MIRA
INFORM REPORT
|
Report No. : |
346223 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
OSI NETWORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
312, Mangaldeep Complex, Opposite Masonic Hall, B. P. C. Road, Alkapuri,
Vadodara – 390005, Gujarat |
|
Tel. No.: |
91-265-3087877 |
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|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
02.07.2009 |
|
|
|
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Com. Reg. No.: |
04-057428 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ2009PTC057428 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDO00403E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCO1800G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Consultancy and development of computer software and hardware. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a small company incorporated in the year 2009. Its scale of
activities are limited. The company has reported minimal sales turnover from its modest scale
of operations along with thin profit margin in FY14. Further, it has modest
networth base. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with usual trade terms and conditions. |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Hitesh |
|
Designation : |
Director |
|
Contact No.: |
91-9824035290 |
|
Date : |
20.10.2015 |
LOCATIONS
|
Registered Office : |
312, Mangaldeep Complex, Opposite Masonic Hall, B. P. C. Road,
Alkapuri, Vadodara – 390005, Gujarat, India |
|
Tel. No.: |
91-265-3087877 |
|
Mobile No.: |
91-9824035290 (Mr. Hitesh) |
|
Fax No.: |
91-265-3088787 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sanjiv Kumar Gandharva Bhandari |
|
Designation : |
Director |
|
Address : |
301 Sandalwood, Near Urmi Char Rasta, Dinesh Mill Road, Akota, Vadodara - 390020, Gujarat, India |
|
Date of Birth/Age : |
09.10.1963 |
|
Date of Appointment : |
02.07.2009 |
|
DIN No.: |
02692704 |
|
|
|
|
Name : |
Mr. Hitesh Jayantibhai Patel |
|
Designation : |
Director |
|
Address : |
270 Patel Faliyu Limbhoi 2, Limbhoita Modasa, Modasa - 383316, Gujarat, India |
|
Date of Birth/Age : |
27.03.1980 |
|
Date of Appointment : |
02.07.2009 |
|
DIN No.: |
02693235 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Sanjivkumar Gnadharva Bhandari |
24995 |
|
Hitesh Patel |
25000 |
|
Kamleshkumar Shah |
1 |
|
Lalubhai |
1 |
|
Healthcare Pharmaceutical Private Limited |
1 |
|
Nilesh Thakkar |
1 |
|
Satinder Dalwari |
1 |
|
|
|
|
Total |
50000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Consultancy and development of computer software and hardware. |
|
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Kaushik B Patel and Company Chartered Accountants |
|
Address : |
201/A, Sarjan Complex, Prataproad, Dandia Bazar, Baroda – 390001,
Vadodara, India |
|
Tel. No.: |
91-265-2422979 |
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Mobile No.: |
91-9825354979 |
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E-Mail : |
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PAN No.: |
ACQPP5952N |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
1.782 |
1.261 |
0.821 |
|
(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) |
2.282 |
1.761 |
1.321 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.879 |
1.973 |
0.036 |
|
(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) |
0.879 |
1.973 |
0.036 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.200 |
3.582 |
2.443 |
|
(b) Trade payables |
3.335 |
2.042 |
1.496 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.148 |
0.380 |
0.119 |
|
Total Current Liabilities (4) |
3.683 |
6.004 |
4.058 |
|
|
|
|
|
|
TOTAL |
6.844 |
9.738 |
5.415 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.119 |
1.466 |
1.482 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.006 |
0.014 |
0.020 |
|
(d) Long-term Loan and Advances |
0.001 |
0.591 |
0.001 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1.126 |
2.071 |
1.503 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4.711 |
3.678 |
0.145 |
|
(c) Trade receivables |
0.439 |
3.746 |
2.878 |
|
(d) Cash and cash
equivalents |
0.179 |
0.013 |
0.559 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
0.389 |
0.230 |
0.330 |
|
Total Current Assets |
5.718 |
7.667 |
3.912 |
|
|
|
|
|
|
TOTAL |
6.844 |
9.738 |
5.415 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
26.575 |
20.071 |
19.523 |
|
|
|
Other Income |
0.038 |
0.029 |
0.026 |
|
|
|
TOTAL (A) |
26.613 |
20.100 |
19.549 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
17.678 |
12.271 |
13.094 |
|
|
|
Employee Benefits Expenses |
2.732 |
0.830 |
0.554 |
|
|
|
Other Expenses |
4.820 |
5.921 |
5.213 |
|
|
|
TOTAL (B) |
25.230 |
19.022 |
18.861 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.383 |
1.078 |
0.688 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.336 |
0.373 |
0.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1.047 |
0.705 |
0.593 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
0.208 |
0.259 |
0.259 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.839 |
0.446 |
0.334 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.319 |
0.006 |
-0.019 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
0.520 |
0.440 |
0.353 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.40 |
8.81 |
7.05 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.96 |
2.19 |
1.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.20 |
5.37 |
3.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
12.27 |
4.59 |
6.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47 |
3.15 |
1.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
1.28 |
0.96 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
0.821 |
1.261 |
1.782 |
|
Net
worth |
1.321 |
1.761 |
2.282 |
|
long-term borrowings |
0.036 |
1.973 |
0.879 |
|
Short term borrowings |
2.443 |
3.582 |
0.200 |
|
Total
borrowings |
2.479 |
5.555 |
1.079 |
|
Debt/Equity
ratio |
1.877 |
3.154 |
0.473 |
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 |
19.523 |
20.071 |
26.575 |
|
|
|
2.807 |
32.405 |
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
|
19.523 |
20.071 |
26.575 |
|
Profit |
0.353 |
0.440 |
0.520 |
|
|
1.81% |
2.19% |
1.96% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from other
parties |
|
|
|
From directors and relatives |
|
|
|
Charansingh
Chhabra |
0.000 |
0.500 |
|
Kamleshkumar R.
Shah (HUF) |
0.000 |
0.492 |
|
Lalubhai |
0.200 |
0.200 |
|
Healthcare
Pharmaceutical Private Limited |
0.000 |
0.200 |
|
Nilesh Thakkar |
0.000 |
0.250 |
|
Satindar Dalwari |
0.000 |
0.200 |
|
|
|
|
|
Total |
0.200 |
1.842 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10238948 |
03/01/2012
* |
2,000,000.00 |
STATE
BANK OF INDIA |
URMI
SOCIETY, PRODUCTIVITY ROAD,, ALKAPURI,, VADODARA, Gujarat - 390007, INDIA |
B31305675 |
|
2 |
10239691 |
04/01/2012
* |
2,000,000.00 |
STATE
BANK OF INDIA |
URMI
SOCIETY BRANCH,, PRODUCTIVITY ROAD,, VADODARA, Gujarat - 390007, INDIA |
B30341267 |
*Date of modification Charges
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Carry Bag
·
Computer
·
Furniture and Fixtures
·
Office Equipment
·
Vehicle
·
Air Condition Machine
·
Cycle
·
Testing Equipment
·
Mobile
·
Printer
·
Scanner
·
Software
·
Laptop
·
Networking Tools
·
Digital Camera
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.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.