MIRA
INFORM REPORT
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Report Date : |
25th
May, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
OFFICEDGE
INDIA PRIVATE LIMITED |
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Formerly Known As : |
INTELLIVEST
INVESTMENTS INDIA PRIVATE LIMITED |
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Registered Office : |
308
Regent Chambers, 208, Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
16th
May, 2000 |
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Com. Reg. No.: |
11-126561 |
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CIN No.: [Company
Identification No.] |
U67120MH2000PTC126561 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMO03386F |
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PAN No.: [Permanent
Account No.] |
AAACO6577D |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Dealer,
Distributor, Exporter and Importer of Office Automation-Fellowes, Martin Yale
Xerox, HP etc.., Chemicals+Specialities-Lcy, Shell, Dow, Lyoodell, CP Kelco,
Ciba, Cloriant, etc.. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
4000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an active company in trading of office equipments. Trade relations are
fair. Payments are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
308 Regent Chambers, 208, Nariman Point,
Mumbai – 400021, Maharashtra |
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Tel. No.: |
91-22-30407777/56661000 |
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Fax No.: |
91-22-56669870 |
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E-Mail : |
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Website : |
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Corporate
Office : |
509
Shah & Nahar, Worli, Mumbai – 400018, Maharashtra |
DIRECTORS
|
Name : |
Mr.
Shailesh Karwa |
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Designation : |
Director |
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Date of Birth/Age : |
29
years |
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Qualification : |
MBA |
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Experience : |
8
years |
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Name : |
Mr.
Sharad Dalmia |
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Designation : |
Director |
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Date of Birth/Age : |
29
years |
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Qualification : |
MBA |
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Experience : |
8
years |
BUSINESS DETAILS
|
Line of Business : |
Dealer,
Distributor, Exporter and Importer of Office Automation-Fellowes, Martin Yale
Xerox, HP etc.., Chemicals+Specialities-Lcy, Shell, Dow, Lyoodell, CP Kelco,
Ciba, Cloriant, etc.. |
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Terms : |
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Selling : |
L/C,
Cash or Credit |
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Purchasing : |
L/C,
Cash or Credit |
GENERAL
INFORMATION
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No. of Employees : |
45 |
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Bankers : |
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Banking Relations : |
-- |
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Auditors : |
Sandeep
Kabra & Associates Chartered Accountants |
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Address : |
22,
Manav Mandir, 17th Road, Siddharth Nagar, Goregaon (W), Mumbai –
400062, Maharashtra |
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Associates/Subsidiaries : |
Company Reg. No.: 154635 Company Reg. Date: 08.07.2005 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5,000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.500 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5,000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.553 |
(0.004) |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
1.053 |
0.096 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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4.514 |
0.017 |
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TOTAL BORROWING |
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4.514 |
0.017 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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5.567 |
0.113 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.034 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.493 |
0.008 |
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Sundry Debtors |
|
5.722 |
0.056 |
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Cash & Bank Balances |
|
0.177 |
0.066 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.662 |
0.000 |
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Total Current Assets |
|
7.054 |
0.130 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
|
2.533 |
0.031 |
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Total Current Liabilities |
|
2.533 |
0.031 |
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Net Current Assets |
|
4.521 |
0.099 |
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MISCELLANEOUS EXPENSES |
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0.012 |
0.014 |
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TOTAL |
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5.567 |
0.113 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
30.115 |
0.063 |
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Profit/(Loss)
Before Tax |
|
0.707 |
* |
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Provision
for Taxation |
|
0.150 |
-- |
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Profit/(Loss)
After Tax |
|
0.557 |
* |
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Total
Expenditure |
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29.408 |
0.063 |
* Amount
less than Rs. 500/-
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
1.85 |
-- |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
2.34 |
-- |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
8.74 |
-- |
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Return
on Investment (ROI) (PBT/Networth) |
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|
0.67 |
-- |
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Debt
Equity Ratio (Total
Liability/Networth) |
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6.69 |
0.50 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
2.78 |
4.19 |
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
& MAIN OBJECTS OF THE COMPANY:
To carry
on the business as an investment company and to buy, underwrite, invest in, and
acquire and hold shares, stocks, debentures-stock, bonds, obligations, and
securities, issued or guaranteed by any company constituted or carrying on
business in India and/or out of India and debentures, debenture-stocks, and
obligations and securities, issued or guaranteed buy any Government, State,
Sovereign, Ruler, Commissioner, public body or authority, supreme, municipal,
local or otherwise, trust, firms or person and to deal with and turn to account the same provided always that no
investment imposing unlimited liability on the Company shall be made. To invest
money at interest on the security of land of any tenure, buildings, forming
stock, stocks, shares, securities, merchandise and any other property and
business of financing by way of advance, deposit or lend money, on securities
and properties to or with any company, body corporate, firm, person or
association whether falling under the same management or not, with or without
security and on such terms as may be determined from time to time.
To
manage the funds of the investors by investment in various avenues like Growth
Fund, Income Fund, Risk Fund, Tax Exempt Funds, Pension/Superannuation Fund and
to pass on the benefits of portfolio investments to the investors as dividends,
bonus, interest.
FINANCIAL
RESULTS:
The
working for the year resulted in a profit of Rs. 0.557 million after providing
Rs. 0.150 million for income tax provision, but the directors do not recommend
payment of any dividend on equity shares for the year.
FIXED
ASSETS:
The
company’s fixed assets of important value includes computers and vending
machine.
WEBSITE
DETAILS ATTACHED:
ABOUT
US:
Officedge would like to become a single
customer interface for the entire gamut of office products & services
through its offerings in Office Automation, Consumables, Furniture &
Services. Officedge aims to capture the entire tangible space of an office and
provide a unique value proposition of convenience, cost effectiveness and
customer service.
Overview
Officedge proposes to become your
organizations' 'One-Stop Shop' for all your office needs. From printer toners
to copier paper and paper shredders to electronic white boards, we provide
virtually everything, your office requires for running smoothly.
OfficedgeT provides a single vendor
solution across the Office supplies category through its dedicated sales,
service and distribution infrastructure backed by a professional team and a
robust technology platform
OfficedgeT with its procurement solution
offering provides significant benefits in this scenario. Some of the key advantages
are -
•
Pan-India delivery & national account management
• Best in
class products & services with competitive pricing
• Process
improvements through e-procurement initiatives
• Increased
control of ordering, product standardization & MIS reporting
•
Recommendations towards 'Savings Program'
Contact us, and we'll help you run your business better!
Vision
To be
the preferred service brand for office supplies offering contract delivery,
retail and online reach to urban India
Our Values
At
Officedge we are committed to acting with integrity in everything we do and
hold ourselves accountable for doing business honestly, ethically, and legally.
We believe doing business the "right" way is the right thing to do,
and it's good for our business.
We believe that our team members deserve a
work environment that is safe and challenging, where individuals are respected
and treated fairly and where diversity is embraced. We strive to work with
suppliers that share our vision and values, suppliers that can grow along with
us.
Our values are reflected in our single set
of guiding principles for all Officedge stakeholders!
Integrity
To earn
the confidence and trust of our customers, suppliers, employees and
stakeholders through our unflinching commitment for ethical business practices.
Innovation
To
promote a culture of creativity, wherein we question established business
practices to redefine the rules of the industry.
Focus on Customer
To
better on our customers' expectations by carefully listening to their needs and
passionately delivering on our promises
Accountability
To
ensure that we create extra-ordinary value for our shareholders and
stakeholders, through commitment, collaboration, teamwork and empowerment.
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 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 45.85 |
|
UK
Pound |
1 |
Rs. 85.82 |
|
Euro |
1 |
Rs. 58.62 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |