MIRA
INFORM REPORT
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Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
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Name : |
HARDTRAC COMPUTER SERVICES PRIVATE LIMITED |
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Registered Office : |
78/ 80, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.06.1993 |
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Com. Reg. No.: |
11- 72586 |
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Capital Investment / Paid-up Capital : |
Rs. 0.855 Million |
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CIN No.: [Company
Identification No.] |
U52392MH1993PTC072586 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Dealer and Distributors of Computer Peripherals. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 14000 |
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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 an well established company having satisfactory track.
Financial position of the company appears to be sound. 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.
INFORMATION PARTED BY (GENERAL DETAIL)
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Name : |
Mr. Bimal Jhaveri |
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Designation : |
Director |
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Contact No.: |
91-9820035799 |
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Date : |
29.06.2011 |
LOCATIONS
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Registered Office : |
78/80, |
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Tel. No.: |
91-22-66347435/ 66342119 |
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Mobile No.: |
91-9820035799 / 9323470918 (Mr. Bimal Jhaveri) |
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Fax No.: |
91-22-66342118 |
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E-Mail : |
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Website : |
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Area : |
300 sq. ft |
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Location : |
Owned |
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Branch Office : |
323, Aabid House, Shop No. 162, |
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Area : |
400 sq. ft |
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Location : |
Rented |
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Branch Office : |
Located at: ·
Kandivali ·
Andheri ·
Miraroad ·
Vasai ·
Nalasopara ·
Kalyan ·
Pune ·
Chinchwad |
DIRECTORS
As on 16.08.2010
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Name : |
Mr. Bimal Maheshchandra Jhaveri |
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Designation : |
Director |
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Address : |
E/303, Mota Nagar, |
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Date of Birth/Age : |
28.11.1966 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
25.06.1993 |
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DIN No.: |
02147441 |
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Name : |
Mrs. Neema Bimal Jhaveri |
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Designation : |
Director |
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Address : |
E/303, Mota Nagar, |
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Date of Birth/Age : |
10.10.1966 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.06.1993 |
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DIN No.: |
02147501 |
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Name : |
Mr. Bhavik Kishor Jhaveri |
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Designation : |
Director |
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Address : |
302, Shanti Sandan Buuilding, |
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Date of Birth/Age : |
12.02.1980 |
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Date of Appointment : |
04.04.2005 |
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DIN No.: |
02147519 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.08.2010
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Names of Shareholders |
No. of Shares |
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Hemlata Maheshchandra Jhaveri |
83500 |
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Bimal Maheshchandra Jhaveri |
1000 |
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Neema Maheshchandra Jhaveri |
1000 |
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Total |
85500 |
As on 16.08.2010
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributors of Computer Peripherals. |
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Agencies Held : |
·
LG ·
HP ·
Acer ·
Benq ·
Compaq – Sub Dealer ·
Philips ·
Zenith |
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Terms : |
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Selling : |
Cash and Credit (30-60 days) |
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Purchasing : |
Cash and Credit (30-60 days) |
GENERAL INFORMATION
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Customers : |
·
Distributors ·
End Users ·
Wholesalers ·
Retailers |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
Standard Chartered Bank, SME Credit, 23-25, M G
Road, Fort, Mumbai – 400001, Maharasahtra, India ·
Dena Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mitesh C. Gandhi Chartered Accountant |
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Address : |
6/34, Varma Nagar, |
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PAN.: |
AADPG1159M |
CAPITAL STRUCTURE
As on 16.08.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Share |
Rs.10/- Each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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85500 |
Equity Share |
Rs.10/- Each |
Rs.0.855
Million |
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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 |
0.855 |
0.855 |
0.855 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.589 |
1.845 |
1.473 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.444 |
2.700 |
2.328 |
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LOAN FUNDS |
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1] Secured Loans |
0.200 |
1.997 |
2.317 |
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2] Unsecured Loans |
8.396 |
3.919 |
1.101 |
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TOTAL BORROWING |
8.596 |
5.916 |
3.418 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
12.040 |
8.616 |
5.746 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.838 |
1.433 |
1.559 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.028 |
0.027 |
0.029 |
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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 |
2.138
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2.281
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5.334
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Sundry Debtors |
56.545
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17.933
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11.354
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Cash & Bank Balances |
4.727
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2.719
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1.837
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
0.854
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0.472
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0.552
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Total
Current Assets |
64.264 |
23.405
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19.077 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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15.855 |
14.504 |
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Other Liabilities |
53.950
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0.176
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0.182 |
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Provisions |
0.140
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0.218
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0.233
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Total
Current Liabilities |
54.090 |
16.249
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14.919 |
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Net Current Assets |
10.174 |
7.156
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4.158 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
12.040 |
8.616 |
5.746 |
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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 Turnover |
31.812 |
19.740 |
14.775 |
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Net Profit |
0.902 |
0.597 |
0.445 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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18.20 |
8.21 |
7.88
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Current Ratio (Current Asset/Current Liability) |
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1.19 |
1.44 |
1.28
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LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
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Particulars |
As on 31.03.2010 (Rs. in Millions) |
As on 31.03.2009 (Rs. in Millions) |
As on 31.03.2008 (Rs. in Millions) |
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Sundry Creditors |
NA |
15.855 |
14.504 |
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Total |
NA |
15.855 |
14.504 |
NOTE:
As Claimed By Director Mr. Bimal Jhaveri that they
have tie up with Snehanjali Electronics. (Means computer peripherals available
in Snehanjali Electronics are of “Hardtrac Computer Services Private Limited”.)
FINANCIAL RESULTS:
The company has achieved a turnover of Rs. 31.812 Millions in the financial
year 2009-2010 as against turnover of Rs. 19.740 Millions achieved in previous
financial year 2008-2009. The net profit carried by the company in the
financial year 2009-2010 is Rs. 0.902 Millions (before exceptional items) as
against the net profit of Rs. 0.597 Millions earned in the previous financial
year 2008-2009.
The Economic scenario is undergoing tremendous charges and the directors
are pleased to inform you that the company has adapted itself very well to the
changing external environment, which is evident from the financial results
indicated above. The company has added excellent product renges into the
already existing product ranges and generally performed well.
Form 8:
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Corporate
identity number of the company |
U52392MH1993PTC072586 |
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Name of the
company |
HARDTRAC COMPUTER
SERVICES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
78/ 80, Navinchandra Building, Vithal Wadi, Kalbadevi Road, Mumbai – 400002,
Maharasahtra, India |
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This form is for |
Creation
of charge |
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Type of charge |
Book Debts Movable Property Floating charge |
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Particular of
charge holder |
Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai – 400001,
Maharasahtra, India |
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Nature of
instrument creating charge |
Hypothecation
Agreement |
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Date of
instrument Creating the charge |
27.07.2010 |
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Amount secured by
the charge |
Rs. 40.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Credit Facility. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The Bank is
having first charge on security given by the Company |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
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TRADE REFERENCE:
·
Ingram Micro Limited – Mumbai
·
Redington India Private Limited – Mumbai
·
LG
·
TCL
FIXED ASSETS:
·
Furniture
·
Computers
·
Telephone
·
Motor Car
·
Air Conditioner
·
Refrigerator
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.44.94 |
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|
1 |
Rs.71.91 |
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Euro |
1 |
Rs.64.60 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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.