MIRA INFORM REPORT
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Report No. : |
335205 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRISMA GLOBAL LIMITED |
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Registered
Office : |
C-1403, 14th Floor, RNA Heights, J V Link road, Andheri (East),
Mumbai-400093, Maharashtra |
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Tel. No.: |
Not Available |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.02.2013 |
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Com. Reg. No.: |
11-240611 |
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Capital Investment
/ Paid-up Capital : |
Rs. 20.000 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2013PLC240611 |
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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 Closely Held Public Limited Liability Company |
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Line of Business
: |
The subject is engaged into IT Services. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 60000 |
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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 a relatively new company having moderate track record. Prisma Global Limited is a Public Company incorporated on 19 February 2013.
It is classified as Indian Non-Government Company and is registered at
registrar of Companies, Mumbai. Its authorized share capital is Rs. 20.000
Million and its paid up capital is Rs. 20.000 Million. Rating takes into consideration, subjects below average financial risk
profile marked by minimal sales turnover achieved by the subject and huge
deterioration in cash reserves during FY 2013-2014. However, as claimed by Mr. Yogesh Sood (Account Manager), the subject
has achieved sales turnover of Rs. 50.000 Million during FY 2014-2015, which
is not verified. Rating derives strength from experienced promoters and
management team. Trade relations are improving. Business is active. Payment terms are
reported to be slow but correct. Subject 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Vishal |
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Designation : |
Office Assistant |
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Contact No.: |
91-22-40820100 |
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Date : |
01.08.2015 |
|
Name : |
Mr. Yogesh Sood |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-40820100 |
|
Date : |
03.08.2015 |
LOCATIONS
|
Registered Office : |
C-1403, 14th Floor, RNA Heights, J V Link road, Andheri
(East), Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality : |
Residential |
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Corporate Office : |
718-721, Midas Building, Sahar Plaza, Andheri Kurla Road, Andheri
(East), Mumbai-400059, Maharashtra, India |
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Tel. No.: |
91-22-40820100 |
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Fax No.: |
91-22-40820101 |
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Location: |
Rented |
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Locality : |
Commercial |
DIRECTORS
AS ON: 19.08.2014
|
Name : |
Mr. Shreeram Subramaniam Iyer |
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Designation : |
Director |
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Address : |
C/1403,14th Floor, R.N.A. Heights, J.V. Link Road, Andheri (East), Mumbai-400093, Maharashtra, India |
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Date of Birth/Age : |
23.09.1973 |
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Date of Appointment : |
19.02.2013 |
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DIN No.: |
02768043 |
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Other
Directorship:
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Name : |
Mr. Maryann Shreeram Iyer |
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Designation : |
Director |
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Address : |
C/1403,14th Floor, R.N.A. Heights, J.V. Link Road, Andheri (East), Mumbai-400093, Maharashtra, India |
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Date of Birth/Age : |
29.05.1974 |
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Date of Appointment : |
19.08.2014 |
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DIN No.: |
03010793 |
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Other
Directorship:
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Name : |
Mr. Amitabh Sankar Roy Chowdhury |
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Designation : |
Director |
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Address : |
C-201, RNA HEIGHTS, JVLR, Andheri (East), Mumbai-400093, Maharashtra, India |
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Date of Birth/Age : |
20.03.1969 |
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Date of Appointment : |
19.02.2013 |
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DIN No.: |
06484836 |
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Other
Directorship:
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Name : |
Mr. Nikhil Vasant Narkar |
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Designation : |
Additional director |
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Address : |
Orchids 72, Pali Hill, Bandra, Mumbai-400050, Maharashtra, India |
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Date of Appointment : |
16.06.2015 |
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DIN No.: |
01734670 |
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Other
Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Vishal |
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Designation : |
Office Assistant |
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Name : |
Mr. Yogesh Sood |
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Designation : |
Accounts Manager |
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Name : |
Arun Madhukar Deshpande |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 19.08.2014
|
Names of Shareholders |
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No. of Shares |
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Shreeram Subramaniam Iyer |
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1617500 |
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Amitabh Sankar Roy Chowdhury |
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230000 |
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Maryann Shreeram Iyer |
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120000 |
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Chintan Omprakash Dave |
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1250 |
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Seethalakshmi Balasubramaniam Iyer |
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1500 |
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Amita Amitabh Roy Chowdhury |
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1250 |
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Anil Sachidanand |
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15000 |
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Mac Narhona |
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1500 |
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Mabel Gabriel Rodrigues |
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9000 |
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Rajashri Iyyapan |
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3000 |
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Total |
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2000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 19.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged into IT Services. |
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Products : |
Not Divulged |
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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 : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Narendra S. Barve and Associates Chartered Accountants |
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Address : |
3/C, 44, Jai Vijay Society, Western Express Highway, Sahar Road,
Andheri (East), Mumbai-400099, Maharashtra, India |
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Mobile No.: |
91-9867639450 |
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E-Mail : |
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PAN No.: |
ACYPB3513D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : (As confirmed by the management) |
Prisma GMBH |
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
|
20.000 |
11.200 |
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(b) Reserves & Surplus |
|
(0.308) |
(0.707) |
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(c) Money received against share warrants |
|
0.000 |
0.000 |
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|
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|
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
|
19.692 |
10.493 |
|
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|
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(3) Non-Current
Liabilities |
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|
|
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(a) long-term borrowings |
|
45.334 |
0.208 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
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(c) Other long term liabilities |
|
0.000 |
0.000 |
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(d) long-term provisions |
|
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
|
45.334 |
0.208 |
|
|
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|
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(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current liabilities |
|
7.077 |
0.000 |
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(d) Short-term provisions |
|
2.655 |
0.028 |
|
Total Current Liabilities (4) |
|
9.732 |
0.028 |
|
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TOTAL |
|
74.758 |
10.729 |
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II.
ASSETS |
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|
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(1) Non-current
assets |
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|
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|
(a) Fixed Assets |
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|
|
|
(i) Tangible assets |
|
6.849 |
0.000 |
|
(ii) Intangible Assets |
|
3.064 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
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(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
32.532 |
7.096 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.277 |
0.000 |
|
(e) Other Non-current assets |
|
15.572 |
0.487 |
|
Total Non-Current
Assets |
|
59.294 |
7.583 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
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(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
15.279 |
0.000 |
|
(d) Cash and cash equivalents |
|
0.184 |
3.146 |
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(e) Short-term loans and advances |
|
0.000 |
0.000 |
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(f) Other current assets |
|
0.001 |
0.000 |
|
Total Current
Assets |
|
15.464 |
3.146 |
|
|
|
|
|
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TOTAL |
|
74.758 |
10.729 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
17.612 |
0.000 |
|
|
Other Income |
|
0.007 |
0.000 |
|
|
TOTAL (A) |
|
17.619 |
0.000 |
|
|
|
|
|
|
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Less: |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
|
5.623 |
0.000 |
|
|
Other expenses |
|
8.468 |
0.653 |
|
|
TOTAL (B) |
|
14.091 |
0.653 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (A-B) (C) |
|
3.528 |
(0.653) |
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|
|
|
|
|
|
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Less: |
FINANCIAL EXPENSES (D) |
|
0.181 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
3.347 |
(0.653) |
|
|
|
|
|
|
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Less: |
DEPRECIATION/
AMORTISATION (F) |
|
2.948 |
0.054 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
|
0.399 |
(0.707) |
|
|
|
|
|
|
|
Less: |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
|
0.399 |
(0.707) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
0.20 |
(1.00) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
50.000 |
The above information has been parted by Mr. Yogesh Sood (Accounts
Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net Cash Flow from (used in) Operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
2.27 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
20.03 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.94 |
(19.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.02 |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
2.30 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.59 |
112.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
11.200 |
20.000 |
|
Reserves & Surplus |
(0.707) |
(0.308) |
|
Net worth |
10.493 |
19.692 |
|
|
|
|
|
long-term borrowings |
0.208 |
45.334 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total borrowings |
0.208 |
45.334 |
|
Debt/Equity ratio |
0.020 |
2.302 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS: |
|
|
|
From Directors |
45.334 |
0.208 |
|
|
|
|
|
Total |
45.334 |
0.208 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10543427 |
30/12/2014 |
10,000,000.00 |
CORPROATION BANK |
SME MAROL BRANCH,
ANDHERI(EAST), BONANZA SAHAR PLAZA, |
C40652521 |
FIXED ASSETS:
Tangible
- Air Conditioner
- Computers
- Furniture and Fixtures
- Office Equipments
- Telephone Instruments
- Car
Intangible
- Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 63.96 |
|
UK Pound |
1 |
Rs. 99.93 |
|
Euro |
1 |
Rs. 70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
THR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.