Business
information report
1. Summary Information
|
|
|
Country |
|
|
Company Name |
COMPUAGE INFOCOM
LIMITED |
Principal Name 1 |
Mr. Atul H.
Mehta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Bhavesh H.
Mehta |
|
|
|
Registration # |
11-135914 |
|
Street Address |
601, D-Wing,
Lotus Corporate Park, Ram Mandir Lane, Near Jai Coach Western Express
highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
||
|
Established Date |
27.07.1999 |
SIC Code |
-- |
|
Telephone# |
91-22-23842200/1 |
Business Style 1 |
Dealer |
|
Fax # |
91-22-67114445 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Computer Peripherals |
|
|
# of employees |
800
(Approximately) |
Product Name 2 |
- |
|
Paid up capital |
Rs.
66,550,000 /- |
Product Name 3 |
- |
|
Shareholders |
Promoter and
Promoter Group- 67.83 % Public
shareholding- 32.17% |
Banking |
HDFC Bank
Limited |
|
Public Limited Corp. |
YES |
Business Period |
13 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba
(47) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
- |
Adit E Commerce Private Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,208,227,000 |
Current Liabilities |
1,824,861,000 |
|
Inventories |
1,979,474,000 |
Long-term Liabilities |
2,012,753,000
|
|
Fixed Assets |
175,097,000 |
Other Liabilities |
20,369,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
3,857,983,000 |
|
Invest& other Assets |
24,321,000 |
Retained Earnings |
462,586,000 |
|
|
|
Net Worth |
529,136,000 |
|
Total Assets |
4,387,119,000 |
Total Liab. & Equity |
4,387,119,000 |
|
Total Assets (Previous Year) |
5,339,509,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
15,444,405,000 |
Net Profit |
10,207,700 |
|
Sales(Previous yr) |
13,146,814,000 |
Net Profit(Prev.yr) |
86,727,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
601, D-Wing, Lotus Corporate Park, Ram Mandir Lane, Near Jai Coach
Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
27.07.1999 |
|
|
|
|
Com. Reg. No.: |
11-135914 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 66.550 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L99999MH1999PLC135914 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company's Shares are Listed on
the Stocks Exchanges. |
|
|
|
|
Line of Business : |
Subject is engaged in trading in Computers parts and peripherals and Telecom
Products and also provides products support services for Information
Technology products. |
|
|
|
|
No. of Employees : |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Performance capacity of the company seems to be high. Financially doing well.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB+ (Fund base limit) |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
November 2012 |
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.
LOCATIONS
|
Registered Office : |
601, D-Wing, Lotus Corporate Park, Ram Mandir Lane, Near Jai Coach
Western Express highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Tel. No.: |
91-22-67114444 / 23842200 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Fax No.: |
91-22-67114445 / 23842210 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
E-Mail : |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Website : |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Branches / Offices : |
Located at:
|
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Atul H.
Mehta |
|
Designation : |
Chairman Cum Managing Director |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
MBA – U.S.A |
|
Experience : |
24 Years |
|
Date of Appointment : |
08.09.2011 |
|
|
|
|
Name : |
Mr. Bhavesh H.
Mehta |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
M.Com |
|
Experience : |
17 Years |
|
Date of Appointment : |
18.10.2011 |
|
|
|
|
Name : |
Mr. G.S. Ganesh |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
53 Years |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
18.10.2000 |
|
|
|
|
Name : |
Mr. Vijay
Agarwal |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Ms. Preeti
Trivedi |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Ms. Nilufer Irani |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
4,513,953 |
67.83 |
|
|
4,513,953 |
67.83 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
4,513,953 |
67.83 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
40 |
0.00 |
|
|
40 |
0.00 |
|
|
|
|
|
|
202621 |
3.04 |
|
|
|
|
|
|
474116 |
7.12 |
|
|
651693 |
9.79 |
|
|
812577 |
12.21 |
|
|
24862 |
0.37 |
|
|
54725 |
0.82 |
|
|
4278 |
0.06 |
|
|
724200 |
10.88 |
|
|
4355 |
0.07 |
|
|
157 |
0.00 |
|
|
2141007 |
32.17 |
|
Total Public shareholding (B) |
2141047 |
32.17 |
|
Total (A)+(B) |
6655000 |
100.00 |
|
© Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0000 |
0.00 |
|
|
0000 |
0.00 |
|
|
0000 |
0.00 |
|
Total (A)+(B)+(C) |
6655000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading in Computers parts and peripherals and Telecom
Products and also provides products support services for Information
Technology products. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Bombay Mercantile Co-operative Bank Limited ·
HDFC Bank Limited ·
Indian Overseas Bank ·
Standard Chartered Bank ·
ICICI Bank Limited ·
Barclays Bank ·
Indian Bank ·
Kotak Mahindra Bank ·
Central Bank of India ·
ING Vysya Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
M/S. B.V. Dalal
and Company. Chartered
Accountants |
|
|
|
|
Other Related Parties : |
|
|
|
|
|
Subsidiary Companies : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19254000 |
Equity Shares |
Rs.10/- each |
Rs. 192.540 Millions |
|
4665600 |
Preference Shares |
Rs.0.10/- (Ten Paise) each |
Rs. 0.467 Million |
|
3369344 |
Preference Shares |
Rs.10/- each |
Rs. 33.693 Millions |
|
|
Total |
|
Rs. 226.700
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6655000 |
Equity Shares |
Rs.10/- each |
Rs.66.550 Millions |
Notes
Reconciliation
of the number of shares and amount outstanding at the beginning and at the end
of the reporting period:
|
|
31.03.2012 |
31.03.2011 |
||
|
Particulars |
Number |
Rupees |
Number |
Rupees |
|
At the beginning of the Period |
5.180 |
51.800 |
5.180 |
51.800 |
|
Issued during the period |
1.475 |
14.750 |
0.000 |
0.000 |
|
Outstanding at the end of the period |
6.655 |
66.550 |
5.180 |
51.800 |
Terms/Rights
attached to equity shares
The
company has only one class of equity shares having a par value of Rs. 10 per Share.
Each holder of equity shares is entitled to one vote per share.
During
the year ended 31st March 2012, Interim Dividend of Rs.1 per Share has been
distributed to Equity Share holders and final Dividend of Rs.1/= per share has
been proposed by the Board of Directors is subject to approval of share holders
in the ensuing Annual General meeting.
In
the event of liquidation of the company, the holder of equity shares will be
entitled to receive remaining assets of the company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
equity shares held by shareholders.
Details of shares held by each shareholder holding more
than 5% shares:
|
|
31.03.2012 |
31.03.2011 |
||
|
Particulars |
Number of shares |
% of holding |
Number of shares |
% of holding |
|
Atul Harkishandas Mehta |
1.783 |
26.75 |
1.283 |
24.77 |
|
Bhavesh Harkishandas Mehta |
1.783 |
26.75 |
1.283 |
24.77 |
|
Ajay Harkishandas Mehta |
0.953 |
14.33 |
0.953 |
18.39 |
As per
of the company, including its register of shareholders/members and other
declarations received from shareholders regarding beneficial interest, the
above shareholding represents both legal and beneficial ownerships of shares.
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 |
66.550 |
51.800 |
51.800 |
|
|
2] Share Application Money |
0.000 |
30.150 |
30.150 |
|
|
3] Reserves & Surplus |
462.586 |
240.550 |
165.904 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
529.136 |
322.500 |
247.854 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1459.473 |
749.134 |
592.483 |
|
|
2] Unsecured Loans |
553.280 |
569.629 |
472.593 |
|
|
TOTAL BORROWING |
2012.753 |
1318.763 |
1065.076 |
|
|
DEFERRED TAX LIABILITIES |
11.659 |
9.271 |
4.308 |
|
|
|
|
|
|
|
|
TOTAL |
2553.548 |
1650.534 |
1317.238 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
175.097 |
73.802 |
40.626 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
24.321 |
16.092 |
16.127 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1979.474
|
1415.914
|
1033.485
|
|
|
Sundry Debtors |
1518.906
|
1332.637
|
956.043
|
|
|
Cash & Bank Balances |
319.428
|
283.187
|
302.222
|
|
|
Other Current Assets |
14.612 |
0.000 |
0.000 |
|
|
Loans & Advances |
355.281
|
445.893
|
295.787
|
|
Total
Current Assets |
4187.701
|
3477.631
|
2587.537 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1521.324
|
150.507
|
62.722
|
|
|
Other Current Liabilities |
303.537
|
1674.728
|
1175.229
|
|
|
Provisions |
8.710
|
104.061
|
89.101
|
|
Total
Current Liabilities |
1833.571
|
1929.296
|
1327.052 |
|
|
Net Current Assets |
2354.130
|
1548.335
|
1260.485 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
12.305 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2553.548 |
1650.534 |
1317.238 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15444.405 |
13739.081 |
10878.017 |
|
|
|
Other Income |
66.858 |
9.976 |
6.919 |
|
|
|
TOTAL (A) |
15511.263 |
13749.057 |
10884.936 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
7 |
|
Purchased of Stock-in-Trade |
15171.961 |
-- |
-- |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-trade |
(563.560) |
-- |
-- |
|
|
|
Employee benefit Expenses |
198.008 |
-- |
-- |
|
|
|
Other Expenses |
346.578 |
-- |
-- |
|
|
|
Cost of goods sold |
-- |
12501.943 |
9944.911 |
|
|
|
Employee Cost |
-- |
170.919 |
124.091 |
|
|
|
Administrative and selling expenses |
-- |
844.732 |
634.072 |
|
|
|
TOTAL (B) |
15152.987 |
13517.594 |
10703.074 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
358.276 |
231.463 |
181.862 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
189.567 |
90.505 |
80.817 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
168.709 |
140.958 |
101.045 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.744 |
11.769 |
5.517 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
151.965 |
129.189 |
95.528 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
49.888 |
42.462 |
32.645 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
102.077 |
86.727 |
62.883 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
217.378 |
142.732 |
91.970 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
6.655 |
0.000 |
0.000 |
|
|
|
Dividend Distribution tax |
2.210 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
6.655 |
10.360 |
10.360 |
|
|
|
Dividend Distribution Tax |
0.000 |
1.721 |
1.761 |
|
|
BALANCE CARRIED
TO THE B/S |
303.935 |
217.378 |
142.732 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
7.752 |
5.241 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.34 |
16.74 |
12.14 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2012 1st
Quarter |
30.09.2012 2nd
Quarter |
|
Net Sales |
|
4647.140 |
4644.310 |
|
Total Expenditure |
|
4576.250 |
4536.710 |
|
PBIDT (Excl OI) |
|
70.890 |
107.600 |
|
Other Income |
|
18.880 |
17.310 |
|
Operating Profit |
|
89.770 |
124.910 |
|
Interest |
|
39.360 |
77.530 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
50.410 |
47.380 |
|
Depreciation |
|
5.890 |
5.920 |
|
Profit Before Tax |
|
44.520 |
41.460 |
|
Tax |
|
13.00 |
11.540 |
|
Provisions and
contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
31030 |
29.920 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
31.030 |
29.920 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.66 |
0.63
|
0.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.98 |
0.94
|
0.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.46 |
3.64
|
3.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.40
|
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.46 |
10.07
|
9.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28 |
1.80
|
1.95 |
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 |
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 |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
Yes |
UNSECURED
LOAN
|
Particulars |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
ECB Loan |
0.000 |
8.920 |
|
Short Term
Borrowings |
|
|
|
Loans and Advance from related parties repayable on demand |
46.550 |
33.106 |
|
Loans and Advance from other parties repayable on demand |
506.730 |
527.603 |
|
TOTAL |
553.280 |
569.629 |
BUSINESS REVIEW:
The year
gone by has been a good year with company closing on a profitable note. The
company's revenue grew to Rs15444.405 Millions registering a growth of 17.48%
and consolidated revenue growing to Rs.15917.676 Millions, registering a growth
of 17.68%.
The profit
after tax grew to Rs 102.077 Millions, growing by 17.70% over the previous
year. Consolidated profit after tax grew to Rs.102.840 Millions, growing by
19.65%.
FUTURE
OUTLOOK:
Future outlook of
Compuage is very promising. It operates in growth oriented industry which is
likely to grow by 12% per annum for the next few years. The company being small
will be able to grow more than the IT industry’s growth rate.
SUBSIDIARY
COMPANIES:
The company
has(03) three Subsidiaries of the Company as on March 31st,2013
which are as under
(1) Greenvision
Technologies Private limited
(2) ADIT
E-commerce Private limited
(3) Compuage
Infocom (S) Pte. Limited
Greenvision Technologies Private limited
Greenvision
Technologies Private limited was incorporated on March 19, 2008 with Compuage
holding 52% of its Equity Share Capital and voting power. As on March 20, 2009
they acquired additional 24% of the Equity Share Capital of Greenvision. As at
March 31, 2012, they hold 76% of the Equity Share Capital and voting power of
Greenvision Technologies Private limited
Greenvision
Technologies Private limited focuses on Power Solutions for the Enterprise
Customers and sealed Maintenance free Batteries for the UPS segment. The
Company is also exploring manufacturing of Batteries.
During the year
Greenvision Technologies Private limited has achieved a turnover of Rs.273.606
millions and has made a net profit before tax of Rs. 1.112 millions
ADIT E-commerce Private limited
ADIT Esss-commerce
Private limited was incorporated on May 17, 2008, they acquired 80% of the
Equity in the Company on January 19,2010. The investment was made in the
Company to take advantage of the growing online business.
Compuage Infocom (S) Pte. limited
Compuage Infocom (S)
Pte. limited is wholly owned subsidiary and was formed to expand the business
operation in Singapore.
Information
Techology
Compuage continues to upgrade its IT unfrastructure and has a solid
backbone to support the business.
MANAGEMENT DISCUSSIONS
and ANALYSIS
Overview
Industry outlook:
Changing
economic and business conditions and rapid technological innovation are
creating an increasingly competitive market environment that is driving
corporations to transform their operations. Consumers of products and services
are increasingly demanding accelerated delivery times and lower prices.
Compuage
has increased its focus on a sustained efficiency program across the
enterprise. This includes working towards improving cash collection, controlling
expenditure and optimizing wherever possible. These measures are showing
visible success.
Compuages
growth has occurred within a challenging economic climate. The Company has
demonstrated leadership, remained disciplined in execution and faced a volatile
market with a positive 'can do 'attitude. Looking towards the future, the
Company will remain focused on agility, innovation and operational excellence.
The
company continues to focus on both extension of geographic reach in emerging
growth markets as well as on development and growth of new customer accounts
across major product lines to cement its leading position on storage media and
peripherals.
The
management is also exploring into other businesses which offer better margins
and make use of its infrastructure and its Distribution expertise. The company
through its subsidiary Greenvision is exploring manufacture of batteries for
UPS inverters, and Telecom sector. This initiative too shall enhance the
profitability of the company.
Future Outlook
Compuage
is also exploring distribution in other areas such as Home Appliances, Consumer
Electronics and Telecom products, thereby leveraging in its infrastructure and
of course optimizing its core competency in distribution Greenvision, its
subsidiary, focusing on Power Protection Segment and Services is preparing to
set up a manufacturing unit to manufacture batteries for UPS, Inverters and
Telecom. All these are high growth areas and offer good potential. This will
help the company in 2 ways, one, derisk its dependence on IT Distribution and
two, improve the bottom line.
The
year ahead looks promising.
Operational Performance
The
Last Financial Year 2011-12, was a good year with company closing on a
profitable note. The company's revenue grew to Rs. 1544.405
Millions registering a growth of 17.48% and consolidated
revenue growing to Rs. 15917.676 Millions,
registering a growth of 17.68%. The profit after tax grew to Rs. 102.077
Millions, growing by 17.70 over the previous year.
Consolidated profit after tax grew to Rs.102.840
Millions, growing by 19.65%.
Landmark Events:
In
the year gone by Compuage has continued to invest in infrastructure, reach and
product portfolio all of which shall enable the company to continue its growth.
New products signups were Cisco Networking Products, Dell Netbooks , Energy
Range of Power Products, HCL range of PCs, HP Range of Consumables (with
Printers already with them), Kingston complete Range of Memory Products and
Microsoft Licensing Products.
UNAUITED FINANCIAL
RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2012
Rs in Millions
|
Particulars |
Quarter Ended |
Half year ended |
|
|
|
30.09.2012 |
30.06.2012 |
30.09.2012 |
|
|
|
|
|
|
Net Sales/ Income from Operations |
4644.306 |
4647.141 |
9291.447 |
|
1. (b) Other Operating Income |
0.000 |
0.000 |
0.000 |
|
Total Income
From operations |
4644.306 |
4647.141 |
9291.447 |
|
2. Expenditure |
|
|
|
|
a. Cost of goods sold |
4388.205 |
4447.264 |
8835.469 |
|
b. Employee cost |
53.054 |
52.960 |
106.014 |
|
d. Depreciation and amortization expense |
5.923 |
5.887 |
11.810 |
|
e. Other Expenditure |
95.447 |
76.027 |
171.474 |
|
Total
Expenditure |
4542.629 |
4582.130 |
9124.767 |
|
3. Profit from Operations
before Other Income, Interest and Exceptional Items (1-2) |
101.677 |
65.003 |
166.880 |
|
4. Other Income |
17.312 |
18.880 |
36.192 |
|
5. Profit before Interest and Tax
|
118.988 |
83.833 |
202.872 |
|
6. Interest |
77.634 |
39.359 |
116.893 |
|
7. Profit from Ordinary
Activities before Tax and exceptional
items |
41.455 |
44.524 |
85.973 |
|
8. Exceptional items |
0.000 |
0.000 |
0.000 |
|
9. Profit from Ordinary
Activities before Tax but before
exceptional items |
41.455 |
44.524 |
85.979 |
|
10. Tax Expenses |
11.539
|
13.495 |
25.034 |
|
11. Net profit from ordinary activities after tax (9-10) |
29.916 |
31.029 |
60.945 |
|
12. Extraordinary items |
0.000 |
0.000 |
0.000 |
|
13. Net profit/(loss) for the
period (11-12) |
29.916 |
31.029 |
60.945 |
|
14. Paid-up Equity Share Capital (face value Rs.10per share) |
66.550
|
66.550 |
66.550 |
|
15. Reserves excluding revaluation reserve as per balance sheet of
previous accounting year |
623.531 |
462.586 |
523.531 |
|
16. Earning Per Share |
|
|
|
|
a. Basic and b. Diluted |
4.50 |
4.86 |
9.16 |
|
A. Public shareholding |
|
|
|
|
- No. of shares |
2141047 |
2141047 |
2141047 |
|
- % of holding (to total shareholding) |
32.17 |
32.17 |
32.17 |
|
Promoters And Promoter Group Shareholding a) Pledged/ Encumbered |
|
|
|
|
-Number of Shares |
0.000 |
0.000 |
0.000 |
|
-% of Shares (As a % of the total Shareholding of Promoter and
Promoter Group) |
0.000 |
0.000 |
0.000 |
|
-% of Shares (as a % of the total share capital of the Company) |
0.000 |
0.000 |
0.000 |
|
b) Non Encumbered |
|
|
|
|
- Number of Shares |
4513953 |
4513953 |
4513953 |
|
-% of Shares (As a % of the total Shareholding of Promoter and
Promoter Group) |
100.00 |
100.00 |
100.00 |
|
-% of Shares (as a % of the total share capital of the Company) |
67.83 |
67.83 |
67.83 |
NOTES :
1.
The above result have been taken on record by the
Board of Directors at its meeting held on 9th November 2012.
2.
The company is in the business of distributors of
computer parts and peripherals in India having similar risks and rewards and
therefore there is only one geographical and business segment.
3.
The statutory auditors have carried out a limited
review of the unaudited financial result for the quarter ended 30th
September 2012.
4.
The statutory auditors of the company have applied
to ICAI for peer review certificate.
5.
With the effect from 12/9/2012, Adit Ecommerce
Private Limited was ceased to be the subsidiary of the company.
6.
Provision for tax, including delivered tax has been
worked out at normal corporate tax rates.
7.
Figures of subsidiary companies are not
incorporated in above result.
8.
Figures have been regrouped/rearranged, wherever
necessary.
9.
Statement of assets and liabilities as on 30th
September 2012 as given below.
STATEMENT OF ASSETS AND LIABILITIES
|
Particular |
31.09.2012 (Rs. In Million) |
|
EQUITY AND
LIABILITIES |
|
|
Shareholders’
funds |
|
|
(a) Share capital |
66.550 |
|
(b) Reserves and surplus |
523.531 |
|
Sub-total
- Shareholders' funds |
590.081 |
|
|
|
|
Non-current
liabilities |
|
|
(a) Long-term borrowings |
165.107 |
|
(b) Other long-term liabilities |
11.659 |
|
(c) Long-term provisions |
0.950 |
|
Sub-total
- Non-current liabilities |
177.716 |
|
|
|
|
Current
liabilities |
|
|
(a) Short-term borrowings |
1796.618 |
|
(b) Trade payables |
2714.493 |
|
(c) Other current liabilities |
308.052 |
|
(d) Short-term provision |
0.000 |
|
Sub-total - Current
liabilities |
4819.163 |
|
TOTAL - EQUITY AND
LIABILITIES |
5586.960 |
|
|
|
|
ASSETS |
|
|
Non-current
assets |
|
|
(a) Fixed assets |
392.915 |
|
(b) Non-current investments |
21.688 |
|
(c) Long-term loans and advances |
1.239 |
|
(d) Deferred tax assets (net) |
0.000 |
|
|
|
|
Sub-total
- Non-current assets Current assets |
415.842 |
|
Current assets |
|
|
(a) Inventories |
2640.173 |
|
(b) Trade receivables |
1933.403 |
|
(c) Cash and cash equivalents |
415.524 |
|
(d) Short-term loans and advances |
172.253 |
|
(e) Other current assets |
8.743 |
|
(f) Current Investment |
1.022 |
|
Sub-total
- Current assets |
5171.118 |
|
TOTAL
- ASSETS |
5586.960 |
Fixed Assets:
·
Office Premises
·
Information Technology
·
Equipments
·
Vehicle
·
Office Equipment
·
Furniture and Fixture
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.53.94 |
|
|
1 |
Rs.86.24 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.