MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHOGINI TECHNOARTS PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
Gat No. 788, Khed Shivapur, Taluka Haveli, District Pune – 412205, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
23.08.1982 |
|
|
|
|
Com. Reg. No.: |
25-028059 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 99.020 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32104PN1982PTC028059 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNES00080D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS9247E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Printed Circuit Boards. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 740000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having moderate track record. The company possesses a moderate financial profile marked by
acceptable networth base and working capital
intensive operations which may act as a threat to the liquidity position. Management has reported an increase in its sales volume as well as net
profitability during FY13. Trade relations seems to be fair. Business is active. Payment terms
are reported as slow but correct. In view of long standing presence, the subject can be considered for
business dealings with some caution.
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of 4.9
%, Fitch Rating said. The global rating agency expects the economy to pick up
in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL SME |
|
Rating |
“SME4” |
|
Rating Explanation |
Average creditworthiness. |
|
Date |
July 25, 2012 |
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-COOPERATIVE
(CONTACT NO.: 91-20-66471700)
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 788, Khed Shivapur, Taluka Haveli, District Pune – 412205, Maharashtra, India |
|
Tel. No.: |
91-20-66471800 |
|
Fax No.: |
91-20-66471820/ 24384536 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
"Shogini" S. No. 5, Katraj - Sinhagad Road By Pass, Near Sinhagad Road, Fly Over, Ambegaon Budruk, Pune – 411046, Maharashtra, India |
|
Tel. No.: |
91-20-66471700 |
|
Fax No.: |
91-20-66471714 |
|
E-Mail : |
|
|
|
|
|
Sales Offices : |
Located at: v Mumbai v Bangalore v New Delhi v Hyderabad v Gujarat v Kolkata |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Vinayak Vishnu Athavale
|
|
Designation : |
Managing Director |
|
Address : |
5B, S.R. No. 9,Vedant Nagari, Karve Nagar, Pune - 411052, Maharashtra,
India |
|
Date of Birth/Age : |
21.08.1951 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AANPA3587F |
|
DIN No.: |
00388842 |
|
|
|
|
Name : |
Mr. Vijay Mukund Athavale |
|
Designation : |
Whole-time director |
|
Address : |
Gate No. 788, Khed Shivapur,
Taluka Haveli, District Pune, |
|
Date of Birth/Age : |
01.01.1946 |
|
Qualification : |
Master In Computer |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABIPA3664K |
|
DIN No.: |
00388657 |
|
|
|
|
Name : |
Mrs. Geeta Abhijit
Tamhankar |
|
Designation : |
Whole-time director |
|
Address : |
999-B, Mayuresh Society, Phathak
Baug, Rajendra Nagar, Pune – 411030, Maharashtra, India |
|
Date of Birth/Age : |
22.01.1972 |
|
Qualification : |
BE in Electronics |
|
Date of Appointment : |
01.07.1998 |
|
PAN No.: |
AAHPT6104H |
|
DIN No.: |
00389092 |
|
|
|
|
Name : |
Mr. Rhushikesh
Ravikiran Modak |
|
Designation : |
Whole-time director |
|
Address : |
19, Vivek Society, Padmavati,
Pune – 411009, Maharashtra,
India |
|
Date of Birth/Age : |
12.05.1974 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
28.03.2001 |
|
PAN No.: |
AFNPM5262L |
|
DIN No.: |
00389147 |
|
|
|
|
Name : |
Mrs. Seema Rhushikesh
Modak |
|
Designation : |
Whole-time director |
|
Address : |
19, Vivek Society, Padmavati,
Pune – 411009, |
|
Date of Birth/Age : |
21.08.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.01.2002 |
|
PAN No.: |
AFNPM5261K |
|
DIN No.: |
00389187 |
|
|
|
|
Name : |
Mr. Abhijit Sriniwas
Tamhankar |
|
Designation : |
Whole-time director |
|
Address : |
999-B, Mayuresh Society, Phatak Baug, Rajendra Nagar, Pune – 411030, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1969 |
|
Date of Appointment : |
01.09.1996 |
|
PAN No.: |
ABEPT3198D |
|
DIN No.: |
01515483 |
|
|
|
|
Name : |
Mr. Sachin Vinayak
Athavle |
|
Designation : |
Additional director |
|
Address : |
Plot 5B, S. No. 9, Ashirwad, Vedant Nagari, Karve Nagar, Pune – 411052, Maharashtra,
India |
|
Date of Birth/Age : |
25.05.1982 |
|
Date of Appointment : |
01.08.2013 |
|
PAN No.: |
AHSTA0643C |
|
DIN No.: |
06656590 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Manohar Godbole |
|
Designation : |
Secretary |
|
Address : |
25, Dattaguru Apartments, 3rd Floor, Dhankwadi, Pune – 411043, Maharashtra, India |
|
Date of Appointment : |
01.08.2004 |
|
PAN No.: |
ABBPG9181E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 25.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.66 |
|
Others |
0.34 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Printed Circuit Boards. |
||||
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|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
v The Saraswat Co-Operative Bank Limited SME Branch, C-2 Kohinoor Estate Co-Operative Housing, Plot No. 12, Mula Road, Pune - 411003, Maharashtra, India v The Saraswat Co-Operative Bank Limited Karve Road Branch, Pune - 411004, Maharashtra, India v Shree Sharada Sahakari Bank Limited Sadashiv Peth Branch, 1209 Sadashiv Peth, Tilak Wadi, Pune - 411030, Maharashtra, India v Shree Sharada Sahakari Bank Limited 62/4A, Madhuri Milind Complex, Opposite Hotel Abhiruchi, Sinhagad Road Vadgaoan BK, Pune - 411041, Maharashtra , India v Janata Sahakari Bank Limited 1444 Shukrawar Peth, Bajirao Road, Pune - 411002, Maharashtra, India v Vilya Sahakari Bank Limited Laxmi Road, Pune
- 411030, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H M A and Associates Chartered Accountants |
|
Address : |
202, Gulmohar Apartments,
773/7A, Shivaji Nagar, Prabhat Road, Lane No. 10, Pune
– 411004, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFG3833H |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,195,000 |
Equity Shares |
Rs. 100/- each |
Rs. 119.500 Millions |
|
5,000 |
Preference Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990,000 |
Equity Shares |
Rs. 100/- each |
Rs. 99.000
Millions |
|
200 |
Preference Shares |
Rs. 100/- each |
Rs. 0.020
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 99.020 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 |
99.020 |
99.020 |
99.020 |
|
(b) Reserves & Surplus |
86.327 |
77.604 |
71.598 |
|
(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) |
185.347 |
176.624 |
170.618 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.232 |
13.618 |
43.610 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
1.394 |
1.519 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
19.626 |
15.137 |
43.610 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
466.965 |
587.937 |
452.195 |
|
(b)
Trade payables |
218.800 |
130.719 |
123.750 |
|
(c)
Other current liabilities |
26.326 |
54.241 |
47.984 |
|
(d) Short-term
provisions |
28.138 |
16.667 |
55.599 |
|
Total Current
Liabilities (4) |
740.229 |
789.564 |
679.528 |
|
|
|
|
|
|
TOTAL |
945.202 |
981.325 |
893.756 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
214.482 |
209.774 |
218.891 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.941 |
0.307 |
4.189 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.525 |
1.351 |
1.081 |
|
(c) Deferred tax assets (net) |
12.933 |
10.127 |
8.176 |
|
(d) Long-term Loan and Advances |
13.376 |
14.517 |
11.571 |
|
(e) Other
Non-current assets |
3.824 |
4.754 |
6.361 |
|
Total Non-Current
Assets |
247.081 |
240.830 |
250.269 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.108 |
0.131 |
|
(b)
Inventories |
225.411 |
201.836 |
183.591 |
|
(c)
Trade receivables |
302.266 |
255.230 |
226.540 |
|
(d) Cash
and cash equivalents |
158.004 |
273.478 |
207.240 |
|
(e)
Short-term loans and advances |
0.010 |
0.133 |
0.045 |
|
(f)
Other current assets |
12.430 |
9.710 |
25.940 |
|
Total
Current Assets |
698.121 |
740.495 |
643.487 |
|
|
|
|
|
|
TOTAL |
945.202 |
981.325 |
893.756 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1127.253 |
962.135 |
884.870 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1000.895 |
832.712 |
753.566 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
126.358 |
129.423 |
131.304 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
71.608 |
83.666 |
47.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
54.750 |
45.757 |
83.333 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
41.822 |
43.347 |
41.569 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
0.013 |
4.261 |
-- |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.941 |
6.671 |
41.764 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.214 |
0.662 |
13.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.727 |
6.009 |
28.451 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
50.571 |
44.867 |
84.378 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Bonus issue of Shares |
0.000 |
0.000 |
49.500 |
|
|
|
Transfer to General Reserve |
0.436 |
0.301 |
1.422 |
|
|
|
Dividend on Equity Shares |
0.000 |
0.000 |
14.610 |
|
|
|
Dividend on Preference Shares |
0.003 |
0.003 |
0.003 |
|
|
|
Dividend tax |
0.001 |
0.001 |
2.427 |
|
|
BALANCE CARRIED
TO THE B/S |
58.858 |
50.571 |
44.867 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.81 |
6.07 |
28.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.77 |
0.62 |
3.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.39 |
0.69 |
4.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.04 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.62 |
3.41 |
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.94 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
99.020 |
99.020 |
99.020 |
|
Reserves & Surplus |
71.598 |
77.604 |
86.327 |
|
Net
worth |
170.618 |
176.624 |
185.347 |
|
|
|
|
|
|
long-term borrowings |
43.610 |
13.618 |
18.232 |
|
Short term borrowings |
452.195 |
587.937 |
466.965 |
|
Total
borrowings |
495.805 |
601.555 |
485.197 |
|
Debt/Equity
ratio |
2.906 |
3.406 |
2.618 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
884.870 |
962.135 |
1127.253 |
|
|
|
8.732 |
17.162 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
884.870 |
962.135 |
1127.253 |
|
Profit |
28.451 |
6.009 |
8.727 |
|
|
3.22% |
0.62% |
0.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
19.315 |
47.191 |
38.548 |
|
|
|
|
|
|
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 |
No |
|
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] |
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 |
10457415 |
03/10/2013 |
20,000,000.00 |
SHREE SHARADA SAHAKARI BANK LIMITED |
62/4A ,MADHURI MILIND
COMPLEX, OPP.HOTEL ABHIRUCHI, SINHAGAD ROAD VADGAOAN BK, PUNE,
MAHARASHTRA |
B88435052 |
|
2 |
10396963 |
26/12/2012 |
25,000,000.00 |
SHREE SHARADA SAHAKARI BANK LIMITED |
62/4A,MADHURI
MILIND COMPLEX,, OPP.HOTEL ABHIRUCHI, SINHAGAD ROAD VADGAOAN BK, PUNE,
MAHARASHTRA - |
B65881146 |
|
3 |
90082793 |
10/01/2013 * |
520,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, C-2
KOHINOOR ESTATE CO-OPERATIVE HSG, |
B66472671 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax loan |
0.627 |
1.978 |
|
Deposits from directors |
12.500 |
11.400 |
|
Deposits from others |
0.360 |
0.240 |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from directors |
186.715 |
170.415 |
|
Intercorporate deposits |
11.200 |
11.200 |
|
|
|
|
|
Total |
211.402 |
195.233 |
CORPORATE
INFORMATION
Subject is a private limited company domiciled in India and incorporated
under the provisions of Companies Act, 1956. The company is in the manufacturing
and selling of Printed Circuit Boards with factory at Khed-Shivapur,
District- Pune and office at Ambegaon,
District - Pune.
REVIEW OF OPERATIONS
During the year, the Total Revenue from Operations of the
Company was reported at Rs. 1116.133 Millions as
against to Rs. 942.750 Millions of the Previous Year,
registering a growth of about 18.39%. The Company has earned a Profit after tax
of Rs. 8.727 Millions as compared to Profit after tax
of Rs. 6.009 Millions of the previous year. Considering
the slowdown in the market, the performance achieved by the Company is
satisfactory.
FIXED ASSETS:
v Land
v Buildings
v Office
building
v Factory
building
v Plant
and equipment
v Factory
equipments
v Emission
reduction equipment
v Furniture
and fixtures
v Vehicles
v Motor
vehicles
v Office
equipment
v Computer
equipments
v Other
equipments
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. 58.57 |
|
|
1 |
Rs. 98.88 |
|
Euro |
1 |
Rs. 80.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.