MIRA
INFORM REPORT
|
Report Date : |
02.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
NEW TECH COMPUTER SERVICES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
7, Poonam chambers, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
29.10.1984 |
|
|
|
|
Com. Reg. No.: |
11-34412 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1984PTC034412 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN11246E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACN9218L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is. |
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 27000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behavitheir : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a theyll – established and reputed company satisfactory
track records. Directors are reported as experience and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
7, Poonam chambers, |
|
Tel. No.: |
91-22-4943031 |
|
Fax No.: |
91-22-4932101 |
|
E-Mail : |
ucshukla@rediffmail.com |
|
|
|
|
Mumbai Office : |
Solaris ,6th Floor, Opp. L&T Gate No.6,
Powai, Mumbai - 400072 |
|
Tel. No.: |
91-5693 81 41 / 5693 81 48 / 2857 55 05 |
|
Fax No.: |
91-2857
5502 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Mahesh .S. Arora |
|
Designation : |
Director |
|
Address : |
704 – |
|
Date of Birth/Age : |
12.07.55 |
|
Date of Appointment : |
05.10.88 |
|
|
|
|
Name : |
Mr. Mohandas .D. Reshwani |
|
Designation : |
Director |
|
Address : |
13 – |
|
Date of Birth/Age : |
31.12.57 |
|
Date of Appointment : |
01.03.92 |
|
|
|
|
Name : |
Mr. Kumar Ashish Govil |
|
Designation : |
Director |
|
Address : |
B – 34/A, 03, Gokoldham Goregaon (East), Mumbai – 400063, |
|
Date of Appointment : |
23.10.84 |
|
|
|
|
OTHER PERSONNEL |
|
|
Name : |
Mr. Shailesh
Kacharia |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Mahesh S. Arora |
|
6829 |
|
Mr. Mohandas D. Keshwani |
|
3159 |
|
Mr. Ashishkumar Govil |
|
10 |
|
Ms. Monica Mirchandani |
|
1 |
|
Ms. Gitika Mirchandani |
|
1 |
|
Category |
|
Percentage of
Holding |
|
Directors or relative of directors |
|
100.00 |
|
|
|
|
|
|
|
|
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in providing computer software and hardware
services. |
|
|
|
|
Products : |
Laptop. P.C. Server |
GENERAL INFORMATION
|
Customers : |
· Ac Neilson
Private Limited. · American Express
Bank Limited. · Astute Consulting
Private Limited. · Bank Of · Bank Of · Cable
Corporation Of India Limited. · Cabletron
Systems · Center For
Monitoring Indian Economy · Cgi · Cifco Finance · Citi Corp. - · Clariant ( · Credit Suisse · Cybernet · Datamatics
Financial Software Services Limited. · Mckinsey &
Company Inc. · Morgan Stanley · Netcore · Nexgenix
Information Solutions · Novartis India
Limited. · Orient Ship
Agency Private. Limited. · Atos Origin · P & O
Nedlloyd private Limited. · Ready Test Go
(I) Private. Limited. · |
|
|
|
|
Bankers : |
State Bank of Shivsagar Estate, Worli, Mumbai, |
|
|
|
|
Facilities : |
Mortgage : State Bank of 31.01.1994 : Hypothecation of goods and assets : Rs. 3.500 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Kinjal H Shah and Company Chartered Accoutants |
|
Address : |
C/6 Commerce Centre, Tardeo, Mumbai – 400034, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs. 100/- each |
Rs.2.000 million |
|
5000 |
Preference Shares |
Rs. 100/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 100*-
each |
Rs.1.000
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
STHEIRCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.184 |
5.128 |
4.598 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.184 |
6.128 |
5.598 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.927 |
10.511 |
8.969 |
|
|
2] Unsecured Loans |
2.411 |
2.081 |
1.932 |
|
|
TOTAL BORROWING |
17.338 |
12.592 |
10.901 |
|
|
DEFERRED TAX LIABILITIES |
0.410 |
0.461 |
0.767 |
|
|
|
|
|
|
|
|
TOTAL |
23.932 |
19.181 |
17.266 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.621 |
15.677 |
17.009 |
|
|
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 |
3.511
|
4.201 |
6.127 |
|
|
Sundry Debtors |
26.591
|
14.759 |
14.834 |
|
|
Cash & Bank Balances |
0.373
|
1.092 |
1.463 |
|
|
Other Current Assets |
0.021
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.469
|
2.615 |
3.871 |
|
Total
Current Assets |
31.965
|
22.667 |
26.295 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
27.342
|
19.162 |
24.918 |
|
|
Provisions |
0.312
|
0.001 |
1.120 |
|
Total
Current Liabilities |
27.654
|
19.163 |
26.038 |
|
|
Net Current Assets |
4.311
|
3.505 |
0.258 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23.932 |
19.181 |
17.266 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Total Income |
|
130.575 |
116.230 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.917 |
1.041 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
0.917 |
1.041 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
|
0.514 |
0.690 |
|
|
Depreciation & Amortization |
|
3.415 |
3.775 |
|
|
Other Expenditure |
|
125.729 |
110.724 |
|
Total Expenditure |
|
129.658 |
115.189 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
NA
|
0.70 |
0.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.70 |
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.39 |
2.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.15 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.27
|
3.12 |
4.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.18 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
Subject is a leading organization formed in September 1984, with
a group of highly experienced personnel proficient in maintenance of
Mainframes, Mini and Micro Computers. They provide maintenance services to
multinational companies, corporate sector, govt. sector, public sector and
private sector in
Their activities revolve around the following fields :
v Procurement hostaging and installation of systems such as IBM System 3X, 43XX, S/400, Sun Sparc Stations, RS/6000, AST Server, IBM Server, HP Server, COMPAQ Server etc. and other Computer Peripherals.
v Consultancy in Hardware Networking and Communication selection.
v Installation and Maintenance of Multiplexers, Terminal Servers, Routers and Bridges.
v Connecting dedicated link lines to various host sites.
v Providing a complete and comprehensive solution for LAN / WAN and voice over data.
v Committed maintenance and support to wide variety of Computer Systems and Peripherals.
v
Company has been the first company in
THE STRENGTH
"Their potential lies in the track record of its people rather than mere
company track record."
THEIR PEOPLE: - Computers do not run businesses.
People do. Technology cannot produce quality products without the right kind of
people to implement it. Company believes that success of its
organization lies in the ability, agility and adaptability of its engineers to
customer needs. Company is headed and backed by a team of theyll qualified
personnel stationed at Mumbai,
MAINTENANCE SUPPORT: - Mission Critical Applications such as Banking,
Airline Ticketing or any On-Line Transaction needs not only a stable hardware,
but also needs an efficient and prompt support for a total solution. Company is
one of the few companies, which is equipped to provide total solution to
information technology industry. Company is renowned for its service support
available round the clock not only for hardware but also for system support and
debugging. Company has been providing maintenance support for the largest of
IBM mainframes to the fastest of work stations such as Compaq Servers, AST
Servers, Micron Servers, IBM Servers, DELL, Sun Microsystems, HP Servers
all types of notebooks and PCs. They also provide a round the clock resident
engineer if the situation demands. Company has three certified COMPAQ
Accredited Service Engineers
Quality Assurance is
continuous process at Company Computers
They have a separate cell for quality assurance for integrated as well as manufactured systems. They ensure that they purchase the best quality of material, of renowned brand names. Each component is tested before going into the assembly line, thus they prevent problems rather than discovering them afterwards. Quality is confined not only to the product but also to the service. The equipment carries a warranty of one year. They guarantee uptime of systems above 99%. They have supplied a massive configuration to Datamatics Financial Services Limited. with 15 Gigabyte of disk and multiple Pentium Servers attached on one Ethernet backbone. Massive processing for UTI Mastergain and Masterplus (56 lakhs applications) was done and output was given in a record time.
BUSINESS AND ORGANISATIONAL VALUES
Company Believe's In :
v Delivering Quality.
v Converting Customers Into Relationships.
v Regular Review For Improvement.
v Fairness.
v Openness.
v Respect For Individuals
v Team Work
v Support & Trust
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces
including but not limited to: The Ctheirts,
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 theyre seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Ctheirt 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 :
Their
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.
Their Governance Assessment focuses principally on the interactions
bettheyen 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.40.75 |
|
|
1 |
Rs.81.63 |
|
Euro |
1 |
Rs.54.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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 theyighted scores obtained from each of the major sections of this
report. The assessed factors and their relative theyights (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
unfavtheirable 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 |
Unfavtheirable & favtheirable factors carry similar theyight 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, they have no basis upon which to
recommend credit dealings |
No Rating |
|