1. Summary Information
|
Country |
India |
||
|
Company Name |
INGRAM MICRO INDIA LIMITED |
Principal Name 1 |
Mr. Jaishankar Vaidyanathan Krishnan |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Shailendra Narendra Gupta |
|
Registration # |
11-136340 |
||
|
Street Address |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business
District, Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra |
||
|
Established Date |
05.03.1996 |
SIC Code |
-- |
|
Telephone# |
91-22-67960101 / 67960149 / 39894645 / 67960247 |
Business Style 1 |
Distributor |
|
Fax # |
91-22-67960102 / 67960103 / 39891000 / 30561100 / 39894645 |
Business Style 2 |
-- |
|
Homepage |
www.imonline.co.in |
Product Name 1 |
Computers |
|
# of employees |
Not Available |
Product Name 2 |
Peripherals |
|
Paid up capital |
Rs.184,928,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
Central Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
17 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(53) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
USA |
Ingram Micro Inc. |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
14,640,018,000 |
Current Liabilities |
13,095,388,000 |
|
Inventories |
8,339,576,000 |
Long-term Liabilities |
2,425,296,000 |
|
Fixed Assets |
84,367,000 |
Other Liabilities |
96,574,000 |
|
Deferred Assets |
187,384,000 |
Total Liabilities |
15,617,258,000 |
|
Invest& other Assets |
1,168,000 |
Retained Earnings |
7,450,327,000 |
|
|
|
Net Worth |
7,635,255,000 |
|
Total Assets |
23,252,513,000 |
Total Liab. & Equity |
23,252,513,000 |
|
Total Assets (Previous Year) |
19,538,605,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
95,451,008,000 |
Net Profit |
1034,822,000 |
|
Sales(Previous yr) |
83,846,236,000 |
Net Profit(Prev.yr) |
852,938,000 |
MIRA INFORM REPORT
|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
INGRAM MICRO INDIA LIMITED (w.e.f. 13.05.2009) |
|
|
|
|
Formerly Known
As : |
Tech pacific ( |
|
|
|
|
Registered
Office : |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business District,
Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.03.1996 |
|
|
|
|
Com. Reg. No.: |
11-136340 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.184.928 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u72900mh1996plc136340 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
mumt06887G |
|
|
|
|
PAN No.: [Permanent Account No.] |
aabct1296R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Distributor of Products like Computers, Peripherals, Supplies,
Softwares etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Ingram Micro Inc., USA”. It is a well
established company having satisfactory track record. The company has seen a better growth in its operations and
profitability during 2012. Financial position appears to be good. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered good 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.
ECGC Country isk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
|
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ ist as of
31-03-2012.
LOCATIONS
|
Registered Office : |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business District,
Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-67960101 / 67960149 / 39894645 / 67960247 |
|
Fax No.: |
91-22-67960102 / 67960103 / 39891000 / 30561100 / 39894645 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Southern
Branches : |
Located at: ·
Bangalore ·
Chennai ·
Cochin ·
Coimbatore ·
Hubli ·
Hyderabad ·
Madurai ·
Pudhucherry ·
Trivandrum · Vizag |
|
|
|
|
estern
Branches : |
Located at: · Ahmedabad · Baroda · Bhopal · Indore · Surat · Mumbai · Nagpur · Pune · Raipur · Goa |
|
|
|
|
Northern
Branches : |
Located at: ·
Chandigarh ·
Dehradun ·
Delhi ·
Jaipur ·
ammu ·
Lucknow ·
Ludhiana · Parwanoo |
|
|
|
|
Eastern Branches
: |
Located at: ·
Bhubaneshwar ·
Guwahati ·
Kolkata ·
Patna · Ranchi |
DIRECTORS
As on 26.09.2012
|
Name : |
Mr. Jaishankar Vaidyanathan Krishnan |
|
Designation : |
Managing Director |
|
Address : |
Flat No.1201, Somerset Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1957 |
|
Qualification : |
MMM, BE (E and C) |
|
Date of Appointment : |
01.01.2009 |
|
PAN No.: |
AAMPK4962B |
|
DIN No.: |
00101652 |
|
|
|
|
Name : |
Mr. Shailendra Narendra Gupta |
|
Designation : |
Director |
|
Address : |
3, Tanjong Rhu Road, #12 02, The West Side Blocks, Singapore - 436881 |
|
Date of Birth/Age : |
17.09.1962 |
|
Date of Appointment : |
01.0.2001 |
|
DIN No.: |
00966943 |
|
|
|
|
Name : |
Mr. Stephen John Paine |
|
Designation : |
Director |
|
Address : |
Le Grove serviced apartments, M – 206, 32 Orange Grove Road, Singapore – 258354 |
|
Date of Birth/Age : |
17.01.1958 |
|
Date of Appointment : |
05.12.2006 |
|
DIN No.: |
01025188 |
|
|
|
|
Name : |
Mr. Wai Kong NG |
|
Designation : |
Director |
|
Address : |
BLK 4, Jalan Raja, Udang, #21 09, Singapore - 329216 |
|
Date of Birth/Age : |
24.10.1959 |
|
Date of Appointment : |
09.07.2010 |
|
DIN No.: |
03130301 |
|
|
|
|
Name : |
Mr. Prabhakar Venkatakrishnan Iyer |
|
Designation : |
Addtional Director |
|
Address : |
Flat No. 902, Octavius, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1964 |
|
Date of Appointment : |
01.12.2011 |
|
PAN No.: |
AAAPI2265H |
|
DIN No.: |
00116774 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Gajanan Joglekar |
|
Designation : |
Company Secretary |
|
Address : |
F 105, Sumer Castle, LBS Road, Thane (West), Mumbai – 400601,
Maharashtra, India |
|
Date of Birth/Age : |
18.12.1964 |
|
Date of Appointment : |
13.04.2009 |
|
PAN No.: |
ACNPJ2440C |
|
|
|
|
Name : |
Ms. Shraddha |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shailendra Gupta |
|
1 |
|
Jaishankar Krishnan |
|
1 |
|
Sanjay Achawal |
|
1 |
|
Ingram Micro Asia Limited, Singapore |
|
18492710 |
|
Ingram Micro Asia Holdings Inc., US |
|
100 |
|
Prabhakar V. Iyer |
|
1 |
|
Atul Gaur |
|
1 |
|
Blasé Martin D’Souza |
|
1 |
|
Navneet Singh Bindra |
|
1 |
|
Total |
|
18492817 |
As on 26.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
USINESS DETAILS
|
Line of Business : |
Distributor of Products like Computers, Peripherals, Supplies,
Softwares etc. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Central Bank of India, M.G. Road, Fort, Mumbai – 400023, Maharashtra,
India Tel. No.: 91-22-22625932 |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Holding Company : |
· Ingram Micro Inc., USA · Ingram Micro Asia Holdings Inc.,USA · Ingram Micro Asia Limited, Singapore |
|
|
|
|
Subsidiary Company
: |
Ingram Micro (India) Exports Pte. Limited, Singapore |
|
|
|
|
Fellow
Subsidiary company : |
· Ingram Micro Australia Pty Limited · Ingram Micro NZ Limited · Ingram Micro Semiconductor Asia Pte. Limited · Ingram Micro Singapore (South Asia) Pte Limited · Ingram Micro Asia Pacific Pte. Limited · Ingram Micro Malaysia SDN BHD. · Ingram Micro (Thailand) Limited · Ingram Micro Lanka (Private) Limited |
CPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19000000 |
Equity Share |
Rs.10/- each |
Rs.190.000 millions |
|
1300000 |
1% Redeemable Cumulative Convertible
Preferences Shares |
Rs.100/- each |
Rs.130.000 millions |
|
|
Total |
|
Rs.
320.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18492817 |
Equity Share |
Rs.10/- each |
Rs.184.928 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
184.928 |
184.928 |
|
(b) Reserves & Surplus |
|
7450.327 |
6415.505 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
7635.255 |
6600.433 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
75.172 |
69.520 |
|
Total Non-current
Liabilities (3) |
|
75.172 |
69.520 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
2425.296 |
2758.398 |
|
(b) Trade
payables |
|
12355.214 |
9322.969 |
|
(c) Other
current liabilities |
|
740.174 |
772.743 |
|
(d) Short-term
provisions |
|
21.402 |
14.542 |
|
Total Current
Liabilities (4) |
|
15542.086 |
12868.652 |
|
|
|
|
|
|
TOTAL |
|
23252.513 |
19538.605 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
84.367 |
29.970 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.168 |
1.168 |
|
(c) Deferred tax assets (net) |
|
187.384 |
181.348 |
|
(d) Long-term Loan and Advances |
|
241.829 |
153.213 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
514.748 |
365.699 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
8339.576 |
7056.269 |
|
(c) Trade
receivables |
|
10867.600 |
9149.195 |
|
(d) Cash
and cash equivalents |
|
814.673 |
522.522 |
|
(e)
Short-term loans and advances |
|
1610.545 |
1270.187 |
|
(f) Other
current assets |
|
1105.371 |
1174.733 |
|
Total
Current Assets |
|
22737.765 |
19172.906 |
|
|
|
|
|
|
TOTAL |
|
23252.513 |
19538.605 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
184.928 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5562.567 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5747.495 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2850.639 |
|
|
TOTAL BORROWING |
|
|
2850.639 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8598.134 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
37.206 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.168 |
|
|
DEFERREX TAX ASSETS |
|
|
238.449 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5637.486
|
|
|
Sundry Debtors |
|
|
8788.788
|
|
|
Cash & Bank Balances |
|
|
344.187
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
2026.907
|
|
Total
Current Assets |
|
|
16797.368
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
7754.986 |
|
|
Other Current Liabilities |
|
|
602.819
|
|
|
Provisions |
|
|
118.252
|
|
Total
Current Liabilities |
|
|
8476.057
|
|
|
Net Current Assets |
|
|
8321.311
|
|
|
|
|
|
|
|
|
ISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8598.134 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
95451.008 |
83846.236 |
66298.263 |
|
|
|
Other Income |
229.818 |
272.270 |
263.724 |
|
|
|
TOTAL (A) |
95680.826 |
84118.506 |
66561.987 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
0.000 |
|
|
|
|
|
Purchases of stock-in-trade |
92793.836 |
82014.695 |
|
|
|
|
Employee benefit expense |
726.921 |
637.829 |
|
|
|
|
Other expenses |
1579.243 |
1241.826 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(1283.307) |
(1418.783) |
|
|
|
|
TOTAL (B) |
93816.693 |
82475.567 |
64663.082 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1864.133 |
1642.939 |
1898.905 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
294.066 |
291.444 |
120.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1570.067 |
1351.495 |
1778.576 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.281 |
18.340 |
20.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1548.786 |
1333.155 |
1757.624 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
513.964 |
480.217 |
604.605 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1034.822 |
852.938 |
1153.019 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6231.664 |
5378.726 |
4225.707 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
7266.486 |
6231.664 |
5378.726 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB – Exports Sales |
21.137 |
24.462 |
45.751 |
|
|
|
Sales Overseas Branch |
5606.681 |
1386.953 |
0.000 |
|
|
|
Rebate (Netted off against cost of sales) |
368.811 |
386.483 |
209.983 |
|
|
|
Service Fees and Expenses charged to Wholly Owned Subsidiary |
0.000 |
44.005 |
41.520 |
|
|
|
Expenses recovered |
75.239 |
24.047 |
56.312 |
|
|
TOTAL EARNINGS |
6071.868 |
1865.95 |
353.566 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
20305.282 |
23200.777 |
18743.146 |
|
|
TOTAL IMPORTS |
20305.282 |
23200.777 |
18743.146 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
55.96 |
46.12 |
62.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.08
|
1.01 |
1.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.62
|
1.59 |
2.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.72
|
6.89 |
10.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.32
|
0.42 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.49 |
1.98 |
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 |
Yes |
|
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 |
No |
NOTE: The registered office
of the company has been shifted from Gate No.1A, Godrej Industries Complex,
Pirojshangar, Eastern Express Highway, Vikhroli (East), Mumbai – 400079,
Maharashtra, India to the present address w.e.f. 01.02.2012
OPERATIONS
During the year, the Company achieved total turnover of Rs. 95680.830 Million, and after providing for depreciation of Rs. 21.280 Million and Finance Cost of Rs. 294.070 Million, the Company earned a profit before tax of Rs. 1548.790 Million. After providing for Income Tax (Current tax of Rs. 520.000 Million and Deferred tax of (Rs. 6.040 Million), the Profit after tax stood at Rs. 1034.820 Million.
During the year, the company grew revenues by close to 14% over prior year. The growth in revenues were predominantly due to growth of the consumer PC and smartphone product categories. Over the past few years, the company has established a diversified portfolio of brands across these product categories and refined its go to market model to become a preferred partner for key vendors and customers, in this segment.
The corporate and Govt. market continues to be subdued due to various economic factors that are adversely impacting the investment climate in this segment and this has had its impact on the companies growth in these segments.
During the year, the PC storage industry was also impacted by the floods in Thailand. This unfortunate event resulted in significant shortage of products for over 6 months which also impacted the growth in the white box PC segment.
During the year the Singapore branch was fully operational. The revenue and expenses of the branch have been included in the financials.
During the year Company opened a Liaison Office in Dhaka, Bangladesh.
FINANCE COST
Increase in working capital and higher interest rates in the market resulted in higher finance cost.
FUTURE OUTLOOK
Given the political developments in the country, the company expects the demand for IT infrastructure products and solutions to continue to be subdues during fiscal ’12-’13. This is also likely to place significant pressure on the working capital cycles as customers demand more credit and longer payment terms.
However, they expect the consumer product categories to continue to exhibit robust demand. Mobile phone consumers will continue to migrate demand to higher end feature phones and smartphones which will have a positive impact on the company’s performance.
FIXED ASSETS
v Tangible Assets
· Furniture and Fixtures
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
v Intangible Assets
· Goodwill
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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.