MIRA
INFORM REPORT
|
Report Date : |
1st
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
THE
BEST |
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Registered Office : |
87,
Mistry Industrial Estate, MIDC, Cross Road A, Andheri (East), Mumbai
– 400 093, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1985 |
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Legal Form : |
Sole
Preparatory Concern |
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Line of Business : |
Dealer
and Distributor for Computer Peripherals such as ACI, Acer, Ingram, LabBit,
Redington, SES, etc. The
concern handles monitors ODDs Modems, Multimedia Kits, PC Ca,era, UPS, Dat
Drives, Plotters, Zip Motherboards processors, HDSs, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Management
of the concern remained non-cooperative during the current investigation.
Hence, this report is based on indirect source of information. Subject is a
well established concern having satisfactory track. Trade relations are
favourable. Nothing adverse reported. The concern can be considered good for
normal business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
87,
Mistry Industrial Estate, MIDC, Cross Road A, Andheri (East), Mumbai
– 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-30815100/
28251820/ 28235360 |
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E-Mail : |
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Website : |
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Area : |
3000
sq. ft. |
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Location : |
Owned |
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Warehouse
: |
Located
at:
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Branches
: |
Located
at:
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SOLE PROPRIETOR
|
Name : |
Mr. Sandeep
Parasrampuria |
|
Designation : |
Sole
Proprietor |
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Date of Birth/Age : |
42
Years |
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Qualification : |
Chartered
Accountants |
|
Experience : |
15
Years |
BUSINESS DETAILS
|
Line of Business : |
Dealer
and Distributor for Computer Peripherals such as ACI, Acer, Ingram, LabBit,
Redington, SES, etc. The
concern handles monitors ODDs Modems, Multimedia Kits, PC Ca,era, UPS, Dat
Drives, Plotters, Zip Motherboards processors, HDSs, etc. |
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Products : |
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Agencies Held : |
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Imports from : |
China,
Hong Kong and Taiwan |
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Terms : |
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Selling : |
Cash
and Credit basis |
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Purchasing : |
Cash
and Credit basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around
200 |
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Bankers : |
Not
Available |
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Banking Relations : |
Unknown
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Auditors : |
Not
Available |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
10.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs.
10.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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2000.000 |
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Expected
Sales Turnover for Year March 2007: Rs. 3000.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Mumbai-based sub-distributor, The Best, has decided to focus on expansion, while consolidating its position in the market. The company's director Sandip Parasrampuria said the company would open 2-3 branches in the current fiscal. Presently, the sub-distributor has its branch office and service center only in Mumbai. "We will also open one service center in the current financial year," said a company source.
In FY2001, the company's revenue was pegged at Rs 93 crore, an increase of 72 percent from the previous year's Rs 54 crore. Next year (FY2002), the company intends to touch the Rs 125 crore mark.
Headquartered in Mumbai, the entire contribution to The Best's revenue comes from the western region. Established in 1996 with an initial investment of Rs 3,000, The Best employs above 100 people. The company sources its products from Acer, LanBit, ACI, Ingram, Redington, SES, and Tech Pacific.
Its 500-plus distribution basket includes a range of products including systems, components and peripherals from multiple vendors. Some of these products include systems, components, peripherals, software, networking products and new appliances like Digital cameras.
Presently a sub-distributor, The Best's strategy for the year 2001-02 will be to achieve a distributor status by tying up with as many vendors as is necessary for growth.
In FY2001, The Best tied up with Acer as its distributor for all Acer products including keyboards, mice, monitors, etc and in less than one year, was honored by the vendor with an ACE Value Partner. In the same year, the company was appointed as a distributor by LanBit for its range of products.
Meanwhile, last year, the company introduced its own brand of motherboards, iBrain, manufactured at its plant in Daman. The sub-distributor has also launched an information based B2B Website, www. thebestindia.com, which allows for online ordering.
Highlights:
- Launched its own PC brand, 'The Best'
- Appointed Acer's Ace Value Partner
- Appointed as a distributor by LanBit
Vendors:
- ACI
- Acer
- Ingram
- LanBit
- Redington
- SES
- Tech Pacific
Products:
- Monitors
- Peripherals
- ODDs
- Modems
- Input Devices
- Multimedia Kits
- PC Camera
- UPS
- Dat Drives
- Plotters
- Zip Drive
- Motherboards
- Processors
- HDDs
- Memory SCSI Cards
- Handhelds
- Office
- Windows
CONTACT
87, Mistry Industrial Complex, MIDC Cross Road "A", Andheri (EAST), Mumbai, Maharashtra, India
Tel: 91-22-8251820/8235360
E-mail: sales@bestitword.com
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 |
|
UK
Pound |
1 |
Rs.86.66 |
|
Euro |
1 |
Rs.57.25 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
|
63 |
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 |
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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 |
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