|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered Office : |
10-B, Abbas Building, 1st Floor,
Jalbhai Street, Near Dreamland Cinema,
Grant Road (East), Mumbai – 400
004, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
30.07.1997 |
|
|
|
|
Com. Reg. No.: |
11-109740 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 2.904 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72100MH1997PTC109740 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP15087C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCP1741K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Trader, Dealer and Distributor of Computer Components, Peripherals and
Accessories. |
|
|
|
|
No. of Employees : |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 399400 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management has failed to file its financial for the year 2012 with the government
department. As per previous year’s, the profitability of the company seems to be
low. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealing 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ganesh B |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-23814000 |
|
Date : |
04.04.2012 |
LOCATIONS
|
Registered Office : |
10-B, Abbas Building, 1st Floor, Jalbhai Street, Near
Dreamland Cinema, Grant Road
(East), Mumbai – 400 004, Maharashtra,
India. |
|
Tel. No.: |
91-22-23814000/ 61193200 |
|
Fax No.: |
91-22-23808626 |
|
E-Mail : |
corporates@pacificinfotech.com
|
|
Website : |
|
|
Area : |
2500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Gala No. 4, 1st Floor, Dhanshri Complex, P.G. Solanki Path (Ghas
Galli), Off Lagminton Road, Near Minerva Theatre, Mumbai – 400 007,
Maharashtra, India |
|
Tel. No.: |
91-22-23002938 |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at : ·
Thane ·
Kalmboli ·
Pune ·
Ahmedabad ·
Goa ·
Nagpur ·
Delhi ·
Kolkata ·
Ulhasnagar |
|
|
|
|
Showrooms : |
·
IT Square–Mumbai 396, Shamitha Terrace, Shop No. 9 and 10,
Lamington Road, Opp. Naaz Cinema, Mumbai-04, Tel: 91-22-32482255/32492255 Email:itsquare@pacificinfotech.com ·
IT Square – Pune 2401, 1st Floor, East Street, Next To
Indusind Bank, Old Pool Gate, Pune - 411 001, Tel: 91-20-26332059/26332047 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ashok Bhagwandas Jeswani |
|
Designation : |
Director |
|
Address : |
301/ C, Teak Wood Apartments, |
|
Date of Birth/Age : |
06.01.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.07.1997 |
|
DIN : |
00996936 |
|
|
|
|
Name : |
Mr. Kishore Bhagwandas Jeswani |
|
Designation : |
Director |
|
Address : |
501/ F, Pine Wood Apartments, |
|
Date of Birth/Age : |
12.07.1966 |
|
Qualification : |
Degree in Pharmacy |
|
Date of Appointment : |
30.07.1997 |
|
DIN : |
01153889 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh B |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ashok B. Jeswani |
|
50935 |
|
Kishore B. Jeswani |
|
52053 |
|
Ramesh Jeswani |
|
1 |
|
Rajkumar Jeswani |
|
1 |
|
Seema Jeswani |
|
1 |
|
Savita Jeswani |
|
1 |
|
Kanta Sadwani |
|
1 |
|
Vandana Sadwani |
|
1 |
|
Ram Ratan Chirania – HUF |
|
1 |
|
Bhisham R. Sahani |
|
1 |
|
Poonam Sahani |
|
1 |
|
Pushpa C. Rupani |
|
1 |
|
Udhav C. Rupani |
|
1 |
|
Chandani Rupani |
|
1 |
|
|
|
2000 |
|
Elpee Corporate Services Private Limited |
|
5000 |
|
Aryman Merchandise Private Limited |
|
3000 |
|
|
|
|
|
Total |
|
113000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
8.84 |
|
Directors
or relatives of directors |
|
91.16 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Dealer and Distributor of Computer Components, Peripherals and
Accessories. |
|
|
|
|
Products : |
|
|
|
|
|
Agencies Held : |
|
|
|
|
|
Imports : |
|
|
Products : |
Computer Parts |
|
Countries : |
Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customers : |
Other |
||||||||||||
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||||||||||||
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No. of Employees : |
130 (Approximately) |
||||||||||||
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||||||||||||
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Bankers : |
|
||||||||||||
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|
||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Patodia and Associates Chartered Accountants |
|
Address : |
A/8, Narayan Plaza, 26-A, Chandivali Road, Off Saki Vihar Road,
Andheri East, Mumbai- 400 072, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Activity : Installation
and Services |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital : Rs.110.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.91.404
Millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- Each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
290400 |
Equity Shares |
Rs.10/- Each |
Rs. 2.904 millions |
|
|
|
|
|
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 |
2.904 |
1.130 |
1.130 |
|
|
2] Share Application Money |
41.500 |
18.200 |
0.000 |
|
|
3] Reserves & Surplus |
55.446 |
37.605 |
31.038 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
99.850 |
56.935 |
32.168 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
164.597 |
111.012 |
61.733 |
|
|
2] Unsecured Loans |
31.768 |
34.187 |
33.296 |
|
|
TOTAL BORROWING |
196.365 |
145.199 |
95.029 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
296.215 |
202.134 |
127.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.030 |
10.616 |
6.866 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.550 |
0.550 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.167 |
0.060 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
151.459
|
111.402
|
87.276 |
|
|
Sundry Debtors |
192.340
|
145.317
|
98.675 |
|
|
Cash & Bank Balances |
9.318
|
36.951
|
7.686 |
|
|
Other Current Assets |
23.738
|
15.038
|
10.780 |
|
|
Loans & Advances |
16.049
|
3.108
|
2.498 |
|
Total
Current Assets |
392.904
|
311.816
|
206.915 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
61.996
|
89.154
|
55.851 |
|
|
Other Current Liabilities |
28.719
|
20.937
|
23.458 |
|
|
Provisions |
15.721
|
10.973
|
7.530 |
|
Total
Current Liabilities |
106.436
|
121.064
|
86.839 |
|
|
Net Current Assets |
286.468
|
190.752
|
120.076 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.156 |
0.208 |
|
|
|
|
|
|
|
|
TOTAL |
296.215 |
202.134 |
127.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1189.596 |
966.148 |
|
|
|
Other Income from Operating Activities |
|
9.339 |
30.909 |
|
|
|
Other Income |
|
3.869 |
3.307 |
|
|
|
TOTAL (A) |
|
1202.804 |
1000.364 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Traded |
|
1139.776 |
937.608 |
|
|
|
Direct Expenses |
|
3.669 |
1.376 |
|
|
|
Employee Cost |
|
14.808 |
15.147 |
|
|
|
Administrative, Selling and Distribution Expense |
|
13.854 |
18.411 |
|
|
|
TOTAL (B) |
|
1172.107 |
972.542 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
30.697 |
27.822 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
20.282 |
18.019 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
10.415 |
9.803 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.777 |
0.821 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
9.638 |
8.982 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
3.071 |
3.639 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
6.567 |
5.343 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
21.863 |
16.520 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
28.430 |
21.863 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
NA |
1.547 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
58.11 |
51.42 |
|
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Sales Turnover [Approximately] |
2350.000 |
950.000 |
1600.000 |
The above information has been parted by Mr. Ganesh B - Chief Finance
Officer
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.55
|
5.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.81
|
0.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.99
|
4.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.17
|
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.03
|
4.68
|
5.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.69
|
2.58
|
2.38 |
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 |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
61.996 |
89.154 |
55.851 |
|
|
|
|
|
|
Total |
61.996 |
89.154 |
55.851 |
|
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 |
Yes |
|
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
five years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
UNSECURED LOANS
|
PARTICULARS |
As on 31.03.2011 Rs. in Millions |
As on 31.03.2010 Rs. in Millions |
|
Rupee term loans banks unsecured |
0.000 |
12.969 |
|
Rupee term loans financial institutions unsecured |
1.700 |
5.489 |
|
Loans directors unsecured |
0.504 |
1.047 |
|
Other debt unsecured |
29.564 |
14.682 |
|
|
31.768 |
34.187 |
|
|
||
FIXED ASSETS
·
Computer
·
Air Conditioner
·
Furniture and Fixture
·
Mobile Phone
·
Office Equipments
·
Machinery
·
Television
·
Land and Building
·
Vehicle
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.59.85 |
|
|
1 |
Rs.92.31 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.