MIRA
INFORM REPORT
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Report Date : |
07.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
NEOTERIC
INFOMATIQUE PRIVATE LIMITED |
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Registered Office : |
225,
Chintamani Plaza, 2nd Floor, Andheri Kurla Road, Chakala, Andheri
[East], Mumbai 400099, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.03.1997 |
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Com. Reg. No.: |
11-106787 |
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CIN No.: [Company
Identification No.] |
U30007MH1997PTC106787 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN05580B |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importers and Distributors of Computer
Hardware and Peripherals. |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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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
450000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
The company undertakes imports and trading of computer peripherals, scanners, casting, monitors, etc. Directors are reported as experienced, respectable and having satisfactory means of their own. General financial position is satisfactory. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered/ Head / Corporate Office : |
225,
Chintamani Plaza, 2nd Floor, Andheri Kurla Road, Chakala, Andheri
[East], Mumbai 400099, Maharashtra, India |
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Tel. No.: |
91-22-39828600 |
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Fax No.: |
91-22-39828694 |
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E-Mail : |
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Website : |
http://www.neoteric-info.com |
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Branches
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Located
at : Ahmedabad,
Bangalore, Bhubaneswar, Chandigarh, Chennai, Cochin, Coimbatore, Dehradun,
Delhi, Gaziabad, Goa, Guwhati, Hyderabad, Indore, Jaipur, Jammu, Kolkata,
Kanpur, Lucknow, Ludhiana, Mumbai, Madurai, Nagpur, Patna, Pune, Raipur,
Ranchi, Surat, Trivendrum and Vizag |
DIRECTORS
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Name : |
Mr.
Harshad Shah |
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Designation : |
Chairman
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Name : |
Mr.
Paras Shah |
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Designation : |
Managing
Director |
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Name : |
Mr. S.
P. Rajgugu |
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Designation : |
Executive
Director |
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Name : |
Mr. R.
Srinivasan |
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Designation : |
Director
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BUSINESS DETAILS
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Line of Business : |
Importers and Distributors of Computer
Hardware and Peripherals. |
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Products : |
Desktop - Apple Storage Group (Drives and Media) - Iomega, Yamaha and Kodak Digital Cameras - Kodak, Umax and Mercury Input Devices Group - Mercury, Acer, Asus, Matrox, Adaptec, Samsung and Yamaha PC Components - Compex and Mercury Networking Printers Samsung Keyboard Logitech and Mercury Mice Logitech and Mercury Scanners Umax Digital Cameras Kodak, Logitech, Mercury and Umax Removable Storage Asus, Iomega and Samsung HDD Iomega (Portable) and Samsung NAS Iomega Mass Storage Controller Adaptec Laser Printer Samsung and Xante Multi Function Devices Samsung Networking Products Compex and Mercury Graphic Cards Matrox and Mercury Speakers Labtec and Mercury MP3/VCD Players - Mercury |
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Agencies Held : |
Apple Computer SA Pte Limited Adaptec Mercury Sony Umax Philips Iomesa Kobian Matrox Yamaha Linkworld Kodak Compex |
GENERAL
INFORMATION
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Suppliers : |
Apple Computer South Asia Pte Limited No. 7 Ang Mo Kio Street 64, Singapore 569086 Tel. No. 0065 4815511, 0065 4807523 Fax No. 0065 4840742, 0065 4815636 E-Mail ong.ca@asia.apple.com Contact Ms. Veronica Teo Kah / Kenny Ong Iomega Pacific Pte Limited / Iomega International SA 47 Scotts Road, # 10-01 Goldbell Towers, Singapore 228233 Tel. No. 0065 3796000, 0065 3796107 Fax No. 0065 7321155, 0065 3796317 E-Mail lim@iomega.com Contact Ms. Michelle Lim Philips India Limited Band Box House, 254-D, Dr. Annie Besant Road, Worli, Mumbai 400 025, India Tel. No. 91-22-24930311, 24930590 Fax No. 91-22-24915375 E-Mail c.d.khatu@philips.com Contact C. D. Khatu Kobian Singapore Pte Limited 9 Temasek Boulevard, #04-02 Suntec Tower 2, Singapore 038985 Tel. No. 0065 3383368, 0065 8466320-84 Fax No. 0065 3381588, 0065 3330238, 0065 7410040 E-Mail rajesh@kobian.com Contact Ms. Sushmita / Mr. Rajesh Bothra Kobian ECS India Private Limited Survey No. 333/5, Prithviraj Chauhan Marg, Village-Athal, Selvasa 396 235, Union Teritorry Tel. No. 91-260-2650300, 2650400 Fax No. 91-260-2650171 Contact Ms. Nirmala Saraf Lanbit India Private Limited Timm Arcade, CST 778/B, Makwana Road, Marol, Andheri (East), Mumbai 400 059, India Tel. No. 91-22-8515955 Fax No. 91-22-8518363 E-Mail lanbit.bom@sm1.sprintrpg.ems.vsnl.net.in Contact S. J. Shah Compex Systems Pte Ltd 135 Joo Seng Road, #08-01, PM Industrial Building, Singapore 368363 Tel. No. 0065 2862086 Fax No. 0065 2809947 Contact Mr. Sim Jek Hiong Umax Data Systems Inc 8F, 68, Sector 3, Nanking Road, Taipei, Taiwan, R.O.C. Tel. No. 886-2-25170055 Fax No. 886-2-25170062 Contact Mr. Bennett Wu Matrox Eurepoe Ltd C/o. MSAS Distribution Centre, Kwai Chung, Hong Kong Tel. No. 353-21-325600 Fax No. 353-21-325601 Contact Christina Wong BenQ India Private Limited 302, Omega Main Street, Hiranandani Gardens, Powai, Mumbai 400 076 Tel. No. 91-22-25705230-32 Fax No. 91-22-25705235 Contact Mr. Rajes Iyer Yamaha Electronics Asia Pte Ltd 138, Cecil Street, #05-02/03, Cecil Court, Singapore 069538 Tel. No. 0065 2233992 Fax No. 0065 2239810 Adaptec Manufacturing (Singapore) Pte Ltd No. 2, Chai Chee Drive, Singapore 469044 Tel. No. 0065 2457300 Fax No. 0065 2457604 Contact Ms. Janet Bong Kodak India Limited 2nd Floor, 159/A, Vinay Bhavya Complex, CST Road, Kalina, Mumbai 400 098 Tel. No. 91-22-26528821, 26528331 Fax No. 91-22-26526301 Contact Ms. Manisha Sood Samsung Electronics India Information & Telecommunication Limited 47, Ring Road, Lajpat Nagar III, New Delhi 110 024 Tel. No. 91-11-26322517 Fax No. 91-11-28312935 Contact Mr. R. S. Sahu |
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Customers : |
PCS Industries Limited, Mumbai Rolta India Limited, Mumbai CMS Computers Limited, Mumbai Zenith Computers Limited, Mumbai |
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No. of Employees : |
100 |
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Bankers : |
Union
Bank of India 412, Dr. Dadasaheb Bhadkamkar Marg, Opera House Branch, YMCA Building, Opera House, Mumbai 400 004, Maharashtra Citi
Bank N. A., Mumbai, Maharashtra, India HDFC
Bank Limited, Mumbai, Maharashtra, India |
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Banking Relations : |
Satisfactory
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Auditors : |
Chaturvedi
Sohan & Company Chartered
Accountants, 320,
Tulsiani Chambers, 212, Nariman Point, Mumbai 400021, Maharashtra, India |
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Associates : |
Neoteric
Pte. Limited, Singapore |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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6000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 60.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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3000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 30.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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30.000 |
30.000 |
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2] Share Application Money |
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20.000 |
0.000 |
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3] Reserves & Surplus |
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68.114 |
53.112 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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118.114 |
83.112 |
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LOAN FUNDS |
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1] Secured Loans |
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184.350 |
186.608 |
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2] Unsecured Loans |
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60.653 |
61.126 |
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TOTAL BORROWING |
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245.003 |
247.734 |
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DEFERRED TAX LIABILITIES |
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7.421 |
0.000 |
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TOTAL |
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370.538 |
330.846 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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35.180 |
19.853 |
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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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3.998 |
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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392.082 |
381.870 |
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Sundry Debtors |
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397.351 |
203.931 |
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Cash & Bank Balances |
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45.200 |
32.956 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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35.034 |
23.112 |
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Total Current Assets |
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869.667 |
641.869 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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531.660 |
330.876 |
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Provisions |
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6.647 |
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Total Current Liabilities |
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538.307 |
330.876 |
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Net Current Assets |
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331.360 |
310.993 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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370.538 |
330.846 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
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2501.161 |
3637.083 |
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Profit/(Loss)
Before Tax |
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25.877 |
46.230 |
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Provision
for Taxation |
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8.530 |
10.726 |
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Profit/(Loss)
After Tax |
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17.347 |
35.504 |
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Total
Expenditure |
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2475.284 |
3590.853 |
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.69 |
0.97 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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1.03 |
1.27 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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2.85 |
6.98 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.21 |
0.55 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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6.63 |
6.96 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.61 |
1.93 |
LOCAL AGENCY
FURTHER INFORMATION
The
Registered office of the company was shifted from B 20, Shriram Industrial
Estate, 13, G. D. Ambekar Road, Wadala, Mumbai 400031 to the present address.
WEBSITE
DETAILS
Neoteric Infomatique Private Limited is a computer hardware
& peripheral distribution company headquartered in Mumbai (India) with 32 branch offices. It caters to the
requirements of more than six thousand resellers with a high penetration all
over. Neoteric was founded in
1991, originally started as a trading organization and moved on to becoming a
national distributor which has been the focus area since 1997. The founders are
a team of young, dynamic professionals with extensive marketing, sales and
technical expertise in the Indian IT industry.
Today, Neoteric
is a proven, future bound, well-structured distribution house with the
infrastructure to co-ordinate all business efforts. Neoteric understands what customer needs are, it constantly
updates customers and helps to make gainful decisions either for resellers or
OEM's. Special emphasis is given to resellers and OEM's post-sales service
& support functions.
Vision
Neoteric wants to be the first choice as a distribution partner for both
vendors and resellers by adding value to the supply chain through efficient
logistics and a high level of product knowledge, value added marketing and
demand creation activities.
Strengths
Developing loyal resellers
32 branches reaching 250 cities all over India
Value Added Distribution
Based in the commercial capital of India with de-centralized sales
operations
Finance
Logistics
Marketing
Product Management
HR
Tech Support
The local functions in each branch are:
Sales
Technical support
Pre & post sales service support
Logistics management
This structure is advantageous to their vendors, since they only have
one point of contact for the entire market. The local functions in each state
are sales and technical support.
The sales teams are well trained on product knowledge. Regular technical
& business up gradation to the team flows down to the channel partners
making them empowered to have an edge above the rest with their customers.
Neoteric offers IT
resellers a unique bundle of services that maximizes the profit of their
businesses:
Broad range of products
With the broad range of products available from neoteric, resellers can
cut down on their procurement costs as they need fewer suppliers and thus save
money on maintenance of price lists in various formats etc. Instead of spending
time searching among several suppliers for a product, resellers can concentrate
on their customers' needs.
They are currently partnered with:
Adobe
Apple
Asus
AMD
BenQ
Epson
Hitachi
Iomega
Kodak
LaCie
Lexar
Logitech
Matrox
Philips
Samsung
Umax
Wacom
Pre/Post sales support
The neoteric account
managers are happy to assist resellers with customer meetings, seminars or
other sales activities the reseller may wish to do. By using the neoteric
account managers, resellers get extra sales resources.
Value added distribution
Their vendors understand their VAD concept and feel the need to introduce their
products to the market through a structured and efficient approach. When
introducing new technology to the market, the efficiency in terms of timing and
cost is vital. Their vendors know that neoteric can bring their products to the
market faster and cheaper than they themselves can. Neoteric is known for
making products reach those segments which others can only think of.
VAD has two dimensions:
Broad line
Focused verticals
Corporate
Corporate Gifting
Retail
Gaming
Telecom
Consumables
Enterprise
Resellers
Internal Storage
External Storage
Digital Imaging
Digital Video
Digital Pre-Press
Photo Retail
Neoteric has business groups to focus on specific
verticals addressing similar channels - PC Components business group, PC
Peripherals business group & Creative business group ensuring goals on
defined verticals are achieved.
Neoteric sells exclusively
through resellers only. They never make any exceptions to this rule. An
important part of the VAD concept in the focus area dimension is bringing
knowledge about new technologies to the market. Product availability and price
competitiveness are not the only factors that determine purchase behavior. For
the customers to benefit from their investments, choosing the right solution is
essential. Cost of ownership is not just a matter of getting the products to
function properly but also about choosing and implementing the right solutions.
By working very closely with their vendors and resellers we bring knowledge
about new technologies to the market because we know that only the right
knowledge will sell the products we carry.
Advantage neoteric
Proven credentials with leading customer & vendor relationships.
Extensive market experience, averaging 10+ years per person.
Excellent industry/channel reputation and market credibility.
Management skills with proven systems, controls & processes.
Single window for their principals & customers to transact business.
6000 channel
partners, 250 cities, 110 sales people, focused verticals & structured
approach.
Marketing
They have found that the most effective way to bring products to the
marketplace is to create a push/pull effect. They develop the channel through
marketing, seminars, pre-sales, pilot-installations and sales visits in order
to create awareness and interest for the products. This channel development
process is carried out in close co-ordination with end-user marketing activities.
The co-ordination between the markets push/pull enforces the market adoption
and reseller willingness to invest in knowledge about the products.
Neoteric has a rich experience in IT product marketing
and all this is available to their partners. They will design and implement
marketing campaigns together with their partners from ideas to funding.
Every day neoteric
generates sales leads. These leads come from their online advertising, as
responses from mailings, from their vendors and many other sources. They share
these leads with their resellers and keep track of their status.
Typical activities include
Advertising
Road shows
Brochures
Press Releases
Reseller Mailings
Telemarketing
Neo news happenings @neoteric
Exhibitions and trade shows
Seminars and road shows
Web advertising
E-mail newsletters
Technical Support / Training
A part of the VAD concept is providing technical support. Neoteric provides
technical support to resellers, training and education. Neoteric offers
technical training for systems people and sales training for sales people. The
sales training takes sales people through a learning experience that is
tailored specifically for the sale of products.
Human Resource Department
The HR Department offers a wealth of experience in all facets of human resource
programs, policy development, and practice. The HR Department's experienced
human resources professionals provide comprehensive, timely, cost-effective
solutions. They provide an integrated series of topnotch human resource
solutions that are customized to the needs and stages of development
facilitating the organization to move towards the goal.
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 Intl 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
companys 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.44.83 |
|
UK
Pound |
1 |
Rs.85.36 |
|
Euro |
1 |
Rs.57.21 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|