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|
MIRA INFORM REPORT
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Report No. : |
508905 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MITHI SOFTWARE TECHNOLOGIES PRIVATE LIIMITED |
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|
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Registered
Office : |
268/14, Mira Society, Shankershet Road, Pune – 411037,
Maharashtra |
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Mobile No.: |
91-9822053099 (Mr. Ashok Vijaynath Malaviya) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
14.05.1993 |
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Com. Reg. No.: |
11-072002 |
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Capital
Investment / Paid-up Capital : |
INR 15.249 Million |
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CIN No.: [Company Identification
No.] |
U72300PN1993PTC072002 |
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IEC No.: [Import-Export
Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCM9352P1ZT |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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TIN No.: |
27350026091 |
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PAN No.: [Permanent Account No.] |
AABCM9352P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of information technology and
computing including developing, programming and servicing of software, data processing
system in the field of emailing and networking. [Registered Activity] |
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|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1993.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 15.05.2018
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 DENIED BY
|
Name : |
Mr. Ashok Vijaynath Malaviya |
|
Designation : |
Director |
|
Contact No.: |
91-9822053099 |
|
Date : |
13.05.2018 |
MANAGEMENT NON-COOPERATIVE (91-20-27293258)
LOCATIONS
|
Registered Office : |
268/14, Mira Society, Shankershet Road, Pune – 411037,
Maharashtra, India |
|
Tel. No.: |
91-20-27293258 |
|
Mobile No.: |
91-9822053099 (Mr. Ashok Vijaynath Malaviya) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
|
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Corporate Office: |
103, MayFair Court, Nachiket Park, Dr. Pai Marg, Baner Road, Pune-
411045, Maharashtra,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Tarun Vijaynath Malaviya |
|
Designation : |
Managing Director |
|
Address : |
Meera Housing Society, 268/14 , Shankar
Sheth Road, Pune -411037, Maharashtra, India |
|
Date of Appointment : |
14.05.1993 |
|
DIN No.: |
00445429 |
|
|
|
|
Name : |
Mr. Aditi Tarun Malaviya |
|
Designation : |
Director |
|
Address : |
Block No.G-1, Kirloskar Residency, ITI
Road, Aundh Pune - 411007, Maharashtra, India |
|
Date of Appointment : |
25.09.2015 |
|
DIN No.: |
00185499 |
|
|
|
|
Name : |
Mr. Arun Sunder Jethmalani |
|
Designation : |
Director |
|
Address : |
43, Buena Monte, NCL Co-Operative Hosuing
Society, Panchavati, Pashan Pune- 411008, Maharashtra, India |
|
Date of Appointment : |
25.09.2015 |
|
DIN No.: |
00375023 |
|
|
|
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Name : |
Mr. Koushik Sekhar |
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Designation : |
Director |
|
Address : |
8 Panch Sheel Park, Baner-Aundh, Near HP
Petrol Bunk, Pune- 411007, Maharashtra, India |
|
Date of Birth/Age : |
20.02.1972 |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
00410700 |
|
|
|
|
Name : |
Mr. Ashok Vijaynath Malaviya |
|
Designation : |
Director |
|
Address : |
Meera Housing Society, 268/14 , Shankar
Sheth Road, Pune -411037, Maharashtra, India |
|
Date of Appointment : |
14.05.1993 |
|
DIN No.: |
00445253 |
|
|
|
|
Name : |
Mr. Sunil Vasudev Uttamchandani |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Block No. B, Carlise Court,
Clover Village, Wanowarie, Pune - 411040, Maharashtra, India |
|
Date of Appointment : |
14.05.1993 |
|
DIN No.: |
00583873 |
|
|
|
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Name : |
Mr. Shrikant Jayawant Patil |
|
Designation : |
Director |
|
Address : |
No 6 Pallavi Housing Society Senapati Bapat
Road, Pune -411016, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1967 |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
01501715 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Equity Shareholders |
No. of Shares |
|
|
Ashok Vijaynath Malaviya |
|
147371 |
|
Tarun Vijaynath Malaviya |
|
237356 |
|
Sunil Vasudev Uttamchandani |
|
137074 |
|
Vijaynath Kendarnath Malaviya |
|
117733 |
|
Kusum Vijaynath Malaviya |
|
34258 |
|
Rashmi Sunil Uttamchandani |
|
17066 |
|
Ramrekha Dubey |
|
2394 |
|
Indumati Ramrekha Dubey |
|
2394 |
|
Kanti Devi Kamalnarayan Malaviya |
|
3766 |
|
Manju Shyam Malaviya |
|
2688 |
|
Medici Holdings Limited, Mauritius |
|
112098 |
|
Arun Sunder Jethmalani |
|
1757 |
|
Anand Ramchandra Khandekar |
|
2814 |
|
Rahul Chandrasingh Mehta |
|
6102 |
|
Vikrant Bhalerao |
|
49 |
|
Shrikant Jayawant |
|
176775 |
|
Koushik Subrahamaniam Sekhar |
|
176775 |
|
Total |
|
1178470 |
|
Names of Preference Shareholders |
No. of Shares |
|
|
Shrikant Jayawant Patil |
|
17323 |
|
Koushik Subrahamaniam Sekhar |
|
17322 |
|
Total |
|
34645 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
54.27 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
36.22 |
|
Public/Other than promoters - Body corporate |
9.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of information technology and computing
including developing, programming and servicing of software, data processing
system in the field of emailing and networking. [Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
NOTE: LONG TERM
BORROWING Vehicle loans for Honda Jazz, Amount outstanding INR NIL (Previous
year INR 0.053 Million) is secured against the vehicle and personal guarantee
from directors, is repayable in 60 equal monthly installments of INR 0.011
Million (Including interest) carrying interest @ 13% pa (Previous year 13%
p.a) Principal amount to be re-paid in FY 2017-18 INR NIL (Previous years INR
0.053 Million). Vehicle loan for Hyundai I20: Amount outstanding INR 0.372 Million
(Previous year INR 0.516 Million) is secured against the vehicle and personal
guarantee from directors is repayable in 60 equal monthly installments of INR
0.012 million (plus interest) carrying interest @ 11.50% p.a principal amount
of be repaid in FY 2017 -18 INR 0.144 Million (Previous year INR 0.144
million) SHORT TERM
BORROWING Cash credit facility is secured against book debt, directors insurance policy and extension charges on residence of Mr. Tarun Vijaynath Malaviy |
|
Auditors : |
|
|
Name : |
CNK and Associates LLP Chartered Accountants |
|
Address : |
501/502 Narain Chambers, M. G. Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India |
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Tel. No.: |
91-22-64577600 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFC8587E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company: |
CR Networks Technologies Private Limited [U72900PN2012PTC142379] |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
220000 |
Preference Shares |
INR 100/- each |
INR 22.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 37.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1178470 |
Equity Shares |
INR 10/- each |
INR 11.785 Million |
|
34645 |
Preference Shares |
INR 100/- each |
INR 3.464 Million |
|
|
|
|
|
|
|
Total |
|
INR 15.249
Million |
FINANCIAL DATA
[all figures are
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 |
15.249 |
15.249 |
15.249 |
|
(b) Reserves &
Surplus |
(27.200) |
(22.159) |
(21.630) |
|
(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) |
(11.951) |
(6.910) |
(6.381) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.228 |
0.373 |
0.568 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.086 |
0.032 |
0.201 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.314 |
0.405 |
0.769 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8.116 |
3.478 |
3.918 |
|
(b) Trade payables |
4.000 |
3.251 |
2.029 |
|
(c) Other current liabilities |
12.876 |
10.146 |
11.695 |
|
(d) Short-term provisions |
1.191 |
0.866 |
0.422 |
|
Total Current Liabilities
(4) |
26.183 |
17.741 |
18.064 |
|
|
|
|
|
|
TOTAL |
14.546 |
11.236 |
12.452 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.802 |
1.086 |
1.322 |
|
(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 |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.601 |
5.152 |
5.148 |
|
(e) Other Non-current
assets |
0.589 |
0.296 |
0.118 |
|
Total Non-Current Assets |
9.092 |
6.634 |
6.688 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
5.256 |
4.163 |
4.616 |
|
(d) Cash and cash
equivalents |
0.002 |
0.281 |
0.701 |
|
(e) Short-term loans and
advances |
0.114 |
0.113 |
0.387 |
|
(f) Other current assets |
0.082 |
0.045 |
0.060 |
|
Total Current Assets |
5.454 |
4.602 |
5.764 |
|
|
|
|
|
|
TOTAL |
14.546 |
11.236 |
12.452 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
36.650 |
35.141 |
34.204 |
|
|
Other Income |
0.077 |
0.196 |
0.388 |
|
|
TOTAL |
36.727 |
35.337 |
34.592 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
17.889 |
18.725 |
20.985 |
|
|
Other expenses |
22.360 |
15.947 |
12.019 |
|
|
TOTAL |
40.249 |
34.672 |
33.004 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(3.522) |
0.665 |
1.588 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.072 |
0.706 |
0.783 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(4.594) |
(0.041) |
0.805 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.446 |
0.489 |
0.565 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(5.040) |
(0.530) |
0.240 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(5.040) |
(0.530) |
0.240 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(4.28) |
(0.45) |
0.20 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.144 |
0.196 |
0.260 |
|
|
|
|
|
|
Cash generated from operations |
(1.498) |
1.422 |
(0.573) |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(3.928) |
1.332 |
(1.290) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
52.34 |
43.24 |
49.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.97 |
8.44 |
7.41 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(4.39) |
0.61 |
1.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.83 |
1.63 |
1.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(0.71) |
(0.59) |
(0.74) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(2.19) |
(2.57) |
(2.83) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.07) |
(0.16) |
(0.21) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(3.29) |
0.94 |
2.03 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(13.75) |
(1.51) |
0.70 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(34.65) |
(4.72) |
1.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
42.17 |
7.67 |
(3.76) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.21 |
0.26 |
0.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.21 |
0.26 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.82) |
(0.61) |
(0.51) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.56 |
0.27 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.21 |
0.26 |
0.32 |
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 |
15.249 |
15.249 |
15.249 |
|
Reserves & Surplus |
(21.630) |
(22.159) |
(27.200) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(6.381) |
(6.910) |
(11.951) |
|
|
|
|
|
|
Long Term borrowings |
0.568 |
0.373 |
0.228 |
|
Short Term borrowings |
3.918 |
3.478 |
8.116 |
|
Current Maturities of Long term debt |
0.260 |
0.196 |
0.144 |
|
Total
borrowings |
4.746 |
4.047 |
8.488 |
|
Debt/Equity
ratio |
(0.744) |
(0.586) |
(0.710) |
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
|
34.204 |
35.141 |
36.650 |
|
|
|
2.739 |
4.294 |
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
|
34.204 |
35.141 |
36.650 |
|
Profit |
0.240 |
(0.530) |
(5.040) |
|
|
0.70% |
(1.51%) |
(13.75%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
15.249 |
15.249 |
|
(b) Reserves &
Surplus |
|
(27.348) |
(22.045) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
(12.099) |
(6.796) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.228 |
0.373 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.086 |
0.032 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.314 |
0.405 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
8.116 |
3.478 |
|
(b) Trade payables |
|
3.901 |
3.152 |
|
(c) Other current
liabilities |
|
13.080 |
10.272 |
|
(d) Short-term provisions |
|
1.191 |
0.866 |
|
Total Current Liabilities
(4) |
|
26.288 |
17.768 |
|
|
|
|
|
|
TOTAL |
|
14.503 |
11.377 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.802 |
1.161 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.003 |
|
(d) Long-term Loan and Advances |
|
7.658 |
5.249 |
|
(e) Other Non-current
assets |
|
0.589 |
0.296 |
|
Total Non-Current Assets |
|
9.049 |
6.709 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
5.256 |
4.163 |
|
(d) Cash and cash
equivalents |
|
0.002 |
0.347 |
|
(e) Short-term loans and
advances |
|
0.114 |
0.113 |
|
(f) Other current assets |
|
0.082 |
0.045 |
|
Total Current Assets |
|
5.454 |
4.668 |
|
|
|
|
|
|
TOTAL |
|
14.503 |
11.377 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
36.650 |
35.145 |
|
|
Other Income |
|
0.077 |
0.199 |
|
|
TOTAL |
|
36.727 |
35.344 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
|
18.253 |
19.159 |
|
|
Other expenses |
|
22.241 |
15.448 |
|
|
TOTAL |
|
40.494 |
34.607 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
(3.767) |
0.737 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
1.073 |
0.706 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
(4.840) |
0.031 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.462 |
0.512 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(5.302) |
(0.481) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.016 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
(5.302) |
(0.497) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(4.50) |
(0.42) |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
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 |
OPERATIONAL REVIEW
Sharp increase in expenditure on account of continued investments made in
Automation. And Cloud Computing. But mostly due to Software Upgrades and New
Product Development Costs. Resulting in a loss of approximately 50 lacs,
despite some increase in revenue growth, drop in employees related expenses (as
a result of automation) and optimization of the Automation and Cloud Computing
costs.
The company expects to further optimise these costs with improvements in
system architecture and engineering, to reduces the unit cost per user. The new
platform with reduced levels of maintenance and service effort created the
space for the company to innovate and bring new products and offerings to the
market faster, further improving the business scalability.
The company is continuously working on improving and optimizing the new
system for better outcomes for our customers, scalability and better margins.
The company has also invested in and continues to invest in many
initiates for building speed, scale and quality in its sales and marketing
processes, while driving down the cost sales per customer.
BACKGROUND
Subject was incorporated on 14th may 1993. In Maharashtra. It
has registered office at pune. The company took over all the business
(including assets and liabilities) of a partnership firm “MEN AT WORK”. The
company is engaged in the business of information technology and computing
including developing, programming and servicing of software, data processing
system in the field of emailing and networking.
The Company’s accumulated losses are more than its Net Worth at the end
of the Company’s current liabilities exceeded its current assets as at the
balance sheet date. In spite of erosion of the entire net worth. The directors
are of the opinion that the company will be in a position to recover the losses
and continue its activities in future. Accordingly, the accounts are prepared
on historical cost basis and as a going concern.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loan from directors |
5.850 |
0.444 |
|
Total |
5.850 |
0.444 |
CONTINGENT
LIABILITIES
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
|
|
|
|
Contingent Liabilities |
6.709 |
9.607 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B25721952 |
10341179 |
BANK
OF BARODA |
01/08/2011 |
- |
- |
490000.0 |
ADAMS
COURT OPP. MAHABALESWAR HOTELBANER ROAD AUNDHPUNEMH411045IN |
|
2 |
G47019971 |
90086078 |
BANK
OF BARODA |
05/04/2002 |
16/03/2012 |
29/05/2017 |
2500000.0 |
ADAMS
COURTOPP. MAHABALESWAR HOTEL, BANER ROADPUNEMH411045IN |
FIXED ASSETS:
Tangible Assets
- Office Equipments
- Computers
- Furniture and Fixtures
- Vehicles
Intangible Assets
- Software
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 67.32 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.