MIRA INFORM REPORT
|
Report Date : |
19.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEXUS COMPUTERS PRIVATE LIMTIED |
|
|
|
|
Registered
Office : |
Sharda Nandeep Society Jai Prakash Nagar, Goregaon (East), Mumbai -
400063, Maharashtra |
|
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
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|
Year of
Establishment: |
16.08.1991 |
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Com. Reg. No.: |
11-062962 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.471 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U72210MH1991PTC062962 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Import and Export and Deal in all types of Computers Printers, Accessories
and Related equipment, as also development of computer software. |
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|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 29000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The management of the company has failed to file its financial with
the government department since 2011. As per the of 2011, the company was found normal for business
dealings. Trade relations are fair. Business is active. Payment terms are
unknown. The company can be considered for business dealings with some caution.
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 DECLINED
Management Non – Cooperative (91-22-24303566)
LOCATIONS
|
Registered Office : |
Sharda Nandeep Society Jai Prakash Nagar, Goregaon (East), Mumbai -
400063, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Sales and Services: |
64, Kakad Udyog Bhavan, Off, Kataria Road, Mahim (West), Mumbai –
400016, Maharashtra, India |
|
Tel. No.: |
91-22-24303566/24377235/24322218 |
|
E-Mail : |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Girish Madhukar Chitins |
|
Designation : |
Director |
|
Address : |
Sharda Nandeep Society Jai Prakash Nagar, Goregaon (East), Mumbai -
400063, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1964 |
|
Date of Appointment : |
16.08.1991 |
|
DIN No.: |
00126701 |
|
|
|
|
Name : |
Vaidehi Girish Chitins |
|
Designation : |
Director |
|
Address : |
Sharda Nandeep Society Jai Prakash Nagar, Goregaon (East), Mumbai -
400063, Maharashtra, India |
|
Date of Birth/Age : |
23.04.1971 |
|
Date of Appointment : |
01.04.1999 |
|
DIN No.: |
00126751 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Girish Madhukar Chitins |
|
23530 |
|
Vaidehi Girish Chitins |
|
23530 |
|
|
|
|
|
Total |
|
47060 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Import and Export and Deal in all types of Computers Printers,
Accessories and Related equipment, as also development of computer software. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||
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||||||||||||
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Bankers : |
Union Bank of India, Matunga (West) Branch, Navroji Mansion, 177, T.H
Kataria Marg, Matunga (West), Mumbai – 400016, Maharashtra, India |
||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V. R. Velhankar and Company Chartered Accountants |
|
Address : |
2, Laxmikant Apartment, 1st Floor, T H. Katari Raod,
Matunga (West), Mumbai – 400016, Maharashtra, India |
|
Tel No.: |
91-22-24213041/24306814/24333407 |
|
Email: |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABVP1388B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47060 |
Equity Shares |
Rs.10/- each |
Rs. 0.471
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.471 |
0.471 |
0.471 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.779 |
4.968 |
3.655 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.250 |
5.439 |
4.126 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.251 |
5.834 |
0.000 |
|
|
2] Unsecured Loans |
1.702 |
1.327 |
3.982 |
|
|
TOTAL BORROWING |
12.953 |
7.161 |
3.982 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20.203 |
12.600 |
8.108 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.254 |
1.511 |
0.322 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.402 |
0.403 |
0.403 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.029 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.722
|
1.596
|
0.365
|
|
|
Sundry Debtors |
27.512
|
15.470
|
9.686
|
|
|
Cash & Bank Balances |
0.039
|
0.011
|
0.114
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans, Advances & Deposits |
3.099
|
2.686
|
1.987
|
|
Total
Current Assets |
31.372
|
19.763
|
12.152
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.543
|
7.650
|
3.886
|
|
|
Other Current Liabilities |
0.835
|
0.635
|
0.900
|
|
|
Provisions |
1.657
|
1.016
|
0.250
|
|
Total
Current Liabilities |
13.035
|
9.301
|
5.036
|
|
|
Net Current Assets |
18.337
|
10.462
|
7.116
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.210 |
0.224 |
0.238 |
|
|
|
|
|
|
|
|
TOTAL |
20.203 |
12.600 |
8.108 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
99.104 |
67.641 |
43.040 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
96.141 |
65.494 |
42.188 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.963 |
2.147 |
0.852 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.268 |
0.187 |
0.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.695 |
1.960 |
0.815 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.884 |
0.648 |
0.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.811 |
1.312 |
0.594 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
384.824 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.83
|
1.94 |
1.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.59
|
9.92 |
6.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.36 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.79
|
0.36 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
2.12 |
2.41 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
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 |
OPERATIONS
During the year the company has recorded Income of Rs. 99.104 Millions
UNSECURED LOAN
|
PARTICULARS |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
From Director - Shareholders |
1.702 |
1.327 |
|
|
|
|
|
Total |
1.702 |
1.327 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72210MH1991PTC062962 |
|
Name of the
company |
NEXUS COMPUTERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sharda Nandeep Society Jai Prakash Nagar, Goregaon (East), Mumbai -
400063, Maharashtra, India Email: ncpl2000@vsnl.com |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
90351120 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
CIN: U72210MH1991PTC062962 Union Bank of India, Matunga (West) Branch, Navroji Mansion, 177, T.H Kataria
Marg, Matunga (West), Mumbai – 400016, Maharashtra, India |
|
Nature of
instrument creating charge |
Extension to the
Memorandum for Equitable Mortgage |
|
Date of
instrument Creating the charge |
28.03.2012 |
|
Amount secured by
the charge |
Rs.18.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Together with interest,
compound interest additional interest in case of default exchange
fluctuations, costs charges expenses etc Terms of
Repayment On Demand Margin As per sanction
terms. Extent and
Operation of the charge To additionally secure various Revised Credit
facilities aggregating to Rs.18.500 Millions granted by the Bank to the
Company as under :- 1.Cash Credit
(Hypothecation) Rs.12.500 Millions 2.Letter of
Guarantee Rs.6.000 Millions Total Aggregating
Rs.18.500 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Extension of
Equitable Mortgage by Deposit of Title Deeds by Oral Consent in respect of
Company's Immovable Property viz A Unit admeasuring about 456 sq.ft (Built up
area) being Unit No.64 (cont) standing in the
name of Nexus Computers Private Limited in the Building known as Kakad Udyog
Bhavan Co-Operative Society Limited constructed on all those piece and parcel
of land situated at (cont) Off L.J. Road,
Mahim Mumbai City District in the Registration District and Sub-District of
Mumbai City |
|
Date of
instrument modifying the charge |
21.07.2010 |
|
Particulars of
the present modification |
Vide this
modification charge amount enhanced from Rs.11.500 Millions to Rs.18.500
Millions by addition of Rs.7.000 Millions and secured against Extension of
Equitable Mortgage by Deposit of Title Deeds by Oral Consent in respect of
Company's Immovable Property viz A Unit admeasuring about 456 sq.ft (Built up
area) being Unit No.64 standing in the name of Nexus Computers Private
Limited in the Building known as Kakad Udyog Bhavan Co-Operative Society
Limited |
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.61.82 |
|
|
1 |
Rs.96.57 |
|
Euro |
1 |
Rs.82.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.