MIRA INFORM REPORT
|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
NICE COMPUTERS |
|
|
|
|
Registered
Office : |
1st Floor, Pingle Complex, Ghankar Lane, Raviwar Peth, Opposite
Gavkari Press, Nashik-422001, Maharashtra
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Year of
Establishment : |
1998 |
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Capital
Investment / Paid-up Capital : |
Rs.15.942 Millions |
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|
Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Distributor of computer and computer peripherals, they also provide
networking solutions. |
|
|
|
|
No. of Employees
: |
52 (Approximately) (In Office 28 + In Branch 4 + In Logistic and
Dispatch 20) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 64000 |
|
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|
Status : |
Satisfactory |
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established proprietary concern having satisfactory
track record. Trade relations are fair. Business is active. Payment terms reported
to be usually correct. The concern can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like situation
appears to have arisen as inflation jumped to an eight month high of 6.46 % for
the month of September. It is up from 6.10 % in August. Growth continues to be
muted with factory output plunging to 0.6 % in August. Onion prices have
risen nearly 300 % from last September. Vegetables cost nearly 90 % more than
they did last year. Wake up to the economic contribution of slum dwellers. They
contribute more than 7.5 % to the country’s gross domestic product, according
to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of India
has approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
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 PARTED BY
|
Name : |
Mr. Anesh Paul |
|
Designation : |
General Manager |
|
Contact No.: |
91-9890048895 |
|
Date : |
15.11.2013 |
LOCATIONS
|
Registered Office : |
1st Floor, Pingle Complex, Ghankar Lane, Raviwar Peth, Opposite
Gavkari Press, Nashik-422001, Maharashtra, India |
|
Tel. No.: |
91-253-6644555 |
|
Mobile No.: |
91-9890048895 (Mr. Anesh Paul) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
1500 Sq ft |
|
Location : |
Owned |
|
|
|
|
Logistics and Dispatch Department : |
Shop No. 4, 5, Awdhoot Towers, Old Gangapur Naka, Gangapur Road, Nashik-422013,
Maharashtra, India |
|
Tel. No.: |
91-253-6620185 to 190 |
|
E-Mail : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office 1 : |
Shop No. LGF-16, City Centre, Untwadi, CIDCO, Nashik-422002,
Maharashtra, India |
|
Tel. No.: |
91-253-6629315 to 317 |
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E-Mail : |
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Branch Office 2 : |
9-A, Shaivshakti Colony, Opposite St. Francis School. Jaina Road,
Aurangabad – 431001, Maharashtra, India |
|
Tel No.: |
91-240-3240900 |
|
|
|
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Godown: |
C/O Kramtistone Mills at Post Sarole Ne Viholi, Nashik-422103,
Maharashtra, India |
SOLE PROPRIETOR/PARTNERS
|
Name : |
Mr. Nitin R Gite |
|
Designation : |
Proprietor |
|
Address : |
“Prathemesh Bunglow” Plot No. 48, Near Palm Spring Apartment, Behind
Gangapur Road, Police Station, Anandwali, Nashik-422005, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1975 |
|
Qualification : |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Anesh Paul |
|
Designation : |
General Manager |
BUSINESS DETAILS
|
Line of Business : |
Distributor of computer and computer peripherals, they also provide networking
solutions. |
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Agencies Held : |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
52 (Approximately) (In Office 28 + In Branch 4 + In Logistic and
Dispatch 20) |
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Bankers : |
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Facilities : |
Cash Credit = Rs.12.000 Millions (From Shree Samarth Sahakari Bank
Limited)
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Gopal Chandra Mundra Chartered Accountants |
|
Address : |
Ankur Bunglow, Plot No. 49, Palm Spring, Anandwali, Nashik-422005,
Maharashtra, India |
|
Mobile No.: |
91-9822218010 |
|
Fax No.: |
CAPITAL STRUCTURE
As on 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.15.942 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.15.942
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] proprietor Capital |
15.942 |
14.360 |
13.243 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.942 |
14.360 |
13.243 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26.328 |
20.686 |
17.838 |
|
|
2] Unsecured Loans |
9.140 |
10.747 |
7.847 |
|
|
TOTAL BORROWING |
35.468 |
31.433 |
25.685 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
51.410 |
45.793 |
38.928 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
22.210 |
21.568 |
20.010 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.361 |
2.595 |
2.286 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.527
|
21.027 |
17.225 |
|
|
Sundry Debtors |
84.735
|
51.082 |
36.670 |
|
|
Cash & Bank Balances |
1.735
|
0.831 |
0.634 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.714
|
2.740 |
1.336 |
|
Total
Current Assets |
99.711
|
75.680 |
55.865 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
53.008 |
|
|
|
Other Current Liabilities |
|
|
38.007 |
|
|
Provisions |
1.513
|
0.725 |
1.226 |
|
Total
Current Liabilities |
74.872
|
54.050 |
39.233 |
|
|
Net Current Assets |
24.839
|
21.630 |
16.632 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
51.410 |
45.793 |
38.928 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
568.831 |
417.147 |
332.898 |
|
|
|
Other Income |
28.146 |
10.169 |
3.812 |
|
|
|
TOTAL (A) |
596.977 |
427.316 |
336.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods |
576.364 |
410.805 |
322.235 |
|
|
|
Administrative Expenses |
9.500 |
7.483 |
7.160 |
|
|
|
Manufacturing Expenses |
0.546 |
0.735 |
1.350 |
|
|
|
TOTAL (B) |
586.410 |
419.023 |
330.745 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.567 |
8.293 |
5.965 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.959 |
3.837 |
2.343 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.608 |
4.456 |
3.622 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.065 |
0.813 |
0.783 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
4.543 |
3.643 |
2.839 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.180 |
0.914 |
0.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3.363 |
2.729 |
2.139 |
|
Expected Turnover (2013-2014): Rs.750.000 Millions
The above information has been parted by Mr. Anesh Paul (General
Manager)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.56
|
0.64 |
0.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.80
|
0.87 |
0.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.73
|
3.75 |
3.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.25 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.22
|
2.19 |
1.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.40 |
1.42 |
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 |
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Bajaj Finance
Limited (Rs.0.300 Millions) |
0.188 |
0.000 |
|
Mr. Anesh Paul N |
0.000 |
0.142 |
|
Mr. Anil Shadu
Markute |
0.250 |
0.250 |
|
Mr. Bajirao
Sahadu Markute |
0.250 |
0.250 |
|
Mr. Sahebrao
Sahadu Markute |
0.250 |
0.250 |
|
Mr. Sahadu
Dhondiba Markute |
0.250 |
0.250 |
|
Mr. Jaganath
Pawat |
0.200 |
0.200 |
|
Mr/ Vishwanath
Pawar |
0.150 |
0.150 |
|
Religare Finvest
Limited |
0.855 |
2.753 |
|
Mr. Ramachandra
Gite |
2.879 |
2.569 |
|
Mr.
PrasadKulkarni |
0.000 |
0.844 |
|
ICICI Bank C/A.
002705004930 |
0.000 |
0.616 |
|
HDFC Credit Card |
0.002 |
0.011 |
|
HDFC Bank
Business Loan |
1.086 |
0.000 |
|
ICICI Credit Card |
0.022 |
0.015 |
|
Mrs. Kalavati R.
Gite |
1.031 |
0.984 |
|
Mrs. Trupti N.
Gite |
1.727 |
1.463 |
|
Total |
9.140 |
10.747 |
TRADE REFERENCES:
- HP
- Microsoft
- Acer
- Kaspersky
- Redingote India Limited
- Saver India Limited
FIXED ASSETS:
- Agricultural Land
- Digital Camera
- Furniture
- Gold
- T.V. Sets
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
46 |
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.