MIRA
INFORM REPORT
|
Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
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Name : |
MICROPOINT COMPUTERS LIMITED |
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Registered
Office : |
Gala No. 17 and 18 Navketan Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.03.2002 |
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Com. Reg. No.: |
11-135224 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 million |
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IEC No.: |
0300033559 |
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CIN No.: [Company Identification
No.] |
U72200MH2002PLC135224 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUIMM19091C/ MUMM15875G |
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PAN No.: [Permanent Account No.] |
AACCM8590Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
They provide networking solutions and deal into computers and
computers peripherals. They are business partner for HP |
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No. of Employees
: |
265 (35-In Office and In Branch-230)(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 140000 |
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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 PARTED BY
|
Name : |
Mr. Yogesh Deosthali |
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Designation : |
Marketing Executive |
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Contact No.: |
91-9820222863 |
LOCATIONS
|
Registered Office / Head Office : |
Gala No. 17 and 18 Navketan Industrial Estate, Mahakali Caves Road,
Andheri (East), Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91-22-40956363 / 26106226 / 40956301 |
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Mobile No.: |
91-9820222863 (Mr. Yogesh Deosthali) |
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Fax No.: |
91-22-26106217 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
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Warehouse : |
B/207, A, |
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Area : |
Rented |
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Regional Office : |
Located at: ·
·
Chennai ·
·
Navi Mumbai ·
Kolkata ·
Delhi |
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International Office: |
1, |
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Tel. No.: |
91-65-63372472/3/5 |
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Fax No.: |
91-65-63374070 |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Chetan Ramaniklal Goyani |
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Designation : |
Director |
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Address : |
403, 4th Floor, Om Manan Co-Operative Housing Society, Park
Road, Vile Parle (East), Mumbai-400057, Maharashtra, India |
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Date of Birth/Age : |
31.12.1965 |
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Date of Appointment : |
19.03.2002 |
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DIN No.: |
00241224 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72200MH2002PLC135224 |
Micropoint
Computers Limited |
Director |
19-03-02 |
19-03-02 |
Active |
NO |
|
2 |
U72900MH2008PTC186429 |
Ubique
Networks Private Limited |
Director |
02-09-08 |
02-09-08 |
Active |
NO |
|
3 |
U51109MH2009PTC190075 |
Crg
Multitrade Private Limited |
Director |
03-02-09 |
03-02-09 |
Active |
NO |
|
Name : |
Mr. Amul Damodar Mahale |
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Designation : |
Director |
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Address : |
1304-A, Whispering Heights, Mind Space, Malad (West), Mumbai-400064,
Maharashtra, India |
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Date of Birth/Age : |
03.03.1967 |
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Date of Appointment : |
19.03.2002 |
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DIN No.: |
00241284 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72200MH2002PLC135224 |
Micropoint
Computers Limited |
Director |
19-03-02 |
19-03-02 |
Active |
NO |
|
2 |
U72900MH2008PTC186429 |
Ubique
Networks Private Limited |
Director |
02-09-08 |
02-09-08 |
Active |
NO |
|
3 |
U72900MH2009PTC193725 |
Sam Solutions
Private Limited |
Director |
01-07-09 |
01-07-09 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Deosthali |
|
Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2011
|
Names of Shareholders |
No. of Shares |
|
Chetan Ramniklal Goyani |
22385 |
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Amul Damodar Mahale |
20310 |
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Total |
42695 |
AS ON 30.09.2009
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Names of Shareholders |
No. of Shares |
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Mayank Deenbhandhu Shah |
16600 |
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Chetan Ramniklal Goyani |
16600 |
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Amul Damodar Mahale |
16600 |
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Sonal Mayank Shah |
50 |
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Shilpa Chetan Goyani |
50 |
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Suchita Amul Mahale |
50 |
|
Rajesh Mahendrakumar Mehta |
50 |
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Total |
50000 |
AS ON 30.09.2009
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Equity Share Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
They provide networking solutions and deal into computers and
computers peripherals. They are business partner for HP |
GENERAL INFORMATION
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Customers : |
MANUFACTURING · Larsen and Toubro Limited ·
L and T ASC Limited ·
Sridevi Tool. TELECOM / MEDIA · MTNL ·
VSNL ·
STAR TV PHARMACEUTICAL / HEALTH CARE · Cynamid Agro Limited · Steringo Healthcare · Medlay Pharma ARCHITECTS/CIVIL ENGINEERING · DET NORKE VERITAS ( DNV ) ·
Bhagwati Associates ·
Dalal Consultants INFORMATION TECHNOLOGY · L and T Information Technology Limited ·
Sheorey Digital Systems Limited ·
Cybertech Limited ·
MoTech Software Limited BANKING AND FINANCE · Templeton Asset Management ·
ICICI Securities ·
Commerx Bank GOVERNMENT OF MAHARASHTRA, MANTRALAYA - HIGHER and
TECHNICAL EDUCATION DEPARTMENT · Directorate of Industries ·
Directorate of Technical Education ·
Office of the Collector of Mumbai GOVERNMENT OF · BARC ·
AERB ·
ONGC STOCK BROKERS / RESEARCH Angel Broking Limited L and T Trade.com CRISIL Ankit Securities OIL / PETROLEUM INDUSTRIES ONGC Indian Oil TRANSPORTS and AIRLINES Nhava Sheva International Container Terminal Limited Jet Air Kingfisher Airlines EDUCATIONAL INSTITUES /OTHERS SVKM Kamla Raheja Vidyavivid Institute Chandamama India Limited NETAIM Irrigation India Private Limited |
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No. of Employees : |
265 (35-In Office and In Branch-230)(Approximately) |
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Bankers : |
·
IDBI Bank Limited, Bhide Bunglow, 37, Mahatma
Gandhi Road, Vile Parle (East), Mumbai, Maharashtra, India |
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Facilities : |
Credit Limit Rs. 54.000 millions (including fund and non fund based) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Yatin C Shah and associates |
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Address : |
306, Goyal Trade Centre, Shantivan, Opposite HDFC Bank, Borivali
(East), Mumbai-400066, Maharashtra, India |
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Tel. No.: |
91-22-28967082 |
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Fax No.: |
91-22-28967082 |
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Email : |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
34.659 |
26.464 |
20.878 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
35.159 |
26.964 |
21.378 |
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LOAN FUNDS |
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1] Secured Loans |
0.00 |
0.000 |
0.316 |
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2] Unsecured Loans |
2.984 |
5.862 |
1.707 |
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TOTAL BORROWING |
2.984 |
5.862 |
2.023 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.065 |
0.336 |
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TOTAL |
38.143 |
32.891 |
23.737 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.659 |
11.587 |
13.843 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.218 |
0.218 |
0.218 |
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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 |
25.911
|
11.257 |
3.113 |
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Sundry Debtors |
72.798
|
54.203 |
45.523 |
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Cash & Bank Balances |
43.265
|
32.875 |
30.142 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
17.414
|
9.990 |
8.922 |
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Total
Current Assets |
159.388
|
108.325 |
87.700 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
|
40.977 |
27.841 |
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Other Current Liabilities |
124.562
|
43.610 |
46.144 |
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Provisions |
6.677
|
2.652 |
4.043 |
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Total
Current Liabilities |
131.239
|
87.239 |
78.028 |
|
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Net Current Assets |
28.149
|
21.086 |
9.672 |
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|
MISCELLANEOUS EXPENSES |
0.117 |
0.000 |
0.004 |
|
|
|
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|
|
|
|
TOTAL |
38.143 |
32.891 |
23.737 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
474.000 |
272.997 |
348.639 |
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|
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Other Income |
1.457 |
4.967 |
8.285 |
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TOTAL (A) |
475.457 |
277.964 |
356.924 |
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Less |
EXPENSES |
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|
|
|
|
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Material Consumed |
404.336 |
218.269 |
292.707 |
|
|
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Employees Cost |
0.000 |
35.727 |
33.708 |
|
|
|
Administrative Expenses |
55.985 |
11.610 |
16.738 |
|
|
|
Preliminary Expenses |
0.000 |
0.004 |
0.004 |
|
|
|
Excess Income Tax Provisions of Earlier years |
0.000 |
0.476 |
0.452 |
|
|
|
Prior Period Expenses |
0.000 |
0.530 |
0.000 |
|
|
|
Dividend Payment not approved by shareholder |
0.000 |
(1.000) |
0.000 |
|
|
|
General Reserves |
0.000 |
(0.100) |
0.000 |
|
|
|
Dividend Distribution Tax |
0.000 |
(0.169) |
0.000 |
|
|
|
TOTAL (B) |
460.321 |
265.347 |
343.609 |
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.136 |
12.617 |
13.315 |
|
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|
Less |
FINANCIAL
EXPENSES (D) |
1.147 |
2.115 |
0.751 |
|
|
|
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|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.989 |
10.502 |
12.564 |
|
|
|
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|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.927 |
2.435 |
3.248 |
|
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|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
12.062 |
8.067 |
9.316 |
|
|
|
|
|
|
|
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Less |
TAX (H) |
3.866 |
2.382 |
3.541 |
|
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|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
8.196 |
5.685 |
5.775 |
|
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|
|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.000 |
0.100 |
|
|
|
Dividend |
NA |
0.000 |
1.000 |
|
|
|
Tax on Dividend |
NA |
0.000 |
0.170 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
5.685 |
4.505 |
|
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IMPORTS |
|
|
|
|
|
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|
Raw Materials |
8.204 |
14.126 |
NA |
|
|
TOTAL IMPORTS |
8.204 |
14.126 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.72
|
2.05 |
1.62 |
|
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|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.54
|
2.95 |
2.67 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.14
|
6.73 |
9.17 |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.30 |
0.44 |
|
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|
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|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.82
|
3.46 |
3.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.24 |
1.12 |
LOCAL AGENCY FURTHER INFORMATION
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from 9 and 10,
East
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U72200MH2002PLC135224 |
|
Name of the
company |
MICROPOINT COMPUTERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gala No. 17 and 18 Nvaaketan Industrial Estate, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Citibank N.A, |
|
Nature of
description of the instrument creating or modifying the charge |
Goods Security
Agreement |
|
Date of
instrument Creating the charge |
28.09.2007 |
|
Amount secured by
the charge |
Rs. 22.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 12.25%
p.a. at monthly rests, however, subject to the change of rate of interest by
the bank from time to time Terms of
Repayment On Demand Margin 25% against the
Stocks and 25% against the
book debts Extent and
Operation of the charge The hypothecated assets
by way of first charge shall be remain as security to the Bank for the due
repayment by the borrower to the bank of the credit facilities together with
interest, costs, charges and expenses and other monies payable by the
borrower and also for due payment and discharge of all indebtedness/
liability of the borrower to the bank Others The borrower expressly recognizes and accepts that the bank shall be
absolutely entitle and have full power/ authority to sell, assign or transfer
in any manner and on such terms as the bank may decide any or all outstanding
dues of the borrower to any third party of the bank’s choice without any
further reference or intimation to the borrower. |
FIXED ASSETS
·
TATA Delivery Van
·
Furniture and Fixtures
·
Office Premises
·
Data Processing Equipment
·
Office Equipments
WEB SITE DETAILS
PROFILE
Subject is best described as one of the most powerful force that’s been
active in the world of infotech in India, ever since the advent of the digital
age.
Subject believes in providing the appropriate end-to-end business solutions
that leverage technology. They provide solutions for a dynamic environment
where business and technology strategies converge.
The approach focuses on new ways of business combining IT innovation and
adoption while also leveraging an organization's current IT assets.
They work with large global corporations and new generation technology
companies - to build new services and to implement prudent business and
technology strategies in today's dynamic digital environment.
Subject is driven by a highly trained staff operating out of a nationwide
network and practicing unique customer-centric methodologies. Together, they
offer an array of value-added solutions aimed at simplifying customers’ IT
systems, bettering enterprise efficiency and optimizing the total cost
of ownership.
AWARDS AND
RECOGNITION
- Certificate
of Achievement Award by HEWLETT PACKARD (HP) India Sales Private Limited
- Awarded for
HP Enterprise Business Partner by HEWLETT PACKARD (HP)
- COMPAQ
INSPIRATION TECHNOLOGY – Companionship Award (Q1, 2001)
- Awarded by
VMware for VMware Enterprise partner.
- Awarded by HP
for Outstanding Skills in Account Management in year 2008
- Value Added
Reseller of Emerson network power.
- McAfee
Security AllianceTM Global partner Certification
- MPCL is the
Gold Oracle partnered with oracle
- McAfee-
Associated Partner.
- Awarded for
the status of Procurve specialist Partner 2008.
- Awarded for
Intel® channel partner program Associate in year 2006 by Intel.
- Best Partner
– Debut award by Ca-Tech Retreat 08
- Authorized
Partner in the axis-Channel Partner Program.
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. 49.03 |
|
|
1 |
Rs. 76.59 |
|
Euro |
1 |
Rs. 66.80 |
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 |
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 |
|
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.