MIRA INFORM REPORT

Report No. :	314626
Report Date :	27.03.2015

IDENTIFICATION DETAILS

Name :	DATASOFT NETWORK SOLUTIONS PRIVATE LIMITED
Registered Office :	8-B, Piccadilly Flats, Ground Floor, 57, Clare Road, Mumbai – 400008, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.03.2007
Com. Reg. No.:	11-168627
Capital Investment / Paid-up Capital :	Rs. 5.500 Million
CIN No.: [Company Identification No.]	U72900MH2007PTC168627
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMD14731D
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Dealing in Computer Hardware, Software and Electronic Goods.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 48000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked by leverage capital structure and thin profitability margins of the company. 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.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED

Management non corporative (91-22-67681800)

LOCATIONS

Registered Office :	8-B, Piccadilly Flats, Ground Floor, 57, Clare Road, Mumbai – 400008, Maharashtra, India
Tel. No.:	91-22–23080669/ 23095144
Fax No.:	Not Available
E-Mail :	approval@jsaca.co.in vaishali@datasoft.co.in sales@datasoft.co.in skjalgar@rediffmail.com
Website :	www.datasoft.co.in
Corporate Office:	217, Ravi Kiran, Next to Monginis Cake Factory, Link Road, Opposite City Mall, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-67681800
Fax No.:	91-22-67681834

DIRECTORS

As on 30.09.2014

Name :

Mr. Irvin Cajetan Pinto

Designation :

Managing director

Address :

A/603, Silver Croft Society, Off Yari Road, Versova, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

12.12.1965

Date of Appointment :

01.04.2008

PAN No.:

AAGPP1747B

DIN No.:

01049996

Other directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72900MH2007PTC168627	DATASOFT NETWORK SOLUTIONS PRIVATE LIMITED	Managing director	01/04/2008	12/03/2007	-	Active	NO

Name :

Mrs. Christabelle Elizabeth Pinto

Designation :

Director

Address :

A/603, Silver Croft Society, Off Yari Road, Versova, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

15.12.1970

Date of Appointment :

01.04.2008

PAN No.:

AICPP9990J

DIN No.:

01317379

Other directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72900MH2007PTC168627	DATASOFT NETWORK SOLUTIONS PRIVATE LIMITED	Director	01/04/2008	12/03/2007	-	Active	NO

Name :

Mrs. Blossom Aniruddha Nandi

Designation :

Director

Address :

2 Avni Villa, Panch Marg, Versova, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

09.03.1962

Date of Appointment :

30.01.2009

PAN No.:

ACEPN0374N

DIN No.:

02192404

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Irvin Cajetan Pinto	485000	88.18
Christabelle Elizabeth Pinto	5000	0.91
Blossom Aniruddha Nandi	60000	10.91
Total	550000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealing in Computer Hardware, Software and Electronic Goods.

Products :

Item Code No. (ITC Code)	Product Description
000009923	Computer related services

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	ACC Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

· Hiranandani Hospital

· Mahindra Finance

· Privy Organics Limited, India

· Infotech

· Hinduja Hospital

· Avinash Bhosale Group

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Indian Overseas Bank, Byculla Branch
Branch Address :	Embassy Apartment, 291-D, Bellasis Road, Mumbai Central, Mumbai – 400008, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Cash Credit from banks (Secured by hypothecation of inventories, book debts, equitable mortgage of immovable property of a director and guaranteed by directors)	32.573	24.301
Total	32.573	24.301

Auditors :
Name :	J. Shankar and Associates Chartered Accountants
Address :	D/6, 5th Floor, Everest, 156, Tardeo Road, Mumbai – 400034, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAPJ4905D
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
550,000	Equity Shares	Rs. 10/- each	Rs. 5.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
550,000	Equity Shares	Rs. 10/- each	Rs. 5.500 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	5.500	3.500	3.500
(b) Reserves & Surplus	11.268	9.950	7.642
(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)	16.768	13.450	11.142
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	39.716	35.328	19.193
(b) Trade payables	27.274	21.308	37.560
(c) Other current liabilities	0.450	1.319	1.070
(d) Short-term provisions	3.792	3.847	3.796
Total Current Liabilities (4)	71.232	61.802	61.619
TOTAL	88.000	75.252	72.761
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.120	3.595	4.148
(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	0.419	0.705	0.775
(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	0.000	0.000	0.000
Total Non-Current Assets	3.539	4.300	4.923
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	36.593	27.890	25.244
(c) Trade receivables	35.324	30.923	33.074
(d) Cash and cash equivalents	2.764	2.375	0.640
(e) Short-term loans and advances	0.187	0.146	0.790
(f) Other current assets	9.593	9.618	8.090
Total Current Assets	84.461	70.952	67.838
TOTAL	88.000	75.252	72.761

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	207.470	200.025	184.669
		Other Income	5.875	2.904	N.A
		TOTAL (A)	213.345	202.929	N.A
Less	EXPENSES
		Purchases of Stock-in-Trade	191.467	174.940
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(8.704)	(2.646)
		Employees benefits expense	16.136	14.416
		Other expenses	6.150	6.861	N.A
		TOTAL (B)	205.049	193.571
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8.296	9.358
Less	FINANCIAL EXPENSES (D)		5.630	5.451
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		2.666	3.907	3.634
Less/ Add	DEPRECIATION/ AMORTISATION		0.475	0.553	0.491
	PROFIT BEFORE TAX		2.191	3.354	3.143
Less	TAX		0.873	1.045	1.010
	PROFIT AFTER TAX		1.318	2.309	2.133
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		9.950	7.641	5.508
	BALANCE CARRIED TO THE B/S		11.268	9.950	7.641
	Earnings Per Share (Rs.)		2.40	6.60	6.09

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.64	1.15	1.16
Operating Profit Margin (PBDIT/Sales)	(%)	4.00	4.68	1.97
Return on Total Assets (PBT/Total Assets}	(%)	2.50	4.50	4.37
Return on Investment (ROI) (PBT/Networth)		0.13	0.25	0.28
Debt Equity Ratio (Total Debt/Networth)		2.37	2.63	1.72
Current Ratio (Current Asset/Current Liability)		1.19	1.15	1.10

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	3.500	3.500	5.500
Reserves & Surplus	7.642	9.950	11.268
Net worth	11.142	13.450	16.768
long-term borrowings	0.000	0.000	0.000
Short term borrowings	19.193	35.328	39.716
Total borrowings	19.193	35.328	39.716
Debt/Equity ratio	1.723	2.627	2.369

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	184.669	200.025	207.470
		8.315	3.722

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	184.669	200.025	207.470
Profit	2.133	2.309	1.318
	1.16%	1.15%	0.64%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three year	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	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--------
22]	Litigations that the firm / promoter involved in	--------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--------
26]	Buyer visit details	--------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
From banks	2.761	2.104
Deposits from companies	3.625	7.846
From related parties	0.757	1.077
Total	7.143	11.027

OPERATION OF THE COMPANY:

During the year the Company has continued the business of dealing in computer hardware, software and electronic goods. During the year the Company has earned sales and service income of Rs. 207.470 Million (previous year Rs. 200.025Million).

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

v Tangible Assets

· Office Equipments

· Computers

· Furniture and Fixtures

· Vehicles - Cars

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.62.67
UK Pound	1	Rs.93.26
Euro	1	Rs.68.85

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.