MIRA INFORM REPORT
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Report Date : |
11.12.2014 |
IDENTIFICATION DETAILS
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Name : |
RISO INDIA PRIVATE LIMITED |
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Registered
Office : |
702, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.06.1998 |
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Com. Reg. No.: |
55-094562 |
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Capital
Investment / Paid-up Capital : |
Rs. 63.000 Millions |
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CIN No.: [Company Identification
No.] |
U30000DL1998PTC094562 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELR13520D |
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PAN No.: [Permanent Account No.] |
AADCR4540C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in selling of office automation products such as digital duplicator
machines and related consumables, spares and accessories. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dedalings 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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 DECLINED BY
|
Name : |
Mr. Sanjay Gupta |
|
Designation : |
Secretary and Finance Head |
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Contact No.: |
91-9811366590 |
|
Date : |
11.12.2014 |
LOCATIONS
|
Registered Office : |
702, |
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Tel. No.: |
91-120-4721300 |
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Mobile No.: |
91-9811366590 (Mr. Sanjay Gupta) |
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Fax No.: |
91-120-4281668 |
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E-Mail : |
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Website : |
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Corporate Office : |
B-3, Sector-4, Noida – 201301, |
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Tel. No.: |
91-120-4721300 |
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Fax No.: |
91-120 4281668 |
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E-Mail : |
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East Support Office
: |
202, Sagar Trade Cube, 104, |
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Tel. No.: |
91-33-40605004 |
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E-Mail : |
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West Support Office
: |
403, 4th Floor Corporate House, Opposite
Torrent House, Near Nirma House Off |
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Tel. No.: |
91-79-27541568 |
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E-Mail : |
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South Support
Office : |
Plot No.23, 1st Floor, |
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Tel. No.: |
91-40-40203008 |
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E-Mail : |
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Warehouse : |
Care of Fedex Express Transportation and SCS, D16/1, Okhla Industrial
Area, Phase II, New Delhi – 110020, India |
DIRECTORS
As on 22.08.2014
|
Name : |
Mr. Sanjeev Madan |
|
Designation : |
Managing Director |
|
Address : |
E-41, Sector - 30, Noida – 201303, Uttar Pradesh, India |
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Date of Birth/Age : |
14.09.1960 |
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Experience : |
32 Years |
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Date of Appointment : |
19.04.2007 |
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PAN No.: |
AAAPM5718R |
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DIN No.: |
00167447 |
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Name : |
Takashi Emukai |
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Designation : |
Director |
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Address : |
295-1, Yamashita Gumyoji Minami Ward, Yokohama, Japan |
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Date of Birth/Age : |
21.06.1963 |
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Date of Appointment : |
22.08.2014 |
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DIN No.: |
06968776 |
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Name : |
Mr. Yasuhiro Takahashi |
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Designation : |
Director |
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Address : |
1881-96, Ami-Machi Inashiki-Gun Ibaraki – 3000331, Japan |
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Date of Birth/Age : |
21.08.1954 |
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Date of Appointment : |
24.05.2010 |
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DIN No.: |
03090453 |
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Name : |
Mr. Soichiro Hashimoto |
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Designation : |
Additional Director |
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Address : |
3-8-15-410, Kishiya Tsurumi-Ku Yokohama, Kanagawa, Japan 2300078 |
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Date of Birth/Age : |
28.10.1961 |
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Date of Appointment : |
01.04.2013 |
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DIN No.: |
06559750 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Gupta |
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Designation : |
Secretary and Finance Head |
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Address : |
39, Chandra Vihar, Opposite Baba Balaknath Temple, Near I.P.
Extension, Patparganj, Delhi – 110092, India |
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Date of Birth/Age : |
11.05.1971 |
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Date of Appointment : |
19.04.2007 |
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PAN No.: |
AESPG7232E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.08.2014
|
Names of Shareholders |
No. of Shares |
|
Riso Kagaku Corporation, Japan |
6299900 |
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Riso Okinawa Corporation, Japan |
100 |
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Total |
6300000 |
As on 22.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in selling of office automation products such as digital duplicator
machines and related consumables, spares and accessories. |
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Products : |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Auditors : |
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Name : |
BSSR and Company Chartered Accountants |
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Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase-II, Gurgaon – 122002, Haryana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAKFB4430H |
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Holding and
Ultimate Holding Company : |
Riso Kagaku Corporation, Japan |
CAPITAL STRUCTURE
As on 22.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
6,300,000 |
Equity Shares |
Rs.10/- each |
Rs. 63.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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6,300,000 |
Equity Shares |
Rs.10/- each |
Rs. 63.000 Millions |
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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 |
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(1)Shareholders'
Funds |
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(a) Share Capital |
63.000 |
63.000 |
63.000 |
|
(b) Reserves & Surplus |
62.695 |
58.212 |
54.680 |
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(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 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
125.695 |
121.212 |
117.680 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
3.931 |
3.344 |
2.539 |
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Total Non-current Liabilities (3) |
3.931 |
3.344 |
2.539 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
117.914 |
122.737 |
107.743 |
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(c) Other current
liabilities |
43.919 |
14.086 |
24.868 |
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(d) Short-term provisions |
0.104 |
0.392 |
0.238 |
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Total Current Liabilities (4) |
161.937 |
137.215 |
132.849 |
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TOTAL |
291.563 |
261.771 |
253.068 |
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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 |
6.505 |
6.356 |
6.809 |
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(ii) Intangible Assets |
0.092 |
0.133 |
0.090 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
2.635 |
3.089 |
2.538 |
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(d) Long-term Loan and Advances |
2.967 |
5.279 |
5.732 |
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(e) Other Non-current assets |
0.000 |
0.225 |
0.253 |
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Total Non-Current Assets |
12.199 |
15.082 |
15.422 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
60.913 |
66.825 |
64.039 |
|
(c) Trade receivables |
58.376 |
76.766 |
56.192 |
|
(d) Cash and cash
equivalents |
107.020 |
84.225 |
103.275 |
|
(e) Short-term loans and
advances |
19.003 |
16.204 |
12.123 |
|
(f) Other current assets |
34.052 |
2.669 |
2.017 |
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Total Current Assets |
279.364 |
246.689 |
237.646 |
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|
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TOTAL |
291.563 |
261.771 |
253.068 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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TOTAL |
391.366 |
370.614 |
315.694 |
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Less |
EXPENSES |
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TOTAL |
380.755 |
363.937 |
316.462 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.611 |
6.677 |
(0.768) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.824 |
2.995 |
3.267 |
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PROFIT/
(LOSS) BEFORE TAX |
7.787 |
3.682 |
(4.035) |
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Less |
TAX |
3.304 |
0.151 |
(0.503) |
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PROFIT/ (LOSS) AFTER TAX |
4.483 |
3.531 |
(3.532) |
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EARNINGS IN
FOREIGN CURRENCY |
|
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|
Service Fee/ Commission |
0.000 |
0.804 |
1.511 |
|
|
TOTAL EARNINGS |
0.000 |
0.804 |
1.511 |
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Earnings /
(Loss) Per Share (Rs.) |
0.71 |
0.56 |
(0.56) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.70 |
1.42 |
(1.61) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
(0.03) |
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|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.80 |
1.79 |
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 |
63.000 |
63.000 |
63.000 |
|
Reserves & Surplus |
54.680 |
58.212 |
62.695 |
|
Net
worth |
117.680 |
121.212 |
125.695 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Total Income |
315.694 |
370.614 |
391.366 |
|
|
|
17.397 |
5.599 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
315.694 |
370.614 |
391.366 |
|
Profit/ (Loss) |
(3.532) |
3.531 |
4.483 |
|
|
(1.12%) |
0.95% |
1.15% |
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
CHANGE OF ADDRESS
The registered office of the company has been shifted from Flat No.503, 504 and 507, Mercantile House, 15, K.G. Marg, New Delhi – 110 001 to the present address w.e.f. 15.07.2008.
COMPANY OVERVIEW
The Company was incorporated in June 1998 as a private limited company. The Company is into the office automation product segment. Its product range consists of mainly Digital Duplicator Machines and related consumables, spares and accessories. The Company imports most of the traded items from its parent company in Japan.
PERFORMANCE
During the fiscal year 2013-14, the company achieved a total turnover of over Rs. 383.100 Millions (net of taxes) which is higher by 8.2% from the previous year. Despite non-availability of DGS&D rate contract in the next half of the fiscal year, the company managed to reach at a reasonable sales level and make profit of Rs.7.787 Millions (before tax). It is also a matter of proud that we could able to achieve both of their unit targets i.e. Risograph and Inkjet. Thanks to Riso Kagaku Corporation, Japan for their enormous support last year for various campaigns and promotions.
FUTURE PLANS
AND OBJECTIVES
· The company has very ambitious plans for next three years viz. 2014/15 - 2016/17. The company is determined to grow the sales in these years.
· The company is in the mode of increasing its sales activities and expanding the channel base.
· The company is aggressively participating in various Exhibitions and road-shows to increase its customer base.
· Various promotions and campaigns are going on with the support from Riso Japan.
· The company is focusing and making strategic plans to sell higher number of ComColor machines in the years to come.
FIXED ASSETS
Tangible Assets
· Plant and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Leasehold
Improvements
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No 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.61.95 |
|
|
1 |
Rs.97.16 |
|
Euro |
1 |
Rs.76.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.