MIRA
INFORM REPORT
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Report Date : |
01.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SPARK TECHNOLOGIES
PRIVATE LIMITED |
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Registered Office : |
308,
Eros Apartment, 56, Nehru Place, New Delhi-110019, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
08.09.1994 |
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Com. Reg. No.: |
55-61366 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PLC061366 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS21290D |
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PAN No.: [Permanent
Account No.] |
AAACS4609L |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Deal In Computer
Components and Carry out Repair and Maintenance of IT Products |
RATING & COMMENTS
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MIRA’s 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
52500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. 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,
Eros Apartment, 56, Nehru Place, New Delhi-110019, Delhi, India |
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Tel. No.: |
91-11-26210024 |
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E-Mail : |
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Head Office : |
Spark Technologies Limited Phone: 011-41606560 (8 Lines),
011-26210024 Fax: 011-26282849 Contact Person: Surinder Pal Singh Palia Mobile: 9810069708 SALES: sales@sparkindia.com SERVICE: service@sparkindia.com |
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Branches : |
J&K Branch
Office: Contact Person: Amit Padha
Uttar Pradesh
(Noida) Branch Office:
Haryana (Gurgaon)
Branch Office: Contact Person: S. Nautiyal
Rajasthan
(Jaipur) Branch Office: Contact Person: Uttam Kumar
Uttranchal
(Dehradun) Branch Office: Contact Person: Sunny Dhiman
Himachal Pradesh
Branch Office: Contact Person: Anurag Niranjan |
DIRECTORS
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Name : |
Mr.
Surinder Pal Singh |
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Designation : |
Director |
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Address : |
247,
Ankur Apartment, I.I.P. Extension, Delhi-110092 |
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Date of Birth/Age : |
24.10.1968 |
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Date of Appointment : |
18.01.1999 |
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Name : |
Mr. Sewak
Ram Navtiyalran |
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Designation : |
Director |
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Address : |
120,
South Park Apartment, Kalkaji, New Delhi-110019 |
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Date of Birth/Age : |
04.03.1967 |
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Date of Appointment : |
08.09.1994 |
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Name : |
Mr.
Rajesh Budhwar |
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Designation : |
Director |
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Address : |
209/111,
Kirti Apartment, Mayur Vihar, Delhi-110092 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr.
Surinder Pal Singh |
124933 |
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Mr.
Sewak Ram Nautiyal |
132333 |
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Mr.
Rajesh Budhwar |
96000 |
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Mr.
Raminderjit |
45283 |
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Mr.
Banarsi Das Budhwar |
33783 |
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Mrs.
Preeti Nautiyal |
68166 |
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Mr.
Inderjit Singh |
12800 |
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Mr.
Silmar Kaur |
14000 |
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Mr.
Vimal Prasad Nautiyal |
15000 |
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Mr.
Gurvinder Singh |
52500 |
BUSINESS DETAILS
|
Line of Business : |
Deal In Computer
Components and Carry out Repair and Maintenance of IT Products |
GENERAL
INFORMATION
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Auditors : |
Singhalmatta
& Company Chartered
Accountants B-21,
Lajpat Nagar-I, New Delhi-110024, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
848800 |
Equity
Shares |
Rs.10/- each |
Rs.8.489 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
848800 |
Equity
Shares |
Rs.10/- each |
Rs.8.489 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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8.488 |
7.226 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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4.777 |
3.137 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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13.265 |
10.363 |
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LOAN FUNDS |
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1] Secured Loans |
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14.195 |
12.509 |
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2] Unsecured Loans |
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0.952 |
0.757 |
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TOTAL BORROWING |
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15.147 |
13.266 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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28.412 |
23.629 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.099 |
2.557 |
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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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29.440 |
11.555 |
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Sundry Debtors |
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51.112 |
31.733 |
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Cash & Bank Balances |
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0.459 |
0.271 |
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Other Current Assets |
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1.415 |
1.063 |
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Loans & Advances |
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3.476 |
2.385 |
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Total Current Assets |
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85.902 |
47.007 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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58.429 |
25.329 |
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Provisions |
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1.160 |
0.606 |
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Total Current Liabilities |
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59.589 |
25.935 |
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Net Current Assets |
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26.313 |
21.072 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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28.412 |
23.629 |
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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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NA |
NA |
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Net
Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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NA |
NA |
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Return
on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt
Equity Ratio (Total
Liability/Networth) |
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5.63 |
3.78 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.44 |
1.81 |
LOCAL AGENCY FURTHER
INFORMATION
Background
Three friends freshly
graduated in Engineering, joined hands to start up their own business –
promising themselves a future in Information Technology.
Subject was incorporated
with an objective to deal in Computer Components and carry out Repair &
Maintenance of IT products, with a clear objective of providing simplified
infrastructure solutions.
Over the years subject
has been addressing the growing demand for the cost-effective technology
infrastructure solutions across geographically dispersed locations. Today, the
company has leveraged its technology partnerships on a global scale to deliver
cost-effective solutions for the emerging network centric world.
With the basic
objective of becoming leading converged business solution provider for
enterprises the company has invested in highly efficient and certified
taskforce, attaining the maturity in the execution of projects in the committed
time frame and with 100% customer satisfaction.
In order to keep
abreast with latest happenings in technologies, a regular training is imparted
to in-house work force. Keeping this in mind, to strive ahead on the forefront
of technology, by regularly updating knowledge.
The philosophy of the
continuous technology upgrades has paved their way through various milestones
year after year. Therefore, the company name has been re-christened to Spark
Technologies Private Limited.
Initially dealing in
products like PCs, Networking, office automation like computer, printers,
LAN/WAN, Today, subject offers cost effective infrastructure solutions for
networks dispersed geographically, cabling/wireless solutions. Providing
consultancy, monitoring, optimizing and managing IT infrastructure across the
country. As well as providing assessment & solutions for Security,
Convergence of Data and Voice and Quality of Service, Server & Storage
through our branches located at Gurgaon, Noida, Jammu, Dehradun, Shimla and
Jaipur.
Solutions
Enterprise IT Solutions
IT has
become a high - priority issue today as the health and viability of most
businesses is heavily dependent on
Infrastructure
Solutions
To offer
best and latest technology solutions to its customers with efficient technologically
reliable computing devices.
Network
Security
Securing
the networks from security risks for customer is their priority as well as
concern.
IT
Products Distribution
They
insist on high product quality and thus partner with the World leaders in the
industry.
Products
Spark offers one shop solution for all IT related products:
Computers
Desktop PCs
Notebooks
Servers
Networking Products
Routers
Switches
Firewall
Intrusion Detection System
Wireless
Long Reach Ethernet
Leased Line Modems
Interface Converters
Multiplexers
ISDN Products
DSL Products
Fiber Optics
Cat5/Cat6 Copper Cables
Components for Structure Cabling Solutions
Storage Products
Hard Drives
Optical Drives
DVD Writers
Power Conditioning Products
Off-Line
On-Line UPS
Peripheral Products
TFT Panels
Plasma Screens
Multi-Function Printers
DVD writers
Colour Laser Printers
Laser Printers
Multifunction Printers
Dot matrix Printers
Their Alliances
Offer the best technology for - data, voice & video.
Ø
Cisco Systems
Ø
Tyco Electronics
Ø
Linksys Inc.
Ø
RAD Data Communications
Ø
MRO-TEK
Ø
Samsung Electronics
Ø
HCL Infosystems Limited
Clients
Ø
They have provided IT solutions to the following
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Government & Public Sector
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Corporate Armed Forces
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Educational Institutions
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Multinational Corporate
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Telecom Sector
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.17 |
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UK
Pound |
1 |
Rs.86.66 |
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Euro |
1 |
Rs.57.25 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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<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 |
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