MIRA
INFORM REPORT
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Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
DATAMINI TECHNOLOGIES INDIA LIMITED |
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Formerly Known As : |
GES TECHNOLOGIES LIMITED |
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Registered Office : |
Unit No. 101/ 104, SDF IV, Seepz, Andheri (East), Mumbai – 400 096,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
07.01.1991 |
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Com. Reg. No.: |
11-59702 |
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CIN No.: [Company
Identification No.] |
U30007MH1991PLC059702 |
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IEC No.: |
2791000046 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR08240B |
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PAN No.: [Permanent
Account No.] |
AABCG3515E |
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Legal Form : |
A Closely Held Public Limited Company |
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Line of Business : |
Manufacturer and Exporter of Datamini Brand Computers |
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 487000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Krishnan |
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Designation : |
Account and Finance Manager |
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Date : |
10.12.2008 |
LOCATIONS
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Registered Office/ Factory : |
Unit No. 101/ 104, SDF IV, Seepz, Andheri (East), Mumbai – 400 096,
Maharashtra, India |
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Tel. No.: |
91-22-28290296/ 28324697/ 40428888 |
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Fax No.: |
91-22-28290145/ 28213296 |
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E-Mail : |
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Website : |
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Area : |
3500 sq ft |
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Location : |
Rented |
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Corporate Office
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A-1, Udyog Sadan – 3, MIDC, Andheri East, Mumbai - 400 093, Maharashtra, India |
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Service Centre : |
C-117, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri(East), Mumbai - 400 072, Maharashtra, India |
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Tel. No.: |
91-22-32568511,28473782,28476071,40053782 |
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E-Mail : |
gesservice@datamini.co.in
(Customer Support) |
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Warehouse : |
A, 03, Marigold Bldg., Vasant Vihar Complex,Evershine City, Vasai
(East), Thane – 401202, Maharashtra, India |
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Mobile No.: |
91-9326472569 |
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E-Mail : |
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Factory : |
Plot No.37, GDDIDC, Somnath Road, Opposite Gurukrupa Restaurant, Dabhel, Daman 396210. |
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Tel. No.: |
91-260-2243417 |
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Mobile No.: |
91-9323182774 |
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Fax No.: |
91-260 - 3096526 |
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E-Mail : |
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Branch Office : |
Bangalore: 253-58,1st Floor,Sajjan Rao Circle .Chakravarthy Complex V.V.Puram ,Banglore-560004 Email : gesbang@datamini.co.in Kolkata: Hyderabad
: 376,3rd Floor,Chenoy Trade Centre Park Lane, Secunderabad, Pin:-500 003 Email : geshyd@datamini.co.in New Delhi: Telephone : 91-11-30823410 |
DIRECTORS
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Name : |
Mr. Pitambar Ahuja |
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Designation : |
Director |
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Address : |
Flat No.14, Navbahar Building, Plot No.464, S.S. VIII, 15th
road, Khar (West), Mumbai – 400 062, Maharashtra, India |
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Date of Birth/Age : |
24.06.1954 |
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Date of Appointment : |
19.07.1991 |
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Name : |
Mr. Naresh Kapoor |
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Designation : |
Director |
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Address : |
10, Anson Road, # 45-07, Singapore – 079903, Singapore |
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Date of Birth/Age : |
15.08.1947 |
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Date of Appointment : |
22.04.1993 |
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Name : |
Mr. Kunal Ahuja |
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Designation : |
Director |
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Address : |
502, Gabbana House, 15th road, Khar (West), Mumbai – 400
062, Maharashtra, India |
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Date of Birth/Age : |
21.05.1987 |
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Date of Appointment : |
16.01.2006 |
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Name : |
Mrs. Prerna Kapoor |
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Designation : |
Director |
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Address : |
10, Anson Road, # 45-07, Singapore – 079903, Singapore |
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Date of Birth/Age : |
25.02.1982 |
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Date of Appointment : |
16.01.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 25.09.2007
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Names of Shareholders |
No. of Shares |
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Ahuja Gopaldas Pitamber (HUF) |
12500 |
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Ahuja Pitamber Krati |
179521 |
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Ahuja Pitamber Kunal |
299521 |
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Ahuja Gopaldas Pitamber |
332550 |
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Ahuja Pitamber Nikita |
131800 |
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Saujani Manjibhai Kakubhai |
16000 |
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Saujani Manjibhai Gopaldas |
16000 |
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Valona Technologies Pte. Limited |
618085 |
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Asha Kapoor |
309043 |
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Total |
1915020 |
As on 25.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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32.00 |
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Directors
or relatives of directors |
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66.00 |
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Other
top fifty shareholders |
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2.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Datamini Brand Computers |
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Products : |
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Exports : |
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Products : |
Datamini Brand Computers |
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Countries : |
Singapore, Nigeria |
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Imports : |
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Products : |
Components and Raw Material |
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Countries : |
Hong Kong, Taiwan, Singapore, Malaysia |
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Terms : |
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Selling : |
L/C, Credit 30/ 60 days |
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Purchasing : |
L/C, Credit 30 days |
PRODUCTION STATUS As on 31.03.2007
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Computers |
Nos. |
Not Applicable |
Not
Ascertainable |
10799 |
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DVD Player |
Nos. |
Not Applicable |
Not
Ascertainable |
84 |
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Motherboard |
Nos. |
Not Applicable |
Not
Ascertainable |
1830 |
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Memory |
Nos. |
Not Applicable |
Not
Ascertainable |
3054 |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users, Dealers, Governments and Corporate
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No. of Employees : |
60 ( In office – 25, In factory – 17, In Branches – 18) |
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Bankers : |
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Facilities : |
Secured Loans :
Unsecured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V.C. Shah and Company Chartered Accountants |
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Address : |
3rd Floor, Rajgir Chambers, 12/ 14, Sahid Bhagat Singh
Road, Opposite Old Custom House, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-22634021 |
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Fax No.: |
91-22-22662667 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1915020 |
Equity Shares |
Rs.10/- each |
Rs.19.150
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
19.150 |
19.150 |
19.150 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
78.396 |
76.972 |
74.390 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
97.546 |
96.122 |
93.540 |
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LOAN FUNDS |
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1] Secured Loans |
10.999 |
39.625 |
21.136 |
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2] Unsecured Loans |
0.000 |
6.268 |
9.166 |
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TOTAL BORROWING |
10.999 |
45.893 |
30.302 |
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DEFERRED TAX LIABILITIES |
6.288 |
6.911 |
7.016 |
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TOTAL |
114.833 |
148.926 |
130.858 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
35.286 |
38.994 |
42.348 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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85.488
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170.054 |
138.912 |
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INVESTMENT |
1.409 |
1.409 |
1.506 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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122.183 |
210.457 |
182.766 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
39.072
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65.954 |
47.399 |
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Sundry Debtors |
26.354
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67.657 |
61.484 |
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Cash & Bank Balances |
1.435
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5.210 |
1.917 |
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Other Current Assets |
0.000
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0.006 |
0.006 |
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Loans & Advances |
18.627
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31.227 |
28.106 |
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Total
Current Assets |
85.488
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170.054 |
138.912 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
9.704
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66.373 |
57.631 |
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Provisions |
5.171
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2.683 |
1.801 |
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Total
Current Liabilities |
14.875
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69.056 |
59.432 |
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Net Current Assets |
70.613
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100.998 |
79.480 |
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MISCELLANEOUS EXPENSES |
7.525 |
7.525 |
7.524 |
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TOTAL |
114.833 |
148.926 |
130.858 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
742.882 |
695.809 |
544.438 |
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Other Income |
3.707 |
6.858 |
3.636 |
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Total Income |
746.589 |
702.667 |
548.074 |
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Profit/(Loss) Before Tax |
3.110 |
3.053 |
2.019 |
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Provision for Taxation |
1.673 |
0.253 |
1.166 |
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Profit/(Loss) After Tax |
1.437 |
2.800 |
0.853 |
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Earnings in Foreign Currency : |
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Export Earnings |
80.025 |
122.292 |
34.925 |
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For Services |
0.389 |
0.646 |
67.783 |
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Total Earnings |
80.414 |
122.938 |
102.708 |
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Imports : |
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Raw Materials |
52.542 |
113.885 |
28.427 |
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Total Imports |
52.542 |
113.885 |
28.427 |
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Expenditures : |
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Manufacturing, Administrative and
Selling Expenses |
24.893 |
35.096 |
58.013 |
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Material Cost |
710.323 |
655.828 |
479.730 |
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Finance Cost |
4.435 |
4.893 |
4.523 |
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Depreciation & Amortization |
3.828 |
3.797 |
3.789 |
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Total Expenditure |
743.479 |
699.614 |
546.055 |
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Expected Sales (2008-09): Rs.740.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.19
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0.40 |
0.16 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.42
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0.44 |
0.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.55
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1.45 |
1.10 |
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Return on Investment (ROI) (PBT/Networth) |
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0.03
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0.03 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.27
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1.20 |
0.96 |
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Current Ratio (Current Asset/Current Liability) |
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5.75
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2.46 |
2.34 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
DATAMINI TECHNOLOGIES INDIA LIMITED |
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Presented By |
Central Bank of India,
Seepz Branch, Mumbai – 400 057 |
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1) Date and description of instrument creating the change |
Letter of
Hypothecation of Hypothecation of Book debts dated 29.03.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.55.000
millions |
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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 |
All the
Borrower’s present and future book debts, outstanding, moneys, receivables,
claims, bills, contracts, securities, investments, rights and assets (except
properly effectively otherwise hypothecated or charges to the Bank). |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest – 20.50%
p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Central Bank of
India, Seepz Branch, Mumbai – 400 057 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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10012750 |
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Corporate
identity number of the company |
U30007MH1991PLC059702 |
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Name of the
company |
DATAMINI TECHNOLOGIES INDIA LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Unit No. 101/ 104, SDF IV, Seepz, Andheri (East), Mumbai – 400 096,
Maharashtra, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Punjab National Bank, Offshore Banking Unit, Seepz, Andheri (East),
Mumbai – 400 096, Maharashtra, India E-Mail: anilahuja@pnboffshore.com |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
14.12.2006 |
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Amount secured by
the charge |
Rs.15.700
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
The interest at the rate of 6 months LIBOR + 2.00% per annum or such other
may be prescribed by the Bank from time to time. Terms of
Repayment: On demand Margin: The
company has to keep and maintain of 10% as stipulated in the terms of
sanction in favour of the Bank. Extent and
Operation of the charge: Punjab National Bank, Offshore Banking Unit, Seepz,
Andheri (East), have enhanced Post shipment Finance (FABC/ FAUBC) from USD
150000 (Equivalent to Rs.6.700 millions) to USD 350000 (Equivalent to
Rs.15.700 millions) contracts, engagements, securities, investments, rights
and other movable assets by way of first charge as a continuing Security to
the Bank. |
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Short particulars
of the property charged |
By present 1st
Modification, Punjab National Bank, Offshore Banking Unit, Seepz, Andheri
(East), have enhanced Post shipment Finance (FABC/ FAUBC) from USD 150000
(Equivalent to Rs.6.700 millions) to USD 350000 (Equivalent to Rs.15.700
millions) contracts, engagements, securities, investments, rights and other
movable assets by way of first charge as a continuing Security to the Bank. |
TRADE REFRENCES:
- BST – Bombay
- BSNL – Bombay
FIXED ASSETS:
- Lease Hold Land
- Building
- Plant and Machinery
- Air Conditioner
- Factory Equipments
- Testing Equipments
- Office Equipments
- Electrical Fittings
- Furniture and Fixtures
- Vehicles
- Computer
WEBSITE DETAILS:
Profile:
Subject was incorporated in the year 1997 focusing on sale of Datamini range of computers manufactured in the state of the art ISO 9001:2000 certified production facility in Daman with a fully automated assembly line and also have a assembly unit in SEEPZ for execution of 100% export or duty exempted orders.
The manufacturing at Daman apart from computers also includes Graphic cards, memory modules, energy meters, motherboards and networking hubs for leading OEM vendors. The Head Office is in SEEPZ, Mumbai with branch offices in Bangalore, Delhi, Hyderabad and Kolkata.
Subject, DAMAN MANUFACTURING PLANT
Promoted by Industry Professionals
Incorporated in the year 1991.
Manufacturing facility at Daman with fully automated assembly lines.
Manufacturing includes:
- Datamini range of PC?s
- Mother boards / Graphic cards.
- Memory Modules.
Focused in Sales and distribution of Datamini range of products.
SALIENT FEATURES OF THE DAMAN MANUFACTURING PLANT
Subject has built a state-of-the-art manufacturing facility at Daman with fully
automated assembly lines.
Manufacturing includes:
- Datamini range of PC's.
- Mother boards / Graphic Cards.
- Memory Modules.
Some of the features
of the Plant are:
Pre-soak motorized conveyor system for initial assembly of systems.
- Burn-in 4-tier conveyor system for soaking of system.
- 100 systems can be soaked at a time.
- Post-soak motorized powered conveyor system for final testing of the system And loading of various software.
- Conveyor system for packing of systems.
- All conveyor systems are with electrically operated pneumatic screwdrivers.
Datamini Festiva
series
Datamini Festiva series is synonymous with quality Desktop Systems.
At the heart of the Festiva series is the latest generation of the fastest Intel Pentium Dual core, Core 2 Duo and Core 2 Quad processors with enhanced features such as Advanced Transfer Cache and higher Front-Side Bus (800MHz to 1333 MHz) that makes constant computing a reality. Background applications and network activities that use to hog the system and network will virtually become non-existent. Managing corporate PC's has never been so easy. Datamini Festiva MG series integrates seamlessly with the Entares Server series in the network environment. Communicating with all clients in the network environment, it boasts a host of unprecedented features. They include remote system wake-up and shutdown during off-hours for maintenance, remote new systems set-up and applications download with Microsoft Windows XP suite of operating systems and fast auto-switching of system state for power optimization. Datamini Festiva MG Series is, very simply, the perfect suite of managed computers in a corporate environment that epitomizes Datamini's no-frills commitment to quality.
Datamini Festiva MG series also offers workstation model for the latest designing applications.
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In the effort to bring the best products they have set up various dealers in the remotest possible place in the entire country. |
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Gujarat : |
Madhya Pradesh : |
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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.48.52 |
|
UK Pound |
1 |
Rs.72.62 |
|
Euro |
1 |
Rs.63.76 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of 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. |
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 |
|