MIRA INFORM REPORT

 

 

Report No. :

355840

Report Date :

22.12.2015

 

IDENTIFICATION DETAILS

 

Name :

AGS TRANSACT TECHNOLOGIES LIMITED (w.e.f.20.07.2010)

 

 

Formerly Known As :

AGS TRANSACT TECHNOLOGIES PRIVATE LIMITED (w.e.f.03.06.2010)

 

AGS INFOTECH PRIVATE LIMITED

 

 

Registered Office :

601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra

Tel. No.:

91-22-67812000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.12.2002

 

 

Com. Reg. No.:

11-138213

 

 

Capital Investment / Paid-up Capital :

Rs. 1203.926 Million

 

 

CIN No.:

[Company Identification No.]

U72200MH2002PLC138213

 

 

IEC No.:

0303001526

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA18573C

 

 

PAN No.:

[Permanent Account No.]

AAECA0901H

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is in the business of trading of technology-based automation solution products for the Banking, Petroleum, Colour and Retail sectors and also providing of ATM Management Services for various Banks. (Confirmed by Management)

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (62)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 2002 and it is engaged in providing hardware and software solutions for banking, retail, petroleum, and color sectors.

 

The company operates in three business segments: 1) Banking Automation Solutions, comprising sale of ATM machines, cash dispensers and other automation products, ATM site management and maintenance; 2) Banking Payment Solutions, comprising ATM management under outsourcing and managed service model, cash management services and 3) Other Automation Solutions, comprising of sale of automation products to retail, petroleum and colour industry.

 

For the financial year ended 2014, the company has reported 49.26 revenue growth as compared to previous year revenue and it has maintain average profitability margin at 1.54% during the year under review.

 

The ratings takes into account of company’s consistent revenue growth achieved from the banking segment due to addition of new ATMs to its portfolio supported by India’s favorable demographic profile coupled with Government of India’s (GoI) recent drive towards financial inclusion to improve banking coverage, which is likely to lead to increased issuance of debt/credit cards and ATM usage in the rural and semirural areas.

 

Ratings also takes into consideration company’s long standing relationship with reputed global suppliers and the long experience of the promoters and key management personnel in their respective business lines.

 

However, rating strength is partially offset by highly working capital intensive nature of the company’s operations due to stretched receivables and weakened operating profitability and coverage indicators in 2014-15. The ratings are also tempered by the funding support being extended by company to subsidiary companies.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitment.

 

 In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTE:

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but the documents related to the financial for the year 31.03.2015 are not available from any source.

 

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

ICRA

Rating

Long term fund based = A

Rating Explanation

Adequate degree of safety and low credit risk.

Date

December 2015

 

 

Rating Agency Name

ICRA

Rating

Short term fund based = A1

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

December 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 31-03-2015.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Ajit Pethe

Designation :

Company Secretary

Contact No.:

91-22-67812000

Date :

17.12.2015

 

 

LOCATIONS

 

Registered/ Head Office :

601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India

Tel. No.:

91-22-67812000

Fax No.:

91-22-24935384

E-Mail :

ravi_goyal@agsindia.com

ravig@agsindia.com

srini@agsindia.com

Website :

http://www.agsindia.com

 

 

Corporate Office :

14th Floor, Tower – 3, Indiabulls Finance Center, S. B. Marg, Elphinstone Road (West), Mumbai – 400013, Maharashtra, India

Tel. No.:

91-22-71818181

 

 

Tech Support Centre :

Plot No. EL 201, TTC Industrial Area, Near Nelco, DNA Press, Mahape, Navi Mumbai – 400705, Maharashtra, India

Tel. No.:

91-22-61484000

 

 

Navi Mumbai – TRC

Unit No. 19 to 21, Building No: 2, (A-3), Sector 1, Millennium Business Park, MIDC, Mahape, Navi Mumbai – 400709, Maharashtra, India

Tel. No.:

91-22-67812211

 

 

Branch Office

AGS House, Plot No. EL – 82-83, MIDC, TTC Industrial Area, Mahape, Navi Mumbai – 400710, Maharashtra, India

Tel. No.:

91-22-45766666

 

 

Warehouse

C/o. The Cotton Corporation of India Ltd, Compartment 5, Ground Floor, Godown No.III, Plot No. S 5, Sector – KWC, Warehousing Complex, Kalamboli, Panvel – 410218, Maharashtra, India

Tel. No.:

91-22-64577341

 

 

Assembling Unit

Survey No. 172/3, 173/3 & 173/4, Part – A, Ground Floor, Behind Olive Health Care, Atiyawad, Dabhel, Nani Daman – 396210, Gujarat, India

Tel. No.:

91-260-325456

 

 

Branch Offices :

Located at:

 

North Zone

·         Amritsar 

·         Chandigarh

·         New Delhi 

·         Jaipur 

·         Jammu 

·         Lucknow 

·         Srinagar 

·         Patna 

·         Dehradun

 

East Zone

·         Cuttack

·         Guwahati

·         Kolkata

·         Ranchi

·         Chhattisgarh

 

South Zone

·         Bangalore

·         Chennai

·         Cochin

·         Hyderabad

·         Pondicherry

·         Tirupur

 

West Zone

·         Ahmedabad

·         Indore

·         Pune

·         Surat

·         Goa

·         Vishakhapatnam

 

DIRECTORS

 

AS ON 26.09.2014

 

Name :                                

Mr. Ravi Badrinarain Goyal

Designation :

Managing Director

Address :

203, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

02.05.1962

Qualification :

B.E. (Electrical)

Experience :

25 Years

Date of Appointment :

11.12.2002

Election Commission Identity Card No.:

KNF1217546

PAN No.:

AACPG0726F

DIN No.:

01374288

 

 

Name :                                

Mr. Badrinarain Kunjbihari Goyal

Designation :

Director

Address :

204, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

09.05.1940

Qualification :

Electronics Diploma Engineer

Date of Appointment :

11.12.2002

Election Commission Identity Card No.:

MT/08/038/0144771

DIN No.:

01679378

 

 

Name :

Mrs. Anupama Ravi Goyal

Designation :

Director

Address :

203, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

10.09.1965

Qualification :

M.A.

Date of Appointment :

10.08.2012

PAN No.:

AACPG0725G

DIN No.:

02696453

 

 

Name :

Mr. Sudip Bandyopadhyay

Designation :

Director

Address :

Ansal Heights Flat No.1801, 18th Floor, Block - B, Worli Naka, Mumbai - 400018, Maharashtra, India

Date of Birth/Age :

06.04.1964

Qualification :

CA and Cost Accountant

Date of Appointment :

20.09.2010

DIN No.:

00007382

 

 

Name :

Mr. Vishwarupe Rajat Kumar Narain

Designation :

Nominee Director

Address :

Flat No.509, Mansarovar Building, 5/6, MT Pleasant Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

12.08.1974

Qualification :

MBA and Master of Tech. from IIT, Delhi

Date of Appointment :

07.06.2011

DIN No.:

03394320

 

 

Name :

Mr. Jagadish Capoor

Designation :

Director

Address :

1601 Brooke Ville, 359 Mogul Lane, Mahim (West), Mumbai - 400016, Maharashtra, India

Date of Appointment :

12.03.2015

DIN No.:

00002516

 

 

Name :

Mr. Bharat Dhirajlal Shah

Designation :

Director

Address :

Flat No. 21, Hill Park Building. No. 2, A G Bell Marg, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Appointment :

12.03.2015

DIN No.:

00136969

 

 

Name :

Mr. Sivanandhan Dhanushkodi

Designation :

Director

Address :

1803, B Wing, Ashoka Towers, Ambedkar Road, Parel, Mumbai - 400012, Maharashtra, India

Date of Appointment :

12.03.2015

DIN No.:

03607203

 

 

Name :

Mr. Vijay Chugh

Designation :

Director

Address :

Flat No. A-2602, Eldora Co-Operative Hosing Society, Hiranandani Garden,, Technology Street, Near Hiranandani Hospital,Powai, Mumbai - 400076, Maharashtra, India

Date of Appointment :

12.03.2015

DIN No.:

07112794

 

 

Name :

Mr. Mahesh Ramchand Chhabria

Designation :

Nominee Director

Address :

11 Golden Beach, Ruia Park, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

19.04.1964       

Qualification :

B.COM, CA

Date of Appointment :

22.11.2012

DIN No.:

00166049

 

 

KEY EXECUTIVES

 

Name :

Mr. Ajit Ravindra  Pethe

Designation :

Company Secretary

Address :

Block No 3, Vaidya Cottage, 42,Park Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India

Date of Appointment :

30.01.2015

PAN No.:

AKSPP5245J

 

 

Name :

Mr. Amit Majumdar

Designation :

Chief Finance Officer

Address :

D-1802/02, Lake Lucerne Phase-3, Lake Homes, Off. A.S.Marg, Powai, Mumbai - 400076, Maharashtra, India

Date of Appointment :

27.01.2015

PAN No.:

AEKPM1973N

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

 

No. of Shares

 

Ravi Badrinarain Goyal

 

66460312

TPG Star SF Pte Limited, Singapore

 

31256852

Oriole Limited, Mauritius

 

19797412

AGSTTL Employees’Welfare Trust

 

1886000

Badrinarain Kunjbihari Goyal

 

750000

Anand Agarwal

 

73920

V.C. Gupte

 

46000

Shailesh Shetty

 

36000

Vishnu Kamat

 

18000

Rajesh Shah

 

18000

Nikhil Patiyat

 

18000

Subrat Mishra

 

18000

Ravindra Deshpande

 

14000

Trinity Ventures

 

64

Anupama Ravi Goyal

 

16

 

 

 

Total

 

 

120392576

 

 

AS ON 26.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

25.07

Directors or relatives of directors

74.93

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is in the business of trading of technology-based automation solution products for the Banking, Petroleum, Colour and Retail sectors and also providing of ATM Management Services for various Banks. (Confirmed by Management)

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

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:

ICICI Bank Limited

Branch:

Alkapuri, Baroda – 390015, Gujarat, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Citibank N.A.

Bandra Kurla Complex, G-Block, Bandra [East], Mumbai - 400051, Maharashtra, India

 

·         HDFC Bank Limited

HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

 

·         Yes Bank Limited

9th  Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

766.663

467.376

Term loan from others

1431.991

198.150

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

1365.562

997.275

 

 

 

Total

 

3564.216

1662.801

 

Auditors :

 

Name :

S R Batliboi and Associates LLP

Chartered Accountants

Address :

The Ruby, 14th Floor, 29, Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India

Tel. No.:

91-22-61920000

Fax No.:

91-22-61921000

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

ACHFS9118A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary company :

·         Securevalue India Limited (U74120MH2012PLC230193)

·         India Transact Services Limited (U72900MH2007PLC172249)

 

 

Enterprises which are owned, or have significant

influence of or are partners

with Key management personnel and their relatives :

·         Instruments Research Associates Private Limited (U24119KA1984PTC006178)

·         Ags Sundyne Technologies Private Limited (U72200MH2006PTC161398)

·         Fillon Technologies India Private Limited (U74999MH2003PTC139495)

·         Global Transact Services Pte Limited

·         Ags Mega Automation Systems Private Limited

 

 

CAPITAL STRUCTURE

 

AFTER 26.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,60,000,000

Equity Shares

Rs. 10/- each

Rs. 1600.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,20,392,576

Equity Shares

Rs. 10/- each

Rs. 1203.926 Million

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25,000,000

Equity Shares

Rs. 10/- each

Rs. 250.000 Million

10,000,000

Preference Shares

Rs. 10/- each

Rs. 100.000 Million

 

 

 

 

 

Total

 

Rs. 350.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22,424,500

Equity Shares

Rs. 10/- each

Rs.224.245 Million

7,141,664

Preference Shares

Rs. 10/- each

Rs. 71.417 Million

 

 

 

 

 

Total

 

Rs. 295.662 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

295.662

295.662

257.417

(b) Reserves & Surplus

4058.891

3912.877

2230.235

(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)

4354.553

4208.539

2487.652

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2198.654

665.526

111.339

(b) Deferred tax liabilities (Net)

35.818

9.711

0.000

(c) Other long term liabilities

54.456

36.253

19.033

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

2288.928

711.490

130.372

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1365.562

997.275

1846.194

(b) Trade payables

1508.768

1476.141

642.904

(c) Other current liabilities

1492.696

574.850

359.711

(d) Short-term provisions

81.379

65.539

34.021

Total Current Liabilities (4)

4448.405

3113.804

2882.830

 

 

 

 

TOTAL

11091.886

8033.834

5500.854

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3070.510

2045.909

1305.802

(ii) Intangible Assets

120.153

152.078

125.641

(iii) Capital work-in-progress

363.594

407.240

105.300

(iv) Intangible assets under development

29.043

0.000

0.000

(b) Non-current Investments

249.093

101.003

0.503

(c) Deferred tax assets (net)

54.963

43.980

23.420

(d)  Long-term Loan and Advances

1550.213

1065.582

711.912

(e) Other Non-current assets

247.100

3.907

10.869

Total Non-Current Assets

5684.669

3819.698

2283.447

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1488.781

1332.989

887.985

(c) Trade receivables

2557.734

2316.348

1714.151

(d) Cash and cash equivalents

54.175

98.422

176.514

(e) Short-term loans and advances

653.414

462.981

435.776

(f) Other current assets

653.113

3.395

2.981

Total Current Assets

5407.217

4214.135

3217.407

 

 

 

 

TOTAL

11091.886

8033.834

5500.854

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

 

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

9493.800

6367.095

5116.312

 

 

Other Income

32.373

15.745

16.099

 

 

TOTAL                                    

9526.173

6382.840

5132.411

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

3326.352

2661.845

2231.967

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(86.712)

(123.117)

88.217

 

 

Employees benefits expense

682.085

577.41

427.349

 

 

Other expenses

4187.599

2562.22

1758.669

 

 

Prior period items before tax

0.000

0.000

44.856

 

 

TOTAL                                    

8109.324

5678.358

4551.058

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1416.849

704.482

581.353

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

552.773

246.413

281.693

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

864.076

458.069

299.660

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

626.107

344.751

176.565

 

 

 

 

 

 

PROFIT BEFORE TAX

237.969

113.318

123.095

 

 

 

 

 

Less

TAX                                                                 

91.872

33.855

49.462

 

 

 

 

 

 

PROFIT AFTER TAX

146.097

79.463

73.633

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

18.998

14.518

15.313

 

TOTAL EARNINGS

18.998

14.518

15.313

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

518.615

451.615

514.291

 

 

Stores & Spares

2211.427

557.394

46.496

 

 

Capital Goods

2.546

74.997

57.642

 

TOTAL IMPORTS

2732.588

1084.006

618.429

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

Basic

6.51

3.76

6.92

 

Dilluted

4.89

2.82

3.19

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

545.669

173.686

46.219

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net Cash flow from (used in) Operations

167.317

399.664

(809.430)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.54

1.25

1.44

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

14.92

11.06

11.36

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.29

1.51

2.29

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

0.03

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.82

0.40

0.79

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.22

1.35

1.12

 

 

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

257.417

295.662

295.662

Reserves & Surplus

2230.235

3912.877

4058.891

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2487.652

4208.539

4354.553

 

 

 

 

Long-term borrowings

111.339

665.526

2198.654

Short term borrowings

1846.194

997.275

1365.562

CURRENT MATURITIES OF LONG-TERM DEBTS

46.219

173.686

545.669

Total borrowings

2003.752

1836.487

4109.885

Debt/Equity ratio

0.805

0.436

0.944

 

 

 

 

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

5116.312

6367.095

9493.800

 

 

24.447

49.107

 

 

 

 

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

5116.312

6367.095

9493.800

Profit

73.633

79.463

146.097

 

1.44%

1.25%

1.54%

 

 

 

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

Yes

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

No

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

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

10575229

27/05/2015

400,000,000.00

INDUSIND BANK LIMITED

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARA 
SHTRA, INDIA

C56591456

2

10520351

28/08/2014

300,000,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA

C20994406

3

10518598

23/08/2014

225,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL 
(WEST), MUMBAI - 400013, MAHARASHTRA, INDIA

C19614627

4

10471898

24/12/2013

400,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH, AXIS HOUSE, GROUND FLOOR 
, BOMBAY DYEING MILLS COMPOUND, P.P. ROAD, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA

B94136363

5

10470911

21/01/2014 *

500,000,000.00

THE SOUTH INDIAN BANK LIMITED

S I B HOUSE MISSION QUARTERST B ROAD, THRISSUR - 680001, KERALA, INDIA

B96568795

6

10435287

28/06/2013

290,000,000.00

GE CAPITAL SERVICES INDIA

401, 402, 4TH FLOOR, AGGARWAL MILLENNIUM TOWER, E-1,2,3, NETAJI SUBHASH PLACE, WAZIRPUR, NEW DELHI - 110034, INDIA

B78943545

7

10426618

19/05/2014 *

250,000,000.00

DBS BANK LIMITED

3RD FLOOR, FORT HOUSE, DR. D N ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA

C03891058

8

10419663

29/03/2013

1,650,000,000.00

L & T FINANCE LIMITED

L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA , INDIA

B73176315

9

10356196

19/05/2012

500,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA

B39796107

10

10305379

18/08/2015 *

1,000,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA

C62062609

 

* Date of charge modification

 

 

REVIEW OF OPERATIONS AND OVERALL PERFORMANCE

 

During the year, the Revenue from Operations increased to Rs. 9493.801 Million as compared to Rs.6367.095 Million in the previous year registering a 49.11% increase. The Profit for the year is Rs.146.097 Million as compared to Rs. 79.463 million in previous year registering a 83.86 % increase.

 

In continuation of the strategy to focus on ATM and Payments business, the Company will continue to explore business opportunities both in India & abroad; the Company plans to adopt both organic and inorganic strategies to further grow itself. The Directors are optimistic about the performance for the year 2014-2015.

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

Claims Against the Company not acknowledged as debts

 

 

Tax matters in dispute under appeal

 

 

Service tax

0.475

0.475

Custom duties

0.000

311.358

Sales tax

9.296

9.296

Excise duty

5.156

5.156

Guarantees given on behalf of Subsidiary

183.706

50.000


FIXED ASSETS:

 

  • Land
  • Buildings
  • Plant and Equipment’s
  • Furniture and Fixture
  • Vehicles
  • Office Equipment’s
  • Other Equipment’s

 

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.66.32

UK Pound

1

Rs.98.99

Euro

1

Rs.72.13

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

 

62

 

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.