MIRA INFORM REPORT
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Report No. : |
338636 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
HTP GLOBAL TECHNOLOGIES PRIVATE LIMITED (w.e.f. 07.01.2013) |
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Formerly Known
As : |
HTP SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
12 Vishnu Sadan, S V Road, Near Filmistan Studio, Goregaon
(West), Mumbai – 400062, Maharashtra |
|
Tel. No.: |
91-22-28754346 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.04.1999 |
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Com. Reg. No.: |
11-119359 |
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Capital
Investment / Paid-up Capital : |
Rs.6.537 Million |
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CIN No.: [Company Identification
No.] |
U30007MH1999PTC119359 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07191C |
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PAN No.: [Permanent Account No.] |
AAACH7385Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of computer and computer peripherals, they also provide
networking solutions. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating on HTP Global Technologies Private Limited reflects sound
financial and operational risk profile marked by sound profitability margins
and comfortable debt protection metrics. The rating further take into account of company established track
record and decent experience of the promoter. Trade relation are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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. Amit Patil |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22–61960900 |
|
Date : |
27.08.2015 |
LOCATIONS
|
Registered Office : |
12 Vishnu Sadan, S V Road, Near Filmistan Studio, Goregaon
(West), Mumbai – 400062, Maharashtra, India |
|
Tel. No.: |
91-22-28754346 |
|
Mobile No.: |
91-9699388580 (Mr. Amit Patil) |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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|
Corporate Office / Sales Office
1 : |
901 – Techniplex - II, Off S. V. Road, Goregaon (West),
Mumbai – 400062, Maharashtra, India |
|
Tel. No.: |
91-22–61960900 |
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Fax No.: |
91-22–61960900 / 61960960 |
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Area : |
6000 Sq. Ft |
|
Location : |
Owned |
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Sales and
Service Office 2 : |
301, Onyx Tower, Next to Reliance Energy, Goregaon (West),
Mumbai – 400062, Maharashtra, India |
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|
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Middle East Office : |
F404, Musabeh Ahmad Mohd AlGaizi Building Deira, P O BOX
121911, Dubai, United Arab Emirates |
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Tel. No.: |
971(4)2550624 |
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Fax No.: |
971(4)2550624 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Rajiv Gurucharan Jain |
|
Designation : |
Managing Director |
|
Address : |
204, Indrapuri, S.V. Road, Opposite Cine Max, Goregaon (East), Mumbai
– 400062, Maharashtra, India |
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Date of Birth/Age : |
20.04.1970 |
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Date of Appointment : |
12.04.1999 |
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DIN No.: |
01212481 |
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|
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|
Name : |
Mrs. Seema Rajiv Jain |
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Designation : |
Director |
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Address : |
204, Indrapuri, S.V. Road, Opposite Cine Max, Goregaon (East), Mumbai –
400062, Maharashtra, India |
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Date of Birth/Age : |
31.12.1972 |
|
Date of Appointment : |
12.04.1999 |
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DIN No.: |
01212470 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Patil |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Grurcharan Moolchand Jain |
593 |
0.09% |
|
Rajiv Gurucharan Jain |
269188 |
41.18% |
|
Seema Rajiv Jain |
132400 |
20.25% |
|
Ambuj Gurucharan Jain |
30000 |
4.59% |
|
Pankaj Gurucharan Jain |
15000 |
2.29% |
|
Rajiv Gurucharan Jain HUF |
206500 |
31.60% |
|
Total |
653681 |
100.00% |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
68.41 |
|
Other top fifty shareholders |
31.59 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of computer and computer peripherals, they also provide
networking solutions. |
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Products : |
Computer Peripherals |
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Brand Names : |
Not Available |
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Agencies Held : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Dubai |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
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Supplier : |
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Customers : |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
P.L. Vaghela and Company Chartered Accountants |
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Address : |
201, Audumber, Opposite Mangalya hall, Hindu Friends Society Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra, India |
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Tel. No.: |
91-22-28342283 |
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E-Mail : |
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PAN No.: |
AAAPV6306Q |
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Sister Concerns
: |
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CAPITAL STRUCTURE
As on 31.03.2014
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 |
|
|
|
|
|
|
653681 |
Equity Shares |
Rs.10/- each |
Rs.6.537 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 |
6.537 |
6.537 |
6.537 |
|
(b) Reserves & Surplus |
60.258 |
55.119 |
50.129 |
|
(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) |
66.795 |
61.656 |
56.666 |
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
26.983 |
26.024 |
28.717 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
26.983 |
26.024 |
28.717 |
|
|
|
|
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(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
3.048 |
19.907 |
11.898 |
|
(b) Trade
payables |
67.337 |
59.948 |
21.231 |
|
(c) Other
current liabilities |
8.618 |
0.697 |
0.727 |
|
(d) Short-term
provisions |
5.898 |
3.652 |
2.562 |
|
Total Current
Liabilities (4) |
84.901 |
84.204 |
36.418 |
|
|
|
|
|
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TOTAL |
178.679 |
171.884 |
121.801 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
|
|
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|
(i)
Tangible assets |
39.476 |
37.971 |
41.604 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.514 |
7.894 |
8.690 |
|
(c) Deferred tax assets (net) |
0.546 |
0.616 |
0.320 |
|
(d) Long-term Loan and Advances |
13.809 |
5.868 |
5.443 |
|
(e) Other
Non-current assets |
16.081 |
5.378 |
4.274 |
|
Total Non-Current
Assets |
80.426 |
57.727 |
60.331 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
16.942 |
9.033 |
14.203 |
|
(c) Trade
receivables |
60.239 |
69.374 |
29.648 |
|
(d) Cash
and cash equivalents |
15.800 |
33.282 |
16.787 |
|
(e)
Short-term loans and advances |
0.271 |
2.465 |
0.827 |
|
(f) Other
current assets |
0.001 |
0.003 |
0.005 |
|
Total
Current Assets |
93.253 |
114.157 |
61.470 |
|
|
|
|
|
|
TOTAL |
173.679 |
171.884 |
121.801 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
245.599 |
225.583 |
165.6 |
|
|
Other Income |
NA |
NA |
NA |
|
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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|
PROFIT/ (LOSS) BEFORE TAX |
NA |
NA |
NA |
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TAX |
NA |
NA |
NA |
|
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|
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PROFIT/ (LOSS) AFTER TAX
|
5.139 |
4.989 |
3.873 |
|
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|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
NA |
NA |
20.407 |
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
13.708 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
7.86 |
7.63 |
5.93 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.233 |
NA |
NA |
|
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 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.09 |
2.21 |
2.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45 |
0.74 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.36 |
1.69 |
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 |
6.537 |
6.537 |
6.537 |
|
Reserves & Surplus |
50.129 |
55.119 |
60.258 |
|
Net worth |
56.666 |
61.656 |
66.795 |
|
|
|
|
|
|
long-term borrowings |
28.717 |
26.024 |
26.983 |
|
Short term borrowings |
11.898 |
19.907 |
3.048 |
|
Total borrowings |
40.615 |
45.931 |
30.031 |
|
Debt/Equity ratio |
0.717 |
0.745 |
0.450 |
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 |
165.600 |
225.583 |
245.599 |
|
|
|
36.222 |
8.873 |
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 |
165.600 |
225.583 |
245.599 |
|
Profit |
3.873 |
4.989 |
5.139 |
|
|
2.34% |
2.21% |
2.09% |
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) |
Yes |
|
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 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Volkswagen Finance Company Private Limited
|
1.990 |
0.000 |
|
Short Term Borrowings |
|
|
|
Loans and advances from related parties |
|
|
|
Due to directors |
|
|
|
Seema Jain |
0.082 |
0.000 |
|
Rajiv Jain |
2.966 |
0.000 |
|
Total |
5.038 |
0.000 |
GENERAL
INFORMATION:
The company (previously known as HTP Systems Private Limited) was
incorporated on April 12, 1999 under the companies act, 1956 and is engaged in
the business of trading in information technologies related goods and services.
FINANCIAL RESULTS
The company has achieved sales turnover of Rs.245.599 Million during the
period on which it has made net profit of Rs.5.139 Million after tax.
INDEX OF CHARGE:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10539539 |
30/12/2014 |
100,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, INDIA |
C38590535 |
|
2 |
10341720 |
29/04/2013 * |
40,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, Maharashtra, INDIA |
B74207309 |
|
3 |
10264016 |
25/01/2011 |
30,600,000.00 |
STANDARD CHARTERED BANK |
STANDARD CHARTERED TOWER, 201, B/1 WESTERN EXPRESS HIGHWAY, GOREGAON (East), MUMBAI, Maharashtra - 400063, INDIA |
B04068292 |
*Date of modification Charges
FIXED ASSETS:
·
Motor Car
·
Furniture
·
Office Appliances
·
Computer and Printer
·
Cellular Phone
·
Air Conditioner
·
Techniplex Office
Premises
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.16 |
|
|
1 |
Rs.103.87 |
|
Euro |
1 |
Rs.75.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KYP |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.