MIRA
INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION DETAILS
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Name : |
RHYTHM
ELECTRONICS |
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Registered Office : |
201-204, Monalisa Apartment, Near Kalyan Hotel, Sayajigunj,
Vadodara-390005, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Partnership concern with an unlimited
liability of the partners |
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Line of Business : |
Trader in Computer Systems, Peripherals, Providing Networking Solutions and Assembled Note Books, etc. |
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
20000 |
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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 and reputed concern having satisfactory track. Partners
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
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
201-204, Monalisa Apartment, Near Kalyan Hotel, Sayajigunj,
Vadodara-390005, |
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Telfax : |
91-265-2362468/2361991 |
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Mobile No.: |
91-9824059154 |
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E-Mail : |
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Website : |
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Area : |
950 Sq.ft. |
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Location : |
Owned |
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Branches/
Godown : |
Opposite Gram Panchayat Office, Village Dashrath, Near Channi, Ahmedabad-Baroda High way, District Baroda-391740, Gujarat, India |
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Area : |
300
Sq.ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Yogesh R. Thakkar |
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Designation : |
Managing Director |
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Date of Birth/Age : |
38 years |
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Qualification : |
B. E. (Electronics) |
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Experience : |
15 years |
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Name : |
Mr. Rameshbhai Thakkar |
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Designation : |
Partner |
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Date of Birth/Age : |
58 years |
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Qualification : |
Undergraduate |
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Experience : |
36 years |
BUSINESS DETAILS
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Line of Business : |
Trader in Computer Systems, Peripherals, Providing Networking Solutions and Assembled Note Books, etc. |
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Products/ Agencies Held : |
INTEL-
Processors, Mother Boards Ø SAMSUNG- Monitors, Hard Drives,
Oms Products(Writer, Ø LG- Monitors, LG My Pc, Oms
Products(Writer, Ø HP- Entry Model Printers(All in
One,Laserjet,Mfp,Deskjet,Officejet),Scanners Ø CREATIVE- Speaker, Sound Cards Ø ASUS- Mother Boards Ø MERCURY- Mother Boards, Cabinets,
Speakers Ø TVSE- Keyboards Ø SEAGATE- Hard Drives Desktops Ø
Intel® Pentium® 4 Processor 3.06 GHz Ø
Intel® Celeron® D Processor up to 2.4 GHz Ø
Intel® Pentium® 4 Processors with HT Technology 3.0 GHz Ø
Intel® Xenon® Processor with HT Technology 3.0 GHz |
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Terms : |
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Selling : |
Credit (15/20 days) |
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Purchasing : |
-- |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End User Ø
M. S. University of Baroda Ø
DDE - Org System Limited Ø
Indian Petrochemicals Corporation Limited Ø
GIPCL Ø
GACL Ø
Jyoti Limited Ø
Advance Spectra Tek Private Limited Ø
Bayer Diagnostic Limited Ø
Bayed ABS Industries Limited Ø
Crompton Greaves Limited Ø
Ø
FAG Precision Bearing ( Ø
Oil & Natural Gas Company Limited Ø
Bell Ceramics Limited Ø
Sayaji Iron & Engg. Company Limited Ø
Arena Multimedia (Manjalpur Centre). Ø
Mobile Communication Ø
Motorola Lubricants Private Limited Ø
Elysium Pharmaceuticals Limited Ø
Cybernaton Infotech Private Limited Ø
Vadodara Municipal Corporation Ø
Torrent |
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No. of Employees : |
17 |
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Bankers : |
Allahabad Bank,
Sayajigunj Branch, |
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Facilities : |
Cash Credit of Rs.2.500 millions |
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Banking Relations : |
Satisfactory |
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Membership : |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.5.000
millions |
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Borrowed : |
-- |
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Total : |
Rs.5.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Partners Capital |
5.000 |
5.000 |
5.000 |
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Annual Turnover |
90.000 |
80.000 |
95.000 |
Expected
Turnover (2007) : Rs.95.000 millions
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
Subject is engaged in the business of Trader in Computer Systems, Peripherals, Providing Networking Solutions and Assembled Note Books, etc.
Subject is authorised distributor for Wipro-Epson Peripherals, HP, Vintron, Quantum, LG, Soni, Microtech, Samsung, Intel, Dex and Compaq, etc.
It is in trade terms with :-
Ø Wipro
Ø Samsung
Ø Intel
Ø JP
Ø Seagate
Ø Sony
Website Details :
Last year the Indian
Industry getting serious about the Y2K Problems, making their own units
industry in line with Enterprise Resources well planned and also the total
Industry Free from Piracy and many more things.
They also at have
experienced many changes.
First they came out
with First Internet Ready PC with a Local Brand in
Second they implemented ISO 9002 to add more on their Services. Third and
important change to happen with them was, they become "An Authorized
Business Partner for HP & Compaq Range of PCs and Servers." Still
going stronger with our First Alliance with WIPRO Peripherals for its Total
printer range and ISO 9002 WIPRO Authorized Service Centre.
Till date they and their
good organization had been evaluating for their PCs requirement.
They are Authorized Distributor for the Brand name as Under.
Ø
Hp
Ø
Samsung
Ø
Intel
Ø
Wipro
Ø
Mercury
Ø
Dax
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.32 |
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1 |
Rs.86.11 |
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Euro |
1 |
Rs.57.38 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
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46 |
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
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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 |
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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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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 |
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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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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