MIRA
INFORM REPORT
|
Report Date : |
13.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ALCO INFOTECH
PRIVATE LIMITED |
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Registered Office : |
5 Princep Street,
Ganesh Chandra Avenue, Kolkata – 700013, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
26.11.1997 |
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Com. Reg. No.: |
21-85975 |
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CIN No.: [Company
Identification No.] |
U72200WB1997PTC085975 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALA04495B |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
To assemble, import,
export, buy sell or otherwise deal in all types of computers or any other
electronic data processor/s of all makes, sizes and configurations being
mainframe, mini computers or micro-computers and to assemble, import, export,
buy sell or otherwise deal in all types of hardware and other parts and
accessories used or related to the computer industry being printers,
monitors, display card, drives, hard and floppy diskette, key board, mother
board, integrated circuits, printed circuit board, digitizers, modern mouse,
plotter, UPS, CVT, virus card, multi media equipment / kits and also all
other electrical, electronic and telecom devices and parts thereof or any
other items consumed or used in the computer industry being stationery,
cabinets, sockets, antiglare screens and all such related items and to
develop, trade, import, export, buy, sell and market any type of software
programmes used by the computer industry |
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 |
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Maximum Credit Limit : |
USD 90000 |
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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 and reputed 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
|
Registered Office : |
5 Princep Street,
Ganesh Chandra Avenue, Kolkata – 700013, West Bengal, India |
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Tel. No.: |
91-33-22345578/22345579/22345580 |
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Fax No.: |
91-33-22345576 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Ramesh Kumar
Kedia |
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Designation : |
Director |
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Address : |
113/1B,
Chittaranjan Avenue, Kolkata, West Bengal, India |
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Date of Birth/Age : |
13.05.1953 |
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Date of Appointment : |
26.11.1997 |
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Name : |
Ms. Usha Devi
Kedia |
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Designation : |
Director |
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Address : |
113/1B,
Chittaranjan Avenue, Kolkata, West Bengal, India |
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Date of Birth/Age : |
13.10.1960 |
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Date of Appointment : |
26.11.1997 |
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Name : |
Mr. Pankaj Kedia |
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Designation : |
Director |
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Address : |
113/1B,
Chittaranjan Avenue, Kolkata, West Bengal, India |
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Date of Birth/Age : |
13.02.1977 |
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Date of Appointment : |
26.11.1997 |
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Name : |
Ms. Sumi Kedia |
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Designation : |
Director |
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Address : |
113/1B,
Chittaranjan Avenue, Kolkata, West Bengal, India |
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Date of Birth / Age : |
04.07.1978 |
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Date of Appointment : |
01.07.2003 |
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E-mail : |
MAJOR SHAREHOLDERS
|
Names of
Shareholders |
|
No. of Shares |
|
Mr. Ramesh Kumar
Kedia |
|
226710 |
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Ms. Usha Devi
Kedia |
|
220510 |
|
Mr. Pankaj Kedia |
|
639470 |
|
Ramesh Kumar
Kedia [HUF] |
|
49310 |
|
Ms. Sumi Kedia |
|
40000 |
BUSINESS DETAILS
|
Line of Business : |
To assemble, import,
export, buy sell or otherwise deal in all types of computers or any other
electronic data processor/s of all makes, sizes and configurations being
mainframe, mini computers or micro-computers and to assemble, import, export,
buy sell or otherwise deal in all types of hardware and other parts and
accessories used or related to the computer industry being printers,
monitors, display card, drives, hard and floppy diskette, key board, mother
board, integrated circuits, printed circuit board, digitizers, modern mouse,
plotter, UPS, CVT, virus card, multi media equipment / kits and also all
other electrical, electronic and telecom devices and parts thereof or any
other items consumed or used in the computer industry being stationery,
cabinets, sockets, antiglare screens and all such related items and to
develop, trade, import, export, buy, sell and market any type of software
programmes used by the computer industry |
GENERAL
INFORMATION
|
No. of Employees
: |
About 150 |
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Bankers : |
Union Bank of
India Ezra Street
Branch, 55/58, Ezra Street, Kolkata – 700001, West Bengal, India The Federal Bank Limited Burra Bazar Brnach, 33A, Tarachand Dutta Street, Kolkata –
700073, West Bengal, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
K. S. Bothra
& Company Chartered
Accountants, 9/12, Lall Bazar
Street, Mercantile Building, Block ‘E’, 1st Floor, Kolkata – 700001, West
Bengal, India PAN No. :
AADFK7294B |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
20.000 |
11.760 |
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2] Share Application Money |
|
0.000 |
1.265 |
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3] Reserves & Surplus |
|
3.014 |
2.205 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
23.014 |
15.230 |
|
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LOAN FUNDS |
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1] Secured Loans |
|
9.115 |
10.032 |
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2] Unsecured Loans |
|
5.525 |
0.000 |
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TOTAL BORROWING |
|
14.640 |
10.032 |
|
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
37.654 |
25.262 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.259 |
1.313 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
43.947 |
13.235 |
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Sundry Debtors |
|
69.600 |
44.774 |
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Cash & Bank Balances |
|
4.608 |
3.052 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
10.808 |
3.779 |
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Total Current Assets |
|
128.963 |
64.840 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
90.987 |
39.999 |
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Provisions |
|
1.659 |
1.007 |
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Total Current Liabilities |
|
92.646 |
41.006 |
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Net Current Assets |
|
36.317 |
23.834 |
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MISCELLANEOUS EXPENSES |
|
0.078 |
0.115 |
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TOTAL |
|
37.654 |
25.262 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
|
597.911 |
415.674 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
597.911 |
415.674 |
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Profit/(Loss) Before Tax |
|
1.460 |
1.232 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
1.460 |
1.232 |
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Expenditures : |
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Interest |
|
1.304 |
1.180 |
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Depreciation & Amortization |
|
0.376 |
0.527 |
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Other Expenditure |
|
57.965 |
412.735 |
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Total Expenditure |
|
59.645 |
414.442 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
0.24 |
0.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.24 |
0.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.12 |
1.86 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.06 |
0.08 |
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Debt Equity Ratio (Total
Liability/Networth) |
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4.66 |
3.35 |
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Current Ratio (Current
Asset/Current Liability) |
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|
1.39 |
1.58 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
|
Corporation identity number or foreign company registrations number
of the company |
U72200WB1997PTC085975 |
|
Name of the company |
ALCO INFOTECH PRIVATE LIMITED |
|
Address |
5 Princep Street, Ganesh Chandra Avenue, Kolkata – 700013, West Bengal |
|
This Form is for |
Creation of charge |
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Type of Charges |
Book debts, Movable Property, Floating
Charge, Others b. If others, specify deposit & other securities held as
margin by bank |
|
Particular of the charge holder
|
Union Bank of India Ezra Street
Branch, 55/58, Ezra Street, Kolkata – 700001, West Bengal, India E-mail : cbsezrastreet@calgmo.unionbank.com |
|
Nature or description of the instrument creating charge |
Composite hypothecation deed [SD – 20] |
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Date of the instrument creating charge |
20.12.2006 |
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Amount Secure by the charge |
Rs. 27.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Cash credit hypothecation limit Rs. 22.500
millions, interest @ BPLR + 1.50% p.a. at monthly rests Letter of guarantee limit Rs. 5.000
milions, Commission : Usual Further Rate of interest & commission
are subject to banks credit policy fixed from time to time, RBI directives
& FEDAI rules. |
|
Particulars of the Property charged
|
Hypothecation by way of first charge on [a]
all stocks of computers, other peripherals hardware, software of various
brands etc stored at Co’s premises at 5, Pricep Street, Kolkata – 72 or
elsewhere the same may be kept, stored or lying or are in course of
transit. B. All present & future
book debts, outstanding, monies receivables, claims, bills [inland /
foreign], contracts, engagements, rights & assets c] Deposits & other
securities held as margin and a floating charge on Co’s whole of undertaking |
|
Name of the company |
ALCO INFOTECH
PRIVATE LIMITED |
|
Presented By |
Mr. Pankaj
Kedia, Director |
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1) Date and description of instrument creating the change |
Agreement for cash credit [Hypothecation of goods] Agreement for Hypothecation of book debts |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 3.500 millions 1. Modification of charge for enhancement of cash credit facility from
Rs. 0.200 million to Rs. 0.500 millions has been registered on 28.08.2000 2. Modification of charge for enhancement of cash credit facility from
Rs. 0.500 million to Rs. 2.200 millions has been registered on 29.03.2001 3. Modification of charge for enhancement of cash credit facility from
Rs. 2.200 millions to Rs. 3.500 millions has been registered on 11.07.2002 4. Modification of charge for enhancement of Cash Credit facility from
Rs. 3.500 millions to Rs. 5.000 millions was created on 12.06.2003 5. Modification of charge for enhancement of cash credit facility from
Rs. 5.000 millions to Rs. 8.000 millions was created on 15.10.2004 and was
registered on 5.11.2004 |
|
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 whole of the borrower[s] stock of materials which now or
hereafter, from time to time during the security shall be brought into,
stored or be in or about the borrower[s] showroom or premises at 5, Princep
Street, Kolkata – 700072 and 8 Ganesh Chandra Avenue, Kokata – 700013 or
wherever else the same may be [including may such goods in course of transit
delivery] shall be hypothecated to the bank and its assigns by way of first
charge as security for the payment by the borrower to the bank on demand of
all moneys at any time payable by the borrower to the bank on demand of all
indebtness or liability of the borrower[s[ to the bank 2. the borrower[s] hereby hypothecate and charge to the bank, by way
of first charge all the book debts, outstanding, moneys, receivables, claims
and bills which are now due and owing or which may at any time hereinafter
during continuance of this owing to the borrowers in the course of its
business by any person, firms, company or by the government or any local,
public body or authority. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Cash credit
facility has been granted for one year.
The borrower shall pay interest @ 14% p.a. iwht monthly rest. Credit facility has been granted for 12
months |
|
5) Name and Address and description of the person entitled to the
charge. |
The Federal Bank
Limited Burra Bazar
Brnach, 33A, Tarachand Dutta Street, Kolkata – 700073, West Bengal, India |
|
6) Date and brief description
of instrument modifying the charge |
Agreement of cash credit / overdraft demand loan Agreement for hypothecation of entire fixed assets as additional
security Both dated 15.12.2005 |
|
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. |
By the above agreements the bank has granted enhancement of cash
credit facility from Rs. 8.000 millions to Rs. 9.000 millions. Rate of
interest has been reduced to 12.5% per annum later on and is prevailing at
present, payable at monthly rests. The credit facility has been granted for one year. |
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.44.22 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.58.03 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
POINTS |
|
HISTORY |
1~10 |
5 |
|
|
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 |
5 |
|
|
--LEVERAGE |
1~10 |
5 |
|
|
--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 |
|
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 |
|
|
>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 |
|