MIRA INFORM REPORT
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Report No. : |
338803 |
|
Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BLUECOM INFOTECH PRIVATE LIMITED |
|
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Registered
Office : |
15, F-1, Om Sagar Darshan Society, Sector - 48, Seawoods, Navi Mumbai –
400706, Maharashtra |
|
Tel. No.: |
91-22-67247272 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.02.2010 |
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Com. Reg. No.: |
11-199695 |
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Capital Investment
/ Paid-up Capital : |
Rs. 1.000 Million |
|
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|
CIN No.: [Company Identification
No.] |
U72900MH2010PTC199695 |
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|
IEC No.: |
Not Available |
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TIN No.: |
27960799088 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB20849D |
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PAN No.: [Permanent Account No.] |
AAECB0418L |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor and Service Provider of Computer Hardware and Software. |
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|
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record
record. General financial position of the company seems to be sound and healthy.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Ravi Shankar |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-67247272 |
|
Date : |
27.08.2015 |
LOCATIONS
|
Registered Office : |
15, F-1, Om Sagar Darshan, Sector - 48, Seawoods, Navi Mumbai –
400706, Maharashtra, India |
|
Tel. No.: |
91-22-67247272 |
|
Fax No.: |
91-22-67247272 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
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Locality: |
Residential |
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|
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Branch Office 1 : |
1st Floor, Prakash Kunj, V.N Purav Marg,
Behind Next Showroom, Sion Trombay Road , Chembur (East), Mumbai - 400071,
Maharashtra, India |
|
Fax No.: |
91-22-67247215/ 67247272 |
|
|
|
|
Branch Office 2 : |
2A, 1st Floor, House, Lamington Road, D.B. Marg, Next To D.B. Marg Police Station, Grant Road (East), Mumbai - 400007, Maharashtra, India |
|
Fax No.: |
91-22-67247272/ 67247201 |
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E-Mail: |
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Warehouse: |
Bhiwandi, Maharashtra India |
DIRECTORS
AS ON: 30.09.2014
|
Name : |
Mr. Birendra Sukhram Yadav |
|
Designation : |
Director |
|
Address : |
15, F-1, Om Sagar Darshan Society, Sector 48, Seawoods,
Navi Mumbai - 400706, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1973 |
|
Date of Appointment : |
04.02.2010 |
|
DIN No.: |
01941687 |
|
|
|
|
Name : |
Mr. Chanda Laljeet Yadav |
|
Designation : |
Director |
|
Address : |
15, F-1, Om Sagar Darshan Society, Sector 48, Seawoods,
Navi Mumbai - 400706, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1980 |
|
Date of Appointment : |
18.08.2010 |
|
DIN No.: |
03178989 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Shankar |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Birendra Sukhram Yadav |
90000 |
90.00 |
|
Chanda Laljeet Yadav |
10000 |
10.00 |
|
|
|
|
|
Total |
100000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor and Service Provider of Computer Hardware and Software. |
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|
|
Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Advance Payment and Credit |
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Purchasing : |
Cash, Advance Payment and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users and Others
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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|
Auditors : |
|
|
Name : |
Jayesh R Shah and Associates Chartered Accountants |
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Address : |
321/02, Siddhivinayak Co-operative Housing Society Limited, Hingwala Lane, Ghatkopar East, Mumbai – 400077, Maharashtra, India |
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Tel. No.: |
91-22-25010917/ 65235899 |
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Mobile No.: |
91-9820006820 |
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E-Mail : |
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PAN No.: |
AAVPS3735K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 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 |
1.000 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
25.308 |
16.011 |
6.447 |
|
(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) |
26.308 |
16.111 |
6.547 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1.050 |
3.173 |
3.168 |
|
(b) Deferred tax liabilities (Net) |
0.278 |
0.117 |
0.059 |
|
(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) |
1.328 |
3.290 |
3.227 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
79.260 |
63.685 |
50.297 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
2.027 |
3.832 |
3.277 |
|
Total Current
Liabilities (4) |
81.287 |
67.517 |
53.574 |
|
|
|
|
|
|
TOTAL |
108.923 |
86.918 |
63.348 |
|
|
|
|
|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.881 |
1.099 |
0.707 |
|
(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) |
0.000 |
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 |
1.881 |
1.099 |
0.707 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
22.634 |
21.207 |
9.918 |
|
(c) Trade
receivables |
64.390 |
54.298 |
47.716 |
|
(d) Cash
and cash equivalents |
17.337 |
7.699 |
4.066 |
|
(e) Short-term
loans and advances |
1.820 |
1.636 |
0.004 |
|
(f) Other
current assets |
0.861 |
0.979 |
0.937 |
|
Total
Current Assets |
107.042 |
85.819 |
62.641 |
|
|
|
|
|
|
TOTAL |
108.923 |
86.918 |
63.348 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
604.035 |
478.903 |
388.006 |
|
|
|
Other Income |
26.239 |
27.248 |
11.277 |
|
|
|
TOTAL (A) |
630.274 |
506.151 |
399.283 |
|
|
|
|
|
|
|
|
Less: |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
586.787 |
|
|
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock-in- Trade |
(1.427) |
(11.288) |
|
|
|
|
Employee Benefits Expense |
16.659 |
15.857 |
|
|
|
|
Other Expense |
13.823 |
12.082 |
|
|
|
|
TOTAL (B) |
615.842 |
491.422 |
391.025 (Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
14.432 |
14.729 |
|
|
|
|
|
|
|
|
|
|
Less: |
FINANCIAL
EXPENSES (D) |
0.028 |
0.027 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.404 |
14.702 |
8.258 |
|
|
|
|
|
|
|
|
|
Less: |
DEPRECIATION/
AMORTISATION (F) |
0.666 |
0.397 |
0.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
13.738 |
14.305 |
8.099 |
|
|
|
|
|
|
|
|
|
Less: |
TAX (H) |
4.560 |
4.739 |
2.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
9.178 |
9.566 |
5.538 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
92.000 |
957.00 |
553.80 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
840.000 |
Expected Sales (2015-2016): Rs. 1000.000
The above information has been parted by Mr. Ravi Shankar (Accounts
Head)
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) |
(%) |
1.52 |
2.00 |
1.43 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.39 |
3.08 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.61 |
16.46 |
12.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52 |
0.89 |
1.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.20 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.27 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.100 |
0.100 |
1.000 |
|
Reserves & Surplus |
6.447 |
16.011 |
25.308 |
|
Net worth |
6.547 |
16.111 |
26.308 |
|
|
|
|
|
|
long-term
borrowings |
3.168 |
3.173 |
1.050 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
3.168 |
3.173 |
1.050 |
|
Debt/Equity ratio |
0.484 |
0.197 |
0.040 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
388.006 |
478.903 |
604.035 |
|
|
|
23.427 |
26.129 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
388.006 |
478.903 |
604.035 |
|
Profit |
5.538 |
9.566 |
9.178 |
|
|
1.43% |
2.00% |
1.52% |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND PROSPECTS:
The Sales of the Company are indicators of good performance of the Company. The Director have put efforts to increase the profits of the Company and are considering various steps to develop new lines in production as well as trying to diversify the activities. The Directors are hopeful of good prospects of the Company.
FINANCE:
The Company has not accepted any fixed deposit from the public and shareholders.
UNSECURED LOAN:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Loans and advances
from directors |
|
|
|
Birendra Yadav |
0.450 |
2.573 |
|
Chanda Yadav |
0.600 |
0.600 |
|
|
|
|
|
Total |
1.050 |
3.173 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10277768 |
23/03/2015 * |
20,000,000.00 |
Bank of India |
AARTI CO OPERATIVE HOUSING SOCIETY, OFF PARK SITE, CELIENE D SILVA MARG, AMRUT NAGAR, GHATKOPAR WEST, MUMBAI, MAHARASHTRA -400086, INDIA |
C50028265 |
FIXED ASSETS:
· Computer
· Fax
· Furniture and Fixtures
· Office Equipment
·
Software
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.66.26 |
|
UK Pound |
1 |
Rs.101.99 |
|
102.35Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
THR |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.