MIRA INFORM REPORT
|
Report No. : |
332693 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
BYTESCALE TECHNOLOGIES PRIVATE LIMITED (W.E.F.28.05.2010) |
|
|
|
|
Formerly Known
As : |
JAY KUSHAL EXPORTS PRIVATE LIMITED |
|
|
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Registered
Office : |
HI Life Mall, Unit No. 13, 3rd Floor, P M Road, Santacruz (West),
Mumbai – 400054, Maharashtra |
|
Tel. No.: |
91-9619003344 (Mr. Amit Mehta) |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
Date of Incorporation
: |
13.10.1980 |
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|
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|
Com. Reg. No.: |
11-023274 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 4.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100MH1980PTC023274 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ06268D |
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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
: |
The Company is engaged in the retail sale of Business Electronic Items
like that of computer with applicable software’s monitors, keyboards,
printers along with other accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1980 and it is engaged in the
retail sale of business electronic items of computer with applicable software’s
monitors, keyboards, printers along with other accessories. It is company
having satisfactory track record. For the financial year ended 2014, company possesses healthy
operational risk profile and it has achieved sales turnover of Rs.327.899 Million
with profit of Rs.19.553 Million as compared to previous turnover (2013) of
Rs.120.070 Million along with a profit of Rs.5.241 Million. Company has reported decent topline growth and it has maintained
profitability margins at 5.96%. Rating takes into consideration company’s sound financial risk profile
marked by adequate networth base and favorable gap between trade payables to
its receivables. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of healthy operational profile along with sound financial
base, 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.
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 DENIED BY
|
Name : |
Mr. Amit Mehta |
|
Designation : |
Group Manager |
|
Contact No.: |
91-9619003344 |
|
Date : |
17.07.2015 |
LOCATIONS
|
Registered Office : |
HI Life Mall, Unit No. 13, 3rd Floor, P M Road, Santacruz (West),
Mumbai – 400054, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9619003344 (Mr. Amit Mehta) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 06.09.2014
|
Name : |
Ms. Rekha Jayendra Shah |
|
Designation : |
Chairman and Managing Director |
|
Address : |
203, Madhavkunj, South Pond Road, Vile Parle (West), Mumbai – 400056,
Maharashtra,
India |
|
Date of Birth/Age : |
12.09.1953 |
|
Date of Appointment : |
13.10.1980 |
|
DIN No.: |
02099122 |
|
|
|
|
Name : |
Mr. Kushal Jayendra Shah |
|
Designation : |
Whole-time director |
|
Address : |
203, Madhavkunj, South Pond Road, Vile Parle (West), Mumbai – 400056,
Maharashtra,
India |
|
Date of Birth/Age : |
01.05.1979 |
|
Date of Appointment : |
15.10.1997 |
|
DIN No.: |
01162600 |
|
|
|
|
Name : |
Kinjal Kushal Shah |
|
Designation : |
Additional Director |
|
Address : |
202, Silicon Valley, J .K. Mehta Road, Santacruz West, Mumbai, 400054, Maharashtra, India |
|
Date of Appointment : |
10.04.2015 |
|
DIN No.: |
07153743 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Mehta |
|
Designation : |
Group Manager |
MAJOR SHAREHOLDERS
As on 06.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Rekha Jayendra Shah |
8000 |
20.00 |
|
Kushal Jayendra Shah |
32000 |
80.00 |
|
Total |
40000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 06.09.2014
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the retail sale of Business Electronic Items
like that of computer with applicable software’s monitors, keyboards,
printers along with other accessories. |
|
|
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
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 : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Vora and Associates Chartered Accountants |
|
Address : |
101- 103, Rewa Chambers, 31, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
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PAN No.: |
AACFV6555H |
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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 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000
Million |
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.000 |
4.000 |
1.000 |
|
(b) Reserves & Surplus |
56.804 |
37.715 |
35.938 |
|
(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) |
60.804 |
41.715 |
36.938 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.057 |
0.062 |
0.039 |
|
(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) |
0.057 |
0.062 |
0.039 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
35.890 |
13.703 |
7.299 |
|
(b)
Trade payables |
21.111 |
8.295 |
7.516 |
|
(c)
Other current liabilities |
20.742 |
3.196 |
10.133 |
|
(d)
Short-term provisions |
1.140 |
0.518 |
0.116 |
|
Total
Current Liabilities (4) |
78.883 |
25.712 |
25.064 |
|
|
|
|
|
|
TOTAL |
139.744 |
67.489 |
62.041 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.201 |
1.445 |
1.053 |
|
(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 |
4.100 |
4.100 |
4.108 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.337 |
0.248 |
0.052 |
|
(e)
Other Non-current assets |
0.579 |
0.816 |
0.140 |
|
Total
Non-Current Assets |
6.217 |
6.609 |
5.353 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
17.535 |
21.747 |
15.956 |
|
(c)
Trade receivables |
44.054 |
15.085 |
8.199 |
|
(d)
Cash and cash equivalents |
64.035 |
23.962 |
32.134 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.126 |
|
(f)
Other current assets |
7.903 |
0.086 |
0.273 |
|
Total
Current Assets |
133.527 |
60.880 |
56.688 |
|
|
|
|
|
|
TOTAL |
139.744 |
67.489 |
62.041 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
327.899 |
120.070 |
124.897 |
|
|
|
|
|
|
|
Less |
EXPENSES |
302.492 |
112.405 |
110.478 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
25.407 |
7.665 |
14.419 |
|
|
|
|
|
|
|
Less |
TAX |
5.854 |
2.424 |
4.796 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
19.553 |
5.241 |
9.623 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.714 |
18.438 |
11.431 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
6.464 |
5.965 |
2.616 |
|
|
BALANCE CARRIED
TO THE B/S |
30.803 |
17.714 |
18.438 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
168.025 |
24.084 |
0.000 |
|
|
TOTAL EARNINGS |
168.025 |
24.084 |
0.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
488.82 |
131.02 |
240.57 |
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 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.73 |
12.09 |
24.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
0.18 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.59 |
0.33 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69 |
2.37 |
2.26 |
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 |
1.000 |
4.000 |
4.000 |
|
Reserves & Surplus |
35.938 |
37.715 |
56.804 |
|
Net worth |
36.938 |
41.715 |
60.804 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
7.299 |
13.703 |
35.890 |
|
Total borrowings |
7.299 |
13.703 |
35.890 |
|
Debt/Equity ratio |
0.198 |
0.328 |
0.590 |
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 |
124.897 |
120.070 |
327.899 |
|
|
|
(3.865) |
173.090 |
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 |
124.897 |
120.070 |
327.899 |
|
Profit |
9.623 |
5.241 |
19.553 |
|
|
7.70% |
4.36% |
5.96% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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 |
No |
|
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 |
Note:
The Registered Office of the company has been shifted from 202, Madhav
Kunj, South Pondroad, Vile Parle (West), Mumbai – 400056, Maharashtra, India to
the present address w.e.f. 15.09.2012.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
SHORT TERM
BORROWINGS |
|
|
|
Kushal J. Shah, Director |
0.000 |
4.000 |
|
Total |
0.000 |
4.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
- Land - Freehold
- Buildings - Office Premises
- Office Equipment
- Computers
- Furniture and Fittings
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. 63.49 |
|
|
1 |
Rs. 99.42 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
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.