MIRA
INFORM REPORT
|
Report Date : |
05.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAVEX COMPUTERS LIMITED |
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Registered Office : |
124-B, Maker Chambers III, Nariman Point, Mumbai
– 400021, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.02.1988 |
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Com. Reg. No.: |
11-46237 |
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CIN No.: [Company
Identification No.] |
U31909MH1988PLC046237 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS37240A |
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PAN No.: [Permanent
Account No.] |
AAACS5547 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturers, Dealers, Importers and Exporters of all kinds of
electronic goods, components, materials, sub-assemblies, instruments, devices
and systems. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 1019884 |
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Status : |
Very Good |
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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. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as 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. |
INFORMATION
DECLINED BY
|
Name : |
Mr. Ajmera |
|
Designation : |
Accounts Manager |
|
Date : |
06.10.2008 |
LOCATIONS
|
Registered Office / Factory / Head Office : |
124-B, Maker Chambers III, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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Tel. No.: |
91-22-22881616/1717 / 2279 9999 |
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Fax No.: |
91-22-22041656 / 2204 1656 |
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E-Mail : |
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Website : |
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Warehouse |
B-4, Mitul Industrial Estate, Village Valiv, Vasai Road, I. E. District, Thane – 401208, Maharashtra, India |
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Branches : |
Mumbai Office A/10, East West Industrial Compound, Andheri - Kurla Road, Sakinaka,
Andheri (E), Tel : 91-22 - 2859 1949 Tel : 91-22 - 2859
1950 E-Mail: mumbai@savexcomputers.com Gujarat Office : Ahmedabad ·
Subhash, No. 7, Ishawashyam Bungalows, Behind Shyamlal, Row House No.
5, Satellite, Ahmedabad – 380 015, Gujarat Fax. 91-79-26604714 / 26604719 ·
Bunglow No.51, Someshwara Bungalow II, Near Bidiwala Park, Satellite
Road, Ahmedabad - 380 015 Tel No.: 91-79 - 2692 4792 Baroda
104, Shivani Flats, Near Bank Of India,
Subhanpura Tel : 91-265 - 2321 430 E-Mail: baroda@computers.com
Bangalore Office
:- · No. 8, Mota
Chamber 9, Millers Road, Bangalore – 560 052, Karnataka, India Tel. 91-80-22267387 Fax. 91-80-22286434 E-mail. savexble@vsnl.com Kolkata Office
:- · 40-A, Ground
Floor, Bakul Bagan Road, Kolkata – 700 025, West Bengal Tel. 91-33-24559077 /
24744134 / 24744135 E-Mail. savex@cal2.vsnl.net.in ·
1/2, Harish Mukherjee Road, 2nd Floor, Raja A. N. Roy Mansion, Tel
: 91-33-2223 6006 Tel
: 91-33-2223 6008 E-Mail: kolkata@savexcomputers.com Chandigarh
Office : - SCO 34, Sector 33 D, Chandigarh – 160 047, Punjab Tel. 91-172-2382558 / 2621050 / 2621491 E-Mail. savexchd@sancharnet.in · 27, Conjeevaram,
Pachiappa Mudali Street, off Langs Garden Road, Pudupet, Chennai – 600 002,
Tamilnadu Tel. 91-44-228511141 /
28410208, 91-44-22230221 (Res.) Fax. 91-44-28588362 E-Mail: chennai@savexcomputers.com · Unit No. 1,
39/40 – B, 2nd Floor, Karakkat Road, Ernakulam, Kochi – 682 016,
Kerala Tel. 91-484-2377222 /
2377436 Fax. 91-484-2230221 E-mail. savex@md3.vsnl.net.in Coimbatore
Office :- · 186,V.K.K.Menon Road,New Sidhapudur, Coimbatore – 641 044. Tel : 422 - 2525054 E-Mail: coimbatore@savexcomputers.com
· Sabol Business
Comm Center, Selvam Building, 988, Thadagam Road, R. Spuram, Coimbatore – 641 002, Tamil Nadu Tel. 91-422-2472408 /
2475226 Fax. 91-422-2472966 E-mail. savexcoi@hclinfinet.com
· Ram Kumar
Arcade, 1st Floor, R. No. 2010, Chatribari Road, Guwahati – 781
001, Assam Tel. 91-361-2604291 / 648 E-mail. berliacompu@sify.com Ludhiana Office
:- · 2882, Shamsher
Lane, Premjit Road, Gurudev Nagar, Ludhiana – 141 001, Punjab Tel. 91-161-2771479 E-mail. savexldh@hclinfinet.com ·
# 2160, Street No. 12, Krishna Nagar, Ludhiana - 141 001 Tel No.: 0161 -
2771 479 E-Mail: ludhiana@savexcomputers.vcom
· B-62 A, Ground
Floor, Kalkaji, New Delhi – 110 019 Tel. 91-11-26291362 / 63 Fax. 91-11-26291364 E-mail. savexdel@vsnl.com ·
F-35/1, Okhla Phase Indl. Area Phase II, New Delhi - 110 020. Tel No.: 91-11 -
4161 6532 E-Mail: delhi@savexcomputers.com
Pune Office :- · 4 and 5, Hidayat
Building, Behind IBM, Pune College Road, Bhavani Peth, Pune – 411 042 Tel. 91-20-6458947 /
6451256 E-mail. savexpun@vsnl.com
· Shri Swami Samarth Warehousing, Godown No. 4, Gate No. 2324, Priyanka Nagri, Wagholi - 412207 Tel : 91-20 – 3952 5192 E-Mail: wagholi@savexcomputers.com Hyderabad Office
:- · Serve No. 181,
S. K. Reddy Complex, Chitta Reddy Colony, Tarband Cross Road, Secunderabad –
500 009, Andhra Pradesh Fax. 91-40-27818154 /
27899824 Pager – 9628-950346 E-Mail: hyderabad@savexcomputers.com Cochin Office :- 39/1653, Kalathilparambil Lane, Off. Chittor Road, Valanjambalam,
Cochin - 682 016. Tel No.: 91-484 - 4030560 Tel No: 91-484 – 4030561 E-Mail: cochin@savxcomputerts.com Noida Office :- E-40, Sector 8, Noida - 201 301.UttarPradesh Tel
: 91-120 - 4005 546 E-Mail: noida@savexcomputers.com Jaipur Office :- A-6, Bhagirath Colony, Near Chomu House Circle, C-Scheme, Jaipur - 302
001. Tel
: 91-141 – 5125 414 E-Mail: jaipur@savexcomputers.com Vasai
Office : B4, Mitul Industrial Estate, Village Valiv, Vasai Road, Vasai (E),
Thane–401 208. Tel
: 91-250 - 2455 766 E-Mail: vasai@savexcomputers.com Lucknow
Office :- 29-A, Ground Floor, Jopling Road, Lucknow - 226 001. Tel : 91-522 - 3241 458 / 522 - 2205 574 E-Mail: lucknow@savexcomputers.com
Surat Office:- Somnath Complex, 1st Floor, Guru Govind Nagar Soc., Opp Navyug Tel. Exchange,
Amidhara Wadi Rd., Above Reliance Fresh, Surat - 395 009. Tel No: 91-261 - 2782 807 E-Mail: surat@savexcomputers.com
Nashik Office :- Flat No.1, Ground Floor, Anugraha Apartment, T. A. Kulkarni Colony,
Sharanpur Road, Nashik - 422 005. Tel
:91-253 – 2311530 /
253 – 5604013 E-Mail: nashik@savexcomputers.com
Nagpur Office :- ·
Flat No. 1, Snehdeep Co-op. Housing Sty. Ltd., Plot
No. 18, Bharat Nagar, Amaravati Road, Nagpur - 440 001. Tel : 91-712 - 254 8441 E-Mail: nagpur@savexcomputers.com ·
Plot No. 23, Pande Layout, Khadgaon Road, Wadi, Tel : 91-712 - 254 8437 Indore
Office :- B-Block, Ground Floor, Malwa Tower, 10-Old
Palasia, A. B. Road, Tel
: 91-731 - 4009 440 E-Mail: indore@savexcomputers.com Raipur
Office :- C-10/Sector-2, Main Road, Near Balaji School, Devendra Nagar, Raipur
- 492 009. Tel
:91- 771 - 2582 251 E-Mail: raipur@savexcomputers.com Vijayawada Office C/o Dr. V. Ramaseshayya, 40-5-15, Tikkel Road, D. V. Manor Lane, Vijaywada - 520 010. Tel
: 91-866 - 6642 988 E-Mail: raipur@savexcomputers.com Dehradun Office 311, Pandit Wadi Road, Phase - 2, Dehradun - 248 007. Tel : 91-135 – 2771654 E-Mail: dehradun@savexcomputers.com Gurgaon Office :- House No. 152, Ground Floor Kirti nagar, Jharsha Road, Tel : 91-124 - 4271 363 E-Mail: gurgaon@savexcomputers.con Trivandrum Office
:- TC 11/1563 (2),North Cliff House Road, Devaswam Board Junction,
Kowdiar P O, Thiruvananthapuram - 695 003. Tel
: 91-471 - 3010 470 E-Mail:
Trivandrum@savexcomputers.com
Ranchi Office :- A-16, Ashok Vihar, Opp. - Road No.1, Ashok
Nagar, Argora, Ranchi - 834 002 Tel : 91-651 - 2244803 190/A, Plot No.31/32, Mohalla Boring Road,
Post- Sri Krishnapuri Tel : 91-612 - 3260455 No. 25, Adhimoolam Pillai, Agraham,
Madurai - 625001 Tel : 91-452 - 2626 060 E-Mail: madurai@savexcomputers.com 49-24-51/G2 & G2A Sri Pavan Estates, Madhura Nagar, Visakhapatnam
- 530016 Tel : 0891-2714875 E-Mail: visakhapatnam@savexcomputers.com
Shop No.2, Ground Floor,
Chauhan Complex & Estate (Pvt.) Ltd, Plot No 1, Sector II , Parwanoo – 173220 Tehsil –Kasauli,
Dist.-Solan Tel :91-1792 - 645 794 E-Mail: parwanoo@savexcomputers.com Bangalore Office :- 2-12-1006, Victory, Opp. Bejai Church Complex, Museum Road, Bejai,
Mangalore - 575 004. Tel : 91-824 - 4281 740 / 0824 - 4276 265 E-Mail: mangalore@savexcomputers.com Bhubaneshwar Office
:- A/135, Ground Floor, Saheed Nagar, Bhubaneshwar - 751007 Mobile No.: 91-9846530470 Guwahati
Office :- H/O Mr.M.M.Nath, ASEB Road, Near Manipur Bhavan., Opposite ASTC
Workshop, Ulubari, Guwahati - 781007 Tel : 91-361 - 2464 797 E-Mail:
guwahati@savexcomupters.com Kanpur Office:- Resident Sales Executive Tel : 91-9336411854 E-Mail: kanpur@savexcomputers.com Varanasi Office :- Resident Sales Executive Tel : 91-9335062034 E-Mail:
varanasi@savexcomputers.com
House No. 98/A, Gole Market, Gandhi Nagar,
Jammu -180004 Tel : 91-191 - 2430003 E-Mail: jammu@savexcomputers.com |
DIRECTORS
|
Name : |
Mr. Anil Ishwarlal Jagasia |
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Designation : |
Chairman Cum Managing Director |
|
Address : |
16, Soona Mahal, 143, Marine Drive, Mumbai
– 400020, Maharashtra, India |
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Date of Birth/Age : |
24.08.1960 |
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Qualification : |
B.E. |
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Experience : |
22 years |
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Date of Appointment : |
16.02.1988 |
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Previous
Employment |
Savex Corporation – Managing Partner (2
years) |
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Email : |
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Name : |
Mrs. Anuradha Anil Jagasia |
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Designation : |
Whole Time Director |
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Address : |
16, Soona Mahal, 143, Marine Drive, Mumbai
– 400020, Maharashtra, India |
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Date of Birth/Age : |
15.06.1962 |
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Date of Appointment : |
16.02.1988 |
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Name : |
Mr. Devang A. Pandya |
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Designation : |
Whole Time Director |
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Address : |
13, Vora Bhuvan, King Circle, Matunga,
Mumbai – 400 019, Maharashtra, India |
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Date of Birth/Age : |
05.06.1964 |
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Date of Appointment : |
23.10.2001 |
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Name : |
Mr. Jayant Goradia |
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Designation : |
Director
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Address : |
203, Asha Niketan, Baptista Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
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Date of Birth/Age : |
04.09.1960 |
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Date of Appointment : |
23.10.2001 |
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Email: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 27.09.2005)
|
Names of Shareholders |
No. of Shares |
|
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Mr. Anil Ishwarlal Jagasia |
3797300 |
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Mrs. Anuradha A. Jagasia |
800 |
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Mr. Deepak L. Dudhane |
800 |
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Mr. Raunak A. Jagasia |
200000 |
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Mr. Ravindra L. Dudhane |
800 |
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Mrs. Savitri I. Jagasia |
100 |
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Mr. Devang A. Pandya |
100 |
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Mr. Jayant Goradia |
100 |
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Total |
4000000 |
(As on 31.03.2007):-
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Category |
Percentage |
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Directors and relatives of directors |
100% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Dealers, Importers and Exporters of all kinds of electronic
goods, components, materials, sub-assemblies, instruments, devices and
systems. |
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Products : |
· Computers · Peripherals · Electronic goods · Components · Materials · Sub-assemblies · Instruments · Devices · Systems |
GENERAL
INFORMATION
|
Suppliers : |
·
Aditya Infotech Private Limited ·
Allion Computer Inc. ·
Lanbit India Private Limited ·
Redington India Private Limited ·
Samsung Electronics Company Limited (Display), (Indonesia), (Korea) ·
View Sonic International Corporation, (Malaysia) ·
Savex Enterprises |
|
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|
Customers : |
·
3 Com India Private Limited ·
Add-on Infotech Private Limited ·
BIIT Computers ·
Delstar Systems and Services ·
Eureka Forbes Limited ·
Gemini Infotech Private Limited ·
International Roofs Electronics Systems Private Limited ·
Kunbar Peripherals Private Limited ·
Lanbit Peripherals Private Limited ·
Mini Comp Limited ·
Novo Computers Private Limited ·
Pacific Infotech Private Limited ·
PCS Industries Limited ·
S. D. Computers Limited ·
Sujata Electronics Limited ·
Zenith Computers Limited |
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No. of Employees : |
200 |
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Bankers : |
· Bank of Baroda · Syndicate Bank · State Bank of
Hyderabad · IDBI Bank · CITI Bank, NA,
Bandra Kurla Complex, Bandra (East), Mumbai -400051, Maharashtra, India · Centurion Bank,
Mumbai, Indore · HDFC Bank,
Chennai, Coimbatore · Union Bank of
India, Nariman Point, Mumbai, Maharashtra, India · Union Bank of
India, Tardeo Branch, 251-B, Sethna House, Mumbai-400 007, Maharashtra. · Standard
Chartered Bank, 90, M G Road, Fort, Mumbai – 400001, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N. K. Karla and Associates Chartered Accountants |
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Address : |
Sai Chambers, 1st Floor, Opp. Gulmarg Co-operative Housing
Society, R. C. Marg, Chembur Naka, Mumbai-400 071, Maharashtra, India |
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Tel. No.: |
91-22-25293005/7 |
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Associates/Subsidiaries : |
· Savex
Enterprises 124-B, Maker Chambers III, Nariman Point, Mumbai – 400 006,
Maharashtra · Savex
Corporation Shop No. 19, Nicchaldas Market, Sindhi Society, Chembur, Mumbai – 400
071, Maharashtra · Clearpoint
Electronics Private Limited B/3, Mitul Industrial Estate, Villge Valiv, Vasai Road (East), Thane,
Maharashtra · J’Sons
International 18, Soona Mahal, 143, Marine Drive, Mumbai – 400 020, Maharashtra,
India · Savex Care
Products Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
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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 |
|
|
|
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|
1] Share Capital |
40.000 |
40.000 |
40.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
214.971 |
174.837 |
139.397 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
254.971 |
214.837 |
179.397 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
517.468 |
157.446 |
15.424 |
|
|
2] Unsecured Loans |
50.199 |
69.330 |
56.320 |
|
|
TOTAL BORROWING |
567.667 |
226.776 |
71.744 |
|
|
DEFERRED TAX LIABILITIES |
0.508 |
0.432 |
0.714 |
|
|
|
|
|
|
|
|
TOTAL |
823.146 |
442.045 |
251.855 |
|
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|
|
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APPLICATION OF FUNDS |
|
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|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
17.336 |
11.914 |
12.117 |
|
|
Capital work-in-progress |
3.512 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.091 |
0.089 |
0.085 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
260.410
|
109.991
|
42.302 |
|
|
Sundry Debtors |
506.798
|
303.620
|
153.278 |
|
|
Cash & Bank Balances |
9.352
|
10.832
|
128.183 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
111.785
|
64.490
|
38.539 |
|
Total
Current Assets |
888.345
|
488.933
|
362.302 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
21.592
|
14.281
|
83.810 |
|
|
Provisions |
64.546
|
44.610
|
38.839 |
|
Total
Current Liabilities |
86.138
|
58.891
|
122.649 |
|
|
Net Current Assets |
802.207
|
430.042
|
239.653 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
823.146 |
442.045 |
251.855 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
4415.081 |
2879.632 |
2442.748 |
|
|
Other Income |
1.831 |
1.701 |
1.732 |
|
|
Total Income |
4416.912 |
2881.333 |
2444.480 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
65.620 |
59.998 |
55.089 |
|
|
Provision for Taxation |
22.749 |
21.822 |
20.181 |
|
|
Profit/(Loss) After Tax |
42.871 |
38.176 |
34.908 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Administrative Expenses |
4238.281 |
2746.047 |
2322.485 |
|
|
Raw Material Consumed |
7.579 |
35.737 |
37.906 |
|
|
Salaries, Wages, Bonus, etc. |
30.730 |
28.448 |
15.262 |
|
|
Interest |
15.016 |
5.998 |
4.768 |
|
|
Power & Fuel |
1.107 |
1.189 |
1.372 |
|
|
Depreciation & Amortization |
4.043 |
3.916 |
3.050 |
|
|
Other Expenditure |
54.536 |
NA |
4.548 |
|
Total Expenditure |
4351.292 |
2821.335 |
2389.391 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.97
|
1.32
|
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.49
|
2.08
|
2.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.24
|
11.97
|
14.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.56
|
1.32
|
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.31
|
8.30
|
2.95 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
·
Furniture and Fixture
·
Electronic Equipments
·
Cellular Phone
·
Cycle
·
Electronic Typewriter
·
Fax machine
·
Furniture and Fixtures
·
Gala at Vasai
·
Generator
·
Page
·
Xerox machine
·
Computers
·
Premises at Mahape
·
Motor Cycle.
Form 8:-
|
Corporate
identity number (CIN) Foreign company registration number |
U31909MH1988PLC046237 |
|
Name of the
Company |
SAVEX COMPUTERS LIMITED |
|
Address |
124-B, Maker Chambers III, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
This form is for |
Modification of Charge |
|
Type of Charge |
Book Debts Movable Property
(Not being pledge) Floating Charge |
|
Particulars of
the charge holder |
Standard Chartered Bank 90, M. G. Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Supplemental
Agreement of Hypothecation of Current and Movable Assets |
|
Date of the
instrument creating or modifying the charge |
15.03.2007 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: Invoice
Financing/ Letter of Credit/ OD/ Working Capital Demand Loan- Interests- At
the rate as negotiated with the agreed by the Bank OD/ Working Capital Demand
Loan- shall be payable on monthly rest. Terms of
Repayments: Invoice
Financing: Tenor – Max upto 59 days Letter of Credit
– Maximum upto 59 days OD: Tenor – One
Days Working Capital
Demand Loan - Tenor – Maximum upto 29 days Margin: As applicable, if
any Extent and
operation of the charge: Hypothecation by
way of first charge to the Bank on: All the present
and future of the movable properties of the borrower All the present
and future book debts, outstanding moneys receivable claims and bills All the present
and future stock in trade (As more
described in the Agreement attached herewith) |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation by
way of first charge to the Bank on: All the present
and future of the movable properties of the borrower All the present
and future book debts, outstanding moneys receivable claims and bills All the present
and future stock in trade (As more
described in the Agreement attached herewith) |
|
Particular of the
present modification |
By way of present
modification, the charge amount enhanced from Rs.120.000 Millions to
Rs.150.000 Millions other terms and conditions remain the same. |
BUSINESS
The company is incorporated to carry on the business in manufacturers,
dealers, importers and exporters of all kinds of electronic goods, components,
materials, sub-assemblies, instruments, devices and systems.
It also acts as consultants to electronic industries and also undertakes
Research and Development activities and sells the know-how developed on
suitable terms both in India and abroad
The company is one of the National Distributors for the
leading International I.T. Company Samsung Electronics for marketing their
products in India.
The company also represents other brands like Viewsonic, Lanbit, 3 Com
and US Robotics. The company is marketing colour monitors, printers, systems,
modems, keyboards, hard disk drives, floppy disk drives and other computer
peripherals.
Currently the company has 12 branches spread geographically across the
nation to provide a good national network. The company intends to open a few
more branches for the coming year. The company will add additional products
like thin client, motherboards, CPU’s and other essential components. The
company will embark and focus in development of Software.
The company’s principles are based on providing and distributing
products 11 relevant to the product usage life cycles and need of the computer
user.
From a modest beginning as a PC Relating and Peripheral distributor
company in 1986, they had continuously innovated system strategies, making the
company most suitable partner of choice. Dataquest Channel had rated the
company in the year 1 as one of the Top 5 IT Distribution companies in India
with sales of Rs.1950 millions; it had a growth rate much ahead of the computer
industry. They had been appreciated and recognised nationally as customer
oriented, efficiently managed and a channel friendly distribution company.
Starting as a distributor for Samsung Electronic Company, Korea, and
company had similar agreements with hardware companies Mercury, U. S. Robotics,
Viewsonic and 3com in India.
Unlike other distribution companies, it ensures that its second channel
members are protected by limiting the number of its channel members in a
designated region. Having over 14 offices through out India, the company
ensures all parts of the country are for their hardware requirements.
The company had more than 1600 channel member spread all over India.
Excellent penetration in class ‘C’ towns had helped the smaller to prosper,
thus ensuring future growth and success for company in new millennium.
website details
The company was founded in 1986 as subject by Mr. Anil Jagasia, and later incorporated as Subject in 1988.They are today among the six largest Information Technology distributors in India. (Ref: Dataquest India)
With its headquarters in Mumbai, and 31 sales offices and stock locations (and growing) spread across the country, subject is well poised to take on the challenge of being a potent force in Information Technology Distribution.
With over two decades of expertise and experience in Distribution that yield better reseller leads, subject also offers its Vendors access to more than 5000 Channel Partners, Retailers, Corporate resellers, VARs and System Integrators.
Their core competencies in distribution are, better Logistics, efficiently monitored Inventory management, flexible credit financing for dealers, a national channel reach and an excellent reseller account management system.
Unlike other large Multinational distributors who have their 'own axe to grind', subject has always worked together with Vendors to help them implement their plans for the Indian market.
Addressing the SMB market effectively is currently their key agenda. Their endeavor is to focus on each individual channel member's requirement, especially when the customer needs solutions and not just boxes, on schedule and within budget.
Their efficient credit evaluation cell continuously corroborates the financial requirements of the channel members and is able to quickly resolve any ad hoc credit or deal financing requirement.
Subject has always strived to continually discover new ways to take costs out of the supply chain. Improved business processes have helped the company operate efficiently, sometimes even on wafer thin margins.
Localized expertise and knowledge is the driving power in their I.T. supply chain solutions. Other than being known in India for their domestic logistics finesse, Subject also offers a variety of business development services, like supply management, product handling, and retail program management.
Their business continues to evolve based on ever-changing market conditions. Willingness to embrace change is the key to their continued success. They at subject continually innovate their order management and delivery systems to improve customer satisfaction, ensuring growth and higher profitability for their business partners and shareholders.
press releases
Acer appoints Savex
Computers as Distributor for Monitor Business
9/30/2008
Acer India has signed on Savex Computers as a new national distributor exclusively for their monitor business. Acer has recorded a market share of 20.1 per cent in Q2 2008, according to the latest report by IDC, almost doubling their market share from Q2 2007 which was 12.8 per cent.
S. Rajendran, Chief Marketing Officer, Acer India, said, "The tie-up with
Savex Computers Ltd. is a testimony to our flourishing monitor business in
India. Our Widescreen monitor business has grown dramatically in the last one
year, almost doubling our market share in India. This is a wonderful
accomplishment for the Acer team. By partnering with Savex Computers to
increase our distribution across the country, we hope to continue this growth
trend through H2 2008 as well."
Jayant Goradia, CEO, Savex Computers Ltd., "We are pleased to be in
partnership with brand Acer, the fastest-growing PC brand globally. With our
focussed approach, extensive resources and market experience we are all set to
further Acer's penetration in the Indian monitor market. Through this
partnership, we look forward to leveraging Acer's innovative technology and
help the largest brand in the widescreen TFT market increase its reach across
the country to address emerging opportunities."
Capitalizing on the expertise of Savex Computers to address the growing business volumes in the monitor market in the B, C & D category cities, Acer plans to scale its operations to the next level for their growing monitor business in India. With over 40 Sales offices in India, the tie-up with Savex Computers is designed to increase access and provide additional resources for Acer's channel network to address the growing demand for Acer products in the monitor market.
Savex Computers has a cost-effective and finely tuned logistics operation using
specialized regional transporters that will further help Acer to increase its
bandwidth and increase the availability of Acer's LCD monitors in the T2 and T3
cities across India.
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.46.88 |
|
UK Pound |
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.64.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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/normal. |
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 |
|