MIRA INFORM REPORT
|
Report Date : |
18.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
INFODART TECHNOLOGIES INDIA LIMITED |
|
|
|
|
Registered
Office : |
Auto Cars Compound, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-173052 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2007PLC173052 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKI00703D |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Dearer and Distributors of Computer Peripherals. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Videocon Group Worldwide. It is an established
company having satisfactory track record. Management of the company has failed to file its financial for the
year 2014 with the government department. As per available financial of 2013, financial position of the company
seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DENIED BY
|
Name : |
Mr. Rajat Mehra |
|
Designation : |
HR Manager |
|
Contact No.: |
91-9818739256 |
|
Date : |
18.12.2014 |
LOCATIONS
|
Registered
Office : |
Auto Cars Compound, |
|
Tel. No.: |
91-240-2343429 / 3203102 |
|
Mobile No.: |
91-9818739256 (Mr. Rajat Mehra ) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Head Office : |
6th Floor, Plot No. 296, Udyog Vihar, Phase II,
Gurgaon-122015, |
|
Tel No.: |
91-124-3011960 |
|
|
|
|
Business Centre
: |
Bansilal Nagar, |
|
Tel. No.: |
91-240-3203104 |
|
|
|
|
|
Railway |
|
|
|
|
Gurgaon Office : |
1st Floor, Plot No.- 254, Udyog Vihar Phase-IV, Gurgaon – 122015, Haryana, India |
|
|
|
|
|
Flat No. 24-47/1, Plot No. B 8/3, Block No. 3, IDA
Uppal, |
DIRECTORS
AS ON: 23.09.2013
|
Name : |
Mr. Pradipkumar Nandlal Dhoot |
|
Designation : |
Director |
|
Address : |
99, 400006 |
|
Date of
Birth/Age : |
22.03.1960 |
|
Date of
Appointment : |
13.08.2007 |
|
Din No.: |
01635315 |
|
|
|
|
Name : |
Mr. Shivram Tukaram Dhamane |
|
Designation : |
Additional Director |
|
Address : |
Sevanand Tiwari Chawl, Kurar Village, Malad (East), Shivaji Nagar,
Mumbai-400097, Maharashtra, India |
|
Date of
Birth/Age : |
01.06.1973 |
|
Date of
Appointment : |
15.12.2010 |
|
Din No.: |
03348337 |
|
|
|
|
Name : |
Mr. Pawan Krishnakant Kalra |
|
Designation : |
Director |
|
Address : |
L-51,Sarita Vihar, New Delhi - 110044,Delhi,India |
|
Date of
Birth/Age : |
10.01.1969 |
|
Qualification : |
MBA |
|
Date of Appointment
: |
13.08.2007 |
|
Din No.: |
01635722 |
KEY EXECUTIVES
|
Name : |
Mr. Rajat Mehra |
|
Designation : |
HR Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 23.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pradipkumar Nandlal Dhoot |
|
24980 |
|
Anirudha V. Dhoot |
|
24970 |
|
Sushil R. Jaju |
|
10 |
|
Kavishwar B. Patil |
|
10 |
|
Vilas R. Saluke |
|
10 |
|
Chandrashekhar A. Nagarkar |
|
10 |
|
Vasant S. Kakde |
|
10 |
|
|
|
|
|
TOTAL
|
|
50000 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 23.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
49.96 |
|
Other top fifty shareholders |
50.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dearer and Distributors of Computer Peripherals. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Supplier : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Available |
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|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KSS and Company Chartered Accountants |
|
Address : |
3801, Barde Lane, Navi Peth, Ahmednagar-414001, Maharashtra, India |
|
PAN No.: |
AAIFK3397A |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
|
|
|
|
|
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
26.622 |
20.275 |
9.588 |
|
(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) |
27.122 |
20.775 |
10.088 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.643 |
4.074 |
3.740 |
|
Total Non-current
Liabilities (3) |
5.643 |
4.074 |
3.740 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
25.148 |
19.373 |
28.190 |
|
(c) Other
current liabilities |
113.525 |
108.339 |
76.812 |
|
(d) Short-term
provisions |
1.088 |
0.807 |
0.825 |
|
Total Current
Liabilities (4) |
139.761 |
128.519 |
105.827 |
|
|
|
|
|
|
TOTAL |
172.526 |
153.368 |
119.655 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8.070 |
5.560 |
5.920 |
|
(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 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.070 |
0.113 |
0.757 |
|
(d) Long-term Loan and Advances |
35.518 |
32.083 |
24.495 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
43.658 |
37.756 |
31.172 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5.393 |
5.266 |
5.254 |
|
(c) Trade
receivables |
101.609 |
62.992 |
51.121 |
|
(d) Cash
and cash equivalents |
18.767 |
24.211 |
19.764 |
|
(e)
Short-term loans and advances |
1.044 |
22.793 |
12.242 |
|
(f) Other
current assets |
2.055 |
0.350 |
0.102 |
|
Total
Current Assets |
128.868 |
115.612 |
88.483 |
|
|
|
|
|
|
TOTAL |
172.526 |
153.368 |
119.655 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
217.961 |
214.327 |
196.888 |
|
|
|
Other Income |
3.322 |
5.255 |
2.535 |
|
|
|
TOTAL |
221.283 |
219.582 |
199.423 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
20.866 |
11.491 |
45.377 |
|
|
|
Changes in Inventories of Stock-in-Trade |
(0.126) |
(0.011) |
0.253 |
|
|
|
Employee Benefits Expense |
135.534 |
133.463 |
102.497 |
|
|
|
Other Expenses |
53.098 |
56.826 |
43.531 |
|
|
|
TOTAL |
209.372 |
201.769 |
191.658 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.911 |
17.813 |
7.765 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.241 |
0.967 |
0.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
10.670 |
16.846 |
6.885 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.324 |
6.194 |
2.369 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.346 |
10.652 |
4.516 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.630 |
6.290 |
3.230 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
126.93 |
213.75 |
90.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
2.91 |
4.97 |
2.29 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
5.46 |
8.31 |
3.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.19 |
10.99 |
5.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.81 |
0.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.90 |
0.84 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
9.588 |
20.275 |
26.622 |
|
Net worth |
10.088 |
20.775 |
27.122 |
|
|
|
|
|
|
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 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
196.888 |
214.327 |
217.961 |
|
|
|
8.857 |
1.696 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
196.888 |
214.327 |
217.961 |
|
Profit |
4.516 |
10.652 |
6.346 |
|
|
2.29% |
4.97% |
2.91% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF 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 |
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 |
No |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Electrical Installation
- Computer
- Furniture and Fixtures
- Office Equipment
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.63.58 |
|
|
1 |
Rs.99.98 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.