MIRA INFORM REPORT

 

 

Report Date :

03.08.2011

 

IDENTIFICATION DETAILS

 

Name :

INTEX TECHNOLOGIES (INDIA) LIMITED

 

 

Registered Office :

D-18/2, Okhla Industrial Area, Phase -2, New Delhi – 110020

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010 (9 Months)

 

 

Date of Incorporation :

22.01.1996

 

 

Com. Reg. No.:

55-75672

 

 

Capital Investment / Paid-up Capital :

Rs.100.117 Millions

 

 

CIN No.:

[Company Identification No.]

U72300DL1996PLC075672

 

 

Legal Form :

A Closely Held Public Limited Liability Company.

 

 

Line of Business :

Manufacturers, Importers and Distributors of Computers Peripherals and Hardware Items.

 

 

No. of Employees :

200+ (Approximately)

 

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 1200000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

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

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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 :

Ms. Priyanka

Designation :

Accountant

Contact No.:

91-11-43192200

 

 

LOCATIONS

 

Registered/ Corporate Head Office :

D-18/2, Okhla Industrial Area, Phase -2, New Delhi – 110020, India

Tel. No.:

91-11-43192200/ 43192242/ 41610224/ 25/ 26/ 41610221/ 43192218/ 43192200

Fax No.:

91-11-41610221/ 41610190

E-Mail :

intex@giasdl01.vsnl.net.in

info@intextechnologies.com

cs@intextechnologies.com

intexcare@intextechnologies.com

Website :

http://www.intextechnologies.com

http://www.intexindia.com

Area :

22600 sq. ft.

Location :

Leased

 

 

Production Unit :

Song Gang Town, Bao’an Distric Shenzhen

Area :

13200 sq. meteres

 

 

Branch Office :

Located at:

 

·         Ahmedabad

·         Bangalore

·         Mumbai

·         Chennai

·         Secunderabad

·         Kolkata

·         Bhubaneshwar

·         Indore

·         Jaipur

·         Kaloor

·         Patna

·         Jamshedpur

·         Ludhiana

·         Meerut

·         Lucknow

·         Roorkee

·         Himachal Pradesh

·         Gurgaon

·         Pune

·         Chandigarh

·         Cochin

·         Coimbatore

·         Dehradun

·         Delhi

·         Guwahati

·         Jammu

·         Raipur

·         Siliguri

·         Visakhapatnam

 

 

DIRECTORS

 

(AS ON 29.09.2010)

 

Name :

Mr. Narendra Bansal

Designation :

Chairman cum Managing Director

Address :

E-227, W-4D-18, Western Avenue, Sainik Farms, New Delhi, India

Date of Birth/Age :

25.08.1963

Date of Appointment :

01.12.2004

DIN No.:

00058044

 

 

Name :

Mr. Alpa Bansal

Designation :

Director

Address :

E-227, W-4D-18, Western Avenue, Sainik Farms, New Delhi, India

Date of Birth/Age :

06.03.1969

Date of Appointment :

30.09.2004

DIN No.:

00058854

 

 

Name :

Mr. Ramesh Vaswani

Designation :

Director

Address :

M-155, Greater Kailash – II, New Delhi, India

Date of Birth/Age :

25.05.1942

Date of Appointment :

01.11.2006

DIN No.:

00449428

 

 

Name :

Mr. Indresh Narain

Designation :

Director

Address :

D-7/1, Vasant Vihar, New Delhi, India

Date of Birth/Age :

09.11.1944

Date of Appointment :

01.10.2007

DIN No.:

00501297

 

 

Name :

Mr. Bharat Chadha

Designation :

Director

Address :

C-14, Greater Kailash Enclave- 1, New Delhi, India

Date of Birth/Age :

26.05.1937

Date of Appointment :

07.08.2007

DIN No.:

00298713

 

 

KEY EXECUTIVES

 

Name :

Ms. Priyanka

Designation :

Accountant

 

 

Name :

Mr. Rahul Prasad

Designation :

Company Secretary

Address :

H. No.1451, Sector – 15, Faridabad  121007, Haryana India

Date of Birth/Age :

13.07.1975

Date of Appointment :

01.04.2010

PAN No.:

ALXPP2706L

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(AS ON 29.09.2010)

 

Names of Shareholders

 

No. of Shares

 

 

 

Narendra Bansal

 

9408940

Sanjay Bansal

 

2100

Sunil Bansal

 

2100

Alpa Bansal

 

477600

Kavita Bansal

 

15000

Intex Infra Projects Private Limited, India

 

90000

Ramesh Vaswani

 

5000

Suresh Gupta

 

5000

Bhanwar Bansal

 

6000

 

 

 

Total

 

10011740

 

 

(AS ON 30.09.2010)

 

Category

 

Percentage

 

 

 

Bodies corporate

 

0.72

Directors or relatives of directors

 

99.24

Other top fifty shareholders

 

0.04

 

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers, Importers and Distributors of Computers Peripherals and Hardware Items.

 

 

Products :

Products Description

 

Item Code No.

Sub-Woofer

85181000

PC’s/ Notebooks

84713010

Cabinet / SMPS

84733099

Mobile Phone

85171210

 

·         Personal Computers

·         TFL-LCD Monitors

·         Subwoofers

·         Cabinet

·         Keyboards

·         Mouse

·         Headphone

·         Speakers

·         Web Camera

·         UPS

·         Battries

·         SMPS

·         Add on Cards

·         Add on Products

·         Networking Products

·         CD-R and DVD-R

·         LAN and WAN (wire and wireless)

·         DVD Players

·         Peripherals

 

 

Terms :

 

Selling :

L/C, Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

 

PRODUCTION STATUS (AS ON 31.03.2010)

 

Particulars

 

Licensed Capacity

Installed Capacity *

Actual Production

 

 

 

 

 

Power Generation (Wind Mill)

 

NA

4,650,000

2,955,337

 

 

 

 

 

 

* Taken as certified by the management.

 

 

GENERAL INFORMATION

 

Customers :

Distributors

 

 

No. of Employees :

200+ (Approximately)

 

 

Bankers :

·         State Bank of Mysore, Naya Bazar, Delhi, India

·         State Bank of Patiala, Naya Bazar, Delhi, India

·         State Bank of India, New Delhi

·         CITI Bank

·         Lord Krishna Bank Limited

·         HDFC Bank Limited

 

·         ICICI Bank Limited,

59, Shakuntla Tower, Nehru Place, New Delhi – 110 019, India

 

·         Bank of Punjab Limited,

89, Hemkunt Chamber, Nehru Place, New Delhi – 110 019, India

 

·         Axis Bank

4/10, OPG House, Asaf Ali Road, New Delhi – 110002, India

 

 

Facilities :

Secured Loans

31.03.2010

31.03.2009

 

 

(Rs. In Millions)

From Banks

 

 

A. Term Loan

 

 

From State Bank of India

 - Rupee Loan*

67.161

21.714

 

 

 

Others

- Vehciles Loans **

2.661

3.654

 

 

 

B. Working Capital Loan

 

 

From State Bank of India ***

 

 

 - Foreign Currency Loan

65.290

52.941

 - Rupee Loan

58.467

153.595

 

 

 

From Axis Bank****

 

 

 - Foreign Currency Loan

50.316

37.140

 - Rupee Loan

15.077

18.685

 

 

 

Total

 

258.972

287.729

 

NOTE:

 

* RUPEE LOAN - SECURED AGAINST

a) Primary Security : Assets financed by the Bank inclusive of Equitable Mortgage of respective lands on which Wind Mills are installed.

 

b) Collateral Security:

(i) Second charge on all Current Assets,

(ii) Equitable Mortgage on pari pasu basis on property at (a) Plot No.3, Ravi Appts., Chandralok Colony, Indore, (b) 201 and B1, Platinum Plaza, Near Judge Bunglow, Vastrapur, Ahmedabad and (c) Cellar Unit A, Shop No. 3 (GF), Yash Complex, Lad Society Road, Vastrapur, Ahmedabad,

(iii) Pari pasu charge on mutual funds in the name of Mr. Narendra Bansal and Mrs. Alpa Bansal, directors of the Company,

(iv) Pari pasu charge on STDR with SBI in the name of Mr. Narendra Bansal, Managing Director of the Company

(v) Pari pasu charge on mutual funds in the name of the Company

(vi) pari pasu charge on fixed deposit with SBI in the name of Company.

 

c) Personal guarantee of Directors namely Mr. Narendra Bansal and Mrs. Alpa Bansal.

 

Note:

Installments falling due within a year Rs.20.200 Millions.

 

 

**VEHICLE LOANS - SECURED AGAINST

Hypothecation of respective vehicles

 

Note:

Installments falling due within a year Rs.1.519 Millions

 

 

*** FROM STATE BANK OF INDIA - SECURED AGAINST

a) First pari pasu charge by way of hypothecation of Finished Goods, Stores, Spares including Goods in Transit and Book Debts of the Company both present and future.

 

b) Collateral Security:

(i) Second charge on entire Fixed Assets of the Company,

(ii) Equitable Mortgage on pari pasu basis on property at (a) Plot No.3, Ravi Appts., Chandralok Colony, Indore, (b) 201 and B1, Platinum Plaza, Near Judge Bunglow, Vastrapur, Ahmedabad and (c) Cellar Unit A, Shop No. 3 (GF), Yash Complex, Lad Society Road, Vastrapur, Ahmedabad,

(iii) Pari pasu charge on mutual funds in the name of Mr. Narendra Bansal and Mrs. Alpa Bansal, directors of the Company,

(iv) Pari pasu charge on STDR with SBI in the name of Mr. Narendra Bansal, Managing Director of the Company,

(v) Pari pasu charge on mutual funds in the name of the Company and

(vi) Pari pasu charge on fixed deposit with SBI in the name of Company.

 

c) Personal guarantee of Directors namely Mr. Narendra Bansal and Mrs. Alpa Bansal.

 

 

**** FROM AXIS BANK - SECURED AGAINST

a) First charge by way of hypothecation of Finished Goods, Stores, Spares including Goods in Transit and Book Debts of the Company both present and future.

b) Collateral Security: (i) Second charge on entire Fixed Assets of the Company, (ii) Equitable Mortgage on pari pasu basis on property at (a) Plot No.3, Ravi Appts., Chandralok Colony, Indore, (b) 201 and B1, Platinum Plaza, Near Judge Bunglow, Vastrapur, Ahmedabad and (c) Cellar Unit A, Shop No. 3 (GF), Yash Complex, Lad Society Road, Vastrapur, Ahmedabad, (iii) pari pasu charge on mutual funds in the name of Mr. Narendra Bansal and Mrs.  Alpa Bansal, directors of the Company, (iv) Pari pasu charge on STDR with SBI in the name of Mr. Narendra Bansal, Managing Director of the Company, (v) Pari pasu charge on mutual funds in the name of the Company and (vi) Pari pasu charge on fixed deposit with SBI in the name of Company.

c) Personal guarantee of Directors namely Mr. Narendra Bansal and Mrs. Alpa Bansal.

 

Unsecured Loans

31.03.2010

31.03.2009

 

 

(Rs. In Millions)

 

 

 

From Others

 

 

Intercorperate deposit

--

5.937

 

 

 

Total

--

5.937

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. S. Kothari Mehta and Company

Chartered Accountants

Address :

146-149, Tribhuvan Complex, Ishwar Nagar, Mathura Road, New Delhi – 110065, India

Tel. No.:

91-11-27377451/ 3922

Mobile No.:

91-9811075811

Fax No.:

91-11-27377451

 

 

Associates/ Subsidiary :

·         Intex Infosolution Limited

·         Intex Mobile Limited (formerly, Whiteline Telcom Limited )

·         Frontline Information Systems Private Limited

·         Intex Infraprojects Private Limited (formerly, Intex Journeys Private Limited)

·         Peak Securities Private Limited

·         Intex Industries

·         Kipav Industries

·         Intex Industries-Mannpura

 

 

CAPITAL STRUCTURE

 

(AS ON 31.03.2010)

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12500000

Equity Share

Rs.10/- each

Rs.125.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10011740

Equity Share

Rs.10/- each

Rs.100.117 Millions

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

(9 months)

30.06.2009

(15 months)

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

100.117

100.117

80.117

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

193.856

149.989

79.877

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

293.973

250.106

159.994

LOAN FUNDS

 

 

 

1] Secured Loans

258.972

287.729

261.637

2] Unsecured Loans

0.000

5.937

0.000

TOTAL BORROWING

258.972

293.666

261.637

DEFERRED TAX LIABILITIES

7.107

1.321

1.208

 

 

 

 

TOTAL

560.052

545.093

422.839

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

221.000

127.894

114.981

Capital work-in-progress

19.092

10.723

12.861

 

 

 

 

INVESTMENT

14.511

5.511

0.010

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
327.469

446.984

312.439

 

Sundry Debtors
173.691

309.946

178.231

 

Cash & Bank Balances
115.424

151.693

14.675

 

Other Current Assets
3.488

2.005

0.425

 

Loans & Advances
325.181

237.095

102.428

Total Current Assets
945.253

1147.723

608.198

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
346.444

486.423

135.309

 

Other Current Liabilities
166.993

149.966

126.459

 

Provisions
126.367

110.369

51.443

Total Current Liabilities
639.804

746.758

313.211

Net Current Assets
305.449

400.965

294.987

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

560.052

545.093

422.839

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2010

(9 months)

30.06.2009

(15 months)

31.03.2008

 

SALES

 

 

 

 

 

Income

4422.419

6195.267

3257.843

 

 

Other Income

12.783

25.176

19.605

 

 

TOTAL                                     (A)

4435.202

6220.443

3277.448

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

3417.917

4793.987

2649.143

 

 

Personnel Expenses

207.247

242.132

171.310

 

 

Office and Administrative Expenses

71.707

213.269

115.433

 

 

Selling and Distribution Expenses

612.909

754.765

228.354

 

 

TOTAL                                     (B)

4309.780

6004.153

3164.240

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

125.422

216.290

113.208

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

25.941

71.660

52.527

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

99.481

144.630

60.681

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

15.966

17.321

10.738

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

83.515

127.309

49.943

 

 

 

 

 

Less

TAX                                                                  (H)

16.260

45.484

14.163

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

67.255

81.825

35.780

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

149.689

79.577

0.082

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

5.044

0.000

0.000

 

 

Interim Dividend

10.012

0.000

0.000

 

 

Proposed Dividend

10.012

10.012

8.012

 

 

Corporate Dividend Tax

3.364

1.701

1.362

 

BALANCE CARRIED TO THE B/S

188.512

149.689

26.488

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Traded Goods

2213.770

2977.008

NA

 

 

Others

0.000

0.000

NA

 

TOTAL IMPORTS

2213.770

2977.008

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.72

9.43

5.00

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

(9 months)

30.06.2009

(15 months)

31.03.2008

PAT / Total Income

(%)
1.52

1.32

1.09

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
1.89

2.05

1.53

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
7.16

9.98

6.91

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.28

0.51

0.31

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
3.06

4.16

3.59

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.48

1.54

1.94

 

 

 

 

 

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CONTINGENT LIABILITIES

 

a. Claims against the company not acknowledged as debt:

 

Particulars

31.03.2010

 

31.03.2009

 

(Rs. In millions)

 

 

 

Excise Matters

1.031

1.031

Sales Tax Matters

1.973

2.001

 

 

 

Total

3.004

3.032

 

b. Bank guarantees given by bank on behalf on the company for various matters amounting to Rs.2.510 Millions. (Previous year: Rs.2.419 Millions)

 

 

FORM 8:

 

Corporate identity number of the company

U72300DL1996PLC075672

Name of the company

INTEX TECHNOLOGIES (INDIA) LIMITED

Address of the registered office or of the principal place of  business in India of the company

D 18/2 Okhla Industrial Area Phase II, New Delhi – 110020, India

cs@intextechnologies.com

This form is for

Modification of charge

Type of charge

10135069

Particular of charge holder

Immovable property

Nature of instrument creating charge

Axis Bank Limited

4/10, OPG House, Asaf Ali Road, New Delhi – 110002, India

geetu.kalra@axisbank.com

Date of instrument Creating the charge

Recital for Deposit of title deed with State Bank of India

Amount secured by the charge

21.02.2011

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

As per Previous charge on 18.02.2011

 

Terms of Repayment:

Repay on demand

 

Margin:

As per previous charge dated 18.02.2011

 

Extent and Operation of the charge:

Total Limit enhanced to Rs.280.000 Millions cash credit Rs.60.000 Millions, WCDL (within CC Limit) Rs.60.000 Millions, FCDL/FCNR (within Cash credit Limit) 60.000 Millions and LC/SBLC/LOU buyers credit Rs.220.000 Millions. Secured by first pari passu charge present and future current assets and 2nd pari passu charge on movable and immovable fixed assets of the company. Collaterally secured by EM of properties on first pari passu basis along with other WC bankers and term lenders

Particulars of the property charged

First pari passu charge by way of hypothecation of present and future current assets of the company along with other WC bankers presently SBI and Yes Bank.

 

Collaterally secured by Equitable mortgage on first pari passu basis along with other WC bankers and term lenders on the following properties :-

1.) Plot No.-3 Ravi Apartments Chandralok Colony, Indore, super Built up area 2514 sq. ft.

2.) 201 and B/1, Platinum Plaza, Near Judge Bunglow Vastrapur, Ahmedabad buit up area 4641 sq. ft.

3.) Cellar unit A, Shop No-3, (GF) Yash Complex, lad society Road, Vastrapur, Ahmedabad, built up area 1422 sq. ft.

 

Equitable mortgage on first pari passu basis along with other WC bankers on property located at 205, Block-D, sector-63, Noida.

 

Second pari passu charge on movable and immovable fixed assets of the company along with other WC bankers.

 

First pari passu charge by way of lien to the extent of our share along with WC bankers and term lender on following assets held by the company or promoters in their personal capacity:- mutual fund Rs.29.500 Millions. in the name of promoters, mutual fund Rs.16.900 Millions. in the name of company and FDRs Rs.4.300 Millions in the name of promoters.

Particulars of the present modification

Now the charge is also secured by EM by deposit of title deeds in respect of cos immovable properties situated at a) Sector - 63, Noida b) Yash Complex, Ahmedabad c) Platinum plaza, Ahmedabad d) Ravi Apt, Indore,

 

 

FIXED ASSETS:

 

·         Freehold Land

·         Leasehold Land

·         Building

·         Leasehold Improvements

·         Office Equipments

·         Furniture and Fixtures

·         Computers and Components

·         Vehicles

 

 

 

WEBSITE DETAILS:

 

COMPANY PROFILE

 

Company is a 15-year-old IT Hardware, Mobile Phones and Electronics Company, headquartered at New Delhi. It has a pan-India presence though its own network of 35 offices and 500+ service points.

 

Brand 'Intex' covers 9 business segments- Computer Peripherals, Mobile Phones, PC, Consumer Electronics, Security Software, Power Electronics, Retail, Enterprise and International Business. It has built for itself a high credibility amongst its vast network of channel partners and several million satisfied end users by offering value-for-money quality products supported by effective service and a consistent policy of transparent, fair and ethical dealings.

 

The business segments cover a portfolio of 28 Product Groups spread across 350 items including Mobile Phones (Dual and Triple SIM), Multimedia Speakers, Desktops, TFT-LCD/LED monitors, LCD and CRT TVs, DVD players, Computer UPS, Cabinets, Headphones, Web Cameras, Security Software (Antivirus) to name just a few. In Computer UPS, INTEX occupies 1st position as the most selling brand as per the quarterly IDC Tracker. For several other product groups such as Multimedia Speakers, Keyboards, Mouse, Add-on cards, etc. also, company enjoys a market share in many states in India.

 

Sales are routed through a channel network comprising of 3000+ distributors and 20,000+ dealers spread across the country. The company launched its chain of exclusive retail outlets- INTEX SQUARE in Sep, 2009 and has opened 80 stores so far. Products are also available at more than 130 dedicated counters of reputed chains of hyper markets and specialty stores across the country.

 

Company‘s manufacturing domain comprises of three manufacturing units belonging to the Group located at Jammu (30,000 sq. ft. and 20,0000 sq. ft built-up area) and Manpura (Baddi, HP) (51,000 sq. ft). The units have been producing desktops, multimedia speakers and PCBs and had also produced UPS, home UPS, notebooks and DVD players in the past. The company intends to vertically integrate backwards into manufacturing of more products and also bring in foreign technology from global leaders.

 

During the last 8 financial years, the company turnover has increased from Rs.320.000 Millions in 2001-02 to Rs.7330.000 Millions in FY 2010-11 (at a CAGR of 32% over the last 5 financial years). Our aggressive growth journey has been recognized by reputed IT trade journals. Dataquest has been rating 200 fastest growing IT companies in India, covering both Software and Hardware. Company has improved its ranking in this survey in the last 6 years from 108 to 87.

 

The company has also been recognized by consumers and channel partners through various rankings and awards received over the years. Some recent highlights are:

 

 

·         Most visible Indian Brand, Best Multimedia Speaker and User Friendly UPS by NCN, May 2011.

 

·         Best Peripherals Brand by Digital Terminal Magazine May 2011

 

·         Amongst the Top 300 most trusted brands of the country, The Brand Trust Report, Jan, 2011

 

·         A score of 9.5 (out of 10) and a place amongst the Top 10 Innovations for INTEX Mobile Phone V.SHOW (India’s first mobile phone with in-built projector) by Rajiv Makhani on the popular show- Cell Guru- aired on NDTV India and NDTV profit, Dec, 2010

 

·         SMB Champion Award from Intel, August, 2010

 

·         Digit magazine’s Best Buy Award for INTEX mobile phone IN 2020 Elegant, April, 2010 edition

 

·         Largest selling brand in UPS category as per IDC India Q 2, 2009 Tracker-Market Review (August, 2009)

 

·         A score of 9.1 (out of 10) for INTEX Mobile Phone IN 4495 by Rajiv Makhani on the popular show- Cell Guru- aired on NDTV India and NDTV profit.

 

·         Intel Premier Partnership (IPP) Track I channel association with Intel (March, 2009)

 

·         Best Value award for Intex Gaming Keyboard in Chip magazine, (February, 2009)

 

·         Company is the most persuasive brand (in PCs) as per a survey on India's Favorite IT Brands in PC Quest (September, 2008) 

 

·         Recommended Award for Intex IT 22 TV LCD Monitor from AV MAX Magazine (October, 2008)

 

·         Innovation Champion and Star Achiever award from Intel (December, 2007, June, 2008 and November, 2008)

 

·         'Special Commendation' medal from Indian Trade Promotion Organisation (ITPO) in IT and Electronics category at India International Trade Fair (IITF) (November, 2007)

 

·         'Best Buy' Award for Intex Platinum PC in Digit (September, 2007)

 

·         'Best Buy Silver' Award for Intex mobile phone- Infi in Digit (May, 2007)

 

The brand has now been growing beyond computer peripherals. Over the last 3-4 years, company has expanded its product offerings by adding more products with a consumer interface such as Mobile Phones, LCD TVs, DVD Players, TFT-LCD /LED Monitors, Desktop PCs, Antivirus and Internet Security, etc.

 

Company is ISO 9001:2008 certified. All India sales and service operations are managed on a world-class collaborative business solution- SAP. The after-sales service solutions are web enabled (e-service). Company’s own Virtual Private Network roll-out has also begun. Total Quality Management (TQM) and Business Intelligence initiatives have also been launched.

 

The company has a strong Centre for Design and Development in Delhi which is well-equipped with modern facilities and highly qualified engineers looking after product development, specifications, benchmarking, quality up-gradation, technology development and scanning, etc. This activity ensures that state-of-the-art products are offered as per the latest global standards.

 

One of the most valuable assets of the company is its team of more than 1800 employees with over 9000 man years of experience. The average age of an Company employee is 30 years. Company acknowledges the support and co-operation provided to the company by its dedicated network of channel partners and the hard work of its employees.

 

 

 

MR. NARENDRA BANSAL

(Chairman and Managing Director)

 

Mr. Narendra Bansal, 47, is the CMD of Company. He is a first generation entrepreneur and a 'visionary' in the true sense.

Mr. Bansal is the driving force behind Intex. In the year 1993, Mr. Bansal identified IT Hardware as a field with high growth potential and initiated the incorporation of subject in 1996. He started business that year with just one item - Ethernet Cards under INTEX brand and had to face severe competition from various MNC brands who ruled the market.

 

With his keen interest about the products and their manufacturers located in Taiwan and China, he was able to rapidly expand the product range to over 26 product categories including Computer Peripherals, Mobile Phones, PCs, TFT-LCD / LED Monitors, Mobile Phones, LCD TVs, DVD Players, Home Theatre Solutions, Multimedia Speakers, Headphones, Web Cameras, etc. Now, the conglomerate has three manufacturing associate units at Jammu and Himachal Pradesh.

 

In an independent survey by Data Quest magazine, of India’s fastest growing 200 IT companies, company has been rated at 101. In the last 5 years, company has moved up in rank from 108 to 101 and, now 87. This survey covers both Software and Hardware companies.

 

Under his dynamic leadership, the growth at company has seen a substantial acceleration. Company turnover, which reached a level of Rs.320.000 Millions in the first six years of business (2002) has since increased to 5930.000 Millions in next eight years (2010), with a CAGR of 38% (over last five years). Head count has gone up from 150 to more than 1800.

 

Mr. Bansal is a hands-on Manager who believes in walking the talk and managing his business through systems and processes. Considering company's diversification into various new verticals and requirements of the ever-changing business environment, the company has upgraded its operations from its own home grown ERP to SAP.

 

Mr. Narendra Bansal finished his graduation in Commerce from Delhi University. Driven by a strong desire to build business and discharge social responsibilities, his family runs charitable educational and health activities for the benefit of the urban under-privileged people of Delhi. He is also a member of various organisations working towards social causes like Rotary Club of Ashoka, Manthan and Rajasthan Club.

 

 

MR. RAMESH A. VASWANI

(Executive Vice Chairman)

 

Ramesh A. Vaswani, 67, is the Executive Vice Chairman of company, New Delhi and is responsible for organizational and business development, strategic decisions and overseeing the operations..

 

A gold medalist in Mechanical Engineering from the Indian Institute of Technology-Madras, Chennai, Ramesh Vaswani has 44 years of vast and rich industry experience in various sectors in India and overseas, including refrigeration, diesel engines, automotive components, plastics processing and packaging, small appliances, electric motors, industrial flexible metal hoses, Software applications, IT hardware, etc. He has been a member of various committees at Confederation of Indian Industry (CII) and PHD Chamber and was also Vice-Chairman of Indo-Italian Chamber of Commerce and Industry (NR). Currently he is a member of CII National Committee on ICTE Hardware Manufacturing.

 

He started his career in 1965 as a Senior Management Trainee with the reputed Shriram Group, Delhi and held several senior positions over a period of 14 years. His last assignment in the Group was that of General Manager of an Automotive Component manufacturing company where he was responsible for turning around the sick company and bringing in a fresh Technical Collaboration agreement with a globally reputed Japanese manufacturer. In 1979 he took up an overseas assignment for 5 years, as Managing Director of two manufacturing companies of CHELLARAM Group in Nigeria. He successfully turned around the 2 sick companies and also brought in new technology to Nigeria for local manufacturing of a widely used sophisticated flexible packaging film. On returning to India in 1984, he was Vice President of INALSA, Delhi where he set up 2 new businesses, Appliances Division and Flexitubes Division. The latter was hived off as a JV and finally taken over by a British MNC.

 

From engineering industry he switched over to IT industry in 1999 and was Managing Director of a Software company offering Baan ERP solutions, SAS Data Warehousing solutions, etc. In 2000 he established an alliance with a leading Canadian company for a large Indian Group to set up a new business, dealing in high-speed wireless data transfer radios. This business was moved in 2002 to INTEX Group.

 

During his career, Ramesh Vaswani has taken a keen interest in development of systems and processes and human assets. His aptitude for designing relevant MIS reports, analysis of data, trouble shooting and root cause analysis have been instrumental in turning around sick companies and substantial improvements in internal efficiency of many companies. Many of his trainees and reportees are holding key senior positions in reputed companies in India and overseas.

 

Ramesh Vaswani has been with company for 8 years. Under his leadership, the growth at company has seen a substantial acceleration. Incorporated in 1996, company achieved a turnover of Rs.320.000 Millions in the sixth year (2002) of business which was stepped up to 5930.000 Millions in the next 8 years (2010), giving a CAGR of 38 % (over last five years) and a growth rate of 2-3 times the industry growth rate. In the last Annual Survey conducted by Dataquest in July 2010, company was ranked 87, amongst the 200 fastest growing IT companies in India. Company product range covers IT Hardware, Mobile Phones and Electronics including INTEX branded Computer Peripherals, Mobile Phones, PCs, TFT-LCD / LED Monitors, Mobile Phones, LCD TVs, DVD Players, Home Theatre Solutions, Multimedia Speakers, Headphones, Web Cameras, 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.44.23

UK Pound

1

Rs.72.09

Euro

1

Rs.62.99


 

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

5

--LIQUIDITY

1~10

6

--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

 

48

 

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

 

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.