MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
R. S. COMPUTER ENTERPRISES PRIVATE LIMITED |
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Registered
Office : |
96 Swamy Naicken Street, Chindhadripet, Chennai – 600002, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.01.2006 |
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Com. Reg. No.: |
18-058519 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.915 Millions |
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CIN No.: [Company Identification
No.] |
U52392TN2006PTC058519 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHER08126G |
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PAN No.: [Permanent Account No.] |
AADCR1971R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distribution
of computer software and peripherals |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 38000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
caution. |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
96 Swamy Naicken Street, Chindhadripet, Chennai – 600002, Tamilnadu,
India |
|
Tel. No.: |
91-44-42627000 /
42924292 / 64525252 |
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Fax No.: |
91-44-42924242 / 64525252 |
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E-Mail : |
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Branches : |
Located at : ·
Bangalore ·
Kolkata ·
Tuticorin ·
Sivakasi ·
Madurai |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Om Prakash Bagri |
|
Designation : |
Director |
|
Address : |
No. 3, Sembudoss Street, Chennai – 600001, Tamilnadu, India |
|
Date of Appointment : |
06.01.2006 |
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DIN No. : |
00601996 |
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|
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|
Name : |
Mr. Rajeev Bagri |
|
Designation : |
Director |
|
Address : |
No. 3, Sembudoss Street, Chennai – 600001, Tamilnadu, India |
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Date of Appointment : |
06.01.2006 |
|
DIN No. : |
00602016 |
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|
|
|
Name : |
Mr. Murli Dhar Bagri |
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Designation : |
Director |
|
Address : |
23 A, Netaji Subash Road, Kolkata – 700001, West Bengal, India |
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Date of Birth/Age : |
15.05.1940 |
|
Date of Appointment : |
18.08.2008 |
|
DIN No. : |
02304806 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Om Prakash Bagri |
|
4000 |
|
Mr. Rajeev Bagri |
|
9000 |
|
Ankit
Jain |
|
10 |
|
Kamala Devi Bhatera |
|
10 |
|
Madhu Bhatera |
|
7510 |
|
Monika Bhatera |
|
10010 |
|
Omprakash
Bagri HUF |
|
5010 |
|
Pratap
Kumar Bhatera HUF |
|
10 |
|
Pooja
Bagri |
|
3510 |
|
Rajeev
Bagri and Sons HUF |
|
1010 |
|
Raj Kumar Bagri |
|
3510 |
|
Sandeep Bagri |
|
510 |
|
Sindhu Devi Bhatera |
|
10 |
|
Sushila
Jain |
|
3000 |
|
O.
P. Bagri and Sons HUF |
|
1000 |
|
Sandeep Bagri HUF |
|
1000 |
|
Sunita
Bagri |
|
10 |
|
Manish Bagri |
|
10 |
|
Raj
Kumar Bagri |
|
10 |
|
Murlidhar
bagri |
|
10 |
|
Total |
|
49150 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
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|
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Directors or relatives of directors |
|
100.00 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distribution
of computer software and peripherals |
GENERAL INFORMATION
|
Bankers : |
·
Citi Bank N. A., 163, Anna Salai, Second Floor,
Chennai – 600002, Tamilnadu, India ·
ICICI Bank ·
Andhra Bank ·
Kotak Mahindra Bank |
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Facilities : |
Rs in Millions
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Vivek Kumar Agarwal and Company Chartered Accountants |
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Address : |
New No. 31, Armunian Street, 2nd Floor, Chennai – 600001,
Tamilnadu, India |
|
PAN No. : |
AEBPA0746C |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Share |
Rs. 100/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49150 |
Equity Share |
Rs. 10/-
each |
Rs. 4.915
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.915 |
4.915 |
2.411 |
|
|
2] Share Premium and God’s A/c |
2.501 |
2.500 |
5.000 |
|
|
3] Reserves & Surplus |
2.147 |
1.475 |
0.804 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
9.563 |
8.890 |
8.215 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.135 |
0.270 |
0.000 |
|
|
2] Unsecured Loans |
7.549 |
5.217 |
3.259 |
|
|
TOTAL BORROWING |
7.684 |
5.487 |
3.259 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
17.247 |
14.377 |
11.474 |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.061 |
0.878 |
0.664 |
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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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|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.487
|
5.282 |
3.936 |
|
|
Sundry Debtors |
12.900
|
8.043 |
5.390 |
|
|
Cash & Bank Balances |
0.450
|
0.499 |
1.559 |
|
|
Other Current Assets |
1.866
|
1.531 |
0.702 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
21.703
|
15.355 |
11.587 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.064
|
1.196 |
0.330 |
|
|
Other Current Liabilities |
0.219
|
0.101 |
0.218 |
|
|
Provisions |
0.296
|
0.640 |
0.329 |
|
Total
Current Liabilities |
5.579
|
1.937 |
0.877 |
|
|
Net Current Assets |
16.124
|
13.418 |
10.710 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.062 |
0.081 |
0.100 |
|
|
|
|
|
|
|
|
TOTAL |
14.247 |
14.377 |
11.474 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
84.291 |
51.743 |
|
|
|
Other Income |
|
5.336 |
4.164 |
|
|
|
TOTAL (A) |
|
89.627 |
55.907 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
76.845 |
46.222 |
|
|
|
Direct Expenses |
|
0.325 |
0.090 |
|
|
|
Personnel Cost |
|
6.204 |
4.735 |
|
|
|
Administrative Expenses |
|
3.141 |
2.140 |
|
|
|
Selling Expenses |
|
0.700 |
0.584 |
|
|
|
TOTAL (B) |
|
87.215 |
53.771 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2.412 |
2.136 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.238 |
0.782 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.174 |
1.354 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.215 |
0.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.959 |
1.054 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
0.287 |
0.383 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
0.672 |
0.671 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
1.475 |
0.804 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
2.147 |
1.475 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
20.78 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.75
|
1.20 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.14
|
2.04 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.21
|
6.49 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.12 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
0.84 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.89
|
7.93 |
13.21 |
LOCAL AGENCY FURTHER INFORMATION
Registered office of the company has been shifted from No. 144, Broady
(Shop No. 172) Chennai 108, Tamilnadu to the present address w.e.f. 01.04.2010
FINANCIAL RESULTS
The Profit and Loss Account of the company shows a Net Profit amounting
to Rs. 0.959 Million
GENERAL
REVIEW
The company’s performance was not satisfactory during the year. The
company could not achieve its turnover as well it could not achieve its target
of Net Profit. The Directors are hopeful that the company shall be able to achieve
its target of Net Profit in the year to come. The future of the company seems
to be bright.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U52392TN2006PTC058519 |
|
Name of the company |
R.S. COMPUTER ENTERPRISES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
96 Swamynaicken Street, Chindhadripet, Chennai – 600002, Tamil Nadu,
India |
|
This form is for |
Creation
of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Stocks |
|
Particular of charge holder |
CITI BANK N.A. 163, Anna Salai, Second Floor, Chennai – 600002, Tamil Nadu, INDIA |
|
Nature of instrument creating charge |
Goods Security Agreement |
|
Date of instrument Creating the charge |
02.08.2010 |
|
Amount secured by the charge |
Rs. 20.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
(a)
Rate of interest As may be stipulated by the bank from time to time (b)
Terms of repayment All facilities are repayable on demand (c)
Margin As agreed from time to time. (d)
Extent and operation of the charge First exclusive charge on present and future current assets including
stock, book debts and moveable assets |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First exclusive charge on present and future current assets including
stock, book debts and moveable assets |
FIXED ASSETS
·
Aircondition
·
Cellphone
·
Scar
·
Furniture and Fittings
·
Computer
·
Cycle
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.44.28 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.