MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SAHARA COMPUTECH PRIVATE LIMITED |
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Registered Office : |
#123/1, Ground Floor, Shree K B Complex, S P Road, Bangalore 560002,
Karnataka, India. |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.08.2005 |
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Com. Reg. No.: |
036963 |
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CIN No.: [Company
Identification No.] |
U72501KA2005PTC036963 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer and Distributor in all Kinds of Computer Peripherals and
Consumables. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 6540 |
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Status : |
Satisfactory |
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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. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments The company can be considered good for normal business dealings. |
INFORMATION PARTED BY
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Name : |
Mr. Dinesh |
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Designation : |
Sales Department |
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Date : |
18.10.2008 |
LOCATIONS
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Registered Office : |
#123/1, Ground Floor, Shree K B Complex, S P Road, Bangalore 560002,
Karnataka, India. |
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Tel. No.: |
91-80-41765111 / 91-80-22998304 |
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Fax No.: |
91-80-41765222 |
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E-Mail : |
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Website : |
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Area : |
1000 sq fts. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Amrendra Kumar Shandilya |
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Designation : |
Director |
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Address : |
No. 730F, 04th Cross, K R Garden, Murugesh Palya, Karnataka. |
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Date of Birth/Age : |
03.01.1966 |
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Date of Appointment : |
28.10.2005 |
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Name : |
Mr. Sanjay Rajpurohit |
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Designation : |
Director |
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Address : |
No. 123/4, Sri K B Complex, 1st Floor, S P Road, Bangalore
560002, Karnataka. |
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Date of Birth/Age : |
09.03.1985 |
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Date of Appointment : |
28.10.2005 |
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Name : |
Mr. Jabbar Singh Rajpurohit |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
10.05.1982 |
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Date of Appointment : |
12.08.2005 |
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Name : |
Mr. Babu Singh Bheru Singh. |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
10.03.1953 |
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Date of Appointment : |
12.08.2005 |
KEY EXECUTIVES
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Name : |
Mr. Anand Sirsikar |
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Designation : |
Technical Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 26.09.2006)
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Names of Shareholders |
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No. of Shares |
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Mr. Jabbar Singh Rajpurohi |
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25000 |
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Mr. Babu Singh Behru Singh |
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25000 |
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Total |
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50000 |
Equity Share Breakup (Percentage of total equity):
(As on 28.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor in all Kinds of Computer Peripherals and
Consumables. |
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Products: |
·
Display Adaptors ·
Cabinets |
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Agencies Held : |
·
HP ·
Intex ·
IBM ·
Acer |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days ) |
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Purchasing : |
Credit (60 days / 90 days) |
GENERAL INFORMATION
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Suppliers : |
·
Abocus Peripherals Private Limited. ·
Adinath Computech ·
Ambaji Computech ·
Arihant Infotech ·
Armex Enterprises Private Limited. ·
Fourtek Systems Private Limited. ·
Cande Electronics Private Limited. ·
G R Marketing. ·
Gnet Technologies ·
HCL Infasystems Private Limited. ·
Mach Computers ·
Madhu Infotronix ·
Mahalaxmi Infotech ·
Ingram Micro India Private Limited. ·
Sundeep Infotech. |
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
40 |
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Bankers : |
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Corporation Bank, J C Road Branch, ·
ICICI Bank N R Road Branch, |
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Facilities: |
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Auditors : |
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Name : |
B T Kumar and Company, Chartered Accountant. |
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Address : |
#65/2 5th Giddappa Block, Ganga Nagar, |
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Tel. No.: |
91-80-23544903 |
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E-Mail : |
bygari@rediffmail.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- Each |
0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/-
Each |
0.500
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.808 |
0.065 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.308 |
0.565 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.650 |
0.430 |
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TOTAL BORROWING |
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0.650 |
0.430 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.958 |
0.995 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.673 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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10.298
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7.714 |
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Sundry Debtors |
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18.112
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1.878 |
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Cash & Bank Balances |
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0.345
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1.101 |
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Other Current Assets |
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1.755
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0.000 |
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Loans & Advances |
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0.136
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0.389 |
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Total
Current Assets |
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30.646
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11.082 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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30.803
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10.073 |
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Provisions |
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0.576
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0.038 |
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Total
Current Liabilities |
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31.379
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10.111 |
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Net Current Assets |
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(0.733)
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0.971 |
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MISCELLANEOUS EXPENSES |
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0.018 |
0.024 |
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TOTAL |
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1.958 |
0.995 |
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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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293.969 |
49.997 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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293.969 |
49.997 |
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Profit/(Loss) Before Tax |
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0.743 |
0.103 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.743 |
0.103 |
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Total Expenditure |
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293.226 |
49.894 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.25 |
0.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.25 |
0.21 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.23 |
0.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.57 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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24.47 |
10.66 |
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Current Ratio (Current Asset/Current Liability) |
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0.98 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
·
Computers
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Furniture and Fixture
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Office Equipments
·
Vehicles
Form 8
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This form is for |
Creation of
charge Modification of
charge |
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Corporate
identity number of the company |
U72501KA2005PTC036963 |
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Name of the
company |
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Address of the registered
office or of the principal place of
business in |
#123/1, Ground Floor, Shree K B Complex, S P Road, Bangalore 560002,
Karnataka, India. |
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Type of charge |
Book Debts |
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Particular of
charge holder |
CIN: U72900MH2001PLC132441 Name: 3i Infotech
Trusteeship Services Limited. Address: 3rd
to 6th Floor, International Infotech Park, Tower No.5, Vashi Railway Station
Complex, Vashi, Navi Mumbai 400703 E-Mail:
ananthi.kumar@3i-itsl.com |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation Dated 25.01.2008 |
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Date of
instrument Creating the charge |
25.01.2008 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
IBAR + 0.50% p.a Cash Risk Premium 2.25% p.a(The applicable rate of interest
at present is at 14.0%p.a. Terms of
Repayment: 12 months repayable on demand subject to review at periodical
intervals. Extent and
Operation of the charge: Exclusive charge by way of hypothecation of Currents
Assets(including all credit card receivables) both [resent and future in favour
of 3i infotech Trusteeship Services Limited. The details are mentioned in the
Schedule II of the Deed of Hypothecation. |
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Short particulars
of the property charged |
Hypothecation by
way of charge on the Current Assets(including all Credit Card Receivables)
both present and future. Located at |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Indian Rupees |
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US Dollar |
1 |
Rs.48.83 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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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