MIRA INFORM REPORT
|
Report No. : |
340255 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNISYS SOFTWARES AND HOLDING INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
75/C, Park Street, Kolkata – 700016, West Bengal |
|
Tel. No.: |
91-33-22295359/ 22299198 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
01.10.1992 |
|
|
|
|
Com. Reg. No.: |
21-056742 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 230.002 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L51909WB1992PLC056742 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CALU01356F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1191Q |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Subject is engaged in software, hardware, and mobile phones trading activities and is also involved in non-banking financial activities. In addition, it is engaged in investments in securities and commodities market. |
|
|
|
|
No. of Employees
: |
23 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Liquidity position of the company seems to be decent. However rating also
takes into consideration low profitability and unfavorable gap between
receivables and payables of the company, during the year 2015. Trade relation reported to be fair. Business is active. Payment terms
are reported to be slow but correct. In the view of long track record of operations and extensive
experience of promoters, 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-9930192750 |
LOCATIONS
|
Registered Office : |
75/C, Park Street, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-22295359/ 22299198 |
|
Mobile No.: |
91-9930192750 (Mr. Ramesh) |
|
Fax No.: |
91-33-22299198 |
|
E-Mail : |
|
|
|
|
|
Admin Office : |
105, Sagar Shopping Center, J P Road, Andheri [West], Mumbai – 400058,
Maharashtra, India |
|
Tel. No.: |
91-22-26773832 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Jagdish Prasad Purohit |
|
Designation : |
Chairman and Managing Director |
|
Address : |
6.1, Bijoy Mukherjee Lane, Bhawanipur, Kolkata - 700025, West Bengal, India |
|
Date of Appointment : |
01.06.1995 |
|
DIN No.: |
00083125 |
|
|
|
|
Name : |
Mr. Sushil Kumar Purohit |
|
Designation : |
Non-Executive Director |
|
Address : |
6.1, Bijoy Mukherjee Lane, Bhawanipur, Kolkata - 700025, West Bengal, India |
|
Date of Appointment : |
15.02.1996 |
|
DIN No.: |
00073684 |
|
|
|
|
Name : |
Mr. Johar Pal Singh |
|
Designation : |
Independent Director |
|
Address : |
62/H/1, Keshab Chandra Sen Street, Kolkata - 700019, West Bengal, India |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
00113986 |
|
|
|
|
Name : |
Mr. Mohit Jhunjhunwala |
|
Designation : |
Independent Director |
|
Address : |
AG/1 Jyangra Triveni App, Floor - 2n, Raghunath Pur, Kolkata - 700059, West Bengal, India |
|
Date of Appointment : |
14.01.2015 |
|
DIN No.: |
02905685 |
|
|
|
|
Name : |
Renu Kedia |
|
Designation : |
Independent Director |
|
Address : |
97, Block-D, Bangur Avenue, Kolkata - 700055, West Bengal, India |
|
Date of Appointment : |
06.03.2015 |
|
DIN No.: |
07126779 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh |
|
Designation : |
Accounts Officer |
|
|
|
|
Name : |
Mr. Naresh Sharma |
|
Designation : |
Chief Finance Officer |
|
Address : |
R/O 6, Gobindopur Road, Flat 3c, Lake Garden, Kolkata -
700045, West Bengal, India |
|
Date of Appointment : |
29.03.2015 |
|
PAN No.: |
CBKPS7106N |
|
|
|
|
Name : |
Mr. Vijay Laxmi Purohit |
|
Designation : |
Secretary |
|
Address : |
P-7, Kalakar Street,, Burrabazar, 6th Floor, Kolkata -
700007, West Bengal, India |
|
Date of Appointment : |
29.03.2015 |
|
DIN No.: |
BCHPP2583H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4559400 |
19.82 |
|
|
1000000 |
4.35 |
|
|
5559400 |
24.17 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
5559400 |
24.17 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
100 |
0.00 |
|
|
100 |
0.00 |
|
|
|
|
|
|
13091631 |
56.92 |
|
|
|
|
|
|
318061 |
1.38 |
|
|
3883457 |
16.88 |
|
|
147551 |
0.64 |
|
|
146583 |
0.64 |
|
|
90 |
0.00 |
|
|
445 |
0.00 |
|
|
433 |
0.00 |
|
|
17440700 |
75.83 |
|
Total
Public shareholding (B) |
17440800 |
75.83 |
|
Total
(A)+(B) |
23000200 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
23000200 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in software, hardware,
and mobile phones trading activities and is also involved in non-banking financial
activities. In addition, it is engaged in investments in securities and
commodities market. |
|
|
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|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
|
|
Products : |
-- |
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Countries : |
-- |
|
|
|
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Terms : |
|
|
Selling : |
L/C and Cheque |
|
|
|
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Purchasing : |
L/C and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
23 (Approximately) |
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Bankers : |
· Axis Bank Limited Andheri (West), Lokhandwala, Mumbai, Maharashtra, India |
||||||||||||||||||||||
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||||||||||||||||||||||
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Facilities : |
-- |
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. S. Kedia and Company Chartered Accountants |
|
Address : |
8/1, Lal Bazar Street, 1st Floor, Room No. 8, Kolkata –
700001, West Bengal, India |
|
Tel. No.: |
91-33-22483696 |
|
Mobile No.: |
91-9831085849 |
|
E-Mail : |
|
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
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|
Group Companies or
Companies under same management –: |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,000,200 |
Equity Shares |
Rs. 10/- each |
Rs. 230.002 Millions |
|
|
|
|
|
NOTE:
RECONCILIATION OF
NUMBER OF SHARES
|
Particulars |
As At 31.03.2015 |
|
|
|
Number |
Rs. In Million |
|
Shares Outstanding at the beginning of the year |
23,000,200 |
230.002 |
|
Add : Further Shares issued during the Year |
-- |
-- |
|
Shares Outstanding at the end of the year |
23,000,200 |
230.002 |
Terms/Rights attached
to Equity Shares:
(i) The Company has only one class of Equity shares having par value of Rs.10/- per share.
(ii) Each holder of Equity share is entitled to one vote per share.
(iii) In the event of Liquidation of the Company , the holders of Equity shares will be entitled to receive the realised value of the assets of the Company, remaining after payment of all preferential dues(if any) .The distribution will be in proportion to the number of equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
230.002 |
230.002 |
230.002 |
|
(b) Reserves & Surplus |
360.922 |
353.948 |
348.986 |
|
(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) |
590.924 |
583.950 |
578.988 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
157.516 |
133.260 |
0.000 |
|
(b)
Trade payables |
2869.469 |
2420.349 |
1179.823 |
|
(c)
Other current liabilities |
57.269 |
192.349 |
799.211 |
|
(d)
Short-term provisions |
3.295 |
3.185 |
2.003 |
|
Total
Current Liabilities (4) |
3087.549 |
2749.143 |
1981.037 |
|
|
|
|
|
|
TOTAL |
3678.473 |
3333.093 |
2560.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9.024 |
13.535 |
20.302 |
|
(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 |
1772.746 |
1336.956 |
|
(c) Deferred tax assets
(net) |
0.000 |
1.600 |
1.836 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
1.364 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
10.388 |
1787.881 |
1359.094 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2392.502 |
98.845 |
55.434 |
|
(c)
Trade receivables |
579.475 |
379.389 |
192.213 |
|
(d)
Cash and cash equivalents |
2.014 |
13.193 |
1.617 |
|
(e)
Short-term loans and advances |
694.094 |
1053.785 |
951.667 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3668.085 |
1545.212 |
1200.931 |
|
|
|
|
|
|
TOTAL |
3678.473 |
3333.093 |
2560.025 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
4478.569 |
3853.818 |
3271.035 |
|
|
Other Income |
285.958 |
19.518 |
20.885 |
|
|
TOTAL
(A) |
4764.527 |
3873.336 |
3291.920 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in Stock-in Trade |
4731.781 |
3842.221 |
3268.100 |
|
|
Payment & Perquisites to
Employees |
1.869 |
1.962 |
1.830 |
|
|
Other expenses |
3.502 |
2.728 |
1.630 |
|
|
TOTAL
(B) |
4737.152 |
3846.911 |
3271.560 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
27.375 |
26.425 |
20.360 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.840 |
11.511 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.535 |
14.914 |
20.360 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
4.511 |
6.767 |
10.149 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
7.024 |
8.147 |
10.211 |
|
|
|
|
|
|
|
Less |
TAX (H) |
3.295 |
3.185 |
2.109 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
3.729 |
4.962 |
8.102 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
39.108 |
35.138 |
28.637 |
|
|
|
|
|
|
|
|
Adjustment of Tax of Earlier
Years |
-- |
-- |
0.107 |
|
|
|
|
|
|
|
|
Prior
Period Adjustments |
3.245 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.746 |
0.992 |
1.620 |
|
|
Balance
Carried to the B/S |
45.336 |
39.108 |
35.138 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.16 |
0.22 |
0.35 |
Expected Sales (2015-2016): Rs. 5000.000 Million
The above information has been parted by Mr. Ramesh (Accounts Officer)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from operations |
(1795.646) |
435.401 |
(172.537) |
|
|
|
|
|
|
Net Cash From Operating Activities |
(1770.455) |
453.762 |
(141.968) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.08 |
0.13 |
0.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
0.61 |
0.69 |
0.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.19 |
0.52 |
0.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
0.23 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
0.56 |
0.61 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
|
|
|
Market Value |
Rs.73.60/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
230.002 |
230.002 |
230.002 |
|
Reserves & Surplus |
348.986 |
353.948 |
360.922 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
578.988 |
583.950 |
590.924 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
133.260 |
157.516 |
|
Total
borrowings |
0.000 |
133.260 |
157.516 |
|
Debt/Equity ratio |
0.000 |
0.228 |
0.267 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3271.035 |
3853.818 |
4478.569 |
|
|
|
17.816 |
16.211 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3271.035 |
3853.818 |
4478.569 |
|
Profit |
8.102 |
4.962 |
3.729 |
|
|
0.25% |
0.13% |
0.08% |
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 |
No |
|
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
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 |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
OVERVIEW OF ECONOMY
A more robust economic performance than was earlier indicated emerges from revised data based on an updated base year, wider coverage of goods and services, and the inclusion of tax data to estimate economic activity. Real growth in India was previously estimated as a change in volume, but the new series estimates value added at each stage. The government’s initial estimates for Fiscal Year 2014 (ending 31 March 2015) shown that economic growth accelerated to 7.4%. Agriculture growth slipped to 1.1% in FY2014 largely because the monsoon was erratic, particularly affecting the summer crop. The production of food grains contracted by 3.2% from FY2013.
After growing by 4.5% in FY2013, industry accelerated to 5.9% in FY2014, helped by a 6.8% expansion in manufacturing. These estimates may be a tad optimistic, however, as they assume manufacturing growth to have
exceeded 10% in the final quarter of FY2014. Monthly industrial production estimates indicate a more modest upturn. The production of capital goods expanded after 3 years in the red. However, consumer durables continued to decline. Improved coal production helped double the growth of electricity generation over the previous year’s rate.
OVERALL PERFORMANCE AND
OUTLOOK
Gross Sales has been increased during the year in comparison to last financial year but overall Net Profit has fallen to some extent. Gross Revenue during the year was Rs.4764.527 Million in comparison to last years’ revenue of Rs.3873.336 Million whereas Net income from operations after tax remained at Rs.3.729 Million during the year in comparison to last years’ income of Rs.4.962 Million.
Outlook for coming financial year seems to be continuously challenging steep competition, import of cheap products from China and lack of demand in the market. On Capital Market front, rising in volatility and lack of retail investors participation may be a cause of concern for the company.
MANAGEMENT
DISCUSSIONS AND ANALYSIS
MACRO ECONOMIC
ENVIRONMENT
Liquidity conditions have remained broadly balanced during 2014-15. Taking into account the high volatility in call market during July-August 2014, and in order to ensure flexibility and transparency in liquidity management operations, the RBI revised its liquidity management framework which came into effect from September 5, 2014. The implementation of revised liquidity management framework helped in reducing volatility in the overnight interbank segment and anchoring the call rate near the policy repo rate better. The revised liquidity management framework helped the weighted average cut-off rates in the 14-day term repo auctions as well as in the overnight variable rate repo auctions to remain close to the repo rate. The volatility of the weighted average call rate declined.
The RBI has adopted the new Consumer Price Index (combined) as the measure of the nominal anchor (headline CPI) for policy communication. RBI kept the policy rates unchanged during this financial year till January 2015. In view of the continuing easing of inflationary pressures, on 15th January 2015, the RBI reduced the policy repo rate under the liquidity adjustment facility from 8.0 per cent to 7.75 per cent. In the latest bi-monthly policy statement announced by RBI on February 3, 2015, policy repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 7.75 per cent; the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL).However, RBI reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 22.0 per cent to 21.5 per cent of their NDTL with effect from the fortnight beginning February 7, 2015, and replaced the export credit refinance facility with the provision of system level liquidity with immediate effect as well.
REVIEW OF OPERATIONS
AND SEGMENTAL PERFORMANCE
The Revenue during the year increased but the profit margin declined due to steep competition and continuous flow of cheap software products from china market. On the other hand the Company has done well in the segment of finance and investment.
Gross Sales has been increased during the year in comparison to last financial year but overall Net Profit has fallen to some extent. Gross Revenue during the year was Rs.4764.527 Million in comparison to last years’ revenue of Rs.3873.336 Million whereas Net income from operations after tax remained at Rs.3.729 Million during the year in comparison to last years’ income of Rs.4.962 Million.
In term of Segment Results, the Company has registered Gross Sales of Rs.4478.569 Million from Software Trading and Rs.31.338 Million from Finance and Investment activities. In term of Net Profit, the Company has earned Rs.1.409 Million from Software Trading and Rs.5.615 Million from finance and investment activities.
COMPANY INFORMATION
The company is incorporated on 1st October 1992 at Calcutta, West Bengal, India. It is a Public limited company by its shares. The company operates in Capital Market and Commodity Market. The activities of the company includes trading, investing in shares and other securities and other related activities of capital market as well as Commodity Market. The Company is also doing trading activities in Mobile Software popularly known as MVAS.
UNSECURD LOANS
|
UNSECURED LOANS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
From Body Corporate |
157.516 |
133.260 |
|
|
|
|
|
Total |
157.516 |
133.260 |
STATEMENT OF UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2015
(Rs. In Million)
|
Particulars
|
Quarter Ended ( Unaudited) |
|
|
30.06.2015 |
|
|
|
|
1.
Income from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
785.195 |
|
b) Other operating income |
8.500 |
|
Total
income from Operations(net) |
793.695 |
|
2.Expenditure |
|
|
a) Cost of material consumed |
0.000 |
|
b) Purchases of stock in trade |
787.189 |
|
c) Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
0.000 |
|
d) Employees benefit expenses |
0.460 |
|
e) Depreciation and amortization expenses |
0.752 |
|
f) Other expenditure |
0.548 |
|
Total expenses |
788.949 |
|
3. Profit from operations before other income and financial
costs |
4.746 |
|
4. Other income |
0.000 |
|
5. Profit from ordinary activities before finance costs |
4.746 |
|
6. Finance costs |
3.375 |
|
7. Net profit/(loss) from
ordinary activities after finance costs but before exceptional items |
1.371 |
|
8. Exceptional
item |
0.000 |
|
9. Profit from ordinary
activities before tax Expense: |
1.371 |
|
10.Tax expenses |
0.000 |
|
11.Net Profit / (Loss) from ordinary activities
after tax (9-10) |
1.371 |
|
12.Extraordinary Items (net
of tax expense) |
0.000 |
|
13.Net Profit / (Loss) for
the period (11 -12) |
1.371 |
|
14.Paid-up equity share capital (Nominal
value Rs.10/- per share) |
230.002 |
|
15. Reserve excluding Revaluation Reserves as per balance sheet of
previous accounting year |
-- |
|
16.i) Earnings per share
(before extraordinary items) of Rs.10/- each) (not annualised): |
|
|
(a) Basic |
0.06 |
|
(b) Diluted |
0.06 |
|
Particulars
|
Quarter Ended ( Unaudited) |
|
|
30.06.2015 |
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
17440800 |
|
- Percentage of shareholding |
75.83 |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
50000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
0.90 |
|
Percentage of shares (as a % of total share capital of the
company) |
0.22 |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
5509400 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
99.10 |
|
|
23.95 |
|
Percentage of shares (as a % of total share capital of the
company) |
|
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
NIL |
|
Receiving during the quarter |
NIL |
|
Disposed of during the quarter |
NIL |
|
Remaining unreserved at the end of the quarter |
NIL |
UN-AUDITED SEGMENT
RESULTS FOR THE QUARTER ENDED 30TH JUNE 2015
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2015 |
|
Segment Revenue |
|
|
Sale of Software and Hardware / Mobile |
785.195 |
|
Investment Activities |
8.500 |
|
Other Operational Activities |
0.000 |
|
Total Income from Operations |
793.695 |
|
|
|
|
Segment
Profit/(Loss) before Interest and Tax |
|
|
Sale of Software and Hardware / Mobile |
0.300 |
|
Investment Activities |
1.071 |
|
Other Unallocable Activities |
0.000 |
|
Profit before Tax |
1.371 |
|
|
|
|
Capital Employed |
|
|
Software and Hardware / Mobile |
528.100 |
|
Investment Activities |
3351.400 |
|
Other Unallocable Activities |
8.272 |
|
Total |
3887.772 |
NOTES
1. Above results were reviewed by Audit Committee taken on record in Board Meeting held on 14th August, 2015.
2. Provision for taxation will be made end of the Financial Year.
*3. The figures of preceding Quarter ended 31st March 2015 are the balancing figures between Audited figures in respect of full financial year and the published year to date figures upto the 3rd Quarter of the Previous Financial Year.
4. The Auditors of the Company have carried out "Limited Review" of the above financial Results.
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. 66.61 |
|
|
1 |
Rs. 102.30 |
|
Euro |
1 |
Rs. 74.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.