MIRA INFORM REPORT
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Report No. : |
310598 |
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Report Date : |
03.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
VANSH INFOTECH PRIVATE LIMITED |
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Registered
Office : |
Block No M-1, Annapurna Complex, Opposite Sudhanshu Hall, Chakradhar
Nagar, Ayodhya Nagar Road, Nagpur - 440009, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.05.2004 |
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Com. Reg. No.: |
11-146338 |
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Capital
Investment / Paid-up Capital : |
Rs.0.200 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2004PTC146338 |
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TIN No.: |
Not Available |
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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
: |
Trading of Computer, Laptop and Peripherals, and also in
the areas of Information Technology and IT Enabled Services. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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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 an established company having moderate track record. The rating is constrained on account of company’s moderate operational
risk profile and sharp dip in profitability of the company during 2014. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings 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.
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 DENIED
Management Non Co-Operative (Tel No.: 91-712-2751414)
LOCATIONS
|
Registered Office : |
Block No M-1, Annapurna Complex, Opposite Sudhanshu Hall, Chakradhar
Nagar, Ayodhya Nagar Road, Nagpur - 440009, Maharashtra, India |
|
Tel. No.: |
91-712-2751414 |
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Mobile No.: |
91-9821608990 (Mr. Anish Nair) |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
L-18/13, Raghuji Nagar, Nagpur – 440009,
Maharashtra, India |
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Regional Office : |
17, Aditya Residency, Mitramandal Square Parvati, Pune – 411009,
Maharashtra, India |
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Tel No.: |
91-20-24483900 |
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Branch Office : |
Located At: Mumbai, Maharashtra, India |
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Tel No. : |
91-22-40428811 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ajay Nanaji Dhawangale |
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Designation : |
Director |
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Address : |
H/No L-8/13, Raje
Raghuji Nagar, Main Road, Nagpur - 440009, Maharashtra, India |
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Date of Birth/Age : |
30.03.1972 |
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Date of Appointment : |
17.05.2004 |
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DIN No.: |
01433226 |
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Name : |
Ms. Sonal Ajay Dhawangale |
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Designation : |
Director |
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Address : |
L-8/13 Opposite
NIT Complex, Raghuji Nagar, Nagpur - 440009, Maharashtra, India |
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Date of Birth/Age : |
23.08.1980 |
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Date of Appointment : |
09.11.2006 |
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DIN No.: |
02231986 |
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Name : |
Mr. Kamlesh Ghisulaji Mehta |
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Designation : |
Director |
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Address : |
801, 8th Floor,
Vinayak Aangan, V. S. Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Date of Birth/Age : |
11.09.1969 |
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Date of Appointment : |
04.07.2011 |
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DIN No.: |
00017836 |
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Name : |
Mr. Champalal Manekchand Bafna |
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Designation : |
Additional Director |
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Address : |
1101, 11th
Floor, Vastushilp, Gamadia Colony, Tardeo, Mumbai -400007, Maharashtra, India
|
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Date of Birth/Age : |
15.04.1965 |
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Date of Appointment : |
04.07.2011 |
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DIN No.: |
03501196 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Nanaji Dhawangale |
|
2000 |
|
Vijay Dhawangale |
|
1000 |
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Sonal Dhawangale |
|
2000 |
|
Sona Dhawangale |
|
4000 |
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Champalal Bafna |
|
3000 |
|
Kamlesh Mehta |
|
3000 |
|
Akshita Lad |
|
2000 |
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Priti Lad |
|
2000 |
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Vikas Mehta |
|
1000 |
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Total |
|
20000 |
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
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Line of Business : |
Trading of Computer, Laptop and Peripherals, and also in
the areas of Information Technology and IT Enabled Services. |
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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 : |
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 denied by management |
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Bankers : |
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Facilities : |
Security The aforesaid loans are secured by hypothecation of all 15 nos. School Buses of the Company Terms of
Repayment The loan availed from Kotak Mahhindra Bank Limited is repayable by March 2015. The aforesaid loans are repayable in Monthly Instalments arrived including the Interest amount:
Rs.1.484 Million which is repayable during the Financial Year 2013-2014 and is part of Secured Term Loan from banks is classified under Current Liabilities as "Current Maturities of Long Term Debt. |
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Auditors : |
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Name : |
Dheeraj Kochar and Company Chartered Accountant |
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Address : |
Jain Mandir Ward, Hinganghar, Wardha - 442301, Maharashtra, India |
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Email ID : |
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PAN No.: |
AMGPK6324D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200
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 |
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|
(1)Shareholders' Funds |
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(a) Share Capital |
0.200 |
0.200 |
0.200 |
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(b) Reserves & Surplus |
76.810 |
66.819 |
29.740 |
|
(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 |
0.400 |
0.400 |
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Total
Shareholders’ Funds (1) + (2) |
77.010 |
67.419 |
30.340 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
1.121 |
4.737 |
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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) |
0.000 |
1.121 |
4.737 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
8.133 |
8.264 |
21.979 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
194.707 |
123.087 |
66.163 |
|
(d) Short-term
provisions |
2.000 |
17.069 |
8.238 |
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Total Current
Liabilities (4) |
204.840 |
148.420 |
96.380 |
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TOTAL |
281.850 |
216.960 |
131.457 |
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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 |
35.659 |
23.832 |
26.456 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(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 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
15.900 |
15.900 |
15.900 |
|
Total Non-Current
Assets |
51.559 |
39.732 |
42.356 |
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(2)
Current assets |
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
134.279 |
107.363 |
61.993 |
|
(c) Trade
receivables |
19.697 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
33.490 |
29.350 |
4.914 |
|
(e)
Short-term loans and advances |
11.508 |
8.300 |
8.857 |
|
(f) Other current
assets |
31.317 |
32.215 |
13.337 |
|
Total
Current Assets |
230.291 |
177.228 |
89.101 |
|
|
|
|
|
|
TOTAL |
281.850 |
216.960 |
131.457 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
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|
|
Income |
167.105 |
281.271 |
156.537 |
|
|
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Other Income |
1.719 |
3.685 |
1.346 |
|
|
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TOTAL (A) |
168.824 |
284.956 |
157.883 |
|
|
|
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|
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Less |
EXPENSES |
|
|
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|
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|
|
TOTAL (B) |
142.311 |
223.305 |
120.885 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.513 |
61.651 |
36.998 |
|
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.610 |
2.341 |
3.720 |
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
25.903 |
59.310 |
33.278 |
|
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|
|
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|
Less |
DEPRECIATION/
AMORTISATION (F) |
13.912 |
5.161 |
7.603 |
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
11.991 |
54.149 |
25.675 |
|
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|
Less |
TAX (H) |
2.000 |
17.070 |
8.238 |
|
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
9.991 |
37.079 |
17.437 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.819 |
29.740 |
12.303 |
|
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|
|
BALANCE CARRIED
TO THE B/S |
76.810 |
66.819 |
29.740 |
|
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|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
499.55 |
1853.95 |
871.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.98 |
13.18 |
11.14 |
|
|
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|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.87 |
21.92 |
23.64 |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.25 |
24.96 |
19.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.80 |
0.85 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.11 |
0.14 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.19 |
0.92 |
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 |
0.200 |
0.200 |
0.200 |
|
Reserves & Surplus |
29.740 |
66.819 |
76.810 |
|
Share Application money pending allotment |
0.400 |
0.400 |
0.000 |
|
Net
worth |
30.340 |
67.419 |
77.010 |
|
|
|
|
|
|
Long Term borrowings |
4.737 |
1.121 |
0.000 |
|
Short Term borrowings |
21.979 |
8.264 |
8.133 |
|
Total
borrowings |
26.716 |
9.385 |
8.133 |
|
Debt/Equity
ratio |
0.881 |
0.139 |
0.106 |
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 |
156.537 |
281.271 |
167.105 |
|
|
|
79.683 |
(40.589) |
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
|
156.537 |
281.271 |
167.105 |
|
Profit |
17.437 |
37.079 |
9.991 |
|
|
11.14% |
13.18% |
5.98% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Million
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
1.484 |
3.884 |
4.194 |
|
Total |
1.484 |
3.884 |
4.194 |
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advance from Related Parties |
8.133 |
7.268 |
|
Loans and advance from Others |
0.000 |
0.996 |
|
Total |
8.133 |
8.264 |
NATURE OF OPERATIONS
The Company has been set up with the main object of doing the business in the areas of trading of Computer, Laptop & Peripherals, and also in the areas of Information Technology and IT Enabled Services, serving for the Municipal Corporations, and other Department including Government, Semi-Governments and other Private Authorities, particularly all over in the State of Maharashtra and Chattisgarh.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10297844 |
26/07/2011 |
2,624,000.00 |
Kotak Mahindra Bank Limited |
36-38 A, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B17082728 |
|
2 |
10270047 |
01/10/2010 |
8,883,000.00 |
Kotak Mahindra Bank Limited |
36-38 A, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A96139530 |
|
3 |
10173731 |
20/08/2009 |
5,090,000.00 |
Kotak Mahindra Bank Limited |
5th
Floor, Usha Complex, Sardar Vallabbhai Patel |
A68227065 |
|
4 |
10087628 |
14/12/2007 |
1,500,000.00 |
State Bank Of Indore |
Timki, Nagpur, Maharashtra - 440009, India |
A32147308 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.82 |
|
|
1 |
Rs.95.27 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
32 |
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.