MIRA
INFORM REPORT
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Report Date : |
19.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUPREME
COMPUTERS INDIA PRIVATE LIMITED |
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Registered Office : |
No. 18/18, Narasingapuram Street, Off Mount Road, Chennai – 600002,
Tamilnadu, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
20.07.1999 |
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Com. Reg. No.: |
18-42878 |
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CIN No.: [Company
Identification No.] |
U30006TN1999PTC042878 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHES22326D |
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PAN No.: [Permanent
Account No.] |
AAGCS1406H |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Distribution & Marketing of IT products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
took-over the running business of Supreme Computers, a Proprietory concern
which was established in year 1994. Trade
relations are fair. Nothing adverse reported. Payments are usually correct
and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions with some caution, initially.
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LOCATIONS
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Registered Office : |
No.
18/18, Narasingapuram Street, Off Mount Road, Chennai – 600002, Tamilnadu,
India |
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Tel. No.: |
91-44-28552279,
28416521 (Hunting), 28411111, 28410011, 28410003, 28410088, 28416522, 28550884, 28591430 |
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Mobile No.: |
91-9840085482 |
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Fax No.: |
91-44-28510904 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Anraj Jain |
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Designation : |
Director
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Address : |
6/3,
G. A. Road, Chennai – 600021, Tamilnadu, India |
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Date of Appointment : |
20.07.1999 |
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Name : |
Mr.
Jitendra Jain |
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Designation : |
Director
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Address : |
6/3,
G. A. Road, Chennai – 600021, Tamilnadu, India |
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Date of Appointment : |
20.07.1999 |
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Name : |
Mr.
Rakesh Kumar |
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Designation : |
Director
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Address : |
6/3,
G. A. Road, Chennai – 600021, Tamilnadu, India |
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Date of Appointment : |
20.07.1999 |
BUSINESS DETAILS
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Line of Business : |
Distribution & Marketing of IT products |
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Products : |
Computers,
Computer Peripherals, Printers, Scanners, Fax-Modems, Multimedia Products,
Colour Monitors, DVD-ROM Drives, CD Rewriters, P4 / PII Mother Boards,
Processors, Digitals Cameras, High End AGP Cards, RD Rams, SD Rams, Servers,
Notebook Computers and IT Upgrades, Video Conferencing Kits, cabinets, SCSI
and IDE Hard Disk Drive, UPS, Accessories and Consumables. |
GENERAL
INFORMATION
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Bankers : |
Standard
Chartered Bank |
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Banking Relations : |
-- |
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Auditors : |
M. G.
Bohara and Company Chartered
Accountants Maruthi
Complex, No. 60-A, N. S. C. Bose Road, 1st Floor, Sowcarpet,
Chennai – 600079, Tamilnadu, India |
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Tel. No.: |
91-44-25357676
/ 25356868 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
19500 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.195 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.195 |
0.195 |
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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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0.024 |
0.029 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.219 |
0.224 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.219 |
0.224 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.001 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.035 |
0.226 |
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Other Current Assets |
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0.197 |
0.000 |
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Loans & Advances |
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0.005 |
0.005 |
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Total Current Assets |
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0.237 |
0.232 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.027 |
0.020 |
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Provisions |
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0.000 |
0.000 |
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Total Current Liabilities |
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0.027 |
0.020 |
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Net Current Assets |
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0.210 |
0.212 |
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MISCELLANEOUS EXPENSES |
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0.009 |
0.012 |
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TOTAL |
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0.219 |
0.224 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
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0.022 |
0.020 |
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Profit/(Loss)
Before Tax |
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(0.002) |
0.006 |
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Provision
for Taxation |
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0.000 |
0.000 |
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Profit/(Loss)
After Tax |
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(0.002) |
0.006 |
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Total
Expenditure |
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0.024 |
0.014 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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(9.09) |
30.00 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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(9.09) |
30.00 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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(0.84) |
2.59 |
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Return
on Investment (ROI) (PBT/Networth) |
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(0.01) |
0.03 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.12 |
0.95 |
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Current
Ratio (Current
Asset/Current Liability) |
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8.78 |
11.60 |
LOCAL AGENCY
FURTHER INFORMATION
The
company has changed its name to Supreme Computers India Private Limited. The
company has taken over the business of M/s Supreme Computers, Proprietor, Mr.
A. Rakesh Jain, with effect from 01.04.2005, as per the Book Value of Supreme
Computers as per the Audited Balance Sheet as on 31.03.2005.
The
company has changed its name from Supreme office Automation Private Limited to
Supreme Computers India Private Limited with effect from 18.022005.
AS PER
WEBSITE
Founded In October 1994, Supreme Computers, has achieved excellence in the trade and distribution of IT products portfolio virtually comprising of all computer hardwares, peripherals, accessories, multimedia, audio, video-editing products, and software. In a short span of five years, with a team of dedicated and experienced people headed by Rakesh Jain has achieved a distinguished position in the Indian IT industry. The key to its success has been to pay careful attention to its customers by providing them complete range of products at competitive pricing with professional services and strong after sales and warranty support.
The company has a team of right people, talented, flexible and empowered to act rightly for the customers, having keenness & willingness to serve them in all respects, using the right process thereby helping then to achieve the desired growth. The company has forged strong links with all major IT Players in India and has vast resources of products, technology & manpower at its disposal. The company commit to serve and support its business partners & customers and ensure them complete and total satisfaction.
Their Business Activities can be summarised as :
Distribution & Marketing of IT products
Selling of MNC Branded Computers
Solution Providing on Audio / Video Editing Products
Their Vision is to have proactive and prompt interaction with all their business partners, to be responsible in their approach, to have integrity in conduct of their business and accountability for all their actions. Their aim is to provide online business transactions using this website, where their channel partners & customers can seek various information about all major IT products, log in their orders, using their users ID Password and other necessary controls.
Vendors: HP, Samsung, Seagate, Canon, Epson, Entrasys, Cisco, Intel
Highlights: Recorded 44 percent growth in revenue Spruce up technical manpower to provide post-sales service Chennai-based sub-distributor Supreme Computers has evolved a simple formula to sustain growth: Include more products under distribution portfolio and focus on channel partners.
Set up in 1994, Supreme currently sub-distributes over 40 brands of varied IT products, ranging from hardware, peripherals, networking and multimedia. Sourcing from national players like Reding on, Ingram Micro and Tech Pacific, Supreme addresses the market through its retail outlet in Chennai and 200 channel partners.
Rakesh Jain, director of Supreme Computers, said, "We are in the process of roping in more quality products." The company is looking at channel partners to handle the new products. It has 100-125 assemblers, 15-20 dealers and 20-25 value-added resellers.
The emphasis, he said, would be to involve more VARs across the country. The company has two offices in Chennai and Bangalore and an RMA (replacement material acceptance) centre in Chennai to address post-sales service issues of the customers.
Supreme employs 15 people, and the company intends to spruce up its technical manpower to provide value-add and strengthen post-sales service.
Meanwhile, Supreme would invest on channel promotions such as road shows and seminars to update them on the latest technologies.
Subject’s revenue grew from Rs 250 millions in 1999-2000 to Rs 360 millions last fiscal. It has projected Rs 420 millions this fiscal. The company generates 80 percent revenue from its channel partners while the remaining comes through direct sales.
Giving a break up of last fiscal revenue, Jain said 40 percent was generated from products like motherboards, hard disk drives and CPUs. An equal amount was chipped in by peripherals. The remaining 20 percent were divided equally among networking products.
Besides Rakesh, the other key decision-makers in the company are Jitendra Jain and J Anraj Jain.
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 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. 44.25 |
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UK
Pound |
1 |
Rs. 87.30 |
|
Euro |
1 |
Rs. 57.36 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
|
36 |
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 |
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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 |
|
<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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