MIRA
INFORM REPORT
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Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
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Name : |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
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Registered
Office : |
20, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.09.2004 |
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Com. Reg. No.: |
11-148754 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000
millions |
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CIN No.: [Company Identification
No.] |
U52392MH2004PTC148754 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13031E |
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PAN No.: [Permanent Account No.] |
AACCC5396G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Importer of Computer Peripherals and Accessories. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 141000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported as usually made 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
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Name : |
Mr. A.P. Purohit |
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Designation : |
Chief Financial Officer |
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Contact No.: |
91-9987560725 |
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Date : |
11.05.2011 |
LOCATIONS
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Registered Office : |
20, |
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Tel. No.: |
91-22-23822222/ 40811234 |
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Mobile No.: |
91-9987784006 (Mr. Mitesh Shah) 91-9987560725 (Mr. A.P. Purohit) |
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Fax No.: |
91-22-23804045/ 28903558 Ext 113 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Leased |
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Corporate Office : |
B-104, 2nd Floor, Mandpeshwar Industrial Estate, Off. |
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Tel No. : |
91-22-28905551 |
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Fax No.: |
91-22-28903558 Ext 113 |
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Email : |
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Warehouse : |
Shop # 6, |
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Tel. No.: |
91-22-27450349 |
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Area : |
1000 sq. ft. |
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Location : |
Leased |
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Branch Office : |
Located at:
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Service Centre : |
Located at:
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DIRECTORS
As on 30.09.2010
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Name : |
Mr. Ketan Chhaganlal Patel |
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Designation : |
Director |
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Address : |
A/ 7, Nimesh Kunk CHS Limited, |
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Date of Birth/Age : |
01.08.1970 |
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Qualification : |
Diploma in Computer Engineering |
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Date of Appointment : |
22.09.2004 |
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DIN No.: |
00127633 |
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Name : |
Mr. Vijay Kimatrai Advani |
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Designation : |
Director |
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Address : |
Savera – 1, Flat No.203, Picnic Cottage, |
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Date of Birth/Age : |
24.01.1966 |
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Qualification : |
B. Com. |
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Date of Appointment : |
30.01.2006 |
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DIN No.: |
02009626 |
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Name : |
Mrs. Purvi Patel |
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Designation : |
Director |
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Address : |
A/ 7, Nimesh Kunk CHS Limited, |
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Date of Birth/Age : |
19.01.1971 |
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Date of Appointment : |
22.09.2004 |
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Date of Ceasing : |
09.06.2005 |
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Name : |
Mr. Mehul Kangalwala |
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Designation : |
Director |
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Address : |
D – 3, Dwarkesh Apartment, L.T. Raod, Borivali (West), Mumbai – 400
092, |
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Date of Birth/Age : |
04.01.1972 |
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Date of Appointment : |
01.06.2005 |
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Date of Ceasing : |
31.01.2006 |
KEY EXECUTIVES
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Name : |
Mr. A.P. Purohit |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ketan Patel |
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484900 |
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Purvi Patel |
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14800 |
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Mehul Kangalwala |
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100 |
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Vijay Advani |
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100 |
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Sunil Udhani |
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100 |
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Total
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500000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Importer of Computer Peripherals and Accessories. |
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Agencies Held : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 days) |
GENERAL INFORMATION
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Suppliers : |
v
Advik
Compware Private Limited v
v
Compuage
Infocom Limited v
Compunics
Technologies LLC v
Multiventure
Infotech Private Limited v
Multi
Electronics v
S.E.S.
Technologies Limited v
Softronics
Computer and Services v
Top
Victory Investments Limited v
Air
Speed Express v
Akshay
Consultants v
Balaji
Othale v
Best
Consumer v
Bharti
Airtel Limited v
New
Jolly |
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Customers : |
Wholesalers, Retailers, End Users and Corproates (As on
31.03.2009) CORPORATES
LARGE FORMAT
RETAILS
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No. of Employees : |
100 (Approximately) |
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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 : |
S.K. Thanawala and Company Chartered Accountants |
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Address : |
140/ 142, Princess Street, |
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Associates/Subsidiaries : |
K.P. Enterprises
Address: 20, Line of Business: Dealer and Importer of Computer Peripherals and Accessories. |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
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 |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
30.170 |
20.576 |
12.392 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
35.170 |
25.576 |
17.392 |
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LOAN FUNDS |
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1] Secured Loans |
58.357 |
37.730 |
24.601 |
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2] Unsecured Loans |
26.573 |
13.858 |
1.548 |
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TOTAL BORROWING |
84.930 |
51.588 |
26.149 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
120.100 |
77.164 |
43.541 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.575 |
2.670 |
2.261 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.500 |
0.050 |
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DEFERREX TAX ASSETS |
0.045 |
0.025 |
0.027 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
97.419
|
47.166
|
41.187
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Sundry Debtors |
112.384
|
74.359
|
103.227
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Cash & Bank Balances |
5.328
|
2.629
|
1.511
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Other Current Assets |
3.181
|
1.849
|
2.156
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Loans & Advances |
13.852
|
14.132
|
11.038
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Total
Current Assets |
232.164
|
140.135 |
159.119 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
106.603 |
|
117.938
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Other Current Liabilities & Provisions |
9.096
|
8.583 |
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Total
Current Liabilities |
115.699
|
66.184
|
117.938
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Net Current Assets |
116.465
|
73.951
|
41.181
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MISCELLANEOUS EXPENSES |
0.015 |
0.018 |
0.022 |
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TOTAL |
120.100 |
77.164 |
43.541 |
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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 |
853.137 |
705.613 |
681.311 |
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Other Income |
1.393 |
1.925 |
2.795 |
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TOTAL (A) |
854.530 |
707.538 |
684.106 |
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Less |
EXPENSES |
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Cost of Purchases |
850.846 |
669.725 |
662.258 |
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Administrative, Selling and Other Expenses |
29.993 |
22.325 |
26.986 |
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Director’s Remuneration |
2.256 |
1.628 |
1.536 |
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Increase/Decrease in Stock |
(50.253) |
(5.979) |
(22.776) |
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TOTAL (B) |
832.842 |
687.699 |
668.004 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.688 |
19.839 |
16.102 |
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Less |
FINANCIAL
EXPENSES (D) |
6.242 |
5.689 |
2.833 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.446 |
14.150 |
13.269 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.880 |
0.706 |
0.672 |
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PROFIT BEFORE
TAX (E-F) (G) |
14.566 |
13.444 |
12.597 |
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Less |
TAX (H) |
4.992 |
5.260 |
4.802 |
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PROFIT AFTER TAX
(G-H) (I) |
9.574 |
8.184 |
7.795 |
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Add: |
Deferred Tax Asset |
0.020 |
0.000 |
0.021 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.576 |
12.392 |
4.576 |
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BALANCE CARRIED
TO THE B/S |
30.170 |
20.576 |
12.392 |
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Earnings Per
Share (Rs.) |
29.13 |
16.56 |
NA |
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Particulars |
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|
31.03.2011 (Approximately) |
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Sales Turnover |
|
|
1000.000 |
Expected Sales (2011-2012): Rs.1250.000 millions
The above information has been parted by Mr. A.P. Purohit (Chief
Financial Officer).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.12
|
1.17 |
1.14
|
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Net Profit Margin (PBT/Sales) |
(%) |
1.71
|
1.91 |
1.84
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.18
|
9.41 |
7.81
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.53 |
0.72
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
5.70
|
4.60 |
8.28
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Current Ratio (Current Asset/Current Liability) |
|
2.01
|
2.12 |
1.35
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors
for Goods |
105.404 |
56.796 |
NA |
|
Sundry Creditors
for Expenses |
1.199 |
0.805 |
NA |
|
|
106.603 |
57.601 |
NA |
Details of Sundry Creditors: (Partial
Details)
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
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Sundry Creditors for Goods: |
|
|
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|
Advik Compware
Private Limited |
3.578 |
0.965 |
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|
|
0.090 |
0.090 |
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Compuage Infocom
Limited |
1.123 |
0.322 |
|
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Compunics
Technologies LLC |
2.560 |
9.816 |
|
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Multiventure
Infotech Private Limited |
10.522 |
0.000 |
|
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Multi Electronics
|
0.531 |
0.372 |
|
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S.E.S.
Technologies Limited |
24.403 |
9.505 |
|
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Softronics
Computer and Services |
0.034 |
0.000 |
|
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Top Victory
Investments Limited |
30.009 |
25.422 |
NA |
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Sundry Creditors for Expenses: |
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Air Speed Express
|
0.001 |
0.002 |
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Akshay
Consultants |
0.018 |
0.009 |
|
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Balaji Othale |
0.292 |
0.222 |
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Best Consumer |
0.016 |
0.036 |
|
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Bharti Airtel
Limited |
0.094 |
0.064 |
|
|
New Jolly |
0.116 |
0.050 |
|
FINANCIAL RESULTS:
During the year the company has made turnover of Rs.853.137 millions and
earned profit before tax of Rs.14.566 millions after providing depreciation of
Rs.0.880 million.
FORM 8:
|
Corporate
identity number of the company |
U52392MH2004PTC148754 |
|
Name of the
company |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
20, E-Mail: ketan@ecreativeindia.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of India,
Mumbai Mid Corproate Branch, 70/80, M.G. Road, Bank of India Building,
Mezzanine Floor, Fort, Mumbai – 400 001, Maharashtra, India E-Mail: vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation Cum
Loan Agreement (Stocks and Book Debts). |
|
Date of
instrument Creating the charge |
07/02/2011 |
|
Amount secured by
the charge |
Rs.140.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest as may be
stipulated by the bank from time to time. Terms of
Repayment: On Demand Margin: 25% against Raw
Material, Finished goods, stores. 40% against Book
Debts, Goods In process. Extent and
Operation of the charge: Hypothecation by way
of First Charge on Company's Stocks and Book Debts, to secure as a Continuing
Security for repayment of Rs.140.000 millions, by the Company to the Bank
with interest/commission, charges, costs and expenses. |
|
Short particulars
of the property charged |
All tangible
movable properties, assets and stocks, whatsoever nature of the Borrower
(both present and future) and including but without prejudice All the present
and future book-debts, outstanding, money receivables, claims, bills which
are now due and owing or which may at any time |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U52392MH2004PTC148754 |
|
Name of the
company |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
20, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
New India Co-Operative Bank Limited, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Hypothecation of Stock and Book Debts to secure cash credit facility. |
|
Date of
instrument Creating the charge |
19.02.2007 |
|
Amount secured by
the charge |
Rs.27.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
11.5% p.a. Terms of
Repayment: As may be decided, from time to time, by the Bank Margin: As may be
decided, by the Bank Extent and Operation
of the charge: To secure the due repayment of Cash Credit facility of
Rs.27.000 million granted by the Bank to the Company. |
|
Short particulars
of the property charged |
|
|
Name of the company |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
|
Presented By |
New India Co-Operative Bank Limited, Girgaum, Mumbai – 400 004 |
|
1) Date and description of instrument creating the change |
Agreement for
Hypothecation of Stocks and Book Debts to secure Cash Credit facility dated
08.08.2005. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.18.000
millions |
|
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 |
1. All the
present and future, Stock as per statement submitted with the aforesaid
agreement of the Borrower. 2. All the present
and future, Book Debts, as per statement submitted with the aforesaid
agreement of the Borrower. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
To secure due
repayment of Cash Credit facility granted by the Bank to the Borrower. 1. Rate of
Interest: 13% p.a. 2. Margin: Stock
– 40% Book Debts – 50% |
|
5) Name and Address and description of the person entitled to the charge. |
New India Co-Operative Bank Limited, Girgaum, Mumbai – 400 004, |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
TRADE REFERENCES:
v Global Infonet Distribution Private Limited
v Prepetual Infotech Private Limited
v Mitsui OSK Lines Limited
v SPANCO
FIXED ASSETS:
v Air Conditioner
v Computers
v Electrical Equipments
v EPABX Systems
v Furniture and Fixtures
v Nokia Phone
v Office Equipments
v Vehicles
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.44.69 |
|
|
1 |
Rs.73.12 |
|
Euro |
1 |
Rs.64.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.