
|
|
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(2) Current assets |
|
|
|
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(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
29.990 |
|
(c) Trade receivables |
|
|
28.216 |
|
(d) Cash and cash equivalents |
|
|
5.211 |
|
(e) Short-term loans and
advances |
|
|
0.080 |
|
(f) Other current assets |
|
|
0.064 |
|
Total
Current Assets |
|
|
63.561 |
|
|
|
|
|
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TOTAL |
|
|
73.756 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
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SALES |
|
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Income |
|
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Other Income |
|
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|
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TOTAL (A) |
|
|
116.211 |
|
|
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Less |
EXPENSES |
|
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
|
|
113.243 |
|
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|
|
|
|
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
2.968 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
1.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1.443 |
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
|
|
1.129 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.433 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
|
|
0.696 |
|
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
3.853 |
|
|
|
|
|
|
|
|
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|
Earnings /
(Loss) Per Share (Rs.) |
|
|
0.80 |
|
Expected Sales (2013-2014) : Rs. 250.000 Millions
The above information has been parted by Mr. Mr. Ayush Kapoor (Director)
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
0.60 |
|
|
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
NA |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.53 |
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.10 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
3.47 |
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|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.60 |
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 |
Yes |
|
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
one years |
Yes |
|
12] |
Profitability for last
one 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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
Other Loans and Advances |
|
|
From Other Parties |
13.244 |
|
|
|
|
Total |
13.244 |
Security and
Repayment Terms in respect of Loans and Advances from Others:
Loans and Advances from others are
unsecured. There are Multiple loans carrying rate of Interest 9% per annum
except the Parties as stated above. These loans are repayable after 12 months
from the reporting date.
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421298 |
02/03/2013 |
6,000,000.00 |
BAJAJ FINANCE
LIMITED |
AKURDI PUNE-,
PUNE, Maharashtra - 411035, INDIA |
B73631897 |
|
2 |
10406633 |
06/09/2013 * |
25,000,000.00 |
STATE BANK OF
INDIA |
SME Branch,
Ajmal Khan Road, 12/56 D.R.Chambers,, |
B83812537 |
* Date of charge modification
Corporate Information:
Subject is a Private Limited Company domiciled in India, having place of business,
G-7, 16/82, Avinash Mansion, Gali No. 3, Joshi Road, Karol Bagh, New
Delhi-110005 and incorporated to acquire and take over a partnership
firm in the name and style of M/S Infinity Trade and Marketing Solutions situated
at 16/82, Avinash Mansion, Gali
No. 3, Joshi Road, Karol Bagh, New Delhi-110005 along with all of the assets
and liabilities of that firm on such terms and conditions as may be mutually
agreed upon. The Company is engaged in the purchase, stock and sale all
the items relating signages and advertising whether imparted or indigenous
including but not limited to Printable Flex, Vinyls, Laminations, PVC Foam
Boards andother PVC/PET based items, Display Stands, Inks, LED Modules, LED
Strips, LED Lightings, LED Aluminium Bars, LED Through Holes, LED Power supply,
LED Controller/Software Tapes. Glue, Blades, Software and any other related
Accessory, Spares, Instruments and Equipment. The Company caters to both
domestic and International Markets.
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. 60.32 |
|
|
1 |
Rs. 100.04 |
|
Euro |
1 |
Rs. 82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
NVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
|
27 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.