MIRA
INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION DETAILS
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Name : |
SRI
DURGA COMPUTECH PRIVATE LIMITED |
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Registered Office : |
"SRI DURGA", No:179/24, 27th Cross, 6th
Block, Jayanagar, Bangalore 560082, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
18.09.2003 |
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Com. Reg. No.: |
08-32593 |
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CIN No.: [Company
Identification No.] |
U30007KA2003PTC032593 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS14272G |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
Trading / distribution / marketing of different
kinds of computers, peripherals, related accessories & consumables,
software products 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
15000 |
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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. Trade relations are
fair. No latest financial information could be available from any sources. Management
remained non-cooperative during current investigation. However,
the company can be considered for small to mediocre business dealings at
usual trade terms and conditions on merits. |
LOCATIONS
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Registered Office : |
"SRI DURGA", No:179/24, 27th Cross, 6th
Block, Jayanagar, Bangalore 560082, Karnataka, India |
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Tel. No.: |
91-80-26639956 TO 26639965 |
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Fax No.: |
91-80-26639977 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. ft. |
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Location : |
Leased |
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Head
Office : |
No.
24/D, 1st Floor, Police Station Road, Near Allahabad Bank off.,
Dvg Road, Basavanagudi, Bangalore – 560004, Karnataka, India |
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Tel.
No.: |
91-80-26604546
/ 26611577 / 26611578 |
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Fax
No.: |
91-984417221 |
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Branches
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SOLE PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Sanath Babu |
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Designation : |
Full Time Director |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Diploma In Telecom Engineering |
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Name : |
Mr. P C Nanjunda |
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Designation : |
Full Time Director |
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Date of Birth/Age : |
29
Years |
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Qualification : |
B.COM |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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Percentage of Holding |
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Directors
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100 % |
BUSINESS DETAILS
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Line of Business : |
Trading / distribution / marketing of different
kinds of computers, peripherals, related accessories & consumables,
software products etc |
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Imports from : |
Singapore |
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Terms : |
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Selling : |
Local: Client Based Credit Upto 30 Days + Cash
Basis Customers |
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Purchasing : |
L/C, Local: Credit Upto 30 Days |
GENERAL INFORMATION
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Suppliers : |
Hewlett Packard India Limited, India IBM India Limited, India Micro Soft, India Gigabyte, India D'link, India American Power Conversion India Limited, India Samsung Electronics, India |
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No. of Employees : |
25 |
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Bankers : |
ING Vysya Bank Limited, Avenue Road, Bangalore
560002 |
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Facilities : |
Rs. 5.000 Millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Current:- Dhariwal & Singhal Chartered Accountants Bangalore 560020 Previous:- Chetan & Gurumurthy Chartered Accountants Bangalore |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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250,000 |
Equity Shares |
Rs.10/-
Each |
Rs. 2.500 Millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs.10/-
Each |
Rs. 0.100 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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2.400 |
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3] Reserves & Surplus |
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1.231 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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3.731 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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4.084 |
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TOTAL BORROWING |
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4.084 |
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DEFERRED TAX LIABILITIES |
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0.374 |
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TOTAL |
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8.189 |
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APPLICATION
OF FUNDS |
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FIXED
ASSETS [Net Block] |
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6.246 |
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Capital
work-in-progress |
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0.000 |
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CURRENT
ASSETS, LOANS & ADVANCES |
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Inventories |
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15.101 |
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Sundry
Debtors |
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32.100 |
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Cash
& Bank Balances |
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0.330 |
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Other
Current Assets |
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0.000 |
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Loans
& Advances |
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2.013 |
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Total Current
Assets |
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49.544 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities |
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47.330 |
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Provisions |
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0.330 |
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Total Current
Liabilities |
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47.660 |
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Net Current Assets |
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1.884 |
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MISCELLANEOUS
EXPENSES |
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0.059 |
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TOTAL |
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8.189 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Sales Turnover [including other income] |
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166.710 |
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Profit/(Loss) Before Tax |
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1.933 |
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Provision for Taxation |
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0.702 |
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Profit/(Loss) After Tax |
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1.231 |
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Total Expenditure |
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164.777 |
KEY RATIOS
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PARTICULARS |
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31.03.2004 |
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PAT / Total Income |
(%) |
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0.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.46 |
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Return on Investment (ROI) (PBT/Networth) |
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0.52 |
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Debt Equity Ratio (Total Liability/Networth) |
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13.87 |
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Current Ratio (Current Asset/Current Liability) |
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1.04 |
LOCAL AGENCY FURTHER INFORMATION
Occasionally imports some of the traded products.
Subject has no manufacture, export, collaboration or agencies held
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.30 |
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UK Pound |
1 |
Rs.87.61 |
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Euro |
1 |
Rs.57.61 |
SCORE & RATING EXPLANATIONS
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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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
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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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