MIRA INFORM REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ZENITH COMPUTERS LIMITED |
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Registered Office : |
Zenith House, 29, M.I.D.C. Central Road, Andheri (East), Mumbai – 400093, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
20.05.1980 |
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Com. Reg. No.: |
11-022652 |
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CIN No.: [Company
Identification No.] |
L72900MH1980PLC022652 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMZ00991E |
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PAN No.: [Permanent
Account No.] |
AAACZ0104F |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the
Stock Exchanges. |
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Line of Business : |
Manufacturer, Installing and Servicing a wide range of Computer
Systems, Peripherals and Accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 1700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade relations are reported as fair. Payments are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Ms. Beena |
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Designation : |
Finance Manager |
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Contact No.: |
91-22-28377300 |
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Date : |
18.04.2011 |
LOCATIONS
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Registered Office : |
Zenith House, 29, |
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Tel. No.: |
91-22-28377300/ 28366030 |
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Fax No.: |
91-22-28364859/ 28377297/ 28360897 |
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E-Mail : |
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Website : |
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Area : |
10000 sq. ft. |
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Location : |
Owned |
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Head Office : |
Unit No. 5, 6, 7, 8 SDF Building No. 1, Electronic Sadan
TTC Mahapte, District Thane – 400 701 Maharashtra, |
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Tel. No.: |
91-22-27681312/ 6165/ 27614994/ 5281/ 0667/ 82/ 83 |
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Fax No.: |
91-22-27610668 |
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E-Mail : |
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Website : |
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Factory : |
Ř P-31/39
and P-33/37, Sancoale Industrial Estate, P.O. Zuari Nagar, Goa – 403 726, Tel No. 91-832-2555346/ 2555826 Ř A-71,
TTC, MIDC, Ř |
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Area : |
45000 sq. ft. |
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Location : |
Owned |
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Branch Office : |
Located at ·
Mumbai ·
·
Kolkata ·
Chennai ·
·
·
·
Secunderabad ·
Pune ·
·
Ahmedabad
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DIRECTORS
As on 07.08.2010
|
Name : |
Mr. Raj Kumar
Saraf |
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Designation : |
Chairman cum
Managing Director |
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Address : |
5, AB and C,
Saraf House, 5th Floor, |
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Date of Birth/Age : |
B. Com., LL.B |
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Qualification : |
07.10.1945 |
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Date of Appointment : |
20.05.1980 |
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Name : |
Mr. Homi
Phiroze Ranina |
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Designation : |
Director |
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Address : |
Flat No. 24, 6th
Floor, “Commonwealth”, 181, Backbay Reclamation, Mumbai – 400 021, |
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Date of Birth/Age : |
19.10.1948 |
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Qualification : |
B.Com (Hons),
LL.B., FCA |
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Date of Appointment : |
29.06.1988 |
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Name : |
Mrs. Vijayrani
Saraf |
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Designation : |
Director |
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Address : |
5, AB and C,
Saraf House, 5th Floor, |
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Date of Birth/Age : |
31.10.1951 |
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Qualification : |
M.A. (Economics) |
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Date of Appointment : |
16.11.1983 |
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Name : |
Mr. Vijay Ram Mukhi |
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Designation : |
Director |
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Address : |
158, Kalptaru Habitat, 15th Floor, |
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Date of Birth/Age : |
07.12.1957 |
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Qualification : |
Graduate |
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Date of Appointment : |
04.10.2005 |
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Name : |
Mr. Vipin Maneklal Shah |
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Designation : |
Director |
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Address : |
4A, 4th Floor, Happy Home Aparments, 26A, |
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Date of Birth/Age : |
08.06.1945 |
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Qualification : |
Graduate |
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Date of Appointment : |
31.03.2009 |
KEY EXECUTIVES
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Name : |
Mr. Ramesh S. Sanghvi |
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Designation : |
Company Secretary and Compliance Officer |
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Address : |
Flat No.603, Nilgiri Neelkant Vihar, Vidyavihar, |
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Date of Birth/Age : |
20.06.1951 |
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Date of Appointment : |
12.05.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
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(A)
Shareholding of Promoter and Promoter Group |
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6,717,531 |
43.39 |
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1,692,224 |
10.93 |
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8,409,755 |
54.32 |
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Total
shareholding of Promoter and Promoter Group (A) |
8,409,755 |
54.32 |
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(B)
Public Shareholding |
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5,800 |
0.04 |
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3,150 |
0.02 |
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1,344,757 |
8.69 |
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1,353,707 |
8.74 |
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700,737 |
4.53 |
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3,836,167 |
24.78 |
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401,305 |
2.59 |
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779,169 |
5.03 |
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686,566 |
4.43 |
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92,603 |
0.60 |
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5,717,378 |
36.93 |
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Total
Public shareholding (B) |
7,071,085 |
45.68 |
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Total
(A)+(B) |
15,480,840 |
100.00 |
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(C) Shares
held by Custodians and against which Depository Receipts have been issued |
- |
- |
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- |
- |
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- |
- |
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- |
- |
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Total
(A)+(B)+(C) |
15,480,840 |
- |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Installing and Servicing a wide range of Computer Systems, Peripherals and Accessories. |
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Products : |
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Brand Names : |
“ZENITH” |
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Exports : |
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Products : |
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Countries : |
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Imports: |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash or Credit (30 / 60 / 90 days) terms |
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Purchasing : |
L/C, Cash or Credit (30 / 60 / 90 days) terms |
PRODUCTION STATUS
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Particulars |
Licensed
Capacity |
Installed
Capacity |
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Computer/ Micro Processor based systems and peripherals |
No Limits |
200000 |
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GENERAL INFORMATION
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Customers : |
· Wholesalers · Retailers · End users · Original Equipment Manufacturers |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
·
State Bank of ·
Indian Bank, Mittal Tower, B Wing, 210, Nariman
Point, Mumbai – 400 021, ·
Federal Bank Limited ·
Union Bank of · Canara Bank |
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Facilities : |
a) Working Capital borrowings from banks are secured by way of hypothecation of Inventories, Book Debts and by way of second charge on Fixed Assets. b) Term loan from Bank is secured by a first charge on the fixed assets and second charge on current assets.
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
C.L. Khanna and Company Chartered Accountants |
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Address : |
Mumbai, |
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Associates/Subsidiaries : |
·
Zenith
Infotech Limited 29, Zenith House,
MIDC, Line of Business : Banking Software and Software Development |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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27000000 |
Equity Shares |
Rs.10/- each |
Rs.270.000 millions |
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5000000 |
Unclassified Shares |
Rs.10/- each |
Rs.50.000 millions |
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Total |
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Rs.320.000 millions |
Issued, Subscribed Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
15480840 |
Equity Shares |
Rs.10/- each |
Rs.154.808 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
155.000 |
155.000 |
155.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
268.566 |
322.425 |
358.255 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
423.566 |
477.425 |
513.255 |
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LOAN FUNDS |
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1] Secured Loans |
201.154 |
458.173 |
358.362 |
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2] Unsecured Loans |
399.700 |
479.640 |
479.640 |
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TOTAL BORROWING |
600.854 |
937.813 |
838.002 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1024.420 |
1415.238 |
1251.257 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
456.726 |
314.488 |
457.212 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
504.648
|
612.477
|
394.257
|
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Sundry Debtors |
242.081
|
703.972
|
551.054
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Cash & Bank Balances |
77.615
|
36.987
|
23.848
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
123.335
|
156.229
|
139.453
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Total
Current Assets |
947.679
|
1509.665
|
1108.612
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
93.143
|
109.319
|
73.623
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Other Current Liabilities |
255.907
|
272.011
|
196.971
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Provisions |
30.935
|
27.585
|
43.973
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Total
Current Liabilities |
379.985
|
408.915
|
314.567
|
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Net Current Assets |
567.694
|
1100.750
|
794.045
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1024.420 |
1415.238 |
1251.257 |
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PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales, Services, Income from Operations |
2772.918 |
3109.648 |
3251.264 |
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Other Income |
6.975 |
3.714 |
0.157 |
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TOTAL (A) |
2779.893 |
3113.362 |
3251.421 |
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Less |
EXPENSES |
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Cost of Materials Consumed |
2308.341 |
2412.484 |
2389.564 |
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Excise duty and Service tax |
163.008 |
255.325 |
292.393 |
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Manufacturing, Selling and Administration
Expenses |
160.786 |
207.815 |
209.356 |
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Salaries, Wages and Other Employee Benefits |
105.628 |
118.649 |
117.965 |
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Increase/ Decrease in Closing Stock
(Finished Goods) |
(64.896) |
(36.054) |
(32.261) |
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TOTAL (B) |
2672.867 |
2958.219 |
2977.017 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
107.026 |
155.143 |
274.404 |
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Less |
INTEREST &
FINANCIAL EXPENSES (D) |
26.696 |
38.542 |
72.089 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
80.330 |
116.601 |
202.315 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
55.640 |
101.896 |
164.442 |
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PROFIT BEFORE
TAX (E-F) (G) |
24.690 |
14.705 |
37.873 |
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Less |
TAX (H) |
4.196 |
3.805 |
6.706 |
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PROFIT AFTER TAX
(G-H) (I) |
20.494 |
10.900 |
31.167 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.021 |
0.207 |
0.617 |
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Less |
APPROPRIATIONS |
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Proposed Dividend |
13.933 |
13.933 |
18.577 |
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Tax on Proposed Dividend |
2.368 |
2.368 |
3.157 |
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Provision for Taxation for Earlier Years |
0.000 |
(0.565) |
1.843 |
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Transfer to General Reserve |
0.000 |
(4.650) |
8.000 |
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BALANCE CARRIED
TO THE B/S |
4.214 |
0.021 |
0.207 |
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Earnings Per
Share (Rs.) |
1.32 |
0.55 |
1.81 |
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Particulars |
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|
31.03.2011 |
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Sales Turnover |
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3000.000 (Approximately) |
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Expected Sales (2011-2012) : Rs.3500.000
Millions
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 (1st
Quarter) |
30.09.2010 (2nd
Quarter) |
31.12.2010 (3rd
Quarter) |
|
Audited
/ UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
379.580 |
540.390 |
531.210 |
|
Total Expenditure |
350.440 |
505.770 |
498.140 |
|
PBIDT (Excl OI) |
29.140 |
34.620 |
33.070 |
|
Other Income |
0.220 |
0.290 |
0.230 |
|
Operating Profit |
29.360 |
34.920 |
33.300 |
|
Interest |
5.580 |
8.840 |
7.250 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
23.780 |
26.080 |
26.060 |
|
Depreciation |
18.550 |
18.720 |
18.640 |
|
Profit Before Tax |
5.230 |
7.370 |
7.420 |
|
Tax |
1.040 |
1.470 |
1.480 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
4.190 |
5.900 |
5.940 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
4.190 |
5.900 |
5.940 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.74
|
0.35 |
0.96 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.89
|
0.47 |
1.16 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.76
|
0.81 |
2.42 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.03 |
0.07 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.32
|
2.82 |
2.25 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.49
|
3.69 |
3.52 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
93.143
|
109.319
|
73.623
|
|
Total |
93.143
|
109.319
|
73.623
|
HISTORY:
Incorporated in May 80, Subject was promoted by chairman and
managing director Raj Saraf, who has interests in other companies including
Zenith Control Systems, Zenith Technologies, Brisk Controls, etc.
Company came out with a Rs.175.800 Millions public issue of 3.907 Millions
equity shares (premium: Rs.35) to set up a 100% EOU in Goa to manufacture
PC-XT/ATs, LAN cards, notebook computers and second unit at MIDC, Bombay (cost
: Rs.250.000 Millions). The company manufactures computer systems including
PC-ATs, local area networks (LAN), wide area networks (WAN) and computer
peripherals. It has marketing tie-ups with Texas Instruments, US, a Fortune-500
company, for notebook computers and laser printers; with EICON,
It also has entered into a tie-up with 3 Com US, for exclusive distribution and
installation of the latter's products in
It recently entered into a tie-up with Acer, US, for distributing its PCs. Some
of company’s clients include Hindustan Lever, Citibank, Air
In 1999-2000, Computer has launched the Zenith Xtreme personal computer, which
offers endto-end gaming and entertainment experience through the latest 3D graphics
engine, multi-channel 3D audio engine and 3D surround sound home theatre
nspeaker systems, besides exciting software.
During 2000-01 the company discontinued its business at its branch office at
COMPANYS
ACTIVITIES
Fiscal year 2010 was a year of lower economic growth with demand for the
products and services in the Information and Technology sector registering a
small growth in volumes but falling prices.
REVIEW OF
OPERATIONS
During the year,
·
The net sales revenues at Rs.2772.918 millions, were
lower than the previous year, due to adverse market conditions arising out of
the global recession. However, during the year the profit before tax has
increased to Rs.24.690 millions from the previous years Profit of Rs.14.705
millions due to the Company’s relentless efforts in the cost reduction
activities.
·
The Company continues to endeavour in maintaining
customers to their utmost satisfaction levels by registering impeccable track
record of quality and delivery efficiency, thereby ensuring their continued
patronage for the company’s products and services.
·
Further changes and improvisations are under way in
the manufacturing process and these changes are in compliance with
international requirements.
PROSPECTS AND
OUTLOOK
·
The Company’s businesses of leasing/renting /
hiring of computer systems to small businesses and to corporates have added a
revenue stream and contributed to the company’s profits.
·
The Directors endeavour is to enhance the Revenue
and Profit to higher levels and for this purpose, efforts have been initiated
by value addition to products, customers and markets.
·
Vigorous marketing efforts and ceaseless cost
reduction activities continue with more thrust and vigour to accomplish these
goals.
·
The efforts are being intensified to sustained
leadership position by constantly upgrading the products to match advancing
technology trends, maintaining the superiority in quality, and continuing the
unblemished timely service support;
·
The above, coupled with continuous monitoring of
inventory, receivables and overheads, would result in healthier results during
the coming years.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 31st December, 2010
(Rs.
in millions)
|
Particulars |
Quarter Ended 31.12.2010 (Unaudited) |
Nine Months Ended 31.12.2010 (Unaudited) |
|
|
|
1. Net sales/ Income from Operations |
561.526 |
1541.255 |
|
|
|
2. Expenditure |
|
|
|
|
|
a) (Increase)/decrease in stock in trade and work-in-progress |
(2.484) |
127.781 |
|
|
|
b) Consumption of raw materials |
450.321 |
1080.180 |
|
|
|
c) Excise Duty |
30.313 |
90.053 |
|
|
|
d) Staff Cost |
22.648 |
67.677 |
|
|
|
e) Depreciation |
18.636 |
55.908 |
|
|
|
f) Other expenditure |
27.658 |
78.709 |
|
|
|
g) Total |
547.092 |
1500.308 |
|
|
|
3. Net Profit/ (Loss) from Ordinary Activities before other income,
interest and tax (1-2) |
14.434 |
40.947 |
|
|
|
4. Other income |
0.232 |
0.745 |
|
|
|
5. Net Profit / (Loss) before Ordinary Activities, Interest and Tax
(3+4) |
14.666 |
41.692 |
|
|
|
6. Interest |
7.245 |
21.667 |
|
|
|
7. Net Profit / (Loss) before Ordinary Activities before Tax (5-6) |
7.421 |
20.025 |
|
|
|
8. Provision for Taxation |
1.479 |
3.991 |
|
|
|
9. Net Profit/ (Loss) for the period (7-8) |
5.942 |
16.034 |
|
|
|
10. Paid up equity share capital (Face value of Rs.10 per share) |
154.808 |
154.808 |
|
|
|
11. Reserves excluding revaluation reserves |
-- |
-- |
|
|
|
12. Basic and Diluted (Rs.) (not annualized) |
0.38 |
1.04 |
|
|
|
13. Public shareholding |
|
|
|
|
|
- Number of shares |
7071085 |
7071085 |
|
|
|
- Percentage of shareholding |
45.68% |
45.68% |
|
|
|
14. Promoter and
Promoter Group Shareholding |
|
|
|
|
|
a) Pledged /
Encumbered |
|
|
|
|
|
- Number of
Shares |
-- |
-- |
|
|
|
- Percentage of
Shares (as a % of total shareholding of promoter & promoter group) |
-- |
-- |
|
|
|
- Percentage of
Shares (as a % of total share capital of the Company) |
-- |
-- |
|
|
|
b)
Non-Encumbered |
|
|
|
|
|
- Number of
Shares |
8409755 |
8409755 |
|
|
|
- Percentage of
Shares (as a % of total shareholding of promoter & promoter group) |
100.00% |
100.00% |
|
|
|
- Percentage of
Shares (as a % of total share capital of the Company) |
54.32% |
54.32% |
|
|
|
15. Investor’s
Complaints: Pending at the
beginning of the quarter (1.4.10) – NIL Received and
disposed during the quarter – 24 Pending at the end of the quarter (30.6.10) – NIL |
|
|||
Notes:
1. The above results were reviewed and recommended by the audit
committee and approved by the Board of Directors on 12th February,
2011.
2. The Company operates in a single segment only.
Form 8 :
|
Corporate
identity number of the company |
L72900MH1980PLC022652 |
|
Name of the
company |
ZENITH COMPUTERS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
29, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property Any interest in immovable property |
|
Particular of
charge holder |
Indian Bank, Mittal Tower, B Wing, 210, Nariman Point, Mumbai – 400
021, E-Mail: narimanpoint@indianbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Letter Confirming
Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
17/08/2010 |
|
Amount secured by
the charge |
Rs.200.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: @ BPLR - 1.50%
p.a. (Variable presently 10.50% p.a.) Terms of
Repayment: Repayable at the
end of 36th month in Bullet Payment. Extent and
Operation of the charge: The Charge to operate
as security, by way of first charge, for the due repayment of the Corporate
Loan limit of Rs.200.000 millions together with interests, additional
interest, costs, charges, expenses and all other moneys payable by the
Company to the Bank from time to time in terms of sanction. |
FIXED ASSETS:
Ř
Land
(Leasehold) and Buildings
Ř
Plant
and Machinery
Ř
Computers
Systems
Ř
Electrical
Fittings and Installation
Ř
Factory
and Office Equipment
Ř
Furniture
and Fixtures
Ř
Vehicles
TRADE REFERENCES:
· Bajaj Capital Limited
·
Sanden Vikas (
· Reliance Life Sciences
WEBSITE DETAILS:
PROFILE:
Started in 1980,
Zenith has strived to bring the latest technology products to the Indian
market. Thereby, creating a market in
When Zenith began, it was the 59th ranked PC company, with many major business
houses having entered this new and exciting space. Many could not keep up with
the pace of the computing industry and quit. They stayed because we’re always
on. And now we’re the 2nd largest PC company in
TESTIMONIALS:
1. They bought Zenith laptops after evaluating several brands and found
Zenith the best Value for Money product!
Mahesh Kulkarni - Reliance Life sciences ,
AVP IT
2. They have been using Zenith laptops and are extremely happy with the
performance of the laptops. Zenith laptops are aesthetic in design and have a
rugged performance – just what they need!
Sameer Maheshwari
, Haryana, India - Max NewYork life Insurance Company limited , Purchase
Manager
3. Zenith keeps its promise in delivering the best Customer Experience!
They have been accessing their services and are happy on all the deliverables
supported efficiently by the local office as well as the corporate office.
Subir Dey , New
Delhi, India - Bajaj Capital Limited , Asst. Manager IT Purchases and logistics
4. Zenith has proved that they can compete with MNC’s . They offer Value
for Money products but do not compromise on quality of the product and services
offered. Their customer interaction is something to write about. The Company
has displayed through professionalism at all times! They strongly recommend the
Zenith brand.
Surinder Mohan ,
Haryana,
AWARDS AND RECOGINITIONS:
·
CHIP Magazine presents the
Zenith Presidio with the best value award under the ultra portable category of
the laptop comparison test in 2008.
·
Winner of Government
of
·
FCCI 80th annual awards for corporate
excellence in small and medium sector in 2006-07.
·
Times Economics presents AVAYA most customer responsive company
award in the IT hardware category 2006
·
Sectoral Award in recognition of the highest export in IT hardware
awarded in 2004-05
·
Digit award for best performance
of the year for Desktop PC, in 2003.
·
CHIP Test Centre 2000, Best value verdict for Zenith
Corporate Notebook in Chip hardware comparison test of Notebooks.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.63.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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 |
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 |
|
- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.