MIRA
INFORM REPORT
|
Report Date : |
29.01.2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
SAN COMPUTECH PRIVATE LIMITED |
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Registered Office : |
105, Jyoti Building, 66 Nehru
Place, New Delhi – 110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.04.2002 |
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Com. Reg. No.: |
55-114910 |
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CIN No.: [Company
Identification No.] |
U72900DL2002PTC114910 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS18219F |
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PAN No.: [Permanent
Account No.] |
AAGCS4733F |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Distributors and Traders of Computer Hardware,
Printers and Peripherals. |
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 : |
Slow and Delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company but its profit margin is under
severe pressure. Financial position is moderate. Payments are slow and
delayed. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
105, Jyoti Building, 66 Nehru
Place, New Delhi – 110019, India |
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Tel. No.: |
91-11-26287013 / 26288674 |
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Fax No.: |
91-11-26288674 / 26292933 |
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E-Mail : |
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Website : |
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Corporate
Office : |
212,
Shakuntla Building 59, Nehru Place, New Delhi – 110019, Delhi, India |
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Tel.
No.: |
91-11-26287013
/ 32355123 / 26445937 |
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Mobile
No.: |
91-9810271201 |
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Fax
No.: |
91-11-26437678
/ 26288563-674 / 26445937 |
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E-Mail
: |
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Website
: |
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Branches
: |
Tel.: 91-11-22024555/22024666
Tel.: 91-11-27376099/27376098 |
DIRECTORS
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Name : |
Mr. Sudhir Saluja |
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Designation : |
Managing Director |
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Address : |
3-21, 1st Floor,
Nehru Enclave, Kalkaji Extn., New Delhi – 110019, India |
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Email : |
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Date of Birth/Age : |
16.11.1969 |
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Date of Appointment : |
10.04.2002 |
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Name : |
Mr. Deepak Saluja |
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Designation : |
Director |
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Address : |
3-21, 1st Floor, Nehru Enclave, Kalkaji Extn., New
Delhi – 110019, India |
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Email : |
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Date of Birth/Age : |
12.12.1971 |
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Date of Appointment : |
10.04.2002 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr. Sudhir Saluja |
252,000 |
54.31% |
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Mr. Deepak Saluja |
212,000 |
45.69% |
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TOTAL |
464,000 |
100.00% |
BUSINESS DETAILS
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Line of Business : |
Distributors and Traders of Computer Hardware,
Printers and Peripherals. |
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Products : |
v
Digital Projector v
CD-Re Writers v
Monitors: CRT, LCD, Plasma Display v
Scanners v
Key Board v
DVD-ROM v
CD-ROM v
Media (CD-R Media, CD-RW Media) v
Mouse Storage v
Compact Discs v
Hard Drives v
Tape Drives v
Zip Discs v
Memory Networking v
Ethernet Cards v
Converters v
Switches v
Servers v
Routers v
Modems v
PCMCIA v
HUBs |
GENERAL
INFORMATION
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No. of Employees : |
25 |
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Bankers : |
v
Centurion Bank v
Syndicate Bank v
Oriental Bank of Commerce v
Union Bank of India v
Citi Bank v
American Express Bank
Limited v
ICICI Bank Limited v
United
Bank of India, Nehru Place, New Delhi |
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Banking Relations : |
Satisfactory
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Auditors : |
Rajiv Bansal and Associates Chartered Accountants 506, Prabhat Kiran, 17, Rajindra Place, New Delhi – 110008,
India |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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464000 |
Equity
Shares |
Rs. 10/- each |
Rs. 4.640 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.640 |
4.640 |
4.640 |
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2] Share Application Money |
0.002 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.397 |
1.474 |
0.693 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.039 |
6.114 |
5.333 |
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LOAN FUNDS |
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1] Secured Loans |
9.328 |
0.126 |
0.223 |
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2] Unsecured Loans |
5.095 |
2.261 |
1.876 |
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TOTAL BORROWING |
14.423 |
2.387 |
2.099 |
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DEFERRED TAX LIABILITIES |
0.001 |
0.011 |
0.037 |
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TOTAL |
21.463 |
8.512 |
7.469 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.561 |
1.481 |
1.744 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
49.500
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11.034 |
4.369 |
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Sundry Debtors |
46.536
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34.168 |
27.549 |
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Cash & Bank Balances |
0.426
|
3.568 |
0.951 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.837
|
0.730 |
1.791 |
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Total Current Assets |
100.299
|
49.500 |
34.660 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
80.574
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42.062 |
28.813 |
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Provisions |
0.870
|
0.479 |
0.220 |
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Total Current Liabilities |
81.444
|
42.541 |
29.033 |
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Net Current Assets |
18.855
|
6.959 |
5.627 |
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MISCELLANEOUS EXPENSES |
0.047 |
0.072 |
0.098 |
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TOTAL |
21.463 |
8.512 |
7.469 |
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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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375.925 |
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Profit/(Loss)
Before Tax |
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0.629 |
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Provision
for Taxation |
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0.240 |
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Profit/(Loss)
After Tax |
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0.389 |
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Total
Expenditure |
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374.738 |
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
--
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-- |
0.10 |
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Net
Profit Margin (PBT/Sales) |
(%) |
--
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-- |
0.17 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
--
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-- |
1.72 |
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Return
on Investment (ROI) (PBT/Networth) |
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--
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-- |
0.12 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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13.62
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7.35 |
5.84 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.23
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1.16 |
1.19 |
LOCAL AGENCY
FURTHER INFORMATION
It also sells its own branded desktop under the Millennium Tornado
series.
It does not import.
Subject does not export and it sells locally.
The subject is authorised Distributors of the following companies:
v
BenQ
v
Samsung
v
Seagate
v
Mercury
v
Lomega
v
Maple
v
Epson
v
TVSE
v
Microsoft
v
Intel
v
Lanbit
v
Wipro
v
LG
v
Omega
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Name of the company |
SAN COMPUTECH PRIVATE LIMITED |
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Presented By |
MR. SUDHIR SALUJA – MANAGING DIRECTOR |
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1) Date and description of instrument creating the change |
Agreement
for Trade credit dated 18.01.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
6.000 Millions as the overdraft facility under United Trade Credit Scheme. |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The
stocks of “Computer Peripherals” are charged by way of 1st charge
as security. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The
whole of borrower’s stock consisting of stocks of computer peripherals a the
borrower premises or Godown at 212, Shankuntla Building, 59, Nehru Place, New
Delhi; 105, 66 Jyoti Building, Nehru Place New Delhi; 39, Community Centre,
Wazir Pur Industrial Area, Delhi; 214, 1st Floor, 37, Veer
Savarkar Block, Shakarpur, Delhi; 215, 1st Floor, 37, Vikas
Complex, Vikas Marg, Delhi, and 209,
1st Floor, 37 Vikas Complex, Vikas Marg, Delhi, shall remain
hypothecated to the bank and its assigns by way of 1st charge as
security for the due repayment to the bank on demand of the debt balances in
the accounts at any time against in respect of the credit facilities and
future indebtness and liabilities of the borrowers to the bank of any kind in
any manners whether solely or jointly, primary / collateral accrued or
accruing with all relative interests, costs, charges and expenses. The
rate of interest payable is 12.5 % per annum with monthly rest. The
borrower agree to pay additional / penal interest as per terms of sanction,
over and above the aforesaid rate in case of any default. The
borrower declare and confirm that the stock hypothecated to the bank are the
absolute properties of the borrowers and are free from any prior charge, lien
or encumbrance The
borrower agrees that is shall not create any lien, charge, mortgage or
encumbrance in favour of any person other than bank without the consent of
the bank in writing. The
borrower agrees to keep fully ensured the stocks hypothecated to the bank. The
borrower shall repay the amount of the principal together with interest,
costs, charges by way of monthly instalments commencing from February, 2005. All
other terms and conditions are as mentioned in the ‘Agreement for trade
credit’ dated 18th
January, 2005. |
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5) Name and Address and description of the person entitled to the charge. |
United
Bank of India, Nehru Place, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Memorandum
of agreement for trade credit dated 01.02.2006 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The overall
United Trade credit scheme of Rs. 6.000 Millions granted by United Bank of
India, Nehru Place, New Delhi has been enhanced to Rs. 8.450 Millions The
whole of borrower’s stock consisting of stocks of computer peripherals a the
borrower premises or Godown at : 212,
Shankuntla Building, 59, Nehru Place, New Delhi; 105,
66 Jyoti Building, Nehru Place New Delhi; 103, 1st
Floor,39, Community Centre, Wazir Pur Industrial Area, Delhi; 214, 1st
Floor, 37, Veer Savarkar Block, Shakarpur, Delhi; 215, 1st
Floor, 37, Vikas Complex, Vikas Marg, Delhi, 209, 1st
Floor, 37 Vikas Complex, Vikas Marg, Delhi, shall
remain hypothecated to the bank and its assigns by way of 1st
charge as security for the due repayment to the bank on demand of the debt
balances in the accounts at any time against in respect of the credit
facilities and future indebtness and liabilities of the borrowers to the bank
of any kind in any manners whether solely or jointly, primary / collateral
accrued or accruing with all relative interests, costs, charges and expenses.
All
other terms and conditions are as per the sanction letter dated 30.01.2006
and as per the memorandum of agreement for trade credit dated 01.02.2006. |
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.44.24 |
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UK
Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
|
32 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|