MIRA INFORM REPORT
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Report No. : |
328829 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
MIRACLE TECH DISTRIBUTORS PRIVATE LIMITED |
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Registered
Office : |
212, Patel Shopping Center, Sai Nath
Road, Opposite Subway, Malad (West), Mumbai – 400064, Maharashtra |
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Tel. No.: |
91-22-28810705/ 28810706/ 32481005/ 66342221 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
10.06.2010 |
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Com. Reg. No.: |
11-204010 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2010PTC204010 |
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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
: |
The Company is operates a business of trading of Computer Hardware, Software and its CPA and other I T Products. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a private limited company incorporated in the year 2010,
having moderate track record. Rating takes into consideration company’s moderate financial risk
profile marked by huge and increasing external borrowings, which may hampered
the liquid profile of the company. However, sales turnover and profit of the company has increased in
FY14. Profitability of the company is low. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealing with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 PARTED BY
|
Name : |
Mr. Rajesh Harikishan Goel |
|
Designation : |
Director |
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Contact No.: |
91-9820291357 |
|
Date : |
23.06.2015 |
LOCATIONS
|
Registered Office : |
212, Patel Shopping Center, Sai Nath
Road, Opposite Subway, Malad (West), Mumbai – 400064, Maharashtra,
India |
|
Tel. No.: |
91-22-28810705/ 28810706/ 32481005/ 66342221 |
|
Mobile No.: |
91-9820291357 (Mr. Rajesh Harikishan Goel) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office : |
Office No. 11 C, 2nd Floor, Kamath Building, Shamrao Vithal Lane, Near Shamrao Vithal Bank, Lamington Road, Grant Road, Mumbai, - 400007, Maharashtra, India |
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Tel. No.: |
91-22-66353001/ 66353002/ 66342221/ 32481005 |
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E-Mail : |
DIRECTORS
AS ON: 30.09.2014
|
Name : |
Mr. Vijay Harikishan Goel |
|
Designation : |
Director |
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Address : |
3/22, Malad Co-operative Housing Society Limited, Poddar Road, Malad
(East). Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
13.09.1971 |
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Date of Appointment : |
10.06.2010 |
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DIN No.: |
02071148 |
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|
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Name : |
Mr. Rajesh Harikishan Goel |
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Designation : |
Director |
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Address : |
3/22, Malad Co-operative Housing Society Limited, Poddar Road, Malad
(East). Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
31.01.1970 |
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Date of Appointment : |
10.06.2010 |
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DIN No.: |
02071150 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Vijay Harikishan Goel |
5,100 |
51.00 |
|
Rajesh Harikishan Goel |
4,900 |
49.00 |
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|
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Total |
10,000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2014
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is operates a business of trading of Computer Hardware, Software and its CPA and other I T Products. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque, Demand Draft |
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Purchasing : |
Cheque, Demand Draft |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
15 (Approximately) |
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Bankers : |
Tel No.: 91-22-67574314 / 4322
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Facilities : |
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Auditors : |
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Name : |
Jain Ambavat and Associates Chartered Accountants |
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Address : |
10, Chemox House, Opposite Bombay Hospital, Above Panchvati Hotel,
Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-43473635-40 |
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PAN.: |
AAAFJ1780E |
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Other related
parties |
HK Goel (HUF) Rajesh Goel (HUF) G.G.Infotech (HUF) |
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
3.305 |
2.247 |
1.297 |
|
(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 |
|
Total
Shareholders’ Funds (1) + (2) |
3.405 |
2.347 |
1.397 |
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|
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
22.711 |
19.338 |
16.980 |
|
(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 |
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Total
Non-current Liabilities (3) |
22.711 |
19.338 |
16.980 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
24.636 |
17.167 |
6.643 |
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(b) Trade payables |
35.511 |
25.323 |
14.479 |
|
(c) Other current liabilities |
0.742 |
2.474 |
0.074 |
|
(d) Short-term provisions |
1.232 |
0.961 |
2.577 |
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Total
Current Liabilities (4) |
62.121 |
45.925 |
23.773 |
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TOTAL |
88.237 |
67.610 |
42.150 |
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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 |
1.035 |
1.023 |
1.046 |
|
(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 |
0.022 |
0.020 |
0.000 |
|
(c) Deferred tax assets (net) |
0.022 |
0.121 |
0.120 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1.079 |
1.164 |
1.166 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
32.087 |
22.716 |
14.955 |
|
(c) Trade receivables |
35.804 |
34.465 |
24.727 |
|
(d) Cash and cash equivalents |
17.931 |
8.638 |
0.627 |
|
(e) Short-term loans and
advances |
0.500 |
0.192 |
0.156 |
|
(f) Other current assets |
0.836 |
0.435 |
0.519 |
|
Total
Current Assets |
87.158 |
66.446 |
40.984 |
|
|
|
|
|
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TOTAL |
88.237 |
67.610 |
42.150 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
|
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|
|
|
Income |
412.499 |
363.059 |
315.105 |
|
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Other Income |
NA |
NA |
NA |
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TOTAL
(A) |
NA |
NA |
NA |
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EXPENSES
(B) |
NA |
NA |
NA |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
5.153 |
4.564 |
3.935 |
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FINANCIAL
EXPENSES (D) |
3.196 |
2.950 |
2.475 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.957 |
1.614 |
1.460 |
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DEPRECIATION/
AMORTISATION (F) |
0.263 |
0.240 |
0.204 |
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PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.694 |
1.374 |
1.256 |
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TAX
(H) |
0.615 |
0.424 |
0.396 |
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PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
1.058 |
0.950 |
0.860 |
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Earnings
/ (Loss) Per Share (Rs.) |
105.78 |
95.01 |
86.02 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
650.000 |
|
|
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|
The above information has been parted by Mr. Rajesh Harikishan Goel
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
0.26 |
0.26 |
0.27 |
|
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|
Operating Profit Margin |
(%) |
1.25 |
1.26 |
1.25 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92 |
2.04 |
2.99 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.59 |
0.90 |
|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
13.91 |
15.55 |
16.91 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.45 |
1.72 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
1.297 |
2.247 |
3.305 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1.397 |
2.347 |
3.405 |
|
|
|
|
|
|
long-term borrowings |
16.980 |
19.338 |
22.711 |
|
Short term borrowings |
6.643 |
17.167 |
24.636 |
|
Total borrowings |
23.623 |
36.505 |
47.347 |
|
Debt/Equity ratio |
16.910 |
15.554 |
13.905 |
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) |
|
Sales |
315.105 |
363.059 |
412.499 |
|
|
|
15.218 |
13.618 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
315.105 |
363.059 |
412.499 |
|
Profit |
0.860 |
0.950 |
1.058 |
|
|
0.27% |
0.26% |
0.26% |
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 |
Yes |
|
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 four 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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULAR |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
|
(Rs. In Million) |
|
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
|
|
|
Loan from Directors |
5.314 |
3.575 |
|
Loan from Related Parties (Terms of Repayment - On call) |
17.397 |
15.763 |
|
|
|
|
|
Total |
22.711 |
19.338 |
FINANCIAL RESULT:
During the year the company has made a profit of Rs.1.058 million as against a profit of Rs.0.950 million in the previous year.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10249973 |
31/03/2015 * |
22,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ |
C50833219 |
* Date of charge modification
CORPORATE INFORMATION
The Company is operates a business of Trading of Computer Hardware, Software and its CPA and other IT Products.
FIXED ASSETS
- AC (Office)
- Aquaguard
- Computer
- Furniture
- Office Equipment
- Vaccum Cleaner
- Bar Code Scanner
- Electric Fittings
- Printer
- Mobile
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.63.64 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.