MIRA INFORM REPORT
|
Report No. : |
301467 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SILVER TOUCH TECHNOLOGIES LIMITED (w.e.f.13.10.2004) |
|
|
|
|
Formerly Known
As : |
SILVER TOUCH COMPUTER LIMITED (w.e.f.05.02.2004) SILVER TOUCH COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Saffron,
Near Panchwati Circle, Ambawadi, Ahmedabad – 380006, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.02.1995 |
|
|
|
|
Com. Reg. No.: |
04-024465 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 55.950 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ1995PLC024465 |
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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.] |
AACCS6474P |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in trading of computer parts and software
development. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating reflects company’s healthy financial risk profile marked by
comfortable capital structure and sound profitability margins of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March 10, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
March 10, 2014 |
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 DENIED
Management non cooperative (Tel No.: 91-79-26563158)
LOCATIONS
|
Registered/ Head Office : |
2nd Floor, Saffron,
Near Panchwati Circle, Ambawadi, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26563158/ 26408802 |
|
Fax No.: |
91-79-26561624 |
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E-Mail : |
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Regional Office : |
Located at:
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International Offices : |
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vipul Haridas Thakkar |
|
Designation : |
Managing Director |
|
Address : |
19, Netra Bunglow Near, Seema Saurabh Society, Memnagar Fie Station,
Memnagar, Ahmedabad – 380009, Gujarat, India |
|
Date of Birth/Age : |
21.09.1970 |
|
Qualification : |
B.E., MBA |
|
Date of Appointment : |
02.02.1995 |
|
PAN No.: |
ABVPT8027A |
|
DIN No.: |
00169558 |
|
|
|
|
Name : |
Mr. Jignesh Amritlal Patel |
|
Designation : |
Whole Time Director |
|
Address : |
5, Sadha Colony, Navjivan, Navrangpura, Ahmedabad – 380009, Gujarat,
India |
|
Date of Birth/Age : |
15.05.1971 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
02.02.1995 |
|
PAN No.: |
ABXPP2283Q |
|
DIN No.: |
00170562 |
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|
|
|
Name : |
Mr. Palak Vinubhai Shah |
|
Designation : |
Whole Time Director |
|
Address : |
29/1, Girdhar Nagar Society, Shahibaug, Ahmedabad – 380004, Gujarat,
India |
|
Date of Birth/Age : |
20.12.1970 |
|
Qualification : |
B.E. (Computer) |
|
Date of Appointment : |
06.10.2006 |
|
PAN No.: |
AFXPS5699R |
|
DIN No.: |
00306082 |
|
|
|
|
Name : |
Mr. Minesh Vinodchandra Doshi |
|
Designation : |
Whole Time Director |
|
Address : |
205, Kahan Kutir, Opposite Jain Temple, Liberty, Navarangpura, Ahmedabad
– 380009, Gujarat, India |
|
Date of Birth/Age : |
23.11.1970 |
|
Qualification : |
B.E. (Computer) |
|
Date of Appointment : |
06.10.2006 |
|
DIN No.: |
00306106 |
|
PAN No.: |
AEHPD1881M |
|
|
|
|
Name : |
Mr. Himanshu Jain |
|
Designation : |
Whole Time Director |
|
Address : |
32, Sukhdev, Vihar, New Delhi – 110025, Delhi, India |
|
Date of Birth/Age : |
10.05.1969 |
|
Qualification : |
Diploma (Eng.) |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
00454477 |
|
PAN No.: |
AALPJ3069K |
|
|
|
|
Name : |
Mr. Ronak Sudhirbhai Shah |
|
Designation : |
Director |
|
Address : |
B/3, Dipkuinj Flats, Opposite Purnanad Ashram, Navjivan Post,
Ahmedabad-380014, Gujarat, India |
|
Date of Birth/Age : |
05.10.1973 |
|
Qualification : |
ACS |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02292044 |
|
|
|
|
Name : |
Mr. Harivadan Prabhashankar Thakkar |
|
Designation : |
Independent Director |
|
Address : |
10, Vijayvihar Co-operative Housing Society Limited, St. Xavier Road, Navrangpura,
Ahmedabad-380009, Gujarat, India |
|
Date of Birth/Age : |
25.05.1952 |
|
Qualification : |
B.Com., LLB |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02466067 |
KEY EXECUTIVES
|
Name : |
Mr. Gautambhai Kalubhai Virhadiya |
|
Designation : |
Company Secretary |
|
Address : |
10, Vinayak Park Society, Behind Ambika Nagar, Near Vahera Viratnagar,
Manmohan Road, Odhav, Ahmendabad – 382415, Gujarat, India |
|
Date of Birth/Age : |
07.03.1985 |
|
Qualification : |
B.Com., LLB |
|
Date of Appointment : |
25.02.2013 |
|
PAN No.: |
AIEPV3925D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vipul Haridas Thakkar |
|
1818755 |
|
Jignesh Amritlal Patel |
|
1801855 |
|
Kajal Vipul Thakkar |
|
245100 |
|
Jolly Jignesh Patel |
|
262000 |
|
Haridas Karshandas Thakkar |
|
700 |
|
Amritlal Kalidas Patel |
|
350 |
|
Manjulaben Amritlal Patel |
|
350 |
|
Minesh Vinodchandra Doshi |
|
963290 |
|
Palak Vinubhai Shah |
|
392600 |
|
Varsha Minesh Doshi |
|
55000 |
|
Zankhana Palakbhai Shah |
|
55000 |
|
|
|
|
|
Total |
|
5595000 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading of computer parts and software
development. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
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 : |
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Facilities : |
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Auditors : |
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Name : |
Ambalal Patel and Company Chartered Accountant |
|
Address : |
1st Floor, Sapphire Business Center, Above SBI Vadaj
Branch, Usmanpura, Ashram Road, Ahmedabad – 380013, Gujarat, India |
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PAN No.: |
AABFA3490K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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Enterprise over which Key Management Personnel
and their relative excersie significant influence with whom transaction have taken place during the year : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,595,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 55.950
Millions |
|
|
|
|
|
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
55.950 |
55.950 |
55.950 |
|
(b) Reserves & Surplus |
282.874 |
226.576 |
184.412 |
|
(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) |
338.824 |
282.526 |
240.362 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
46.089 |
36.526 |
17.524 |
|
(b) Deferred tax liabilities (Net) |
18.241 |
10.799 |
7.740 |
|
(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) |
64.330 |
47.325 |
25.264 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
111.472 |
37.270 |
34.313 |
|
(b) Trade
payables |
125.631 |
92.570 |
94.653 |
|
(c) Other current
liabilities |
67.100 |
45.388 |
32.947 |
|
(d) Short-term
provisions |
60.673 |
39.927 |
23.916 |
|
Total Current
Liabilities (4) |
364.876 |
215.155 |
185.829 |
|
|
|
|
|
|
TOTAL |
768.030 |
545.006 |
451.455 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
198.343 |
141.899 |
105.017 |
|
(ii)
Intangible Assets |
3.190 |
3.270 |
3.886 |
|
(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 |
0.119 |
0.119 |
0.086 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
19.482 |
26.165 |
21.730 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
221.134 |
171.453 |
130.719 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
26.826 |
34.589 |
16.466 |
|
(c) Trade
receivables |
336.245 |
197.842 |
222.740 |
|
(d) Cash
and cash equivalents |
55.135 |
48.242 |
21.209 |
|
(e)
Short-term loans and advances |
128.690 |
92.880 |
60.321 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
546.896 |
373.553 |
320.736 |
|
|
|
|
|
|
TOTAL |
768.030 |
545.006 |
451.455 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1080.578 |
801.004 |
664.844 |
|
|
|
Other Income |
6.379 |
7.171 |
2.801 |
|
|
|
TOTAL (A) |
1086.957 |
808.175 |
667.645 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
490.644 |
444.183 |
396.763 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
7.762 |
(18.123) |
(1.756) |
|
|
|
Employees benefits expense |
219.936 |
177.378 |
149.626 |
|
|
|
Other expenses |
236.573 |
108.660 |
58.104 |
|
|
|
TOTAL (B) |
954.915 |
712.098 |
602.737 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
132.042 |
96.077 |
64.908 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
14.222 |
8.130 |
8.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.820 |
87.947 |
56.689 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.480 |
19.646 |
13.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
89.340 |
68.301 |
42.882 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.041 |
22.161 |
10.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
60.299 |
46.140 |
32.427 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Earnings on professional and consultation fees |
0.000 |
147.662 |
147.662 |
|
|
TOTAL EARNINGS |
0.000 |
147.662 |
147.662 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.78 |
8.25 |
5.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
5.58
|
5.76 |
4.87 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.22
|
11.99 |
9.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.63 |
12.53 |
9.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.24 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.47 |
0.26 |
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
1.74 |
1.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
55.950 |
55.950 |
55.950 |
|
Reserves & Surplus |
184.412 |
226.576 |
282.874 |
|
Net
worth |
240.362 |
282.526 |
338.824 |
|
|
|
|
|
|
long-term borrowings |
17.524 |
36.526 |
46.089 |
|
Short term borrowings |
34.313 |
37.270 |
111.472 |
|
Total
borrowings |
51.837 |
73.796 |
157.561 |
|
Debt/Equity
ratio |
0.216 |
0.261 |
0.465 |
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 |
664.844 |
801.004 |
1080.578 |
|
|
|
20.480 |
34.903 |
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 |
664.844 |
801.004 |
1080.578 |
|
Profit |
32.427 |
46.140 |
60.299 |
|
|
4.88% |
5.76% |
5.58% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs. In Millions)
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long term debt |
0.853 |
0.853 |
0.000 |
|
|
|
|
|
|
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 |
No |
|
10] |
Designation
of contact person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
REVIEW OF
OPERATIONS AND FUTURE PROSPECTS:
The Company has made
total income from business operations of Rs. 1080.577 Millions during the year
which shows magnificent revenue in various segments with growth of more than
35% as compared to previous financial year's income. The company has also
earned the net profit of Rs. 60.299 Millions, which is phenomenal in terms of
percentage viz., 31% higher than the Last year in view of the cost control
measures and reduction in finance cost. The Company is expanding its area of
sales in international markets and segments with innovative products and
software in order to explore and gain both in monetary terms at international
levels and in terms of untapped market for company's services. The Company has
also focused in the Areas of EGovernance and The Company has also been empanelled
with Unique Identification Authority of India (UIDAI). The Focus on the
Business of e-Governance shall give the Company a new height. It is the only
Company in Gujarat with such candidature. The Company has also been credited
with CMMI Level 5 which is of highest of caliber in the field of IT and Related
Services. During the year the Company is quite confident to generate more
business from the Segment of Government Customer Base.
BACKGROUND
The company's Business Segment is Computers and IT Services' and it has no other primary reportable segments. Geographical revenues are segregated based on the location of the customer who is invoiced or in relation to which the revenue is otherwise recognized. Customer relationships are driven based on the location of the respective clients. Company's business activities outside India are spread mainly in United Kingdom, USA, Australia, France and The Netherlands. Hence, there are two reportable segment of company viz., Domestic and Exports.
CONTIGENT LIABILITIES
|
Bank Guarantee |
31.03.2014 |
31.03.2013 |
|
Bank of India |
77.425 |
50.582 |
|
ICICI Bank |
9.628 |
5.258 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10527697 |
01/10/2014 |
340,000,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL, ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C31109697 |
|
2 |
10507736 |
03/07/2014 |
4,348,990.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2nd Floor, Brigade
South Parade, 10, M.G. Road, Karnataka - 560001, INDIA |
C10316602 |
|
3 |
10493297 |
19/05/2014 |
7,069,999.00 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
2nd Floor, Brigade South
Parade, 10, M.G. Road, Karnataka - 560001, INDIA |
C04234043 |
|
4 |
10403512 |
18/01/2013 |
198,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
B68323187 |
|
5 |
10396682 |
28/12/2012 |
735,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
B65782294 |
|
6 |
10244038 |
09/07/2014 * |
15,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C14683106 |
|
7 |
10244035 |
14/12/2011 * |
20,500,000.00 |
ICICI BANK LIMITED |
J M C HOUSE BRANCH, AHMEDABAD, Gujarat - 380006, INDIA |
B31536253 |
|
8 |
10244039 |
28/09/2010 |
5,000,000.00 |
ICICI BANK LIMITED |
JMC HOUSE, NR. PARIMAL GARDEN, AHMEDABAD, Gujarat- 380006, INDIA |
A95641957 |
|
9 |
10041956 |
01/10/2014 * |
340,000,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPPOSITE TOWN HALL, ELLISBRIDGEA Gujarat - 380006, INDIA |
C31109424 |
|
10 |
10041957 |
01/10/2014 * |
340,000,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, OPPOSITE TOWN HALL, ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C31109218 |
* Date of charge
modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from others |
33.063 |
23.257 |
|
Loans and advances from related parties |
10.575 |
10.341 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
1.041 |
0.189 |
|
Total |
44.679 |
33.787 |
FIXED ASSETS
- Buildings
- Plant and
Equipment
- Furniture and
Fixture
- Vehicles
- Office
Equipment
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. 63.38 |
|
|
1 |
Rs. 96.85 |
|
Euro |
1 |
Rs. 75.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.