|
Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEW ERA INFORMATIQUE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
314, 3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.06.2006 |
|
|
|
|
Com. Reg. No.: |
11-162912 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH2006PTC162912 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13962E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN3251D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing complete IT solutions including sales,
service and distribution of computer hardware, software and peripherals from leading
manufacturers, as well as a complete range of technology management services. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 145000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a fine track record. There appears some dip in the profits of the company during current
year. However, networth of the company appears good. General financial position
of the company appears sound. No borrowings recorded by the company. Trade relations are reported as fair. Business is active. Payments are
reported to be are regular 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 BY
|
Name : |
Mr. Mahendra |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-22-42156645 |
|
Date : |
08.01.2014 |
LOCATIONS
|
Registered Office : |
314, 3rd Floor, Kuntal Building, Modi Estate, LBS Marg,
Ghatkopar (West), Mumbai – 400 086, Maharashtra, India |
|
Tel. No.: |
91-22-42156645/ 42156644 Technical Support: 91-22-42156662-65 Sales and Marketing: 022-42156647-55 |
|
Fax No.: |
91-22-42156659 |
|
E-Mail : |
mahindra@newera-technology.com
Technical Support: support@newera-technologies.com
Sales and Marketing: sales@newera-technologies.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Service Centre : |
120, Saurab Building, Modi Estate, LBS Marg, Ghatkopar (West), Mumbai
– 400 086, Maharashtra, India |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Dinesh Ramesh Ochani |
|
Designation : |
Director |
|
Address : |
605, Winona, Hiranandani Estate, Ghodbunder Road, Thane – 400 607,
Maharashtra, India |
|
Date of Birth/Age : |
25.05.1976 |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
01870189 |
|
|
|
|
Name : |
Mr. Naresh Ramesh Ochani |
|
Designation : |
Director |
|
Address : |
605, Winona, Hiranandani Estate, Ghodbunder Road, Thane – 400 607,
Maharashtra, India |
|
Date of Birth/Age : |
25.01.1971 |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
01913978 |
KEY EXECUTIVES
|
Name : |
Mr. Mahendra |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Ramesh Ochani |
|
650 |
|
Naresh Ramesh Ochani |
|
350 |
|
Total |
|
1000 |
AS ON 27.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing complete IT solutions including sales, service
and distribution of computer hardware, software and peripherals from leading
manufacturers, as well as a complete range of technology management services. |
GENERAL INFORMATION
|
Suppliers : |
·
Ankit Stationary and Xerox ·
Bharti Airtel Limited ·
Blue Dart Express Limited ·
Falcon Refrigeration ·
Printer Solution ·
Logix Express Private Limited ·
Gurdeepsingh H. Purswani ·
Prism Art Printer |
|
|
|
|
Customers : |
·
Yatra Online (Private) Limited ·
TV 18 Broadcast Limited ·
Actimedia Private Limited ·
KD Trading Company ·
Parag Milk Foods Private Limited ·
Web 18 Software Services Limited ·
BR Enterprises
|
|
|
|
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
·
IndusInd Bank Limited, Opera House Branch, Mumbai
– 400 001, Maharashtra, India ·
Bank of Maharashtra ·
ICICI Bank Limited ·
IndusInd Bank Limited, IndusInd House, 425,
Dadasaheb Bhadkamkar Marg, Mumbai – 400 004, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.A. Gurdeepsingh H. Purswani Chartered Accountant |
|
Address : |
3, Samarpan Complex, Opposite Power House, Sector - 17, Ulhasnagar –
421 003, Maharashtra, India |
|
Tel. No.: |
91-251-2708817/ 6447459 |
|
Mobile No.: |
91-9699935666/ 9665048817 |
|
Tele-Fax No.: |
91-251-2708817 |
|
E-Mail: |
|
|
PAN No.: |
ABBPP0378C |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- 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 |
36.209 |
29.192 |
20.326 |
|
(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) |
36.309 |
29.292 |
20.426 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.039 |
0.048 |
0.056 |
|
(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) |
0.039 |
0.048 |
0.056 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
19.199 |
24.192 |
17.882 |
|
(c)
Other current liabilities |
6.629 |
6.642 |
6.194 |
|
(d) Short-term
provisions |
7.702 |
9.503 |
5.219 |
|
Total Current
Liabilities (4) |
33.530 |
40.337 |
29.295 |
|
|
|
|
|
|
TOTAL |
69.878 |
69.677 |
49.777 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.661 |
0.640 |
0.687 |
|
(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 |
7.986 |
6.970 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
8.647 |
7.610 |
0.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
12.242 |
10.271 |
9.865 |
|
(c)
Trade receivables |
26.823 |
35.057 |
24.698 |
|
(d) Cash
and cash equivalents |
12.221 |
5.839 |
8.113 |
|
(e)
Short-term loans and advances |
9.945 |
10.900 |
6.414 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
61.231 |
62.067 |
49.090 |
|
|
|
|
|
|
TOTAL |
69.878 |
69.677 |
49.777 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
149.374 |
111.357 |
116.980 |
|
|
|
Other Income |
10.712 |
24.278 |
12.115 |
|
|
|
TOTAL (A) |
160.086 |
135.635 |
129.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
116.075 |
90.231 |
99.163 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(1.971) |
(0.405) |
(3.540) |
|
|
|
Employee benefits expenses |
14.291 |
11.539 |
6.391 |
|
|
|
Other Expenses |
20.784 |
20.836 |
17.020 |
|
|
|
TOTAL (B) |
149.179 |
122.201 |
119.034 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.907 |
13.434 |
10.061 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.236 |
0.068 |
0.209 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.671 |
13.366 |
9.852 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.191 |
0.224 |
0.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
10.480 |
13.142 |
9.680 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.463 |
4.276 |
2.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
7.017 |
8.866 |
6.688 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
7017.00 |
8866.00 |
6688.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.38 |
6.54
|
5.18
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.06 |
11.80
|
8.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.93 |
20.96
|
19.45
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.45
|
0.47
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
1.54
|
1.68
|
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
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 |
10261335 |
18/12/2010 |
7,000,000.00 |
INDUSIND BANK
LIMITED |
INDUSIND HOUSE,
425, DADASAHEB BHADKAMKAR MARG, MUMBAI, MAHARASHTRA - 400004, INDIA |
B03442910 |
|
2 |
10025688 |
18/10/2006 |
3,500,000.00 |
INDUSIND BANK
LIMITED |
OPERA HOUSE
BRANCH, MUMBAI, MAHARASHTRA - 400001, INDIA |
A06532162 |
Note:
The registered office of the company has been shifted from Gala No.127 and
128, Jaywant Industrial Estate, Tardeo Road, Mumbai – 400 034, Maharashtra,
India to the present address w.e.f. 15.04.2009.
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Refrigerators
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.62.24 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.