%20LIMITED%20-%20134541%2010-Mar-2011_files/image002.jpg){kind=small}
1. Summary Information
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|
|
Country |
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Company Name |
Par Computers ( |
Principal Name 1 |
Mr. Yogesh Rasiklala Parikh |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Dipa Kartik Kapadia |
|
|
|
Registration # |
11-69650 |
|
Street Address |
B/12, Jayawant Industrial Estate, |
||
|
Established Date |
20.11.1992 |
SIC Code |
-- |
|
Telephone# |
91-22-24971450/ 28711676 |
Business Style 1 |
Re-processing and Selling |
|
Fax # |
91-22-28789560 |
Business Style 2 |
Service Provider |
|
Homepage |
Product Name 1 |
Toner |
|
|
# of employees |
-- |
Product Name 2 |
Inkjet Cartridges |
|
Paid up capital |
Rs.7,500,000/- |
Product Name 3 |
Printers and Printer Spares Parts |
|
Shareholders |
Bodies Corporate- 44.80%, Directors or
relatives of directors-44.53%, Other top fifty (50) shareholders-10.67% |
Banking |
Janakalyan Sahakari Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
18 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (28) |
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Related
Company |
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Relation
|
Country
|
Company
Name |
CEO |
|
Associates/
Subsidiary |
|
Par Computer Sciences (Int.) Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
23,881,000 |
Current Liabilities |
6,512,000 |
|
Inventories |
6,992,000 |
Long-term Liabilities |
19,874,000 |
|
Fixed Assets |
11,011,000 |
Other Liabilities |
2,575,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
28,961,000 |
|
Invest& other Assets |
0,000,000 |
Retained Earnings |
5,423,000 |
|
|
|
Net Worth |
12,923,000 |
|
Total Assets |
41,884,000 |
Total Liab. & Equity |
41,884,000 |
|
Total Assets (Previous Year) |
42,558,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
47,854,000 |
Net Profit |
(1,965,000) |
|
Sales(Previous yr) |
60,697,000 |
Net Profit(Prev.yr) |
2,947,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PAR COMPUTERS ( |
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|
|
|
Registered
Office : |
B/12, Jayawant Industrial Estate, |
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|
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
20.11.1992 |
|
|
|
|
Com. Reg. No.: |
11-69650 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72300MH1992PLC069650 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Company is engaged in the business of Re-processing of Toner
and Inkjet Cartridges, Sale of Printers and Printer Spares Parts, Rendering
Print and Save Job Assistance and Rendering Software Development Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 52000 |
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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 satisfactory track. There
appears some losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing 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 |
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|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
LOCATIONS
|
Registered Office : |
B/12, Jayawant Industrial Estate, |
|
Tel. No.: |
91-22-24971450/ 28711676 |
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Fax No.: |
91-22-28789560 |
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E-Mail : |
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Website : |
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Corporate Office : |
31, Sai Nath Industrial Estate, |
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Tel. No.: |
91-22-28755900/ 28755078/ 40665900 (30 lines) |
|
Fax No.: |
91-22-40665999 |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Yogesh Rasiklala Parikh |
|
Designation : |
Director |
|
Address : |
23, Hanuman Sharan, Bomanji Petit Road, Mumbai – 400026, |
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Date of Birth/Age : |
08.09.1943 |
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Date of Appointment : |
20.11.1992 |
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Name : |
Mr. Mehtab Henry Gulrajani |
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Designation : |
Director |
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Address : |
201, Horizon Apartments, N S Road, J V P D Scheme, Juhu, Mumbai – 400
049, |
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Date of Birth/Age : |
15.12.1965 |
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Date of Appointment : |
06.09.1997 |
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Name : |
Mrs. Dipa Kartik Kapadia |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
15.03.1973 |
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Date of Appointment : |
28.08.1997 |
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Name : |
Mr. P. N. Sighidwajan |
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Designation : |
Director |
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Name : |
Mr. Joseph T. A. |
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Designation : |
Director |
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Name : |
Mrs. Gita Yogesh Parikh |
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Designation : |
Director |
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Address : |
23, Hanuman Sharan, Bomanji Petit Road, Mumbai – 400026, |
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Date of Birth/Age : |
23.05.1943 |
|
Date of Appointment : |
19.01.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Yogesh Parikh 23, Hanuman Sharan, Bomanji Petit Road, Mumbai – 400036, |
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333930 |
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Henry Lalchand Gulrajani |
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25010 |
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Mrs. Gita Yogesh Parikh 23, Hanuman Sharan, Bomanji Petit Road, Mumbai -400 036, |
|
10 |
|
Nita Henry Gulrajani |
|
25010 |
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Pradip Chimanlal Shah 334/3, Nandkutir TPS. V, |
|
10 |
|
Mehtab Henry Gulrajani 201, Horizon Apartment, |
|
20000 |
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Sitara Mehtab Gulrajani 201, Horizon Apartment, |
|
10000 |
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Par Computer Sciences (Int.) Limited B - 12, Jaywant Industrial Estate, 62, |
|
336030 |
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|
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Total |
|
750000 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Bodies Corporate (not mentioned above) |
|
44.80 |
|
Directors or relatives of directors |
|
44.53 |
|
Other top fifty (50) shareholders (other than listed above) |
|
10.67 |
|
|
|
|
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in the business of Re-processing of Toner
and Inkjet Cartridges, Sale of Printers and Printer Spares Parts, Rendering
Print and Save Job Assistance and Rendering Software Development Services. |
||||
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
Actual Production |
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Toner Cartridges |
Nos. |
11793 |
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Inkjet Cartridges |
Nos. |
55 |
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GENERAL INFORMATION
|
Bankers : |
§
Punjab National Bank PNB House, E-mail: pnbhouse@vsnl.net §
Janakalyan Sahakari Bank Limited 140,Vivek Darshan,Sindhi Society, Opposite Bhakti Bhavan,
Chembur, Mumbai - 400071, §
Standard Chartered Bank §
ANZ Grindlays Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sanjay C. Shah and Associates Chartered Accountants |
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Address : |
B/3, Om Joshi Apartments, |
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Tel. No.: |
91-22-26248873/ 26281101 |
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Fax No.: |
91-22-26248873 |
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Email : |
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Associates/Subsidiaries : |
v
Par Computer Sciences (Int.) Limited, v
Par Integrated Systems Private Limited |
CAPITAL STRUCTURE
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500
Millions |
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|
|
|
NOTE:
Of the above 2,00,000 Equity shares were
issued for consideration other than cash
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 |
7.500 |
7.500 |
7.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
5.423 |
7.389 |
4.442 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
12.923 |
14.889 |
11.942 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
17.320 |
10.962 |
9.654 |
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2] Unsecured Loans |
2.554 |
1.300 |
0.800 |
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TOTAL BORROWING |
19.874 |
12.262 |
10.454 |
|
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DEFERRED TAX LIABILITIES |
1.518 |
1.490 |
0.965 |
|
|
|
|
|
|
|
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TOTAL |
34.315 |
28.641 |
23.361 |
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|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
11.011 |
11.958 |
7.160 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
1.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.992
|
4.927 |
4.833 |
|
|
Sundry Debtors |
18.075
|
20.177 |
12.419 |
|
|
Cash & Bank Balances |
0.843
|
0.373 |
0.247 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.963
|
5.123 |
4.096 |
|
Total
Current Assets |
30.873
|
30.600 |
21.595 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5.330
|
10.903 |
0.802 |
|
|
Other Current Liabilities |
1.182
|
1.192 |
4.169 |
|
|
Provisions |
1.057
|
1.822 |
1.423 |
|
Total
Current Liabilities |
7.569
|
13.917 |
6.394 |
|
|
Net Current Assets |
23.304
|
16.683 |
15.201 |
|
|
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
34.315 |
28.641 |
23.361 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
47.854 |
60.697 |
45.875 |
|
|
|
Other Income |
0.222 |
0.380 |
0.438 |
|
|
|
TOTAL (A) |
48.076 |
61.077 |
46.313 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in Stock |
(1.321) |
(0.210) |
0.823 |
|
|
|
Purchases for Resale |
2.976 |
1.779 |
1.257 |
|
|
|
Materials Cost |
18.826 |
26.808 |
21.956 |
|
|
|
Other direct cost |
10.538 |
11.474 |
6.826 |
|
|
|
Personnel cost |
5.518 |
3.870 |
3.475 |
|
|
|
Administrative, Selling and Distribution and Other Expenses |
7.024 |
7.629 |
6.156 |
|
|
|
TOTAL (B) |
43.561 |
51.350 |
40.493 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.515 |
9.727 |
5.820 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.910 |
1.496 |
1.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.605 |
8.231 |
4.435 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.550 |
3.638 |
2.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(1.945) |
4.593 |
2.434 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.020 |
1.646 |
0.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(1.965) |
2.947 |
1.543 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.389 |
4.442 |
2.899 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.424 |
7.389 |
4.442 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
3.162 |
NA |
|
|
TOTAL IMPORTS |
0.000 |
3.162 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.62) |
3.93 |
2.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(4.09)
|
4.83 |
3.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.06)
|
7.57 |
5.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.64)
|
10.79 |
8.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(015)
|
0.31 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.12
|
1.76 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.08
|
2.20 |
3.38 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL
RESULTS
The Company has incurred a loss of Rs.1.945 Millions and after
deducting short provision of tax of Rs.0.007 Million provision for current
taxation of Rs. Nil/-, Fringe Benefit Tax of Rs.Nil/- and for Deferred Taxation
of Rs.0.027 Million and adding the carried forward profit of Rs.7.389 Millions
a sum of Rs.5.423 Millions is carried forward to the Balance Sheet.
NATURE
OF OPERATIONS
Company is engaged in the business of Re-processing of Toner
and Inkjet Cartridges, Sale of Printers and Printer Spares Parts, Rendering Print
and Save Job Assistance and Rendering Software Development Services.
FORM 8
|
Name of the
company |
Par Computers ( |
|
Presented By |
Par Computers ( |
|
1) Date and description of instrument creating the change |
10.02.1998 Hypothecation
Agreement (working capital) dated 10.02.1998 executed by Par Computers ( |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.000 Millions
by way of working capital facilities. |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the
Borrower’s present and future stocks of raw materials, work-in-progress,
finished goods, consumable stores and spares and all other current assets and
present and future book debts, including trusts receipts, decree, moneys
receivables, Government securities, claims, bills, contracts and investments.
|
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1. The charge is created on the assets
described in column No. 3 above to secure the working capital facilities of
Rs.000 millions only agreed to be advance by the bank to the Borrower under
the working capital Agreement dated 10.02.1998 2. The Borrower not to create any mortgage,
charge, lien or encumbrance affecting the hypothecated assets except in
favour of the Bank without the prior written permission of the Bank 3. The Borrower to permit the Bank its agents
and Servants to enter into or upon and godowns or premises where the
hypothecated assets are stored. 4. The Borrower to insure the Hypothecated
assets against risk of fire, strikes, riots, civil commotion, earthquake etc. 5. The Borrower to maintain a margin of 25%
of such other margin as the Bank may fix. 6. The Borrower to pay interest in accordance
with the provisions of the aforesaid working capital Agreement. 7. If the Borrower fails to pay the principal
or interest or become bankrupt of insolvent or commits breach of any of the
terms and conditions of the said working capital Agreement etc. The Bank
authorized to sell, by public auction or private treaty, the hypothecated
assets. 8. The principal Hypothecation Agreement to
be a continuing security. 9. A general lien and right to set off and combine
accounts given in favour of the Bank. |
|
5) Name and Address and description of the person entitled to the charge. |
PNB House, Fort,
Mumbai – 400 001 |
|
6) Date and brief description of instrument modifying the charge |
21.03.2003 Hypothecation of
Goods and Book Debts to secure Cash Credit Facility. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
v
Original
charge dated 1.02.1998 for Rs.3.000 Millions v
Modification
dated 13.08.2002 charge increased from Rs.3.000 Millions to Rs.4.000 Millions v
By
the present modification charge increased from Rs.4.000 Millions to Rs.4.500
Millions. |
|
Corporate
identity number (CIN) Foreign company registration number |
U72300MH1992PLC069650 |
|
Name of the
Company |
PAR COMPUTERS ( |
|
Address |
B/12, Jayawant
Industrial Estate, |
|
This form is for |
Creation of charge |
|
Type of Charge |
Movable property
(not being pledge) |
|
Particulars of
the charge holder |
Janakalyan
Sahakari Bank Limited 140,Vivek
Darshan, Sindhi Society, Opp.
Bhakti Bhavan, Chembur, Mumbai
– 400071, |
|
Nature or description
of the instrument(s) creating or modifying the charge |
Agreement of
Hypothecation of Plant and Machinery |
|
Date of the
instrument creating or modifying the charge |
15.09.2010 |
|
Amount secured by
the charge |
Rs.3.500 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of
Interest: 14% per annum
with monthly rests. (b) Terms of
repayment: Term Loan of
Rs.3.500 Millions shall be repayable in 36 monthly installments of Rs.1,20,475/-
each. (c) Margin: As per sanction
terms. (d) Extent and
operation of the charge: To secure Term
Loan (PLMLN) facility of Rs.3.500 Millions granted by the Bank to the
Company. |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation by way of first charge in favour of the Bank : The Whole
of the Movable Properties of the Borrower including its movable Plant and
Machinery, Machinery Spares, Tools and Accessories and other movable both
present and future (save and except Book-Debts) whether installed or not and
whether now lying loose or in cases or which are now lying or stored in or
about or shall hereafter from time to time during the continuance of the
security of these presents be brought into or upon or be stored or be in or
about the Borrower's factories, premises and godowns or wherever else the
same may be or by held by any party to the order and disposition of the
Borrower or in the course of transit or on high seas on order, or delivery,
howsoever and whosesoever in the possession of the Borrower and either by way
of substitution or addition. |
FIXED ASSETS
· Computers and Printers
· Electrical Installation
· Furniture and Fixtures
· Office Equipment
· Air Conditioner
· Plant and Machinery
· Motor Car
· Computers Software
WEBSITE DETAILS ATTACHED:
INTRODUCTION
OFFICES
Their head office is centrally situated in
Mumbai (
DEPARTMENTS
They have three departments in their company:
§
Software (Web Solutions)
§
Web Design, Multimedia,
Graphics and Animation
§
IT Enabled Services
(Mainly data processing and back office processing)
Web Solutions and Back Office Processing are their
core areas of development and expansion. This is very much in lines with the
global trends in the IT industry, especially with regards to outsourcing work
to
TOTAL WORKFORCE
Out total workforce is approximately 100
employees. This constitutes of mainly 40 employees in the software and
multimedia department and 50 employees in the IT enabled Services departments.
MILESTONES ACHIEVED
2003 - They are now recognized as a
"Microsoft Certified Partner" (Membership ID #565492) because of
their technological expertise in software development using Microsoft
platforms. They also have a number of "Microsoft Certified
Professionals" as part of their software team.
2003 - Tied up with eXant (
2001- Signed a contract with a Large
multinational having global presence to offer high volume data digitization
services.
2000 -Signed a contract with Zacks Investment
Research Inc. for analysis and processing of financial data.
1999 - Signed a contract with Entech Energy
Consulting for utlity bill processing and development of online energy
solutions.
1999 - Signed a contract with Bytemanagers
Inc. for high volume back office processing operations.
1999 - Opened a marketing office "PAR
Computer Sciences USA Inc." in
1998 - Signed a contract with Qualcomm Inc.
for data warehousing, data mining and web based reporting.
1996- Developed a Software Product Recruit
Assist for
1995- Received first
1994 - Sold entire Infrastructure of Share
Activity to ICICI.
1992- Developed on-line Share Registry System.
1988 -Received Apple computer dealership.
1987 -Selected by Western railway to handle
data processing for their Recruitment.
1986 -Received Wipro's Dealership.
1983 -Software development project for the
Ministry of
1982 -Introduction of off-the-shelf products.
1980 -Imported PDP 11/34A, a fourth generation
digital computer.
1979- Company established on December 14.
PAR Computers has formed a subsidiary company
under the name of PAR Computers (
There is a strong, rapidly expanding global
market for Recycled Toner cartridges due to growing environmental
consciousness. In addition, developments in the industry have enabled Recycled
Cartridges to compete in quality with, and have been known to out perform,
brand new cartridges.
Laser Printer cartridges and Inkjet cartridges
are recurring requirements.
Users have a choice to buy new cartridges or
refilled cartridges. Now, a new option... Re-manufactured cartridges! Refilling
is simply adding more toner powder in case of Laser Printer cartridges or
refill with ink incase of Inkjet cartridges using a short-cut procedure
"drill and fill". Refilled cartridges prone to leakage that may cause
problem to the printers. The Re-manufacturing technique deals with flushing of
the residual ink, thorough cleaning and change of worn parts. It's a process
that makes re-manufactured cartridges as good as new or better.
The worldwide growth of laser and Inkjet
printers are significant. According to research, in 1996 the Recycled Toner
cartridge industry registered an average sales increase 29.5%. Industry
analyses state that global sales of Remanufactured Cartridges experienced a 32%
compounded annual growth rate during the year 1995-96. In the same period,
total international Laser Cartridge consumption increased by 24% from
approximate 85 million to 130 million units! The Indian market is a Virgin
market and it is observed that Inkjet printers are becoming replacement of dot
matrix printers. There is no industry that, offers Remanufactured Cartridges.
There is great potential of this industry with respect to its cost. Selling
prices of remanufactured cartridges are generally 30%-40%less than the new
cartridges. Each cartridge can be recycled several times; hence there is
substantial cost savings.
Their mission is to provide their clients with
high quality cartridges. They strive to provide competitive pricing and
environment friendly products.
GROUP COMPANY
PAR INTEGRATED SYSTEMS PRIVATE LIMITED
PAR is an integrated corporation that offers a
diverse range of products, solutions and services in systems, software and infrastructure
technology. They are driven by their passion for quality and their commitment
to customers. This drive has catapulted us among the leading most admired
companies in
PAR Integrated Systems Private Limited has the
distinction of being System Integrator since 1986. As a system Integrator, PAR
provides hardware, software, and network and ERP solutions. PAR has many
clients that include public undertakings, large Corporates, medium and small
companies. Their after sale support is another service provided by us that has
received many laurels from their existing customers and is a major contributor
to their large installed base.
PAR provides end-to-end IT deployment
solutions to suit the every business need. They offer a vast range of system
integration solutions, products and services. Their product portfolio spans the
entire range of IT-related components, from computers, software, peripherals to
networking integration, enterprise resource planning, data warehousing and
mining and e-commerce storage devices and consumables. Their solutions and
products are backed by efficient after-sales support and other value-added
services like Facilities Management.
PAR has continued to be one of the leading IT
companies in
THE
COMPANY
Remanufactured Cartridges are brought to you by Par Computer who pioneered the
concept of reengineered toner cartridges used in laser printer in
A decade long experience backed by dedicated research in the field; they at PAR
have developed reengineered cartridges which deliver as good as original.
PAR is proud to make contribution in making the world an environment friendly
place by delivering cost-effective product which at the same time avoids wastage
generated by throw away technologies. Moreover every reengineered / recycled
cartridge saves over a pound of plastic waste to the environment.
Subject is part of a PAR group of companies.
DIRECTORS
Mr.
Yogesh Parikh – Founder and Group Chairman
Mr. Parikh has been with computer industry over 40 years
with diverse experience in different field of computer operations. Having MS
and MBA from
Mr.
Mehtab Gulrajani – CEO
Mehtab, a graduate, has extensive experience in computer
field and has taken specialized training in manufacturing of toner cartridges.
He has been a driving force in the company for continuously enhancing the
manufacturing processes and achieves excellent quality of manufactured
cartridges.
Mehtab has been with PAR group and he has a major contribution in setting up
Cartridge Manufacturing Plant and then spearheading the operations.
Mr. P.
N. Sighidwajan – Director
Mr. Sighidwajan united PAR Computers (
Mr.
Joseph T.A. – Director
Joseph has been more than 20 years with PAR group of
companies. He has taken up the remanufacturing of the cartridges activities
from inception of the cartridge remanufacturing plant. He constantly develops
the products to stay ahead of the competition.
Mrs.
Dipa Kapadia – Director
Dipa, Bachelor’s in Computer Science and holding MBA in
International business from
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.72.98 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
|
28 |
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.