MIRA
INFORM REPORT
|
Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND INFOSYSTEMS LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.03.1993 |
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Com. Reg. No.: |
04-019094 |
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Capital
Investment / Paid-up Capital : |
Rs.58.850
Millions |
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CIN No.: [Company Identification
No.] |
L24110GJ1993PLC019094 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Providing Information Technology Services. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 776500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There is a dip in profit of the company in the year 2013. However,
liquidity position of the company is strong. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered normal for business dealing 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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DECLINED
Management non co-operative [91-265-2283969]
LOCATIONS
|
Registered Office/
Corporate Office : |
Essen Info Park5/9-10, BIDC Gorwa, Baroda – 390016, Gujarat, India |
|
Tel. No.: |
91-265-2283969/ 2284328/ 3931234 |
|
Fax No.: |
91-265-2284328 |
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E-Mail : |
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Website : |
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Regional Office : |
Located At: · Mumbai · Chennai · Delhi · Jaipur · Indore · Ahmedabad |
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Overseas Office : |
Located At: · USA · Rwanda · UAE |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sumit Suresh Bhatnagar |
|
Designation : |
Managing Director |
|
Address : |
6, Green Park Society, Nizampura, Vadodara-390002, Gujarat, India |
|
Date of Birth/Age : |
20.10.1972 |
|
Date of Appointment : |
09.03.1993 |
|
Din No.: |
00776129 |
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|
Name : |
Mr. Prakash Sinha |
|
Designation : |
Director |
|
Address : |
R-20, Nehru Enclave, Gomti Nagar, Lucknow-226020, Uttar Pradesh, India
|
|
Date of Birth/Age : |
07.03.1938 |
|
Date of Appointment : |
29.04.2002 |
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Din No.: |
00775879 |
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Name : |
Mr. Amit Suresh Bhatnagar |
|
Designation : |
Director |
|
Address : |
6, Green Park Society, Nizampura, Vadodara-390002, Gujarat, India |
|
Date of Birth/Age : |
12.02.1970 |
|
Date of Appointment : |
09.03.1993 |
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Din No.: |
00775880 |
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|
Name : |
Mr. Gajendra Narayan Verma |
|
Designation : |
Director |
|
Address : |
R/O Laxmi Cottage, New Colony, Dungarpur-314001, Rajasthan, India |
|
Date of Birth/Age : |
25.09.1921 |
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Date of Appointment : |
07.01.1995 |
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Din No.: |
01869397 |
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Name : |
Mr. Suresh Narain Bhatnagar |
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Designation : |
Director |
|
Address : |
6, Green Park Society, Nizampura, Vadodara-390002, Gujarat, India |
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Date of Birth/Age : |
10.09.1941 |
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Date of Appointment : |
09.03.1993 |
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Din No.: |
01661444 |
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Name : |
Namo Narain Bhatnagar |
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Designation : |
Director |
|
Address : |
67, Oriental Apartment, Sector 9, Rohini, Delhi-110085, India |
|
Date of Birth/Age : |
10.04.1947 |
|
Date of Appointment : |
27.09.2011 |
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Din No.: |
02389040 |
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Name : |
Triloki Narayan Bhatnagar |
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Designation : |
Director |
|
Address : |
3 DA-8, Jawahar Nagar, Jaipur-302004, Rajasthan, India |
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Date of Birth/Age : |
02.03.1937 |
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Date of Appointment : |
29.04.2002 |
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Din No.: |
02397298 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2013
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
175750 |
2.99 |
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|
2476745 |
42.09 |
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|
2652495 |
45.07 |
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|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2652495 |
45.07 |
|
(B) Public Shareholding |
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|
|
|
|
|
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|
725000 |
12.32 |
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|
725000 |
12.32 |
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|
|
|
|
|
900 |
0.02 |
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|
|
|
|
|
99824 |
1.70 |
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|
2406781 |
40.90 |
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|
2507505 |
42.61 |
|
Total Public shareholding (B) |
3232505 |
54.93 |
|
Total (A)+(B) |
5885000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
5885000 |
0.00 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE
SECURITIES) OF PERSONS BELONGING TO THE CATEGORY “PROMOTER AND PROMOTER GROUP”
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
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|
|
|
No. of Shares
held |
As a % of |
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|
|
|
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|
1 |
Diamond Projects Private Limited |
23,07,845 |
39.22 |
|
2 |
S N Bhatnagar |
1,75,750 |
2.99 |
|
3 |
Sumit Associates |
1,68,900 |
2.87 |
|
|
Total |
26,52,495 |
45.07 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE
SECURITIES) OF PERSONS BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING MORE THAN
1% OF THE TOTAL NUMBER OF SHARES
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Administrator of the Specified |
725000 |
12.32 |
|
2 |
Suresh N Bhatnagar |
628141 |
10.67 |
|
3 |
Amit Suresh |
537212 |
9.13 |
|
4 |
Sumit Suresh |
498323 |
8.47 |
|
5 |
Madhurilata Bhatnagar |
326905 |
5.55 |
|
6 |
Richa Bhatnagar |
173200 |
2.94 |
|
7 |
Mona Bhatnagar |
173200 |
2.94 |
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|
Total |
3061981 |
52.03 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES)
OF PERSONS (TOGETHER WITH PAC) BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING
MORE THAN 5% OF THE TOTAL NUMBER OF SHARES OF THE COMPANY
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Administrator of the Specified |
725000 |
12.32 |
|
2 |
Suresh N Bhatnagar |
628141 |
10.67 |
|
3 |
Amit Suresh |
537212 |
9.13 |
|
4 |
Sumit Suresh |
498323 |
8.47 |
|
5 |
Madhurilata Bhatnagar |
326905 |
5.55 |
|
|
Total |
2715581 |
46.14 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
· Corporation Bank · Citibank · Allahabad Bank · HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijay Tewar and Company Chartered Accountants |
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Address : |
315-316, Panorama, R.C. Dutt Road, Vadodara – 390007, Gujarat, India |
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PAN No: |
ABJPT8933H |
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Other Related Parties : |
· Diamond Projects Limited · Diamond Power Infrastructure Limited · Diamond Power Transformors Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5885000 |
Equity Shares |
Rs.10/- each
|
Rs.58.850
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 |
58.850 |
58.850 |
58.850 |
|
(b) Reserves & Surplus |
119.169 |
96.760 |
70.286 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
16.117 |
16.117 |
16.118 |
|
Total
Shareholders’ Funds (1) + (2) |
194.136 |
171.727 |
145.254 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.233 |
0.604 |
|
(b) Deferred tax liabilities (Net) |
0.240 |
0.187 |
0.001 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.323 |
0.294 |
0.371 |
|
Total Non-current
Liabilities (3) |
0.563 |
0.714 |
0.976 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
11.569 |
5.670 |
0.000 |
|
(b)
Trade payables |
303.245 |
433.816 |
500.019 |
|
(c)
Other current liabilities |
4.734 |
4.162 |
8.468 |
|
(d) Short-term
provisions |
4.313 |
7.661 |
1.117 |
|
Total Current
Liabilities (4) |
323.861 |
451.309 |
509.604 |
|
|
|
|
|
|
TOTAL |
518.560 |
623.750 |
655.834 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
31.410 |
32.698 |
32.959 |
|
(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 |
85.919 |
82.926 |
34.753 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.868 |
23.259 |
22.930 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
141.197 |
138.883 |
90.642 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.756 |
0.754 |
0.000 |
|
(c)
Trade receivables |
361.048 |
479.181 |
558.901 |
|
(d) Cash
and cash equivalents |
1.714 |
1.770 |
0.824 |
|
(e) Short-term
loans and advances |
13.484 |
2.715 |
5.467 |
|
(f)
Other current assets |
0.361 |
0.447 |
0.000 |
|
Total
Current Assets |
377.363 |
484.867 |
565.192 |
|
|
|
|
|
|
TOTAL |
518.560 |
623.750 |
655.834 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2868.401 |
4186.060 |
3137.051 |
|
|
|
Other Income |
11.919 |
9.107 |
4.567 |
|
|
|
TOTAL (A) |
2880.320 |
4195.167 |
3141.618 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2829.128 |
4136.954 |
3114.208 |
|
|
|
Employee benefit expense |
16.262 |
15.065 |
8.500 |
|
|
|
Other expenses |
5.482 |
5.021 |
5.243 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(0.002) |
(0.754) |
0.000 |
|
|
|
Extraordinary items |
0.000 |
0.000 |
(0.496) |
|
|
|
TOTAL (B) |
2850.870 |
4156.286 |
3127.455 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.450 |
38.881 |
14.163 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.722 |
0.399 |
0.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.728 |
38.482 |
14.086 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.767 |
0.821 |
0.795 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
26.961 |
37.661 |
13.291 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.552 |
11.187 |
3.401 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
22.409 |
26.474 |
9.890 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
22.409 |
26.474 |
9.890 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.81 |
4.50 |
1.68 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
716.800 |
873.600 |
169.400 |
|
Total Expenditure |
711.400 |
872.200 |
170.400 |
|
PBIDT (Excl OI) |
5.400 |
01.300 |
(01.000) |
|
Other Income |
0.300 |
00.300 |
03.900 |
|
Operating Profit |
5.700 |
1.700 |
02.900 |
|
Interest |
0.500 |
0.500 |
0.500 |
|
PBDT |
5.200 |
1.200 |
02.300 |
|
Depreciation |
0.000 |
0.00 |
0.000 |
|
Profit Before Tax |
5.200 |
1.200 |
02.300 |
|
Tax |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
5.200 |
1.200 |
02.300 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Net Profit |
5.200 |
1.200 |
02.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.78
|
0.63 |
0.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.94
|
0.90 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.23
|
6.96 |
2.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.22 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.05
|
0.03 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.07 |
1.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
58.850 |
58.850 |
58.850 |
|
Reserves & Surplus |
70.286 |
96.760 |
119.169 |
|
Net
worth |
129.136 |
155.610 |
178.019 |
|
|
|
|
|
|
long-term borrowings |
0.604 |
0.233 |
0.000 |
|
Short term borrowings |
0.000 |
5.670 |
11.569 |
|
Total
borrowings |
0.604 |
5.903 |
11.569 |
|
Debt/Equity
ratio |
0.005 |
0.038 |
0.065 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
3137.051 |
4186.060 |
2868.401 |
|
|
|
33.439 |
(31.477) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
3137.051 |
4186.060 |
2868.401 |
|
Profit |
9.890 |
26.474 |
22.409 |
|
|
0.32% |
0.63% |
0.78% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF 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 |
0.000 |
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10330565 |
23/12/2011 |
10,000,000.00 |
CORPORATION BANK |
14-15 NATIONAL
PLAZA, RC DUTT ROAD, ALKAPURI, VADODARA - 390005, GUJARAT, INDIA |
B30149983 |
REVOCATION OF SUSPENSION OF LISTING:
Their valued and
loyal shareholders that the company's scrip which was suspended by Bombay Stock
Exchange (BSE) in 2002 due to penal provisions is re-listed on the Bombay Stock
Exchange again.
CURRENT OPERATIONS:
In today's rapidly
changing business scenario, information is the power to propel ahead. Today
with the advancement of science and technology, information is growing not
merely by bytes but by terabytes and dealing with such voluminous information
is a huge challenge for businesses to make quick and speedy decisions. Subject,
a group company of Diamond Power, is amongst the fastest upcoming and growing
services, BPO and Product Engineering companies.
FUTURE PROSPECTS:
The Company
sustains a relentless competitive focus as the economic climate is expected to
remain challenging. The Company will continue to deploy resources in a focused manner
to secure stakeholder interest and pursue growth. The future prospectus of the
industry is grim thus it is very important for them to sustain and venture into
new and better areas within the IT industry to survive and make the entity
profitable. As a measure of the same, it gives them immense that subject would
be soon opening an office in Dubai followed by South Africa and New Zealand to
manage its business operations abroad.
FIXED ASSETS:
· Buildings
· Assets under lease
· Furniture and Fixtures
· Assets under lease
· Vehicles
· Office Equipment
· Computers
· Electrical Installations
· EIS Division
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 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] 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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.