MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
KARTHIK BUSINESS MACHINES PRIVATE LIMITED |
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Registered Office : |
35, Mahatma Gandhi Road, Bangalore-560001, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.09.1992 |
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Com. Reg. No.: |
08-13521 |
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CIN No.: [Company
Identification No.] |
U51505KA1992PTC013521 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer for HP, Sony, Compaq and IGM |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 1900 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Scale of activity is limited. Payments are however reported as
usually made as per commitments. The company can be considered good for business dealings. |
INFORMATION
DECLINED BY
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Name : |
Mr. Uday Kumar |
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Designation : |
Director |
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Date : |
18.10.2008 |
LOCATIONS
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Registered Office : |
35, Mahatma Gandhi Road, Bangalore-560001, Karnataka, India |
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Tel. No.: |
91-80-25584493/ 41133826 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. S Udaya Kumar |
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Designation : |
Director |
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Address : |
35, Mahatma Gandhi Road, Bangalore-560001, Karnataka, India |
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Date of Birth/Age : |
31.12.1940 |
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Date of Appointment : |
09.09.1992 |
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Name : |
Mr. U Suresh Kumar |
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Designation : |
Director |
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Address : |
35, Mahatma Gandhi Road, Bangalore-560001, Karnataka, India |
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Date of Birth/Age : |
31.10.1969 |
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Date of Appointment : |
09.09.1992 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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S Udaya Kumar |
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510 |
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U Suresh Kumar |
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510 |
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Total |
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1020 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer for HP, Sony, Compaq and IGM |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C.T. Abraham Chartered Accountant |
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Address : |
313-314, Richmond Towers, 12, Richmond Road, Bangalore-560025,
Karnataka, India |
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Name : |
AJS and Associates Chartered Accountant |
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Address : |
313-314, Richmond Towers, 12, Richmond Road, Bangalore-560025,
Karnataka, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/-each |
Rs. 1.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1020 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.102
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 |
0.102 |
0.102 |
0.102 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.288 |
0.314 |
0.377 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.390 |
0.416 |
0.479 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.185 |
8.632 |
4.950 |
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TOTAL BORROWING |
3.185 |
8.632 |
4.950 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.010 |
0.016 |
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TOTAL |
3.575 |
9.058 |
5.445 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.599 |
2.790 |
1.237 |
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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 |
0.048 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.526
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7.426 |
2.050 |
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Sundry Debtors |
3.705
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3.761 |
1.803 |
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Cash & Bank Balances |
1.503
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1.445 |
0.764 |
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Other Current Assets |
0.000
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0.000 |
2.259 |
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Loans & Advances |
3.064
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1.903 |
0.000 |
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Total
Current Assets |
16.798
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14.535 |
6.876 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
15.511
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7.988 |
2.603 |
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Provisions |
0.359
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0.279 |
0.065 |
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Total
Current Liabilities |
15.870
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8.267 |
2.668 |
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Net Current Assets |
0.928
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6.268 |
4.208 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.575 |
9.058 |
5.445 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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179.236 |
129.297 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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179.236 |
129.297 |
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Profit/(Loss) Before Tax |
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0.095 |
0.081 |
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Provision for Taxation |
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0.121 |
0.145 |
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Profit/(Loss) After Tax |
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[0.026] |
[0.064] |
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Expenditures : |
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Depreciation & Amortization |
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0.639 |
0.466 |
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Other Expenditure |
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178.502 |
128.750 |
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Total Expenditure |
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179.141 |
129.216 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
[0.01]
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[0.05] |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.05
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0.06 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.49
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0.47 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.24
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0.19 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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48.86
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40.62 |
15.90 |
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Current Ratio (Current Asset/Current Liability) |
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1.06
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1.76 |
2.58 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile:
Subject is the
only Computer and Computer
Peripherals Company in Bangalore with the following Certifications /
Recognition’s
·
Compaq Flagship Retailer for Presario Home PC's Notebooks
and Peripherals
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Samsung's Brand Shop for Computer Parts, Monitors and Mobile Phones
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Compaq Registered Reseller for Desktops, Servers and
Notebooks
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Genuine Intel Dealer
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Accredited Reseller for HP Computers, Printers, Scanners, CD
Writers Etc.,
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Authorised Retailer and Authorised Service Outlet for Epson
Printers, Scanners Etc.,
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Canon Empowered Partner for Printers.
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Authorised Retailer for APC UPS.
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Authorised Dealer for UMAX Scanners, Xircom PCMCIA Cards
Iomega Zip and Jaz Drives.
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Authorised Retailer for Microsoft Software
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Authorised Dealer for D-Link Digital Home Products like
Modems, Web Camera, Digital Camera Etc.,
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Authorised Service Centre for TVSE and Lexmark Printers
In the Samsung Brand Shop they sell
1.Samsung TFT Monitors, CRT Monitors (14 to 21 ), Hard Disk
Drives, Floppy Disk Drives, Keyboards, Optical Disk Drives, Memories, Laser
Printers Etc.,
2.Upgrades of old Computers with attractive buy-back schemes.
3.Samsung range of Mobile Phones.
They have all the Samsung IT Products on Live Demonstration
at the Samsung Brand Shop. Please visit the Compaq and Samsung showrooms for an
exhilarating experience of all the IT Products.
They have been awarded the "Top Retailer award for the
year 2000 by Compaq. They have 15 Sales Engineers, 5 Service Engineers and a
total staff strength of 40.
They have the own office premises measuring 5000 sqft and
go-down space measuring 2000 sqft on M.G. Road, next to Hotel Oberoi, with
parking space for 25 Cars. They have the branches of KBM's Computer World at Margosa Road,
Malleswaram and CMH Road, lndiranagar.
Karthik
Electricals, established in the year 1977 are the authorised stockists for
Philips luminaires and lamps, L&T Switchgear and Crompton Greaves Fans. Karthik groups of companies are
celebrating their Silver Jubilee Year during 2001 - 2002. They have over 5000
customers in and around Bangalore.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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31 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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