MIRA
INFORM REPORT
|
Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
QUADSEL SYSTEMS PRIVATE LIMITED |
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Registered Office : |
No. 4 Shanthi Building, 2nd Floor, Avenue Road, Nungambakkam,
Chennai – 600 034, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.04.1995 |
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Com. Reg. No.: |
18-031143 |
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CIN No.: [Company
Identification No.] |
U72300TN1995PTC031143 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEQ02019D |
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PAN No.: [Permanent
Account No.] |
AAACQ0129P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in Computer
Hardware |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
This time, management denied business and financial details. Subject is an established company in its field. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
No. 4 Shanthi Building, 2nd Floor, Avenue Road,
Nungambakkam, Chennai – 600 034, Tamil Nadu, India |
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Tel. No.: |
91-44-28205161 / 28205767 |
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Mobile No.: |
91-9841016631 |
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Fax No.: |
91-44-2826 5343 / 2825343 |
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E-Mail : |
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Website : |
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Corporate
Office : |
Old No. 9, New No.
4, Avenue Road, Shanthi Building, First Floor, Nungambakkam, Chennai –
600034, Tamil Nadu, India |
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Tel. No.: |
91-44-2820 5161 / 2820 5767 |
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Mobile No.: |
91-9841016631 |
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Fax No.: |
91-44-2826 5343 |
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E-Mail : |
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Website : |
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Administrative Office : |
29/11, Lakshmi Colony, North Cresent Road, Chennai 600017, Tamilnadu,
India |
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Tel. No.: |
91-4428205161 / 28205767 |
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Fax No.: |
91-44-28265343 |
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Factory : |
37/3
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Tel. No.: |
91-44-28205111 /
28205767 / 28265343 |
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Mobile No.: |
91-9841016631 |
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Fax No.: |
91-44-28265343 |
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E-Mail : |
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Website : |
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Branches: |
Hyderabad Address: Plot
No. 106, Jyothi Colony, No.108, Bazar Road, Trimulgherry, Secunderabad - 500
009, India Phone : 040 -
2774 3722 E-mail: marketing.hyd@quadsel.in Bangalore Trivandrum Address: "Surabhi", TC 4/501-1, House No.2, Sree
Vilas Lane, Kowdiar PO, Trivandrum -
695 003, India |
DIRECTORS
|
Name : |
Mr. Girish
Madhavan |
|
Designation : |
Director |
|
Address : |
17,
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
27.08.1969 |
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Date of Appointment : |
27.11.1995 |
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Name : |
Mr. Dhanamani
Madhavan |
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Designation : |
Director |
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Address : |
17,
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
06.11.1935 |
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Date of Appointment : |
27.04.1995 |
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Name : |
Mr. Ramesh Girish
Mdhavan |
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Designation : |
Director |
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Address : |
17,
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
08.12.1979 |
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Date of Appointment : |
05.04.2001 |
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Name : |
Mrs. Reshma Girish Madhavan |
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Designation : |
Director |
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Date of Birth/Age : |
18.12.1972 |
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Date of Appointment : |
05.04.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
|
Names of
Shareholders |
|
No. of Shares |
|
Mr. Girish
Madhavan |
|
500 |
|
Mr. Dhanamani
Madhavan |
|
500 |
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Equity Share
Break-up [As on 31.03.2007] |
|
Percentage of
Holding |
|
Directors or relatives of the Directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in
Computer Hardware |
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Products : |
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GENERAL
INFORMATION
|
Customers : |
Manufacturing v Araham Plastics v Bmf Beltings
Limited v Durr India
Private Limited v Dujodwala
Products Limited v Dhandapani
Exports v Fenner India
Limited v John Crane
Engineered Sealing Systems Limited v Kothari Petro
Chem's Limited v Kothari Sugars
and Chemicals Private Limited v Nok-Freudenberg v Phc Manufacturing
Private Limited v Rmc Readymix (
India ) v Reliance
Industries Limited v Reliance Power
Limited v Reliance Infocom v Himachal
Futuristic Communications Limited v Bharati Infotel Limited(Airtel)
v Soft Beverages v IGP Engineers v Oriflame India
Private Limited v Hindalco
Industries Limited v Foster Wheeler v National Oxygen v Kappa Electricals
v
Colambia Sports Software v Akshaya Software v Technologies
Limited., v Blue Shift India
Limited v California
Software Limited v Insyst Business
Solutions v Rajasri Systems
Private Limited v Pride Solutions v Object Frontier
Software Private. Limited v Calfornia
Advanced Management Services Private. Limited v Sudhan Software
Solutions v Cygnus Software
Private Limited v Value Source
Technologies v Gamzen Software
Private Limited v
Macmillan India Limited Financial Services v I I T Capital
Services Limited v Kothari Pioneer
Amc Limited v Prema Swaroopa v
The Investment Trust Of India Logistics v Agil Freight Logistics
Private Limited v Skypak Couriers v Overnite Express
Limited v
A.S. Transport Limited Others v
Mafoi
Management Consultants Limited v
Radha Park
Inn International v
The Times Of
India Group v
Business
Intelligence Unit (Ril) v
H.C Kothari
Group Of Company's v
World Vision
India v
Vikas
Publications Limited v
Alcatel
Limited v
South India
Corporation v
(Agencies)
Limited v Sify v Gemini TV Private
Limited v Mrf Limited v Meenakshi College
v Gupta and Company
v Biomines Research
v Solutions
Private. Limited v Vinayaka It Park v Cambro India
Limited v Karvy Consultants
Limited v
ICICI Infotech |
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Bankers : |
·
Indian
Overseas Bank Nungamabkkam Branch, Nugambakkam, Chennai - 600034, Tamilnadu, India ·
UCO Bank Puraawalkam Branch, No. 14, Chennai 600007, Tamilnadu, India ·
Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sudhindran and Company Chartered Accountants |
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Address : |
G/1, Kesari Kuteeram No. 27, West Cott Road, Royapettah, Chennai
600014, Tamilnadu, India |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.200 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.924 |
1.466 |
1.111 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.024 |
1.566 |
1.211 |
|
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
6.375 |
0.335 |
0.426 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.375 |
0.335 |
0.426 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
.0.000 |
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TOTAL |
8.399 |
1.901 |
1.637 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.249 |
0.996 |
1.158 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.500 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.061 |
0.039 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
10.946
|
7.546 |
1.836 |
|
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Sundry Debtors |
75.967
|
19.724 |
12.298 |
|
|
Cash & Bank Balances |
1.173
|
0.428 |
0.575 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
2.271
|
0.768 |
1.205 |
|
Total
Current Assets |
90.357
|
28.466 |
15.913 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
86.318
|
27.122 |
14.641 |
|
|
Provisions |
0.450
|
0.478 |
0.793 |
|
Total
Current Liabilities |
86.768
|
27.600 |
15.434 |
|
|
Net Current Assets |
3.589
|
0.866 |
0.479 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.00 |
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TOTAL |
8.399 |
1.901 |
1.637 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
265.276 |
157.254 |
73.709 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
265.276 |
157.254 |
73.709 |
|
|
|
|
|
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|
Profit/(Loss) Before Tax |
0.802 |
0.648 |
0.307 |
|
|
Provision for Taxation |
0.345 |
0.292 |
0.134 |
|
|
Profit/(Loss) After Tax |
0.457 |
0.356 |
0.173 |
|
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Expenditures : |
|
|
|
|
|
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Depreciation & Amortization |
0.303 |
0.290 |
0.194 |
|
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Other Expenditure |
264.171 |
156.316 |
73.208 |
|
Total Expenditure |
264.474 |
156.606 |
73.402 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.17
|
0.23 |
0.23 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.30
|
0.41 |
0.42 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.84
|
2.19 |
1.80 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.41 |
0.25 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
46.01
|
17.84 |
13.09 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.03 |
1.03 |
LOCAL AGENCY FURTHER
INFORMATION
Form 8 :-
|
Corporate
identity number of the company |
U72300TN1995PTC031143 |
|
Name of the
company |
QUADSEL SYSTEMS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
37/3
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu |
|
This form is for |
Creation of
charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
UCO Bank Puraawalkam Branch,
No. 14, Chennai 600007, Tamilnadu, India |
|
Nature of
instrument creating charge |
Hypothecation of
goods to secure a demand cash credit |
|
Date of
instrument Creating the charge |
24.04.2006 |
|
Amount secured by
the charge |
Rs. 2.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate of 1.5% p.a. below PLR minimum of 9.5% with monthly rests. |
|
Description of the
property charged indicating whether it is a charged on |
Hypothecation by
way of first charge in favour of UCO Bank, Purasawalkam Branch, Chennai on
all the companies stocks of computers, Peripherals, Equipments, Spares stored
and to be stored at old no. 9 new no. 4 Avenue Road, Shanthi Building, First
Floor, Nungambakkam, Chennai 600034, as security to secure the present
sanctioned cash credit limit of Rs. 2.500 Millions together with interest,
costs, charges and all other expenses which may be debited to the said
account from time to time. |
|
Particulars of
the present modification |
Hypothecation |
Buyers and
commission agents for computers and peripherals. Also they are software and
hardware consultants.
AS PER WEBSITE
Subject is a recognized leader in designing and implementing
comprehensive IT solutions in India. Developing a fully operational computing
environment requires expertise in planning, designing and implementing
solutions. For over 10 years, subject have effectively established and delivered
solutions that provide real business value to the customers.
In today's challenging economic environment, IT managers
increasingly have to do more with constrained resources. The company
offers a unique blend of practical and innovative solutions that provides
high-value, leading-edge solutions designed for the realities of everyday
business.
ABOUT
THE COMPANY
Subject was established in
early 1994 with the main objective of providing open system Multi-Vendor
Networking Solutions. Over the years, subject has succeeded in winning recognition
in India for its technical excellence and professional services.
The company is now widely renowned for its
expertise in areas like WAN, LAN
and System Integration.
It goes the distance to give the customer innovative and
customized solutions for expanding the size, scope and capacity of the
networks, while reducing cost and complexity.
Integrated
Solutions for a Concrete Setting
The company is a recognized leader in designing
and implementing comprehensive IT solutions in India. Developing a fully
operational computing environment requires expertise in planning, designing and
implementing solutions. For over 10 years, subject have effectively established
and delivered solutions that provide real business value to the customers.
In today's challenging economic environment, IT
managers increasingly have to do more with constrained resources. This means
looking for smarter ways to use the network while managing the demands of
users, applications and limited budgets. Subject offers a unique blend of
practical and innovative solutions that provides you with high-value,
leading-edge solutions designed for the realities of everyday business
IT
SERVICES
A Computer Network has
a complex makeup, comprising hardware and software components from many
sources. The process of systems integration is the optimization of these
disparate vendors and components toward the construction of a seamless
operation.
Subject has trained
engineers and support personnel who are experienced and proficient in following
IT environments:
v
Wide Area Networks
v Local Area Networks
v Data Communication
v System Integration
v Network Administration
Service
Offered:-
- Installation of Network Systems
- COMPAQ
- HP
- IBM
- SUN SPARC
- HP UX
- HCL)
- Installation of Software
- Microsoft Windows 2003 Server /
Windows 2000
- Microsoft Windows 98/ XP Home/ XP
Professional
- Novel Netware 4.11- 6.5
- SCO Unix, TCP / IP & LINUX
- Connectivity's with
- IBM AS – 400
- IBM RS – 6000
- TANDEM
- HP UNIX & LINUX SERVERS
- SILICON GRAPHICS
- Installation of Network Printers
and Modems
- HP
- EPSON
- WIPRO
- DAX
- ZYXEL
- Consultancy
for System Implementation and Configuration
- Maintenance
of Systems
- AMC / LMC / FACILITY MANAGEMENT
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. 42.79 |
|
UK Pound |
1 |
Rs. 85.04 |
|
Euro |
1 |
Rs. 67.34 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
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 |
|