MIRA
INFORM REPORT
|
Report Date : |
29.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SOGO
COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
D1/1,
Hayes Court, 11/9 Hayes Road,
Richmond Road, Bangalore - 560
025, Karnataka, India |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as on) : |
31.03.2006 |
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|
Date of Incorporation : |
08.12.1997 |
|
|
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|
Com. Reg. No.: |
08-23119 |
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|
|
|
CIN No.: [Company
Identification No.] |
U30009KA1997PTC023119 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS11704A |
|
|
|
|
Legal Form : |
Private
limited liability company |
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|
|
|
Line of Business : |
Traders
of computer hardware, software, electronic products etc |
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
65000 |
|
|
|
|
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 record. Trade
relations are fair. General financial position is satisfactory. Payments are
correct and as per commitment. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office : |
D1/1,
Hayes Court, 11/9 Hayes Road, Richmond Road, Bangalore - 560
025, Karnataka, India |
|
Tel. No.: |
91-80-22120638-41/22273981/6829/22990484 |
|
Fax No.: |
91-80-22290324/51325960 |
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E-Mail : |
|
|
Website: |
http://www.sogo.com, http://www.sogoindia.com |
DIRECTORS
|
Name : |
Mr. G.
Jayamuni Rao |
|
Designation : |
Managing
Director |
|
Address : |
174, 8th
Cross, 5th Main, J Block, Koramangala, Bangalore - 560 096,
Karnataka |
|
Date of Birth/Age : |
21.07.1959 |
|
Date of Appointment : |
17.01.1998 |
|
|
|
|
Name : |
Mr. J.
Marry Rao |
|
Designation : |
Director |
|
Address : |
174, 8th
Cross, 5th Main, J Block, Koramangala, Bangalore - 560 096,
Karnataka |
|
Date of Birth/Age : |
11.11.1962 |
|
Date of Appointment : |
18.12.1997 |
|
|
|
|
Name : |
Mr. S.
P. Raju |
|
Designation : |
Director |
|
Address : |
8, R S
Nimkar Marg, Mumbai - 400 008, Maharashtra |
|
Date of Appointment : |
18.12.1997 |
|
|
|
|
Name : |
Mr.
Nataraj Shankar |
|
Designation : |
Director |
|
Address : |
#26,
Basappa Road, Shantinagar, Bangalore - 560001, Karnataka |
|
Date of Appointment : |
18.12.1997 |
KEY EXECUTIVES
|
Name
: |
Mr.
Dev Kumar |
|
Designation
: |
Senior
Executives |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
|
Mr. G.
Jayamuni Rao |
70000 |
|
|
Mr. J.
Mary Rao |
70000 |
|
|
Mr.
Gangoji Rao |
58000 |
|
|
Miss.
Lingubai Rao |
52000 |
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|
|
|
|
|
|
|
|
|
Category of Shareholders |
|
Percentage of
Holding |
|
Directors or
relative of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders
of computer hardware, software, electronic products etc |
GENERAL
INFORMATION
|
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||||||
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No. of Employees : |
20 |
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Bankers : |
Union
Bank of India, Richmond Road Branch., Bangalore-25 |
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Facilities : |
|
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Banking Relations : |
Unknown |
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|
|
|
Auditors : |
Mukesh
Shet & Associates Chartered
Accountants |
|
Address: |
679/1,
11th B Main, Rajaji Nagar II Block, Bangalore - 560 010, Karnataka |
|
|
|
|
Associates/Subsidiaries : |
Sogo
Computers A
Proprietory concern Mr.
Jayamuni Rao with Rs. 481.400 Millions turnover during 2001-02 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5,00,000 |
Equity
Shares |
Rs.10/- each |
Rs. 5.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity
Shares |
Rs.10/- each |
Rs.5.000 millons |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
2.500 |
0.100 |
|
|
2] Share Application Money |
5.143 |
2.193 |
4.593 |
|
|
3] Reserves & Surplus |
6.355 |
1.217 |
0.427 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.498 |
5.910 |
5.120 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.841 |
4.856 |
0.000 |
|
|
2] Unsecured Loans |
2.278 |
1.739 |
1.414 |
|
|
TOTAL BORROWING |
47.119 |
6.595 |
1.414 |
|
|
DEFERRED TAX LIABILITIES |
0.439 |
0.194 |
0.021 |
|
|
|
|
|
|
|
|
TOTAL |
64.056 |
12.699 |
6.555 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10.609 |
2.615 |
0.347 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
74.719
|
8.138 |
4.801
|
|
|
Sundry Debtors |
105.549
|
11.761 |
8.292
|
|
|
Cash & Bank Balances |
30.692
|
3.205 |
0.246
|
|
|
Other Current Assets |
3.253
|
0.434 |
0.000
|
|
|
Loans & Advances |
0.000
|
0.000 |
0.966
|
|
Total Current Assets |
214.213
|
23.538 |
14.305 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
154.847
|
12.231 |
7.738
|
|
|
Provisions |
5.923
|
1.228 |
0.364
|
|
Total Current Liabilities |
160.770
|
13.459 |
8.102
|
|
|
Net Current Assets |
53.443
|
10.079 |
6.203
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.005 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
64.056 |
12.699 |
6.555 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2004 |
|
Sales Turnover [including other income] |
|
|
68.453 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
|
0.550 |
|
Provision
for Taxation |
|
|
0.353 |
|
Profit/(Loss)
After Tax |
|
|
0.197 |
|
|
|
|
|
|
Export
Value |
|
|
NA |
|
|
|
|
|
|
Import
Value |
|
|
NA |
|
|
|
|
|
|
Total
Expenditure |
|
|
67.902 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
|
NA
|
NA |
3.00
|
|
|
|
|
|
|
|
Net
Profit Margin(PBT/Sales) |
|
NA
|
NA |
0.080
|
|
|
|
|
|
|
|
Return
on Total Assets(PBT/Total Assets} |
|
NA
|
NA |
3.75
|
|
|
|
|
|
|
|
Return
on Investment (ROI)(PBT/Networth) |
|
NA
|
NA |
0.10
|
|
|
|
|
|
|
|
Debt
Equity Ratio(Total Liability/Networth) |
|
12.60
|
3.39 |
1.86
|
|
|
|
|
|
|
|
Current
Ratio(Current Asset/Current Liability) |
|
1.33
|
1.75 |
1.76 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets :
Computer
Electrical
Equipments
Furniture
& Fixtures
Office
Equipments
Sogo Computers Pvt. Ltd (Bangalore,
India)
FOUNDED in October 1994, Sogo Computers Pvt Ltd, 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 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.
Visit : http://www.sogocomputers.net
Press Releases
Wipro Infotech announces "Growth Partner
Program" to enhance market addressal- Appoints SOGO Computers as local
distributor in Bangalore
24/06/2002
Bangalore: Wipro Infotech,
the domestic, Asia Pacific & Middle East IT division of USD 715 Mill. Wipro
Limited today announced the launch of its ambitious "Growth Partner
Program" in Bangalore. The program aims to identify and motivate
enthusiastic, committed and charged re-seller partners who can grow their
business by turbo charging Wipro's growth in the domestic market. The 275
strong Business Partner network of Wipro has played a pivotal role in
contributing to Wipro Infotech's sales growth over the last two decades. Its
Business Partners contributed to over 60% of the total desktop sales of Wipro
Infotech last year. They not only handle desktops but also the Sun Servers,
Networking products, Wipro branded Servers & notebooks and software
products.
Wipro Infotech has embarked on a mission to multiply market addressal by
enhancing its reach in smaller towns and cities by adopting a two-tier
distribution model. By virtue of this model, it would appoint local
distributors who would carry Wipro Infotech's proposition to small and medium
corporates through their associates.
In line with this strategy, it today announced the appointment of SOGO
Computers Pvt. Ltd, ; as its local distributor for Karnataka. SOGO will
carry the entire suite of Wipro Infotech's products, services and solutions to
the market. SOGO has branches in Bangalore, Hubli, Mysore & Mangalore in
addition to a retail showroom at Koramangala.
Speaking at an event hosted by the company for the associates in
Bangalore, Mr. P Anirudh, Head-Product Sales Division, Wipro Infotech, said,
"Today, they deliver a comprehensive suite of IT products, Services and
Solutions to Corporates across 100 towns and cities in India. The objective of
the Growth Partner Program is to enhance this reach and carry their end-to-end
proposition to a larger base of customers including small and medium
corporates. As a consequence, they would also like to see their Growth partners
multiply their business."
Mr.Jaimuni Rao, Proprietor, SOGO Computers Pvt. Ltd, said, " They
are delighted to be Wipro Infotech's distributor for the region. Wipro is a
well-known brand and has built strong equity amongst consumers. This
relationship will give us an opportunity to carry an end-to-end IT proposition
to the market, backed up by Wipro's experience, expertise and strong quality
processes. They are confident that this partnership will be mutually
profitable."
Through the Growth Partner Program, Wipro Infotech would identify
high-growth potential re-sellers and nurture and grow them. A dedicated
60-member organization across the Head Office and regions has been formulated
to drive this program. Its internal channel management team would provide
on-ground support to Growth Partners' sales teams for effective market
coverage. Structured training & certification programs have been
conceptualized for re-seller sales teams for effective delivery of its proposition.
The thrust on Growth Partners now carrying the entire suite of products,
services and solutions backed up by attractive incentive schemes as well as
training provided by Wipro, will offer greater headroom for growth.
As
per Website Details:
About
us:
FOUNDED in October 1994, Sogo Computers Pvt
Ltd, 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 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 and
willingness to serve them in all respects, using the right process there by
helping then to achieve the desired growth. The company has forged strong links
with all major IT Players in India and has vast restheirces of products,
technology and manpower at its disposal. The company commit to serve and
support its business partners and customers and ensure them complete and total
satisfaction.
Our Business Activities can be
summarized as :
Distribution & Marketing of IT products.
Selling of MNC Branded Computers.
Business partner for IBM, compaq, intel, Microsoft,
Linux, acer, Antivirus
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.
Sogo Computers Pvt. Ltd.
#19, 80 Feet Road, Koramangala s. t. bed,
Bangalore - 560 034 (India)
Tele : +91 80 25502016/17/18, dir : +91 80 25524996
Tele Fax : +91 80 25502019
E mail : sogo@hathatway.com
Email : contact@sogocomputers.net
|
Name of the company |
SOGO COMPUTERS PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement
of Mortgage/ Charge created on 27.07.2006. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs
10.000 Millions |
|
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 |
Agreement
of Mortgage/ Charge created on 27.07.2006 for Rs 10.000 Millions. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
NA |
|
5) Name and Address and description of the person entitled to the charge. |
The
Hong Kong and Shangai Banking Corporation Limited No 7,
M G Road, Bangalore – 560001, Karnataka, India |
|
6) Date and brief description of instrument modifying the charge |
27.07.2006 |
|
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. |
NA |
|
Name of the company |
SOGO COMPUTERS PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement
of Hypothecation of Credit Card Receivables created on 27.07.2006. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs
10.000 Millions |
|
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 |
Agreement
of Hypothecation of Credit Card Receivables created on 27.07.2006 for Rs
10.000 Millions. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1]
Interest at 11% p.a. on monthly rests 2]
Repayment in 33,898.31 per day for a tenor of 295 days. 3]
Assignment of Credit Card Receivable as a security |
|
5) Name and Address and description of the person entitled to the charge. |
The
Hong Kong and Shangai Banking Corporation Limited No 7,
M G Road, Bangalore – 560001, Karnataka, India |
|
6) Date and brief description of instrument modifying the charge |
27.07.2006 |
|
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. |
NA |
|
Name of the company |
SOGO
COMPUTERS |
|
Presented By |
MR.
JAYAMUNI RAO - DIRECTOR |
|
Date
and Description of the Instrument charge |
Hypothecation
Agreement of goods and Debts dated 20-05-2004 |
|
Amount secured by the charge/amount owing
on the securities of charge |
Rs.
5.000/- (Rupees Five Millions Only) |
|
Short particular of the property charged.
If the property acquired is subject to charge, date of the acquired of the
property should be given |
Stock
of computers, printers, peripherals, monitors, scanners, software, spears,
and accessorises, televisions, audio and video players and, washing machines
, refrigerator, microwave, and cooking ovens and other consumer durable
equipment. Book
debts, outstanding moneys, deposits, receivables , claims, and bills,
contracts, securities, investments. |
|
Gist of the terms and conditions and
extent and operation of the charge |
Properties
mentioned above to from security for cash credit limit of Rs. 5.000/- Interest
is chargeable at 13.5% p.a. with monthly rests. Margin
is fixed at 25% Advance
is repayable on demand. |
|
Name and Address and description of the
person entitled to the charge. |
Union
Bank of India, Richmond Town Branch,
Alexandra Street, Bangalore- 560025. |
|
Date and brief description of instrument
modifying the charge |
NIL |
|
Particulars of modification specifying the terms and conditions or the extant or operation of the charge in which modification is made and the details of the Modification. |
NIL |
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.44.24 |
|
UK
Pound |
1 |
Rs.86.71 |
|
Euro |
1 |
Rs.57.13 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
54 |
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 |