MIRA INFORM REPORT
|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAHAVIR SYSPOWER PRIVATE LIMITED |
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Registered
Office : |
Office No. 104, Sahakar Niwas, Plot No. 160/161, Road No. 2, Jawahar Nagar, Goregaon (West), Mumbai – 400062, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.07.1999 |
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Com. Reg. No.: |
11-120992 |
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Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U72501MH1999PTC120992 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Electrical Equipments, APC Brand of UPS Systems. |
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No. of Employees
: |
88 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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. General financial position of the company is normal and acceptable for
business dealing. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: P&L A/c for the year 2013 is not available. |
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 narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL NSIC |
|
Rating |
SE 2A |
|
Rating Explanation |
High financial strength and high performance capability. |
|
Date |
14.12.2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Priya Rane |
|
Designation : |
Account Head |
|
Contact No.: |
91-22-40991106 |
|
Date : |
27.11.2014 |
LOCATIONS
|
Registered Office : |
Office No. 104, Sahakar Niwas, Plot No. 160/161, Road No. 2,
Jawahar Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India |
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Tel. No.: |
91-22-28746824 / 28711233 / 40991106 |
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Fax No.: |
91-22-28786814 |
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E-Mail : |
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Website : |
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Area : |
100 Sq. Ft. |
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Location : |
Owned |
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Locality : |
Commercial |
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Warehouse : |
206, Build No. 2, Sector No. 3, Millennium Business Par, Navi Mumbai,
Mumbai-400701, |
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Tel. No.: |
91-22-27781077/ 27780116 |
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E-Mail : |
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Sales Office : |
4/34, Sidharth Nagar, No 5, Road No 2, Near Prabhodhan Sports Complex,
Goregaon (West), Mumbai 400104, Maharashtra, India |
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Branch Office : |
Located at:- ·
·
·
Ahmedabad ·
Navi Mumbai |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pranav Bhupendra Shah |
|
Designation : |
Director |
|
Address : |
14-C, Kaveri Mahima Co-operative Housing Society, Bangur Nagar,
Goregaonb West, Mumbai-400090, Maharashtra, India |
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Date of Birth/Age : |
10.03.1974 |
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Date of Appointment : |
26.07.1999 |
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DIN No.: |
02400600 |
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Name : |
Mr. Yogesh Navichandra Shah |
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Designation : |
Director |
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Address : |
22, Bhupendra Niwas, Jitendra Nagar, Malad East, Mumbai-400097, |
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Date of Birth/Age : |
01.03.1970 |
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Date of Appointment : |
26.07.1999 |
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DIN No.: |
00803005 |
KEY EXECUTIVES
|
Name : |
Ms. Priya Rane |
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Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Pranav B Shah |
300000 |
30.00 |
|
Yogesh N Shah |
300000 |
30.00 |
|
Yogesh N Shah (HUF) |
200000 |
20.00 |
|
Pranav B Shah (HUF) |
200000 |
20.00 |
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TOTAL
|
1000000 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
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TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electrical Equipments, APC Brand of UPS Systems. |
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Products : |
·
Boimetric Systems ·
GPs ·
Rf ·
Server ·
Voltage Regular ·
·
Cctv ·
Investors ·
Rfid ·
Servo Stabilizer ·
·
Gprs ·
Rack ·
Securties Systems ·
UPS |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, Advance |
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Purchasing : |
Cash, Advance |
GENERAL INFORMATION
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Suppliers : |
Not Available |
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Customers : |
End Users
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No. of Employees : |
88 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Parekh Shah and Lodha Chartered Accountants |
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Address : |
31-E, BKC Centre, Laxmi Industrial Estate, New Link Road, Andheri
(west), Mumbai-400053, Maharashtra, India |
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PAN No.: |
AAHFP3202E |
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Sister Concern : |
Mahavir Electronic System, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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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 |
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|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
10.000 |
10.000 |
0.160 |
|
(b) Reserves & Surplus |
55.786 |
49.435 |
34.875 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
18.539 |
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Total
Shareholders’ Funds (1) + (2) |
65.786 |
59.435 |
53.574 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
3.977 |
5.796 |
5.741 |
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(b) Deferred tax liabilities (Net) |
1.019 |
0.581 |
0.249 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.996 |
6.377 |
5.990 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
18.164 |
22.211 |
12.377 |
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(b) Trade payables |
71.428 |
59.562 |
58.362 |
|
(c) Other
current liabilities |
28.641 |
27.212 |
6.085 |
|
(d) Short-term
provisions |
7.672 |
5.071 |
4.147 |
|
Total Current
Liabilities (4) |
125.905 |
114.056 |
80.971 |
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TOTAL |
196.687 |
179.868 |
140.535 |
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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 |
32.363 |
31.800 |
11.011 |
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(ii)
Intangible Assets |
0.043 |
0.063 |
0.000 |
|
(iii)
Capital work-in-progress |
0.243 |
0.000 |
14.114 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.945 |
2.946 |
2.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
36.594 |
34.809 |
27.125 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
44.994 |
49.267 |
41.184 |
|
(c) Trade
receivables |
71.573 |
61.307 |
58.381 |
|
(d) Cash
and cash equivalents |
31.670 |
28.914 |
7.167 |
|
(e)
Short-term loans and advances |
8.874 |
3.677 |
6.678 |
|
(f) Other
current assets |
2.982 |
1.894 |
0.000 |
|
Total
Current Assets |
160.093 |
145.059 |
113.410 |
|
|
|
|
|
|
TOTAL |
196.687 |
179.868 |
140.535 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
311.426 |
289.469 |
|
|
|
Other Income |
|
2.229 |
1.695 |
|
|
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TOTAL |
|
313.655 |
291.164 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
300.656 |
278.358 |
|
|
|
Administrative Expenses |
|
|
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|
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|
Advertising Expenses |
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|
|
|
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TOTAL |
|
300.656 |
278.358 |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
12.999 |
12.806 |
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.402 |
0.955 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
11.597 |
11.851 |
|
|
|
|
|
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|
|
|
|
TAX |
|
4.205 |
3.073 |
|
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|
PROFIT AFTER TAX |
|
7.373 |
8.778 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
31.934 |
23.175 |
|
|
|
|
|
|
|
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|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
|
1.100 |
0.016 |
|
|
|
Tax on Dividend Distribution |
|
0.183 |
0.003 |
|
|
BALANCE CARRIED
TO THE B/S |
|
38.024 |
31.934 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
7.37 |
548.63 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
393.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
2.37 |
3.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.17 |
4.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
6.55 |
9.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.20 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34
|
0.47 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.27 |
1.40 |
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 |
0.160 |
10.000 |
10.000 |
|
Reserves & Surplus |
34.875 |
49.435 |
55.786 |
|
Net
worth |
35.035 |
59.435 |
65.786 |
|
|
|
|
|
|
long-term borrowings |
5.741 |
5.796 |
3.977 |
|
Short term borrowings |
12.377 |
22.211 |
18.164 |
|
Total
borrowings |
18.118 |
28.007 |
22.141 |
|
Debt/Equity
ratio |
0.517 |
0.471 |
0.337 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
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 |
Yes |
Note :
The registered office of the company has been shifted from Office No. 104, Sahakar Niwas, Plot No.
161/161, Road No. 2, Jawahar Nagar, Goregaon (West), Mumbai – 400062,
Maharashtra, India to present address w.e.f. 01.02.2012
UNSECURED LOAN
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Short Term
Borrowings |
|
|
|
Loan from Directors and Shareholders (Repayable on Demand) |
2.901 |
2.540 |
|
Loan from Financial Institution and Others (Repayable on Demand) |
0.650 |
3.154 |
|
|
|
|
|
TOTAL |
3.551 |
5.694 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10343767 |
12/09/2013 * |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B84530955 |
|
2 |
10303435 |
04/08/2011 |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B19268937 |
|
3 |
10272120 |
27/01/2011 |
6,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B04808879 |
* Date of charge modification
FIXED ASSETS
- Air Condition
- Computer and Software
- Furniture and Fixtures
- Matrix EPABX System
- Office Equipments
- Office Premises at Ahmedabad
- Printers
- Telephone and Mobile Phone
- Vehicles
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. 61.97 |
|
|
1 |
Rs. 97.36 |
|
Euro |
1 |
Rs. 77.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.