MIRA INFORM REPORT
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Report No. : |
303255 |
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Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MECTRON DENTAL INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot No. 48-A2 of Doddaballapura Industrial Area, Yellupura Hobli, Doddaballapura – 561203, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.12.2004 |
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Com. Reg. No.: |
08-035203 |
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Capital Investment
/ Paid-up Capital : |
Rs. 38.744 Millions |
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CIN No.: [Company Identification
No.] |
U33112KA2004PTC035203 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Importer of Dental Equipments. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2014. As per available financial of 2013, the rating is constrained on
account of company’s moderate operations risk profile marked by thin
profitability margins and declining in top line growth of the company. However, trade relations are
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Rishin Shahu |
|
Designation : |
Account Manager |
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Contact No.: |
91-80-27630153 |
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Date : |
13.01.2015 |
LOCATIONS
|
Registered Office/Head Office/Warehouse : |
Plot No. 48-A2 of Doddaballapura Industrial Area, Yellupura Hobli, Doddaballapura – 561203, Karnataka, India |
|
Tel. No.: |
91-80-27630153/0077/78 |
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Mobile No.: |
91-9331704269 (Mr. Rishin Shahu) |
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Fax No.: |
91-8119302000 |
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E-Mail : |
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Website : |
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Branch Office 1: |
302, Sector – 22, Turbhe, Navi Mumbai – 400705, Maharashtra, India |
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Tel. No.: |
91-22-27831537/38 |
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E-Mail : |
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Branch Office 2: |
D – 154, 1st Floor, Fatech Nagar, Jail Road, Tilak Nagar,
New Delhi – 110018, India |
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Tel. No.: |
91-11-40687284/65178619 |
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E-Mail : |
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Branch Office 3: |
39/5, Broad Street, Police Station – Karya, Kolkata – 700019, West
Bengal, India |
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Tel. No.: |
91-33-40709006 |
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E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Raghavan Radhakrishan An Pillai |
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Designation : |
Managing director |
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Address : |
No.169, K.K. Halli, St Thomas Town, Bangalore – 560084, Karnataka, India |
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Date of Appointment : |
05.12.2005 |
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DIN No.: |
01643700 |
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Name : |
Mr. Renato Bocchini |
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Designation : |
Director |
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Address : |
142, INT 10, Corso Dante, Chivari, Italy |
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Date of Appointment : |
01.11.2006 |
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DIN No.: |
02497556 |
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Name : |
Mr. Wolf Heinrich Narjes |
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Designation : |
Director |
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Address : |
Ginsterweg 18, D-15427, Bergisch Glad Back, Germany |
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Date of Appointment : |
09.12.2004 |
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DIN No.: |
02500060 |
KEY EXECUTIVES
|
Name : |
Mr. Rishin Shahu |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Mectron Spa |
343410 |
88.63 |
|
R. Radha Krishnan |
5871 |
1.52 |
|
Wolf Heinrich Narjes |
38159 |
9.85 |
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Total |
387440 |
100.00 |
%20PRIVATE%20LIMITED%20-%20303255%2014-Jan-2015_files/image013.gif)
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
88.63 |
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Directors or relatives of Directors |
11.37 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Dental Equipments. |
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Products : |
Dental Equipments. |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Dental Equipment |
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Countries : |
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Imports : |
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Products : |
Dental Equipment |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Gunasheela and Associates Chartered Accountants |
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Address : |
Old No.140'B' New No.18.19.19/1, 3rd Floor, 9th Floor, Malleshwaram, Bangalore – 560003, Karnataka, India |
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Tel. No.: |
91-80-42067082 |
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Fax No.: |
91-80-42199185 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACKPG6959Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
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Other related parties where common control Exists |
Mectron SPA – Italy |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
387440 |
Equity Shares |
Rs.100/- each |
Rs. 38.744
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
38.744 |
38.744 |
38.744 |
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(b) Reserves & Surplus |
35.628 |
34.414 |
32.511 |
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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) |
74.372 |
73.158 |
71.255 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
15.799 |
16.516 |
15.826 |
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(b) Deferred tax liabilities (Net) |
4.035 |
3.332 |
2.494 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.403 |
1.814 |
1.864 |
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Total Non-current
Liabilities (3) |
22.237 |
21.662 |
20.184 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
82.783 |
75.698 |
41.316 |
|
(c) Other current
liabilities |
5.700 |
6.760 |
3.722 |
|
(d) Short-term
provisions |
9.018 |
8.076 |
23.593 |
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Total Current
Liabilities (4) |
97.501 |
90.534 |
68.631 |
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TOTAL |
194.110 |
185.354 |
160.070 |
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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 |
55.143 |
52.343 |
52.988 |
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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 |
|
(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 |
5.271 |
2.887 |
11.926 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.020 |
|
Total Non-Current
Assets |
60.414 |
55.230 |
64.934 |
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
98.179 |
76.004 |
62.871 |
|
(c) Trade
receivables |
25.035 |
38.953 |
29.186 |
|
(d) Cash
and cash equivalents |
10.050 |
12.396 |
1.698 |
|
(e)
Short-term loans and advances |
0.047 |
2.483 |
0.818 |
|
(f) Other
current assets |
0.385 |
0.288 |
0.563 |
|
Total
Current Assets |
133.696 |
130.124 |
95.136 |
|
|
|
|
|
|
TOTAL |
194.110 |
185.354 |
160.070 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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|
SALES |
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TOTAL INCOME |
152.484 |
184.885 |
157.392 |
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EXPENSES |
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TOTAL |
149.582 |
181.985 |
147.053 |
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PROFIT BEFORE
TAX |
2.902 |
2.900 |
10.339 |
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|
TAX |
0.596 |
0.159 |
3.080 |
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PROFIT AFTER TAX
|
1.213 |
1.903 |
7.259 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.414 |
7.511 |
0.252 |
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|
BALANCE CARRIED
TO THE B/S |
10.627 |
9.414 |
7.511 |
|
|
|
|
|
4.91 |
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|
Earnings Per
Share (Rs.) |
3.13 |
5.00 |
18.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.50 |
1.56 |
6.46 |
|
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.04 |
0.15 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21 |
0.23 |
0.22 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.44 |
1.39 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
38.744 |
38.744 |
38.744 |
|
Reserves & Surplus |
32.511 |
34.414 |
35.628 |
|
Net worth |
71.255 |
73.158 |
74.372 |
|
|
|
|
|
|
long-term borrowings |
15.826 |
16.516 |
15.799 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
15.826 |
16.516 |
15.799 |
|
Debt/Equity ratio |
0.222 |
0.226 |
0.212 |
%20PRIVATE%20LIMITED%20-%20303255%2014-Jan-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
157.392 |
184.885 |
152.484 |
|
|
|
17.468 |
(17.525) |
%20PRIVATE%20LIMITED%20-%20303255%2014-Jan-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
157.392 |
184.885 |
152.484 |
|
Profit |
7.259 |
1.903 |
1.213 |
|
|
4.61% |
1.03% |
0.80% |
%20PRIVATE%20LIMITED%20-%20303255%2014-Jan-2015_files/image019.gif)
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
OPERATIONS:
The above mentioned figures are self-explanatory. The directors a continuously trying to improve the performance of the company.
INDEX PF CHAGRES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10399484 |
17/01/2013 |
727,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE,
LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT-380006, INDIA |
B66645128 |
|
2 |
10089384 |
20/02/2014 * |
78,500,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 'EXPRESS
BUILDING', 2ND FLOOR, NO. 1, QUEEN'S ROAD, BANGALORE, KARNATAKA |
C03052743 |
FIXED ASSETS:
- Air Condition
- Aluminium Equipments
- Canon LCD Projector
- CC TV
- Computer
- Machine
- Digital Still Camera
- Electrical Equipment
- Building
- Land
- Locker
- Mobile Phone
- Vehicle
- Furniture and Fixture
- Office Equipments
- Printer
- Computer Equipments
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 records 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 records 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.62.10 |
|
|
1 |
Rs.94.09 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.