MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
DATA TECH COMPUTERS PRIVATE LIMITED |
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Registered
Office : |
604 Samruddhi Building, Navjivan, Ahmedabad - 380014, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.04.1996 |
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Com. Reg. No.: |
029268 |
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CIN No.: [Company Identification
No.] |
U72200GJ1996PTC029268v |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Computer Hardware and Computer Networking Services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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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 38596 |
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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 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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
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Name : |
Mr. Rupesh |
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Designation : |
Accounts Department |
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Date : |
08.03.2011 |
LOCATIONS
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Registered Office : |
604 Samruddhi Building, Navjivan, Ahmedabad - 380014, |
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Tel. No.: |
91-79-27542500/1218 |
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Fax No.: |
91-79-27544553 |
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E-Mail : |
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Website : |
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Overseas Operation: |
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Tel No.: |
+61-425227998 |
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Branch: |
Mumbai
Gandhidham |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Rakesh Mahendrabhai Patel |
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Designation : |
Director |
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Address : |
6/64, Suramya Apartments, Opp. Jaymangal Soc., Navrangpura, Ahmedabad
– 380063, |
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Date of Birth/Age : |
14.06.1970 |
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Date of Appointment : |
08.04.1996 |
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Name : |
Ms. Lina Rakeshbhai Patel |
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Designation : |
Director |
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Address : |
6/64, Suramya Apartments, Opp. Jaymangal Soc., Navrangpura, Ahmedabad
– 380063, |
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Date of Birth/Age : |
29.03.1971 |
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Date of Appointment : |
01.07.1997 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh M. Patel |
|
275100 |
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Leena R. Patel |
|
118125 |
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Yogeshbhai B. Panchal |
|
700 |
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Indiraben B. Panchal |
|
700 |
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Amiben Yogeshbhai Panchal |
|
700 |
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Paresh M. Patel |
|
700 |
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Anjanaben M. Patel |
|
700 |
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Palak P. Patel |
|
700 |
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Tej P. Patel |
|
700 |
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Shardaben M. Patel |
|
20125 |
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Heli Patel |
|
20300 |
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Parita Patel |
|
20300 |
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Total |
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458850 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in Computer Hardware and Computer Networking Services. |
GENERAL INFORMATION
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No. of Employees : |
Not divulged by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Arun Sadhwani and Company Chartered Accountant |
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Address : |
3, Bhagyoday, Navjivan, Ahmedabad – 380014, |
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Tel No.: |
91-79-27541889 |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
458850 |
Equity Shares |
Rs.10/- each |
Rs.4.588
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.588 |
1.311 |
1.311 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.061 |
5.659 |
4.064 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.649 |
6.970 |
5.375 |
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LOAN FUNDS |
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1] Secured Loans |
10.894 |
4.712 |
3.786 |
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2] Unsecured Loans |
7.886 |
3.664 |
6.462 |
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TOTAL BORROWING |
18.780 |
8.376 |
10.248 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.429 |
15.346 |
15.623 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.669 |
1.880 |
0.692 |
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Furniture - work-in-progress |
0.000 |
0.000 |
0.254 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
28.011
|
2.596 |
9.601 |
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Sundry Debtors |
61.689
|
29.540 |
24.852 |
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Cash & Bank Balances |
10.772
|
5.718 |
6.286 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
4.743
|
1.673 |
3.257 |
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Total
Current Assets |
105.215
|
39.527 |
43.996 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
77.210
|
24.031 |
28.216 |
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Other Current Liabilities |
2.245
|
2.030 |
1.103 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
79.455
|
26.061 |
29.319 |
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Net Current Assets |
25.760
|
13.466 |
14.677 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.429 |
15.346 |
15.643 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
243.986 |
170.214 |
171.472 |
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Other Income |
0.700 |
0.467 |
0.579 |
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TOTAL (A) |
244.686 |
170.681 |
172.051 |
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Less |
EXPENSES |
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Cost of Goods Sold |
215.372 |
150.026 |
155.623 |
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Administrative Expenses |
23.359 |
16.328 |
12.195 |
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Preliminary Expenses Written off |
0.000 |
0.000 |
0.000 |
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TOTAL (B) |
238.731 |
166.354 |
167.818 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.955 |
4.327 |
4.233 |
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Less |
FINANCIAL
EXPENSES (D) |
1.748 |
1.356 |
1.547 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.207 |
2.971 |
2.686 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.159 |
0.264 |
0.145 |
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PROFIT BEFORE
TAX (E-F) (G) |
4.048 |
2.707 |
2.541 |
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Less |
TAX (I) |
1.368 |
1.113 |
0.945 |
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PROFIT AFTER TAX
(G-I) (J) |
2.680 |
1.594 |
1.596 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.744 |
3.245 |
1.649 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
1.682 |
4.095 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
1.742 |
0.744 |
3.245 |
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Earnings Per
Share (Rs.) |
16.92 |
12.16 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.09
|
0.94 |
0.93 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.66
|
1.59 |
1.48 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.75
|
6.54 |
5.69 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.39 |
0.47 |
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Debt Equity Ratio (Total Liability/Networth) |
|
10.18
|
4.94 |
7.36 |
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Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.52 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars
|
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Creditors for Goods and Expenses |
77.210
|
24.031 |
28.216 |
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FORM 8:
|
Corporate
identity number of the company |
U72200GJ1996PTC029268 |
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Name of the
company |
DATA TECH COMPUTERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
604 |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge Others |
|
Particular of
charge holder |
Punjab National
Bank |
|
Nature of
instrument creating charge |
Hypothecation Of
Goods And Book Debts To Secure Cash Credit Facility Dated 09/04/2010 Genreal Counter
Indemnity Dated 09/04/2010 |
|
Date of
instrument Creating the charge |
09/04/2010 |
|
Amount secured by
the charge |
Rs.22.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 6.5% p.a. over
and above the Reserve Bank of Terms of
Repayment On Demand Margin Stocks - 25% Book Debts - 50% Extent and
Operation of the charge The Borrower
hypothecates with the Bank (i) Present and future Stocks of Raw Materials,
Work In Progress, Finished Goods, Consumable, Stores and Spares (ii) present
and future Book Debts, Outstanding Decrees, money receivables, claims,
securities, Government subsidies, investments, rights and other movable
assets excluding biils purchased/discounted by the Bank and bills against
which advances have been made. |
|
Short particulars
of the property charged |
(i) Present and
future Stocks of Raw Materials, Work In Progress, Finished Goods, Consumable,
Stores and Spares (ii) present and
future Book Debts, Outstanding Decrees, money receivables, claims,
securities, Government subsidies, investments, rights and other movable
assets excluding biils purchased/discounted by the Bank and bills against
which advances have been made. |
|
Particulars of
the present modification |
The Amount of
Cash Credit availed from the Bank has been increased From Rs. 9.000 Millions to
Rs. 22.000 Millions which contains Rs.15.000 Millions by hypothecating the
Goods and Book Debts of the Company and Rs.90 by Bank Guarantee. |
FIXED ASSETS:
- Air Conditioner
- Office Machinery
- Furniture and Fixture
- Vehicle
- Computer
- Mobile Phone
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.45.03 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.62.94 |
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 |
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 |
|
47 |
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.