MIRA INFORM REPORT
|
Report No. : |
347421 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CMS INFO SYSTEMS LIMITED (w.e.f. 27.01.2015) |
|
|
|
|
Formerly Known
As : |
CMS INFO SYSTEMS PRIVATE LIMITED (w.e.f.10.12.2008) SUBHIKSHA
REALTY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
CMS House, Plot No. 91, Street No.7, MIDC Marol, Andheri (East),
Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-30888881/ 5/ 30888853/ 67553101 / 30837272 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.03.2008 |
|
|
|
|
Com. Reg. No.: |
11-180479 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1617.752 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH2008PLC180479 |
|
|
|
|
TIN No.: |
0309024501 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16860E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS2311K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of trading in computer systems and peripherals, maintenance and facility management services for computer systems and peripherals, computer hardware and network training, print solution services and card personalisation services, also engaged in providing ATM and Cash Management Business. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behavior : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Blackstone FP Capital Partners (Mauritius)
V Limited, Mauritius. It is an established company incorporated in the year 2008 having good
track record. Available financial indicates sound financial risk profile marked by
healthy networth position with low borrowings recorded and decent profit
margin of the company. Fundamentals of the company are strong and healthy. The rating also takes into consideration strong performance of ATM and
Cash Management (ACM) business given CMS’ leadership market position as well
as its consistent ramp up of operations. The rating also derives strength from the holding company and its
experienced management. Trade relations are reported as fair. Business is active. Payments terms
are reported to be regular and as per commitment. The company can be considered normal for business dealings at 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
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan : AA |
|
Rating Explanation |
High degree of safety and carry low credit
risk. |
|
Date |
August, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund based limits : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
August, 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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Jay Kumar |
|
Designation : |
Manager in Operation |
|
Contact No.: |
91-22-67553100 |
|
Date : |
28.10.2015 |
LOCATIONS
|
Registered Office : |
CMS House, Plot No. 91, Street No.7, MIDC Marol, Andheri (East),
Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30888881/ 5/ 30888853/ 67553101 / 30837272 |
|
Fax No.: |
91-22-30888886/ 28364954/ 67553106 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
11th Floor, Silver Metropolis, Off Western
Express Highway, Opposite SRPF Grounds, Goregaon (East), Mumbai - 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-67553100/ 04 |
|
Fax No.: |
91-22-67553105 |
DIRECTORS
AS ON 21.10.2014
|
Name : |
Mr. Rajiv Kaul |
|
Designation : |
Whole-time director |
|
Address : |
B – 40, SFS, Sheikh Sarai – Phase 1, |
|
Date of Birth/Age : |
29.07.1968 |
|
Qualification : |
B.E, MBA |
|
Date of Appointment : |
01.07.2009 |
|
PAN No.: |
AAFPK5969B |
|
DIN No.: |
02581313 |
|
|
|
|
Name : |
Jimmy Lachmandas Mahtani |
|
Designation : |
Director |
|
Address : |
1 Chatsworth Road, #22-21, Singapore, 249745, Singapore |
|
Date of Appointment : |
27.08.2015 |
|
DIN No.: |
00996110 |
|
|
|
|
Name : |
Ashish Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No. 3403, D-Wing, Ashok Towers,, Dr. S S Rao Road,Parel, Mumbai - 400012, Maharashtra, India |
|
Date of Appointment : |
27.08.2015 |
|
DIN No.: |
00163344 |
KEY EXECUTIVES
|
Name : |
Mr. Praveen Soni |
|
Designation : |
Company Secretary |
|
Address : |
Dev Darshan, 405, 4th Floor, 60 Feet Road, Bhayander (West), Thane – 401101, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1977 |
|
Date of Appointment : |
01.07.2009 |
|
PAN No.: |
AVSPS8328L |
|
|
|
|
Name : |
Mr. Jay Kumar |
|
Designation : |
Manager in Operation |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.10.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Ramesh D. Grover |
|
35550287 |
|
Raju Grover |
|
70161 |
|
Vishal Gorver |
|
4787327 |
|
Aarti Grover |
|
3155687 |
|
R. D. Grover (HUF) |
|
2666667 |
|
Srinivasan Ramadorai |
|
1192738 |
|
Blackstone FP Capital Partners (Mauritius) V Limited,
Mauritius |
|
83167132 |
|
CMS Computers Limited, India |
|
9885191 |
|
Rajiv Kaul and Pankaj Khandelwal (Authorised Trustees of
CMS Securitas Employees Welfare Trust) |
|
6300000 |
|
|
|
|
|
Total |
|
146775190 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Mathew Cyriac (Authorised Trustee of CMS Securitas
Employees Welfare Trust) |
|
500000 |
|
Rajiv Kaul (Authorised Trustee of CMS Securitas Employees
Welfare Trust) |
|
500000 |
|
Pankaj Khandelwal (Authorised Trustee of CMS Securitas
Employees Welfare Trust) |
|
500000 |
|
|
|
|
|
Total |
|
1500000 |
AS ON 21.10.2014
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
56.67 |
|
Bodies corporate (not mentioned above) |
6.73 |
|
Directors or relatives of Directors |
31.50 |
|
Other top fifty shareholders |
5.10 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading in computer systems and peripherals, maintenance and facility management services for computer systems and peripherals, computer hardware and network training, print solution services and card personalisation services, also engaged in providing ATM and Cash Management Business. |
|
|
|
|
Products / Services : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding company : |
Blacktone FP Capital Partners (Mauritius) V Limited |
|
|
|
|
Subsidiary
Companies : |
|
|
|
|
|
Fellow Subsidiary
Company : |
Gokaldas Exports Limited [L18101KA2004PLC033475] |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives: |
|
CAPITAL STRUCTURE
AFTER 21.10.2014
Authorised Capital : Rs.
1630.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1480.000 Million
AS ON 21.10.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
148000000 |
Equity Shares |
Rs.10/- each |
Rs. 1480.000 Million |
|
1500000 |
0.01% Optionally Convertible Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 150.000 Million |
|
|
Total |
|
Rs. 1630.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
146775190 |
Equity Shares |
Rs.10/- each |
Rs. 1467.752
Million |
|
1500000 |
0.01% Optionally Convertible Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 150.000 Million |
|
|
Total |
|
Rs. 1617.752 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 |
1617.752 |
1617.752 |
1617.752 |
|
(b) Reserves &
Surplus |
3699.145 |
2981.143 |
2178.839 |
|
(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) |
5316.897 |
4598.895 |
3796.591 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
115.084 |
97.483 |
114.501 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
4.372 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
588.548 |
|
(d) long-term provisions |
0.000 |
0.000 |
28.772 |
|
Total Non-current
Liabilities (3) |
115.084 |
101.855 |
731.821 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
399.423 |
267.329 |
290.308 |
|
(b) Trade payables |
2802.810 |
637.576 |
672.945 |
|
(c) Other current
liabilities |
1870.964 |
1401.772 |
898.784 |
|
(d) Short-term provisions |
165.751 |
105.834 |
42.494 |
|
Total Current Liabilities
(4) |
5238.948 |
2412.511 |
1904.531 |
|
|
|
|
|
|
TOTAL |
10670.929 |
7113.261 |
6432.943 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
961.635 |
845.576 |
808.822 |
|
(ii) Intangible Assets |
1054.727 |
1052.199 |
1050.263 |
|
(iii) Capital work-in-progress |
22.651 |
75.177 |
64.652 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1221.019 |
1282.855 |
1267.855 |
|
(c) Deferred tax assets
(net) |
95.571 |
66.910 |
22.893 |
|
(d) Long-term Loan and Advances |
566.141 |
409.164 |
364.789 |
|
(e) Other Non-current
assets |
13.102 |
24.803 |
65.655 |
|
Total Non-Current Assets |
3934.846 |
3756.684 |
3644.929 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1883.397 |
120.381 |
127.804 |
|
(c) Trade receivables |
2615.820 |
1759.688 |
1525.200 |
|
(d) Cash and cash
equivalents |
49.542 |
132.978 |
68.885 |
|
(e) Short-term loans and
advances |
755.464 |
493.951 |
663.887 |
|
(f) Other current assets |
1431.860 |
849.579 |
402.238 |
|
Total Current Assets |
6736.083 |
3356.577 |
2788.014 |
|
|
|
|
|
|
TOTAL |
10670.929 |
7113.261 |
6432.943 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
9526.736 |
|
6914.414 |
|
|
Other Income |
|
|
|
|
|
TOTAL |
9526.736 |
7916.722 |
6914.414 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
8470.479 |
6721.501 |
6264.245 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1056.257 |
1195.221 |
650.169 |
|
|
|
|
|
|
|
Less |
TAX |
338.219 |
392.883 |
199.730 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
718.038 |
802.338 |
450.439 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Service and Maintenance charges |
8.213 |
14.623 |
10.308 |
|
|
TOTAL EARNINGS |
8.213 |
14.623 |
10.308 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
4.84 |
5.41 |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
261.488 |
100.985 |
176.826 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
826.525 |
900.916 |
601.327 |
|
Net cash flows from (used in) operating activities |
540.271 |
701.582 |
656.938 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.32 |
21.01 |
12.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.26 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.10 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.39 |
1.46 |
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 |
1617.752 |
1617.752 |
1617.752 |
|
Reserves & Surplus |
2178.839 |
2981.143 |
3699.145 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
3796.591 |
4598.895 |
5316.897 |
|
|
|
|
|
|
long-term borrowings |
114.501 |
97.483 |
115.084 |
|
Short term borrowings |
290.308 |
267.329 |
399.423 |
|
Current maturities of long-term debt |
176.826 |
100.985 |
261.488 |
|
Total borrowings |
581.635 |
465.797 |
775.995 |
|
Debt/Equity ratio |
0.153 |
0.101 |
0.146 |
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 |
6914.414 |
7916.722 |
9526.736 |
|
|
|
14.496 |
20.337 |
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 |
6914.414 |
7916.722 |
9526.736 |
|
Profit |
450.439 |
802.338 |
718.038 |
|
|
6.51% |
10.13% |
7.54% |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10591626 |
29/07/2015 |
28,397,507.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C64537046 |
|
2 |
10572609 |
20/05/2015 |
17,377,489.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C55276992 |
|
3 |
10555587 |
10/03/2015 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
C46977864 |
|
4 |
10528080 |
14/10/2014 |
11,255,343.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C31462971 |
|
5 |
10550220 |
10/10/2014 |
9,997,434.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C44157055 |
|
6 |
10550218 |
25/09/2014 |
18,894,656.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C44156123 |
|
7 |
10519758 |
27/08/2014 |
10,557,660.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C20467791 |
|
8 |
10511967 |
20/06/2014 |
15,707,890.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA |
C14413462 |
|
9 |
10452679 |
30/09/2013 |
13,787,475.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B86498888 |
|
10 |
10448725 |
11/09/2013 |
11,837,050.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B84818053 |
* Date of charge modification
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Working capital loans from banks |
37.367 |
0.000 |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
100.000 |
0.000 |
|
Total |
137.367 |
0.000 |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from 14,
Chandreahwar Hall Building, 2nd Floor, J S S Road, Opera House, Mumbai -
400004, Maharashtra, India to the present address w.e.f. 15.10.2008.
CORPORATE
INFORMATION
The Company is a company domiciled in India and incorporated under the provisions of the Companies Act, 1956 (the ‘Act’). The Company is engaged in the business of trading in computer systems and peripherals, maintenance and facility management services for computer systems and peripherals, computer hardware and network training, print solution services and card personalisation services. The Company is also engaged in providing ATM and Cash Management Business. During the current year, the Company has entered into contract for supply, installation and maintenance of ATM and cash deposit machines.
The Company, CMS IT Services Private Limited and its shareholders have entered into a Scheme of Arrangement (the ‘Scheme’) whereby the IT and the Print Division business of the Company would be demerged and transferred to CMS IT Services Private Limited with effect from January 01, 2015 (Appointed Date). The scheme was approved by the Board of Directors of both the companies in the meetings held on September 22, 2014 and is filed with the Honorable High Court of Bombay for the necessary approvals.
REVIEW OF OPERATION
The year was a decent year for the growth of the company and customer traction continued to be good. The Company showed an improvement in business as compared to the previous year. During the year, the Company was able to maintain profitable operations for the Company.
FIXED ASSETS
·
Plant and Machinery
·
Electrical Installation
·
Furniture, Fixtures and
Fittings
·
Vehicles
·
Office Equipments
·
Computer systems and
peripherals
·
Goodwill
·
Computer software
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.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.