MIRA
INFORM REPORT
|
Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ORIENT TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
2 and 3, Niraj Industrial Estate, Off Mahakali Caves Road, Andheri
(East), Mumbai-400059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.07.1997 |
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Com. Reg. No.: |
11-109219 |
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CIN No.: [Company
Identification No.] |
U64200MH1997PTC109219 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMO01906C |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing,
Purchase, Imports, Sell and provide Service in Office Automation, Computers,
Telecommunication and other Electronics Goods and their Parts and Peripherals |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 230000 |
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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 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 : |
2 and 3, Niraj Industrial Estate, Off Mahakali Caves Road, Andheri
(East), Mumbai-400059, Maharashtra, India |
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Tel. No.: |
91-22-24960808 /
89 |
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Fax No.: |
91-22-55021180 /
24921016 |
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E-Mail : |
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Website : |
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Area : |
Rented |
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Head Office : |
316, Vasan Udyog
Bhavan, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra,
India |
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Tel. No.: |
91-22-24960427/0801/0537/0809/3243 |
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Fax No.: |
91-22-24960808 |
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Sales Office : |
Tel. No.
91-22-22622871/22641895/96 Fax. No. 91-22-22673739
Tel. No. 91-22-27687778 |
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Warehouse : |
7/11, Sector 8,
CBD Belapur, Navi Mumbai, Maharashtra, India |
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Retail Outlet: |
HP World Store, 13,
Chitra, Shantilal Modi Marg, Kandivli (West), Mumbai - 400 096, Maharashtra,
India |
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Branches : |
Tel No.; 91-79-26747779 / 26733056 Email : vinaysalvi@orientindia.net
Tel No.; 91-11-51605315 Mobile No.: 91-9811797222 Email : sunilarora@orientindia.net
Tel No.; 91-44-52079301 Mobile No.: 91-44-52079301 Email : jojiphilip@orientindia.net
Tel No.: 91-22-27577778
Tel No.; 91-80-22207335 Mobile No.: 91-9844018802 Email : sajidpatel@orientindia.net |
DIRECTORS
|
Name : |
Mr. Ajay Baliram
Sawant |
|
Designation : |
Whole Time Director |
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Address : |
10/101, Mhada Housing Board, Oshiwara,
Andheri (West), Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
06.05.1967 |
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Date of Appointment : |
04.07.1997 |
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Name : |
Mr. Ujjwal Arvind
Mhatre |
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Designation : |
Whole Time Director |
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Address : |
10/201 Mhada
Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
07.03.1968 |
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Date of Appointment : |
04.07.1997 |
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Name : |
Mr. Jayesh
Manoharlal Shah |
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Designation : |
Whole Time Director |
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Address : |
09/201, 2nd
Floor, Mhada Housing Board, Oshiwara,
Andheri (West), Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
07.03.1968 |
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Date of Appointment : |
04.07.1997 |
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Name : |
Mr. Umesh Navnitlal Shah |
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Designation : |
Whole Time
Director |
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Address : |
23, Nupur, 2nd
Floor, J. V. P. D. Scheme, Near Gulmohar, Cross Road No. 4, Mumbai – 400 049,
Maharashtra, India |
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Date of Birth/Age : |
02.09.1969 |
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Date of Appointment : |
04.07.1997 |
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Name : |
Mrs. Sonia A.
Sawant |
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Designation : |
Whole Time
Director |
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Address : |
10/101 Mhada
Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
11.05.1968 |
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Date of Appointment : |
02.10.2000 |
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Name : |
Mrs. Deepa U.
Mhatre |
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Designation : |
Whole Time
Director |
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Address : |
201, Building No.
10, 2nd Floor, New Link Road, Oshiwara, Andheri (West),
Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
07.07.1972 |
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Date of Appointment : |
04.07.1997 |
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Name : |
Mrs. Parul J.
Shah |
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Designation : |
Whole Time
Director |
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Address : |
09/201, 2nd
Floor, Mhada Housing Board, Oshiwara,
Andheri (West), Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
08.11.1969 |
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Date of Appointment : |
04.07.1997 |
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Name : |
Mrs. Sejal U.
Shah |
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Designation : |
Whole Time
Director |
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Address : |
23, Nupur 2nd
Floor, J. V. P. D. Scheme, Near Gulmohar, Cross Road No. 4, Mumbai –400049,
Maharashtra, India |
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Date of Birth/Age : |
19.05.1971 |
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Name : |
Ms. Divya Jain |
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Designation : |
Whole Time
Director |
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Address : |
Flat No. 605 Wing
3C, Dhiraj Vally, Goregaon (East), Mumbai – 400063, Maharashtra, India |
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Date of Birth/Age : |
13.10.1970 |
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Date of Appointment : |
04.07.1997 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 22.01.2008
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ajay B.
Sawant |
|
11250 |
|
Mr. Jayesh M.
Shah |
|
10750 |
|
Mr. Ujjwal A.
Mhatre |
|
11250 |
|
Mr. Umesh N. Shah |
|
11250 |
|
Ms. Divya Jain |
|
5625 |
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Total |
|
50125 |
Equity Share Breakup (Percentage of Total Equity) :-
As on 30.09.2007
|
Category |
|
Percentage |
|
Directors or
relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Purchase, Imports, Sell and provide Service in Office Automation, Computers, Telecommunication
and other Electronics Goods and their Parts and Peripherals |
|
|
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Products : |
v
Storage
Solutions v
Intel
Servers v
Enterprise
Servers v
Mail
Management v
Citrix v
Exchange
Offer v
AMC v
Facility
Management v
WAN and LAN
Services |
GENERAL INFORMATION
|
Suppliers : |
Ř
Alphabetics
Business Machines Private Limited Ř
Arihant
Computer Ř
Data Care
Corporation Ř
Datapro
Infoworld Limited Ř
D-Link India
Limited Ř
Nexus
Computers Limited Ř
Iris
Computer Limited Ř
Redington
India Limited Ř
HCL
Infosystems Limited Ř
Wipro
Peripherals Limited |
|
|
|
|
Customers : |
Ř
Larsen and
Tourbo Limited Ř
Accutrol
Systems Private Limited Ř
ATE
Enterprises Limited Ř
Bank of Noya
Scotia (C) Ř
Bank of
Punjab (N. P.) Ř
Bharti
Cellular Limited Ř
Bharti
Shipyard limited Ř
Birla AT and
T Communications Limited Ř
Blue Dart
Express Limited Ř
DHL
Worldwide Express (India) Private Limited Ř
Duflon
Polymers Private Limited Ř
Hewlett
Packard India Limited (AMC) Ř
Huges
Tele.Com (India) Limited Ř
HP India
Limited Ř
IBM India
Limited Ř
Pidilite Industries
Limited Ř
Punjab
and Maharashtra Co-operative Bank
Limited Ř
Reserve Bank
of India Ř
State Bank
of India Ř
Tata
Institute of Fundamental Research Ř
Tata
Internet Services Limited Ř
The Great
Eastern Shipping Company Limited Ř
The Leela
Mumbai Ř
Vidyut
Corporation Private Limited |
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|
|
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No. of Employees : |
22 (In Mumbai) |
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Bankers : |
Ř
Citi Bank N.A., Cititower, Parel, Mumbai ,
Maharashtra, India Ř
Punjab and
Maharashtra Co-Operative Bank Limited, Fort Branch, Mumbai – 400001,
Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Santosh G. Ghag
and Company Chartered
Accountants |
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Address : |
3, Ovalwadi,
Ground Floor, Taya Gharpure Path, Girgaon, Mumbai – 400004 316. Daulat Bhavan,
407, Kalbadevi Road, Mumbai-400002, Maharashtra, India |
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Tel. No.: |
91-22-2200 0362 |
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Fax No.: |
91-22-2201 8703 |
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E-Mail : |
CAPITAL STRUCTURE
As on 29.09.2007
:-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
55000 |
Equity Shares |
Rs. 100/-
each |
Rs. 5.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.500 |
5.000 |
4.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
40.827 |
15.985 |
8.133 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.327 |
20.985 |
12.633 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
46.327 |
20.985 |
12.633 |
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|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
13.845 |
11.539 |
12.262 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.537 |
6.876 |
0.126 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.586
|
5.823
|
1.302
|
|
|
Sundry Debtors |
110.067
|
79.160
|
56.306
|
|
|
Cash & Bank Balances |
9.126
|
9.873
|
0.592
|
|
|
Other Current Assets |
2.084
|
1.241
|
8.262
|
|
|
Loans & Advances |
14.000
|
6.904
|
3.850
|
|
Total
Current Assets |
141.863
|
103.001
|
70.312
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
106.854
|
95.763
|
66.799
|
|
|
Provisions |
12.067
|
4.671
|
3.272
|
|
Total
Current Liabilities |
118.921
|
100.434
|
70.071
|
|
|
Net Current Assets |
22.942
|
2.567
|
0.241
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.003 |
0.003 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
46.327 |
20.985 |
12.633 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
628.649 |
482.683 |
335.023 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
628.649 |
482.683 |
335.023 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
33.723 |
11.055 |
5.558 |
|
|
Provision for Taxation |
0.000 |
0.000 |
1.610 |
|
|
Profit/(Loss) After Tax |
33.723 |
11.055 |
3.948 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
2.744 |
471.629 |
|
|
|
Interest |
NA |
0.002 |
329.465 |
|
|
Other Expenditure |
592.182 |
469.473 |
|
|
Total Expenditure |
594.926 |
471.628 |
329.465 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.36
|
2.29
|
1.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.36
|
2.29
|
1.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.41
|
9.11
|
6.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.73
|
0.53
|
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.57
|
4.79
|
5.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.03
|
1.00 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the Company ORIENT TECHNOLOGIES PRIVATE LIMITED Presented by CITI BANK N.A., CITITOWER, PAREL, MUMBAI |
|
|
Date and description of instrument creating the change |
22nd September, 2004 equitable mortgage by deposit of title deeds. |
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Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 millions only |
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Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Original Title Deeds of Commercial Property of the Borrower Situated at Unit No 2 & 3, Niraj Industrial Premises Co-Op. Society Limited, Plot NO. 15/B, Mahal Industrial Estate, Mahakali Caves Road Andheri (East), Mumbai – 400093 |
|
Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest is 2.75% less than application Citibank PLR which is currently 17.75% p.a. (applicable rate = 10%) |
|
Name and Address and description of the person entitled to the charge. |
Citibank N.A., Cititower, Parel Mumbai |
|
Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Name of the Company ORIENT TECHNOLOGIES PRIVATE LIMITED Presented by PUNJAB AND MAHARASHTRA CO-OP BANK LIMITED |
|
|
Date and description of instrument creating the change |
No instrument was executed. However the equitable mortgage has been created by way of deposit of deeds, on 12-3-2004 |
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Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.056 millions |
|
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 that piece and parcel of immovable properties being unit No.2 admeasuring 1140 sq. fts. I.e. 105.94 sq. mts. Are and unit No. 3 admeasuring 1140 sq. ft.- ground floor, Niraj Industrial Estate, Mahal Industrial estate, Mahakali Caves Road, Andheri (East), Mumbai – 400 093, plot No. 16-B, Survey No. 88, Hissa No. 1 Part and city survey No. 46 Par, Village, Mulgaon Taluka Hobli – Andheri, District – Mumbai, together with all structures and machinery standing thereon and to be put up in future, belonging to the borrower. |
|
Gist of the terms and conditions and extent and operation of the charge. |
To secure due repayment of term loan facility granted by the bank of the borrower together with interest thereon and or / any monies that may become due from time to time. |
|
Name and Address and description of the person entitled to the charge. |
Punjab and Maharashtra Co-op bank Limited Fort Branch, Mumbai - 400001 |
|
Date and brief description of instrument modifying the charge |
Not Applicable |
|
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 |
The company's product range includes :
- HP Pavilion 4403
- HP Pavilion 4407
- HP Pavilion 6418
- HP Pavilion 8415
- 17" HP SVGA Multimedia Monitor in
Lieu of 15" HP SVGA Multimedia Monitor
Fixed Assets :
- Furniture and Fixture
- Computers and Printers and Mon.
- Air Conditioner
- Pager
- Refrigerator
- Mobile
- Office Equipment
- HP Calculator
- Motor Car
- EPABX Machine
- Motor Cycle
- Borther Fax Machine
- CD Player
- Music System
- Ultima 600 Series 33U Rack
- Compaq Proliant ML35G and Ultima 600
Series Rack
- Hp 1215Copier Xerox
- Water Cooler
- IBM Thinkcentre 8175-114Q with Monitor
AS PER WEBSITE :-
History:
Subject is a leading System Integrator and a
Premier Solution Provider in IT space. The company can deliver a broad range of
System Integration and Project Management Solutions.
Over the past decade subject has been working with
Enterprises and helping them plan and deploy IT Infrastructure for business
critical applications. The experience that Orient has gained over the years ranges
from recommending IT Products, consultancy in designing networks, implementing
hardware / software solutions, providing hardware maintenance services
extending to facilities management and complete outsourcing of operations.
Being Partner with HP and IBM, can provide solutions that are proven world
over.
The company’s customers include some of the leading
Pharma companies, Manufacturers, Internet Service Providers, Banks and a large
pool of Small and Medium Enterprises.
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.43.21 |
|
UK Pound |
1 |
Rs.85.72 |
|
Euro |
1 |
Rs.67.92 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
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. |
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 |
|