MIRA INFORM REPORT
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Report No. : |
304416 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITMANTRA TECHINTELLECT PRIVATE LIMITED (w.e.f. 17.01.2008) |
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Formerly Known
As : |
ITMANTRA CONSULTANCY PRIVATE LIMITED |
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Registered
Office : |
Unit No.815, 8th
Floor, Hubtown Viva, Western Express Highway, Jogeshwari (East), Mumbai – 400
060, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
10.08.2000 |
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Com. Reg. No.: |
11-128191 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 millions |
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CIN No.: [Company Identification
No.] |
U72100MH2000PTC128191 |
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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.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Distributor of Computer Peripherals. |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 38000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having moderate track. Management has
failed to file latest financials of FY 14, with the Statutory Authorities. Ms. Elsy, from
accounts department provided general details and denied to disclose financial
information of the subject to us. However, trade
relations seem to be fair. Business is active. Payment terms are unknown. In view of lack
of latest financial statements, the company can be considered for business
dealings with 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 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Elsy |
|
Designation : |
Account Department |
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Contact No.: |
91-22-67090000 |
|
Date : |
20.01.2015 |
LOCATIONS
|
Registered Office : |
Unit No.815, 8th
Floor, Hubtown Viva, Western Express Highway, Jogeshwari (East), Mumbai – 400
060, Maharashtra, India |
|
Tel. No.: |
91-22-67090000 |
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Fax No.: |
91-22-67090002 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Mr. Shailesh Narayan Trivedi |
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Designation : |
Managing Director |
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Address : |
3/8, Nathu Patel Chawl, Dhanji Wadi, |
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Date of Appointment : |
10.08.2000 |
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PAN No.: |
AADPT6300R |
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DIN No.: |
01576654 |
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Name : |
Mrs. Shweta Naresh Murdeshwar |
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Designation : |
Director |
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Address : |
701/A, Kartikeya Charkop CHS Limited, Plot No.16, Charkop, Sector 8,
Kandivali (West), Mumbai - 400 067, |
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Date of Birth/Age : |
11.07.1982 |
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Date of Appointment : |
26.06.2007 |
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PAN No.: |
ALUPM2886K |
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DIN No.: |
01576737 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shailesh Narayan Trivedi |
249800 |
99.92 |
|
Nitin Shashikant Mehta |
100 |
0.04 |
|
Shweta Naresh Murdeshwar |
100 |
0.04 |
|
Total |
250000 |
100.00 |
AS ON 24.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.90 |
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Other
top fifty shareholders |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Computer Peripherals. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS –
NOT APPLICABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1 : |
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Name : |
N.G.S. and Company Chartered Accountants |
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Auditors 2 : |
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Name : |
Ashok Trivedi and Company Chartered Accountants |
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Address : |
5/24, Malhar Rao Wadi, Dady |
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Mobile No. : |
91-9821096132 |
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E-Mail : |
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PAN
No.: |
AAAPT1961H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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|
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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 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.500 |
2.500 |
1.000 |
|
(b) Reserves & Surplus |
10.692 |
8.805 |
6.843 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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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) |
13.192 |
11.305 |
7.843 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
1.048 |
1.043 |
0.109 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
1.048 |
1.043 |
0.109 |
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(4)
Current Liabilities |
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|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
6.105 |
18.670 |
9.788 |
|
(c) Other
current liabilities |
4.556 |
6.536 |
1.256 |
|
(d) Short-term
provisions |
1.911 |
0.986 |
0.825 |
|
Total Current
Liabilities (4) |
12.572 |
26.192 |
11.869 |
|
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|
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TOTAL |
26.812 |
38.540 |
19.821 |
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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 |
3.183 |
2.868 |
1.390 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.336 |
0.388 |
0.447 |
|
(d) Long-term Loan and Advances |
10.420 |
4.813 |
3.150 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
13.939 |
8.069 |
4.987 |
|
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|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.978 |
1.552 |
1.216 |
|
(c) Trade
receivables |
3.203 |
26.138 |
11.596 |
|
(d) Cash
and cash equivalents |
5.465 |
2.546 |
0.672 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.227 |
0.235 |
1.350 |
|
Total
Current Assets |
12.873 |
30.471 |
14.834 |
|
|
|
|
|
|
TOTAL |
26.812 |
38.540 |
19.821 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
113.114 |
89.598 |
|
|
|
Other Income |
|
0.312 |
0.257 |
|
|
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TOTAL |
92.352 |
113.426 |
89.855 |
|
|
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Less |
EXPENSES |
|
|
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|
|
|
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TOTAL |
89.554 |
110.420 |
87.224 |
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PROFIT/
(LOSS) BEFORE TAX |
2.798 |
3.006 |
2.631 |
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|
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|
Less |
TAX |
0.911 |
1.045 |
0.850 |
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PROFIT/
(LOSS) AFTER TAX |
1.887 |
1.961 |
1.781 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.804 |
6.843 |
5.062 |
|
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|
|
BALANCE CARRIED
TO THE B/S |
10.691 |
8.804 |
6.843 |
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|
|
Earnings /
(Loss) Per Share (Rs.) |
7.55 |
7.84 |
17.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
1.73 |
1.99 |
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.57 |
7.88 |
13.58 |
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.27 |
0.34 |
|
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|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08 |
0.09 |
0.01 |
|
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|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.16 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
1.000 |
2.500 |
2.500 |
|
Reserves & Surplus |
6.843 |
8.805 |
10.692 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
7.843 |
11.305 |
13.192 |
|
|
|
|
|
|
Long Term borrowings |
0.109 |
1.043 |
1.048 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.109 |
1.043 |
1.048 |
|
Debt/Equity ratio |
0.014 |
0.092 |
0.079 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
89.855 |
113.426 |
92.352 |
|
|
|
26.232 |
(18.580) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
89.855 |
113.426 |
92.352 |
|
Profit |
1.781 |
1.961 |
1.887 |
|
|
1.98% |
1.73% |
2.04% |
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 |
No |
|
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 |
No |
|
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 |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
From other parties |
0.504 |
0.000 |
|
Total |
0.504 |
0.000 |
INDEX OF CHARGES
No Charges Exist for Company
OPERATIONS
The Company has achieved
a Sales Turnover of Rs.92.352 millions as compared to Rs.113.426 millions in
previous year. The Company has made a Net Profit after Tax of Rs.1.887 millions
as compared to Rs.1.961 millions in previous year.
FUTURE PROSPECTS
Due to
recessionary outlook in the world market, multinational corporations are
actively considering FMS from the Company. They expect good amount of business
going forward from FMS services. The company has potential to grow healthy and
has competitive advantage due to healthy financials completely debt free
operational capability. The Company has the ability to add many more MNCs
Customers due to current prestigious clientele and excellent service track
record and goodwill.
FIXED ASSETS:
·
Computer
and Peripherals
·
Air Conditioners
·
Fan
·
Mobile
Phone Instrument
·
Television
Set and Refrigerator
·
Furniture
and Fixtures
·
Motor
Car
·
Office
Equipments
·
Scooter
·
Microwave
Oven
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 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.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
28 |
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.