MIRA
INFORM REPORT
|
Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
DIGITRON COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.2, Swastik Mill Compound, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.08.1978 |
|
|
|
|
Com. Reg. No.: |
11-020569 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.795 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH1978PTC020569 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10956B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD1619H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of computers and computers hardware and resale of computer |
|
|
|
|
No. of Employees
: |
120 (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 220000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears drastic fall in sales turnover due to diversify its business active. However, company netwoth seems strong. No external borrowing. However,
trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered 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
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.
|
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. Mini |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-25223818 |
|
Date : |
10.12.2012 |
LOCATIONS
|
Registered Office / Head Office : |
Unit No.2, Swastik Mill Compound, Sion Trombay Road, Chembur,
Mumbai-400071, Maharashtra, India |
|
Tel. No.: |
91-22-25223818 |
|
Fax No.: |
|
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Flat No.17 and 18, 1st Floor, Rayala Towers, Door No.
New-158, Old-1781 and 785, Anna Salai, Chennai-600002, Tamilnadu, India |
|
Tel. No.: |
91-44-42089508 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Navin Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
D-14, Petit Hall, Tanhee Heights, Nepeansea Road, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1956 |
|
Date of Appointment : |
18.04.1989 |
|
DIN No.: |
00162637 |
|
|
|
|
Name : |
Mr. Venkateswaran Subramanian |
|
Designation : |
Director |
|
Address : |
13, shree Natraj Co-operative Housing Society, 353/7, R B Mehta Road,
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1932 |
|
Date of Appointment : |
16.07.1992 |
|
DIN No.: |
00841907 |
|
|
|
|
Name : |
Mr. Gopalakrishnan Krishnan Iyer |
|
Designation : |
Director |
|
Address : |
Flat No. C/201, 2nd Floor, TN Swaraj Chambers Limited, Near
Womens Hostel, Chembur, Mumbai-400089, Maharashtra, India |
|
Date of Birth/Age : |
14.12.1955 |
|
Date of Appointment : |
09.10.2009 |
|
DIN No.: |
02809571 |
KEY EXECUTIVES
|
Name : |
Ms. Mini |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ekansha Enterprise Private Limited, India |
116600 |
|
Reliance Exports Private Limited, India |
53900 |
|
Century Laboratories Private Limited, India |
56000 |
|
Proficient Investments and Financial Consultancy Private Limited,
India |
28000 |
|
Reliance Property Management Services Private Limited, India |
25000 |
|
TOTAL
|
279500 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of computers and computers hardware and resale of computer |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Corporate |
|
|
|
|
No. of Employees : |
120 (Approximately) |
|
|
|
|
Bankers : |
·
Indian Bank, Fort Branch, Mumbai, Maharashtra,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K K Shirazi and Company Chartered Accountant |
|
Address : |
36, Level-1, Dewan Centre, S V Road, Jogeshwari (West), Mumbai-400102,
Maharashtra, India |
|
Tel. No.: |
91-22-26782960 |
|
Mobile No.: |
91-9820134872 |
|
E-Mail : |
|
|
PAN No.: |
AAFPS0438K |
|
|
|
|
Subsidiaries : |
Digitron Eledctronics Private Limited CIN No.: - U29299MH1984PTC031749 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
279500 |
Equity Shares |
Rs.10/- each |
Rs. 2.795
Millions |
|
|
|
|
|
NOTES
a)
Reconciliation of Number of Shares
|
Particulars |
As at March 31,
2012 |
|
|
Nos. of Shares |
Rs. In Millions |
|
|
Equity Shares |
|
|
|
Opening Balance |
279,500 |
2.795 |
|
Changes during the year |
-- |
-- |
|
Closing Balance |
279,500 |
2.795 |
b)
Right, preferences and restrictions attached to
shares
The Equity shareholders are entitled to receive
dividends as and when declared, a right to vote in proportion to holding etc
and their rights, preferences and restrictions are governed by / in terms of
their issue under the provisions of the Companies Act, 1956.
c)
Shares held by the Holding Company, its
subsidiaries and associates: Not Applicable
d)
Details of shares held by shareholders holding more
than 5% of the aggregate shares in the company.
|
Particulars |
As at March 31,
2012 |
|
|
Nos. of Shares |
% of Holdings |
|
|
Equity Shares |
|
|
|
Bhurnika Trading Private Limited |
36600 |
13.09% |
|
Yashasvi Holdings Private Limited |
24510 |
8.77% |
|
Reliance Exports Private Limited |
53900 |
19.28% |
|
Century Laboratories Private Limited |
56000 |
20.04% |
|
Proficient Investments and Financial
Consultancy Private Limited |
28000 |
10.02% |
|
Vicraze Investments and Trading Private
Limited |
19500 |
6.98% |
|
Reliance Property Management Services
Private Limited |
25000 |
8.94% |
|
Proline Investments Private Limited |
25000 |
8.94% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.795 |
2.795 |
2.795 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
54.548 |
53.597 |
52.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
57.343 |
56.392 |
55.482 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57.343 |
56.392 |
55.482 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.790 |
1.093 |
1.491 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
46.099 |
32.664 |
20.265 |
|
|
DEFERREX TAX ASSETS |
0.772 |
0.666 |
0.922 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.375
|
0.668 |
0.920 |
|
|
Sundry Debtors |
2.512
|
5.492 |
15.077 |
|
|
Cash & Bank Balances |
8.459
|
5.740 |
11.576 |
|
|
Other Current Assets |
1.044
|
1.262 |
0.111 |
|
|
Loans & Advances |
2.591
|
13.322 |
28.054 |
|
Total
Current Assets |
14.981
|
26.484 |
55.738 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.621
|
0.772 |
11.182 |
|
|
Other Current Liabilities |
1.362
|
1.861 |
3.426 |
|
|
Provisions |
2.316
|
1.882 |
8.326 |
|
Total
Current Liabilities |
5.299
|
4.515 |
22.934 |
|
|
Net Current Assets |
9.682
|
21.969 |
32.804 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57.343 |
56.392 |
55.482 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
38.095 |
47.492 |
214.793 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
36.284 |
46.084 |
209.946 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.883 |
1.408 |
4.847 |
|
|
|
|
|
|
|
|
|
|
TAX |
(0.067) |
0.050 |
0.374 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.950 |
0.910 |
4.473 |
|
|
|
|
|
|
|
|
|
|
Short Provision
for Earlier Years |
0.000 |
0.000 |
0.230 |
|
|
|
|
|
|
|
|
|
|
Profit and Loss
Account Balance |
0.950 |
0.910 |
4.703 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.40 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.02
|
1.92 |
2.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.34
|
4.99 |
8.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.09
|
0.08 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
5.87 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
1.621
|
0.772 |
11.182 |
|
|
|
|
|
|
TOTAL |
1.621
|
0.772 |
11.182 |
FIXED ASSETS
·
Computers
·
Electrical Fittings
·
Furniture and Fixtures
·
Office Equipments
·
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 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. 54.46 |
|
|
1 |
Rs. 87.62 |
|
Euro |
1 |
Rs. 71.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--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.