MIRA INFORM REPORT
|
Report No. : |
303233 |
|
Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOFTTECH ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
The Pentagon Unit No 5A Near Satara Road, Telephone Exchange Shahu College
Road Parvati, Pune – 411009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
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|
|
Date of
Incorporation : |
17.06.1996 |
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|
|
|
Com. Reg. No.: |
11-016718 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.130 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30107PN1996PTC016718 |
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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.] |
AACCS3857L |
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|
|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Service provider of elearning software solutions. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relartions 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 = BB + |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
October 13, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
October 13, 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Aarchana Gupte |
|
Designation : |
Account Manager |
|
Contact No.: |
91-20-24217676 |
|
Date : |
13.01.2015 |
LOCATIONS
|
Registered Office : |
The Pentagon Unit No 5A Near Satara Road, Telephone Exchange Shahu
College Road Parvati, Pune – 411009, Maharashtra, India |
|
Tel. No.: |
91-20-24217676 / 24218747 |
|
Mobile No.: |
91-9372404408 (Mr. Pawan Kumar Gupte) |
|
Fax No.: |
91-20-24218746 / 24218747 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
1000 Sq.Ft. |
|
Location : |
Owned |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Rahul Gupta |
|
Designation : |
Director |
|
Address : |
House No.42, Sector-21 B, Faridabad-121001, Haryana, India |
|
Date of Birth/Age : |
14.03.1967 |
|
Qualification : |
B.E. (Mechanical) |
|
Date of Appointment : |
24.09.2010 |
|
DIN No.: |
00024732 |
|
|
|
|
Name : |
Mr. Babubhai Kanjibhai Patel |
|
Designation : |
Director |
|
Address : |
Design Point, Behind Hotel J B Varracha Road, Surat-395006, Gujarat,
India |
|
Date of Birth/Age : |
23.01.1967 |
|
Qualification : |
B.E. (Civil) |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01342839 |
|
|
|
|
Name : |
Mr. Vijay Gupta |
|
Designation : |
Director |
|
Address : |
B1-503, Gagan Vihar Housing Co-Operative Housing Society, Bibwewadi,
Pune-411037, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1962 |
|
Qualification : |
M. Tech (IIT) |
|
Date of Appointment : |
21.06.1996 |
|
DIN No.: |
01653314 |
|
|
|
|
Name : |
Ms. Priti Vijay Gupta |
|
Designation : |
Director |
|
Address : |
B1-503, Gagan Vihar Housing Co-Operative Housing Society, Bibwewadi,
Pune-411037, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1965 |
|
Qualification : |
B.Sc., MBA |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
01735673 |
|
|
|
|
Name : |
Mr. Girish B. Gupte |
|
Designation : |
Nominee Director |
|
Address : |
B 119 Hari Marg, Malviya Nagar, Jaipur – 302017, Rajasthan, India |
|
Date of Birth/Age : |
18.02.1957 |
|
Qualification : |
M. Tech (Computer Science) |
|
Date of Appointment : |
31.03.2014 |
|
DIN No.: |
00894066 |
KEY EXECUTIVES
|
Name : |
Ms. Aarchana Gupte |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Vijay Gupta |
1840617 |
|
Babubhai Kanjibhai Patel |
325152 |
|
Covisible Solutions (India) Private Limited, India |
149574 |
|
Priti Vijay Gupta |
16545 |
|
Devendra Tripathi |
65721 |
|
Dhrubajoyti Debchoudhury |
65721 |
|
Ajay Kumar Jatin |
118410 |
|
Rajasthan Trustee Company Private Limited A/C SME Tech Fund RVCF Trust
II |
883 |
|
Total |
2582623 |
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
Rajasthan Trustee Company Private Limited A/C SME Tech Fund RVCF Trust
II |
430434 |
|
Total |
430434 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.03 |
|
Directors or relatives of Directors |
84.50 |
|
Other top fifty shareholders |
15.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider of elearning software solutions. |
|
|
|
|
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 : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
P.G. Bhagwat Chartered Accountant |
|
Address : |
Suit 101-102, ‘Orchard’, Dr. Pai Marg, Baner, Pune - 411045,
Maharashtra, India |
|
PAN No.: |
AAAFB0762E |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
Softtech Software TR LLC |
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Joint Venture : |
Softtech Engineers (JV) |
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Enterprise over which key managerial personnel and their relatives
exercise significant influence : |
Covisible Solutions (India) Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2800000 |
Equity Shares |
Rs.10/-each |
Rs.28.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/-each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.38.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2582623 |
Equity Shares |
Rs.10/-each |
Rs.25.826
Millions |
|
430434 |
Preference Shares |
Rs.10/-each |
Rs.4.304
Millions |
|
|
Total |
|
Rs.30.130 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 |
30.131 |
24.966 |
24.966 |
|
(b) Reserves &
Surplus |
122.023 |
50.998 |
44.395 |
|
(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) |
152.153 |
75.964 |
69.361 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
96.856 |
81.094 |
54.174 |
|
(b) Deferred tax
liabilities (Net) |
2.969 |
2.754 |
2.395 |
|
(c) Other long term
liabilities |
0.051 |
0.151 |
0.151 |
|
(d) long-term provisions |
1.372 |
1.177 |
0.921 |
|
Total Non-current
Liabilities (3) |
101.248 |
85.176 |
57.641 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
23.322 |
10.715 |
20.191 |
|
(b) Trade payables |
30.394 |
13.467 |
29.915 |
|
(c) Other current
liabilities |
46.324 |
34.224 |
40.220 |
|
(d) Short-term provisions |
4.761 |
2.463 |
2.614 |
|
Total Current Liabilities
(4) |
104.802 |
60.869 |
92.940 |
|
|
|
|
|
|
TOTAL |
358.203 |
222.009 |
219.942 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
24.931 |
19.004 |
13.468 |
|
(ii) Intangible Assets |
41.403 |
38.184 |
34.884 |
|
(iii) Capital
work-in-progress |
8.846 |
13.894 |
0.000 |
|
(iv) Intangible assets
under development |
12.389 |
10.095 |
14.846 |
|
(b) Non-current
Investments |
3.245 |
3.245 |
3.245 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.065 |
8.554 |
8.305 |
|
(e) Other Non-current
assets |
14.627 |
0.922 |
0.000 |
|
Total Non-Current Assets |
111.506 |
93.898 |
74.748 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
159.257 |
91.746 |
102.530 |
|
(d) Cash and cash
equivalents |
53.323 |
11.346 |
28.759 |
|
(e) Short-term loans and
advances |
3.073 |
4.346 |
5.639 |
|
(f) Other current assets |
31.044 |
20.673 |
8.266 |
|
Total Current Assets |
246.697 |
128.111 |
145.194 |
|
|
|
|
|
|
TOTAL |
358.203 |
222.009 |
219.942 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
256.191 |
212.663 |
100.178 |
|
|
Other Income |
1.337 |
2.207 |
3.887 |
|
|
TOTAL |
257.528 |
214.870 |
104.065 |
|
|
|
|
|
|
|
Less |
EXPENSES |
227.438 |
203.158 |
82.886 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
30.090 |
11.712 |
21.179 |
|
|
|
|
|
|
|
Less |
TAX |
9.749 |
3.658 |
4.909 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
20.341 |
8.054 |
16.270 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
48.678 |
42.075 |
25.805 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
1.506 |
1.248 |
0.000 |
|
|
Dividend |
0.244 |
0.202 |
0.000 |
|
|
Total |
1.750 |
1.450 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
67.269 |
48.679 |
42.075 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
33.597 |
11.172 |
8.228 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
7.88 |
3.12 |
6.30 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
7.93
|
3.78 |
16.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.02 |
6.01 |
10.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.15 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.79 |
1.21 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35 |
2.10 |
1.56 |
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 |
24.966 |
24.966 |
30.130 |
|
Reserves & Surplus |
44.395 |
50.998 |
122.023 |
|
Net worth |
69.361 |
75.964 |
152.153 |
|
|
|
|
|
|
long-term borrowings |
54.174 |
81.094 |
96.856 |
|
Short term borrowings |
20.191 |
10.715 |
23.323 |
|
Total borrowings |
74.365 |
91.809 |
120.179 |
|
Debt/Equity ratio |
1.072 |
1.209 |
0.790 |
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 |
100.178 |
212.663 |
256.191 |
|
|
|
112.285 |
20.468 |
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 |
100.178 |
212.663 |
256.191 |
|
Profit |
16.270 |
8.054 |
20.341 |
|
|
16.24% |
3.79% |
7.94% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Saraswat Bank |
0.000 |
0.074 |
1.384 |
|
SIDBI |
6.220 |
6.220 |
6.220 |
|
TDB (Technology Development Bank) |
8.670 |
8.670 |
8.670 |
|
HDFC Bank Limited |
1.059 |
0.903 |
1.082 |
|
Total |
15.949 |
15.867 |
17.356 |
|
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 |
Yes |
|
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) |
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 |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10495804 |
20/03/2014 |
70,000,000.00 |
Axis Bank Limited |
Corporate Banking Branch,214-215,City Mall, Second Floor,Ganesh Khind Road, Pune, Maharashtra - 411007, INDIA |
C04791638 |
|
2 |
10390382 |
06/03/2013 * |
70,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
JEEVAN SHREE BUILDING, GROUND FLOOR, S. NO. 1109, PLOT NO. 488, GANESHKHIND ROAD, SHIVAJI NAGAR, PUNE, Maharashtra - 411016, INDIA |
B70024641 |
|
3 |
10206873 |
11/03/2010 |
39,000,000.00 |
TECHNOLOGY DEVELOPMENT BOARD |
WING A, GROUND FLOOR, VISHWAKARMA BHAVAN, SHAHEED JEET SINGH MARG,, NEW DELHI, Delhi - 110016, INDIA |
A81189144 |
|
4 |
10186752 |
19/11/2009 |
30,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
JEEVAN SHREE BUILDING GROUND FLOOR S NO 1109, PLOT NO 488, GANESH KHIND ROAD, SHIVAJINAGAR, PUNE, Maharashtra - 411005, INDIA |
A73570749 |
|
5 |
10132206 |
14/11/2008 |
3,700,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
TILAK ROAD BRANCH, PUNE, Maharashtra - 411030, INDIA |
A51718401 |
|
6 |
10101566 |
11/04/2008 |
1,300,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
TILAK ROAD BRANCH, Opp.House of Laptops,, Tilak Road, PUNE, Maharashtra - 411020, INDIA |
A37571320 |
|
7 |
10053367 |
24/12/2010 * |
10,000,000.00 |
Sarswat Co operative Bank Ltd. |
Tilak Road Branch, Pune, Maharashtra - 411002, INDIA |
B06105258 |
|
8 |
10050740 |
11/04/2008 * |
20,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
Tilak Road Branch,,
Opp. House of Laptops, PUNE, |
A37569654 |
|
9 |
10050741 |
21/04/2007 |
6,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
'Madhuban' 1st
floor 8/3 , Erandvana, Near Null S |
A15009343 |
|
10 |
10050739 |
21/04/2007 |
6,900,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
DAHANUKAR COLONY BRANCH, Indranagari Society,Opp., Cummins Ind. Ltd.,Dahanukar Colony, Kothrud, PUNE, Maharashtra - 411029, INDIA |
A15009145 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
a)Term Loans from
Banks |
|
|
|
I)HDFC Bank Limited (Term of Loan: Loan is borrowed in September 2012 and carries interest rate of 16% p.a. Loan is repayable in equated monthly installments of Rs.0.105 Millions from November 2012 to October 2015. |
0.700 |
1.760 |
|
b)Loan and Advances
from Related Parties |
|
|
|
Mr. Vijay Gupta – Managing Director |
12.939 |
12.938 |
|
Mrs. Priti Gupta – Director (These are interest free loans and do not have a repayment schedule) |
0.637 |
0.425 |
|
SHORT TERM
BORROWINGS |
|
|
|
a)Other loans and
advances from other parties |
|
|
|
IBM India Private Limited |
3.293 |
0.000 |
|
Total |
17.569 |
15.123 |
FIXED ASSETS
Tangible Assets
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
Intangilble Assets
- Computer
Software
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.61.75 |
|
|
1 |
Rs.94.01 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
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 |
|
45 |
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.