MIRA
INFORM REPORT
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Report Date : |
08.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SPARK
TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
308, Eros Apartment,
56, Nehru Place, New Delhi-110019, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
08.09.1994 |
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Com. Reg. No.: |
55-61366 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PLC061366 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS21290D |
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PAN No.: [Permanent
Account No.] |
AAACS4609L |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Deal In Computer Components and Carry out Repair and
Maintenance of IT 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 52500 |
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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 records. Directors are
reported as experienced 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
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Registered Office : |
308, Eros
Apartment, 56, Nehru Place, New Delhi-110019, Delhi, India |
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Tel. No.: |
91-11-26210024 |
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E-Mail : |
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Head Office : |
Spark Technologies Limited Phone: 011-41606560 (8 Lines), 011-26210024 Fax: 011-26282849 Contact Person: Surinder Pal Singh Palia Mobile: 9810069708 SALES: sales@sparkindia.com SERVICE: service@sparkindia.com |
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Branches : |
J&K Branch Office: Contact Person: Amit Padha
Uttar Pradesh (Noida) Branch
Office:
Haryana (Gurgaon) Branch
Office: Contact Person: S. Nautiyal
Rajasthan (Jaipur) Branch
Office: Contact Person: Uttam Kumar
Uttranchal (Dehradun) Branch
Office: Contact Person: Sunny Dhiman
Himachal Pradesh Branch
Office: Contact Person:
Anurag Niranjan Mobile:
91-9312886380 Email: anurag@sparkindia.com |
DIRECTORS
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Name : |
Mr. Surinder Pal
Singh |
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Designation : |
Director |
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Address : |
247, Ankur
Apartment, I.I.P. Extension, Delhi-110092 |
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Date of Birth/Age : |
24.10.1968 |
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Date of Appointment : |
18.01.1999 |
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Name : |
Mr. Sewak Ram Navtiyalran
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Designation : |
Director |
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Address : |
120, South Park
Apartment, Kalkaji, New Delhi-110019 |
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Date of Birth/Age : |
04.03.1967 |
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Date of Appointment : |
08.09.1994 |
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Name : |
Mr. Rajesh
Budhwar |
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Designation : |
Director |
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Address : |
209/111, Kirti
Apartment, Mayur Vihar, Delhi-110092 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Surinder Pal
Singh |
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124933 |
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Mr. Sewak Ram
Nautiyal |
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132333 |
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Mr. Rajesh
Budhwar |
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96000 |
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Mr. Raminderjit |
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45283 |
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Mr. Banarsi Das
Budhwar |
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33783 |
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Mrs. Preeti
Nautiyal |
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68166 |
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Mr. Inderjit
Singh |
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12800 |
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Mr. Silmar Kaur |
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14000 |
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Mr. Vimal Prasad
Nautiyal |
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15000 |
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Mr. Gurvinder Singh |
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52500 |
BUSINESS DETAILS
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Line of Business : |
Deal In Computer Components and Carry out Repair and
Maintenance of IT Products |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Singhalmatta
& Company Chartered
Accountants |
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Address : |
B-21, Lajpat
Nagar-I, New Delhi-110024, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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848800 |
Equity Shares |
Rs. 10/- each |
Rs. 8.489 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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848800 |
Equity Shares |
Rs. 10/- each |
Rs. 8.489 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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8.488 |
7.226 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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4.777 |
3.137 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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13.265 |
10.363 |
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LOAN FUNDS |
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1] Secured Loans |
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14.195 |
12.509 |
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2] Unsecured Loans |
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0.952 |
0.757 |
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TOTAL BORROWING |
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15.147 |
13.266 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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28.412 |
23.629 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.099 |
2.557 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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29.440 |
11.555 |
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Sundry Debtors |
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51.112 |
31.733 |
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Cash & Bank Balances |
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0.459 |
0.271 |
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Other Current Assets |
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1.415 |
1.063 |
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Loans & Advances |
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3.476 |
2.385 |
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Total
Current Assets |
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85.902 |
47.007 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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58.429 |
25.329 |
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Provisions |
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1.160 |
0.606 |
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Total
Current Liabilities |
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59.589 |
25.935 |
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Net Current Assets |
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26.313 |
21.072 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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28.412 |
23.629 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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360.765 |
280.930 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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360.765 |
280.930 |
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Profit/(Loss) Before Tax |
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2.752 |
1.750 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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2.752 |
1.750 |
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Expenditures : |
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Interest |
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1.751 |
1.727 |
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Depreciation & Amortization |
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0.476 |
0.498 |
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Other Expenditure |
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355.785 |
276.955 |
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Total Expenditure |
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358.012 |
279.180 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.76 |
0.62 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.76 |
0.62 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.12 |
3.53 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.63 |
3.78 |
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Current Ratio (Current Asset/Current Liability) |
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1.44 |
1.81 |
LOCAL AGENCY
FURTHER INFORMATION
Background
Three friends freshly graduated in Engineering, joined hands to start up their own business – promising themselves a future in Information Technology.
Subject was incorporated with an objective to deal in Computer Components and carry out Repair & Maintenance of IT products, with a clear objective of providing simplified infrastructure solutions.
Over the years subject has been addressing the growing demand for the cost-effective technology infrastructure solutions across geographically dispersed locations. Today, the company has leveraged its technology partnerships on a global scale to deliver cost-effective solutions for the emerging network centric world.
With the basic objective of becoming leading converged business solution provider for enterprises the company has invested in highly efficient and certified taskforce, attaining the maturity in the execution of projects in the committed time frame and with 100% customer satisfaction.
In order to keep abreast with latest happenings in technologies, a regular training is imparted to in-house work force. Keeping this in mind, to strive ahead on the forefront of technology, by regularly updating knowledge.
The philosophy of the continuous technology upgrades has paved their way through various milestones year after year. Therefore, the company name has been re-christened to Spark Technologies Private Limited.
Initially dealing in products like PCs, Networking, office automation like computer, printers, LAN/WAN, Today, subject offers cost effective infrastructure solutions for networks dispersed geographically, cabling/wireless solutions. Providing consultancy, monitoring, optimizing and managing IT infrastructure across the country. As well as providing assessment & solutions for Security, Convergence of Data and Voice and Quality of Service, Server & Storage through our branches located at Gurgaon, Noida, Jammu, Dehradun, Shimla and Jaipur.
Solutions
Enterprise
IT Solutions
IT has become a
high - priority issue today as the health and viability of most businesses is
heavily dependent on
Infrastructure
Solutions
To offer best and
latest technology solutions to its customers with efficient technologically
reliable computing devices.
Network Security
Securing the networks
from security risks for customer is their priority as well as concern.
IT Products
Distribution
They insist on high
product quality and thus partner with the World leaders in the industry.
Products
Spark offers one shop
solution for all IT related products:
Computers
Desktop PCs
Notebooks
Servers
Networking Products
Routers
Switches
Firewall
Intrusion Detection
System
Wireless
Long Reach Ethernet
Leased Line Modems
Interface
Converters
Multiplexers
ISDN Products
DSL Products
Fiber Optics
Cat5/Cat6 Copper
Cables
Components for
Structure Cabling Solutions
Storage Products
Hard Drives
Optical Drives
DVD Writers
Power Conditioning Products
Off-Line
On-Line UPS
Peripheral Products
TFT Panels
Plasma Screens
Multi-Function
Printers
DVD writers
Colour Laser
Printers
Laser Printers
Multifunction
Printers
Dot matrix Printers
Their Alliances
Offer the best
technology for - data, voice & video.
Ø
Cisco Systems
Ø
Tyco Electronics
Ø
Linksys Inc.
Ø
RAD Data Communications
Ø
MRO-TEK
Ø
Samsung Electronics
Ø
HCL Infosystems Limited
Clients
Ø
They have
provided IT solutions to the following
Ø
Government
& Public Sector
Ø
Corporate
Armed Forces
Ø
Educational
Institutions
Ø
Multinational
Corporate
Ø
Telecom Sector
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.44.50 |
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UK Pound |
1 |
Rs.85.86 |
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Euro |
1 |
Rs.58.39 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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
|
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 |
|
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 |
|
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 |
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