MIRA
INFORM REPORT
|
Report Date : |
29.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEPTUNE INFOSOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
B/203, Raj Ratan Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.10.2005 |
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Com. Reg. No.: |
11-157097 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.750 Million |
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CIN No.: [Company Identification
No.] |
U30000MH2005PTC157097 |
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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 : |
Private Limited Liability Company |
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Line of Business
: |
Dealing and Servicing of Computer Parts, Accessories and Other Communication
Devices. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s healthy operational risk
profile supported by sound financial base and fair liquidity profile of the
company. Trade relations are fair. Business is active. Payment terms 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
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 willfully 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 DECLINED BY
|
Name : |
Mr. Priyesh |
|
Contact No.: |
91-22-28449610 |
|
Date : |
28.11.2014 |
LOCATIONS
|
Registered/ Head Office : |
B/203, Raj Ratan Industrial Estate, B.J. Patel Road, Liberty Garden,
Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-28449610/ 11/ 12 |
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Fax No.: |
91-22-28833330 |
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E-Mail : |
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Website : |
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Branch Office : |
305, Prathmesh Complex, 3rd Floor, MMGS Marg, Dadar (East), Mumbai – 400014, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Devang Rajat Talati |
|
Designation : |
Director |
|
Address : |
A/305, Shankar Park, Shankar Lane, Kandivali (West), Mumbai – 400067, Maharashtra,
India |
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Date of Birth/Age : |
11.09.1973 |
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Date of Appointment : |
27.10.2005 |
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DIN No.: |
00327877 |
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Name : |
Mr. Kalpesh Ramanlal Shah |
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Designation : |
Director |
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Address : |
F/104, Shanti Apartment No. 1, Mathurdas Extn Road, Kandivali (West),
Mumbai – 400067, Maharashtra, India |
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Date of Birth/Age : |
18.04.1972 |
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Date of Appointment : |
27.10.2005 |
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DIN No.: |
00327922 |
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Name : |
Mr. Gaurang Hemendra Shah |
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Designation : |
Director |
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Address : |
B/10, Moti Nagar, Roshan Nagar Road, Chandavarkar Lane, Borivali
[West], Mumbai - 400092, Maharashtra,
India |
|
Date of Birth/Age : |
11.12.1973 |
|
Date of Appointment : |
27.10.2005 |
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DIN No.: |
00327971 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Devang Rajat Talati |
22500 |
30.00 |
|
Kalpesh Ramanlal Shah |
15000 |
20.00 |
|
Gaurang Hemendra Shah |
12500 |
16.67 |
|
Kumud Shah |
6250 |
8.33 |
|
Archana Shah |
9750 |
13.00 |
|
Bhakti Shah |
9000 |
12.00 |
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|
|
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Total |
75000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealing and Servicing of Computer Parts, Accessories and Other
Communication Devices. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
TMG and Associates Chartered Accountants |
|
Address : |
118, 1st Floor, Business Centre, Kesar Residency, Near Charkop
Market, Kandivli [West], Mumbai – 400067, Maharashtra, India |
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Tel. No.: |
91-22-28689466/ 28680793 |
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Mobile No.: |
91-9820469825 |
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Income-tax
PAN of auditor or auditor's firm : |
AAEFT4122A |
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Associated Enterprises where influence / control exist : |
Neptune Infosystems |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
75,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.750 Million |
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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 |
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|
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(1)Shareholders' Funds |
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(a) Share Capital |
0.750 |
0.750 |
0.750 |
|
(b) Reserves & Surplus |
7.720 |
6.517 |
5.446 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
8.470 |
7.267 |
6.196 |
|
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|
|
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(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 |
0.266 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.266 |
0.000 |
0.000 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
3.437 |
0.000 |
0.000 |
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(b)
Trade payables |
24.031 |
9.602 |
7.924 |
|
(c)
Other current liabilities |
0.445 |
0.321 |
0.988 |
|
(d) Short-term
provisions |
0.283 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
28.196 |
9.923 |
8.912 |
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|
|
|
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TOTAL |
36.932 |
17.190 |
15.108 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
1.283 |
0.201 |
0.163 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.103 |
0.003 |
0.006 |
|
(d) Long-term Loan and Advances |
0.000 |
0.386 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1.386 |
0.590 |
0.169 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.618 |
0.757 |
0.306 |
|
(c) Trade
receivables |
33.032 |
13.315 |
10.445 |
|
(d) Cash
and cash equivalents |
1.263 |
2.525 |
3.951 |
|
(e)
Short-term loans and advances |
0.132 |
0.000 |
0.237 |
|
(f)
Other current assets |
0.501 |
0.003 |
0.000 |
|
Total
Current Assets |
35.546 |
16.600 |
14.939 |
|
|
|
|
|
|
TOTAL |
36.932 |
17.190 |
15.108 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
GROSS
INCOME |
146.605 |
116.169 |
114.743 |
|
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|
EXPENSES |
NA |
NA |
NA |
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|
PROFIT BEFORE
TAX |
1.665 |
1.548 |
1.382 |
|
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|
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|
Less |
TAX |
0.462 |
0.477 |
0.432 |
|
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PROFIT AFTER TAX |
1.203 |
1.071 |
0.950 |
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.04 |
14.28 |
12.67 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.52 |
9.01 |
9.15 |
|
|
|
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.21 |
0.22 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.67 |
1.68 |
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 |
0.750 |
0.750 |
0.750 |
|
Reserves & Surplus |
5.446 |
6.517 |
7.720 |
|
Net
worth |
6.196 |
7.267 |
8.470 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
3.437 |
|
Total
borrowings |
0.000 |
0.000 |
3.437 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.406 |
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) |
|
Gross Income |
114.743 |
116.169 |
146.605 |
|
|
|
1.243 |
26.200 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Income |
114.743 |
116.169 |
146.605 |
|
Profit |
0.950 |
1.071 |
1.203 |
|
|
0.83% |
0.92% |
0.82% |
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 |
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 |
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 |
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 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advance from related parties Devang Talati HUF |
2.700 |
0.000 |
|
|
|
|
|
Total |
2.700 |
0.000 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 2, Manek
Kunjkasturba Road, Malad (West), Mumbai - 400064, Maharashtra, India to the
present address w.e.f.30.06.2009.
BACKGROUND
The Company is incorporated on 27th October, 2005 with the
main object of dealing and servicing computer parts, accessories and other
communication devices. The company is having its registered office at Mumbai,
Maharashtra.
BUSINESS REVIEW
During the year, gross income of the Company was Rs. 146.605 Millions as
against Rs. 116.169 Millions in the previous financial year. The net profit for
the year was Rs. 1.203 Millions as against Rs. 1.071 Millions during the
previous financial year.
FIXED ASSETS:
· Computer
Office
Equipments
Motor
Car
Furniture
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. 61.97 |
|
|
1 |
Rs. 97.37 |
|
Euro |
1 |
Rs. 77.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.