MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	500936
Report Date :	30.03.2018

IDENTIFICATION DETAILS

Name :	ORIENTAL AUTOMATION SYSTEMS PRIVATE LIMITED

Registered Office :	D/102, Dheeraj Heritage Residency-II, Shastri Nagar, Near Milan Subway, Santacruz (West), Mumbai – 400054, Maharashtra
Tel. No.:	91-80-23216166

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	25.10.2012

Com. Reg. No.:	11-237213

Capital Investment / Paid-up Capital :	INR 0.100 Million

CIN No.: [Company Identification No.]	U29253MH2012PTC237213

IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

GSTN : [Goods & Service Tax Registration No.]	Not Divulged

PAN No.: [Permanent Account No.]	AABCO8076G

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in total automation solutions provider. (Registered activity) Manufactures, Traders, buyers, sellers exporters, importers, marketers, dealers, processors, repairs, erectors, engineers, consultants, representative, designers in all types of engineering products including process engineering, system engineering, control engineering, software engineering, system control engineering and to produce or market DSC/PLC systems, DAS, SCADA packages and to manufacture all types of product and equipments requires for the same. (As per memorandum of association)

No. of Employees :	Information declined by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject was incorporated in the year 2012. It is engaged in providing total automation solutions. For the financial year 2017, the company reported a dip in its revenue by 16.76% as compared to the previous year but has managed to maintain low profit margin of 0.16%. The moderate financial profile of the company is marked by modest networth base along with negligible debt level. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution.

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2016.

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 30.03.2018

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 DENIED

MANAGEMENT NON-COOPERATIVE: TEL. No.: 91-80-23216166

LOCATIONS

Registered Office :	D/102, Dheeraj Heritage Residency-II, Shastri Nagar, Near Milan Subway, Santacruz (West), Mumbai – 400054, Maharashtra, India
Tel. No.:	91-22-26601970
Fax No.:	Not Available
E-Mail :	ansari@visionorg.net
Website :	http://oaspl.com

Branch Office :	Shree Sai Sukrutha Complex, #181, 2nd Floor, Outer Ring Road Opposite BDA Complex, Bangalore – 560072, Karnataka, India
Tel. No.:	91-80-23216166
Fax No.:	91-80-23186535
E-Mail :	sales@oaspl.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Vali Najmuddin Mithiborwala

Designation :

Director

Address :

1001/1002, Tapovan CHS Limited. 65, J. K. Mehta Marg, Near Poddar Education Complex, Santacruz West, Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

06.11.1964

Date of Appointment :

25.10.2012

DIN No.:

00171255

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L02005MH1991PLC060686	ORIENTAL VENEER PRODUCTS LIMITED	18/08/2017	-
L02005MH1991PLC060686	ORIENTAL VENEER PRODUCTS LIMITED	27/09/2017	-
U02000MH1997PTC105057	V K MITHIBORWALA AND COMPANY PRIVATE LIMITED	30/09/2017	-
U20211GJ1997PTC031958	TRISHALA VEENER PRIVATE LIMITED	01/09/2008	-
U20299GJ1997PTC032639	TRISHALA WOODCRAFT PRIVATE LIMITED	27/07/2014	-
U27310MH2014PTC256609	ORIENTAL FOUNDRY PRIVATE LIMITED	25/07/2014	-
U29299MH1998PTC283896	CONTROL AND SOLUTIONS INDIA PRIVATE LIMITED	12/01/2001	-
U35999MH2006PTC164296	ORIENTAL TECHNOCRAFT PRIVATE LIMITED	04/09/2006	-
U45200MH1994PTC076196	VIRTUE INFRASTRUCTURES PRIVATE LIMITED	25/09/2009	-

Name :

Mr. Ramesh Venkitachalam Nilakantaiyer

Designation :

Director

Address :

# Flat # 302, Block C, Skyline R. K. Atlantis, Old Madras Road, K. R. Puram, Bangalore-560016, Karnataka, India

Date of Appointment :

30.09.2017

DIN No.:

06895322

Other Directorship:

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares	%age
Vali N Mithiborwala	9000	90.00
Shobha Saripalli	1000	10.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	90.00
Public – (Individual/ Hindu Undivided Family – Indian	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in total automation solutions provider. (Registered activity)

Manufactures, Traders, buyers, sellers exporters, importers, marketers, dealers, processors, repairs, erectors, engineers, consultants, representative, designers in all types of engineering products including process engineering, system engineering, control engineering, software engineering, system control engineering and to produce or market DSC/PLC systems, DAS, SCADA packages and to manufacture all types of product and equipments requires for the same. (As per memorandum of association)

Products :

Item Code No.	Product Description
6202	Computer consultancy and computer facilities management activities

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Not Divulged
Branch	--
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :
Name :	Vinod Agarwal Chartered Accountant
Address :	A-603/15D, Kalpak, S.M. Road, Antop Hill, Mumbai-400037, Maharashtra, India
Mobile No.:	91-9321122240
Email :	viprorh@hotmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	ADJPA3869K

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	INR 10/- each	INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	0.127	0.083	0.035
(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)	0.227	0.183	0.135

(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	9.983	8.193	9.415
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	32.756	26.664	22.451
(d) Short-term provisions	0.325	0.382	0.319
Total Current Liabilities (4)	43.064	35.239	32.185

TOTAL	43.291	35.422	32.320

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(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	0.000	0.000	0.000

(2) Current assets
(a) Current investments	0.001	0.000	0.000
(b) Inventories	7.373	9.084	7.963
(c) Trade receivables	23.667	15.096	15.519
(d) Cash and cash equivalents	4.594	5.158	3.466
(e) Short-term loans and advances	7.656	6.084	5.372
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	43.291	35.422	32.320

TOTAL	43.291	35.422	32.320

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	27.639	33.204	23.495
	Other Income	0.361	0.372	0.034
	TOTAL	28.000	33.576	23.529

Less	EXPENSES
	Cost of Materials Consumed	18.591	23.037	15.511
	Employees benefits expense	3.895	4.406	4.057
	Other expenses	5.324	5.877	3.510
	TOTAL	27.810	33.320	23.078

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.190	0.256	0.451

Less	FINANCIAL EXPENSES	0.127	0.186	0.416

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.063	0.070	0.035

Less/ Add	DEPRECIATION/ AMORTISATION	0.000	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX	0.063	0.070	0.035

Less	TAX	0.019	0.022	0.011

	PROFIT/ (LOSS) AFTER TAX	0.044	0.048	0.024

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	0.083	0.035	0.011

	Balance Carried to the B/S	0.127	0.083	0.035

	Earnings / (Loss) Per Share (INR)	4.40	4.80	2.40

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	312.55	165.95	241.09

Account Receivables Turnover (Income / Sundry Debtors)	1.17	2.20	1.51

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00	0.00

Inventory Turnover (Operating Income / Inventories)	0.03	0.03	0.06

Asset Turnover (Operating Income / Net Fixed Assets)	0.00	0.00	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.99	0.99	1.00

Debt Equity Ratio (Total Liability / Networth)	43.98	44.77	69.74

Current Liabilities to Networth (Current Liabilities / Net Worth)	189.71	192.56	238.41

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.00	0.00

Interest Coverage Ratio (PBIT / Financial Charges)	1.50	1.38	1.08

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.16	0.14	0.10

Return on Total Assets ((PAT / Total Assets) * 100)	%	0.10	0.14	0.07

Return on Investment (ROI) ((PAT / Networth) * 100)	%	19.38	26.23	17.78

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.01	1.01	1.00

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.83	0.75	0.76

G-Score Ratio Financial (Networth / Total Assets)	0.01	0.01	0.00

G-Score Ratio Debt (Debts / Equity Capital)	99.83	81.93	94.15

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.01	1.01	1.00

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are 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	0.100	0.100	0.100
Reserves & Surplus	0.035	0.083	0.127
Net worth	0.135	0.183	0.227

Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	9.415	8.193	9.983
Total borrowings	9.415	8.193	9.983
Debt/Equity ratio	69.741	44.770	43.978

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	23.495	33.204	27.639
		41.324	(16.760)

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	23.495	33.204	27.639
Profit	0.024	0.048	0.044
	0.10%	0.14%	0.16%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
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	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NATURE OF OPERATIONS

Subject is engaged in total automation solutions provider.

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR:

During the year under review, the aggregate revenues of the Company have decreased to INR 28.000 Million as against INR 33.577 Million - for the previous year. AIso the profit after tax for the current year has decreased to INR 0.043 Million as compared to profits of. INR 0.048 Million during the previous financial year. The Management is continuously taking efforts to keep the pace to have profitable track record. The Management is hopeful to have better results in coming years also.

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Short-term borrowings
Loan from Others :
Vali N. Mithiborwala (Director)	0.040	0.040
Tawakkal Wood Products Private Limited	9.943	8.153
Total	9.983	8.193

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

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 65.04
UK Pound	1	INR 92.28
Euro	1	INR 80.62

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	VRS

Report Prepared by :	SUJ

SCORE FACTORS

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	NO
--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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.