MIRA INFORM REPORT
|
Report No. : |
355571 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOLDLINE I-TECH SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Arun Chambers, Basement No.17, Tardeo Road, Mumbai – 400 034,
Maharashtra |
|
Tel. No.: |
91-22-66662202 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
27.12.2002 |
|
|
|
|
Com. Reg. No.: |
11-138427 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.580 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2002PTC138427 |
|
|
|
|
IEC No.: |
Not Applicable (Note:- As claimed by company management chat company does
not export and import) |
|
|
|
|
TIN: |
27620508178 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG9587B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject engaged in the business as dealer and distributor of computer
peripherals. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
18 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2002 having
satisfactory track record. It is engaged in the business as dealer and distributor of computer
peripherals. Profit margin of the company is low. However, net worth base of the
company is satisfactory. General financial position of the company is normal
and acceptable for business dealings. Further, the rating also takes into consideration favourable gap
between trade payables and trade receivables. Trade relations are reported as fair. Business is active. Payments
terms are reported as slow but correct. The company can be considered normal for business dealings 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
|
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Rupesh Kadam |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-42131000 |
|
Date : |
17.12.2015 |
LOCATIONS
|
Registered Office : |
Arun Chambers, Basement No.17, Tardeo Road, Mumbai – 400 034,
Maharashtra, India |
|
Tel. No. : |
91-22-25218401 / 66662202 / 42131000 / 42131021 / 23510382 / 23513967
/ 66627575 / 7777 / 66519090 |
|
Fax No. : |
91-22-23520382 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Branch Office : |
No.15, Bambasi lane, Near Residence Hotel, Fort, Mumbai – 400 001,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mrs. Monika Badami |
|
Designation : |
Director |
|
Address : |
Clifton, 3rd Floor, Professor Almedia Road, Bandra (West),
Mumbai – 400 50, Maharashtra, India |
|
Date of Birth/Age : |
03.12.1967 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.12.2002 |
|
DIN No.: |
02308843 |
|
|
|
|
Name : |
Mr. Munnawar Mohamedali Badami |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
02.01.1967 |
|
Qualification : |
B. Com |
|
PAN: |
AABPB9691F |
|
Date of Appointment : |
27.12.2002 |
|
DIN No.: |
02872639 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh Kadam |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Munnawar Mohamedali Badami |
55500 |
95.69 |
|
Monika Munnawar Badami |
2500 |
4.31 |
|
Total |
58000 |
100.00 |
AS ON 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the business as dealer and distributor of computer
peripherals. (Confirmed by management) |
|
|
|
|
Products : |
Computer peripherals |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
|
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment and Cheque |
|
|
|
|
Purchasing : |
Cash, Advance Payment and Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
18 (Approximately) |
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Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Piyush C. Bolia and Company Chartered Accountants |
|
Address : |
6, Sunder, Above Indian Bank, N.G. Acharya Marg, Chembur, Mumbai – 400
071, Maharashtra, India |
|
Tel. No.: |
91-22-25218401 |
|
E-Mail : |
|
|
PAN
No.: |
AOTPB9560K |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprise owned
or significantly influenced by Key management personnel or their relatives
(31.03.2014): |
ACE Distributions |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 0.580
Million
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
58000 |
Equity Shares |
Rs.10/- each |
Rs.0.580 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.580 |
0.580 |
0.580 |
|
(b) Reserves & Surplus |
11.874 |
10.664 |
9.173 |
|
(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) |
12.454 |
11.244 |
9.753 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.406 |
7.476 |
5.912 |
|
(b) Deferred tax liabilities (Net) |
0.099 |
0.089 |
0.080 |
|
(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) |
2.505 |
7.565 |
5.992 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.719 |
0.000 |
0.000 |
|
(b) Trade
payables |
32.447 |
17.373 |
49.487 |
|
(c) Other
current liabilities |
8.012 |
7.597 |
6.281 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
41.178 |
24.970 |
55.768 |
|
|
|
|
|
|
TOTAL |
56.137 |
43.779 |
71.513 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.032 |
0.519 |
0.370 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.324 |
0.324 |
0.526 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1.356 |
0.843 |
0.896 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9.347 |
5.613 |
5.035 |
|
(c) Trade
receivables |
37.593 |
29.699 |
42.323 |
|
(d) Cash
and cash equivalents |
1.778 |
3.737 |
14.938 |
|
(e)
Short-term loans and advances |
6.063 |
3.887 |
8.321 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
54.781 |
42.936 |
70.617 |
|
|
|
|
|
|
TOTAL |
56.137 |
43.779 |
71.513 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
231.069 |
264.191 |
249.301 |
|
|
|
Other Income |
0.212 |
0.160 |
0.206 |
|
|
|
TOTAL |
231.281 |
264.351 |
249.507 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
224.008 |
250.321 |
226.065 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(3.734) |
(0.578) |
(0.325) |
|
|
|
Employee benefits expense |
5.891 |
5.562 |
6.566 |
|
|
|
Other expenses |
2.918 |
6.730 |
13.871 |
|
|
|
TOTAL |
229.083 |
262.035 |
246.177 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2.198 |
2.316 |
3.330 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.273 |
0.026 |
0.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.925 |
2.290 |
3.242 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.160 |
0.105 |
1.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.765 |
2.185 |
1.872 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.555 |
0.694 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.210 |
1.491 |
1.872 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
20.86 |
25.71 |
32.28 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.52 |
0.56 |
0.75 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.95 |
0.88 |
1.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.14 |
4.99 |
2.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.25 |
0.66 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.72 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.580 |
0.580 |
0.580 |
|
Reserves & Surplus |
9.173 |
10.664 |
11.874 |
|
Net worth |
9.753 |
11.244 |
12.454 |
|
|
|
|
|
|
long-term borrowings |
5.912 |
7.476 |
2.406 |
|
Short term borrowings |
0.000 |
0.000 |
0.719 |
|
Total borrowings |
5.912 |
7.476 |
3.125 |
|
Debt/Equity ratio |
0.606 |
0.665 |
0.251 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
249.301 |
264.191 |
231.069 |
|
|
|
5.973 |
(12.537) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
249.301 |
264.191 |
231.069 |
|
Profit |
1.872 |
1.491 |
1.210 |
|
|
0.75% |
0.56% |
0.52% |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
CORPORATE INFORMATION
(31.03.2014)
The Company is a private limited company domiciled & incorporated in India, within the Jurisdiction of ROC, Mumbai at Maharashtra, under the provisions of Companies act, 1956
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans |
|
|
|
From Directors |
NA |
7.476 |
|
Total |
NA |
7.476 |
FIXED ASSETS:
·
Air Conditioner
·
Camera
·
Xerox Machine
·
Computers
·
Furniture and Fixture
·
Mobile Phones
·
Office Equipments
INDEX OF CAHREGS:
NOT INDEX OF CHARGES
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.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.