MIRA INFORM REPORT

 

 

Report No. :

338194

Report Date :

22.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ADITYA TELELINK PRIVATE LIMITED

 

 

Registered Office :

159, Somani Building, M.I. Road, Jaipur – 302001, Rajasthan

Tel. No.:

91-141-4032451

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.10.2004

 

 

Com. Reg. No.:

17-019762

 

 

Capital Investment / Paid-up Capital :

Rs.29.048 Million

 

 

CIN No.:

[Company Identification No.]

U64202RJ2004PTC019762

 

 

IEC No.:

1312003103

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in business as a reseller and distributor of telecom products, mobiles and other electronic appliances. 

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 550000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Rating is constrained on account of company's moderate financial risk profile marked by low profitability margins and moderate liquidity position of the company.

 

Rating further, constrained on account of volume driven and low value additive nature of the business with intense competition in the mobile dealership industry.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.

 

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

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term bank facilities: BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

18.06.2015

 

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

18.06.2015

 

 

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

 

MANAGEMENT NON CO-OPERATIVE (91-9829210676 / 91-141-4032451)

 

 

LOCATIONS

 

Registered Office :

159, Somani Building, M.I. Road, Jaipur – 302001, Rajasthan, India

Tel. No.:

91-141-4032451

Fax No.:

Not Available

E-Mail :

sameer@adityamail.com

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Jai Kumar Somani

Designation :

Director

Address :

A-25, Subhash Nagar, Jaipur - 302016, Rajasthan, India

Date of Appointment :

01.10.2009

DIN No.:

00127288

PAN No.:

AHUPS8046H

 

 

Name :

Mr. Sameer Somani

Designation :

Director

Address :

A-25, Subhash Nagar, Jaipur - 302016, Rajasthan, India

Date of Appointment :

01.10.2009

DIN No.:

00432064

PAN No.:

AHXPS8637F

 

 

Name :

Mamta Somani

Designation :

Director

Address :

A-25, Subhash Nagar, Jaipur - 302016, Rajasthan, India

Date of Appointment :

01.06.2015

DIN No.:

01922533

 

 

Name :

Mr. Kadam Maheshkumar Shah

Designation :

Director

Address :

6, Tithi Toran Flats - 2, Parbhu Park Society, Near Ishita Flats, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Appointment :

03.10.2014

DIN No.:

03369999

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Sameer Somani

 

1918765

Jai Kumar Somani

 

274375

Sanadevi Somani

 

97250

Peeyush Somani

 

18735

Prachi Somani

 

37500

Rameshwar Somani

 

93750

Suryansh Marketing India Private Limited, India

 

125000

Mamta Somani

 

39375

Vemuri finvest Private Limited, India

 

30500

Bhola Motors Private Limited, India

 

47500

Mukesh Commercial Private Limited, India

 

30000

Tushar India Private Limited, India

 

15000

Mart Developers

 

7500

Vaibhav laxmi Vamiga Private Limited, India

 

25000

Panchmukhl Vincom Private Limited, India

 

12500

Amarjyot Motor Finance Private Limited, India

 

25000

Geetanjali Infraprojects Private Limited, India

 

10500

Smriti Reanech Private Limited, India

 

16750

Surpati Distributors Private Limited, India

 

5000

Zenith Vincom Private Limited, India

 

22250

Sukhjit Consultant Private Limited, India

 

8500

Mansukh Advisory Private Limited, India

 

6500

Shaskhi Somani

 

37500

Total

 

2904750

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

13.35

Directors or relatives of Directors

86.65

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in business as a reseller and distributor of telecom products, mobiles and other electronic appliances. 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

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 :
  • Citibank N.A, Jeevan Vihar, 3, Sansad Marg, New Delhi - 110001, Delhi, India
  • Bank of Baroda, Mid Corporate Branch, C-94,Subhash Marg, C-Scheme,, Jaipur - 302001, Rajasthan, India

 

Banker Name

Bank of Baroda

Branch Address

C-94, Subhash Marg, C-Scheme, Jaipur - 302001, Rajasthan, 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 :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee term loans from banks

(Term Loan from ICICI Bank Limited and HDFC are secured by way of charge on respective vehicles purchased)

0.354

1.157

Term loans from others

(Term Loan from Tata Motors Finance Limited are secured by way of charge on respective vehicles

purchased.)

42.027

40.046

SHORT TERM BORROWING

 

 

Working capital loans from banks

(Short-term borrowings are repayable on demand, based on terms & conditions of the agreements)

134.485

164.862

Loans repayable on demand from others

0.000

21.689

Total

176.866

227.754

 

Auditors :

 

Name :

Kuldeep Kumar Gupta and Company

Chartered Accountant

Address :

209, Jaipur Tower, M. I. Road, Jaipur, Rajasthan, India

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

AABFK3652K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

owned, or have significant influence of or are partners with Key management personnel and their relatives:
  • Aditya Televentures Private Limited
  • Bhasker Retail Sales Private Limited
  • Lotus Appliances Private Limited
  • Suryansh Marketing India Private Limited
  • Vasudha Venture Private Limited
  • Vasundhara Stores Private Limited
  • Redd Communication India Private Limited
  • Avantika

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2904750

Equity Shares

Rs.10/- each

Rs. 29.048 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

29.048

29.048

25.704

(b) Reserves & Surplus

162.896

160.610

163.481

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

5.398

11.354

Total Shareholders’ Funds (1) + (2)

191.944

195.056

200.539

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

72.941

52.028

73.993

(b) Deferred tax liabilities (Net)

0.380

1.115

0.949

(c) Other long term liabilities

0.000

0.643

0.670

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

73.321

53.786

75.612

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

134.485

186.550

133.476

(b) Trade payables

89.200

78.075

18.025

(c) Other current liabilities

87.634

44.248

32.848

(d) Short-term provisions

0.803

2.645

9.959

Total Current Liabilities (4)

312.122

311.518

194.308

 

 

 

 

TOTAL

577.387

560.360

470.459

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

54.121

65.355

59.864

(ii) Intangible Assets

0.008

0.010

0.013

(iii) Capital work-in-progress

0.000

0.000

20.139

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

25.100

12.600

12.600

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.569

1.593

1.923

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

80.798

79.558

94.539

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

85.694

72.533

86.854

(c) Trade receivables

228.366

235.463

177.735

(d) Cash and cash equivalents

18.171

21.624

30.741

(e) Short-term loans and advances

20.955

20.586

11.140

(f) Other current assets

143.403

130.596

69.450

Total Current Assets

496.589

480.802

375.920

 

 

 

 

TOTAL

577.387

560.360

470.459

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Turnover

746.573

2774.801

2728.699

 

Other Income

26.057

30.962

NA

 

TOTAL

772.630

2805.763

NA

 

 

 

 

 

Less

EXPENSES

770.436

2804.576

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.194

1.187

NA

 

 

 

 

 

Less

TAX

(0.092)

0.715

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2.286

0.472

32.276

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.79

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

5.659

28.307

15.729

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

0.40

0.22

0.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.01

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.11

1.37

1.11

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.59

1.54

1.93

 

 

 

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

25.704

29.048

29.048

Reserves & Surplus

163.481

160.610

162.896

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

11.354

5.398

0.000

Net worth

200.539

195.056

191.944

 

 

 

 

long-term borrowings

73.993

52.028

72.941

Short term borrowings

133.476

186.550

134.485

Current maturities of long-term debts

15.729

28.307

5.659

Total borrowings

223.198

266.885

213.085

Debt/Equity ratio

1.113

1.368

1.110

 

 

YEAR-ON-YEAR GROWTH

 

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

2728.699

2774.801

746.573

 

 

1.690

-73.095

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

2728.699

2774.801

746.573

Profit

32.276

0.472

2.286

 

1.18%

0.02%

0.31%

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

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 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

Yes

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

 

OPERATION DURING THE YEAR

 

During the Period, the Company has achieved the Turnover of Rs. 746.573 Million in comparison of last year's turnover of Rs. 2774.801 Million. The directors are hopeful to get the good business opportunity in coming years.

 

UNSECURED LOAN

 

Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans from others

0.799

0.388

Loans and advances from others

29.761

10.436

Total

30.560

10.824

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10226558

13/04/2012 *

180,000,000.00

BANK OF BARODA

MID CORPORATE BRANCH,, C-94,SUBHASH MARG,C-SCHEME
,, JAIPUR, RAJASTHAN - 302001, INDIA

B38577243

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

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.65.83

UK Pound

1

Rs.103.39

Euro

1

Rs.74.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

0

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--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

 

30

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.