|
Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ICIS COMPUTERS ( |
|
|
|
|
Registered
Office : |
GS-2/3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.09.1999 |
|
|
|
|
Com. Reg. No.: |
11-121830 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72100MH1999PTC121830 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPI00318D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI6678P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Computer Peripherals |
|
|
|
|
No. of
Employees: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 43000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Rita Deshpande |
|
Designation : |
Accountant |
|
Contact No.: |
91-712-2448528 |
|
Date : |
01.12.2012 |
LOCATIONS
|
Registered Office : |
GS-2/3, |
|
Tel. No.: |
91-712-2548528 |
|
Fax No.: |
91-712-2530764 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ganesh Vinayak Pagay |
|
Designation : |
Managing Director |
|
Address : |
Ramalayam 79, Bajiprabhu, |
|
Date of Birth/Age : |
04.03.1966 |
|
Date of Appointment : |
20.09.1999 |
|
Din No.: |
00162142 |
|
|
|
|
Name : |
Mr. Vinayak Ganpat Pagay |
|
Designation : |
Director |
|
Address : |
Ramalayam 79, Bajiprabhu, |
|
Date of Birth/Age : |
23.12.1932 |
|
Date of Appointment : |
20.09.1999 |
|
Din No.: |
00188003 |
|
|
|
|
Name : |
Mr. Kishor Dattatray Anandikar |
|
Designation : |
Director |
|
Address : |
Flat No.: F4, Ashay Apartments, Borkute Layout, Goptal Colony,
Narendra Nagar, |
|
Date of Birth/Age : |
26.06.1969 |
|
Date of Appointment : |
30.09.2008 |
|
Din No.: |
02278928 |
KEY EXECUTIVES
|
Name : |
Ms. Rita Deshpande |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ganesh Vinayak Pagay |
|
249900 |
|
Vinayak Ganpat Pagay |
|
100 |
|
|
|
|
|
Total |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
IRIS Computers India Private Limited ·
Aarkey Techno Consultants Private Limited ·
Benjamin
Samuel ·
Blue
Interactive ·
Brij
Systems ·
Cable
Connectors ·
Cable
N Cable ·
Cannon
India Private Limited ·
Canon
India Private Limited. ·
Compu-Link ·
Datasoft
Network Solutions Private Limited ·
Everlop
Computer Excel Ribon Mfg F-Tech Systems ·
Global Infonet Distribution
Private Limited. Grainer |
||||||||||||
|
|
|
||||||||||||
|
Customers : |
Retailers ·
· Aaraya ·
Accord Computers ·
Adarsh Computer ·
Advance Vision ·
Agarwal Enterprises ·
Amal Datta ·
Ambika Traders ·
C – Tech ·
Amdal Systems ·
Bhagya Computer ·
Dac Computer |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
20 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
CC
– Rs.12.500 Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.S. Kanade Chartered Accountant |
|
Address : |
162, Vivekanand Nagar, |
|
Pan No.: |
ADGPK6855N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.136 |
6.218 |
4.530 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10.636 |
8.718 |
7.030 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.940 |
2.711 |
1.801 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
3.940 |
2.711 |
1.801 |
|
|
DEFERRED TAX LIABILITIES |
0.022 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.598 |
11.429 |
8.831 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.344 |
3.280 |
3.145 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.442 |
0.677 |
0.413 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.749
|
3.152 |
2.300 |
|
|
Sundry Debtors |
12.599
|
10.871 |
7.611 |
|
|
Cash & Bank Balances |
0.286
|
0.267 |
0.414 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.645
|
1.584 |
2.819 |
|
Total
Current Assets |
20.279
|
15.874 |
13.144 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.474
|
7.436 |
6.979 |
|
|
Other Current Liabilities |
0.711
|
0.966 |
0.892 |
|
|
Provisions |
0.282
|
0.000 |
0.000 |
|
Total
Current Liabilities |
11.467
|
8.402 |
7.871 |
|
|
Net Current Assets |
8.812
|
7.472 |
5.273 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.598 |
11.429 |
8.831 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131.741 |
120.419 |
94.579 |
|
|
|
Increase in stock |
2.597 |
0.852 |
0.276 |
|
|
|
Other Income |
6.677 |
3.151 |
1.233 |
|
|
|
TOTAL |
141.015 |
124.422 |
96.088 |
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.916 |
1.689 |
1.336 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.218 |
4.530 |
3.194 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.134 |
6.219 |
4.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.66 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
140.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.150.000 Millions
The above information has been parted by Ms. Rita
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.36 |
1.36 |
1.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.45 |
1.27 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
1.89 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
No |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
10.474
|
7.436 |
6.979 |
|
|
|
|
|
|
Total |
10.474
|
7.436 |
6.979 |
Sundry Creditors Partial details
Rs. in Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Aarkey
Techno Consultants Private Limited |
(0.001) |
0.000 |
|
Benjamin
Samuel |
0.001 |
15.000 |
|
Blue
Interactive |
(0.004) |
0.000 |
|
Brij
Systems |
(0.013) |
0.005 |
|
Cable
Connectors |
0.001 |
0.005 |
|
Cable N
Cable |
0.000 |
0.000 |
|
Cannon
India Private Limited |
8.999 |
1.313 |
|
Canon |
(0.075) |
0.000 |
|
Compu-Link |
0.000 |
0.007 |
|
Datasoft
Network Solutions Private Limited |
0.000 |
1.205 |
|
Everlop
Computer Excel Ribon Mfg F-Tech Systems |
0.000 |
0.000 |
|
Global Infonet Distribution Private Limited. Grainer |
(0.005) |
0.000 |
Rs. in Millions
|
Particulars |
31.03.2009 |
|
Adarsh
Computer |
0.019 |
|
|
0.044 |
|
Benjamin
Samuel |
0.000 |
|
Blue
Interactive |
0.000 |
|
Cable
Connectors |
0.005 |
|
Cable in
cable |
0.000 |
|
Canon
India Private Limited |
2.030 |
|
Cartridge
World |
0.002 |
|
Compu
link |
0.002 |
|
Cubix
micro systems |
0.058 |
|
IRIS
Computers Limited |
0.649 |
|
|
|
OPERATION:
In this connection the directors have pleasure
that the total sales were Rs.131.741 Millions during the year as against Rs.120.419
Millions form previous year. The operations for the year resulted in net profit
of Rs.1.916 Millions as against net profit of Rs.1.689 Millions in the previous
year. The directors are very optimistic about enhancing the sales as well as
profit in the coming year
FORM 8
|
Corporate
identity number of the company |
U72100MH1999PTC121830 |
|
Name of the
company |
ICIS
COMPUTERS ( |
|
Address of the
registered office or of the principal place of business in |
GS-2/3, Email: shrinath@nagpur.dot.net.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
90141002 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of Email: emailroc@rediffmail.com |
|
Nature of
instrument creating charge |
1)
Supplemental Composite Agreement of Hypothecation of Goods, Book-Debts,
Moveable Machinery and Vehicles. 2)
Supplemental Memorandum of Entry (Both
the above agreements constitute a single charge) |
|
Date of
instrument Creating the charge |
14.03.2012 |
|
Amount secured by
the charge |
Rs. 17.500 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 3% above base rate @ 13.75% p. a or such other
rate as agreed between the borrower company and the bank from time to time. Term
of Payment: 12 Months, Payable on demand but not exceeding 12 months,
subject to annual review Margin Margin @ 25% or
such other rate as agreed between the borrower company and the bank from time
to time. Extent and
operation of the charge At the request of the borrower company, the
bank has enhanced overall banking limits upto Rs. 17.500 Millions [i. e Cash
Credit Rs. 12.500 Millions and Bank Guarantee of Rs. 5.000 Millions] against
Hypothecation of Book debts, movable assets and Mortgage of the immovable
properties i. e GS - 2 and GS - 3, Radha Palace, Dhantoli, Nagpur. The
total charge stands modified up to Rs. 17.500 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Mortgage
of the immovable properties i. e GS - 2 and GS - 3, Hypothecation
of Stocks, book debts and other movable assets of the borrower company. |
|
Particulars of the present modification |
At
the request of the borrower company, the bank has enhanced overall banking limits
upto Rs. 17.500 Millions [i. e Cash Credit Rs. 12.500 Millions and Bank
Guarantee of Rs. 5.000 Millions] against Hypothecation of Book debts, movable
assets and Mortgage of the immovable properties i. e GS - 2 and GS - 3, Radha
Palace, Dhantoli, Nagpur. The
total charge stands modified up to Rs. 17.500 Millions |
FIXED ASSETS:
Tangible Assets
·
Air conditioner
·
Computer and Printer
·
Fax Machine
·
Furniture and Fixtures
·
Office Equipment
·
Purchase of Auto
·
Scooter
·
Shop/Office
Intangible Assets
·
Goodwill
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 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.54.53 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
|
43 |
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.