MIRA INFORM REPORT
|
Report Date : |
27.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
PS IT INFRASTRUCTURE AND SERVICES LIMITED |
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Formerly Known
As : |
PARAG SHILPA INVESTMENT LIMITED |
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Registered
Office : |
Flat No 2, Ground Floor, Land Mark, CHS, Dawood, Baug Cross Lane No –
1, Off J.P. Road, Andheri (West), Mumbai – 400058, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.05.1982 |
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Com. Reg. No.: |
11-027146 |
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Capital
Investment / Paid-up Capital : |
Rs. 537.600 Millions |
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CIN No.: [Company Identification
No.] |
L72900MH1982PLC027146 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Trader of Computer Hardware and IT Software Developer. |
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No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 moderate track record. Profitability and Reserves of the company seems to be low. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nitin |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-26791790 |
|
Date : |
22.11.2014 |
LOCATIONS
|
Registered Office : |
Flat No 2, Ground Floor, Land Mark, CHS, Dawood, Baug Cross Lane No –
1, Off J.P. Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Tel. No.: |
91-22-26791790 |
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Mobile No.: |
Not Available |
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Fax No.: |
91-22-26791790 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As On 31.03.2014
|
Name : |
Mr. Sajjan Kedia |
|
Designation : |
Chairman and Executive Director |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
B. Com |
|
Nature of Exepertise : |
Business Development |
|
Experience : |
35 Years |
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|
|
|
Name : |
Mr. Johar Pal Singh |
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Designation : |
Independent Director |
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Date of Birth/Age : |
67 Years |
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Qualification : |
LLB |
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Nature of Expertise : |
Legal |
|
Experience : |
40 Years |
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|
|
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|
Name : |
Mr. Kashi Prasad Bajaj |
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Designation : |
Director |
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Date of Birth/Age : |
60 Years |
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Qualification : |
B. Com |
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Nature of Expertise : |
Finance |
|
Experience : |
37 Years |
|
|
|
|
Name : |
Mr. Pradeepkumar Pushkarmal Gupta |
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Designation : |
Independent Director |
|
Address : |
45 years |
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Qualification : |
Chartered Accountant |
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Nature of Expertise : |
Accounts and Finance |
|
Experience : |
18 Years |
KEY EXECUTIVES
|
Name : |
Mr. Nitin |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
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|
|
|
|
|
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|
10452250 |
1.94 |
|
|
10452250 |
1.94 |
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|
Total
shareholding of Promoter and Promoter Group (A) |
10452250 |
1.94 |
|
(B) Public
Shareholding |
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|
(1) Institutions |
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|
|
(2) Non-Institutions |
|
|
|
|
137324167 |
25.54 |
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|
|
|
|
|
40429413 |
7.52 |
|
|
348449330 |
64.82 |
|
|
944840 |
0.18 |
|
|
944740 |
0.18 |
|
|
100 |
0.00 |
|
|
527147750 |
98.06 |
|
Total Public
shareholding (B) |
527147750 |
98.06 |
|
Total (A)+(B) |
537600000 |
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) |
537600000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Hardware and IT Software Developer. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cheque and Credit |
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Purchasing : |
L/C, Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Auditors : |
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Name : |
Ranjeet Gothi and Associates Chartered Accontants |
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Address : |
7-B, Meghrath – 6, Opposite Park Hospital, Bhatar Road, Surat – 395
001, Gujarat, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As On 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,55,20,000 |
Equity Shares |
Rs. 10/- each |
Rs. 555.200 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,37,60,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 537.600
Millions |
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|
|
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Terms and Rights attached to Shares
Equity Shares
The company has one class of equity shares having
a par value of Rs.10 each. Each shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend.
In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the Company after
distribution of all preferential amounts, in proportion to their shareholding.
Reconciliation of shares outstanding at the beginning and at the end of
the reporting period:
|
Equity Shares |
As at 31 March 2014 |
|
|
Number of Shares |
Rs. in Millions |
|
|
At the commencement of the period |
11240000 |
112.400 |
|
Shares issued on exercise of employee stock options |
0 |
0.000 |
|
Shares issued during the year by way of Preferential Allotment |
0 |
0.000 |
|
Shares issued to the Shareholders of Swift IT Infrastructure and Services Limited and Crescent Digital Technologies Limited pursuant to Scheme of Amalgamation |
42520000 |
425.200 |
|
At the end of the period |
53760000 |
537.600 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
537.600 |
112.400 |
2.400 |
|
(b) Reserves & Surplus |
10.701 |
3.445 |
0.800 |
|
(c) Equity Share Suspense |
0.000 |
425.200 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
548.301 |
541.045 |
3.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred Tax Liabilities (Net) |
0.000 |
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) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
388.129 |
32.305 |
1.267 |
|
(b) Trade
Payables |
807.557 |
1134.130 |
0.000 |
|
(c) Other
Current Liabilities |
75.593 |
0.357 |
0.165 |
|
(d) Short-term
Provisions |
3.674 |
0.646 |
0.311 |
|
Total Current
Liabilities (4) |
1274.953 |
1167.438 |
1.743 |
|
|
|
|
|
|
TOTAL |
1823.254 |
1708.483 |
4.943 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
0.015 |
0.029 |
0.000 |
|
(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 |
1208.037 |
942.545 |
0.000 |
|
(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
54.847 |
701.567 |
0.000 |
|
(e) Other
Non-current Assets |
3.195 |
3.993 |
0.000 |
|
Total Non-Current
Assets |
1266.094 |
1648.134 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
43.953 |
43.175 |
0.000 |
|
(c) Trade
Receivables |
284.890 |
14.523 |
0.000 |
|
(d) Cash
and Cash Equivalents |
2.256 |
1.952 |
0.015 |
|
(e)
Short-term Loans and Advances |
0.190 |
0.100 |
0.000 |
|
(f) Other
Current Assets |
225.871 |
0.599 |
4.928 |
|
Total
Current Assets |
557.160 |
060.349 |
4.943 |
|
|
|
|
|
|
TOTAL |
1823.254 |
1708.483 |
4.943 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1036.231 |
1429.815 |
0.000 |
|
|
|
Other Income |
10.877 |
1.845 |
0.000 |
|
|
|
TOTAL |
1047.108 |
1431.660 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1034.297 |
1348.694 |
0.000 |
|
|
|
Change in inventories |
(0.779) |
79.522 |
0.000 |
|
|
|
Employees benefits expense |
0.385 |
0.695 |
0.000 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
0.794 |
|
|
|
Other expenses |
2.689 |
2.198 |
0.237 |
|
|
|
TOTAL |
1036.592 |
1431.109 |
1.031 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.516 |
0.551 |
(1.031) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.015 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
10.501 |
0.548 |
(1.031) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.245 |
0.133 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7.256 |
0.415 |
(1.031) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.13 |
0.01 |
(4.30) |
|
Expected Sales (2014-15): Rs. 1030.000 Millions
The above information has been parted by Mr. Nitin (Account Executive).
QUARTERLY RESULTS
|
Particulars |
30th Sep 2014 Unaudited (Rs. In Millions) |
|
Net Sales |
1090.200 |
|
Total Expenditure |
1086.200 |
|
PBIDT (Excl OI) |
4.000 |
|
Other Income |
0.000 |
|
Operating Profit |
4.000 |
|
Interest |
0.000 |
|
Exceptional Items |
0.000 |
|
PBDT |
4.000 |
|
Depreciation |
0.000 |
|
Profit Before Tax |
4.000 |
|
Tax |
0.000 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
4.000 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
4.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
0.70
|
0.03 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.01
|
0.03 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.71 |
0.07 |
(20.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.00 |
(0.32) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.71 |
0.06 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.44 |
0.05 |
2.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
2.400 |
112.400 |
537.600 |
|
Reserves & Surplus |
0.800 |
3.445 |
10.701 |
|
Net
worth |
3.200 |
115.845 |
548.301 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1.267 |
32.305 |
388.129 |
|
Total
borrowings |
1.267 |
32.305 |
388.129 |
|
Debt/Equity
ratio |
0.396 |
0.279 |
0.708 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Sales |
0.000 |
1,429.815 |
1,036.231 |
|
|
|
|
(27.527) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
0.000 |
1,429.815 |
1,036.231 |
|
Profit |
(1.031) |
0.415 |
10.500 |
|
|
|
0.03% |
1.01% |
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 |
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 |
Yes |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
No |
|
17] |
Major
suppliers |
Yes |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
Yes |
|
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 |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
INDEX OF CHARGES
No Charges Exist For The Company.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
From Body Corporate |
388.129 |
32.305 |
|
|
|
|
|
Total |
388.129 |
32.305 |
PERFORMANCE & RESULTS:
The Company during the year had trading
business in IT software and hardware products. Inspite of adverse market
conditions, the Company has generated revenue from operations and achieved a
turnover of Rs. 1036.231 Millions during the current year, as against Rs.
1429.815 Millions during the previous year. Company and made a net profit of
Rs. 7.255 Millions during the year under review as compared to Rs. 0.414
Millions during the previous year.
The Management of the Company continues its
focus on the business of merged business entities and with the better political
stability in the India, looks forward for better growth and performance in the
coming years.
MANAGEMENT DISCUSSION AND ANALYSIS
Overall review, industry Structure and Developments:
ECONOMIC OVERVIEW:
A survey by global consultancy firm Ernst
& Young (E&Y) sees India as the world’s most attractive investment
destination. With the opening up of foreign direct investment (FDI) in several
sectors, India is today an eye-catching destination for overseas investors. The
relaxation of norms by the government has created a vast opportunity for
foreign players, who are competing for a greater role in the Indian market.
Sectors projected to do well in the coming years include automotive,
technology, life sciences and consumer products.
India has also become a hotbed for research
and development (R&D) and the country is now a preferred destination for
automotive R&D, as per a study on the Global Top 500 R&D spenders by
globalization advisory and market expansion firm, Zinnov. The study noted that
there was strong potential for growth in areas such as engineering analytics
and that significant talent could be found in ‘Deccan Triangle’ region, which
encompasses Pune, Bangalore and Hyderabad.
The World Bank has projected an economic
growth rate of 5.7 per cent in FY 15 for India, due to a more competitive
exchange rate and several significant investments going forward.
A sustained revival is being witnessed in the
global economy. Global trade and activity picked up in the second half of 2013.
IMF has forecast the world output growth to reach 3.6% in 2014, up from 3%
recorded in 2013. Strengthening of developed economies is likely to boost
demand, which, in turn, will help emerging markets and developing economies
strengthen further. Geopolitical uncertainties in some parts, through, remain a
cause of concern.
Leading the growth revival of developed
economies, the US has witnessed sustained strengthening in recording a GDP growth
of 1.6% in 2013, which is projected to further rise to 2.8% in 2014. The Euro
Zone appears to be transiting from recession to recovery with a projected GDP
growth of 1% in 2014 as against a marginal de- growth of 0.4% recorded in 2013.
INDUSTRY OVERVIEW
Enterprises are increasingly outsourcing their
technology and IT services requirements to global scale and competitive prices.
While global technology spending grew by 4.5% in 2013, global it sourcing grew
at almost double this rate to record 8.5% growth in 2013, according to
‘Strategic Review Report 2014’ of the National Association of software and
service companies(NASSCOM). Global IT service providers offer a range of end to
end solutions including software development, IT Business solutions, Research
and Development service, IT business solutions, Research & development
Services, Business Process Outsourcing(BPO), Consulting and related support
functions.
Over the past two decades, India has steadily
emerged as a leading sourcing destination for global IT Servises, BPO and
Research & Development Services.
PERFORMANCE
During the year, due to synergies which the
Company has entered into by way of amalgamation with two IT companies, has surely
resulted the Company to achieve robust turnover and boost the Company to
achieve better performance in the coming years. Directors are hopeful of
exploring more and more business avenues in the coming days. The Company has
been engaged in synchronizing / merging the business operations of the
amalgamated entities with that of the Company and Management is very much
optimistic about the better and better performance of the Company in the coming
years. Increased capital base of the Company will enable Company to take higher
risks in the business expansions and in turn will enable Company to gratify
shareholders’ confidence and value in the coming years.
FUTURE OUTLOOK
Driven by an improvement in the global
economic climate and rise in the technology spend, FY 2013-14 brought optimism
for the Indian IT-BPM industry. A gradual revival in consumer confidence
leading to return of discretionary spending, and increased demand from US and
Europe is expected to help drive exports in FY 2014-15. While US continues to
be the largest geographic market for India, accounting for 62% share, it is
widely expected that the revival in demand from Europe, will be the highlight
of FY 2014-15. The future looks positive as the IT-BPM industry is evolving
dramatically in terms of scale and complexity. The sector is expected to
leverage collaboration, innovation, technology shifts and build a
transformational agenda for India. It will create a market not only in India
but globally that will serve as technology differentiator for customers
shifting from cost to innovation. On home front, it is widely expected that
post general elections in April-May, 2014, the growth will return as
uncertainty gets reduced.
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. 61.91 |
|
|
1 |
Rs. 97.22 |
|
Euro |
1 |
Rs. 77.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.