MIRA
INFORM REPORT
|
Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
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Registered
Office : |
20, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.09.2004 |
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Com. Reg. No.: |
11-148754 |
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Capital Investment
/ Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U52392MH2004PTC148754 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13031E |
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PAN No.: [Permanent Account No.] |
AACCC5396G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Distributor of Computer Peripherals and Accessories. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 170000 |
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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. Even though
the company has recorded a better increase in its sales turnover, its
profitability appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be usually correct. 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.
INFORMATION DECLINED BY
|
Name : |
Mr. A.P. Purohit |
|
Designation : |
Chief Financial Officer |
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Contact No.: |
91-9987560725 |
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Date : |
11.07.2012 |
LOCATIONS
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Registered Office : |
20, Babu Building, 375/377, Lamington Road, Mumbai-400007, Maharashtra,
India |
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Tel. No.: |
91-22-23822222 |
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Mobile No.: |
91-9987560725 (Mr. A.P. Purohit) |
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Fax No.: |
91-22-23804045/ 28903558 Ext 113 |
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E-Mail : |
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Website : |
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Corporate Office : |
B-104/111, 2nd Floor, Mandpeshwar Industrial Estate, Off.
S.V.P. Road, Opposite M.C.F. Club, Borivali (West), Mumbai-400092,
Maharashtra, India |
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Tel No. : |
91-22-28905551 |
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Fax No.: |
91-22-28903558 Ext 113 |
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Email : |
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Warehouse : |
Shop # 6, Stand View Building, Lokmanya Nagar, Behind S.T. Depo, Panvel-410206,
Maharashtra, India |
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Tel. No.: |
91-22-27450349 |
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Branch Office : |
LOCATED AT:
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Service Centre : |
LOCATED AT:
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DIRECTORS
As on 30.09.2011
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Name : |
Mr. Ketan Chhaganlal Patel |
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Designation : |
Director |
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Address : |
A/ 7, Nimesh Kunk CHS Limited, |
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Date of Birth/Age : |
01.08.1970 |
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Qualification : |
Diploma in Computer Engineering |
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Date of Appointment : |
22.09.2004 |
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DIN No.: |
00127633 |
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Name : |
Mr. Vijay Kimatrai Advani |
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Designation : |
Director |
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Address : |
Savera – 1, Flat No.203, Picnic Cottage, J.P. Road, Andheri (West),
Mumbai – 400 061, Maharashtra, India |
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Date of Birth/Age : |
24.01.1966 |
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Qualification : |
B. Com. |
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Date of Appointment : |
30.01.2006 |
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DIN No.: |
02009626 |
KEY EXECUTIVES
|
Name : |
Mr. A.P. Purohit |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Ketan Patel |
484900 |
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Purvi Patel |
14800 |
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Mehul Kagalwala |
100 |
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Vijay Advani |
100 |
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Sunil Udhani |
100 |
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Total |
500000 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributor of Computer Peripherals and Accessories. |
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Agencies Held : |
·
Belkin India ·
AOC |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
·
New India Co-operative Bank Limited, Kartar
Mansion, 35, Tribhuvan Road, Girgaum, Mumbai – 400004, Maharashtra, India ·
Standard Chartered Bank, SME Credit, 23-25, M G Road,
Fort, Mumbai – 400 001, Maharashtra, India ·
Bank
of India, Mumbai MID Corporate Branch, 70/80, M. G. Road, Bank of India
Building, Mezzanine Floor, Fort, Mumbai – 400 001, Maharashtra, India ·
ICICI
Bank Limited ·
The North Kanara GSB Co-Operative Bank Limited ·
HDFC Bank Limited |
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Facilities : |
Fund Base – Rs.70.000 Millions NFB – Rs.70.000 Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. K. Thanawala and Company Chartered Accountants |
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Address : |
140/ 142, Princess Street, |
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PAN.: |
AAAPJ5959K |
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Associates/Subsidiaries : |
K.P. Enterprises Address: 20, Babu Building, 375/ 377, Lamington Road, Mumbai – 400 007, Maharashtra, India Line of Business: Dealer and Importer of Computer Peripherals and Accessories. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
38.679 |
30.170 |
20.576 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
43.679 |
35.170 |
25.576 |
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LOAN FUNDS |
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1] Secured Loans |
60.956 |
58.357 |
37.730 |
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2] Unsecured Loans |
36.443 |
26.573 |
13.858 |
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TOTAL BORROWING |
97.399 |
84.930 |
51.588 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
141.078 |
120.100 |
77.164 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.490 |
3.575 |
2.670 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.500 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.025 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
115.213
|
97.419
|
47.166
|
|
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Sundry Debtors |
173.340
|
112.384
|
74.359
|
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Cash & Bank Balances |
14.039
|
5.328
|
2.629
|
|
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Other Current Assets |
0.026
|
0.045
|
1.849
|
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Loans & Advances |
9.243
|
17.034
|
14.132
|
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Total
Current Assets |
311.861
|
232.210
|
140.135 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
163.762 |
106.603 |
57.601 |
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Other Current Liabilities & Provisions |
11.522
|
9.096
|
8.583 |
|
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Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
175.284
|
115.699
|
66.184
|
|
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Net Current Assets |
136.577
|
116.511
|
73.951
|
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MISCELLANEOUS EXPENSES |
0.011 |
0.014 |
0.018 |
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TOTAL |
141.078 |
120.100 |
77.164 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
1443.855 |
853.137 |
705.613 |
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Other Income |
14.451 |
1.393 |
1.925 |
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TOTAL (A) |
1458.306 |
854.530 |
707.538 |
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Less |
EXPENSES |
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|
|
|
|
|
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Cost of Purchases |
1410.246 |
850.846 |
669.725 |
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Administrative, Selling and Other Expenses |
41.756 |
29.993 |
22.325 |
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|
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Director’s Remuneration |
2.910 |
2.256 |
1.628 |
|
|
|
Increase/Decrease in Stock |
(17.793) |
(50.253) |
(5.979) |
|
|
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TOTAL (B) |
1437.119 |
832.842 |
687.699 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.187 |
21.688 |
19.839 |
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Less |
FINANCIAL
EXPENSES (D) |
7.449 |
6.242 |
5.689 |
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.738 |
15.446 |
14.150 |
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.951 |
0.880 |
0.706 |
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|
|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
12.787 |
14.566 |
13.444 |
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|
|
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Less |
TAX (H) |
4.278 |
4.963 |
5.163 |
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PROFIT AFTER TAX
(G-H)
(I) |
8.509 |
9.603 |
8.281 |
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|
|
|
|
Less |
FBT |
0.000 |
0.011 |
0.026 |
|
|
|
FBT SHORT
PROVISION |
0.000 |
0.000 |
0.013 |
|
|
|
ASSESSMENT DUES |
0.000 |
0.018 |
0.000 |
|
|
|
INCOME TAX |
0.000 |
0.000 |
0.058 |
|
|
|
|
|
|
|
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|
Add |
DEFERRED TAX
ASSET |
0.000 |
0.020 |
0.000 |
|
|
|
|
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|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
30.170 |
20.576 |
12.392 |
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|
|
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|
|
BALANCE CARRIED
TO THE B/S |
38.679 |
30.170 |
20.576 |
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.57 |
29.13 |
16.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.58
|
1.12
|
1.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.89
|
1.71
|
1.91 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.04
|
6.18
|
9.41 |
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.41
|
0.53 |
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
6.24
|
5.70
|
4.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
2.01
|
2.12 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors
for Goods |
|
|
56.796 |
|
Sundry Creditors
for Expenses |
|
|
0.805 |
|
Total |
163.762 |
106.603 |
57.601 |
|
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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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 |
No |
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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 |
No |
|
20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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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 |
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30) Major Shareholders, if available |
Yes |
FORM 8
|
Corporate
identity number of the company |
U52392MH2004PTC148754 |
|
Name of the
company |
CREATIVE
PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
20, Babu Building 375/377, Lamington Road, Mumbai – 400007,
Maharashtra, India Email Id : ketan@ecreativeindia.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Bank of India,
Mumbai MID Corporate, 70/80, M. G. Road, Bank of India Building, Mezzanine
Floor, Fort, Mumbai – 400001, Maharashtra, India Email Id : vlaxman@vsnl.com |
|
Nature of
instrument creating charge |
Hypothecation Cum
Loan Agreement (Plant and Machinery, Stocks and Book Debts) |
|
Date of
instrument Creating the charge |
12.07.2011 |
|
Amount secured by
the charge |
Rs.15.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate of 4% above the Base Rate presently 14% p.a. Terms of
repayment Adhoc CC Facility
shall be repayable in 90 days Margin As may be
stipulated by the bank from time to time Extent and
operation of the charge Hypothecation by
way of First Charge on Company's Plant and Machinery, Stocks and Book Debts
etc. to secure as a Continuing
Security for repayment of Rs.15.000 Millions, by the Company to the Bank with
interest/commission, charges, costs and expenses |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All tangible movable machineries and plants (both Present and future) whether installed or not and whether lying loose or at site or in transit or acquired All tangible movable properties and assets and stocks, whatsoever nature of the Borrower (both present and future) and including but without prejudice to the All the present and future book-debts, outstanding, money receivables, claims, bills which are now due and owing or which may at any time hereafter. |
FIXED ASSETS:
·
Air Conditioner
·
Computers
·
Electrical Equipments
·
EPABX Systems
·
Furniture and Fixtures
·
Nokia Phone
·
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.37 |
|
|
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.