MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEVHARSH INFOTECH PRIVATE LIMITED (w.e.f.30.11.2004) |
|
|
|
|
Formerly Known
As : |
HARMONY INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bhumi Industrial Park, Gala No. 22, Building No. D-5, Nashik Bypass
Road, Pimplas Village, Bhiwandi, Thane – 421311, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
16.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-146993 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.130
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH2004PTC146993 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Computer Stationery and Cheques, Tickets
and all types of Rolls and Other Paper Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 131000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered 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
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 |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
|
Date |
13.09.2013 |
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 : |
Ms. Vineeta |
|
Designation : |
Export Assistant |
|
Contact No.: |
91-22-25774911 |
|
Date : |
23.05.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Bhumi Industrial Park, Gala No. 22, Building No. D-5, Nashik Bypass
Road, Pimplas Village, Bhiwandi, Thane – 421311, Maharashtra, India |
|
Tel. No.: |
91-22-67974911 |
|
Fax No.: |
91-22-25772712 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Gala No. 16, Samrat Mill Compound, L.B.S. Marg, Vikroli
(West), Mumbai - 400079, Maharashtra, India |
|
Tel. No.: |
91-22-25774911 |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mr. Dilip Mansukhlal Shah |
|
Designation : |
Director |
|
Address : |
1103, Adinath Tower Sudha Park, Opposite Shanti Park, Garodia Nagar,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1963 |
|
Date of Appointment : |
16.06.2004 |
|
DIN No.: |
01263227 |
|
|
|
|
Name : |
Mr. Rakesh Shah |
|
Designation : |
Director |
|
Address : |
Flat No.601, 6th Floor, Parhwanath, Sudha Park, Garodia,
Nagar, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1969 |
|
Date of Appointment : |
16.06.2004 |
|
DIN No.: |
01627360 |
KEY EXECUTIVES
|
Name : |
Ms. Vineeta |
|
Designation : |
Export Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dilip Mansukhlal Shah |
|
612 |
|
Rakesh M Shah |
|
613 |
|
Dhiruvi R Shah |
|
24 |
|
Mansukhlal D. Shah (HUF) |
|
16 |
|
Manisha Shah |
|
14 |
|
Bhartiben Shah |
|
6 |
|
Ayushi Shah |
|
1 |
|
Devanshu Shah |
|
1 |
|
Maitry Shah |
|
1 |
|
Hrishi Shah |
|
1 |
|
Dilip M. Shah (HUF) |
|
1 |
|
Rakesh M. Shah (HUF) |
|
1 |
|
Dilip M. Shah and Rakesh M. Shah |
|
1 |
|
|
|
|
|
Total |
|
1292 |
AS ON 26.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
98.61 |
|
Other
top fifty shareholders |
1.39 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Computer Stationery and Cheques, Tickets and
all types of Rolls and Other Paper Products. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
v Sri Lanka v Africa v Gulf Countries v Dubai |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
v Germany v Japan v China |
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|
|
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Terms : |
|
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Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
v The Saraswat Cooperative Bank Limited SME Branch, Prabhat Bhavan, Block B, 1st Floor, 96, L. B.
S. Marg, Opposite Cipla, Vikhroli (West), Mumbai - 400083, Maharashtra, India |
|||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M.H. Jain and Company Chartered Accountants |
|
Address : |
D-313, Neelkanth Business Park, Near Vidyavihar Bus Depot, Vidyavihar
[West], Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25125416/ 23449097 |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFM0559R |
|
|
|
|
Company in which KMP/Relatives of KMP can exercise significant
influence : |
v
Lucky Forms Private Limited v
Pioneer International v
Maitry Data Teach v
Accurate Graphics Private Limited v
Manisha Traders |
CAPITAL STRUCTURE
AS ON 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,292 |
Equity Shares |
Rs. 100/- each |
Rs. 0.129
Million |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,302 |
Equity Shares |
Rs. 100/- each |
Rs. 0.130
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 |
0.130 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
32.622 |
15.754 |
14.375 |
|
(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) |
32.752 |
15.854 |
14.475 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
94.656 |
27.009 |
8.005 |
|
(b) Deferred tax liabilities (Net) |
0.388 |
0.000 |
0.000 |
|
(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) |
95.044 |
27.009 |
8.005 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
38.593 |
81.625 |
12.537 |
|
(c) Other
current liabilities |
84.897 |
36.163 |
44.402 |
|
(d) Short-term
provisions |
0.548 |
0.127 |
0.236 |
|
Total Current
Liabilities (4) |
124.038 |
117.915 |
57.175 |
|
|
|
|
|
|
TOTAL |
251.834 |
160.778 |
79.655 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
47.982 |
24.799 |
17.777 |
|
(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 |
0.082 |
0.026 |
0.026 |
|
(c) Deferred tax assets (net) |
0.000 |
0.174 |
0.163 |
|
(d) Long-term Loan and Advances |
25.316 |
5.150 |
8.404 |
|
(e) Other
Non-current assets |
0.027 |
0.013 |
0.020 |
|
Total Non-Current
Assets |
73.407 |
30.162 |
26.390 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
55.857 |
51.971 |
5.868 |
|
(c)
Trade receivables |
101.148 |
68.464 |
15.432 |
|
(d) Cash
and cash equivalents |
10.127 |
5.855 |
20.127 |
|
(e)
Short-term loans and advances |
9.926 |
4.319 |
0.059 |
|
(f)
Other current assets |
1.369 |
0.007 |
11.779 |
|
Total
Current Assets |
178.427 |
130.616 |
53.265 |
|
|
|
|
|
|
TOTAL |
251.834 |
160.778 |
79.655 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
237.446 |
133.912 |
155.330 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.188 |
8.833 |
8.745 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.504 |
4.455 |
5.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.684 |
4.378 |
3.729 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.089 |
2.052 |
2.173 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.595 |
2.326 |
1.556 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.506 |
0.947 |
0.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.089 |
1.379 |
1.284 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
15.754 |
14.375 |
13.091 |
|
|
|
|
|
|
|
|
|
Add |
RESERVES CREATED
ON ACCOUNT OF AMALGAMATION |
13.779 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
32.622 |
15.754 |
14.375 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
16.118 |
2.871 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
56.713 |
2.247 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2372.27 |
1379.24 |
1284.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.36 |
1.74 |
1.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.22 |
1.45 |
1.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.15 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.89 |
1.70 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.11 |
0.93 |
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 |
0.100 |
0.100 |
0.130 |
|
Reserves & Surplus |
14.375 |
15.754 |
32.622 |
|
Net
worth |
14.475 |
15.854 |
32.752 |
|
|
|
|
|
|
long-term borrowings |
8.005 |
27.009 |
94.656 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
8.005 |
27.009 |
94.656 |
|
Debt/Equity
ratio |
0.553 |
1.704 |
2.890 |
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) |
|
Sales |
155.330 |
133.912 |
237.446 |
|
|
|
(13.789) |
77.315 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
155.330 |
133.912 |
237.446 |
|
Profit |
1.284 |
1.379 |
3.089 |
|
|
0.83% |
1.03% |
1.30% |
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 |
|
|
|
|
Term Loan Account (6918) |
0.275 |
0.276 |
0.000 |
|
Term Loan Account (3043) |
0.050 |
0.233 |
0.218 |
|
Term Loan Account (44) |
1.600 |
1.586 |
1.411 |
|
Term Loan Account (2715) |
0.000 |
0.000 |
0.522 |
|
Term Loan Account (8133) |
0.000 |
0.000 |
14.545 |
|
Term Loan Account (6544) |
0.020 |
0.262 |
0.296 |
|
Term Loan Account (6545) |
0.020 |
0.266 |
0.292 |
|
Term Loan Account (32) |
0.720 |
0.000 |
0.000 |
|
|
|
|
|
|
Total |
2.685 |
2.623 |
17.284 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
10444155 |
23/07/2013 |
2,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, PRABHAT
BHAVAN, BLOCK B, 1ST FLOOR,, |
B82631102 |
|
2 |
10340610 |
10/02/2012 |
924,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BRANCH, ISHAN ARCADE,3RD FLOOR, OPP. GAONDEVI TEMPLE, NAUPADA, THANE, MAHARASHTRA - 400602, INDIA |
B34336792 |
|
3 |
10240017 |
02/09/2010 |
710,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BRANCH, ISHAN ARCADE,3RD FLOOR, OPP. GAONDEVI TEMPLE, NAUPADA, THANE, MAHARASHTRA - 400602, INDIA |
A94779923 |
|
4 |
10240018 |
02/09/2010 |
710,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BRANCH, ISHAN ARCADE,3RD FLOOR, OPP. GAONDEVI TEMPLE, NAUPADA, THANE, MAHARASHTRA - 400602, INDIA |
A94780319 |
|
5 |
10212622 |
06/04/2010 |
2,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, PRABHAT
BHAVAN, BLOCK B, 1ST FLOOR, |
A83346908 |
|
6 |
10187663 |
23/11/2009 |
977,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME, VIKHROLI BRANCH, MUMBAI, MAHARASHTRA - 400086, INDIA |
A74092602 |
|
7 |
10187662 |
23/11/2009 |
6,817,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME, VIKHROLI BRANCH, MUMBAI, MAHARASHTRA - 400086, INDIA |
A74091323 |
|
8 |
10124682 |
25/09/2008 |
995,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
THANE NAGAR VACHNALAY MANDIR BUILDING, TEMBHI NAKA, THANE, MAHARASHTRA - 400602, INDIA |
A47676358 |
|
9 |
10022693 |
22/03/2010 * |
18,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, PRABHAT
BHAVAN, BLOCK B, 1ST FLOOR,, |
A83347864 |
|
10 |
10022402 |
12/09/2006 |
6,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
VIKHROLI (WEST) BRANCH, MUMBAI, MAHARASHTRA - 400083, INDIA |
A05674130 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits Rabita Internationals |
0.950 |
0.000 |
|
From Directors Dilip M. Shah |
37.366 |
6.697 |
|
Rakesh M. Shah |
43.249 |
15.247 |
|
From Shareholders |
11.269 |
1.889 |
|
From Relatives |
0.330 |
0.000 |
|
From Others |
0.067 |
0.000 |
|
|
|
|
|
Total |
93.231 |
23.833 |
AMALGAMATION
Lucky Forms Private Limited is the amalgamating company amalgamated with
Devharsh Infotech Private Limited as merger and accordingly the accounting is
made on the basis of following the Pooling of Interests Method as per AS 14.
As per the Scheme of amalgamation, the amalgamation is approved
effective from 08.03.2013, whereas the accounting for merger is made as of
yearend and consequently profit of the amalgamating company pertaining to the
amalgamated period amounting to Rs. 0.489 Million is determined on pro-rata
basis and accounted as income of the company as exceptional item.
FIXED ASSETS:
v Computers
v Land and Building
v Plant and
Machinery
v Vehicles
v Office Equipment
v Furniture and
Fixture
v Laboratory
Equipments
v Software and
Technology
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. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.