MIRA INFORM REPORT
|
Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
S. KUMAR COMPUTERS PRIVATE LIMITED |
|
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Registered
Office : |
1st Floor, Satyam Centre, Near Inquilab Society, Gulbai
Tekra, Ahmedabad-380015, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.01.2008 |
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Com. Reg. No.: |
04-052579 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U72501GJ2008PTC052579 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS16243D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Computer Peripherals |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 64000 |
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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.
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 : |
Mr. Hemant |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9825412570 |
|
Date : |
11.12.2012 |
LOCATIONS
|
Registered Office : |
1st Floor, Satyam Centre, Near Inquilab Society, Gulbai Tekra,
Ahmedabad-380015, |
|
Tel. No.: |
91-79-26306143/ 26306215/ 26300297/ 26303260 |
|
Mobile No.: |
91-9825412570 (Mr. Hemant) |
|
Fax No.: |
91-79-26301847 |
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E-Mail : |
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Branches : |
Located at: |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Nimishbhai Shardkumar Hansoti |
|
Designation : |
Director |
|
Address : |
17, Nishant Bungalows, Part II, Ashwamegh III, Near Kameshwar Park,
Satellite Road, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
27.04.1957 |
|
Date of Appointment : |
07.01.2008 |
|
DIN No.: |
00130750 |
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Name : |
Mrs. Nita Nimish Hansoti |
|
Designation : |
Director |
|
Address : |
17, Nishant Bungalows, Part II, Ashwamegh III, Near Kameshwar Park,
Satellite Road, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
28.09.1957 |
|
Date of Appointment : |
07.01.2008 |
|
DIN No.: |
01958343 |
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|
|
|
Name : |
Ms. Bhumika Nimish Hansoti |
|
Designation : |
Director |
|
Address : |
17, Nishant Bungalows, Part II, Ashwamegh III, Near Kameshwar Park,
Satellite Road, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
21.07.1986 |
|
Date of Appointment : |
07.01.2008 |
|
DIN No.: |
01974909 |
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|
Name : |
Mr. Neelkamal Saratchandra Mohanty |
|
Designation : |
Director |
|
Address : |
B-105, Chi-Chi Tower, Ellora Park, Baroda-390023, Gujarat, India |
|
Date of Birth/Age : |
01.07.1972 |
|
Date of Appointment : |
20.08.2009 |
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DIN No.: |
02170450 |
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|
|
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Name : |
Mr. Rambindranath Rakhalchandra Biswas |
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Designation : |
Director |
|
Address : |
4, shantidham Bunglows, Vasna Road, Vadodara-390016, Gujarat, India |
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Date of Birth/Age : |
12.09.1955 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02996016 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Nimish Shardkumar Hansoti |
5000 |
|
Nita Nimish Hansoti |
52500 |
|
Bhumika Nimish Hansoti |
52500 |
|
Nimish Shardkumar Hansoti (HUF) |
390000 |
|
TOTAL
|
500000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S K Chalishazar and Company Chartered Accountant |
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Address : |
601, Abhijeet-IV, Near Mithakhali Six Road, Mithakhali,
Ahmedabad-380006, Gujarat, India |
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PAN No.: |
AAQPC9573L |
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Sister Concern : |
Wonder World Inc. |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
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|
NOTES
Reconciliation of the number of share and amount outstanding at the
beginning and at the end of the
|
Particulars |
Current Year As
At 31.03.2012 |
|
Equity shares at the beginning of the year |
500,000 |
|
Add : Shares issued on |
-- |
|
Less : Shares cancelled on |
-- |
|
Equity Shares At the End of the Year |
500,000 |
The details of shareholders holding more than 5% share
|
Particulars |
Current Year As
At 31.03.2012 |
|
|
Number of Shares |
% of Holding |
|
|
Nita Nimish Hansoti |
52,500 |
10.50% |
|
Bhumika Nimish Hansoti |
52,500 |
10.50% |
|
Nimish Shardkumar Hansoti (HUF) |
390,000 |
79.00% |
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.001 |
8.029 |
5.420 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.001 |
13.029 |
10.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.244 |
14.609 |
19.302 |
|
|
2] Unsecured Loans |
21.846 |
20.953 |
19.645 |
|
|
TOTAL BORROWING |
43.090 |
35.562 |
38.947 |
|
|
DEFERRED TAX LIABILITIES |
1.674 |
1.300 |
0.973 |
|
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|
|
|
|
|
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TOTAL |
60.765 |
49.891 |
50.340 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.541 |
20.228 |
21.377 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.235 |
0.950 |
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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 |
16.484
|
18.288 |
18.534 |
|
|
Sundry Debtors |
39.520
|
30.822 |
46.043 |
|
|
Cash & Bank Balances |
3.063
|
2.836 |
1.470 |
|
|
Other Current Assets |
0.000
|
0.004 |
0.000 |
|
|
Loans & Advances |
9.266
|
10.533 |
5.811 |
|
Total
Current Assets |
68.333
|
62.483 |
71.858 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.066
|
26.056 |
40.631 |
|
|
Other Current Liabilities |
11.100
|
2.345 |
0.000 |
|
|
Provisions |
6.943
|
4.654 |
3.222 |
|
Total
Current Liabilities |
28.109
|
33.055 |
43.853 |
|
|
Net Current Assets |
40.224
|
29.428 |
28.005 |
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
60.765 |
49.891 |
50.340 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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SALES |
|
|
|
|
|
|
|
Income |
202.406 |
213.916 |
205.126 |
|
|
|
Other Income |
4.606 |
3.015 |
3.040 |
|
|
|
TOTAL |
207.012 |
216.931 |
208.166 |
|
|
|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
211.825 |
202.921 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
NA |
211.825 |
202.921 |
|
|
|
|
|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
5.106 |
5.245 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.400 |
1.330 |
0.696 |
|
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|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
3.776 |
4.549 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.670 |
1.166 |
1.588 |
|
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|
|
PROFIT / (LOSS)
AFTER TAX |
2.970 |
2.610 |
2.961 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.94 |
5.22 |
5.92 |
|
Expected Sales (2012-2013) : Rs. 500.000 Millions
The above information has been parted by Mr. Hemant.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.43
|
1.20 |
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.77 |
2.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
4.57 |
4.88 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.29 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.55
|
5.37 |
8.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
1.89 |
1.64 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
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
|
|
|
|
|
Micro Small and Medium Enterprises |
10.066 |
26.056 |
38.271 |
|
Others |
0.000 |
0.000 |
2.360 |
|
TOTAL |
10.066 |
26.056 |
40.631 |
FINANCIAL RESULTS
AND OPERATIONS
During the period, the Company has achieved sales of Rs. 202.410
Millions (Previous year Rs. 213.920 Millions) and earned net profit of Rs.
2.970 Millions (Previous year Rs. 2.610 Millions) after providing Depreciation
of Rs. 1.400 Millions (Previous year Rs. 1.330 Millions) provision for taxation
of Rs. 1.040 Million (Previous year Rs. 0.840 Million) and Deferred Tax
Liabilities of Rs. 0.370 Million (Previous year Rs. 0.330 Million).
FORM 8
|
Corporate
identity number of the company |
U72501GJ2008PTC052579 |
|
Name of the
company |
S. KUMAR
COMPUTERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1st Floor, Satyam Centre, Near Inquilab Society, Gulbai Tekra, Ahmedabad-380015, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10150806 |
|
Type of charge |
|
|
Particular of
charge holder |
Vijaya Bank, Ambavadi Branch, Ambavadi, Ahmedabad-380009, Gujarat, India |
|
Nature of
instrument creating charge |
Supplementary
Agreement |
|
Date of instrument
Creating the charge |
30.03.2012 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base Rate + 3.85%
(Floating) Terms of repayment As per Bank's
sanction. Margin As per bank's
sanction Extent and operation of the charge All the
securities shall continue under charge in order to secure enhanced Cash
Credit limit of Rs. 20.000 Millions together with interest and all other
moneys payable by the Company to the Lender. |
|
Short particulars
of the property charged (Including location of the property) |
The whole of
Borrower's present and future stocks of raw materials, goods in process or
manufacture and all finished and manufactured
goods and articles etc. at factory premises or elsewhere. All of Borrower’s
present and future book debts, outstanding monies, receivables, claims etc.
which are now due owing or payable or belonging to Borrower. |
|
Date of
instrument modifying the charge |
03.11.2009 |
|
Particulars of
the present modification |
By virtue of
present modification, the said charge is further extended for enhanced Cash
Credit limit of Rs. 20.000 Millions. |
TRADE REFERENCES
- Gujarat Narmada Valley Fertilizers and
Chemicals Limited
- Dell India Private Limited
FIXED ASSETS
- Computer
- Furniture and
Fixtures
- Office
Equipments
- Plant and
Machinery
- Test
Equipments
- Motor Car
- Scooter
- Electrification
- Air Condition
- Factory
Building
- EPBX Systems
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. 54.31 |
|
|
1 |
Rs. 87.36 |
|
Euro |
1 |
Rs. 70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
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 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.