|
|
|
MIRA INFORM REPORT
|
Report No. : |
504390 |
|
Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PALRED ONLINE TECHNOLOGIES PRIVATE LIMITED
(w. e. f. 24.09.2014) |
|
|
|
|
Formerly Known
As : |
PALPREMIUM
ONLINE MEDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H. No. 8-2-703/2/B, Plot.No.2, Road.No.12, Banjara Hill, Hyderabad – 500034, Telangana |
|
Tel. No.: |
91-40-67138810 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.03.2011 |
|
|
|
|
Com. Reg. No.: |
36-073292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 309.831 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22222TG2011PTC073292 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP9938G |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
36AAFCP9938G1ZY |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
|
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 76500 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is Subsidiary of “ Palred Technology Services Private Limited,
India” incorporated in the year 2011 and it is engaged as manufacturer,
trader, Importer and Supplier of VGA Cables, VGA Converters, VGA to RCA
Cables, DVI Cables, DVI Converters, etc. For the financial year 2017, the company has achieved decent growth in
its revenue as compared to its previous year but has incurred loss during the
year. The company possesses moderate financial risk profile marked by
negative reserve level which has resulted into low net worth base. Rating further gets constrained on account of continuous losses
incurred by the company due to its presence in highly competitive cable
industry. However, these rating strengths gets partially offset by its strong
financial support via equity infusion by its parent company. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealing 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 |
A1 |
A1 |
|
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
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
31-03-2018.
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 08.05.2018
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. Rasesh Patel |
|
Designation : |
Manager |
|
Contact No.: |
91-40-46659931 |
|
Date : |
03.05.2018 |
LOCATIONS
|
Registered Office/ Branch Address : |
H. No. 8-2-703/2/B, Plot.No.2, Road.No.12, Banjara Hill, Hyderabad – 500034, Telangana, India |
|
Tel. No.: |
91-40-67138810/46659931 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Srikanth Palem Reddy |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
H.No.180, Road No. 7C Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India |
||||||||||||||||||||
|
Date of Birth/Age : |
28.08.1963 |
||||||||||||||||||||
|
Qualification : |
Post Graduate |
||||||||||||||||||||
|
Date of Appointment : |
15.03.2011 |
||||||||||||||||||||
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PAN No.: |
AAMPP9497N |
||||||||||||||||||||
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DIN No.: |
00025889 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Ameen Khwaja |
||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||
|
Address : |
Flat No.4B, Subhodaya Apartments, Boggulkunta, ABIDS, Hyderabad – 500001, Telangana, India |
||||||||||||||||||||
|
Date of Birth/Age : |
13.06.1980 |
||||||||||||||||||||
|
Qualification : |
Post Graduate |
||||||||||||||||||||
|
Date of Appointment : |
14.11.2014 |
||||||||||||||||||||
|
PAN No.: |
ARFPK4315A |
||||||||||||||||||||
|
DIN No.: |
00800284 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Sribhashyam Vijaya Saradhi |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
H. No. 3-3, Flat No. 201, Road No. 6, Venkateshwara Colony, Saroor Nagar, Hyderabad – 500035, Telangana, India |
||||||||||||||||||||
|
Date of Birth/Age : |
06.10.1959 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
24.08.2014 |
||||||||||||||||||||
|
PAN No.: |
ADPPS0683M |
||||||||||||||||||||
|
DIN No.: |
03089889 |
||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Murthy Mulugu Venkata Lakshmi Narasimha |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
6-87, Bhavanipuram Near NSL Colony, Ameenapur, Medak - 502032 Telangana, India |
||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1973 |
||||||||||||||||||||
|
Qualification : |
Post Graduate |
||||||||||||||||||||
|
Date of Appointment : |
14.11.2014 |
||||||||||||||||||||
|
PAN No.: |
AKGPM8616A |
||||||||||||||||||||
|
DIN No.: |
07010804 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Harish Naidu Pinekalapati |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Flat No.118, Amrutha Hills, Satyamma Gardens, Manikonda, Rajendra Nagar, Ranga Reddy, Hyderabad - 500089, Telangana, India |
||||||||||||||||||||
|
Date of Birth/Age : |
05.06.1983 |
||||||||||||||||||||
|
Qualification : |
Chartered Accountant |
||||||||||||||||||||
|
Date of Appointment : |
14.11.2014 |
||||||||||||||||||||
|
PAN No.: |
COAPP1465C |
||||||||||||||||||||
|
DIN No.: |
07010812 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Yeluripati Venkata Ratna Srinivas |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Flat No. 201, Sai Jyothi Residency, Opposite Electrical Sub Huda Colony, Chanda Nagar, Hyderabad – 500050, Telangana, India |
||||||||||||||||||||
|
Date of Birth/Age : |
26.02.1970 |
||||||||||||||||||||
|
Date of Appointment : |
14.11.2014 |
||||||||||||||||||||
|
DIN No.: |
07297254 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rasesh Patel |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Palem Srikanth Reddy |
|
5099990 |
|
Ameen Khwaja |
|
1000010 |
|
Palred Technologies Limited |
|
23939130 |
|
Murthy Mulugu Venkata Lakshmi Narasimha |
|
200000 |
|
Harish Naidu Pinekalapati |
|
100000 |
|
Total |
|
30339130 |
|
Names of
Shareholders (7% Non-cumulative Redeemable Non-Convertible Preference Shares) |
|
No. of Shares |
|
Palred Online Technologies Private Limited – Employees Welfare trust |
|
1200000 |
|
Total |
|
1200000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter (Individual/ Hindu Undivided
Family – Indian) |
16.17 |
|
Promoter (Bodies
corporate) |
75.90 |
|
Public/ Other than Promotor (Individual/ Hindu Undivided Family –
Indian) |
4.12 |
|
Public/ Other than Promotor (Others
- Trust) |
3.81 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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||||||||
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Exports : |
Not Divulged |
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|
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|
||||||||
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Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
|
Countries : |
China |
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|
|
|
||||||||
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Terms : |
|
||||||||
|
Selling : |
Others (NEFT and RTGS) |
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|
|
|
||||||||
|
Purchasing : |
Others (NEFT and RTGS) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
||||||||||||||||||||||
|
Customers : |
Manufacturers
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
350 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
|
Address : |
7Th Floor, Block III, White House, Kundanbagh, Begumpet, Hyderabad, Telangana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
· Palred Technologies Limited (CIN No: L72200AP1999PLC033131) |
|
|
|
|
Fellow Subsidiary
company: |
· Palred Technology Services Private Limited |
CAPITAL STRUCTURE
As on 28.09.2017
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41000000 |
Equity Shares |
INR 10/- each |
INR 410.000 Million |
|
2000000 |
Preference Shares |
INR 10/- each |
INR 20.000 Million |
|
|
Total |
|
INR 430.000
Million |
Issued, Subscribed Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31539130 |
Equity Shares |
INR 10/- each |
INR 315.391
Million |
|
2000000 |
Preference Shares |
INR 10/- each |
INR 20.000 Million |
|
|
Total |
|
INR 335.391
Million |
Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29376130 |
Equity Shares |
INR 10/- each |
INR 293.761
Million |
|
2000000 |
Preference Shares |
INR 10/- each |
INR 20.000 Million |
|
|
Total |
|
INR 313.761
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 |
313.761 |
246.913 |
139.957 |
|
(b) Reserves and Surplus |
(286.970) |
(206.128) |
(2.783) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
183.087 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
26.791 |
223.872 |
137.174 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.114 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.398 |
0.255 |
0.074 |
|
Total Non-current
Liabilities (3) |
0.398 |
0.255 |
0.188 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
31.820 |
22.762 |
9.227 |
|
(c) Other
current liabilities |
30.290 |
102.356 |
9.731 |
|
(d) Short-term
provisions |
0.001 |
0.001 |
0.000 |
|
Total Current
Liabilities (4) |
62.111 |
125.119 |
18.958 |
|
|
|
|
|
|
TOTAL |
89.300 |
349.246 |
156.320 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7.642 |
7.646 |
2.380 |
|
(ii)
Intangible Assets |
2.067 |
2.564 |
1.159 |
|
(iii) Tangible assets
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 loans and advances |
10.033 |
3.592 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
19.742 |
13.802 |
3.539 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
246.851 |
87.541 |
|
(b)
Inventories |
41.706 |
56.088 |
46.620 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and
bank balances |
0.984 |
15.601 |
6.831 |
|
(e)
Short-term loans and advances |
5.752 |
6.067 |
6.011 |
|
(f) Other
current assets |
21.116 |
10.837 |
5.778 |
|
Total
Current Assets |
69.558 |
335.444 |
152.781 |
|
|
|
|
|
|
TOTAL |
89.300 |
349.246 |
156.320 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
410.672 |
380.993 |
69.325 |
|
|
Other Income |
2.316 |
6.984 |
3.041 |
|
|
TOTAL |
412.988 |
387.977 |
72.366 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
150.420 |
152.706 |
66.702 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
16.073 |
(9.469) |
(46.620) |
|
|
Employee benefit expense |
38.634 |
26.605 |
31.149 |
|
|
Other expenses |
290.748 |
408.105 |
58.948 |
|
|
TOTAL |
495.875 |
577.947 |
110.179 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(82.887) |
(189.970) |
(37.813) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
3.787 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(82.887) |
(193.757) |
(37.813) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.965 |
2.745 |
0.718 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(87.852) |
(196.502) |
(38.531) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(0.114) |
0.114 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(87.852) |
(196.388) |
(38.645) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.62) |
(7.95) |
(1.57) |
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 |
(132.252) |
(129.715) |
(60.163) |
|
Net cash flow from operating activity |
(132.252) |
(129.715) |
(60.163) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
77.21 |
54.41 |
50.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(1.99) |
(3.39) |
(0.81) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(8.54) |
(18.61) |
(10.68) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.70 |
0.36 |
0.12 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.32 |
0.56 |
0.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.36 |
0.05 |
0.03 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
(50.16) |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
(21.39) |
(51.55) |
(55.74) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(98.38) |
(56.23) |
(24.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(327.92) |
(87.72) |
(28.17) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.12 |
2.68 |
8.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.45 |
2.23 |
5.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.64 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.12 |
2.68 |
8.06 |
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 |
139.957 |
246.913 |
313.761 |
|
Reserves & Surplus |
(2.783) |
(206.128) |
(286.970) |
|
Share Application money pending allotment |
0.000 |
183.087 |
0.000 |
|
Net
worth |
137.174 |
223.872 |
26.791 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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
|
69.325 |
380.993 |
410.672 |
|
|
0.000 |
449.575 |
7.790 |
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
|
69.325 |
380.993 |
410.672 |
|
Profit/(Loss) |
(38.645) |
(196.388) |
(87.852) |
|
|
(55.74
%) |
(51.55
%) |
(21.39
%) |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
The Company is a private company domiciled in India and incorporated under the provisions of the erstwhile Companies Act 1956. The Company is engaged in the business of trading online in mobile and computer accessories and other electronic products.
REVIEW OF OPERATIONS AND
STATE OF AFFAIRS:
Subject owns and operates e-commerce portal, Latestone.com, India’s only e-trailer specialized in tech and mobile accessories such as Bluetooth devices, mobile covers, tablet accessories, cables, power banks, Android TVs, headsets, smart watches or CCTV’s, it stocks over 10,000 different products in its inventory and operates through its own Fulfillment centers in Delhi and Mumbai.
During the year the company has continued its growth and has declared growth of 8% in Net Revenue on a year on year basis. While showing the growth the Company has significantly reduced its losses by 60%. In a very short span of time, LatestOne.com has reached a milestone by achieving an average of 4000 orders per day, from an average of 100 orders per day in the beginning. The website receives over 3.5 Million visitors in a month and till date has successfully shipped / delivered more than 2.5 million orders since the commencement of its operations.
The market size of Tech & Mobile accessories market in India is estimated at INR 20.000 Million by Value, It is the fastest growing product range in the online category and the Market is expected to grow 20-25% year-on-year for the next 3 years.
The Company also plans to increase revenue by expanding product categories, selling quality products and creating long term goodwill, and set up fulfilment centers, to provide quicker delivery of products sourced locally.
The Company is also planning to launch its ecommerce portal in International Markets.
INDEX OF CHARGES: NO CHARGES EXIST FOR THE
COMPANY
FIXED ASSETS
- Furniture and fixtures
- Office equipment
- Computer equipment’s
- Leasehold improvements
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 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 67.11 |
|
|
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
PVG |
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 |
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.