|
Report No. : |
336566 |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISA RESOURCES PTE. LTD. |
|
|
|
|
Registered Office : |
61, Robinson Road, 17-01a, Robinson Centre, 068893 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
28.11.2008 |
|
|
|
|
Com. Reg. No.: |
200822399-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of commodities. |
|
|
|
|
No. of Employee : |
8 [2015] |
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
200822399-M |
||||
|
COMPANY NAME |
: |
VISA RESOURCES PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
28/11/2008 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-64359000/64359018 |
||||
|
FAX.NO. |
: |
65-64359001 |
||||
|
CONTACT PERSON |
: |
VIVEK AGARWAL ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF COMMODITIES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
7,270,000.00 ORDINARY SHARE, OF A VALUE OF SGD 7,270,000.00 |
||||
|
SALES |
: |
USD 142,349,372 [2014] |
||||
|
NET WORTH |
: |
USD 10,330,679 [2014] |
||||
|
STAFF STRENGTH |
: |
8 [2015] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading of
commodities.
The immediate holding company of the Subject is VISA GROUP LIMITED, a
company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
27/01/2015 |
SGD 7,270,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
VISA GROUP LIMITED |
61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE. |
200911321E |
7,270,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
7,270,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
VIVEK AGARWAL |
|
Address |
: |
10, DRAYCOTT PARK, 16-08, DRAYCOTT EIGHT, 259405, SINGAPORE. |
|
IC / PP No |
: |
G5935678Q |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
28/11/2008 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
VIVEK AGARWAL |
|
Position |
: |
MANAGING DIRECTOR, MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
MOORE STEPHENS LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. LUK CHIEW PENG |
|
IC / PP No |
: |
S6970685A |
|
|
Address |
: |
6, MARTIN PLACE, 31-11, MARTIN PLACE RESIDENCES, 237990, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
ING BANK N.V. |
|
2) |
Name |
: |
ABN AMRO BANK N.V. |
|
3) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
|
4) |
Name |
: |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200901552 |
11/03/2009 |
N/A |
ING BANK N.V. |
- |
Unsatisfied |
|
C200902589 |
05/05/2009 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201001681 |
24/02/2010 |
N/A |
RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT |
- |
Unsatisfied |
|
C201107170 |
15/06/2011 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201111071 |
08/09/2011 |
N/A |
ABN AMRO BANK N.V. |
- |
Unsatisfied |
|
C201201288 |
02/02/2012 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201213172 |
14/11/2012 |
N/A |
ICICI BANK LIMITED |
- |
Unsatisfied |
|
C201213173 |
14/11/2012 |
N/A |
ICICI BANK LIMITED |
- |
Unsatisfied |
|
C201410166 |
08/09/2014 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
1322 |
||||||||
|
Year |
: |
2014 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
SUPREME COURT |
|||||||||||
|
Date Filed |
: |
17/12/2014 |
|||||||||||
|
Solicitor |
: |
NG JIA EN |
|||||||||||
|
Solicitor Firm |
: |
STAMFORD LAW CORPORATION |
|||||||||||
|
Plaintiff |
: |
EXPERT PROFIT HOLDINGS LIMITED |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Remark |
: |
CARGO OWNER'S CLAIM |
|||||||||||
|
No winding up petition was found in our databank |
||
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
BULK COMMODITIES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
8 |
8 |
8 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
commodities.
The Subject engaged in the trading of commodities such as coal, coke, minerals
& metals.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64359000/64359018 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE,068893,SINGAPORE |
|
Current Address |
: |
61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.99% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.13% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing
and new market players.The higher profit could be attributed to the increase
in turnover. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
42 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
34 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not need
to keep stocks. The favourable debtors' days could be due to the good credit
control measures implemented by the Subject. The Subject had a favourable
creditors' ratio where the Subject could be taking advantage of the cash
discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.54 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.54 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
11.15 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.43 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject was lowly
geared thus it had a low financial risk. The Subject was mainly financed by
its shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in controlling
its costs and profitability. The Subject was in good liquidity position with
its total current liabilities well covered by its total current assets. With
its current net assets, the Subject should be able to repay its short term
obligations. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. The Subject
as a lowly geared company, will be more secured compared to those highly
geared companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : STRONG |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous quarter.
In 2013, the wholesale and retail sector expanded by 5.0%, after declining by
1.4% the year before. Growth of the sector was driven by the wholesale trade
segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter. The
slower growth was due to a decline in the sales of furniture and household
equipment (-12%) and petroleum and petroleum products (-0.6%). For the full
year, the domestic wholesale trade index grew by 5.2% reversing the 2.2%
decline in 2012. On the other hand, the foreign wholesale trade index has
increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor vehicles,
retail sales volume increased by 0.4%, a slower pace of expansion as compared
to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles
fell by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of
furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
16 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
142,349,372 |
119,249,489 |
138,816,591 |
151,082,741 |
100,958,617 |
|
Other Income |
2,321,873 |
292,070 |
224,641 |
18,917 |
76,304 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
144,671,245 |
119,541,559 |
139,041,232 |
151,101,658 |
101,034,921 |
|
Costs of Goods Sold |
(138,869,231) |
(116,198,869) |
(136,853,770) |
(146,962,369) |
(98,881,770) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
5,802,014 |
3,342,690 |
2,187,462 |
4,139,289 |
2,153,151 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,328,988 |
708,692 |
796,279 |
1,777,441 |
1,360,859 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,328,988 |
708,692 |
796,279 |
1,777,441 |
1,360,859 |
|
Taxation |
(89,997) |
141,219 |
(80,000) |
(177,214) |
(130,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,238,991 |
849,911 |
716,279 |
1,600,227 |
1,230,859 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
3,397,276 |
2,547,365 |
1,831,086 |
1,230,859 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
3,397,276 |
2,547,365 |
1,831,086 |
1,230,859 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,636,267 |
3,397,276 |
2,547,365 |
2,831,086 |
1,230,859 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(1,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,636,267 |
3,397,276 |
2,547,365 |
1,831,086 |
1,230,859 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Loan from associated companies |
- |
- |
101,667 |
- |
- |
|
Loan from holding company |
- |
5,903 |
- |
- |
- |
|
Others |
130,901 |
457,464 |
282,215 |
101,389 |
89,236 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
130,901 |
463,367 |
383,882 |
101,389 |
89,236 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
3,508 |
- |
1,425 |
1,628 |
1,832 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,508 |
- |
1,425 |
1,628 |
1,832 |
|
Stocks |
- |
- |
- |
16,164,250 |
- |
|
Trade debtors |
16,388,067 |
10,272,607 |
24,012,272 |
14,481,712 |
1,049,356 |
|
Other debtors, deposits & prepayments |
4,530,212 |
1,835,674 |
1,887,790 |
2,245,728 |
2,368,584 |
|
Short term deposits |
5,344,670 |
897,254 |
684,553 |
1,933,590 |
270,000 |
|
Amount due from related companies |
- |
59,352 |
- |
1,213,334 |
44,226 |
|
Cash & bank balances |
3,362,754 |
825,862 |
5,121,040 |
1,799,284 |
3,100,168 |
|
Others |
- |
- |
- |
175,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
29,625,703 |
13,890,749 |
31,705,655 |
38,012,898 |
6,832,334 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
29,629,211 |
13,890,749 |
31,707,080 |
38,014,526 |
6,834,166 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
13,081,212 |
3,859,837 |
20,726,823 |
2,759,518 |
30,580 |
|
Other creditors & accruals |
1,653,278 |
342,179 |
359,201 |
394,218 |
602,576 |
|
Hire purchase & lease creditors |
- |
- |
- |
7,301,372 |
- |
|
Bank overdraft |
23,817 |
- |
- |
- |
170,031 |
|
Short term borrowings/Term loans |
- |
- |
4,074,137 |
- |
- |
|
Other borrowings |
4,428,152 |
1,548,972 |
1,640,152 |
21,679,623 |
- |
|
Bill & acceptances payable |
- |
- |
- |
3,063,341 |
- |
|
Amounts owing to related companies |
- |
- |
1,609,282 |
140,248 |
4,000,000 |
|
Provision for taxation |
112,073 |
48,073 |
80,000 |
175,000 |
130,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
19,298,532 |
5,799,061 |
28,489,595 |
35,513,320 |
4,933,187 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
10,327,171 |
8,091,688 |
3,216,060 |
2,499,578 |
1,899,147 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,694,412 |
4,694,412 |
670,120 |
670,120 |
670,120 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,694,412 |
4,694,412 |
670,120 |
670,120 |
670,120 |
|
Retained profit/(loss) carried forward |
4,636,267 |
3,397,276 |
2,547,365 |
1,831,086 |
1,230,859 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
4,636,267 |
3,397,276 |
2,547,365 |
1,831,086 |
1,230,859 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
TYPES OF FUNDS |
|||||
|
Cash |
8,707,424 |
1,723,116 |
5,805,593 |
3,732,874 |
3,370,168 |
|
Net Liquid Funds |
8,683,607 |
1,723,116 |
5,805,593 |
669,533 |
3,200,137 |
|
Net Liquid Assets |
10,327,171 |
8,091,688 |
3,216,060 |
(13,664,672) |
1,899,147 |
|
Net Current Assets/(Liabilities) |
10,327,171 |
8,091,688 |
3,216,060 |
2,499,578 |
1,899,147 |
|
Net Tangible Assets |
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
Net Monetary Assets |
10,327,171 |
8,091,688 |
3,216,060 |
(13,664,672) |
1,899,147 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
4,451,969 |
1,548,972 |
5,714,289 |
32,044,336 |
170,031 |
|
Total Liabilities |
19,298,532 |
5,799,061 |
28,489,595 |
35,513,320 |
4,933,187 |
|
Total Assets |
29,629,211 |
13,890,749 |
31,707,080 |
38,014,526 |
6,834,166 |
|
Net Assets |
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
Net Assets Backing |
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
Shareholders' Funds |
10,330,679 |
8,091,688 |
3,217,485 |
2,501,206 |
1,900,979 |
|
Total Share Capital |
5,694,412 |
4,694,412 |
670,120 |
670,120 |
670,120 |
|
Total Reserves |
4,636,267 |
3,397,276 |
2,547,365 |
1,831,086 |
1,230,859 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.45 |
0.30 |
0.20 |
0.11 |
0.68 |
|
Liquid Ratio |
1.54 |
2.40 |
1.11 |
0.62 |
1.38 |
|
Current Ratio |
1.54 |
2.40 |
1.11 |
1.07 |
1.38 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
39 |
0 |
|
Debtors Ratio |
42 |
31 |
63 |
35 |
4 |
|
Creditors Ratio |
34 |
12 |
55 |
7 |
0 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.43 |
0.19 |
1.78 |
12.81 |
0.09 |
|
Liabilities Ratio |
1.87 |
0.72 |
8.85 |
14.20 |
2.60 |
|
Times Interest Earned Ratio |
11.15 |
2.53 |
3.07 |
18.53 |
16.25 |
|
Assets Backing Ratio |
1.81 |
1.72 |
4.80 |
3.73 |
2.84 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.93 |
0.59 |
0.57 |
1.18 |
1.35 |
|
Net Profit Margin |
0.87 |
0.71 |
0.52 |
1.06 |
1.22 |
|
Return On Net Assets |
14.13 |
14.48 |
36.68 |
75.12 |
76.28 |
|
Return On Capital Employed |
14.10 |
14.48 |
36.68 |
19.17 |
70.02 |
|
Return On Shareholders' Funds/Equity |
11.99 |
10.50 |
22.26 |
63.98 |
64.75 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.62 |
0.00 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
ASH |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.