MIRA
INFORM REPORT
|
Report Date : |
02.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRO WORLD |
|
|
|
|
Registered
Office : |
Bank Road Gorakhpur -273001, Uttar Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
1999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 millions |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Dealers of Carrier Air conditioner including window, split, ductable
and chillers. |
|
|
|
|
No. of Employees
: |
74 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 40000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rahul Singh |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9838075227 |
|
Date : |
28.07.2011 |
LOCATIONS
|
Registered Office : |
Bank Road Gorakhpur-273001, Uttar Pradesh, India |
|
Tel. No.: |
91-551-2345167 / 3295056 |
|
Fax No.: |
91-551-2345328 |
|
E-Mail : |
|
|
Web Side : |
|
|
Area : |
450 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Work Shop : |
Back side of Showroom, Bank Road Gorakhpur-273001, Uttar Pradesh,
India |
|
Area : |
1000 Sq. ft |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Rahul Singh |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
26.01.1978 |
|
Qualification : |
Bachelor of Commerce |
BUSINESS DETAILS
|
Line of Business : |
Dealers of Carrier Air conditioner including window, split, ductable
and chillers |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Retailers and Institutions |
|
|
|
|
No. of Employees : |
74 (Approximately) |
|
|
|
|
Bankers : |
·
Oriental Bank of Commerce Bank Road Gorakhpur-273001, Uttar Pradesh,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
|
|
|
|
Associates/Subsidiaries : |
Climat control Line of Business: Dealers for Carrier for deep refrigerators Shri Krishna Electronics Line of Business: Dealers of Carrier for Air conditioner Rajsi Gas Company Line of Business: Distributors of Industrial Gases Shakti Auto Services Line of Business: Auto Workshop Raj Engineering’s Corporations Line of Business: Refrigerators and Air Conditions Workshop Aadi Shakti Traders, Line of Busines: Showroom for electrical goods Kusum Construction Line of Business: Government of Civil Contractors |
CAPITAL STRUCTURE
AS ON 31.3.2011
|
Capital Investment : |
|
|
Owned : |
Rs. 10.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
95.000 |
75.000 |
65.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs. 120.000 millions
The above information has been parted by Mr. Rahul Singh.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
·
Birla Sun Life Insurance, Gorakhpur
·
HDFC Standard Life Insurance, Gorakhpur
·
Bajaj Hindustan Sugar Industries, Deepfrigerors
Devorice
·
District Majistrat, Kushi Nagar,
WEB SITE DETAILS
PROFILE
Establishments primarily engaged in the wholesale distribution of radio
and television receiving sets, other household electronic sound or video
equipment, self-contained air-conditioning room units, and household electrical
appliances. Also included are establishments primarily engaged in the wholesale
distribution of household nonelectric laundry equipment and refrigerators and
freezers.
NEWS
PRESS RELEASE
IT CHAIN ELECTRO WORLD GROWS 63% IN TURKEY IN
JAN-MAY
15 July 2011
Istanbul,
July 15Asia Pulse - Electro World, an IT chain store, grew 63 per cent in
Turkey in the first five months of 2011.
According
to figures of Gfk Panelmarket, the whole electronic market grew 20 per cent and
electronic retailer channel grew 35 per cent, while Electro World grew 106 per
cent in May 2011 when compared to May 2010.
In
January-May 2011, when compared to the same period of 2010, whole electronic
market grew 23 per cent and electronic retailer channel grew 34 per cent, while
Electro World grew 63 per cent.
Electro
World grew three times more than the whole electronic market in the last one
year.
Electro
World Turkey Director General Bahadir Ozbek said that the company reached this
performance with 21 stores in ten provinces of Turkey, adding that they would
reach 40 stores in 25 provinces by May, 2012.
Electro
World is a registered trademark of Dixons Retail plc which is a leading
electronic products retailer group in Europe.
It is operating in Turkey under the
partnership of Dixons Retail/Esas Holding/ODESA.
SRS LABS ANNOUNCES PARTNERSHIP WITH DIXONS RETAIL
PLC TO ADD AUDIO ENHANCEMENT TECHNOLOGY TO ITS VALUE TV LINES
Semiconductor Equipment and Materials Companies
Computer Weekly News
11 May 2011
SRS
Labs, Inc. (NASDAQ: SRSL), officially recognized as one of America's Greatest
Brands and the industry leader in surround sound, audio and voice technologies,
announced a collaboration with Dixons Retail plc, parent company of retail and
e-tail brands Currys, PC World and Dixons.co.uk, to integrate SRS TruSurround
HDďż˝ within its line of Currys Essentials and Logik LCD and LED TVs.
TruSurround HD is the industry's most popular audio enhancement technology,
delivering thrilling front-rendered surround sound audio from the TV's built-in
speakers.
"Dixons
Retail is known for not only carrying the widest range of world-class brands
but for owning several well-known and respected brands," said Allen H.
Gharapetian, Vice President of Marketing for SRS Labs. "Per industry
surveys, more than three quarters of consumers rely exclusively on their TV's
built-in speakers when watching programs and movies and we are excited to be
enhancing the performance of Currys Essentials and Logik TVs and delivering a
great audio experience to European consumers, courtesy of SRS TruSurround
HD."
As
the world's most popular audio solution for flat panel TVs, SRS TruSurround HD
provides users with an immersive listening experience by processing up to 6.1
audio channels for playback over two speakers. SRS' proprietary technologies
incorporated into SRS TruSurround HD make it possible to optimize the
entertainment experience with deeper bass for more intense action sequences,
dialog clarity for better intelligibility of vocals, and definition control for
maximum high-frequency clarity. When receiving multichannel content,
TruSurround HD processes the channel information and produces an incredibly
realistic surround sound effect. Meanwhile, mono or stereo content is
seamlessly converted into an expansive three-dimensional sound field.
"We
are really pleased to be joining forces with the industry leader in surround
sound solutions and an innovator like SRS Labs to bring excellent sound quality
to our Currys Essentials and Logik TV lines," said Katie Noonan, Senior
Sourcing Operations Manager at Dixons Retail. "Both of these lines offer
excellent value for the money and the addition of great surround sound coupled
with great picture quality will ensure our customers receive a superior viewing
experience wherever they watch their TVs - in the lounge, bedroom, kitchen or
study. We are confident that our customers will be thrilled by the immersive,
engaging audio capabilities of our new SRS-equipped lines."
Designed
to deliver the ultimate home entertainment experience right out of the box,
Dixons Retail's TV lines featuring SRS TruSurround HD will be available
September of 2011 at some of the company's European retail outlets: Elkjop in
the Nordics, Kotsovolos in Greece and Electroworld in Eastern and Southern
Europe.
For
more information about this announcement, SRS or our technologies, About SRS
Labs, Inc. Founded in 1993, SRS Labs is the industry leader in audio signal
processing for consumer electronics across the four screens: TV; PC; Mobile
Phones; and Automotive Entertainment Systems. Beginning with the audio
technologies originally developed at Hughes Aircraft, SRS Labs holds over 150
worldwide patents and is recognized by the industry as the foremost authority
in research and application of audio post processing technologies based on the
human auditory principles. Through partnerships with leading global CE
companies, semiconductor manufacturers, software developers, and content
aggregators, SRS is recognized as the de facto standard in audio enhancement,
surround sound, volume leveling, audio streaming, and voice processing
technologies. SRS solutions have been included in over two billion electronic
products sold worldwide including flat panel HDTVs, AV products, STBs, PCs,
mobile phones, and automotive entertainment and telematics systems. About Dixons
Retail plc Dixons Retail plc is Europe's leading specialist electrical
retailing and services group, with retail and e-tail operations in 14 and 28
countries respectively. Dixons Retail trades through 1,200 stores and online
stores and employs 40,000 people. More than 100 million customers shop with
Dixons Retail every year.
In
May 2008, under new Chief Executive John Browett, Dixons Retail launched a
'Renewal and Transformation' strategy to improve profitability and
competitiveness. Based on a huge amount of qualitative and quantitative
research, the strategy focuses all areas of the business on the customer and
aims to deliver an unbeatable combination of Value, Choice and Service. The
company is now engaged in an intense period of activity, which will transform
the business, delivering a great shopping experience for millions of customers.
Dixons' retail and e-tail brands
include PC World, Currys and Dixons.co.uk in the UK and Ireland, Elkjop in the
Nordic countries, UniEuro and PC City in Italy, Kotsovolos in Greece, Electro
World in central Europe, and Pixmania.com across Europe. Dixons operates a
multi-channel and pure play e-commerce approach to electrical retailing and
offers customers a comprehensive range of after sales services, including support
from KNOWHOW, the UK's leading provider of technology solutions and repairs. It
also runs a multi-brand business-to-business operation in the UK.
SRS LABS ANNOUNCES PARTNERSHIP WITH DIXONS RETAIL
PLC TO ADD AUDIO ENHANCEMENT TECHNOLOGY TO ITS VALUE TV LINES
Business Wire
03 May 2011
Dixons
Retail plc, Europe is Leading Electronics Retailing and Services Group,
Incorporates SRS TruSurround HD to Deliver Immersive Surround Sound on its Own
Brand TVs
SANTA
ANA, Calif.--(BUSINESS WIRE)-- SRS
Labs, Inc. (NASDAQ: SRSL), officially recognized as one of America
Greatest Brands and the industry leader in surround sound, audio and voice
technologies, today announced a collaboration with Dixons Retail plc, parent
company of retail and e-tail brands Currys, PC World and Dixons.co.uk, to
integrate SRS TruSurround HD within its line of Currys Essentials and Logik LCD
and LED TVs. TruSurround HD is the industry most popular audio enhancement
technology, delivering thrilling front-rendered surround sound audio from the
TV built-in speakers.
Dixons
Retail is known for not only carrying the widest range of world-class brands
but for owning several well-known and respected brands said Allen H. Gharapetian,
Vice President of Marketing for SRS Labs. Per industry surveys, more than three
quarters of consumers rely exclusively on their TV built-in speakers when
watching programs and movies and we are excited to be enhancing the performance
of Currys Essentials and Logik TVs and delivering a great audio experience to
European consumers, courtesy of SRS TruSurround HD.
As
the worlds most popular audio solution for flat panel TVs, SRS TruSurround HD
provides users with an immersive listening experience by processing up to 6.1
audio channels for playback over two speakers. SRS proprietary technologies
incorporated into SRS TruSurround HD make it possible to optimize the
entertainment experience with deeper bass for more intense action sequences,
dialog clarity for better intelligibility of vocals, and definition control for
maximum high-frequency clarity. When receiving multichannel content,
TruSurround HD processes the channel information and produces an incredibly
realistic surround sound effect. Meanwhile, mono or stereo content is
seamlessly converted into an expansive three-dimensional sound field.
We
are really pleased to be joining forces with the industry leader in surround
sound solutions and an innovator like SRS Labs to bring excellent sound quality
to our Currys Essentials and Logik TV lines, said Katie Noonan, Senior Sourcing
Operations Manager at Dixons Retail. Both of these lines offer excellent value
for the money and the addition of great surround sound coupled with great
picture quality will ensure our customers receive a superior viewing experience
wherever they watch their TVs in the lounge, bedroom, kitchen or study. We are
confident that our customers will be thrilled by the immersive, engaging audio
capabilities of our new SRS-equipped lines.
Designed
to deliver the ultimate home entertainment experience right out of the box,
Dixons Retailďs TV lines featuring SRS TruSurround HD will be available
September of 2011 at some of the company’s European retail outlets: Elkjop in
the Nordics, Kotsovolos in Greece and Electroworld in Eastern and Southern
Europe.
About SRS Labs, Inc.
Founded
in 1993, SRS Labs is the industry leader in audio signal processing for
consumer electronics across the four screens: TV; PC; Mobile Phones; and
Automotive Entertainment Systems. Beginning with the audio technologies
originally developed at Hughes Aircraft, SRS Labs holds over 150 worldwide
patents and is recognized by the industry as the foremost authority in research
and application of audio post processing technologies based on the human
auditory principles. Through partnerships with leading global CE companies,
semiconductor manufacturers, software developers, and content aggregators, SRS
is recognized as the de facto standard in audio enhancement, surround sound,
volume leveling, audio streaming, and voice processing technologies. SRS
solutions have been included in over two billion electronic products sold
worldwide including flat panel HDTVs, AV products, STBs, PCs, mobile phones,
and automotive entertainment and telematics systems.
About Dixons Retail plc
Dixons
Retail plc is Europe's leading specialist electrical retailing and services
group, with retail and e-tail operations in 14 and 28 countries respectively.
Dixons Retail trades through 1,200 stores and online stores and employs 40,000
people. More than 100 million customers shop with Dixons Retail every year.
In
May 2008, under new Chief Executive John Browett, Dixons Retail launched a
Renewal and Transformation strategy to improve profitability and
competitiveness. Based on a huge amount of qualitative and quantitative
research, the strategy focuses all areas of the business on the customer and
aims to deliver an unbeatable combination of Value, Choice and Service. The
company is now engaged in an intense period of activity, which will transform
the business, delivering a great shopping experience for millions of customers.
Dixons
retail and e-tail brands include PC World, Currys and Dixons.co.uk in the UK
and Ireland, Elkjip in the Nordic countries, Uni Euro and PC City in Italy,
Kotsovolos in Greece, Electro World in central Europe, and Pixmania.com across
Europe. Dixons operates a multi-channel and pure play e-commerce approach to
electrical retailing and offers customers a comprehensive range of after sales
services, including support from KNOWHOW, the UK's leading provider of
technology solutions and repairs. It also runs a multi-brand
business-to-business operation in the UK.
Except for historical information contained
in this release, statements in this release, including those by Mr.
Gharapetian, may constitute forward-looking statements regarding our
assumptions, projections, expectations, targets, intentions or beliefs about
future events that are based on management's belief, as well as assumptions
made by, and information currently available to, management. While the Company
believes that its expectations are based upon reasonable assumptions, there can
be no assurances that the Company's goals and strategy will be realized.
Numerous factors, including risks and uncertainties, may affect the Company's
actual results and may cause results to differ materially from those expressed
in forward-looking statements made by or on behalf of the Company. Some of
these factors include the acceptance of new SRS Labsi products and
technologies, the impact of competitive products and pricing, the timely
development and release of technologies by the Company, general business and
economic conditions, especially in Asia, and other factors detailed in the
Company's Form 10-K and other periodic reports filed with the SEC. SRS Labs
specifically disclaims any obligation to update or revise any forward-looking
statement whether as a result of new information, future developments or
otherwise.
'CZECH
MOBILE OPERATORS SUSPEND TOP-UPS VIA SAZKA'
DMeurope
21 March 2011
Czech mobile operators Vodafone Czech Republic, T-Mobile Czech Republic
and Telefonica O2 Czech Republic suspended top-ups via the terminals of the
company Sazka due to unsettled receivables at Sazka. Other Vodafone top-up
means include ATMs, internet banking, more than 140 branded and franchising
stores, over 1,500 Lekkerland terminals, retail chains Globus, Rossman, Electro
World, Billa, via coupons in 15,000 shops and via Vodafone Self-Service.
T-Mobile offers top-ups via ATMs, internet banking, online via its own website,
retail chains Globus, Rossman, Electro World, Billa, offices of Tipsport and
terminals of CCS a e-va, as well as via post-paid invoices. Telefonica O2
offers the following means of top-up: from the account of a postpaid customer,
from fixed line, via ATMs, coupons, internet banking, GSM banking, operator of
a bank, retail chains Rossman, Globus, Billa, Jednota, COOP, Datart,
Electroworld and other, terminals of partners (Agip, Aral, Benzina, OMV, Shell,
Tipsport).
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. 44.04 |
|
|
1 |
Rs. 72.40 |
|
Euro |
1 |
Rs. 63.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--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 |
|
46 |
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.