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|
|
MIRA INFORM REPORT
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Report No. : |
495293 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SILVER TOUCH TECHNOLOGIES LIMITED (w.e.f.13.10.2004) |
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Formerly Known
As : |
SILVER TOUCH COMPUTERS LIMITED (w.e.f.05.02.2004) SILVER TOUCH COMPUTERS PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, Saffron,
Near Panchwati Circle, Ambawadi, Ahmedabad – 380006, Gujarat |
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Tel. No.: |
91-79-26563158/ 40022774/ 75/ 76 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
02.02.1995 |
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Com. Reg. No.: |
04-024465 |
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|
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Capital
Investment / Paid-up Capital : |
INR 55.950 Million |
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|
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CIN No.: [Company Identification
No.] |
U72200GJ1995PLC024465 |
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IEC No.: |
0899010024 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AACCS6474P |
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|
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GST No.: |
24AACCS6474P1ZR |
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TIN No.: |
24073500724 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
· Trader and Importer of Computer Hardware and also engaged into Providing IT Solution, Offshore Software Development, E-Governance BPO Services. (Confirmed by Management) · Subject operates predominantly related to Computers and IT Services. [Registered Activity] |
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|
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1995 and it is having good track records. It is engaged in providing IT solutions such as hardware, software and network integration to various state as well as central government authorities. For the financial year 2017, the company has marginal declined in its revenue from operations as compared to previous year and maintained average profitability margin of 3.55%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its well-qualified and experienced promoters, long track record of operations with diversified & reputed customer base and improvement in the profitability profile during the year. However, rating strength is partially offset by exposure to risk associated with Government projects and its presence in an intensely competitive Information Technology (IT) segment. Trade relations are reported as fair. Business is active. Payment terms are seems to be regular. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. (Note- the company has issued IPO in November 2017. Issue was opened for subscription on 20.11.17 and was closed on 23.11.17. Post allotment, shares were listed on NSE SME Emerge.) |
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 |
BRICKWORKS |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
31.05.2017 |
|
Rating Agency Name |
BRICKWORKS |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
31.05.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Paulin Shah |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-9825047108 |
|
Date : |
03.03.2018 |
LOCATIONS
|
Registered / Head Office : |
2nd Floor, Saffron, Near
Panchwati Circle, Ambawadi, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26563158/ 40022774/ 75/ 76 |
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Mobile No.: |
91-9825047108 (Mr. Paulin Shah) |
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Fax No.: |
91-79-26561624 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Branch Office 1: |
Office No. 321, 322, 323, 418, Somdutt Chambers-II, 9 Bhikaji Cama Place, New Delhi – 110066, India |
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Tel. No.: |
91-11-41020470 |
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Fax No.: |
91-11-41020471 |
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Branch Office 2: |
DBS Business Center, Office Suite No. 249, 2nd Floor,
Raheja Chambers, |
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Tel. No.: |
91 22-40509209 |
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Fax No.: |
91 22-40509200 |
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Support Offices: |
Located at: · Lucknow · Baroda · Surat · Kolkata ·
Bangalore |
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International Offices : |
Located at: · North America · Australia · Sweden · United Kingdom · France |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Vipul Haridas Thakkar |
|
Designation : |
Managing Director |
|
Address : |
19.Netra Bunglow Near, Seema Saurabh Society, Memnakar Fire Station Memngar, Ahmedabad -380052, Gujarat, India |
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Date of Birth/Age : |
21.09.1970 |
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Qualification : |
B.E., MBA |
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Date of Appointment : |
02.02.1995 |
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PAN No.: |
ABVPT8027A |
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DIN No.: |
00169558 |
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Name : |
Mr. Jignesh Amritlal Patel |
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Designation : |
Whole-Time Director |
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Address : |
5,Sadhna Colony, Navjivan, Navrangpura, Ahmedabad - 380009, Gujarat, India |
|
Date of Birth/Age : |
15.05.1971 |
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Qualification : |
B.E. |
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Date of Appointment : |
02.02.1995 |
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PAN No.: |
ABXPP2283Q |
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DIN No.: |
00170562 |
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Name : |
Mr. Palak Vinubhai Shah |
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Designation : |
Whole-Time Director |
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Address : |
34, Yogeshwar Bunglows, Opposite Kalindi Bunglows, Nandakunj Society, Near. Sola Over Bridge, Thaltej, Ahmedabad - 380054, Gujarat, India |
|
Date of Birth/Age : |
20.12.1970 |
|
Date of Appointment : |
06.10.2006 |
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PAN No.: |
AFXPS5699R |
|
DIN No.: |
00306082 |
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|
|
|
Name : |
Mr. Minesh Vinodchandra Doshi |
|
Designation : |
Whole-time director |
|
Address : |
1, Sadhna Colony Navjivan, Navrangpura, Ahmedabad-380009, Gujarat, India |
|
Date of Birth/Age : |
23.11.1970 |
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Qualification : |
B.E. (Computer) |
|
Date of Appointment : |
06.10.2006 |
|
PAN No.: |
AEHPD1881M |
|
DIN No.: |
00306106 |
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|
|
|
Name : |
Mr. Himanshu Jain |
|
Designation : |
Whole-Time Director |
|
Address : |
32, Sukhdev, Vihar, New Delhi - 110025, India |
|
Date of Birth/Age : |
10.05.1969 |
|
Qualification : |
Diploma (Eng.) |
|
Date of Appointment : |
19.07.2010 |
|
PAN No.: |
AALPJ3069K |
|
DIN No.: |
00454477 |
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|
|
|
Name : |
Mrs. Gayatri Mukul Doctor |
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Designation : |
Director |
|
Address : |
4 Anandmayi Soc, Drive In Road, Thaltej, Ahmedabad-380054, Gujarat, India |
|
Date of Appointment : |
06.04.2017 |
|
DIN No.: |
02012395 |
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|
|
|
Name : |
Mr. Ronak Sudhirbhai Shah |
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Designation : |
Director |
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Address : |
B / 3, Dipkunj Flats, Opposite Purnanand Ashram, Navjivan Post, Ahmedabad -380014, Gujarat, India |
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Date of Birth/Age : |
05.10.1973 |
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Qualification : |
ACS |
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Date of Appointment : |
01.10.2008 |
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DIN No.: |
02292044 |
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|
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Name : |
Mr. Harivadan Prabhashankar Thakar |
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Designation : |
Director |
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Address : |
10, Vijayvihar Co-Operative housing Society, St. Xaviers Road Navrangpura, Ahmedabad - 380009, Gujarat, India |
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Date of Birth/Age : |
25.05.1952 |
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Qualification : |
B.Com., LLB |
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Date of Appointment : |
01.10.2008 |
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DIN No.: |
02466067 |
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|
|
|
Name : |
Mr. Vijaykumar Kantilal Shah |
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Designation : |
Wholetime Director |
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Address : |
C/23, Swastik Park Opp. Chief Justice Bungalow, Bodakdev, Ahmedabad-380054, Gujarat, India |
|
Date of Appointment : |
01.06.2017 |
|
DIN No.: |
06792172 |
KEY EXECUTIVES
|
Name : |
Mr. Ranish Shah |
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Designation : |
Secretary |
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Address : |
34, Yogeshwar Bunglows, Opposite Kalindi Bunglows, Nandakunj Soc., Near Sola Over Bridge, Thaltej, Ahmedabad - 380006, Gujarat, India |
|
Date of Appointment : |
06.04.2017 |
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PAN No.: |
BYSPS7445C |
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|
|
|
Name : |
Mr. Dipesh Hasmukhbhai Solanki |
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Designation : |
Company Secretary |
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Address : |
17/ Jalnath Society, Near Komal Enclave Flat P.T. College Road, Paldi, Ahmedabad-380007, Gujarat, India |
|
Date of Appointment : |
05.10.2017 |
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PAN No.: |
BYIPM6497G |
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|
Name : |
Mr. Paulin Shah |
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Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Vipul Haridas Thakkar |
|
1818755 |
|
Jignesh Amritlal Patel |
|
1801855 |
|
Kajal Vipul Thakkar |
|
245100 |
|
Jolly Jignesh Patel |
|
262000 |
|
Haridas Karshandas Thakkar |
|
700 |
|
Amritlal Kalidas Patel |
|
350 |
|
Manjulaben Amritlal Patel |
|
350 |
|
Minesh Vinodchandra Doshi |
|
963290 |
|
Palak Vinubhai Shah |
|
392600 |
|
Varsha Minesh Doshi |
|
55000 |
|
Zankhana Palak Shah |
|
55000 |
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|
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|
|
Total |
|
5595000 |
AS ON: 01.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Trader and Importer of Computer Hardware and also engaged into Providing IT Solution, Offshore Software Development, E-Governance BPO Services. (Confirmed by Management) · Subject operates predominantly related to Computers and IT Services. [Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Computer Hardware |
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Countries : |
· China · Belgium |
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Terms : |
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Selling : |
Cash, Advance Payment, L/ C and Others [NEFT/ RTGS] |
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Purchasing : |
Cash, Advance Payment, L/ C and Others [NEFT/ RTGS] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler and Retailers
· BSNL · Tata Teleservices Limited · SJUN · NHPC · Hitachi, etc. |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Ambalal Patel and Company Chartered Accountants |
|
Address : |
1st Floor, Sapphire Business Center, Above SBI Vadaj
Branch, Usmanpura, Ashram Road, Ahmedabad – 380013, Gujarat, India |
|
PAN No.: |
AABFA3490K |
|
|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Subsidiaries
Companies : |
· Silvertouch Technology (UK) Limited ·
Silvertouch Technologies Inc. |
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|
|
|
Associate Companies
: |
·
Shark Identity Private Limited ·
Silvertouch Technologies B.V. · Lime Software (UK) |
|
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|
|
Enterprise over
which Key Management Personnel and their relative exercise significant
Influence with whom transaction have taken place during the year : |
· Silvertouch Infotech Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5595000 |
Equity Shares |
INR 10/- each |
INR 55.950
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
55.950 |
55.950 |
55.950 |
|
(b) Reserves & Surplus |
362.977 |
324.255 |
297.612 |
|
(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) |
418.927 |
380.205 |
353.562 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
30.646 |
47.523 |
94.703 |
|
(b) Deferred tax liabilities (Net) |
8.090 |
8.176 |
12.181 |
|
(c)
Other long term liabilities |
5.308 |
5.965 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
44.044 |
61.664 |
106.884 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
118.374 |
169.614 |
126.612 |
|
(b)
Trade payables |
53.429 |
306.100 |
103.968 |
|
(c)
Other current liabilities |
78.379 |
103.774 |
122.456 |
|
(d)
Short-term provisions |
35.664 |
38.534 |
29.932 |
|
Total
Current Liabilities (4) |
285.846 |
618.022 |
382.968 |
|
|
|
|
|
|
TOTAL |
748.817 |
1059.891 |
843.414 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
165.456 |
162.309 |
151.727 |
|
(ii)
Intangible Assets |
1.626 |
1.720 |
2.660 |
|
(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 |
1.306 |
0.156 |
0.156 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
29.616 |
25.145 |
26.041 |
|
(e)
Other Non-current assets |
31.023 |
46.574 |
61.993 |
|
Total
Non-Current Assets |
229.027 |
235.904 |
242.577 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
16.510 |
55.857 |
54.500 |
|
(c)
Trade receivables |
340.330 |
603.954 |
367.351 |
|
(d)
Cash and cash equivalents |
56.212 |
51.437 |
67.834 |
|
(e)
Short-term loans and advances |
106.738 |
112.739 |
111.152 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
519.790 |
823.987 |
600.837 |
|
|
|
|
|
|
TOTAL |
748.817 |
1059.891 |
843.414 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1186.072 |
1382.442 |
1148.377 |
|
|
|
Other Income |
12.663 |
16.977 |
8.947 |
|
|
|
TOTAL |
1198.735 |
1399.419 |
1157.324 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
443.365 |
720.658 |
683.034 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
39.347 |
(1.357) |
(27.673) |
|
|
|
Employees benefits expense |
437.519 |
438.264 |
265.503 |
|
|
|
Other expenses |
140.996 |
108.334 |
105.432 |
|
|
|
CSR Expenditure |
1.130 |
2.310 |
0.311 |
|
|
|
TOTAL |
1062.357 |
1268.209 |
1026.607 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
136.378 |
131.210 |
130.717 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.382 |
31.347 |
27.580 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
104.996 |
99.863 |
103.137 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
43.766 |
54.807 |
68.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
61.230 |
45.056 |
34.375 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.141 |
15.046 |
13.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
42.089 |
30.010 |
21.132 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Services |
78.273 |
115.763 |
NA |
|
|
|
Others |
0.956 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
79.229 |
115.763 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials, spare parts and components |
0.745 |
0.656 |
NA |
|
|
TOTAL IMPORTS |
0.745 |
0.656 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
7.52 |
5.36 |
3.78 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
8.752 |
7.860 |
20.402 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
124.361 |
49.050 |
(14.213) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
104.73 |
159.46 |
116.76 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.49 |
2.29 |
3.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
43.99 |
155.03 |
55.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
8.26 |
2.35 |
2.40 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.82 |
0.80 |
0.85 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.43 |
0.64 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.38 |
0.59 |
0.68 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.68 |
1.63 |
1.08 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.40 |
0.43 |
0.44 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.35 |
4.19 |
4.74 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.55 |
2.17 |
1.84 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.62 |
2.83 |
2.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.05 |
7.89 |
5.98 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.82 |
1.33 |
1.57 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.76 |
1.24 |
1.43 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.56 |
0.36 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.82 |
4.02 |
4.32 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.82 |
1.33 |
1.57 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
55.950 |
55.950 |
55.950 |
|
Reserves & Surplus |
297.612 |
324.255 |
362.977 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
353.562 |
380.205 |
418.927 |
|
|
|
|
|
|
long-term borrowings |
94.703 |
47.523 |
30.646 |
|
Short term borrowings |
126.612 |
169.614 |
118.374 |
|
Current Maturities of Long
term debt |
20.402 |
7.860 |
8.752 |
|
Total
borrowings |
241.717 |
224.997 |
157.772 |
|
Debt/Equity
ratio |
0.684 |
0.592 |
0.377 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
1148.377 |
1382.442 |
1186.072 |
|
|
|
20.382 |
(14.205) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
1148.377 |
1382.442 |
1186.072 |
|
Profit/ (Loss) |
21.132 |
30.010 |
42.089 |
|
|
1.84% |
2.17% |
3.55% |
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 |
Yes |
|
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 |
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 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G01382126 |
10527697 |
BANK OF INDIA |
01/10/2014 |
10/03/2016 |
- |
348900000.0 |
ELLISBRIDGE BRANCHOPP TOWN HALL, ELLISBRIDGEAHMEDABADGJ380006IN |
|
2 |
B68323187 |
10403512 |
BANK OF INDIA |
18/01/2013 |
- |
- |
198000.0 |
ELLISBRIDGE BRANCHOPP TOWN HALL ELLISBRIDGEAHMEDABADGJ380006IN |
|
3 |
B65782294 |
10396682 |
BANK OF INDIA |
28/12/2012 |
- |
- |
735000.0 |
ELLISBRIDGE BRANCHOPP TOWN HALL ELLISBRIDGEAHMEDABADGJ380006IN |
|
4 |
A95641957 |
10244039 |
ICICI BANK LIMITED |
28/09/2010 |
- |
- |
5000000.0 |
JMC HOUSENR. PARIMAL GARDENAHMEDABADGJ380006IN |
|
5 |
B31536253 |
10244035 |
ICICI BANK LIMITED |
28/09/2010 |
14/12/2011 |
- |
20500000.0 |
J M C HOUSE BRANCHAHMEDABADGJ380006IN |
|
6 |
C14683106 |
10244038 |
ICICI BANK LIMITED |
28/09/2010 |
09/07/2014 |
- |
15500000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
7 |
G01348382 |
10041957 |
BANK OF INDIA |
12/03/2007 |
10/03/2016 |
- |
348900000.0 |
ELLISBRIDGE BRANCHOPP TOWN HALL, ELLISBRIDGEAHMEDABADGJ380006IN |
|
8 |
G01348853 |
10041956 |
BANK OF INDIA |
12/03/2007 |
10/03/2016 |
- |
348900000.0 |
ELLISBRIDGE BRANCHOPP TOWN HALL, ELLISBRIDGEAHMEDABADGJ380006IN |
|
9 |
G58710286 |
10493297 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
19/05/2014 |
- |
23/10/2017 |
7069999.0 |
2ND FLOOR, BRIGADE SOUTH PARADE10, M.G. ROADBANGALOREKA560001IN |
|
10 |
G58712043 |
10507736 |
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED |
03/07/2014 |
- |
23/10/2017 |
4348990.0 |
2ND FLOOR, BRIGADE SOUTH PARADE10, M.G. ROADBANGALOREKA560001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
11.289 |
10.348 |
|
Loans repayable on demand from others |
3.839 |
8.393 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
4.930 |
0.000 |
|
|
|
|
|
Total |
20.058 |
18.741 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Bank of India |
158.899 |
182.089 |
|
IDBI Bank |
4.414 |
0.000 |
|
ICICI Bank |
15.078 |
12.969 |
|
The above bank guarantees are issued by Bank of India
against 15% margin and ICICI bank against 15% margin in the form of Bank FO
& 100% margin for bank Guarantee issued by IDBI Bank |
||
REVIEW OF OPERATIONS AND FUTURE
PROSPECTS:
The Company has achieved total income from business operations of INR 1186.072 million during the year which is 16.56% lower than that of the previous year. This is attributed to overall economic slowdown, demonetization, global uncertainty etc. The Company has however earned significantly higher Net Profit after Taxes of INR 42.089 million, which is 28.70% higher than the previous year. The Company is expanding its area of services in international markets and segments with innovative products and software and allied services in order to achieve greater economies of scale, improved margins and to gain untapped market for Company's services and products.
The Company had undergone a review of its Credit Rating through Brickworks Rating Agency and the Company's rating has been reaffirmed as 'BWR BBB+' (pronounced as Triple B plus) which means that the Company's business risk profile is 'Stable' and will be maintained over the medium term. Overall, the Company has continued to enjoy the support and trust of its clients and other stakeholders which has lead to such steady growth during this fiscal year.
FIXED ASSETS:
· Building
· Plant and Equipment
· Furniture and Fixture
· Vehicles
· Office Equipment
· 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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records 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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.05 |
|
UK Pound |
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.