MIRA
INFORM REPORT
|
Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASHRAM COMPUTER
CONSULTANCY SERVICES PRIVATE LIMITED |
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Registered Office : |
102, Brigade MM Annexe 1st Floor, K R. Road, Opp. Kiet
Polytechnic, 7 BLK Vijay Nagar, Bangalore – 560011, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15-06-1992 |
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Com. Reg. No.: |
08-13241 |
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CIN No.: [Company
Identification No.] |
U74140KA1992PTC013241 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA01488E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Marketing of Computer
Hardware of well Known Brands. |
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 15000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well
established company having satisfactory track. Trade relations are fair. Financial
position is satisfactory. Payments are correct and as per commitments. The
company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
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Date : |
28.07.2008 |
LOCATIONS
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Registered Office : |
102, Brigade MM Annexe 1st Floor, K R. Road, Opp. Kiet
Polytechnic, 7 BLK Vijay Nagar, Bangalore – 560011, Karnataka, India |
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Tel. No.: |
91-80-26763430 |
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Mobile No.: |
91-9341151577 |
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Fax No.: |
91-80-26764942 |
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E-Mail : |
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Website : |
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Head Office : |
K.R Road, 102
Bridge-MM Annexe, 1st Floor, Opp. K.I.E.T. Polytechnic, Jayanagar
7th Block, Bangalore- 520082. |
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Tel. No.: |
91-80-26763430 |
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Mob No.: |
91-9341151577 |
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Fax No.: |
91-80-26764942 |
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E-Mail : |
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Branch : |
1-A”Guru Anugraha
Apartments” Mukti Enclave, Manapakkam, Chennai-600116, |
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Tel. No.: |
91-44-52081939 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Manoj Kumar
Agarwal |
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Designation : |
Managing Director |
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Address : |
A-502, Adarsha
Garden, Jayanagar , 8th Block, Bangalore- 560082, Karnataka,
India. |
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Date of Birth/Age : |
01-09-1963 |
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Date of Appointment : |
15-06-1992 |
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Name : |
Miss. Rekha
Agarwal |
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Designation : |
Director |
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Address : |
A-502, Adarsha
Garden, Jayanagar , 8th Block, Bangalore- 560082, Karnataka,
India. |
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Date of Birth/Age : |
24-08-1968 |
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Date of Appointment : |
25-09-2001. |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2007
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Names of Shareholders |
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No. of Share |
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Mr. Chandi Prasad
Tiwari |
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200 |
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MR. Durga Prasad
Tiwari |
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200 |
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Smt. Manju Tiwati |
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200 |
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Smt. Kesari Devi
Agarwal |
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650 |
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Mr. Ishwar Prasad
Agarwal |
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4200 |
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Mr. Manoj Kumar
Agarwal |
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350 |
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Smt.Rekha Agarwal |
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200 |
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Smt. Manju
Agarwal |
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200 |
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Miss. Minor Ramya
Agarwal |
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200 |
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Smt.Sarita
Chudhary |
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200 |
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Mr.Minor Nitesh
Agarwal |
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200 |
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Mr. Ishwar Prasad
Agarwal (HUF) |
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150 |
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Mr. K. N. Agarwal
(HUF) |
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150 |
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Mr.Minor Abhishek
Agarwal |
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100 |
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Miss. Dolly
Agarwal |
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50 |
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Mr. Pankaj Kumar
Agarwal |
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50 |
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Mr. Vijay Kumar
Agarwal |
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100 |
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Smt.Manbhari Devi
Agarwal |
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250 |
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Mr. Mahaveer
Agarwal |
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100 |
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Mr. Vinod Kumar
Agarwal |
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150 |
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Mr.Rajendra Singh
Rathod |
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50 |
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Sirmathi Rathod |
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50 |
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Mr. Sharad Hegde |
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50 |
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Mr. Abhay Baheli |
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50 |
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Mr. Prasanna B.
G. |
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50 |
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Mr. Shabir Bakshi |
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50 |
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Mr. Praveen
Dagdee |
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50 |
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Mr. Kannan
Varadarajan |
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50 |
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Mr. S.
Rajagopalan |
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50 |
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Mr. Ajay Bhatter |
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50 |
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Mr. Parthasarathi
Rajaopalachari |
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150 |
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Total |
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8550 |
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AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Marketing of
Computer Hardware of well Known Brands. |
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GENERAL
INFORMATION
|
Suppliers : |
¶
Academy For
corporate Excellence ¶
Ample
Technologies (Private) Limited Ahmedabad ¶
Fina
Infosystems Limited ¶
ICON Design
Automatio Private Limited ¶
Ingram Micro
India Limited Ahmedabad ¶
K.C.P.
Technologies Limited ¶
Micrographics
Ahmedabad ¶
Quebec
Computring Ahemdabad ¶
Quebec
Computering Bangalore ¶
Redington
India Limited Ahmedabad ¶
Redington
India Limited Bangalore ¶
Siri
Infotech Services ¶
Sonata
Information Technologies Limited Ahmedabad ¶
Tech Pacific
(India) Limited Ahmedabad ¶
Unistal
Systems Private Limited ¶
Vistch
Information Systems Private Limited |
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Customers : |
·
Seaton India
IT Private Limite ·
Cisco
Systems India Private Limited ·
IBM Global
Sevices India Private Limited ·
IBM India
Limited ·
Infosys Technologies
Limited ·
Mayur
Chemical Industries Private Limited ·
Bachal
Software Limited ·
Centre for
Artificial Intellegense and Robotics ·
Easun
Reyrolle Limited ·
Liqwidkrysfal
Private Limited ·
Netsoft
Systems & Networks ·
Taxes
Instruments (India) Limited ·
William Penn ·
Aveva
Information Technology India Private Limited ·
Aztec
Software Technology Services Limited ·
Hindustan
Aeronautics Limited ·
Jindal
Thermal Power Company Limited ·
Sap Labs
India Private Limited ·
Symantec
Singapore Private Limited ·
Acusis Software
India Private Limited ·
Global E :
Business Operation Private Limited ·
Hindustan
Lever Limited ·
Iseva
Systems Private Limited ·
NISCO
Private Limited ·
Orane
Technologies Private Limited Drs ·
Sharp
Software Development India Private Limited ·
Abacus
Marketing ·
Abhinav
Systch Private Limited ·
Ace Infosys ·
Arman
Marketing Private Limited ·
C Net ·
Computer
Citi ·
Computer
Planet ·
Creative
Computer world ·
Delta
Technologies ·
Educomp
Datamastics Limited ·
Gangarams
Infotech ·
Gem Systems ·
Glasgow
Computers ·
Keshri Infotech
Dr ·
Media Trend
I.T. Drs ·
Mitesh
Systems ·
Mitesh
software Private Limited ·
Niramal
Infotech Private Limited ·
Pac Soft
Solutions Limited ·
R Soft
Solutions ·
Siri
Infotech Services ·
SK
International Amd ·
Sogo
Computers ·
Sycom
Infotech (Private ) Limited ·
Department
Of Posts ·
Astron
document Management Private Limited ·
Costal
Trading Technologies (India) Private Limited ·
Gensis
Computer ·
Getwin Data
Products ·
Nacoda
Computer Technology ·
Navkar
Computers Spares Dr-Combatore ·
Navkar
Computers Chennai ·
Pragati cvomputer
Limited ·
Prognet
Technologies (Private ) Limited ·
Safe Zone
Secure Solution ·
Versatite
Card Technologies (Private) Limited |
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No. of Employees : |
About 30 |
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Bankers : |
H.D.F.C. Bank H.S.B.C. Bank ICICI Bank
Current Account ICICI Bank OD State Bank of
Mysore – Chennai Vijaya Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/S B.P Rao &
Company Chartered
Accountant |
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Address : |
No. 5,
Poornaprasad Road, Highground, Bangalore, 560001 |
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Tel. No.: |
91-80-22200200/201 |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Share |
Rs. 100/- each |
Rs. 2.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8550 |
Equity Shares |
Rs. 100/- each |
Rs. 0.855 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 |
0.855 |
0.855 |
0.855 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.100 |
4.179 |
3.274 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.955 |
5.034 |
4.129 |
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LOAN FUNDS |
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1] Secured Loans |
1.547 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.324 |
0.899 |
1.208 |
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TOTAL BORROWING |
2.871 |
0.899 |
1.208 |
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DEFERRED TAX LIABILITIES |
0.025 |
0.000 |
0.039 |
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TOTAL |
8.851 |
5.933 |
5.376 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.469 |
0.442 |
0.299 |
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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 |
0.005 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.514 |
11.151 |
4.827 |
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Sundry Debtors |
13.415 |
15.257 |
14.577 |
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Cash & Bank Balances |
4.169 |
0.787 |
1.871 |
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Other Current Assets |
1.543 |
0.980 |
0.636 |
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Loans & Advances |
0.000 |
0.000 |
0.020 |
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Total
Current Assets |
27.641
|
28.175 |
21.931 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.103
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21.661 |
16.088 |
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Provisions |
1.157
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1.028 |
0.766 |
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Total
Current Liabilities |
19.260
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22.689 |
16.854 |
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Net Current Assets |
8.381
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5.486 |
5.076 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.851 |
5.933 |
5.376 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover [including other income] |
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80.384 |
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Profit/(Loss)
Before Tax |
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1.611 |
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Provision for
Taxation |
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|
0.630 |
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Profit/(Loss)
After Tax |
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|
0.981 |
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Export Value |
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NA |
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Import Value |
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NA |
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Total Expenditure |
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78.773 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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NA |
1.22 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
2.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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NA |
7.24 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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NA |
0.39 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.95
|
4.68 |
4.37 |
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Current Ratio (Current Asset/Current Liability) |
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1.43
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1.24 |
1.30 |
LOCAL AGENCY
FURTHER INFORMATION
Subject has its Registered office at Bangalore and a branch office at Chennai. It was founded in the year 1992 with the corporate mission of catering to the software and hardware requirements of all segments of industry. They have been re-structuring their selves constantly, so as to add more value to the services they provide to their clients.
Their software offering covers the entire range of software products, starting with Desktop Products, Application Software, Development Tools, Web-based Development Tools, Multimedia & Graphics, set-up Utilities, HELP Authoring Tools, Active-X Tools, and Anti-Virus Software.
To cater to the software requirements of their customers they have partnered with leading brands viz.: Microsoft, Oracle, Sun Microsystems, Novell, Macromedia, Adobe, Corel, Ulead, SCO, IBM, Netscape Symantec, Borland, Computer Associates, Network Associates, Trend Micro, BOI Powertools, Install Shield, RoboHelp, MKS, Wise Solutions, Compuware, Hummingbird, Beritas, Legato, Citrix, Checkpoint, RSA, ISS, Quest and other third party tools.
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.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|