. Summary Information
|
Country |
|
||
|
Company Name |
SAVEX COMPUTERS
LIMITED |
Principal Name 1 |
Mr. Anil Ishwarlal Jagasia |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Anuradha Anil Jagasia |
|
Registration # |
11-046237 |
||
|
Street Address |
124-B, Maker Chambers III, Nariman Point, Mumbai-400 021, |
||
|
Established Date |
16.02.1988 |
SIC Code |
-- |
|
Telephone# |
91-22-22881616 |
Business Style 1 |
Distributor |
|
Fax # |
91-22-22041656 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Computers Hardware and Peripherals |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.40,000,000 (AS ON 31.03.2011) |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 99.96% |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
No |
Business Period |
25 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
Savex Singapore Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
NA |
Current Liabilities |
NA |
|
Inventories |
NA |
Long-term Liabilities |
NA |
|
Fixed Assets |
NA |
Other Liabilities |
NA |
|
Deferred Assets |
NA |
Total Liabilities |
NA |
|
Invest& other Assets |
NA |
Retained Earnings |
NA |
|
|
|
Net Worth |
NA |
|
Total Assets |
NA |
Total Liab. & Equity |
NA |
|
Total Assets (Previous Year) |
NA |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
28,120,619,000 |
Net Profit |
497,373,000 |
|
Sales(Previous yr) |
17,758,502,000 |
Net Profit(Prev.yr) |
259,955,000 |
MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAVEX COMPUTERS LIMITED [w.e.f. 01.07.1994] |
|
|
|
|
Formerly Known
As : |
SAVEX COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
124-B, Maker Chambers III, Nariman Point, Mumbai - 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of Incorporation
: |
16.02.1988 |
|
|
|
|
Com. Reg. No.: |
11-046237 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 40.000
Millions (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH1988PLC046237 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37240A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS5547H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of Information Technology Products and Mobile Phones. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Financially, the company is performing well. Trade relations are reported as
decent. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal business dealings on a usual
trade terms and conditions. NOTE: Balance Sheet of
the company for the year 2012 is not available, only profit and loss account
is available. |
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fun Based : (A-) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
|
|
|
Rating |
Short term Fun Based : (A2+) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
January, 2013 |
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 / Head Office : |
124-B, Maker Chambers III, Nariman Point, Mumbai - 400021, |
|
Tel. No.: |
91-22-22881616 / 1717 / 22799999 |
|
Fax No.: |
91-22-22041656 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located
at: Ø Mumbai Ø Bhiwandi Ø Ahmedabad Ø Ø Ø Kolkata Ø Chennai Ø Ø Ø Ø Ø Ø Noida Ø Jaipur Ø Ø Pune Ø Ø Ø Nashik Ø Ø Ø Ø Vijaywada Ø Dehradun Ø Gurgaon Ø Ø Ø Ø Ø Ø Ø Parwanoo Ø Mangalore Ø Bhubaneshwar Ø Ø Guwahati Ø Ø Ø Ø Ø Ø Ø |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Anil Ishwarlal Jagasia |
|
Designation : |
Managing director |
|
Address : |
16, Soona Mahal, 143, |
|
Date of Birth/Age : |
24.08.1960 |
|
Qualification : |
B.E. Electronics |
|
Experience : |
31 Years |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ADHPJ5576A |
|
DIN No.: |
00031579 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U31909MH1988PLC046237 |
SAVEX COMPUTERS
LIMITED |
Managing
director |
01-04-11 |
16-02-88 |
- |
Active |
NO |
|
2 |
U99999MH1989PTC052939 |
CLEARPOINT
ELECTRONICS P. LTD. |
Director |
08-08-89 |
08-08-89 |
12-02-12 |
Active |
NO |
|
3 |
U72200MH1997PTC108864 |
SAVEX SOFTTECH
PRIVATE LIMITED |
Director |
18-06-97 |
18-06-97 |
- |
Active |
NO |
|
Name : |
Mrs. Anuradha Anil Jagasia |
|
Designation : |
Whole-time director |
|
Address : |
16, Soona Mahal, 143, |
|
Date of Birth/Age : |
15.06.1962 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ACYPJ3749F |
|
DIN No.: |
00031603 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current designation
of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U31909MH1988PLC046237 |
SAVEX COMPUTERS
LIMITED |
Whole-time
director |
01-04-11 |
16-02-88 |
- |
Active |
NO |
|
Name : |
Mr. Jayant Harkisandas Goradia |
|
Designation : |
Whole-time director |
|
Address : |
203, Asha Niketan, |
|
Date of Birth/Age : |
04.09.1960 |
|
Qualification : |
B.E. Electronics |
|
Experience : |
31 Years |
|
Date of Appointment : |
23.10.2001 |
|
PAN No.: |
AABPG2007J |
|
DIN No.: |
00031623 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U99999MH1989PTC052939 |
CLEARPOINT ELECTRONICS
P. LTD. |
Director |
08-08-89 |
08-08-89 |
- |
Active |
NO |
|
2 |
U31909MH1988PLC046237 |
SAVEX COMPUTERS
LIMITED |
Whole-time
director |
23-10-01 |
23-10-01 |
- |
Active |
NO |
|
Name : |
Mr. Devang Achyut Pandya |
|
Designation : |
Whole-time director |
|
Address : |
13, Vora Bhuvan, |
|
Date of Birth/Age : |
05.06.1964 |
|
Qualification : |
D.E. Electronics |
|
Experience : |
30 Years |
|
Date of Appointment : |
23.10.2001 |
|
PAN No.: |
AABPP7117J |
|
DIN No.: |
00576033 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U31909MH1988PLC046237 |
SAVEX COMPUTERS
LIMITED |
Whole-time
director |
01-10-09 |
23-10-01 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Ajmera |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anil Ishwarlal Jagasia |
|
199100 |
|
Anil Ishwarlal Jagasia jointly with Anuradha Anil Jagasia |
|
3598200 |
|
Anuradha Anil Jagasia |
|
200 |
|
Anuradha Anil Jagasia jointly with Anil Ishwarlal Jagasia |
|
600 |
|
Deepak L. Dudhane |
|
200 |
|
Deepak L. Dudhane jointly with Sreedhara D. Dudhane |
|
600 |
|
Raunak Anil Jagasia |
|
50000 |
|
Raunak Anil Jagasia jointly with Anuradha Anil Jagasia |
|
150000 |
|
Ravindra L. Dudhane |
|
200 |
|
Ravindra L. Dudhane jointly with Anita R. Dudhane |
|
600 |
|
|
|
100 |
|
Devang Achyut Pandya |
|
100 |
|
Jayant Harkisandas Goradia |
|
100 |
|
Total |
|
4000000 |
AS ON 25.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.96 |
|
Other
top fifty shareholders |
|
0.04 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Information Technology Products and Mobile Phones. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N.K. Kalra and Associates Chartered Accountants |
|
Address : |
Sai Chambers, 1st Floor, Opposite Gulmarg Co-operative Housing Society,
R.C. Marg, Chembur Naka, Mumbai - 400071, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPK9845K |
|
|
|
|
Subsidiaries : |
Savex |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
v
Clearpoint Electronics Private Limited
[U99999MH1989PTC052939] v
Tech-E v
Savex Corporation |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
40.000 |
40.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
861.905 |
604.748 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
901.905 |
644.748 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1774.591 |
1564.315 |
|
|
2] Unsecured Loans |
|
140.000 |
120.000 |
|
|
TOTAL BORROWING |
|
1914.591 |
1684.315 |
|
|
DEFERRED TAX LIABILITIES |
|
1.158 |
0.592 |
|
|
|
|
|
|
|
|
TOTAL |
|
2817.654 |
2329.655 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
49.583 |
30.189 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.259 |
0.091 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1499.349
|
1044.675 |
|
|
Sundry Debtors |
|
1656.563
|
1421.996 |
|
|
Cash & Bank Balances |
|
74.532
|
37.316 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
350.488
|
260.071 |
|
Total
Current Assets |
|
3580.932
|
2764.0588 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
486.165
|
232.712 |
|
|
Other Current Liabilities |
|
86.296
|
64.993 |
|
|
Provisions |
|
240.799
|
167.188 |
|
Total
Current Liabilities |
|
813.260
|
464.893 |
|
|
Net Current Assets |
|
2767.672
|
2299.165 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.140 |
0.210 |
|
|
|
|
|
|
|
|
TOTAL |
|
2817.654 |
2329.655 |
|
Note: Balance Sheet of
the company for the year 2012 is not available, only profit and loss account is
available.
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28120.619 |
17758.502 |
11120.845 |
|
|
|
Other Income |
15.965 |
14.266 |
6.935 |
|
|
|
TOTAL (A) |
28136.584 |
17772.768 |
11127.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
27179.652 |
17335.952 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(518.442) |
(454.674) |
|
|
|
|
Employee benefit expense |
228.018 |
166.372 |
|
|
|
|
Other expenses |
263.910 |
181.096 |
|
|
|
|
TOTAL (B) |
27153.138 |
17228.746 |
22255.56 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
983.446 |
544.022 |
428.345 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
227.045 |
140.755 |
120.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
756.401 |
403.267 |
307.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.581 |
10.593 |
6.754 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
741.820 |
392.674 |
301.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
244.447 |
132.719 |
105.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
497.373 |
259.955 |
195.372 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
740.278 |
503.122 |
330.558 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
N.A. |
20.000 |
20.000 |
|
|
|
Dividend |
|
2.400 |
2.400 |
|
|
|
Tax on Dividend |
|
0.399 |
0.408 |
|
|
BALANCE CARRIED
TO THE B/S |
N.A. |
740.278 |
503.122 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
26.880 |
4.832 |
N.A. |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
709.373 |
454.359 |
217.305 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
124.34 |
64.99 |
48.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.77
|
1.46
|
1.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.64
|
2.21
|
2.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
|
10.82
|
10.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A.
|
0.44
|
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
N.A.
|
3.02
|
3.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
N.A.
|
4.40
|
5.95 |
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 |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans directors unsecured |
|
140.000 |
|
Total |
N.A. |
140.000 |
OPERATIONS
I can say that the
last financial year was one of the best years from a business prospective.
Their Company performed very well and the same is reflected in the results.
Good demand for products, exploring new business opportunities, starting
business with new vendors and better utilization of available resources has
resulted in an outstanding performance of their Company.
It gives me great
pleasure to share with you the highlights of their Company’s performance during
the year 2010-11:
1. Gross revenue
increased from Rs 11611.408 Millions in F.Y 10 to Rs 18669.986 Millions in F.Y
11, which is an increase of 60.79%
2. Their Company earned a net profit after tax of Rs 259.955 Millions in
FY 11 as against Rs 195.372 Millions of FY10, which is an increase of 33.06%
During the year
their Company started
As informed you in
last AGM that we have incorporated one Subsidiary Company at
Their Company is a
National Distributor for Hewlett Packard India Sales Private Limited, Logitech
India, Samsung Electronics India Private Limited, Acer India Private Limited and
Microsoft Licensing GP. The products marketed by their Company are Notebooks,
Desktops, Inkjet and Laser Printers, plotters, server and storage products,
Coltheir Monitors, TFT monitors, Cartridges, Toners, Keyboards, Hard Disk
Drives, Optical Disk Drives, Mouse, Webcams, Microsoft Software, Accessories
and other Computer peripherals.
PRESENT SCENARIO
As we step into
the new fiscal, we also get ready to complete the silver jubilee of their
operations. Needless to say that it has been tremendous journey. During these
two and half decades their Company has performed well and is performing well
during the current financial year too. The Directors of the Company have put
all efforts to control costs and simultaneously increase the revenue of the
Company by approaching other branded Companies for distributorship and also by
opening up newer geographies.
The current
environment presents a host of challenges. Inflation appears sticky and the GDP
growth may be moderate in the near term. Competitive pressure will be on the
rise. None of these challenges are new. Their ability to steer through these
conditions and lead the market is reflected in the numbers we have delivered.
The Company has a
strong portfolio of MNC brands like HP, Samsung, Acer, Logitech and Microsoft
which are the best IT vendors in the market. Reaching over 400 cities across
By March 2013,
their Company proposes to have over 43 branches covering 425+ cities and
catering to over 5000 customers. They expect to achieve turnover of Rs
25000.000 Millions in this financial year. This growth in revenue coupled with
a sound credit policy, a scalable ERP enabled business architecture will
provide a healthy increase in the Net PAT.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31909MH1988PLC046237 |
|
Name of the
company |
SAVEX COMPUTERS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
124-B, Maker Chambers III, Nariman Point, Mumbai - 400021, Email: savex@vsnl.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others [Stock and other Current Assets] |
|
Particular of
charge holder |
ICICI Bank Limited, ICICI Centre, 163, H.T. Parekh Marg, Backbay,
Reclamation, Chruchgate, Mumbai – 400021, Maharashtra, India Email: dhiren.panchal@icicibank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation. |
|
Date of
instrument Creating the charge |
18.09.2012 |
|
Amount secured by
the charge |
250.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed with
the bank from time to time. Terms of Repayment As agreed with
the bank from time to time. Margin As agreed with
the bank from time to time. Extent and Operation of the charge The Bank is
having first pari passu charge on present and future stocks, book debts,
receivable and other current assets. |
|
Short particulars
of the property charged |
Charge on present
and future stocks (raw materials, stock in process), semi finished and
finished goods. Including Book
Debts and Current Assets. |
CONTINGENT
LIABILITIES IN RESPECT OF FOLLOWING:
i. Counter
guarantee given to bankers for guarantee given to Sales Tax and other
Government Authorities Rupees 1.505 Millions
ii. Guarantee
given by the bank against performances, in favour of suppliers of the Company
Rupees 218.671 Millions. It includes one standby LC issued in US Dollar
amounting to USD 2,50,000.00.
iii. Outstanding
amount of contract remaining unexecuted on account of Capital Commitment Rupees
NIL.
v. The custom
department has raised a demand of Rs.1.598 Millions due to short duty paid on imports.
The demand is disputed by the company before West Regional Bench of Custom,
Excise and Service Tax Appellate Tribunal (CESTAT) and the same is pending for
disposal. No provision is made in the books of accounts. In other cases with
similar facts the Appellate authority has given decision in favour of the
assessee.
vi. The Company
has disputed liability for the demand raised during assessment by various
assessing authorities under Sales Tax/VAT Act which are not acknowledged and
disputed with the higher authorities. Total amount involved Rs.1.956 Millions.
The Company feels that there is strong case in favour of the Company hence the
liability is not provided.
FIXED ASSETS:
v
Gala at Vasai and Andheri
v
Improvement of Leased Property
v
Computers and Software
v
Electronic Equipment
v
Furniture and Fixture
v
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 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 exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.