MIRA INFORM REPORT
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Report No. : |
331149 |
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Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENTWORKS INDIA PRIVATE LIMITED |
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Formerly Known
As : |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED (w.e.f. 06.01.2015) |
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Registered
Office : |
102-107, 1st Floor, Gateway Plaza, Hiranandani Gardens
Powai, Mumbai-400076, Maharashtra |
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Tel. No.: |
91-22-67616400 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.02.2001 |
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Com. Reg. No.: |
11-131029 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.035 Million |
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CIN No.: [Company Identification
No.] |
U71230MH2001PTC131029 |
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IEC No.: |
Information declined by the Management |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR10500A |
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PAN No.: [Permanent Account No.] |
AABCR8889C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the business of acquiring and dealing in the residuary interest
in assets that are subject to leasing transaction. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
It is an old established company incorporated during 2001 having a
good track record. Turnover and profits of the company has declined during FY 2014
however, general financial position of the company is sound. Balance sheet of
the company is totally debt free. Further, the rating also takes into consideration strong operational
and managerial support receives to the subject from its holding company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. In view of strong holding support and acceptable financial base, the
company can be considered normal 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
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No: 91-22-67616400
LOCATIONS
|
Registered Office : |
102-107, 1st Floor, Gateway Plaza, Hiranandani Gardens
Powai, Mumbai-400076, Maharashtra, India |
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Tel. No.: |
91-22-67616400/ 67616402/ 67616402 |
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Fax No.: |
91-22-66950590 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 24.06.2014
|
Name : |
Mr. Robert Warwick Medway |
|
Designation : |
Director |
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Address : |
Lot 8, 46 Lane Cove RD, Ingleside, Sydney, 2101, Australia |
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Date of Birth/Age : |
20.05.1967 |
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Date of Appointment : |
27.02.2001 |
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DIN No.: |
00715125 |
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Name : |
Mr. Alan Van Niekerk |
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Designation : |
Director |
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Address : |
102, Centennial Ave, Lane Cove, New South Wales, 2066,
Australia |
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Date of Birth/Age : |
27.02.2001 |
|
Qualification : |
Bachelor
of Economics, MBA |
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Experience : |
32
Years |
|
Date of Appointment : |
27.02.2001 |
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PAN No.: |
AFQPV3256A |
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DIN No.: |
01175495 |
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|
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Name : |
Mr. John Alan Kinghorn |
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Designation : |
Director |
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Address : |
41 Carrington Avenue, Mosman NSW, 2088, , Australia |
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Date of Birth/Age : |
03.06.1941 |
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Date of Appointment : |
06.08.2008 |
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DIN No.: |
02021451 |
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Name : |
Mr. Glenn Keith Goodall |
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Designation : |
Director |
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Address : |
Unit 101, 18 Ocean St, Narrabeen, NSW, 2101, Australia |
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Date of Birth/Age : |
14.05.1962 |
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Date of Appointment : |
27.02.2001 |
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DIN No.: |
02025978 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.06.2014
|
Names of Shareholders |
No. of Shares |
|
Rentworks Mauritius Limited, Mauritius |
403501 |
|
Financial Consulting Associates, Mauritius Jointly with Rentworks
Mauritius Limited, Mauritius |
1 |
|
Total |
403502 |
AS ON 24.06.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of acquiring and dealing in the residuary interest
in assets that are subject to leasing transaction. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
·
Indusind Bank Limited 2401
Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India ·
Axis Bank Limited Ground
Floor, Atlanta, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Financial Institution : |
L
and T Finance Limited, L
and T House, Ballard Estate, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
Chaturvedi
Anuradha Narendra Chartered Accountants |
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Address : |
206,
Eureka, Hiranandani Estate, Patlipada, Thane West, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAIPB5210D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding
Company : |
Rentworks Mauritius Limited, Mauritius |
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Enterprises
over which Key Management Personnel (KMP) and Relatives of such personnel
exercise significant influence : |
Thumdart
Pty. Limited, Australia |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
403502 |
Equity Shares |
Rs. 10/- each |
Rs. 4.035
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
4.035 |
4.128 |
4.428 |
|
(b) Reserves & Surplus |
542.919 |
839.844 |
968.483 |
|
(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) |
546.954 |
843.972 |
972.911 |
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(3)
Non-Current Liabilities |
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|
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|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1991.398 |
2249.445 |
2226.747 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1991.398 |
2249.445 |
2226.747 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b)
Trade payables |
1085.912 |
1075.434 |
1601.509 |
|
(c)
Other current liabilities |
610.286 |
400.997 |
612.965 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
1696.198 |
1476.431 |
2214.474 |
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|
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TOTAL |
4234.550 |
4569.848 |
5414.132 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
4.596 |
11.586 |
17.387 |
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(ii)
Intangible Assets |
0.115 |
0.634 |
1.166 |
|
(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 |
2860.568 |
3082.736 |
2513.856 |
|
(c) Deferred tax assets
(net) |
11.053 |
12.622 |
16.568 |
|
(d) Long-term Loan
and Advances |
14.401 |
36.695 |
37.922 |
|
(e)
Other Non-current assets |
0.000 |
12.711 |
9.756 |
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Total
Non-Current Assets |
2890.733 |
3156.984 |
2596.655 |
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(2) Current assets |
|
|
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(a)
Current investments |
0.000 |
2.525 |
2.525 |
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(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
99.657 |
166.104 |
388.936 |
|
(d)
Cash and cash equivalents |
847.995 |
955.720 |
1936.147 |
|
(e)
Short-term loans and advances |
19.986 |
28.281 |
49.395 |
|
(f)
Other current assets |
376.179 |
260.234 |
440.474 |
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Total
Current Assets |
1343.817 |
1412.864 |
2817.477 |
|
|
|
|
|
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TOTAL |
4234.550 |
4569.848 |
5414.132 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
TOTAL INCOME |
715.764 |
933.802 |
1494.324 |
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Less |
EXPENSES |
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TOTAL |
312.764 |
254.493 |
279.531 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
403.000 |
679.309 |
1214.793 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
12.527 |
7.552 |
10.920 |
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PROFIT BEFORE
TAX |
390.473 |
671.757 |
1203.873 |
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Less |
TAX |
126.492 |
238.449 |
401.765 |
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PROFIT AFTER TAX |
263.981 |
433.308 |
802.108 |
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Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
839.381 |
910.886 |
108.778 |
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Less |
APPROPRIATIONS |
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|
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Interim Dividend |
324.800 |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax on Interim Dividend |
55.199 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
180.999 |
504.813 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
542.364 |
839.381 |
910.886 |
|
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IMPORTS |
|
|
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Rented
Assets |
125.560 |
1337.633 |
1337.633 |
|
|
TOTAL IMPORTS |
125.560 |
1337.633 |
1337.633 |
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|
Earnings Per
Share (Rs.) |
654.18 |
1003.94 |
1811.63 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
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Cash Generated from Operations |
NA |
NA |
NA |
|
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|
|
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|
Net Cash Flow from (used in) Operations |
676.145 |
528.196 |
229.687 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.65 |
45.56 |
41.75 |
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.71 |
0.80 |
1.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
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|
Current Ratio (Current Asset/Current Liability) |
|
0.79 |
0.96 |
1.27 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.428 |
4.128 |
4.035 |
|
Reserves & Surplus |
968.483 |
839.844 |
542.919 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
972.911 |
843.972 |
546.954 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1494.324 |
933.802 |
715.764 |
|
|
|
(37.510) |
(23.349) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1494.324 |
933.802 |
715.764 |
|
Profit |
802.108 |
433.308 |
263.981 |
|
|
53.68% |
46.40% |
36.88% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
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|
Presentation Date:- 18/04/2015 |
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|
Lodging No:- |
ARBPL/743/2015 |
Filing Date:- |
18/04/2015 |
Reg. No.:- |
ARBP/807/2015 |
Reg. Date:- |
18/05/2015 |
|
Petitioner:- |
M/S. SIEMENS FINANCIAL SERVICES PVT.LTD |
Respondent:- |
RENTWORKS INDIA PVT. LTD.- |
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|
Petn.
Adv.: |
INDIALAW (606) |
Resp. Adv.:- |
SIDDHARTH MURARKA (416) |
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District:- |
MUMBAI |
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Bench:- |
SINGLE |
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Status:- |
Pre-Admission |
Category:- |
ARBITRATION ACT. |
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|
Next Date:- |
08/07/2015 |
Stage:- |
ARBP FOR HEARING AND FINAL DISPOSAL U/S 9 |
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|
Coram:- |
HON’BLE SHRI JUSTICE R.D. DHANUKA |
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|
Last Dtae:- |
11/06/2015 |
Stage:- |
ARBP FOR ADMISSION - FRESH |
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|
Last Coram:- |
HON’BLE SHRI JUSTICE R.D. DHANUKA |
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|
Act:- |
Arbitration and Conciliation Act 1961 |
Under Section:- |
9 |
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INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10536492 |
28/11/2014 |
5,367,383.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI- 400001, MAHARASHTRA, INDIA |
C36888097 |
|
2 |
10528956 |
30/10/2014 |
1,076,927.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI- 400001, MAHARASHTRA, INDIA |
C32161036 |
|
3 |
10520424 |
02/09/2014 |
1,001,776.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI- 400001, MAHARASHTRA, INDIA |
C21053822 |
|
4 |
10514811 |
12/08/2014 |
12,383,974.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI- 400001, MAHARASHTRA, INDIA |
C16367179 |
|
5 |
10515890 |
11/08/2014 |
6,722,122.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI- 400001, MAHARASHTRA, INDIA |
C17241142 |
|
6 |
10515889 |
31/07/2014 |
4,950,000.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI- 400001, MAHARASHTRA, INDIA |
C17239476 |
|
7 |
10514468 |
29/07/2014 |
20,228,552.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS
BHAWAN, 28, BARAKHAMBA ROAD, NEW DE |
C16128407 |
|
8 |
10514809 |
28/07/2014 |
308,832.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
C16366015 |
|
9 |
10513566 |
15/07/2014 |
1,891,818.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
C15474927 |
|
10 |
10514465 |
09/07/2014 |
34,421,096.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS
BHAWAN, 28, BARAKHAMBA ROAD, NEW DE |
C16127177 |
BACKGROUND
The Company was
incorporated on 27 February 2001. It is a 100% subsidiary of Rentworks
Mauritius Limited. The Company is engaged in the business of acquiring and
dealing in the residuary interest in assets that are the subject of leasing
transactions, referred to in these financial statements as Residuals.
OPERATIONS
The Company is engaged in
the business of acquiring and dealing in the residuary interest in assets that
are the subject of leasing transactions. During the year under review, the
total Income from Operations was Rs. 715.764 Million as against Rs. 933.802
Million in the previous year. The net profit of the Company was Rs. 263.981
Million as against Rs. 433.308 Million . The general market conditions and slow
down in the economy has adversely affected the company's results compared to
the previous year.
FIXED ASSETS:
Tangible Assets
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
Intangible 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. 63.37 |
|
|
1 |
Rs. 98.86 |
|
Euro |
1 |
Rs. 69.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
52 |
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.