MIRA
INFORM REPORT
|
Report Date : |
08.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
D'GIPRO DESIGN AUTOMATION AND MARKETING PRIVATE LIMITED |
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Registered
Office : |
84, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.06.1993 |
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Com. Reg. No.: |
08-014406 |
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Capital
Investment / Paid-up Capital : |
Rs.4.376 Millions |
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CIN No.: [Company Identification
No.] |
U72900KA1993PTC014406 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing very large scale integration (VLSI) solution
which involve trading in electronic design automation tools (EDA tools) and
printed circuit boards and providing related consultancy services. |
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|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Closed Down |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
As confirmed by Mr. Ankur Rustogi, Senior Accounts Manager the subject company
“D’GIPRO DESIGN AUTOMATION AND MARKETING PRIVATE LIMITED” has closed down its
business activities from last 3 year. The subject cannot be considered for business dealing. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding India arm of the global e-commerce giant
Amazon. The company raised $ 210 million from Russian Investment firm DST
Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two.While
Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore
– in the three months ended March 31, mainly because it has been offering
discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
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. Ankur Rustogi |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-9899787477/8285317588 |
|
Date : |
04.07.2014 |
LOCATIONS
|
Registered Office : |
84, Deep Towers, EPIP Whitefield, Bangalore – 560066, Karnataka, India
|
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9899787477 /8285317588 (Ankur Rustogi) |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Suresh Kumar K |
|
Designation : |
Whole-time director |
|
Address : |
3491/A Vasuprada, 14th Main, Hal
2nd Stage, Bangalore – 560008, Karnataka, India |
|
Date of Birth/Age : |
01.06.1966 |
|
Date of Appointment : |
08.06.1993 |
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DIN No.: |
00405867 |
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Name : |
Swamynathanmudaliar Ramachandra |
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Designation : |
Director |
|
Address : |
No. 3014, 12th B Main, 5th Cross, Hal 2nd
Stage, Bangalore – 560008, Karnataka, India |
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Date of Birth/Age : |
13.09.1956 |
|
Date of Appointment : |
07.06.1993 |
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DIN No.: |
02146191 |
KEY EXECUTIVES
|
Name : |
Mr. Ankur Rustogi |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Si2 Microsystems Limited, India |
|
2437625 |
|
Si2 Microsystems Limited Jointly With Sanjay Soni
|
|
10 |
|
Total |
|
2437635 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing very large scale integration (VLSI)
solution which involve trading in electronic design automation tools (EDA tools)
and printed circuit boards and providing related consultancy services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of Mysore, Bangalore
Main Branch, C and I Division, Avenue Road, Bangalore - 560009, Karnataka,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker Chandiok and Company Chartered Accountants |
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Address : |
Wings, 1st Floor, 16/1, Cambridge Road, Halasuru,
Bangalore – 560008, Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
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Holding Company : |
Si2 Microsystems Private Limited, India [U85110KA1993PTC015018] |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2437635 |
Equity Shares |
Rs.10/- each |
Rs. 24.376
Millions |
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|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
437635 |
Equity Shares |
Rs.10/- each |
Rs. 4.376
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.376 |
4.376 |
4.376 |
|
|
2] Share Application Money |
20.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.725 |
1.725 |
6.877 |
|
|
4] (Accumulated Losses) |
(22.046) |
(5.564) |
(0.007) |
|
|
NETWORTH |
4.055 |
0.537 |
11.246 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.286 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
20.922 |
21.529 |
2.295 |
|
|
TOTAL BORROWING |
21.208 |
21.529 |
2.295 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.630 |
|
|
|
|
|
|
|
|
TOTAL |
25.263 |
22.066 |
14.171 |
|
|
|
|
|
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|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
1.701 |
4.842 |
6.010 |
|
|
Capital work-in-progress |
0.000 |
2.807 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
9.712 |
0.054 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
34.165
|
19.850
|
9.195
|
|
|
Cash & Bank Balances |
10.916
|
5.185
|
1.913
|
|
|
Other Current Assets |
0.309
|
0.000
|
0.000
|
|
|
Loans & Advances |
9.143
|
9.559
|
4.440
|
|
Total
Current Assets |
54.533
|
34.594
|
15.548
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.881
|
12.003
|
0.771
|
|
|
Other Current Liabilities |
27.477
|
5.816
|
4.069
|
|
|
Provisions |
4.325
|
2.412
|
2.547
|
|
Total
Current Liabilities |
40.683
|
20.231
|
7.387
|
|
|
Net Current Assets |
13.850
|
14.363
|
8.161
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.263 |
22.066 |
14.171 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
TOTAL INCOME |
86.375 |
68.285 |
44.462 |
|
|
|
|
|
|
|
|
TOTAL EXPENDITURE |
102.515 |
77.880 |
39.595 |
|
|
|
|
|
|
|
|
LOSS BEFORE DEPRECIATION FOR THE YEAR |
(10.957) |
(8.427) |
4.867 |
|
|
|
|
|
|
|
|
LOSS AFTER DEPRECIATION AND OTHER MISCELLANEOUS CHARGES |
(16.482) |
(10.716) |
3.706 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.23
|
40.09 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.71 |
2.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
4.376 |
4.376 |
4.376 |
|
|
0.000 |
0.000 |
20.000 |
|
Reserves & Surplus |
6.877 |
1.725 |
1.725 |
|
Net
worth |
11.253 |
6.101 |
6.101 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.286 |
|
Unsecured Loans |
2.295 |
21.529 |
20.922 |
|
Total
borrowings |
2.295 |
21.529 |
21.208 |
|
Debt/Equity
ratio |
0.204 |
3.529 |
3.476 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BACKGROUND
Subject was incorporated in Bangalore, India on 7th June 1993
and is registered under the Software Technology Parks of India (STPI) Scheme of
the Government of India with effect from 23 March 2000. FFAMPL is engaged in
providing very large scale integration (VLSI) solution which involve trading in
electronic design automation tools (EDA tools) and printed circuit boards and
providing related consultancy services.
UNSECURED LOAN
|
PARTICULARS |
31.03.2010 (Rs. in Millions) |
31.03.2009 (Rs. in Millions) |
|
From banks |
0.000 |
1.565 |
|
From others |
20.922 |
19.964 |
|
Total |
20.922 |
21.529 |
|
NOTE: The other loans represent the interest free unsecured loans form Si2
Microsystems Private Limited, holding company amounting to Rs. 20.922 Millions (31st March 2009 Rs. 19.964 Millions) Repayable on demand. |
||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10147138 |
23/03/2011 * |
65,000,000.00 |
STATE BANK OF MYSORE |
BANGALORE MAIN
BRANCH, C AND I DIVISION, AVENUE ROA |
B09786450 |
|
2 |
90198572 |
18/03/2005 |
1,000,000.00 |
BANK OF INDIA |
JEEVAN BEEMA NAGAR BRANCH, 1301; JEEVAN BEEM NAGAR MAIN ROAD; HAL 2ND STAGE, BANGALORE, KARNATAKA - 560008, INDIA |
- |
|
3 |
90201008 |
18/03/2005 |
1,000,000.00 |
BANK OF INDIA |
JEEVAN BEEMA NAGAR BRANCH; 1301, JEEVAN BEEMA NAGAR MAIN ROAD; HAL 2ND STAGE, BANGALORE, KARNATAKA - 560008, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Computer Systems
·
Electrical Installations
·
Office Equipment’s
·
Furniture and Fixtures
·
Motor Vehicles
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.59.95 |
|
|
1 |
Rs.102.78 |
|
Euro |
1 |
Rs.81.39 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.