MIRA INFORM REPORT
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Report No. : |
308539 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXODUS INFORMATION TECHNOLOGY PRIVATE LIMITED |
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Registered
Office : |
717-718, 7th Floor Damji Shamji Business Galleria, Near Toyo Engg.
House, L.B.S. Marg, Kanjurmarg (West), Mumbai – 400078, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.05.2008 |
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Com. Reg. No.: |
11-181959 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.500 Millions |
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CIN No.: [Company Identification
No.] |
U72200MH2008ULT181959 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUME07392A |
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PAN No.: [Permanent Account No.] |
AABCE9768M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Audio-Visual Solutions. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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. Profitability of the company is fair. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered 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
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Tushar Nalawade |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-67790241 |
|
Date : |
18.02.2015 |
LOCATIONS
|
Registered Office : |
717-718, 7th Floor Damji Shamji Business Galleria, Near Toyo Engg.
House, L.B.S. Marg, Kanjurmarg (West), Mumbai – 400078, Maharashtra, India |
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Tel. No.: |
91-22-25777598/ 67790241 |
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Fax No.: |
91-22-25163818 |
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E-Mail : |
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Website : |
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Pune Office : |
Office No. 5, 2nd Floor, Gangadhar Chambers, Lakshmi Road, 314 Narayan Peth, Pune – 411030, Maharashtra, India |
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Tel. No.: |
91-20-24434790/ 30287047 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Sebastian Ignatius Dsouza |
|
Designation : |
Director |
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Address : |
403, A Wing, Crystal Palace, Ram Baug, Powai, Mumbai - 400076, Maharashtra, India |
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Date of Birth/Age : |
12.03.1944 |
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Date of Appointment : |
06.05.2008 |
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DIN No.: |
02059346 |
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|
Name : |
Zita Sebastian Dsouza |
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Designation : |
Director |
|
Address : |
403, A Wing, Crystal Palace, Ram Baug, Powai, Mumbai - 400076, Maharashtra, India |
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Date of Birth/Age : |
10.10.1946 |
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Date of Appointment : |
06.05.2008 |
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DIN No.: |
02059370 |
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Name : |
Timothy Sebastian Dsouza |
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Designation : |
Director |
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Address : |
403, A Wing, Crystal Palace, Ram Baug, Powai, Mumbai - 400076, Maharashtra, India |
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Date of Birth/Age : |
03.09.1974 |
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Date of Appointment : |
06.05.2008 |
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DIN No.: |
02059390 |
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Name : |
Lima Adrian Dsouza |
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Designation : |
Director |
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Address : |
403, A Wing, Crystal Palace, Ram Baug, Powai, Mumbai - 400076, Maharashtra, India |
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Date of Birth/Age : |
30.08.1980 |
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Date of Appointment : |
06.05.2008 |
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DIN No.: |
05303848 |
KEY EXECUTIVES
|
Name : |
Mr. Tushar Nalawade |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Timothy Sebastian Dsouza |
45000 |
30.00 |
|
Sebastian Ignatius Dsouza |
30000 |
20.00 |
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Zita Sebastian Dsouza |
30000 |
20.00 |
|
Lima Adrian Dsouza |
45000 |
30.00 |
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Total |
150000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Audio-Visual Solutions. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Axis Bank Limited Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · State Bank of India MIDC Andheri East Branch, MIDC Industrial Area, Andheri (East), Mumbai - 400093, Maharashtra, India · Citizen Credit Co-Operative Bank Limited Kurla Branch, Sai Dham Cooperative Housing Society Limited, Premier Road, Kurla (West), Mumbai - 400070, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Samir Bhagat and Company Chartered Accountants |
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Address : |
D-311, Mathura Bhavan, D. S. Phalke Road, Dadar (East), Mumbai –
400014, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ABVPB7436K |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
1.500 |
1.500 |
1.500 |
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(b) Reserves & Surplus |
8.001 |
5.725 |
3.068 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
9.501 |
7.225 |
4.568 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
0.508 |
0.370 |
0.501 |
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(b) Deferred tax liabilities (Net) |
0.091 |
0.047 |
0.035 |
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(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
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(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
0.599 |
0.417 |
0.536 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
9.795 |
9.453 |
5.745 |
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(b)
Trade payables |
26.433 |
21.356 |
11.508 |
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(c)
Other current liabilities |
4.908 |
5.806 |
2.301 |
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(d)
Short-term provisions |
0.000 |
0.307 |
0.086 |
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Total
Current Liabilities (4) |
41.136 |
36.922 |
19.640 |
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TOTAL |
51.236 |
44.564 |
24.744 |
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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 |
4.536 |
1.276 |
1.164 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan
and Advances |
0.080 |
0.113 |
0.062 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
4.616 |
1.389 |
1.226 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
15.085 |
16.843 |
5.300 |
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(c)
Trade receivables |
28.643 |
24.247 |
16.598 |
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(d)
Cash and cash equivalents |
0.626 |
0.925 |
0.825 |
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(e)
Short-term loans and advances |
2.266 |
1.144 |
0.777 |
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(f)
Other current assets |
0.000 |
0.016 |
0.018 |
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Total
Current Assets |
46.620 |
43.175 |
23.518 |
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|
|
|
|
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TOTAL |
51.236 |
44.564 |
24.744 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
SALES |
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|
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Revenue from Operations |
136.169 |
126.072 |
77.540 |
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Other Income |
2.147 |
3.063 |
1.344 |
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TOTAL (A) |
138.316 |
129.135 |
78.884 |
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Less |
EXPENSES |
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Cost of Materials Consumed |
115.170 |
109.362 |
67.078 |
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Employees benefits expense |
9.593 |
7.301 |
4.201 |
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Other expenses |
8.353 |
7.049 |
4.848 |
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TOTAL (B) |
133.116 |
123.712 |
76.127 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.200 |
5.423 |
2.757 |
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Less |
FINANCIAL
EXPENSES (D) |
1.362 |
1.117 |
1.017 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.838 |
4.306 |
1.740 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.508 |
0.386 |
0.181 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.330 |
3.920 |
1.559 |
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Less |
TAX (H) |
1.053 |
1.264 |
0.498 |
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|
PROFIT AFTER TAX
(G-H) (I) |
2.277 |
2.656 |
1.061 |
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|
Earnings Per
Share (Rs.) |
15.18 |
17.71 |
7.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.67 |
2.11 |
1.37 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
3.82 |
4.30 |
3.56 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.50 |
8.80 |
6.30 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.54 |
0.34 |
|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
1.08 |
1.36 |
1.37 |
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.17 |
1.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
3.068 |
5.725 |
8.001 |
|
Net
worth |
4.568 |
7.225 |
9.501 |
|
|
|
|
|
|
Long-term borrowings |
0.501 |
0.370 |
0.508 |
|
Short term borrowings |
5.745 |
9.453 |
9.795 |
|
Total
borrowings |
6.246 |
9.823 |
10.303 |
|
Debt/Equity ratio |
1.367 |
1.360 |
1.084 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
77.540 |
126.072 |
136.169 |
|
|
|
62.590 |
8.009 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
77.540 |
126.072 |
136.169 |
|
Profit |
1.061 |
2.656 |
2.277 |
|
|
1.37% |
2.11% |
1.67% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10441491 |
26/07/2013 |
325,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B81442519 |
|
2 |
10379158 |
02/07/2014 * |
15,000,000.00 |
CITIZEN CREDIT CO-OPERATIVE BANK LIMITED KURLA BRANCH |
SAI DHAM CO-OP. HSG. SOC. LTD., PREMIER ROAD, KURLA (W), MUMBAI, MAHARASHTRA - 400070, INDIA |
C12317947 |
|
3 |
10331305 |
30/12/2011 |
514,000.00 |
STATE BANK OF INDIA |
MIDC, ANDHERI (EAST) BRANCH,, PLOT NO. B-1, CENTRAL ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA |
B30407779 |
|
4 |
10142809 |
12/10/2010 * |
8,500,000.00 |
STATE BANK OF INDIA |
MIDC ANDHERI EAST
BRANCH, MIDC INDUSTRIAL AREA, |
A97908388 |
* Date of charge modification
FIXED ASSETS:
· Air Condition
· Computer and Software
· Drill Machine
· Furniture
· Mobile Phone
· Office Equipments
· Phone Instrument
·
Printer
·
Vehicles
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. 62.25 |
|
|
1 |
Rs. 95.57 |
|
Euro |
1 |
Rs. 71.01 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUM |
|
|
|
|
Analysis Done by
: |
PRT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.