|
Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
LIPI DATA SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
1, Mittal Chambers, Nariman Point, Mumbai - 400022, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066759 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 49.001
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36007MH1992PLC066759 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML01850C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL0916F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Electromechanical and Electronics Products, Line Printers and Sub Assemblies. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba ( 44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4880000 |
|
|
|
|
Status : |
Satsfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears sharp dip in profitability of the company during the
financial year 2013. However, general financial positon of the company seems to be sound
and healthy. Trade relations are fair. Business is active. Payments terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
|
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 (GENERAL DETAILS)
|
Name : |
Mr. Ashish Oza |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-22882960 |
|
Date : |
31.01.2014 |
LOCATIONS
|
Registered / Head Office : |
1, Mittal Chambers, Nariman Point, Mumbai – 400022, |
|
Tel. No.: |
91-22-22882960/ 22882975 |
|
Fax No.: |
91-22-22873314 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse: |
El 209, Shil Mahape Road, Mahape MIDC TTC, Vashi, Navi
Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-27683030/ 27684024 |
|
Fax No.: |
91-22-27619203 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
101, Mewar Indl. Area, Madri, Udaipur - 313003, Rajasthan, India |
|
Tel. No.: |
91-294-2499700 |
|
Fax No.: |
91-294-2492409 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Near Annapurna Hotal, Village Malku Majra, P.O. Bhud, Tehsil Nalagarh, District Solan, Baddi - 174101, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-202253/ 54 |
|
E-Mail : |
|
|
|
|
|
Factory 3: |
Unit No. 2, P.O. Dharampur Sai
Road, Baddi, Tehsil Nalagarh, District Solan
Dharampur - 173209, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-274361/ 62 |
|
|
|
|
Depot : |
Unit No. 53-56, Building No. 1, Electronic Sadan, T. T. C. Industrial Area, MIDC, Mahape, Thane, Navi Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-27680030 |
|
Fax No.: |
91-22-27670054 |
|
|
|
|
Regional Offices: |
Located At : ·
Kolkata Bangalore Chennai New Delhi |
|
|
|
|
Sales and Service Network: |
Located At: ·
Aurangabad Mumbai Vashi Kolhapur Nagpur Nasik Pune Solapur |
|
|
|
|
Branch Office : |
Located At: ·
·
·
Chennai ·
Kolkata ·
Ahmedabad ·
·
·
·
·
·
Coimbatore ·
·
Hadapsar ·
Thane ·
·
Jaipur ·
·
·
·
Mangalore ·
Trichy ·
|
DIRECTORS
As on 02.09.2013
|
Name : |
Mr. Sameer Piyush Singhal |
|
Designation : |
Joint Managing Director |
|
Address : |
109/110, Samudra Mahal, |
|
Date of Birth/ Age: |
22.12.1972 |
|
Qualification : |
BSC Computer Engg |
|
Date of Appointment : |
01.07.2003 |
|
PAN No. : |
AAGPS9259P |
|
DIN No.: |
00010793 |
|
|
|
|
Name : |
Mr. Surendra Kumar Vikal |
|
Designation : |
Director |
|
Address : |
703 Godavari, G Director Shantivan, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
11.03.1948 |
|
Date of Appointment : |
25.07.2012 |
|
DIN No. : |
02162675 |
|
|
|
|
Name : |
Mr. Rishab Mukul Singhal |
|
Designation : |
Managing director |
|
Address : |
205, Samudra Mahal, Dr. A.B. Road, Worli, Mumbai - 400018 |
|
Date of Birth/Age : |
09.16.1989 |
|
Qualification : |
MBA |
|
Date of Appointment : |
07.09.2011 |
|
PAN No. : |
BQQPS6129F |
|
DIN No. : |
03617102 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Oza |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Singhal Mukul Jt. Chemicals International (Mumbai) Private Limited |
|
10 |
|
Samuk Holding Private Limited, India |
|
400000 |
|
Mukul Singhal |
|
1000000 |
|
Sameer Singhal |
|
800000 |
|
Sameer Singhal Jt. Shilpa Singhal |
|
200000 |
|
Chemicals International (Mumbai) Private Limited, India |
|
2500070 |
|
Total |
|
4900080 |
As on 02.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
59.18 |
|
Directors or relatives of Directors |
40.82 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Electromechanical and Electronics Products, Line Printers and Sub Assemblies. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Finished Goods |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
L/C and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Hardware |
Nos. |
30200 |
9053 |
|
Sub Assembly |
Nos. |
100000 |
-- |
|
Cartridges |
Nos. |
10000 |
5955 |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri,
Baroda - 390015, Gujarat, India · The Bank of Rajasthan Limited, Overseas Branch Mittal Tower C Wing, Mumbai - 400021, Maharashtra, India Canara Bank, Overseas Branch, Nariman Point, Mumbai –
400021, Maharashtra, India HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra, India · Corporation Bank, Fort Branch, Veena Chambers, 21, Dalal Street, Fort, Mumbai - 400023, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
NOTE LONG TERM BORROWINGS Form ICICI Bank Limited Rs. 33.000 Millions Secured against mortgage of specific flat and guaranteed by directors Form HDFC Bank Limited Rs. 77.200 Millions Secured against property at specific branches and guaranteed by directors SHORT TERM BORROWINGS State Bank of Bikaner and Jaipur 1759 Corporation Bank 885
Secured against hypothecation of Raw Materials, Stock in process, finished
goods, book debts and collateral security on the fixed assets by way of first
charge of Udaipur factory |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Bhandari and Company Chartered Accountants |
|
Address : |
Shah Market, 1st Floor, Pali Bazar, Beawar -
305901, Rajasthan, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AARPB8590K |
|
|
|
|
Holding Company: |
Chemicals International (Mumbai) Private Limited, India CIN No.:U99999MH2005PTC157080 |
|
|
|
|
Associates -
Companies and Firms: |
· Computronics Financial Services (India) Limited, Mumbai Samuk Holding Private Limited, Mumbai P.P. Singhal and Company, Mumbai Chemicals International Mumbai (Private) Limited, Mumbai Lipi Infrastructure Private Limited, Mumbai |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4900080 |
Equity Shares |
Rs.10/- each |
Rs. 49.001
Millions |
|
|
|
|
|
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 |
49.001 |
49.001 |
49.001 |
|
(b) Reserves & Surplus |
1170.800 |
1149.100 |
693.300 |
|
(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) |
1219.801 |
1198.101 |
742.301 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
86.000 |
101.000 |
99.300 |
|
(b) Deferred tax liabilities (Net) |
0.800 |
1.000 |
0.700 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
25.600 |
23.500 |
22.800 |
|
Total Non-current Liabilities (3) |
112.400 |
125.500 |
122.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
264.400 |
371.200 |
236.400 |
|
(b) Trade payables |
382.500 |
324.800 |
163.800 |
|
(c) Other current
liabilities |
94.500 |
155.000 |
152.500 |
|
(d) Short-term provisions |
1.900 |
2.200 |
31.200 |
|
Total Current Liabilities (4) |
743.300 |
853.200 |
583.900 |
|
|
|
|
|
|
TOTAL |
2075.501 |
2176.801 |
1449.001 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
851.300 |
888.000 |
416.000 |
|
(ii) Intangible Assets |
9.300 |
10.100 |
12.500 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
19.600 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
4.301 |
4.301 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
30.900 |
28.700 |
34.800 |
|
(e) Other Non-current assets |
1.101 |
15.800 |
12.200 |
|
Total Non-Current Assets |
892.601 |
946.901 |
499.401 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
486.600 |
367.500 |
275.700 |
|
(c) Trade receivables |
591.200 |
698.100 |
534.200 |
|
(d) Cash and cash
equivalents |
52.700 |
110.800 |
73.800 |
|
(e) Short-term loans and advances |
50.300 |
44.800 |
65.700 |
|
(f) Other current assets |
2.100 |
8.700 |
0.200 |
|
Total Current Assets |
1182.900 |
1229.900 |
949.600 |
|
|
|
|
|
|
TOTAL |
2075.501 |
2176.801 |
1449.001 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2420.100 |
2485.100 |
1962.200 |
|
|
|
Other Income |
46.200 |
25.300 |
37.500 |
|
|
|
TOTAL |
2466.300 |
2510.400 |
1999.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
597.700 |
592.700 |
564.300 |
|
|
|
Purchases of stock-in-trade |
1283.300 |
1301.900 |
869.700 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(34.300) |
(39.900) |
(41.700) |
|
|
|
Employee benefit expense |
234.900 |
238.500 |
192.200 |
|
|
|
Other expenses |
253.700 |
281.400 |
203.600 |
|
|
|
TOTAL |
2335.300 |
2374.600 |
1788.100 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
131.000 |
135.800 |
211.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
57.100 |
58.700 |
40.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
73.900 |
77.100 |
171.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
50.000 |
53.700 |
47.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE EXTRAORDINARY ITEMS AND TAX |
23.900 |
23.400 |
124.100 |
|
|
|
|
|
|
|
|
|
Less |
EXTRAORDINARY ITEMS |
0.300 |
(2.900) |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
23.600 |
26.300 |
123.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.900 |
8.500 |
28.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
21.700 |
17.800 |
94.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sale |
0.000 |
0.000 |
0.609 |
|
|
|
Commission, Brokerage and Discount |
0.000 |
0.000 |
0.307 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
0.916 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
479.501 |
504.133 |
391.923 |
|
|
|
Finished Goods, Hardware Purchases and Spares |
632.111 |
298.205 |
290.799 |
|
|
|
Capital Goods |
0.569 |
0.000 |
45.883 |
|
|
TOTAL IMPORTS |
1112.181 |
802.338 |
728.605 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.43 |
3.63 |
9.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.88
|
0.71 |
4.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.98
|
1.06 |
6.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14
|
1.21 |
8.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.39 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.44 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
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 |
24.200 |
32.400 |
31.600 |
|
|
|
|
|
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10474283 |
13/01/2014 |
350,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
CHETAK CIRCLE
BRANCH, UDAIPUR - 313001, RAJASTHAN, |
B94969300 |
|
2 |
10348734 |
31/03/2012 |
240,000,000.00 |
CORPORATION BANK |
FORT BRANCH, VEENA CHAMBERS, 21, DALAL STREET, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B37292802 |
|
3 |
10332228 |
09/01/2012 |
184,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
CHETAK CIRCLE
BRANCH, UDAIPUR - 313001, RAJASTHAN, |
B30697676 |
|
4 |
10258094 |
10/12/2010 |
137,800,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B00854695 |
|
5 |
10236751 |
10/01/2012 * |
50,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
CHETAK CIRCLE
BRANCH, UDAIPUR - 313001, RAJASTHAN, |
B30698005 |
|
6 |
10187147 |
29/09/2009 |
40,000,000.00 |
CORPORATION BANK |
FORT BRANCH, VEENA CHAMBERS, 21, DALAL STREET, FORT, MUMBAI - 400021, MAHARASHTRA, INDIA |
A73464737 |
|
7 |
10122846 |
25/01/2014 * |
121,100,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B95161113 |
|
8 |
90167132 |
17/12/2002 |
35,000,000.00 |
ICICI BANK LTD. |
ICICI TOWERS BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA INDIA |
- |
|
9 |
90163399 |
05/03/2013 * |
940,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
CHETAK CIRCLE, UDAIPUR - 313001, RAJASTHAN, INDIA |
B71438030 |
* Date of charge modification
BUSINESS OPERATIONS:
The current year operations have been severely affected because of increase in the material cost due to rupees getting weaker coupled with other all inflationary factors set in economy has pushed up salaries and also other expenses. The Directors regret that there been severe competition in the industry, the company could not be able to pass on increase in the cost to the customers.
Company has provided for forex loss of Rs.16.100 Millions as against a forex gain of Rs. 12.300 Millions in the previous period.
ATM PROJECT AT BADDI
(H.P.):
Baddi unit manufacturing Printers is working satisfactorily.
As regards to unit II manufacturing ATM machines in Baddi there were teething problems, which took time to resolve and ultimately all the problems of the Unit II have been rectified and the production started smoothly.
INDUSTRY OUTLOOK:
The outlook of the hardware industry gives promising indications because of all the government agencies to be transparent are giving emphasis on automation with a view to be transparent. This automation will provide exponential increase in the opportunity in hardware industry. The entry of foreign brands and high deficit pushing up the cost and further rupee against dollar is weakening the Indian manufacturing is badly hit because of their margins being severely affected.
With all the factors in view, the companies operating in India have slashed their budget for IT. The Company is all the time conscious of the problems and management is taking corrective steps by taking up new foreign agencies so that bottom line could be improved. Having regard to the current scenario the directors would like to state that the current year operations will show a moderate growth but the margins will be under
tremendous pressure.
BUSINESS PARTNERSHIP
During the year the company entered in to arrangement with Panini S.p.A., Italian Co in Scanner business and also M/s. Julong for the Note Sorting Machine. Directors are hopeful that these trading partnerships will bring good amount of revenue and profits to the Company.
ACHIEVEMENT
The Company bagged the order for 500 Machines to be delivered to the Axis bank during the year.
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
v
Intangible Assets
Computer
Software
Copyrights,
Patents and Other Operating Rights
Other
Intellectual Property Rights
Recipes,
Formulae, Models, Designs and Prototypes
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.62.73 |
|
|
1 |
Rs.103.87 |
|
Euro |
1 |
Rs.85.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.