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MIRA
INFORM REPORT
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Report Date : |
18.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VALUE POINT SYSTEM PRIVATE LIMITED |
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Registered Office : |
66, 4th
Cross, Kaveri Layout, Thavarekere Main Road, Bangalore – 560 029, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.04.1996 |
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Com. Reg. No.: |
08-20289 |
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CIN No.: [Company
Identification No.] |
U30007KA1996PTC020289 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRV00753E |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
Trader for computer
and computer parts and also provide services for HP |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 200000 |
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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 a well
established company having fine track. Financial position is good. The
company is doing well. Payments are correct and as per commitments. The company can be considered
good for normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Raghavendra Padya |
|
Designation : |
AG Min Fianance |
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Date : |
17.10.2008 |
LOCATIONS
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Registered Office : |
66, 4th Cross,
Kaveri Layout, Thavarekere Main Road, Bangalore – 560 029, Karnataka, India. |
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Tel. No.: |
91-80-55266000 |
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Fax No.: |
91-80-55266001 |
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E-Mail : |
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Website : |
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Area : |
1800 sq ft |
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Location : |
Rented |
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Corporate Office : |
No.66, Opp Oracle Lexington, St. Johns Wood Road, Koramangala, Bangalore – 560 029 Tel
No : 91-80-66266000 Fax No : 91-80-66266001 Service
: 91-80-66266100 |
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Branch : |
Located at : Chennai 1st
Floor, 53/32, Elite Tower, North Usman Road, T. Nagar,
Chennai - 600 071 Tel
no : 91-44-42555531 E-Mail
: sales@valuepointsystem.com management@valuepointsystems.com
Hyderabad No 6-3-346/1, 1st
Flor-B, Road No.1, Banjara Hills, Hyderabad – 500
034 Tel
No : 91-40-66133130/ 66133131 Fax No : 91-40-66133132 E-Mail
: sales@valuepointsystem.com management@valuepointsystems.com Kochin No.41/335-B, 1st Floor, Manjali
Building, Ammankovil Cross Road, Kochin
– 682 035 Tel
No : 91-484-4032266 Fax No : 91-484-4032277 E-Mail
: sales@valuepointsystem.com management@valuepointsystems.com Mumbai No.406, 4th Floor, Acropolic,
Military Road, Marol, Andheri East, Mumbai
- 400 059 Tel
No : 91-22-67106438/39 Fax No : 91-22-67106437 Mobile No : 91-9819004507 E-Mail
: info@valuepoint.com Website : www.valuepoint.com |
DIRECTORS
|
Name : |
Mr. Ramachandra Sridhar
Shanbhag |
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Designation : |
Director |
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Address : |
#45, 2nd Floor, 6th Cross, Malleshwaram,
Bangalore – 560 003, Karnataka, India. |
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Date of Birth/Age : |
02.03.1968 |
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Date of Appointment : |
15.04.1996 |
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Name : |
Mr. Sampathkumar H
Ramaswamy Iyengar |
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Designation : |
Director |
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Address : |
30, Pushpagiri, I
Floor, 10th Cross Kumara Park West, Bangalore – 560 020, Karnataka, India |
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Date of Birth/Age : |
16.06.1969 |
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Date of Appointment : |
15.04.1996 |
KEY EXECUTIVES
|
Name : |
R K Beat and Company |
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Designation : |
Company Secretary |
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Address : |
No.105/15, Saleh Ahmed Building, Infantry Road, Bangalore – 560 001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ramachandra Sridhar
Shanbhag |
|
2255 |
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Mr. Sampathkumar H
Ramaswamy Iyengar |
|
2255 |
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Total |
|
4510 |
Equity share breakup (percentage of total equity)
|
Category |
Percentage |
|
Directors or relatives of director |
100 |
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Total |
100 |
BUSINESS DETAILS
|
Line of Business : |
Trader for
computer and computer parts and also provide services for HP |
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Imports : |
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Products : |
They do indirect Import |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
800 |
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Bankers : |
Ř Corporation Bank, Maleshwar, Main Branch Ř ICICI Bank Ř Syndicate Bank Ř HSBC Bank Ř Citi Bank |
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Facilities : |
OD Rs.30.000 Millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
D. Shivaram Bhat Chartered Accountant |
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Address : |
No.16, K K Lane, 2nd Cross, Cottonpet, Bangalore – 560 053,
Karnataka, India |
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Phone No : |
91-80-41223521 |
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Group Companies : |
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Associates/Subsidiaries : |
Value Point Technologies Private Limited |
CAPITAL STRUCTURE
(As On 16.08.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22550 |
Equity Share |
Rs.100/-
each |
Rs.2.255
Millions |
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 |
|
|
|
|
|
1] Share Capital |
2.255 |
2.255 |
0.451 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
38.041 |
22.597 |
14.131 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
40.296 |
24.852 |
14.582 |
|
|
LOAN FUNDS |
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|
1] Secured Loans |
35.630 |
12.523 |
5.859 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
35.630 |
12.523 |
5.859 |
|
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DEFERRED TAX LIABILITIES |
0.496 |
0.241 |
0.049 |
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TOTAL |
76.422 |
37.616 |
20.490 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.100 |
10.274 |
4.061 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.070 |
3.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
19.931
|
6.575 |
1.295 |
|
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Sundry Debtors |
149.745
|
46.753 |
30.021 |
|
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Cash & Bank Balances |
21.236
|
7.216 |
9.029 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
28.959
|
22.706 |
11.850 |
|
Total
Current Assets |
219.871
|
83.250 |
52.195 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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Current Liabilities |
149.624
|
49.458 |
35.767 |
|
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Provisions |
15.995
|
9.450 |
0.000 |
|
Total
Current Liabilities |
165.619
|
58.908 |
35.767 |
|
|
Net Current Assets |
54.252
|
24.342 |
16.428 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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|
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TOTAL |
76.422 |
34.616 |
20.490 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
649.000 |
399.200 |
235.775 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
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Total Income |
649.000 |
399.200 |
235.775 |
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|
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Profit/(Loss) Before Tax |
31.800 |
20.400 |
16.509 |
|
|
Provision for Taxation |
11.100 |
7.600 |
6.430 |
|
|
Profit/(Loss) After Tax |
20.700 |
12.800 |
10.079 |
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Expenditures : |
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|
|
|
|
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Depreciation |
4.400 |
1.700 |
0.000 |
|
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Other Expenditure |
612.800 |
377.100 |
0.000 |
|
Total Expenditure |
617.200 |
378.800 |
219.266 |
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Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
Approximately
810.000 |
Expected Sales (2008-09) : Rs.1200.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.18
|
3.20 |
4.27 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
4.89
|
5.11 |
7.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
13.30
|
21.81 |
29.34 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.78
|
0.82 |
1.13 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.99
|
2.87 |
2.85 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.41 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the
company |
VALUE
POINT SYSTEMS PRIVATE LIMITED |
|
Presented By |
Corporation
Bank |
|
1) Date and
description of instrument creating the change |
Hypothecation
Deed dated 01.07.1998 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.0.800 Millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation of
Present & Future book debts, outstanding monies receivables, claims,
bills, contracts, engagements, securities, investments, rights and assets. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest at 17%
p.a. |
|
5) Name and Address
and description of the person entitled to the charge. |
Corporation Bank,
Malleswaram Main, Bangalore – 20. |
|
6) Date and brief description of instrument
modifying the charge |
Supplemental
Common Deed dated 29.04.2004. |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
By this
modification the charge is enhanced from Rs.4.000 Millions to Rs.6.000
Millions with increase of Cash Credit Limit from Rs.2.500 Millions to
Rs.4.500 Millions. |
|
Name of the
company |
VALUE
POINT SYSTEMS PRIVATE LIMITED |
|
Presented By |
Corporation
Bank |
|
1) Date and
description of instrument creating the change |
Hypothecation
Deed dated 01.07.1998 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.0.800 Millions |
|
3) Short
particular of the property charged. If the property acquired is subject to charge,
date of the acquired of the property should be given |
Hypothecation of
Present & Future book debts, outstanding monies receivables, claims,
bills, contracts, engagements, securities, investments, rights and assets. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest at 17%
p.a. |
|
5) Name and
Address and description of the person entitled to the charge. |
Corporation Bank,
Malleswaram Main, Bangalore – 20. |
|
6) Date and brief description of instrument modifying
the charge |
Supplemental
Common Deed dated 29.04.2004. |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
By this modification
the charge is enhanced to Rs.12.250 Millions with OCC of Rs.10.000 Millions,
BG Rs.1.750 Millions and DBC Rs.0.500 Millions. Interest @ 10.50%
p.a. |
As Per Websites
What started as a humble beginning in 1991, Subject has come a long way
to establish itself as a trusted IT partner through its continued dedication,
innovations, solutions and sustained service to its increasing customer base.
Their success is attributed in no small measure to all their valued customers.
Subject today is a diversified Business Group with major interests in IT
Infrastructure / Facility Management, Software Development and Staffing
Solutions, Back Office Processing and Language Translation services. The Group
has had a turnover of over Rs.1300.000 Millions in 2005-2006.
Their philosophy of providing their customers with quality products and
services at affordable prices has resulted in the brand being recognized as a
true global corporate.
Over the years, Subject has developed a strong network consisting of 5 branch
offices across India and Business partners at strategic locations across the
world. The geographical locations of these facilities are in consonance with
the market expansion strategies of the organization.
Group Companies
Value point IT Services
Value point IT Services is the services arm of Value point Group. The
company provides comprehensive IT service offerings encompassing break fix
services, repair services, implementation services, consulting and staff
augmentation services. The company has over 300 professionals across India and
is providing relentless support to Global as well as Indian Corporate
customers.
For further details
Visit: www.valuepointits.com
Write to: gururaj@valuepointsystems.com
Value point Knowledgeworks
Value point Knowledgeworks is India’s largest language translation and
related services company. Knowledgeworks has assisted companies’ worldwide win
large business in non English speaking countries, helped research organizations
in patent translation, translated websites, helped Clinical Research
organizations with their translation requirements apart from IT companies.
Knowledgeworks helps in Translation, Interpretation and Localizations.
For further details
Visit: www.knowledgew.com
Write to: gururaj@valuepointsystems.com
Value point Technologies
Value point Technologies is the Offshore Development and Staffing
Solutions Company of the Value point Group. Value point Technologies has
assisted non Indian companies to setup their India development centers on a BOT
model. Apart from software application development for both domestic and
overseas clients, Value point Technologies has assisted leading companies with
their recruitment needs.
For further details
Visit: www.valuepointtech.com
Write to: gururaj@valuepointsystems.com
Source Hub
Source Hub is the back office processing company of the Value point
Group. Source Hub has established itself as a leading BPO company and addresses
the outsourcing needs of Insurance and Legal Companies worldwide. Source Hub
employs over 300 people and has development centers in Bangalore and Udipi.
Source Hub has sales and project management offices in US, Europe, Middle East
Asia and South East Asia.
For further details
Visit: www.sourcehubindia.com
Write to: gururaj@valuepointsystems.com
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.68 |
|
UK Pound |
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
|