MIRA INFORM REPORT
|
Report No. : |
322417 |
|
Report Date : |
15.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEST IT WORLD (INDIA) PRIVATE LIMITED (w.e.f.10.07.2000) |
|
|
|
|
Formerly Known
As : |
PITRANI COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
87/93, Mistry Industrial Complex, MIDC Cross Road ‘A’, Andheri East,
Mumbai - 400093, Maharashtra |
|
Tel. No.: |
91-22-30815100/67745100 |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
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|
|
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Date of
Incorporation : |
17.12.1996 |
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|
|
|
Com. Reg. No.: |
11-104553 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30000MH1996PTC104553 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB09573E |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACP6597N |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Trading in Computer Systems, Components, Peripherals,
Allied Products and Mobile Handset. |
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|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. For the financial year ended 2014, the company has reported sound
operational performance and it has achieved topline growth of 35.20% during a
year under a review. Rating reflects best IT’s professionally qualified and experienced
promoters supported by its robust distribution network, its extensive product
portfolio and the established brand image of “iBall” in the computer
peripherals and mobile handset business. Rating also takes into consideration company’s healthy financial risk
profile and adequate liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of decent operational profile, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
February 11, 2015 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
February 11, 2015 |
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. 91-22-30815100)
LOCATIONS
|
Registered Office : |
87/93, Mistry Industrial Complex, MIDC Cross Road ‘A’, Andheri East,
Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30815100/67745100 |
|
Fax No.: |
91-22-66436262 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2: |
Survey No.91/2, Building No.282, Purnikpada, |
|
Tel No.: |
91-22-3294744 |
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|
|
|
Branches : |
Located at: · Ahmedabad ·
· Bhubaneshwar · Chandigarh · Cochin · Chennai · Dehradun · Guwahati · Indore · Jaipur · Kolkata · New Delhi · Lucknow · Nagpur · Nashik · Pune · Raipur · Secunderabad |
|
|
|
|
Service Centers : |
Located at: · Andhra Pradesh ·
· Chhattisgarh · Goa · Gujarat · Karnataka · Kerala · Madhya Pradesh · Maharashtra · New Delhi · Orissa · Punjab · Rajasthan · Tamil Nadu · Uttar Pradesh · Uttaranchal · West Bengal |
Bangalore DIRECTORS
As on: 25.09.2014
|
Name : |
Mr. Sunil Babulal Kedia |
|
Designation : |
Director |
|
Address : |
B-204, Neptune, Vasant, Galaxy, Goregaon West, Mumbai - 400062, |
|
Date of Birth/Age : |
30.10.1959 |
|
Qualification: |
B.Com, FCA |
|
Experience: |
29 Years |
|
Date of Appointment : |
10.05.2000 |
|
PAN No.: |
AADPK9566E |
|
DIN No.: |
00140275 |
|
|
|
|
Name : |
Mr. Sandeep Sitaram Parasrampuria |
|
Designation : |
Director |
|
Address : |
402, Resort View, Thakur Complex, Kandivali (East), Mumbai – 400101,
Maharashtra, India |
|
Date of Birth/Age : |
20.07.1965 |
|
Qualification: |
B.Com, ACA |
|
Date of Appointment : |
17.12.1996 |
|
PAN No.: |
AADPP9122H |
|
Voter ID No.: |
MT/08/040/0783405 |
|
DIN No.: |
00140120 |
|
|
|
|
Name : |
Mr. Anil Jagdishprasad Parasrampuria |
|
Designation : |
Director |
|
Address : |
303, Glory, Vasant Marvel, C-Wing, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Date of Birth/Age : |
06.09.1967 |
|
Qualification: |
B.Com |
|
Experience: |
22 Years |
|
Date of Appointment : |
17.12.1996 |
|
PAN No.: |
AACPP2312G |
|
Voter ID No.: |
KNF1165976 |
|
DIN No.: |
00140235 |
|
|
|
|
Name : |
Mr. Rakesh Yogeshkumar Shah |
|
Designation : |
Director |
|
Address : |
A-408, Bhoomi Enclave Mahavir Nagar, Kandivali (West) Mumbai – 400067,
|
|
Date of Birth/Age : |
20.11.1965 |
|
Qualification: |
B.Com |
|
Experience: |
24 Years |
|
Date of Appointment : |
21.05.1998 |
|
PAN No.: |
ACXPS6801J |
|
DIN No.: |
00140338 |
|
|
|
|
Name : |
Mr. Vijay Kumar Dalmia |
|
Designation : |
Director |
|
Address : |
603, Highland Park, Lakhandwala Complex, Andheri (East),
Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1956 |
|
Date of Appointment : |
07.06.2000 |
|
PAN No.: |
AAAPD4448H |
|
DIN No.: |
00209719 |
|
|
|
|
Name : |
Mr. Ranojoy Chowdhury |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. 503, Halvasiya Utsav Enclave, Faizabad Road, Lucknow - 226016, Uttar Pradesh, India |
|
Date of Birth/Age : |
28.12.1956 |
|
DIN No.: |
06726198 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2014
|
Names of Shareholders |
No. of Shares |
|
Sandeep S. Parasrampuria |
26000 |
|
Anil J. Parasrampuria |
52850 |
|
Sunil Kedia |
20250 |
|
Rakesh Y. Shah and Ami R. Shah |
122500 |
|
Anita S. Parasrampuria and Sandeep S Parasrampuria |
82500 |
|
Sudha A. Parasrampuria and Anil J. Parasrampuria |
48000 |
|
Ami R. Shah and Rakesh Y. Shah |
35000 |
|
Bharti S. Kedia |
54700 |
|
Vijay Dalmia Karta |
57200 |
|
Sangeeta V. Dalmia |
100200 |
|
Amit N. Banka and Pooja A. Banka |
15000 |
|
Jagdish Parasrampuria |
1000 |
|
Vidyadevi Dalmia |
100 |
|
Sitaram Parasrampuria and Draupadi Parasrampuria |
500 |
|
Draupadi Parasrampuria and Sitaram Parasrampuria |
500 |
|
Nimisha Parasrampuria |
50 |
|
Bennett Colemn and Company Limited, India |
10 |
|
Sandeep S. Parasrampuria and Anita S. Parasrampuria |
78000 |
|
Anil J Parasrampuria and Sudha A Parasrampuria |
55500 |
|
Kanishk Saraogi and Shaily Saraogi |
10 |
|
Surendra Saraogi |
10 |
|
Geeta Devi Goel |
10 |
|
Mala Tulsidas Bileye |
10 |
|
Rajani A. Parasrampuria |
100 |
|
Total |
750000 |
As on 25.09.2014
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 : |
Trading in Computer Systems, Components, Peripherals,
Allied Products and Mobile Handset. |
|
|
|
|
Products : |
· Computer Systems · Components Peripherals ·
Allied Products and Mobile Handset. |
|
|
|
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Brand Names : |
Not Available |
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|
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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 : |
Not Divulged |
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 : |
· Cosmos Bank, Pratik Avenue, 1st Floor, Opposite Hotel Shivsagar, Vile Parle (East), Mumbai - 400057, Maharashtra, India · Small Industries Development Bank of India, Show Room No 1&2, Upper Ground Floor, Samruddhi, Venture Park, M I D C Road, Marol, Andheri (West), Mumbai - 400093, Maharashtra, India · IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
V. B. Goel and Company Chartered Accountants |
|
Address : |
Flat no. 2 and 3,
Ajay Apts, Kasturba Cross Road Malad West Mumbai – 400064, Maharashtra, India |
|
PAN No.: |
AACPG6633R |
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|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
Associate : |
Natasha Industries |
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|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives |
·
Dalmia Polytex Private Limited CIN No.: U17120MH1997PTC106952 ·
Quality Product ·
Saanwaria Polyster Private Limited ·
Centos Synthetics ·
Anil Rajesh and
Trading Company ·
Sharp Infrastructure Private Limited CIN No.: U14107MP2004PTC016442 ·
Strata Geosystems (India) Private Limited CIN No.: U17299MH2004PTC148625 |
CAPITAL STRUCTURE
As on 25.09.2014
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500
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 |
7.500 |
7.500 |
7.500 |
|
(b) Reserves & Surplus |
640.796 |
567.173 |
486.825 |
|
(c) Money
received against share warrants |
13.000 |
13.000 |
13.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
661.296 |
587.673 |
507.325 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
225.232 |
76.818 |
27.126 |
|
(b) Deferred tax liabilities (Net) |
25.170 |
12.573 |
8.543 |
|
(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) |
250.402 |
89.391 |
35.669 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
506.026 |
725.675 |
572.141 |
|
(b) Trade
payables |
764.007 |
529.129 |
348.917 |
|
(c) Other
current liabilities |
278.737 |
180.159 |
94.412 |
|
(d) Short-term
provisions |
46.257 |
34.734 |
25.437 |
|
Total Current
Liabilities (4) |
1595.027 |
1469.697 |
1040.907 |
|
|
|
|
|
|
TOTAL |
2506.725 |
2146.761 |
1583.901 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
195.718 |
170.140 |
146.970 |
|
(ii)
Intangible Assets |
38.278 |
34.462 |
33.361 |
|
(iii)
Capital work-in-progress |
0.133 |
0.000 |
6.172 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.127 |
0.127 |
0.128 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
78.762 |
72.083 |
66.403 |
|
(e) Other
Non-current assets |
87.862 |
117.821 |
4.103 |
|
Total Non-Current
Assets |
400.880 |
394.633 |
257.137 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1429.647 |
1043.233 |
750.817 |
|
(c) Trade
receivables |
449.595 |
402.126 |
293.279 |
|
(d) Cash
and cash equivalents |
92.955 |
153.253 |
150.564 |
|
(e)
Short-term loans and advances |
130.899 |
152.559 |
131.698 |
|
(f) Other
current assets |
2.749 |
0.957 |
0.406 |
|
Total
Current Assets |
2105.845 |
1752.128 |
1326.764 |
|
|
|
|
|
|
TOTAL |
2506.725 |
2146.761 |
1583.901 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
8278.770 |
6122.934 |
3919.482 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of stock in trade |
|
|
|
|
|
|
Employee Benefit expenses |
|
|
|
|
|
|
Other Expenses |
|
|
|
|
|
|
Changes in inventories of finished goods |
|
|
|
|
|
|
TOTAL (B) |
8020.727 |
5885.489 |
3787.769 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
258.043 |
234.267 |
131.713 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
120.513 |
92.336 |
51.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
137.530 |
141.931 |
80.683 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.239 |
16.045 |
9.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
118.291 |
125.886 |
71.366 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.403 |
40.273 |
23.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
78.888 |
85.613 |
47.486 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.151 |
26.803 |
24.547 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
70.000 |
70.000 |
40.000 |
|
|
|
Interim / Proposed Dividend |
4.500 |
4.500 |
4.500 |
|
|
|
Tax on Dividend |
0.765 |
0.765 |
0.730 |
|
|
BALANCE CARRIED
TO THE B/S |
40.774 |
37.151 |
26.803 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.635 |
0.549 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
FOB Value of Import |
5738.606 |
4170.706 |
2464.078 |
|
|
TOTAL IMPORTS |
5738.606 |
4170.706 |
2464.078 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
105.184 |
114.15 |
63.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.72 |
5.86 |
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.21 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.11 |
1.37 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.19 |
1.27 |
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 |
7.500 |
7.500 |
7.500 |
|
Reserves & Surplus |
486.825 |
567.173 |
640.796 |
|
Money received against share warrants |
13.000 |
13.000 |
13.000 |
|
Net worth |
507.325 |
587.673 |
661.296 |
|
|
|
|
|
|
long-term borrowings |
27.126 |
76.818 |
225.232 |
|
Short term borrowings |
572.141 |
725.675 |
506.026 |
|
Total borrowings |
599.267 |
802.493 |
731.258 |
|
Debt/Equity ratio |
1.181 |
1.366 |
1.106 |
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) |
|
Total Income |
3919.482 |
6122.934 |
8278.770 |
|
|
|
56.218 |
35.209 |
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 |
3919.482 |
6122.934 |
8278.770 |
|
Profit |
47.486 |
85.613 |
78.888 |
|
|
1.21% |
1.40% |
0.95% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
|
Particular |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
|
|
|
|
|
Current maturities of long-term debt |
2.297 |
3.759 |
3.763 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
MACRO ECONOMIC
SCENARIO:
The world Gross Domestic Product (GDP), as reported by the International Monetary Fund, stood at 3.7% in 2013 as compared to 3.2% in 2012. While the growth in the advanced economies was 1.3% in 2013 in contrast to 1.2% in 2012, growth in the emerging and developing economies fell to 4.7% in 2013 as compared to 5.1% in 2012. Similarly, the GDP growth in India continued to be sub 5% growth at 4.7%. Global prospects have improved but the road to recovery in the advanced economies is still uncertain and volatile. The Global operating environment improved considerably in FY 2013-14, as economic activity strengthened and spending in most economies began to recover, however in a sporadic manner.
The Industrial activity remained weak and the stagnation was broad based. Mining and manufacturing output remained negative and the economy witnessed decline in investment in new projects in line with slowdown in overall growth. FY 2013-14 was a challenging year for the Company as the Indian economy continued to be under severe stress.
Corporate sustainability has also become an important agenda across industry segments. Looking ahead, Information Technology will continue to be an essential part of the growth engine for national development.
COMPANY’S ACTIVITIES
The company continues on its journey of sustainable growth.
FY14 results have demonstrated significant business momentum, non - linearity and record customer satisfaction. The company continues to be resilient in a dynamic and challenging business environment.
Consolidated revenues for fiscal 2014 stood at Rs. 8278.800 million against Rs. 6122.900 million, a year-on-year growth of about 35.21%. The profit after tax and exceptional item for the year stood at Rs. 78.900 million against Rs. 85.600 million in the previous year. But for the unfavorable USD Exchange Rate the profit of the company during the year would have been much better.
Communication being one of the basic foundations for national growth and this industry continues to be an important ingredient for achieving the estimated GDP growth of 5.5% during the year. The Indian cellular phone market has been witnessing an unprecedented growth during the last few years and is expected to continue to do so. The company continues to take fresh initiatives and expects to achieve a significant volume of business from this activity during the year. With Mobile Computing also on the increase, the company has achieved significant success in the Tablet PC segment.
Looking ahead, they foresee a highly challenging new business environment. They would like to emphasize and request for support from all constituent stakeholders as they company strives to venture into uncharted territories and achieve higher levels of performance, operational excellence and add value.
REVIEW OF OPERATIONS
The Company continues its endeavor in providing customers quality products, services and delivery efficiency, thereby ensuring their continued patronage for your company's products and services.
The Company continues to gear up all its resources to derive the maximum benefits in the present economic scenario and is taking adequate steps to ensure adequate reach in all corners of the country with vigorous marketing efforts and ceaseless cost reduction exercises. The Directors are fully seized of the fact that the need of the hour is to enhance the Revenue and Profit to higher levels and to achieve this end efforts have been initiated for adding value to products and services.
Efforts are also being intensified to maintain leadership position by constant up gradation of products to keep pace with advancing technology trends and maintaining the superiority in quality of products and services.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
150.000 |
20.718 |
|
|
|
|
|
Total |
150.000 |
20.718 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10539945 |
18/12/2014 |
15,000,000.00 |
THE COSMOS CO- OPERATIVE BANK LIMITED |
VILE PARLE, PRATIK AVENUE, 1ST FLOOR, MUMBAI, MUMBAI - 400057, MAHARASHTRA, INDIA |
C38830071 |
|
2 |
10524515 |
01/10/2014 |
250,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI, KOLHAPU, KOLHAPUR - 416001, MAHARASHTRA, INDIA |
C27483759 |
|
3 |
10414303 |
04/02/2014 * |
150,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SHOW ROOM NO
1&2, UPPER GROUND FLOOR, SAMRUDDHI, |
B95608485 |
|
4 |
10406302 |
31/03/2015 * |
2,540,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
C51517852 |
* Date of charge modification
FIXED ASSETS
· Building
· Land
· Plant and Machinery
· Office Premises
· Computer Systems
· Electrical Fittings
· Dies and Molds
· Office Equipment
· Furniture and Fixture
·
Vehicles
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.63.84 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.