MIRA INFORM REPORT

 

 

Report No. :

337716

Report Date :

21.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SURAJ INFORMATICS PRIVATE LIMITED

 

 

Registered Office :

403, 11/6 Srushti Brahamand Chs Azad Nagar, Godbunder Road, Thane – 400 607, Maharashtra

Tel. No.:

91-22-40309800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.04.2005

 

 

Com. Reg. No.:

11-152893

 

 

Capital Investment / Paid-up Capital :

Rs.5.000 Million

 

 

CIN No.:

[Company Identification No.]

U72900MH2005PTC152893

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

pnes19987C

 

 

PAN No.:

[Permanent Account No.]

aaics9442b

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Supplier of Cameras, CCTV, Wireless, Tele-communications.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Suraj informatics Private Limited, is incorporated in the year, 2005 it is established company having satisfactory track record.

 

During FY-2014, the company reported decline in its gross turnover from its previous year 2013. The company has able to achieved healthy profit margin noted at 8.66% during the year under review.

 

The company has shown sound financial strength, net worth position backed by its debt to equity at 0.77 times. Further the company is backed by its experienced promoters in the industry.

 

However, this rating is partially offsets by moderate scale of operations of the company and intense industry competition.

 

Trade relations are fair. Business is active. Payments are reported to be usually correct.

 

The company can be considered normal for the business dealings at its 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 DECLINED BY

 

Name :

Mr. Suresh Bhatt

Designation :

Administrative Manager

Contact No.:

91-22-40309800

Date :

20.08.2015

 

 

LOCATIONS

 

Registered Office :

403, 11/6 Srushti Brahamand Chs Azad Nagar, Godbunder Road, Thane – 400 607, Maharashtra, India

Tel. No.:

91-22-40309800

Fax No.:

91-22-40309849

E-Mail :

ravinaikca@yahoo.co.in

info@surajinformatics.com

Website :

www.surajinformatics.com

 

 

Corporate Office :

G-60, Gautam Complex, Sector -11, CBD Belapur, Navi Mumbai- 400614, Maharashtra, India

Tel. No.:

91-22-40309800

Tele-Fax No..:

91-22-40309849

E-Mail :

sales@surajinformatics.com

 

 

Branch Office :

Delhi

C-69B, Lower Ground Floor, Kalkaji New Delhi-110019, India
Tel: 91-11-40502759/ 26226259

 

 

Gujarat

Office No. 9, 1st Floor, Saurashtra CFS Business Center, Mundra Port & SEZ, Kutch – 370421, Gujarat, India

 

Guwahari:

GMC Market, Near Chandmari Fly Over Punjabari Road, Chandmari, Guwahati – 781003, India, Mobile No.: 91-9924417441

 

 

Other Branch Office :

Located At:

 

·         Pune

·         Jalgaon

·         Hyderabad

·         Dehradun

·         Bangalore

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rajeshwarprasad Bachiramraghwnand Bhatt

Designation :

Director    

Address :

Room No. 403, Shrusti Building, No. 11, Phase-IV, Thane – 400 607, Maharashtra

Date of Birth/Age :

10.08.1975

Date of Appointment :

29.04.2005

Din No.:

00988235

 

 

Name :

Mr. Amit Gupta

Designation :

Director    

Address :

House No. 537/46, Sector 46, Fathepur Chandela, Faridabad – 121 001, Haryana

Date of Birth/Age :

16.07.1977

Date of Appointment :

29.04.2005

Din No.:

01554431

 

 

KEY EXECUTIVES

 

Name :

Mr. Suresh Bhatt

Designation :

Administrative Manager

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Rajeshwarprasad Bachiramraghwnand Bhatt

125000

50.00

Amit Gupta

125000

50.00

Total

250000

100.00

 

 

 

As on 23.03.2015

 

Names of Allottee

No. of Shares

Rajeshwarprasad Bachiramraghwnand Bhatt

125000

Amit Gupta

125000

Total

250000

 

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Supplier of Cameras, CCTV, Wireless, Tele-communications.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Karur Vysya Bank Limited

Branch

Vashi Branch, E-40, A.P.M.C. Market-I, Phase-II, Vashi, Navi Mumbai - 400705, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

 

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loan from Karur Vysya Bank

 

8.231

Car loan from Karur Vysya Bank

0.081

0.000

Term loan from Kharghar Shop

0.517

0.000

Term loan – Belapur Office (CBO Stattion)

6.416

0.000

 

 

 

Short-term borrowings

 

 

Loan repayable on demand from KVB Bank

7.745

4.120

 

 

 

Total

14.759

12.351

 

Financial Institution :

ICICI Home Finance Company Limited, ICICI Bank Towers, Bandra-Kurla, Complex, Mumbai - 400051, Maharashtra, India

 

 

Auditors :

 

Name :

SHVRK and Company

Chartered Accountants

Address :

150/4114, Parivartan CHS, New Pantnagar, V.B. Lane, Ghatkopar (East), Mumbai-400075, Maharashtra, India

Tel No.:

91-22-25068581 / 25066635

E-mail Id.:

ravinaikca@yahoo.com

Mobile No.:

91-9833256188

PAN N Income-tax PAN of auditor or auditor's firm :

AAEFN8028K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

After As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

Rs.10/- each

Rs.2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

Rs.10/- each

Rs.2.500 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

2.500

2.500

2.500

(b) Reserves & Surplus

16.432

8.770

6.400

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

18.932

11.270

8.900

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

7.014

8.231

1.318

(b) Deferred tax liabilities (Net)

0.327

0.598

0.011

(c) Other long term liabilities

2.000

2.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

9.341

10.829

1.329

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7.745

4.120

7.898

(b) Trade payables

29.553

29.786

0.000

(c) Other current liabilities

1.766

2.069

21.959

(d) Short-term provisions

3.544

4.546

3.096

Total Current Liabilities (4)

42.608

40.521

32.953

 

 

 

 

TOTAL

70.881

62.620

43.182

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

15.505

18.044

6.726

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

4.688

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

5.530

1.811

2.434

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.202

0.860

1.618

(e) Other Non-current assets

7.070

4.857

3.636

Total Non-Current Assets

29.307

25.572

19.102

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.004

(b) Inventories

15.045

0.955

1.645

(c) Trade receivables

23.619

34.730

21.930

(d) Cash and cash equivalents

1.580

0.433

0.271

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

1.330

0.930

0.230

Total Current Assets

41.574

37.048

24.080

 

 

 

 

TOTAL

70.881

62.620

43.182

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

GROSS TURNOVER

88.466

128.874

126.026

 

 

 

 

 

Less

TOTAL EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

9.083

5.749

NA

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

2.695

1.341

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

6.388

4.408

NA

 

 

 

 

 

Less

TAX

(1.274)

2.038

 NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

7.662

2.370

1.620

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 30.64

9.48 

 6.48

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

8.66

1.84

1.29

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.77

7.25

NA

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.34

0.39

NA

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.78

1.10

1.04

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.98

0.91

0.73

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2.500

2.500

2.500

Reserves & Surplus

6.400

8.770

16.432

Net worth

8.900

11.270

18.932

 

 

 

 

long-term borrowings

1.318

8.231

7.014

Short term borrowings

7.898

4.120

7.745

Total borrowings

9.216

12.351

14.759

Debt/Equity ratio

1.036

1.096

0.780

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

126.026

128.874

88.466

 

 

2.260

(31.355)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

126.026

128.874

88.466

Profit

1.620

2.370

7.662

 

1.29%

1.84%

8.66%

 

 

 

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

No

17

Details of sister concerns

No

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 three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three 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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10391277

22/11/2012

225,000.00

KARUR VYSYA BANK LIMITED

VASHI BRANCH,E-40,A.P.M.C. MARKET-I,PHASE-II,, VA 
SHI,NAVI MUMBAI, NAVI MUMBAI, Maharashtra - 400705, INDIA

B63868251

2

10379854

18/09/2012

7,500,000.00

KARUR VYSYA BANK LIMITED

VASHI BRANCH,E-40,A.P.M.C. MARKET-I,PHASE-II,, VA 
SHI,NAVI MUMBAI, NAVI MUMBAI, Maharashtra - 400705, INDIA

B59431064

3

10289939

25/05/2011

1,400,000.00

KARUR VYSYA BANK LTD

VASHI BRANCH,, E-39 & 40,A.P.M.C.MARKET-1,PHASE-1 
1, VASHI,, NAVI MUMBAI, Maharashtra - 400705, INDIA

B14189310

4

10258727

03/11/2010

218,000.00

THE KARUR VYSYA BANK LIMITED

E-40,APMC MARKET I PHASE II,, VASHI, NAVI MUMBAI, 
Maharashtra - 400705, INDIA

B01367606

5

10212290

06/05/2014 *

25,875,000.00

KARUR VYSYA BANK

CENTRAL LOAN PROCESSING CELL, KAMANWALA CHAMBERS, 
SIR P M ROAD. FORT., MUMBAI, Maharashtra - 400001, INDIA

C34621862

6

10160779

04/06/2009

1,925,000.00

ICICI HOME FINANCE COMPANY LIMITED

ICICI Bank Towers, Bandra-Kurla, Complex,, Mumbai, Maharashtra - 400051, INDIA

A63181978

 

 

FIXED ASSETS

 

  • Building
  • Computers
  • Furniture and Fixture
  • Plant and machinery
  • Vehicles

 

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.65.23

UK Pound

1

Rs.102.20

Euro

1

Rs.72.57

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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

 

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