MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEOTERIC INFOMATIQUE PRIVATE LIMITED |
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Registered Office : |
225, Chintamani
Plaza, 2nd Floor, Andheri Kurla Road, Chakala, Andheri [East],
Mumbai – 400099, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.03.1997 |
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Com. Reg. No.: |
106787 |
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CIN No.: [Company
Identification No.] |
U30007MH1997PLC106787 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN05580B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and Distributors of Computer Hardware and
Peripherals. |
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 450000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
The company undertakes imports and trading of computer peripherals, scanners, casting, monitors, etc. Directors are reported as experienced, respectable and having satisfactory means of their own. General financial position is satisfactory. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. Mr. Manish Salvi, assured to update financials with 2007 details. |
LOCATIONS
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Registered Office / Corporate Office : |
225, Chintamani
Plaza, 2nd Floor, Andheri Kurla Road, Chakala, Andheri [East],
Mumbai – 400099, Maharashtra, India |
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Tel. No.: |
91-22-39828600 |
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Fax No.: |
91-22-39828694 |
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E-Mail : |
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Website : |
http://www.neoteric-info.com |
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Branches : |
Located at : Ahmedabad,
Bangalore, Bhubaneswar, Chandigarh, Chennai, Cochin, Coimbatore, Dehradun, Delhi,
Gaziabad, Goa, Guwhati, Hyderabad, Indore, Jaipur, Jammu, Kolkata, Kanpur,
Lucknow, Ludhiana, Mumbai, Madurai, Nagpur, Patna, Pune, Raipur, Ranchi,
Surat, Trivendrum and Vizag |
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Head Office : |
Unit No. 20 - B, 2nd Floor, Shreeram Industrial Estate, 13
GD Ambedkar Road, Wadala, Mumbai – 400 031, Maharashtra, India |
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Tel. No.: |
91-22-24172600 |
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Fax No.: |
91-22-24185294 |
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E-Mail : |
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Websites: |
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Administrative Office: |
A -23 Shriram Industrial Estate, 13 GD Ambedkar Road, Wadala, Mumbai –
400 031, Maharashtra, India |
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E-Mail: |
DIRECTORS
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Name : |
Mr. Harshad Shah |
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Designation : |
Chairman |
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Name : |
Mr. Paras Shah |
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Designation : |
Managing Director
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Name : |
Mr. S. P. Rajguru |
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Designation : |
Executive
Director |
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Name : |
Mr. R. Srinivasan |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. KaushaL D
Khandor |
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Designation : |
Vice president
Sale Corp |
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Name : |
Mr. Sanjay Zadoo |
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Designation : |
Vice president
Sale |
BUSINESS DETAILS
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Line of Business : |
Importers and Distributors of Computer Hardware and
Peripherals. |
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Products : |
· Desktop - Apple · Storage Group (Drives and Media) - Iomega, Yamaha and Kodak · Digital Cameras - Kodak, Umax and Mercury · Input Devices Group - Mercury, Acer, Asus, Matrox, Adaptec, Samsung and Yamaha · PC Components - Compex and Mercury · Networking Printers – Samsung · Keyboard – Logitech and Mercury · Mice – Logitech and Mercury · Scanners – Umax · Digital Cameras – Kodak, Logitech, Mercury and Umax · Removable Storage – Asus, Iomega and Samsung · HDD – Iomega (Portable) and Samsung · NAS – Iomega · Mass Storage Controller – Adaptec · Laser Printer – Samsung and Xante · Multi Function Devices – Samsung · Networking Products – Compex and Mercury · Graphic Cards – Matrox and Mercury · Speakers – Labtec and Mercury · MP3/VCD Players – Mercury |
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Brand Names : |
· IP networking products · Apple · Asus · Avocent · Benq · Brother · Corel · Hitachi · HP · Lomega · Lacie · Lenovo · Logitech · Matrox · Moser Baer · Samsung · Toshiba · UMAX · Wacom · Wipro |
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Agencies Held : |
· Apple Computer SA Pte Limited · Adaptec · Mercury · Sony · Umax · Philips · Iomesa · Kobian · Matrox · Yamaha · Linkworld · Kodak · Compex |
GENERAL
INFORMATION
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Suppliers : |
Apple Computer
South Asia Pte Limited No. 7 Ang Mo Kio Street 64, Singapore 569086 Tel. No. 0065 4815511, 0065 4807523 Fax No. 0065 4840742, 0065 4815636 E-Mail ong.ca@asia.apple.com Contact Ms. Veronica Teo Kah / Kenny Ong Iomega Pacific Pte
Limited / Iomega International SA 47 Scotts Road, # 10-01 Goldbell Towers, Singapore 228233 Tel. No. 0065 3796000, 0065 3796107 Fax No. 0065 7321155, 0065 3796317 E-Mail lim@iomega.com Contact Ms. Michelle Lim Philips India
Limited Band Box House, 254-D, Dr. Annie Besant Road, Worli, Mumbai – 400 025, India Tel. No. 91-22-24930311, 24930590 Fax No. 91-22-24915375 E-Mail c.d.khatu@philips.com Contact C. D. Khatu Kobian Singapore
Pte Limited 9 Temasek Boulevard, #04-02 Suntec Tower 2, Singapore 038985 Tel. No. 0065 3383368, 0065 8466320-84 Fax No. 0065 3381588, 0065 3330238, 0065 7410040 E-Mail rajesh@kobian.com Contact Ms. Sushmita / Mr. Rajesh Bothra Kobian ECS India
Private Limited Survey No. 333/5, Prithviraj Chauhan Marg, Village-Athal, Selvasa – 396 235, Union Teritorry Tel. No. 91-260-2650300, 2650400 Fax No. 91-260-2650171 Contact Ms. Nirmala Saraf Lanbit India
Private Limited Timm Arcade, CST 778/B, Makwana Road, Marol, Andheri (East), Mumbai – 400 059, India Tel. No. 91-22-8515955 Fax No. 91-22-8518363 E-Mail lanbit.bom@sm1.sprintrpg.ems.vsnl.net.in Contact S. J. Shah Compex Systems Pte
Limited 135 Joo Seng Road, #08-01, PM Industrial Building, Singapore 368363 Tel. No. 0065 2862086 Fax No. 0065 2809947 Contact Mr. Sim Jek Hiong Umax Data Systems
Inc 8F, 68, Sector 3, Nanking Road, Taipei, Taiwan, R.O.C. Tel. No. 886-2-25170055 Fax No. 886-2-25170062 Contact Mr. Bennett Wu Matrox Eurepoe
Limited C/o. MSAS Distribution Centre, Kwai Chung, Hong Kong Tel. No. 353-21-325600 Fax No. 353-21-325601 Contact Christina Wong BenQ India Private
Limited 302, Omega Main Street, Hiranandani Gardens, Powai, Mumbai – 400 076 Tel. No. 91-22-25705230-32 Fax No. 91-22-25705235 Contact Mr. Rajes Iyer Yamaha Electronics
Asia Pte Limited 138, Cecil Street, #05-02/03, Cecil Court, Singapore 069538 Tel. No. 0065 2233992 Fax No. 0065 2239810 Adaptec
Manufacturing (Singapore) Pte Limited No. 2, Chai Chee Drive, Singapore 469044 Tel. No. 0065 2457300 Fax No. 0065 2457604 Contact Ms. Janet Bong Kodak India Limited 2nd Floor, 159/A, Vinay Bhavya Complex, CST Road, Kalina, Mumbai – 400 098 Tel. No. 91-22-26528821, 26528331 Fax No. 91-22-26526301 Contact Ms. Manisha Sood Samsung Electronics India Information & Telecommunication Limited 47, Ring Road, Lajpat Nagar III, New Delhi – 110 024 Tel. No. 91-11-26322517 Fax No. 91-11-28312935 Contact Mr. R. S. Sahu |
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Customers : |
Computers Limited, Mumbai |
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No. of Employees : |
300 |
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Bankers : |
· Union Bank of India 412, Dr. Dadasaheb Bhadkamkar Marg, Opera House Branch, YMCA Building, Opera House, Mumbai – 400 004, Maharashtra · Citi Bank N. A., Mumbai, Maharashtra, India · HDFC Bank Limited, Mumbai, Maharashtra, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
Chaturvedi Sohan
& Company Chartered
Accountants, 320, Tulsiani
Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Associates : |
Neoteric Pte
Limited, Singapore |
CAPITAL STRUCTURE
Authorised
Capital :
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No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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30.000 |
30.000 |
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2] Share Application Money |
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20.000 |
0.000 |
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3] Reserves & Surplus |
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68.114 |
53.112 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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118.114 |
83.112 |
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LOAN FUNDS |
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1] Secured Loans |
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184.350 |
186.608 |
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2] Unsecured Loans |
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60.653 |
61.126 |
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TOTAL BORROWING |
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245.003 |
247.734 |
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DEFERRED TAX LIABILITIES |
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7.421 |
0.000 |
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TOTAL |
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370.538 |
330.846 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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35.180 |
19.853 |
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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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3.998 |
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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392.082 |
381.870 |
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Sundry Debtors |
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397.351 |
203.931 |
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Cash & Bank Balances |
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45.200 |
32.956 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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35.034 |
23.112 |
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Total
Current Assets |
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869.667 |
641.869 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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531.660 |
330.876 |
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Provisions |
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6.647 |
0.000 |
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Total
Current Liabilities |
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538.307 |
330.876 |
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Net Current Assets |
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331.360 |
310.993 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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370.538 |
330.846 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 (Unaudited) |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
6040.000 |
4885.000 |
2501.161 |
3637.083 |
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Profit/(Loss)
Before Tax |
NA |
NA |
25.877 |
46.230 |
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Provision for
Taxation |
NA |
NA |
8.530 |
10.726 |
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Profit/(Loss)
After Tax |
NA |
NA |
17.347 |
35.504 |
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Total Expenditure |
NA |
NA |
2475.284 |
3590.853 |
Note:
Mr. Manish Salvi
has updated Sales figures
KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.69 |
0.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.03 |
1.27 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.85 |
6.98 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.55 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.63 |
6.96 |
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Current Ratio (Current Asset/Current Liability) |
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1.61 |
1.93 |
LOCAL AGENCY
FURTHER INFORMATION
Notes:
The Registered
office of the company was shifted from B – 20, Shriram Industrial Estate, 13, G.
D. Ambekar Road, Wadala, Mumbai – 400031 to the present address.
WEBSITE DETAILS:-
They are one of India’s leading national IT distributors. Since inception have been bringing the latest products and technology solutions to the market and finding new ways to add value to their customers. They offer a broad array of future bound, well structured core technology solutions across diverse verticals.
Subject was founded in 1991, as a value added re-seller, by a team of young and dynamic professionals with marketing, sales and technical know-how spread across various industries. In 1997, the company leveraged its partnership with key Vendors to move into the national distribution space. Over the years, they have formed strong relations with World-class Vendors like Alcatel-Lucent, Apple, Asus, Avocent, BenQ, Brother, Corel, Hitachi, HP, Iomega, LaCie, Lenovo, Logitech, Matrox, Moser Baer, Samsung, Toshiba, UMAX, Wacom and Wipro among others.
Subject is a
computer hardware and peripheral
distribution company headquartered in Mumbai (India) with 32 branch offices. It caters to the
requirements of more than six thousand resellers with a high penetration all
over. Subject was founded in
1991, originally started as a trading organization and moved on to becoming a
national distributor which has been the focus area since 1997. The founders are
a team of young, dynamic professionals with extensive marketing, sales and
technical expertise in the Indian IT industry.
Subject is a computer
hardware and peripheral distribution
company headquartered in Mumbai (India) with 32 branch offices. It caters to the requirements of more than six
thousand resellers with a high penetration all over. Subject was founded in 1991, originally started as a trading
organization and moved on to becoming a national distributor which has been the
focus area since 1997. The founders are a team of young, dynamic professionals
with extensive marketing, sales and technical expertise in the Indian IT
industry.
Strengths
· Developing loyal resellers
· 32 branches reaching 250 cities all over India
· Value Added Distribution
· Based in the commercial capital of India with de-centralized sales operations
· Finance
· Logistics
· Marketing
· Product Management
· HR
· Tech Support
The local functions in each branch are:
· Sales
· Technical support
· Pre and post sales service support
· Logistics management
This structure is
advantageous to their vendors, since they only have one point of contact for the
entire market. The local functions in each state are sales and technical
support.
The sales teams are
well trained on product knowledge. Regular technical and business up gradation
to the team flows down to the channel partners making them empowered to have an
edge above the rest with their customers.
Subject offers IT resellers a unique bundle of services that maximizes
the profit of their businesses:
Broad range of products
With the broad range of products available from neoteric, resellers can
cut down on their procurement costs as they need fewer suppliers and thus save
money on maintenance of price lists in various formats etc. Instead of spending
time searching among several suppliers for a product, resellers can concentrate
on their customers' needs.
They are currently partnered with:
· Adobe
· Apple
· Asus
· AMD
· Benq
· Epson
· Hitachi
· Iomega
· Kodak
· Lacie
· Lexar
· Logitech
· Matrox
· Philips
· Samsung
· Umax
· Wacom
Pre/Post sales support
The company account managers
are happy to assist resellers with customer meetings, seminars or other sales
activities. By using the company account managers, resellers get extra sales
resources.
Value added distribution
Their vendors
understand their VAD concept and feel the need to introduce their products to
the market through a structured and efficient approach. When introducing new
technology to the market, the efficiency in terms of timing and cost is vital.
Their vendors know that Subject can bring their products to the market faster
and cheaper than they themselves can.
VAD has two dimensions:
· Broad line
· Focused verticals
· Corporate
· Corporate Gifting
· Retail
· Gaming
· Telecom
· Consumables
· Enterprise
· Resellers
· Internal Storage
· External Storage
· Digital Imaging
· Digital Video
· Digital Pre-Press
· Photo Retail
Subject has business
groups to focus on specific verticals addressing similar channels - PC
Components business group, PC Peripherals business group and Creative business
group ensuring goals on defined verticals are achieved.
The company sells exclusively through resellers only. They never make
any exceptions to this rule. An important part of the VAD concept in the focus
area dimension is bringing knowledge about new technologies to the market. Product
availability and price competitiveness are not the only factors that determine
purchase behavior. For the customers to benefit from their investments,
choosing the right solution is essential. Cost of ownership is not just a
matter of getting the products to function properly but also about choosing and
implementing the right solutions. By working very closely with their vendors
and resellers they bring knowledge about new technologies to the market because
they know that only the right knowledge will sell the products they carry.
Advantage of the company
· Proven credentials with leading customer and vendor relationships.
· Extensive market experience, averaging 10+ years per person.
· Excellent industry/channel reputation and market credibility.
· Management skills with proven systems, controls and processes.
· Single window for their principals and customers to transact business.
· 6000 channel partners, 250 cities, 110 sales people, focused verticals and structured approach.
Marketing
They have found that the
most effective way to bring products to the marketplace is to create a
push/pull effect. They develop the channel through marketing, seminars,
pre-sales, pilot-installations and sales visits in order to create awareness
and interest for the products. This channel development process is carried out
in close co-ordination with end-user marketing activities. The co-ordination
between the market’s push/pull enforces the market adoption and reseller
willingness to invest in knowledge about the products.
The company has a rich
experience in IT product marketing and all this is available to their partners.
They will design and implement marketing campaigns together with their partners
from ideas to funding.
Every day the company generates sales leads. These leads come from their
online advertising, as responses from mailings, from their vendors and many
other sources. They share these leads with their resellers and keep track of
their status.
Typical activities
include
· Advertising
· Road shows
· Brochures
· Press Releases
· Reseller Mailings
· Telemarketing
· Neo news happenings @neoteric
· Exhibitions and trade shows
· Seminars and road shows
· Web advertising
· E-mail newsletters
Technical Support / Training
A part of the VAD concept is providing technical support. Subject
provides technical support to resellers, training and education. Subject offers
technical training for systems people and sales training for sales people. The
sales training takes sales people through a learning experience that is
tailored specifically for the sale of products.
Human Resource Department
The HR Department
offers a wealth of experience in all facets of human resource programs, policy
development, and practice. The HR Department's experienced human resources
professionals provide comprehensive, timely, cost-effective solutions. They
provide an integrated series of topnotch human resource solutions that are
customized to the needs and stages of development facilitating the organization
to move towards the goal.
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 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.40.04 |
|
UK Pound |
1 |
Rs.79.11 |
|
Euro |
1 |
Rs.63.44 |
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. |
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 |
|