MIRA
INFORM REPORT
|
Report Date : |
13.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DYNACONS SYSTEMS AND SOLUTIONS LIMITED |
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Registered
Office : |
78, Ratnajyot Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.09.1995 |
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Com. Reg. No.: |
11-093130 |
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Capital
Investment / Paid-up Capital : |
Rs. 59.231
Millions |
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CIN No.: [Company Identification
No.] |
L72200MH1995PLC093130 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD09894D/ MUMD05367F |
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PAN No.: [Permanent Account No.] |
AABCD1621Q |
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Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is an IT solutions company and is engaged in providing
a comprehensive range of end-to-end solutions. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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. The rating is constrained on account of company’s moderate financial
risk profile and low profitability margins of the company. However, trade relations are fair. Business is active. Payment terms are
reported to be 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.
INDIAN ECONOMIC OVERVIEW
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = BB+ |
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Rating Explanation |
Moderate degree of safety and high credit risk. |
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Date |
December 10, 2013 |
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Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A4+ |
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Rating Explanation |
Minimal degree of safety. |
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Date |
December 10, 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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Ms. Shweta |
|
Designation : |
Accounts |
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Contact No.: |
91-22-26714494 |
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Date : |
12.08.2014 |
LOCATIONS
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Registered Office/ Head Quarters : |
78, Ratnajyot Industrial Estate, Irla Lane, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
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Tel. No.: |
91-22-66889900 / 26714494 / 26716641 |
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Fax No.: |
91-22-26716641 |
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E-Mail : |
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Website : |
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Overseas Office: |
·
USA ·
Singapore ·
Japan ·
Australia |
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Branch Offices: |
·
Delhi ·
Chennai ·
Kolkata ·
Ahmedabad ·
Goa ·
Nasik |
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Other Locations: |
· Ahmedabad · Ahmednagar · Akola · Aurangabad · Banglaore · Bhilai · Bhopal · Bhubaneshwar · Chandigarh · Coimbatore · Dhule · Gandhidham · Gwalior · Hyderabad · Indore · Jaipur · Jamnagar · Jamshedpur · Kandla · Kanpur · Kochi · Kolhapur · Lucknow · Ludhiana · Miraj · Nagpur · Pune · Rajkot · Ranchi · Ratlam · Solapur · Vadodara |
DIRECTORS
AS ON: 31.03.2013
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Name : |
Mr. Shirish M. Anjaria |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Parag J. Dalal |
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Designation : |
Executive Director |
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Name : |
Mr. Dharmesh S. Anjaria |
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Designation : |
Executive Director |
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Name : |
Mr. Mukesh P. Shah |
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Designation : |
Director |
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Name : |
Mr. Viren C. Shah |
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Designation : |
Director |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Advance Post Graduate in Computer and Systems management. Certificate in Oracle / SQL and RDBMS Concepts. |
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Date of Appointment : |
20.03.2001 |
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Name : |
Mr. Vishal G. Chappar |
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Designation : |
Additional Director (Appointed w.e.f. Aug 8, 2012) |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B.Com, A.C.A., MBA (NMIMS distance learning), C.I.A (US) |
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Date of Appointment : |
08.08.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Ravishankar Singh |
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Designation : |
Company Secretary |
|
Name : |
Ms. Shweta |
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Designation : |
Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.06.2014
|
Category
of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
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(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
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|
1769809 |
29.88 |
|
|
71475 |
1.21 |
|
|
1841284 |
31.09 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
1841284 |
31.09 |
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(B) Public
Shareholding |
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|
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|
|
|
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|
330591 |
5.58 |
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|
3039115 |
51.31 |
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|
621153 |
10.49 |
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|
90937 |
1.54 |
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|
21627 |
0.37 |
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|
69310 |
1.17 |
|
|
4081796 |
68.91 |
|
Total Public
shareholding (B) |
4081796 |
68.91 |
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Total (A)+(B) |
5923080 |
100.00 |
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(C) Shares held
by Custodians and against which Depository Receipts have been issued |
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|
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total
(A)+(B)+(C) |
5923080 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million 
Shareholding belonging to the category "Promoter
and Promoter Group"
|
Sr. No. |
Name
of the Shareholder |
Details of
Shares held |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
No.
of Shares held |
As
a % of grand total (A)+(B)+(C) |
|
||
|
1 |
Shirish M Anjaria |
3,60,948 |
6.09 |
0.00 |
|
2 |
Dharmesh S Anjaria |
3,56,220 |
6.01 |
0.00 |
|
3 |
Parag J Dalal |
3,47,200 |
5.86 |
0.00 |
|
4 |
Nilam S Anjaria |
2,85,902 |
4.83 |
0.00 |
|
5 |
Jigna D Anjaria |
1,56,463 |
2.64 |
0.00 |
|
6 |
Devangi Parag Dalal |
1,34,640 |
2.27 |
0.00 |
|
7 |
Hasumati Dalal |
64,816 |
1.09 |
0.00 |
|
8 |
Shrish M Anjaria HUF |
3,543 |
0.06 |
0.00 |
|
9 |
Trigem Infosolutions Limited |
71,475 |
1.21 |
0.00 |
|
10 |
Parag J Dalal HUF |
60,077 |
1.01 |
0.00 |
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Total |
18,41,284 |
31.09 |
0.00 |
Shareholding belonging to the category
"Public" and holding more than 1% of the Total No. of Shares
|
Sr.
No. |
Name
of the Shareholder |
No.
of Shares held |
Shares
as % of Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
Jilesh Navin Chheda |
75000 |
1.27 |
0.00 |
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2 |
Jaganath D Devadiga |
61933 |
1.05 |
0.00 |
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|
|
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Total |
136933 |
2.31 |
0.00 |
Shareholding belonging to the category
"Public" and holding more than 5% of the Total No. of Shares
|
Sr.
No. |
Name(s)
of the shareholder(s) and the Persons Acting in Concert (PAC) with them |
No.
of Shares |
Shares
as % of Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
Nil |
0 |
0.00 |
0.00 |
|
|
|
Total |
0 |
0.00 |
0.00 |
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BUSINESS DETAILS
|
Line of Business : |
Subject is an IT solutions company and is engaged in
providing a comprehensive range of end-to-end solutions. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
Dena Bank |
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Facilities : |
SHORT TERM
BORROWINGS Working capital loans are secured by hypothecation of
present and future stock, book debts, outstanding monies, receivables, claims,
bills, material in transit and Fixed Assets. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P. C. Ghadiali and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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Email: |
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Firm in which Wholetime Directors have
substantial Interest : |
S. P. Corporation |
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Company in which Directors have substantial
interest : |
Dynacons
Technologies Limited |
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Company in which Whole Time Directors have
substantial interest: |
Trigem
Infosolutions Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 59.231 Millions
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5923080 |
Equity Shares |
Rs.10/- each |
Rs. 59.231
Millions |
|
|
|
|
|
The reconciliation of
the number of shares outstanding is set out below:
|
Particulars |
As on 31.03.2013 |
|
|
No. of Shares |
|
Equity Shares at the beginning of the year |
5923080 |
|
Less : Reduction on Consolidation |
|
|
Equity Shares at the end of the year |
5923080 |
The details of
Shareholders holding more than 5% shares:
|
Name of the
Shareholders |
As on 31.03.2013 |
|
Shirish Mansingh Anjaria |
|
|
No. of Shares |
360948 |
|
% held |
6.09 |
|
|
|
|
Dharmesh Shirish Anjaria |
|
|
No. of Shares |
356220 |
|
% held |
6.01 |
|
|
|
|
Parag Jitendra Dalal |
|
|
No. of Shares |
347200 |
|
% held |
5.86 |
As per of the
company, including its register of shareholders/members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents the both legal and beneficial ownership of shares.
The company has
only one class of equity shares having a par value of 10 per share. Each
shareholder is eligible for one
vote per share
held.
No bonus shares
have been issued to equity share holders in last five years.
No equity share
shares been bought back in last five years.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
59.231 |
59.231 |
59.231 |
|
(b) Reserves & Surplus |
103.013 |
97.221 |
92.053 |
|
(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) |
162.244 |
156.452 |
151.284 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.768 |
4.263 |
6.948 |
|
(b) Deferred tax liabilities
(Net) |
9.853 |
9.918 |
9.176 |
|
(c) Other long term
liabilities |
3.992 |
1.530 |
1.393 |
|
(d) long-term provisions |
1.485 |
1.044 |
0.890 |
|
Total
Non-current Liabilities (3) |
17.098 |
16.755 |
18.407 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
134.353 |
87.805 |
64.393 |
|
(b) Trade payables |
9.771 |
21.930 |
27.238 |
|
(c) Other current liabilities |
21.295 |
16.668 |
17.282 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
165.419 |
126.403 |
108.913 |
|
|
|
|
|
|
TOTAL |
344.761 |
299.610 |
278.604 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
48.264 |
43.490 |
103.963 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
2.534 |
3.380 |
|
(b) Non-current Investments |
15.111 |
15.111 |
15.111 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
34.629 |
40.038 |
5.192 |
|
(e) Other Non-current assets |
2.481 |
2.481 |
2.660 |
|
Total
Non-Current Assets |
100.485 |
103.654 |
130.306 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
54.542 |
53.248 |
58.973 |
|
(c) Trade receivables |
147.891 |
83.680 |
72.840 |
|
(d) Cash and cash equivalents |
40.802 |
18.047 |
15.563 |
|
(e) Short-term loans and
advances |
1.041 |
0.931 |
0.922 |
|
(f) Other current assets |
0.000 |
40.050 |
0.000 |
|
Total
Current Assets |
244.276 |
195.956 |
148.298 |
|
|
|
|
|
|
TOTAL |
344.761 |
299.610 |
278.604 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
773.184 |
585.263 |
519.396 |
|
|
Other Income |
3.270 |
1.733 |
2.578 |
|
|
TOTAL
(A) |
776.454 |
586.996 |
521.974 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
509.442 |
458.235 |
|
|
Purchases of product and
services |
684.116 |
0.000 |
0.000 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(1.295) |
5.725 |
(7.815) |
|
|
Employees benefits expense |
37.662 |
28.652 |
23.153 |
|
|
Other expenses |
20.094 |
13.101 |
11.926 |
|
|
TOTAL
(B) |
740.577 |
556.920 |
485.499 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
35.877 |
30.076 |
36.475 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.757 |
12.199 |
12.154 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.120 |
17.877 |
24.321 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
11.733 |
10.436 |
9.853 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
8.387 |
7.441 |
14.468 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
2.595 |
2.274 |
4.156 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
5.792 |
5.167 |
10.312 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.98 |
0.87 |
1.74 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.75 |
0.88 |
1.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.08 |
1.27 |
2.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.54 |
2.64 |
5.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.84 |
0.59 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.55 |
1.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
59.231 |
59.231 |
59.231 |
|
Reserves & Surplus |
92.053 |
97.221 |
103.013 |
|
Net
worth |
151.284 |
156.452 |
162.244 |
|
|
|
|
|
|
long-term borrowings |
6.948 |
4.263 |
1.768 |
|
Short term borrowings |
64.393 |
87.805 |
134.353 |
|
Total
borrowings |
71.341 |
92.068 |
136.121 |
|
Debt/Equity
ratio |
0.472 |
0.588 |
0.839 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
519.396 |
585.263 |
773.184 |
|
|
|
12.681 |
32.109 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
519.396 |
585.263 |
773.184 |
|
Profit/(Loss) After Tax |
10.312 |
5.167 |
5.792 |
|
|
1.99% |
0.88% |
0.75% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
NA |
2.685 |
2.634 |
|
|
|
|
|
|
Total |
NA |
2.685 |
2.634 |
|
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 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CONTINGENT LIABILITIES (31.03.2013)
·
Claims against the Company not acknowledged as
debts: Nil
·
Guarantees given by the company’s bankers Rs.25.848
Millions (previous year 25.204 Millions)
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90215775 |
13/01/2003 |
19,180,000.00 |
DEAN BANK |
VILL PARLE,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
2 |
90215768 |
12/08/2002 |
16,300,000.00 |
DEAN BANK |
ANDHERI (W)
BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
3 |
80008670 |
26/09/2013 * |
183,600,000.00 |
DENA BANK |
DEEPAVALI, S.V.
ROAD, ANDHERI (WEST),, MUMBAI, M |
B87436382 |
|
4 |
90215714 |
11/07/2001 * |
6,500,000.00 |
DEAN BANK |
VILL PARLE,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
5 |
90215509 |
10/10/1997 * |
750,000.00 |
DEAN BANK |
VILL PARLE,
MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible
· Premises Computer
· Computers
· Office Equipments
· Furniture and Fixtures
· Motor Car
Intangible
· Software Development Expenses
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 records 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 records 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. 61.18 |
|
|
1 |
Rs. 102.56 |
|
Euro |
1 |
Rs. 81.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.