MIRA INFORM REPORT
|
Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
J S EQUIPMENTS |
|
|
|
|
Registered Office : |
G-11, Ground Floor, Matru
Mandir, 278, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1994 |
|
|
|
|
IEC No.: |
0396009646 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADPS7098D |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Distributors and Importers of Laptop Bass and Accessories. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
G-11, Ground Floor, Matru Mandir, 278, Tardeo Road, Mumbai – 400 007, Maharashtra, India. |
|
Tel. No.: |
91-22-23810713 / 18 / 23871741 |
|
Mobile No.: |
91-98210-16967 |
|
Fax No.: |
91-22-23860976 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
450 Sq.ft. |
|
Location: |
Owned |
|
|
|
|
Warehouse : |
Da Daware, Hindustan Company, Ground Floor, Shiir Parel Bhuvan,
Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-23692054 |
|
Area : |
400 Sq.ft. |
|
Location |
Owned |
|
|
|
|
Warehouse : |
C -64, Patil Estate, 278, Tardeo Road, Mumbai-400007, Maharashtra, India |
|
Area : |
400 Sq.ft. |
|
Location: |
Rented |
|
|
|
|
Warehouse : |
Ddaji Dhakji Compound, Chowpaty, Mumbai 400004. |
|
Area : |
400 Sq.ft. |
|
Location: |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Jyotin K. Shah |
|
Designation : |
Proprietor |
|
Address : |
46/3, Kailas Nagar, 658, Tardeo Road, Mumbai – 400 007 |
|
Date of Birth/Age : |
43 years |
|
Qualification : |
B. E. (Electronics) |
|
Experience : |
20 years |
BUSINESS DETAILS
|
Line of Business : |
Distributors and Importers of Laptop Bass and Accessories. |
|
|
|
|
Agencies Held : |
The agencies held by the concern are : ˜ Fedco Electronics Inc, U.S.A. ˜ Mapower Electronics, Taiwan ˜ Datastor Tech, Taiwan ˜ Freecom Technologies, Germany ˜ Adomax Technology, Taiwan ˜ Iogear, U.S.A. ˜ Atek, U.S.A. ˜ Micro Accessories, U.S.A. ˜ Kingnet Technologies, Taiwan ˜ Princeton, U.S.A. ˜ Griffin Technologies, U.S.A. ˜ Lava, Canada ˜ Dicota, Germany ˜ World Connect Inc., Switzerland ˜ Mobile Access ˜ Krussel, Sweden ˜ Laptop Batteries ˜ Ewergypt, USA |
|
|
|
|
Imports : |
|
|
Products : |
Lap top Bass and Accessories. |
|
Countries : |
·
USA ·
Europe ·
Far East |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30/60/90 days) |
|
|
|
|
Purchasing : |
Credit (30/60/90 days) |
GENERAL INFORMATION
|
Suppliers : |
Some of its’ major suppliers are as under : ˜ Connexion ˜ DHL Worldwide Express (India) Private Limited ˜ Jasubhai Digital Media Private Limited ˜ Mahalaxmi Infotech ˜ New Era Office Equipments ˜ Samyak Marketing ˜ Dicota Asia Pte Limited 60, Kaki Bukit Place, Eunos Techpark, # 01-06, Singapore-451979 Tel. No.: 62880858 Fax No.: 62880183 IOGEAR 23 Hubble, Irvine, CA 92618, United States Tel. No.: 1-949-453-8782 Fax No.: 1-949-453-8785 Atek Inc. 2911, Tech Center, Dr. Santa Ana, CA 92705 Tel. No.: 714-258-0100, ext.203 1-888-889-9990 Fax No.: 714-258-0105 Website : http://www.atek.com |
|
|
|
|
Customers : |
Its’ major customers include wholesalers, retailers, end users and original equipment manufacturers and Others. Some of its’ major customers are : ˜ A. S. Agencies ˜ Absolute Network Private Limited ˜ Addonix Technologies Private Limited ˜ Allied Digital Services Private Limited ˜ Angel Engineering Company ˜ Associated Computer Products ˜ Bhartiya Electronics Private Limited ˜ Clear Point Electronics Private Limited ˜ Apson Associates ˜ Apex Enterprises ˜ Dixit Infotech Services Private Limited ˜ Hardtrack Computer Services Private Limited ˜ International Data Solutions ˜ Decision Plus Systems Inc. ˜ Mascom Electronics Private Limited ˜ Monarch Tech (Pune) Private Limited ˜ Paragon Business Solutions Limited ˜ Perfect Electronics ˜ Safe Data System ˜ Sterling Solutions Private Limited ˜ Sujata Computers Private Limited ˜ Telexcell Information Systems Limited ˜ VFC Industries Limited ˜ Butterfly Peripherals, Mumbai ˜ Network Techlab (Inddia) Private Limited |
|
|
|
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
Canara Bank, Girgaum Branch, Raja Ram Mohan Roy Road, Mumbai – 400 004, Maharashtra, India Account No.60275 VAT No.27680293096 V |
|
|
|
|
Facilities : |
Overdraft Facility of Rs 4.000 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Parikh & Shah Chartered Accountants |
|
Address : |
Bhupati Chambers, 1st Floor, Mathew Road, Opera House, Mumbai – 400 004, Maharashtra, India |
|
Tel. No.: |
91-22-23630269 |
|
Fax No.: |
91-22-23618472 |
|
|
|
|
Associates/Subsidiaries : |
˜ J. S. Electronics G-11, Ground Floor, Matru Mandir, 278,
Tardeo Road, Mumbai – 400 007, Maharashtra, India. Tel.
No. 91-22-23810713 / 18 /
23871741 Mobile
No. 98210-16967 Fax
No. 91-22-23860976 E-Mail jse@vsnl.com
Website http://www.jseindia.com
Line of
Business : Trading in Computer Parts, AMC Laptop Service Centre. |
CAPITAL STRUCTURE
(As On 31.03.2007)
|
Capital Investment : |
|
|
Owned : |
Rs.0.500 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
25.000 |
25.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
NA |
6.500 |
|
Provision of Tax |
|
NA |
1.500 |
|
Profit/ Loss for the year |
|
NA |
0.500 |
Expected Sales (2008-09) : Rs.40.000 Millions
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.113 |
0.124 |
0.269 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.113 |
0.124 |
0.269 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.903 |
1.580 |
1.481 |
|
|
TOTAL BORROWING |
1.903 |
1.580 |
1.481 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.016 |
1.704 |
1.750 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.263 |
0.257 |
0.337 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.012 |
4.472 |
2.289 |
|
|
Sundry Debtors |
0.605 |
0.779 |
0.603 |
|
|
Cash & Bank Balances |
0.044 |
0.008 |
(0.652) |
|
|
Other Current Assets |
0.053 |
0.279 |
0.140 |
|
|
Loans & Advances |
0.000 |
0.008 |
0.004 |
|
Total
Current Assets |
4.714
|
5.546 |
0.144 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2.961 |
4.099 |
0.971 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
2.961 |
4.099 |
0.971 |
|
|
Net Current Assets |
1.753 |
1.447 |
1.413 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.016 |
1.704 |
1.750 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
|
|
Total Income |
12.231 |
10.352 |
10.500 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.655 |
0.275 |
0.848 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.655 |
0.275 |
0.848 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
9.128 |
7.656 |
7.817 |
|
|
Interest |
0.402 |
0.293 |
0.217 |
|
|
Depreciation & Amortization |
0.137 |
0.136 |
0.116 |
|
|
Other Expenditure |
1.909 |
1.992 |
1.502 |
|
Total Expenditure |
11.576 |
10.077 |
9.652 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2003 |
31.03.2002 |
31.03.2001 |
|
PAT / Total Income |
(%) |
5.35
|
2.65 |
8.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.35
|
2.65 |
8.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.16
|
4.74 |
176.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
5.80
|
2.22 |
3.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
43.04
|
45.80 |
9.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.35 |
0.15 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
RSG Infotech.
·
Siemens Info.
·
Prime ABGP Private Limited.
BUSINESS:
Subject acts as importers / distributors of various peripherals such as laptop battery and adaptors, USB portable products, external casings for storage, PCMCIA replacement cables and optical mouse, hot swappable trays, PCMCIA products, flash / memory products, security products, PCI to serial, laptop carry case, etc.
It is in trade terms with :
˜ Clearpoint Electronics Private Limited
Contact Person : Mr. Jayant Goradia
Tel No. 91-22-26713544 / 6392
˜ Nelson Tech
Contact Person : Mr. Sandeep
Tel No. 91-22-24328586 / 24328686
˜ Shri Satguru
Contact Person : Mr. Mahesh Surekha
Tel No. 91-22-28711785 / 783
The concern’s fixed assets of important value include computer system, furniture & fittings, motor car, office equipments, etc.
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.49.29 |
|
UK Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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
|
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 |
|