MIRA
INFORM REPORT
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Report Date : |
30.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ACER INDIA PRIVATE LIMITED |
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Registered Office : |
1st
Floor, George Thangaiah Complex (East), |
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Country : |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
09.09.1999 |
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Com. Reg. No.: |
U31909KA1999PTC025693 |
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CIN No.: [Company
Identification No.] |
08-25698 |
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IEC No.: |
0799008966 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA01844D |
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Legal Form : |
Private limited liability company. Wholly owned subsidiary of Acer Computer International, |
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Line of Business : |
Manufacturing and trading of computer system and peripherals. Also marketing and support services for all Acer products |
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 100000 |
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Status : |
Good |
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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. Profit margin is under pressure. Trade relations are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
1st
Floor, George Thangaiah Complex (East), |
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Tel. No.: |
91-80-25219520 / 25219521 / 25219523 |
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Fax No.: |
91-80-25219535 |
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E-Mail : |
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Website : |
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Area : |
Rented -- 5000 sq. fts. |
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Factory 1 : |
RS No. 132/4, Ramanathapuram Village, Villianur Commune, Pondicherry – 605502, Tamilnadu, India Tel. No. 91-413-2666994 |
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Area : |
16000 sq. fts- leased |
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Branches : |
Acer Tel : 91-80-25219520, 25219521, 25219523. Fax : 91-80-25219535. e-mail : ailintouch_blr@acer.co.in Acer Tel : 91-11-29219090, 29214949, 29215959. Fax : 91-11-29223730. e-mail : ailintouch_blr@acer.co.in Mumbai Acer India (Pvt) Ltd. Tel : 91-22-56976999, 56975217, 56975218, 56975219. Fax : 91-22-56975220. e-mail: ailintouch_blr@acer.co.in Chennai Acer India (Pvt) Ltd. Tel : 91-44-24990779 / 044 – 24990564. Fax : 91-44-24990898. e-mail : ailintouch_blr@acer.co.in Acer India (Pvt) Ltd. Tel : 91-40-50025252 / 50025353 / 30900273. Fax : 91-40-50025454 e-mail : ailintouch_blr@acer.co.in Kolkatta Acer India (Pvt) Ltd. Tel : 91-33-22171136. Fax : 91-33-22175639. e-mail : ailintouch_blr@acer.co.in Guwahati Acer Tel : 91-361-2344556 / 2345459 Fax : 91-361-2344559. e-mail : ailintouch_blr@acer.co.in Acer Tel: 91-0712-2535215 / 2547295 / 2560761. Fax : 91-33-2528923. e-mail : ailintouch_blr@acer.co.in Acer Tel : 91-0484-2360915 / 2360462 / 2360463 / 2360464 Fax : 0484 – 2354262. e-mail : ailintouch_blr@acer.co.in |
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Global Office : |
Ř Acer Inc. 21 F, 88, Tel. No. : 886-2-2696-1234 Fax No. : 886-2-2696-1777 Website : http://www.acer.com Ř
Ř
Ř
Ř Middle East & Africa Ř
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DIRECTORS
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Name : |
Mr. Narayana Raju S. |
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Designation : |
Company Secretary |
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Address : |
197/8, 9th Cross, 2nd Block, jay
Anagar, |
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Date of Birth/Age : |
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Date of Appointment : |
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Name : |
Mr. Mukund Walwekar |
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Designation : |
Managing Director |
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Address : |
372, 43rd Cross, 9th |
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Date of Birth/Age : |
31.10.1955 |
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Qualification : |
B.E., PGDM |
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Experience : |
25 years |
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Date of Appointment : |
04.12.2000 |
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Name : |
Mr. T. Y. Lay |
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Designation : |
Director |
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Address : |
104, |
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Date of Birth/Age : |
24.01.1953 |
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Qualification : |
E.E., MBA |
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Date of Appointment : |
01.05.2001 |
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Name : |
Mr. Steve Lin |
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Designation : |
Director |
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Address : |
A 7-1, Menara Iulah, Jallang Taman TVN, Abdul Razak –
68000, Ampung, |
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Date of Birth/Age : |
26.09.1954 |
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Date of Appointment : |
20.12.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Acer Computer International Limited, |
78803761 |
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Acer Computer (ME) Limited, P. O. 16951, |
3 |
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BUSINESS DETAILS
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Line of Business : |
Manufacture and trading of computer system and peripherals. Also marketing and support services for all acer products |
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Products : |
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Brand Names : |
“ACER” |
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Exports : |
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Products : |
-- |
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Countries : |
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Imports : |
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Products : |
-- |
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Countries : |
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Terms : |
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Selling : |
L/C or Credit [60-120 days] terms |
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Purchasing : |
L/C or Credit [30-60 days] terms |
PRODUCTION STATUS
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Particulars |
Actual
Production |
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Computers |
26619 |
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Servers |
2941 |
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Notebooks |
1139 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, end users and original equipment manufacturers Ř Infosys Ř Hindustan Lever Limited |
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No. of Employees : |
Total 200 persons – 100 persons in office and 100 persons in factory |
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Bankers : |
Ř H.S.B.C. Limited 7, Facility : Rs. 5.000 millions ass on 09.08.2002 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
BSR
and Company Chartered
Accountants |
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Address : |
20/2, Vittal |
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Tel. No.: |
91-80-2276000 |
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Fax No.: |
91-80-2273000 |
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Collaborators : |
Parent Company,
Acer Inc., |
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Parents Company : |
Ř 3Com Ř Adaptec Ř Citrix Systems, Inc. Ř Computer Associates Ř Intel Ř Microsoft Ř Novell Ř SCO Ř Tandberg Data |
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Holding Company : |
Ř Acer Computer International Limited 29 International Business Park, 01-01, Tel. No. : 65-5636563 Fax No. : 65-5636311 Website : http://www.acer.co.in Line of Business : Computers / hardware and software Ř
Acer computers Limited, Ř
Acer Communications and multimedia, Ř Acer Peripherals India Private Limited , Mumbai Ř
Acer Sales and Distributors, Ř
Acer Computer, Ř Sevex Singapore Private Limited Ř
Logistron Services private Limited, Ř
Acer Incorporated, Ř
Wistron Corporation, Ř Servex Limited, India Branch office Ř
Anextex Global Corporation, Ř
Acer Technology Inc. Ř
Acer Computer Company Limited, |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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127500000 |
Equity Shares |
Re. 1/ each |
Rs.127.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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31787204 |
Equity Shares |
Re. 1/ each |
Rs. 31.787 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
31.787 |
31.787 |
31.787 |
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2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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3] (Accumulated Losses) |
(8.697) |
(25.587) |
(13.372) |
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NETWORTH |
23.090 |
6.200 |
18.415 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
23.090 |
6.200 |
18.415 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.161 |
20.417 |
29.591 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
61.926 |
156.570 |
121.878 |
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Sundry Debtors |
91.206 |
164.017 |
283.563 |
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Cash & Bank Balances |
14.109 |
33.368 |
41.795 |
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Loans & Advances |
37.179 |
32.311 |
48.433 |
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Total
Current Assets |
495.669 |
204.420 |
386.266 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
178.005 |
364.442 |
411.089 |
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Provisions |
40.744 |
33.336 |
72.961 |
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Total
Current Liabilities |
484.050 |
218.749 |
397.778 |
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Net Current Assets |
11.619 |
[14.329] |
(11.512) |
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MISCELLANEOUS EXPENSES |
-- |
0.112 |
0.336 |
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TOTAL |
23.090 |
6.200 |
18.415 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
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Sales Turnover(including Other Income) |
1396.874 |
836.107 |
862.888 |
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Profit/(Loss) Before Tax |
17.485 |
[12.214] |
2.382 |
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Provision for Taxation |
0.879 |
-- |
0.104 |
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Profit/(Loss) After Tax |
16.606 |
[12.214] |
2.278 |
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Export Value |
16.869 |
12.827 |
38.690 |
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Imports Value |
807.098 |
442.296 |
715.170 |
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Total Expenditure |
1379.387 |
848.321 |
860.506 |
KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
31.03.2001 |
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PAT / Total Income |
(%) |
1.188
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1.460 |
0.263 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.251
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1.460 |
0.276 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.449
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5.432 |
0.572 |
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Return on Investment (ROI) (PBT/Networth) |
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0.757
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1.970 |
0.129 |
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Debt Equity Ratio (Total Liability/Networth) |
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20.963
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35.282 |
21.600 |
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Current Ratio (Current Asset/Current Liability) |
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1.024
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0.934 |
0.971 |
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LOCAL AGENCY FURTHER INFORMATION
Company Profile:
ACER India has sewn up a strategy for a major retail push through its
Volume Products Division and plans to establish about 100 outlets by this year,
up from 50 now addressing the emerging SOHO (small office, home office) and SMB
(small and medium business) market, particularly targeting the tier II cities.
The home,
Speaking to Business Line, the General Manager of Sales and
Marketing, Consumer Products Group, Acer India, Mr S. Rajendran, said that the
company seeks to tap the huge untapped potential in the
"The domestic market has just about opened up and volumes are
set to grow. Given the current potential, Acer expects to expand its market
share from about 3.5 per cent to about 8 to 10 per cent.
Summary:
During its four-year joint venture operation with Wipro, Acer has grown to
become the No. 2 MNC PC brand in
One of Acer's chief long-term objectives is to maintain direct presence in
high-growth markets. As such, Acer's NS operations in
As Acer's valued business partner, Wipro will continue to focus strongly on
Acer products. And with Wipro Infotech as Acer's distributor, renewed focus
will be given to both direct sales and channel sales. Wipro already has an
extensive support infrastructure in place in
York Chen comments, "This move is in line with Acer's customer-centric
philosophy as well as their long-term goal to be where the growth is. The
modification of their relationship with Wipro is about Acer's commitment to
putting customers first."
Acer
As
About The Acer Group
Established in 1976, Acer is the world's third-largest PC
manufacturer, fifth-largest mobile PC manufacturer, and seventh-largest PC
brand, offering a broad selection of industry-leading, high-end multi-user
servers, multimedia PCs, notebooks, computer peripherals, components, and
semiconductors. The Acer Group employs more than 27,000 people in 120
enterprises spanning 37 countries worldwide, supporting dealers and
distributors in over 100 countries. The Acer Group's revenue in 1997 was US$6.5
billion. For more information about the Acer Group, visit their website at http://www.acer.com.
Acer and the Acer logo are the registered trademarks of Acer Inc.
They are expecting a 40 percent growth in their revenues
this year at Rs 1,100 crore from Rs 869 crore recorded last year," said
Acer India Managing Director W S Mukund.
He further said that with the introduction of Intel's technology the
performance of the newly-launched notebooks would double. Even the battery life
is expected to increase drastically.
The personal computer company obtains maximum revenues from education and
banking and finance verticals, revealed WS Mukund.
Presently Acer has 250 retail outlets. The company is also planning to increase
the number of retail outlets to 300 by the end of this year, as said by Acer
India General Manager Sales and Marketing S RajendAran.
While in the desktop segment, Acer commands a market share of 5.2 percent, in
the Notebooks space, it has got 5.8 percent share, added
The newly launched Acer notebooks have been priced at Rs 59,999-69,999 and they
would be made available all across the country in the next two weeks.
computer hardware vendor acer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.66 |
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1 |
Rs.81.70 |
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Euro |
1 |
Rs.55.05 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
6 |
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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 |
3 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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46 |
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 |
|
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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