MIRA INFORM REPORT
|
Report No. : |
338668 |
|
Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITZ CASH CARD LIMITED |
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Registered
Office : |
Top 14th Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel,
Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-61125656 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.03.2006 |
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|
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Com. Reg. No.: |
11-160835 |
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Capital Investment
/ Paid-up Capital : |
Rs. 180.362 Million |
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CIN No.: [Company Identification
No.] |
U74999MH2006PLC160835 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCI5133N |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in issuance and operations of multipurpose Prepaid Cash Cards. |
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No. of Employees
: |
168 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “INTREX INDIA PRIVATE LIMITED”. It is an
established company having moderate track record. The company possesses moderate operational performance and it has
incurred huge losses from its operational activities. Rating further constrained on account of company’s moderate financial risk
profile marked by negative reserve and leverage balance sheet profile of the
company. However, rating weakness partially offset by experienced management
team and strong financial as well as managerial support from its holding
company. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of operational losses, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Fund Based bank facilities BB- |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
29.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Non fund based bank facilities A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
29.04.2015 |
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 PARTED BY
|
Name : |
Mr. Praveen Kumar Tiwari |
|
Designation : |
General Manager and Research and Development |
|
Contact No.: |
91-44-30957674 |
|
Date : |
26.08.2015 |
LOCATIONS
|
Registered Office : |
Top 14th Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower
Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-61125656 |
|
Mobile No.: |
91-9819541471 (Mr. Uday Paniker) |
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Fax No.: |
91-22-26185383 |
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E-Mail : |
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Website : |
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Regional Office : |
Located At: · Ahmedabad · Bangalore · Chennai · Hyderabad · Kolkata · Lucknow · New Delhi ·
Pune |
DIRECTORS
As on 10.07.2014
|
Name : |
Mr. Naveen Sirehmal Surya |
|
Designation : |
Managing director |
|
Address : |
A/233, Kalpataru Horizon,, S. K. Ahire Marg, Worli,, Mumbai-400018, Maharashtra, INDIA |
|
Date of Birth/Age : |
15.01.1972 |
|
Qualification : |
B. Com, ACS, LL.B., MMS(Finance) |
|
Experience : |
17 Years |
|
Date of Appointment : |
29.03.2006 |
|
DIN No.: |
00094514 |
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|
|
|
Name : |
Mr. Ashok Kumar Nandkishore Goel |
|
Designation : |
Director |
|
Address : |
702, Shubh Apartment, B.G. Kher Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1961 |
|
Qualification : |
B. COM |
|
Date of Appointment : |
29.03.2006 |
|
DIN No.: |
00025350 |
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|
|
|
Name : |
Mr. Mukund Manohar Chitale |
|
Designation : |
Director |
|
Address : |
4/46, Vishnuprasad Society, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1949 |
|
Qualification : |
B.Com. F.C.A. |
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Date of Appointment : |
03.05.2007 |
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DIN No.: |
00101004 |
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|
|
|
Name : |
Mr. Avnish Sarabjit Bajaj |
|
Designation : |
Nominee Director |
|
Address : |
Raheja Sunkist # 201, 21 Mount Mary Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1970 |
|
Qualification : |
MBA, MS and B. Tech |
|
Date of Appointment : |
29.08.2008 |
|
DIN No.: |
00281547 |
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|
|
|
Name : |
Mr. Bejul Somaia |
|
Designation : |
Nominee Director |
|
Address : |
11, Southern Avenue, Maharani Bagh, New Delhi – 110065, India |
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Date of Birth/Age : |
27.11.1972 |
|
Qualification : |
B.Sc. (First Class) in Economics from the London School of Economics and MBA from Harvard Business School |
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Date of Appointment : |
17.08.2009 |
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DIN No.: |
00059201 |
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|
|
|
Name : |
Mr. M R Umarji |
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Designation : |
Director |
|
Address : |
B-702, Pataliputra Co-Op. Hsg. Soc.4 Bunglows,, Nr. Kamdhenu Shop, Andheri (W), Mumbai-400053, Maharashtra, India |
|
Date of Appointment : |
23.09.2008 |
|
DIN No.: |
00307435 |
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|
Name : |
Mr. Rajendra Kumar Saraf |
|
Designation : |
Additional Director |
|
Address : |
Flat No.D-502, Jay Balaji Chs,, Plot No.26, Sec 6, Nerul, Navi Mumbai-400706, Maharashtra, India |
|
Date of Appointment : |
21.04.2015 |
|
DIN No.: |
02730755 |
KEY EXECUTIVES
|
Name : |
Deepika Thakur Bisain |
|
Designation : |
Secretary |
|
Address : |
004, Ground floor, Shankeshwar Accord JP Thakur Marg, Bhayander (West), Thane - 400069, Maharashtra, India |
|
Date of Birth/Age : |
17.05.1982 |
|
Date of Appointment : |
28/05/2013 |
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PAN No.: |
AKTPB8276C |
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|
|
|
Name : |
Mr. Praveen Kumar Tiwari |
|
Designation : |
General Manager and Research and Development |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.07.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Kaveeta Ashokkumar Goel |
|
49940 |
|
Goenka Amit |
|
10 |
|
Atul Goel |
|
10 |
|
Gagan Goel |
|
10 |
|
Shyam Sunder Jaidev Goel |
|
10 |
|
Nilesh Nanubhai Mistry |
|
10 |
|
Naveen Sirehmal Surya |
|
170010 |
|
Intrex India Private Limited, |
|
7713810 |
|
Vinod Rajindranath Sethi |
|
50000 |
|
Chitale Manohar Mukund |
|
5000 |
|
Matrix Partners |
|
1925799 |
|
Intel Capital ( |
|
601812 |
|
*Goel Nandkishore Ashok *Naveen Surya – Joint Holder *Sharadchandra Abhyankar - Joint
Holder |
|
286190 |
|
Lightspeed Venture Partners VIII Mauritius, |
|
1203624 |
|
Ganjam Trading Company Private Limited |
|
30000 |
|
Total |
|
12036235 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Ganjam Trading Company Private Limited |
|
600000 |
|
Total |
|
600000 |
Equity Share Break up (Percentage of Total Equity)
As on 10.07.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
31.00 |
|
Bodies corporate |
64.34 |
|
Directors or relatives of Directors |
1.87 |
|
Other top fifty shareholders |
2.79 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in issuance and operations of multipurpose Prepaid Cash Cards. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash / Cheque |
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Purchasing : |
Cash / Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
168 (Approximately) |
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Bankers : |
·
ICICI Bank, Nariman Pint, Mumbai, Maharashtra,
India ·
HDFC Bank, fort, Mumbai, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
MGB and Company Chartered Accountants |
|
Address : |
101, Jolly Bhavan 2, 7 New Marine Lines, Churchgate, Mumbai – 400020, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM5742R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
· Pan India Paryatan Private Limited · Seaswan Financial Services Private Limited |
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Ultimate Holding Company
: |
· Ganjam Trading Company Private Limited |
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|
|
Holding Company : |
· Intrex India Private Limited |
CAPITAL STRUCTURE
As on 10.07.2014
Authorised Capital : Rs.700.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 575.362
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Million |
|
1,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
Total |
|
Rs. 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,036,235 |
Equity Shares |
Rs.10/- each |
Rs.120.362
Million |
|
600,000 |
Preference Shares |
Rs.100/- each |
Rs. 60.000
Million |
|
|
Total |
|
Rs.180.362 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 |
180.362 |
120.362 |
120.362 |
|
(b) Reserves & Surplus |
(123.600) |
92.694 |
286.758 |
|
(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) |
56.762 |
213.056 |
407.120 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
4.705 |
4.255 |
4.717 |
|
Total Non-current
Liabilities (3) |
4.705 |
4.255 |
4.717 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1.687 |
0.000 |
0.000 |
|
(b) Trade
payables |
203.348 |
282.384 |
144.482 |
|
(c) Other
current liabilities |
439.180 |
309.494 |
253.479 |
|
(d) Short-term
provisions |
0.268 |
0.219 |
1.397 |
|
Total Current
Liabilities (4) |
644.483 |
592.097 |
399.358 |
|
|
|
|
|
|
TOTAL |
705.950 |
809.408 |
811.195 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
20.513 |
33.338 |
34.902 |
|
(ii)
Intangible Assets |
55.318 |
15.736 |
16.594 |
|
(iii)
Capital work-in-progress |
0.000 |
12.434 |
2.935 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
113.253 |
193.618 |
222.506 |
|
(e) Other
Non-current assets |
6.764 |
13.261 |
4.321 |
|
Total Non-Current
Assets |
195.848 |
268.387 |
281.258 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.404 |
0.614 |
0.107 |
|
(c) Trade
receivables |
31.097 |
27.724 |
37.978 |
|
(d) Cash
and cash equivalents |
162.778 |
137.257 |
310.264 |
|
(e)
Short-term loans and advances |
44.236 |
74.110 |
50.319 |
|
(f) Other
current assets |
269.587 |
301.316 |
131.269 |
|
Total
Current Assets |
510.102 |
541.021 |
529.937 |
|
|
|
|
|
|
TOTAL |
705.950 |
809.408 |
811.195 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
849.670 |
577.280 |
575.997 |
|
|
|
Other Income |
23.191 |
32.868 |
59.754 |
|
|
|
TOTAL (A) |
872.861 |
610.148 |
635.751 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
295.522 |
102.846 |
0.296 |
|
|
|
Employees benefits expense |
189.176 |
170.899 |
107.076 |
|
|
|
Other expenses |
575.774 |
494.470 |
542.074 |
|
|
|
TOTAL (B) |
1060.472 |
768.215 |
649.446 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(187.611) |
(158.067) |
(13.695) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2.070 |
0.494 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(189.681) |
(158.561) |
(13.695) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
26.613 |
35.503 |
40.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
(216.294) |
(194.064) |
(53.783) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(216.294) |
(194.064) |
(53.783) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(17.97) |
(16.12) |
(4.47) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1200.000 |
The above information has been parted by Mr. Praveen Kumar Tiwari (General
Manager and Research and Development)
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 flows from (used in) operation |
(47.930) |
(144.309) |
(303.688) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(25.46) |
(33.62) |
(9.34) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(22.08) |
(27.38) |
(2.38) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(30.64) |
(24.35) |
(6.65) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.81) |
(0.91) |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79 |
0.91 |
1.33 |
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 |
120.362 |
120.362 |
180.362 |
|
Reserves & Surplus |
286.758 |
92.694 |
(123.600) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
407.120 |
213.056 |
56.762 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
1.687 |
|
Total
borrowings |
0.000 |
0.000 |
1.687 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.030 |
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) |
|
Revenue from Operations |
575.997 |
577.280 |
849.670 |
|
|
|
0.223 |
47.185 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from Operations |
575.997 |
577.280 |
849.670 |
|
Profit |
(53.783) |
(194.064) |
(216.294) |
|
|
(9.34%) |
(33.62%) |
(25.46%) |
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 |
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 |
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 four 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 |
Yes |
|
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 |
10565078 |
30/03/2015 |
150,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE,
AHMEDABAD, Gujarat - 380006, INDIA |
C51420735 |
|
2 |
10491310 |
25/05/2015 * |
50,000,000.00 |
RBL Bank Limited |
SHAHUPURI,KOLHAPUR,, KOLHAPUR, Maharashtra - 416001, INDIA |
C60948684 |
* Date of charge modification
FIXED ASSETS
v
Tangible
assets
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
· Leasehold Improvements
v
Intangible
assets
· Brands and Trade Marks
· Computer 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.66.06 |
|
|
1 |
Rs.102.34 |
|
Euro |
1 |
Rs.74.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.