MIRA
INFORM REPORT
|
Report Date : |
05.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
VAJAWAT
COMPUTERS |
|
|
|
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Registered Office : |
Shop
No. 16, Majestic Plaza, 18 Narasingapuram Street, Mount Road, Chennai –
600002, Tamilnadu |
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|
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Country : |
India |
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|
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Financials (as on) : |
31.03.2006 |
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|
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Date of Incorporation : |
13.08.1998 |
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|
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TNGST : |
0581401
dtd. 98-99 |
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|
|
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Legal Form : |
Sole
Proprietory Concern |
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|
|
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Line of Business : |
Trader
and Distributor of Computers and Computer Peripherals and they are Dealer of
Xenities- Aaamar Computers |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
40000 |
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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 concern having satisfactory track. Trade relations are
fair. Payments are usually correct and as per commitment. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
18
Navasingapuram Street, Shop No. 16, Majestic Plaza, Mount Road, Chennai – 600
002, Tamilnadu, India. |
|
Tel. No.: |
91-44-28526562/
28516122 / 42185442 |
|
Mobile : |
91-9841153605 |
|
Fax No.: |
91-44-28561113
/ 28526562 |
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E-Mail : |
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Website : |
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Area : |
135
sq. ft. |
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Location : |
Rented
|
|
|
|
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Warehouse : |
13,
Rajendra Complex, Narsingapuram Street, Chennai – 600002, Tamilnadu, India |
|
Area : |
250
sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr.
Hitesh S. Vajawat |
|
Designation : |
Proprietor |
|
Address : |
19
Samudra Mudali, 57, Chennai – 600003 |
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Date of Birth/Age : |
30
years |
|
Qualification : |
B. Com |
|
Experience : |
8
years |
|
Name : |
Mr.
Dinesh Jain |
|
Designation : |
Chief
Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Trader
and Distributor of Computers and Computer Peripherals. and they are Dealer of
Xenities- Aaamar Computers |
|
|
|
|
Products : |
Processors Motherboards Hard
Drives Monitors Servers Other
Drives |
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|
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Agencies Held : |
Intel
– Authorised Distribution Samsung
– Starelite Partner Seagate
– Premier Partner WEP –
Authorised Dealer |
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Imports from : |
China,
Korea and Japan |
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Terms : |
|
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Selling : |
Credit
[35 – 45 days] |
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|
|
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Purchasing : |
Cash
and Credit [15 – 30 days] |
GENERAL
INFORMATION
|
No. of Employees : |
14 |
|
|
|
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Bankers : |
Central
Bank of India, Anna Salai, Chennai – 600 002 Indian
Bank, Chintadaripet |
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|
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Facilities : |
-- |
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|
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Banking Relations : |
Satisfactory |
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Auditors : |
B. T.
Vajawat & Company Chartered
Accountants, Perumac
Mudali, 51, Chennai – 600079 Tel.
No. : 91-44-25381593 Fax
No. : 91-44-25381594 |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
3.000 millions |
|
Borrowed : |
Rs.
7.000 millions |
|
Total : |
Rs.
10.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
290.000 |
180.000 |
90.000 |
|
|
|
|
|
|
Net Profit |
N.A. |
1.500 |
0.700 |
LOCAL AGENCY
FURTHER INFORMATION
The
concern acts as a Authorised Dealers of the following :
Ø
Samsung
Ø
Seagate
Ø
Intel
Ø
Wipro
Ø
TVS
Trade
Reference :
Esys
Information Technologies, Ashok Nagar
Contact
Person : Mr. Sundaram
Mobile :
91-982789706
Redington
India Limited, Guindy
Contact
Person : Mr. Shiva
Mobile :
91-9382128346
Ingram
Micro [India] Limited, Guindy
Contact
Person : Mr. Nanda
Mobile :
91-9381068453
This
firm is situated in the center of the city in one of the bye lanes of Anna
Salai. Now Narasingapuram Street is full of electric goods and computer
shoppes. About 300 shops are situated on that street alone. Majestic Plaza is a
building at the backside of Raheja Towers next to Bombay Halwa house and India
Silk center on Mount road. Majestic Plaza has about a dozen computer shops,
where they sell computers, motherboards, accessories of all types for a
computer.
Vajawat
is a shop no. 16. The room is about 15 X 15. The rooms is air conditioned and
is fully stocked with computer peripherals. Mr. Hitesh Vajawat himself mans the
counter. There are two other people helping him. A total of 6 People work in
the counter.
At the
time they visited the place, was filled with buyers and business was brisk.
A medium
sized but reputed computer and computer peripherals dealer.
According to market
sources, the price war between Intel and AMD is part of their global strategies
to take on each other. And, it is understood that Intel is facing competition
from AMD and its growing popularity across the globe. "AMD is surely
growing across the world and no doubt about it. At the same time, it is true
that Intel is afraid of competition, which is very explicit behind such moves.
But, Intel has the muscle power to wage a (price) war and turn the battle in
its favor," said a leading reseller from upcountry market in Tamil Nadu,
who is also a key dealer for Intel.
Intel's
price cut in the fast moving skews has raised many doubts and spun off stories
among the channels. According to resellers, Intel will completely phase out
Celeron and bring in entry-level P4 to Celeron place, while Dual-Core will be
positioned in P4 rank. "They are expecting good-configuration PCs to be
sold below Rs 0.010 Millions and mid-range P4 machines at Rs 0.014 Millions.
This is something which industry totally unexpected and it will surely spur the
PC growth in the country," opined a leading reseller from Chennai.
"Celeron
processors are already not available with the distributors and whatever is
available in the market, it is only through parallel import. The resellers are
also not stocking enough goods (Intel processors) as the news about price cut
is quite widespread now," said another reseller from Chennai.
However, few resellers
in the city have confirmed that they hold some stocks and the product movement
is very slow, as people are waiting for the major price cut from Intel on July
23. There is also news that Intel is going to appoint `Distribution Associates'
(similar to sub-distributors) under the national distribution partners. Supreme
Computers, Vajawat and RM Computers are the likely names for distribution
associate in Chennai.
They
mainly deal in Xenitis Computers
A
Short note on Xenitis Computers
A group of young professionals with impeccable academic record, solid professional reputation and enviable success achieved at an early age, decided to move away from their monotonous safe lane. Reluctant to keep the fumes of hope confined in the conventional success they ventured to sow the seeds of brilliance. And soon the harvest came in – ‘Xenitis’, they named it.
In all these years Xenitis collected into its fold like-minded people, who wanted to take up the Xenitis challenge to make their mark. And soon results came outgrowing all expectations. Xenitis son branched out into various industries and other areas of specialization.
At Xenitis they describe ourselves as a plane where brilliance is respected, experiments are encouraged, being innovative is essential, success is amply rewarded and failures are unheard of.
Aamar
PC
Aamar PC is the first branded PC manufactured in Eastern India.
Aamar PC has expanded in the whole of Indian Subcontinent having its own branch offices in almost all major cities in India
It is available under different brand names in
different parts of the country:
In Orissa, West Bengal and other parts of Eastern India – as AAMAR PC
In Mumbai, Nasik, Pune, Ahmedabad and other parts of Western India – as AAMCHI PC
In Bangalore, Chennai, Hyderabad and other parts of Southern India – as NAMMO PC
In Delhi, Chandigarh and other parts of Northern India – as AAPNA PC
Aamar PC has become the highest selling and the most prestigious computer brand in India.
The only one of its kind, state-of-the-art manufacturing unit of Aamar PC, situated at Chinsurah, Hoogly, caters to the huge demand of the machines
Spanning around 40,000 sq. ft, it has the capacity to manufacture 4000 boxes per month.
The key factors in the phenomenal growth and demand for Aamar PC computers
has been its:
Wide spread availability
Reasonable pricing
Quality and Reliable products
Prompt after sales services along with structured service centers
Today, Xenitis has unfolded new range of PC products and accessories starting
from Desktop, Laptops and High end Servers, which shall redefine the looks and
power of PC in the subcontinent in terms of Colorful Computers & first
indigenously manufactured Laptops.
WEBSITE DETAILS
Company Background
To talk about computers is to talk about the best of hardwares that
support the softwares. To talk about the best of hardwares is to talk about
VAJAWAT COMPUTERS.
They are : the Authorised Dealers of Samsung, Seagate, Intel®, Wipro & TVS.
They deal : in processors, motherboards, hard drives, monitors, servers
and other devices.
But most of all they deal with TRUST. Once a customer walks into their humble
store, a bond is created for life, and there is no secret to this but the fact
that they offer quality products, value for money and immediate
replacements.
Their only form of publicity, the good word from one satisfied customer to
another, has brought a small enterprise as theirs to a multi-crore
business venture today. Every leader has one of his own and their choice is
Intel® – authorized as their sub distributors of CPUs and Motherboards.
And as their choice, they have crowned them as Best Server Patner for Tamil
Nadu for the last 3 quarters.
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.44.13 |
|
UK
Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.56.99 |
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 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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 |