MIRA INFORM REPORT
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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ACCORD COMPUTERS PRIVATE LIMITED |
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Registered Office : |
C – 219, MIDC Waluj, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
24.09.1997 |
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Com. Reg. No.: |
11-110852 |
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Capital Investment / Paid-up Capital : |
Rs.0.902 Million |
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CIN No.: [Company
Identification No.] |
U72900MH1997PTC110852 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKA02181E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer and Distributor of Computer Peripherals |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 13000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
a dip in the turnover and profitability of the company. Mr. Kartik Iyer from
(Account Department) has denied that such a dip is due to the formation of
new company in the year 2010-2011 named as “Salasar Associates Private
Limited” incorporated in 2010-2011 which affected the sales turnover and
profitability of the company also the company has recorded huge external
borrowings. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to mediocre 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
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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
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Name : |
Mr. Kartik Iyer |
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Designation : |
Account Department |
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Contact No.: |
91-240-2241439 |
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Date : |
10.12.2012 |
LOCATIONS
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Registered Office : |
C – 219, MIDC Waluj, |
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Tel No.: |
91-240-6644510/ 512 |
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Mobile No.: |
91-9890048646 (Mr. Wasim) |
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Fax No.: |
91-240-6644510 |
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Email : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Head Office : |
Anant Enclave, Row House No.1, Near Marathwada Shitya Parishad,
Sanmitra Colony, Aurangabad, Maharashtra, India |
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Tel No.: |
91-240-2241439 / 2331488 |
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Fax No.: |
91-240-2331488 |
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Showroom : |
Below World of Titan, |
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Tel. No.: |
91-240-2331488 / 6644510 / 2338468 |
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Fax No.: |
91-240-2338468 / 2331488 |
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45, Shilp Nagar, Tro Road, Above Maria Eye and Dental Hospital,
Aurangabad, Maharashtra, India |
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Tel No.: |
91-240-2331488/ 2348720 |
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Fax No.: |
91-240-2338468/ 2348720 |
DIRECTORS
As on 28.09.2012
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Name : |
Mr. Rohit Devendrlal Mariya |
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Designation : |
Director |
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Address : |
26, Shilp Nagar, |
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Date of Birth/Age : |
13.03.1969 |
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Qualification : |
Computer Engineers |
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Date of Appointment : |
24.09.1997 |
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DIN No.: |
00966211 |
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Name : |
Mr. Nitin Kunjbihari Bharuka |
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Designation : |
Director |
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Address : |
23, Nirala Appartment, |
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Date of Birth/Age : |
14.06.1968 |
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Qualification : |
Engineers |
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Date of Appointment : |
24.09.1997 |
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DIN No.: |
00980631 |
KEY EXECUTIVES
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Name : |
Mr. Kartik Iyer |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
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Names of Shareholders |
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No. of Shares |
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Rohit Devendrlal Mariya |
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45100 |
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Nitin Kunjbihari Bharuka |
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45100 |
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Total |
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90200 |
Equity Share Breakup (Percentage of Total Equity)
As on 28.09.2012
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Category |
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Percentage |
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Directors or relatives of director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Computer Peripherals |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Others (Dealers and Distributor) |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Krantichowk Branch,
Kamarth Nagar Branch,
Nirala Bazar Branch,
Aurangabad Branch, Adalat Road, Aurangabad
- 431005, Maharashtra, India
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Facilities : |
Cash Credit : Rs.9.000
Millions (State Bank of India)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. B. Jaju and Company Chartered Accountants |
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Address : |
4, Prachi Complex, Kokanwadi, |
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Tel No.: |
91-240-2350517(O)/ 2343405 (R) |
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Mobile No.: |
91-9325213009 |
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PAN No.: |
AAUFM8452G |
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Associates/Subsidiaries
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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90200 |
Equity Shares |
Rs.10/- each |
Rs. 0.902
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.902 |
0.902 |
0.902 |
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2] Share Application Money |
0.335 |
0.335 |
0.335 |
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3] Reserves & Surplus |
1.905 |
1.639 |
2.560 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.142 |
2.876 |
3.797 |
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LOAN FUNDS |
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1] Secured Loans |
3.585 |
10.916 |
10.328 |
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2] Unsecured Loans |
6.413 |
4.624 |
3.491 |
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TOTAL BORROWING |
9.998 |
15.540 |
13.819 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.140 |
18.416 |
17.616 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.392 |
3.961 |
3.162 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.291 |
0.301 |
0.425 |
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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 |
13.828
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8.507 |
8.906 |
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Sundry Debtors |
13.289
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14.501 |
17.220 |
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Cash & Bank Balances |
0.334
|
1.314 |
2.666 |
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Other Current Assets |
1.357
|
0.000 |
0.000 |
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Loans & Advances |
0.386
|
0.812 |
3.531 |
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Total
Current Assets |
29.194
|
25.134 |
32.323 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
10.385
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10.263
|
17.796
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Other Current Liabilities |
9.352
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0.717 |
0.000 |
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Provisions |
0.000
|
0.000 |
0.498 |
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Total
Current Liabilities |
19.737
|
10.980 |
18.294 |
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Net Current Assets |
9.457
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14.154 |
14.029 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.140 |
18.416 |
17.616 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Annual Turnover |
99.584 |
166.705 |
119.865 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL
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NA |
NA |
NA |
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DEPRECIATION/
AMORTISATION |
0.654 |
0.797 |
0.512 |
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NET PROFIT |
0.819 |
1.416 |
0.859 |
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Earnings Per
Share (Rs.) |
NA |
NA |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
|
9.46 |
9.22 |
8.46 |
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Current Ratio (Current Asset/Current Liability) |
|
1.48 |
2.29 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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Trade Payable |
10.385
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10.263
|
17.796
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Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
Yes |
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12] |
Profitability for last
three years |
Yes |
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13] |
Reasons for variation
<> 20% |
-- |
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14] |
Estimation for coming
financial year |
No |
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15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
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21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
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25] |
Conduct of the banking
account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
The Registered Office of the company has been shifted from Shop No.4, Khatod Complex,
Operations:
Their company is successful in achieving the target during the year. The
company is successful in establishing the wide net work of distributors and
long term tie up with the new customers.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of charge |
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Corporate identity number of the company |
U72900MH1997PTC110852 |
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Name of the company |
ACCORD COMPUTERS PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in India of the company |
C - 219, MIDC, Waluj, Aurangabad – 431133, Maharashtra, India E-mail Id : madanlal_jaju@rediffmail.com |
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Type of charge |
Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Others (personal guarantee of the directors and third party) |
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Particular of charge holder |
State Bank of Hyderabad, Rasmeccc Aurangabad, Town Centre Branch, Aurangabad – 431001, Maharashtra, India E-Mail id : rasecc_aurbad@sbhyd.co.in |
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Nature of description of the instrument creating or modifying the charge |
Agreement of loan-cum-hypothecation |
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Date of instrument Creating the charge |
28.07.2011 |
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Amount secured by the charge |
Rs.9.000 Millions |
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Brief particulars of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For cash credit: BR (presently 10.00%)+4.50% present effective rate 14.50% Terms of Repayment For cash credit payable on demand Cc will be sanctioned for the period of 12 months and review of the account will be done within one year of disbursement Extent and Operation of the charge This charge will be operative till the total loan amount along with interest, commission, charges, expenses are repaid by company. |
|
Short particulars of the property charged |
Primary security: hypothecation of stocks and books debts(not more than 90 days) Collateral security: A) Registered mortgage of shop no.4, ad measuring 30.00 sq. mtrs, cts no.20592/25 to 028, Lower Floor of Khatod Complex, Nirala Bazar, sAurangabad in the name of Shri Rohit Devendralal Mariya,Shri Nitin Kunjbihari Bharuka and Smt Leeladevi Kunjbihari Bharuka. this property is presently mortgage with Axis Bank, Aurangabad. B) Registered mortgage of plot at cts no.11132/d-46, Plot No.05, ad measuring 155.00 sq. mtrs. SRPF Campus, Mantha Road, Jalna in the name of Shri Nitin Kunjbihari Bharuka and Smt Leeladevi Kunjbihari Bharuka, admeasuring 1667.80sq ft. C) Personal guarantee of both the directors. D) Third party guarantee of Smt Liladevi Kunjbihari Bharuka. |
Fixed Assets:
- Office Equipment
- Furniture and Fixtures
- Vehicles
- Electricity Fittings
- Generator
- Laptop
- Air Conditioner
- Sign Board
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 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.54.20 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
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Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
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--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 |
|
32 |
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.