MIRA
INFORM REPORT
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Report Date : |
25.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHRO SYSTEMS PRIVATE LIMITED |
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Registered Office : |
Shrinath 1184/4, Dyneshwar Paduka Chowk, F C Road, Pune – 411 005, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
03.03.2000 |
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Com. Reg. No.: |
11-14446 |
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CIN No.: [Company
Identification No.] |
U72200PN2000PTC014446 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES09451B |
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PAN No.: [Permanent
Account No.] |
AAGCS0761F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer for Computer hardware parts of HP, Intel, Dealing Microsoft
etc. |
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 87000 |
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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 meeting, its normal
commitments timeously. Trade relations are fair. Business is active. The companmy can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Ms. Anjali |
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Designation : |
Administrative Officer |
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Date : |
24.07.2008 |
LOCATIONS
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Registered Office : |
Shrinath 1184/4, Dyneshwar Paduka Chowk, F C Road, Pune – 411 005,
Maharashtra, India |
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Tel. No.: |
91-20-25532244, 25531863, 25530708, 4015381, 4015382 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Vijay Vishnu Shrotriya |
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Designation : |
Chairman and Managing Director |
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Address : |
A4, 19 Tridal Nagar, Yerawada, Pune – 411 006, Maharashtra, India |
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Date of Appointment : |
03.02.2000 |
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Name : |
Mr. Anirudh Vijay Shrotriya |
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Designation : |
Whole Time Director |
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Address : |
A4, 19 Tridal Nagar, Yerawada, Pune – 411 006, Maharashtra, India |
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Date of Appointment : |
03.02.2000 |
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Name : |
Mrs. Vasudha Anirudh Shrotriya |
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Designation : |
Whole Time Director |
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Address : |
A4, 19 Tridal Nagar, Yerawada, Pune – 411 006, Maharashtra, India |
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Date of Appointment : |
03.02.2000 |
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Name : |
Mrs. Jayashri Vijay Shrotriya |
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Designation : |
Whole Time Director |
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Address : |
A4, 19 Tridal Nagar, Yerawada, Pune – 411 006, Maharashtra, India |
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Date of Appointment : |
03.02.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Anirudh Vijay Shrotriya |
7510 |
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Vasudha Anirudh Shrotriya |
7510 |
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Vijay Vishnu Shrotriya |
7510 |
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Jayashri Vijay Shrotriya |
7510 |
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Total |
30040 |
Equity Share Breakup (Percentage of Total Equity)
(As on 29.09.2007)
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Category |
Percentage of
Holding |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer for Computer hardware parts of HP, Intel, Dealing Microsoft
etc. |
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Products : |
·
Multimedia ·
Peripherals ·
Consumables ·
Networking ·
Software Reselling ·
Laptop Accessories ·
SCSI Based Solutions |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
·
Veritas Software India Private Limited ·
Bajaj Auto India Limited ·
Perfect Moulds Limited ·
Aditya Birla Memorial Hospital ·
Kinetic Engineering Limited ·
Tata Honeywell Limited ·
L and T Infotech Private Limited ·
Tata Consultancy Services ·
Indian Air Force ·
Nitman Software Private Limited ·
Ruby Hall Clinic ·
Pune Metagraph Computer
Training Clients ·
Symbiosis Institute of International Business ·
Symbiosis Institute of Management Studies for Defence ·
College of Military Engineering (CME) ·
Southern Command, Army ·
Allahabad Bank Via CMC Limited ·
Janta Sahakari Bank ·
Bharat Trading Company |
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No. of Employees : |
52 |
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Bankers : |
·
Union Bank of India F C Road Branch, 1202, Shirole Road, Deccan
Gymkhana, Pune – 411 004, Maharashtra, India ·
Bank of
Maharashtra Model Colony, Pune – 411 016, Maharashtra, India |
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Facilities : |
OD – Rs.5.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. A. Agarwal Chartered Accountants |
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Address : |
95/96, Somwar Peth, Union Bank Lane, Pune – 411 001, Maharashtra,
India |
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Group of Companies : |
·
Shro’s Computer Mart (Retail Venture of Shro Systems Private Limited ·
Shro Investments ·
Shro Computer Academy (Training Division of Shro Systems Private
Limited) ·
Shro Informatics ·
Aero Printer Ribbons |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30040 |
Equity Shares |
Rs.10/- each |
Rs.0.300 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.300 |
0.300 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
17.016 |
8.830 |
5.430 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.316 |
9.130 |
5.730 |
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LOAN FUNDS |
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1] Secured Loans |
10.493 |
9.250 |
5.656 |
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2] Unsecured Loans |
2.361 |
1.690 |
1.674 |
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TOTAL BORROWING |
12.854 |
10.940 |
7.330 |
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DEFERRED TAX LIABILITIES |
0.000 |
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TOTAL |
30.170 |
20.070 |
13.060 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.665 |
4.541 |
4.481 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.644
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2.657 |
2.241 |
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Sundry Debtors |
20.722
|
10.156 |
10.331 |
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Cash & Bank Balances |
7.097
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4.722 |
0.250 |
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Other Current Assets |
0.014
|
0.000 |
0.143 |
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Loans & Advances |
5.724
|
4.182 |
2.037 |
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Total
Current Assets |
38.201
|
21.717 |
15.002 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
12.696
|
6.188 |
5.537 |
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Provisions |
0.000
|
0.000 |
0.886 |
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Total
Current Liabilities |
12.696
|
6.188 |
6.423 |
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Net Current Assets |
25.505
|
15.529 |
8.579 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
30.170 |
20.070 |
13.060 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.48
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1.88 |
2.40 |
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Current Ratio (Current Asset/Current Liability) |
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3.01
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3.51 |
2.34 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
·
HP
·
Microsoft
Form No. 8
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Name of the company |
SHRO SYSTEMS PRIVATE LIMITED |
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Presented By |
WG. CDR. V. V.
Shrotriya (Retd) – Managing Director |
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1) Date and description of instrument creating the change |
30th
March, 2001 Composite Deed of
Hypothecation for all facilities |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 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 stocks of raw
material, semifinished goods, stores and spares, bills receivables and book
debts, and all other movables, both present and future, pertaining to the
borrowers at Shivajinagar, Pune |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
2.5% over prime lending rate, subject to minimum of 15.5% p.a. with quarterly
rest, or such other rate as may be notified by the Bank from Time to time. Cash credit Limit
against hypothecation of stocks Rs.0.900 million And against
hypothecation of book debts Rs.0.600 million |
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5) Name and Address and description of the person entitled to the charge. |
Bank of
Maharashtra Model Colony,
Pune – 411 016 |
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6) Date and brief description of instrument modifying the charge |
Composite Deed of
Hypothecation For All Facilities dated 8th May, 2004 |
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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. |
The original
charge created on 30th March, 2001 for Rs.1.500 millions was modified
by Composite Deed of hypothecation For All Facilities on 5th July,
2002 Modifying fund based limits from Rs.1.500 millions to Rs.2.500 millions
and new non-fund based limits in the form of guarantee limits of Rs.0.500
million and a term loan for purchase of office premises of Rs.3.200 millions
granted making the total limit of Rs.6.200 millions. Term Loan to be repaid
within 7 years commencing from the date of disbursement of last installment
or September, 2002 in installments of Rs.0.041 million per month. Additional
security has been provided by way of hypothecation in favour of the Bank over
the Borrowers present and future movable plants, Machineries, goods, stocks
in process, semi finished and finished goods, stores and spares not relating
to plant and machinery (Consumable stores and spares), stock in trade, goods
in process, movables in transit, Bills Receivable, and Book Debts and all the
Borrower’s other movable assets and properties both present and future
situated or located at any place and now lying being affixed or installed at
any place at any place at any time and the borrowers goodwill and outstanding
monies, claims, receivables, book debts, due or become due to the borrowers
at any time or from time to time, and all of the Borrowers rights titles or
interest therein. The rate of
interest – 1% over Prime Lending rate Subject to minimum of 13% p.a. Other terms and
conditions remaining the same By this
modification the cash credit limit has been raised from Rs.2.500 millions to
Rs.3.500 millions and the total facility increased from Rs.6.200 millions to
Rs.7.200 millions The rate of
interest 12% p.a. Margin 25% Other terms and
conditions remaining the same. |
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Corporate
identity number of the company |
U72200PN2000PTC014446 |
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Name of the
company |
SHRO SYSTEMS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Shrinath 1184/4, Dyneshwar Paduka Chowk, F C Road, Pune – 411 005,
Maharashtra, India |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Union Bank of India F C Road Branch, 1202, Shirole Road, Deccan Gymkhana, Pune – 411 004,
Maharashtra, India |
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Nature of
instrument creating charge |
Hypothecation
Agreement of Goods and Debts |
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Date of
instrument Creating the charge |
13.03.2006 |
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Amount secured by
the charge |
Rs.5.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of Interest 9% p.a. with monthly rests ·
Margin 20% |
|
Description of
the property charged indicating whether it is a charged on |
·
Stock in
trade ·
Book debts |
Web Details
Subject would like to introduce themselves as an established entity offering
Total Computer Solutions in the vibrant IT savvy city of Pune, Maharashtra,
India.
Wg.Cdr.V.V.Shrotriya,
a retired officer pilot in the Indian Air Force and a war veteran,
founded the company in the year 1988. They can safely say he crash-landed
into the field of computers.
What started out
as a business out of a pensioner's money has slowly and steadily grown into an
established name in the computer field in Pune.
In the past 15 years we have dealt with products and services related to
Computer Systems, Hardware, Networking, Annual Maintenance Contracts, Software,
Consumables, Peripherals, Stationery and Computer Training.
Subject has over the years earned the reputation of being a customer friendly
organisation, which gives very reliable, high quality & genuine material
backed by an efficient after sales service.
Milestones in the venture:
|
1988 |
Established the Parent Company - Shro Systems |
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1990 |
Established the Hardware Concern - Ani Computers |
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1991 |
Established the Manufacturing Concern - Aero Printer Ribbon |
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1992 |
Established the Investment Services - Shro Investments |
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1997 |
Established the Training Division - Shro Computer Academy |
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1997 |
Established the Software Development Concern - Shro Informatics |
|
2000 |
Privatisation of the Company |
|
2003 |
Opening of Shro's Computer Mart - Retail Venture |
They
hold distributorships and dealerships for a range of brands, the details of which
are given herewith.
Subject has a strong, technically qualified and experienced work
force. All of this is coupled with a sound work culture backed by work ethics,
discipline and a commitment to serve all the customers till they are satisfied.
As
a final word the Founder Chairman would like to invite all customers to come
and visit our organisation and experience their services and products line up.
They
hope that the detailed company information will give an insight into their
company and its objectives.
Looking
forward to having a mutually rewarding business relationship.
Software Development
·
Aircraft Inventory & Maintenance
Management Systems
·
Pilot Log
·
Industrial Safety Management System
·
Industrial Machines Breakdown & Preventive
Maintenance
·
Traders/Manufactures Inventory & Invoicing
System
·
Automobile Spares & Parts Maintenance
System
·
QS & ISO Process Flow Documentation System
·
Contacts Management & Label Printing
System
·
Online Examination Software
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.41.96 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.65.82 |
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 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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 |
|