|
Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
B T INFOSYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-38, Solarisi, Opposite Larsen and Toubro, Gate No.6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.07.1999 |
|
|
|
|
Com. Reg. No.: |
11-120951 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72300MH1999PTC120951 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB16007F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB5235E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Dealer of Computer and IT Products. |
|
|
|
|
No. of Employees
: |
12 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 99000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Liquidity position of the company appears to be strong. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to retain
100 per cent foreign direct investment in both greenfield (new) and brown field
(existing) pharmaceutical companies, despite concerns over genetic drugs going
out of production, if multi-national companies take over domestic ones. In
M&A deals, a non-compete clause would not be allowed, except in special
circumstances. The Department of Industrial Policy and Promotion plans to
release the next edition of its consolidated foreign direct investment policy
document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India committee
has recommended setting up a special category of lenders who would cater to
small businesses and households, to expand the number of customers with access
to banking services. These banks would focus on providing payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-8976225507 |
|
Date : |
31.01.2014 |
LOCATIONS
|
Registered Office : |
B-38, Solarisi, Opposite Larsen and Toubro, Gate No.6, Saki Vihar
Road, Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-40052000/ 40052109/ 42112026 |
|
Mobile No.: |
91-8976225507 (Mr. Mahesh) |
|
Fax No.: |
91-22-40052102 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
D-153/ 154, Solaris 1, Opposite Larsen and Toubro Gate No.6, Saki
Vihar Road, Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-42112000 (Board Line) |
|
Fax No.: |
91-22-40052105 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Balasaheb Shankar Tupe |
|
Designation : |
Director |
|
Address : |
B/1101, Avalon Hiranandani Garden, Mumbai – 400076, Maharashtra, India
|
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
22.07.1999 |
|
DIN No.: |
02533970 |
|
|
|
|
Name : |
Mrs. Vandana Balasaheb Tupe |
|
Designation : |
Director |
|
Address : |
B/1101, Avalon Hiranandani Garden, Mumbai – 400076, Maharashtra, India
|
|
Date of Birth/Age : |
26.04.1970 |
|
Date of Appointment : |
22.07.1999 |
|
DIN No.: |
00682036 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Balasaheb Shankar Tupe |
|
5000 |
|
Vandana Balasaheb Tupe |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Dealer of Computer and IT Products. |
|
|
|
|
Imports : |
|
|
Products : |
IT Products |
|
Countries : |
· China Israel |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit (30 Days) and CAD |
GENERAL INFORMATION
|
Suppliers : |
River Bed, China |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
Corporates · Larsen and Toubro, Powai |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
12 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited Shuras Centre, Andheri , Mumbai, Maharashtra, India · Canara Bank Saki Vihar Branch, Mumbai, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. K. Loonker And Company Chartered Accountants |
|
Address : |
11/13, Botawala Building, 2nd Floor, Room No. 5, Horniman Circle, Fort, Mumbai
– 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22673313 |
|
Fax No.: |
91-22-22612838 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABPL1875D |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
24.644 |
17.554 |
10.495 |
|
(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) |
24.744 |
17.654 |
10.595 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.431 |
0.169 |
0.122 |
|
(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) |
0.431 |
0.169 |
0.122 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
10.127 |
0.000 |
0.000 |
|
(b)
Trade payables |
11.011 |
30.638 |
49.175 |
|
(c) Other
current liabilities |
3.586 |
2.918 |
0.000 |
|
(d) Short-term
provisions |
1.010 |
2.277 |
4.285 |
|
Total Current
Liabilities (4) |
25.734 |
35.833 |
53.460 |
|
|
|
|
|
|
TOTAL |
50.909 |
53.656 |
64.177 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3.504 |
1.514 |
2.038 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.300 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3.504 |
1.514 |
2.338 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5.968 |
9.888 |
0.221 |
|
(c)
Trade receivables |
8.625 |
17.994 |
58.373 |
|
(d) Cash
and cash equivalents |
18.889 |
10.199 |
1.814 |
|
(e)
Short-term loans and advances |
13.690 |
14.007 |
1.402 |
|
(f)
Other current assets |
0.233 |
0.054 |
0.029 |
|
Total
Current Assets |
47.405 |
52.142 |
61.839 |
|
|
|
|
|
|
TOTAL |
50.909 |
53.656 |
64.177 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
NET SALES AND
OTHER OPERATIONAL INCOME |
113.957 |
139.358 |
95.529 |
|
|
|
|
|
|
|
|
EXPENDITURE |
106.549 |
132.253 |
91.342 |
|
|
|
|
|
|
|
|
DEPRECIATION
|
1.423 |
0.642 |
0.332 |
|
|
|
|
|
|
|
|
NET PROFIT |
7.407 |
7.059 |
3.963 |
|
|
|
|
|
|
|
|
TAXATION
|
0.207 |
0.046 |
0.081 |
Expected Sales (2013-2014): Rs. 150.000 Millions
The above information has been parted by Mr. Mahesh (Accounts Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
1.46 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of Long Term Debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
TRADE REFERENCES:
· River Bed, China
Larsen
and Toubro, Powai
FIXED ASSETS:
Office
Premises
Furniture
and Fixture
Office
Equipment
Other
Equipment
Other
(Computer)
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. 62.48 |
|
|
1 |
Rs. 102.95 |
|
Euro |
1 |
Rs. 84.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--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.