MIRA INFORM REPORT
|
Report Date : |
05.09.2013 |
IDENTIFICATION
DETAILS
|
Name : |
COMPUAGE INFOCOM
LIMITED |
|
|
|
|
Registered Office : |
601, D-Wing, Lotus
Corporate Park, Ram Mandir Lane, Near Jai Coach Western Express Highway, Goregaon
(East), Mumbai – 400063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
27.07.1999 |
|
|
|
|
Com. Reg. No.: |
11-135914 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 66.550
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
L99999MH1999PLC135914 |
|
|
|
|
Legal Form : |
A Public Limited
Liability company. The company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Subject is engaged
in trading in Computer parts and peripherals and Telecom Products. The
company also provides products support services for Information Technology
products. |
|
|
|
|
No. of Employees : |
800
(Approximately) |
RATING &
COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED
CREDIT LINE |
|
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
Maximum Credit
Limit : |
USD 2400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a moderate track record. The profit margin appears
to be low. The external borrowing seems to be increasing over years. However, trade
relations are reported to be fair. Business is active. Payments are reported
to be slow but correct. The company can be
considered for business dealings 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.
ECGC Country
Risk 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 |
D |
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’ list as of 31-03-2012.
INFORMATION
PARTED BY
|
Name : |
Mr. Prabhat |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-67114444 |
|
Date : |
05.09.2013 |
LOCATIONS
|
Registered
Office : |
601, D-Wing, Lotus
Corporate Park, Ram Mandir Lane, Near Jai Coach Western Express Highway,
Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-67114444 /
23842200 |
|
Fax No.: |
91-22-67114445 /
23842210 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices
: |
Located at: ·
Ahmedabad ·
Agra ·
Aurangabad ·
Amritsar ·
Bangalore ·
Baroda ·
Bhubneshwar ·
Bhopal ·
Chandigarh ·
Chennai ·
Coimbtore ·
Cochin ·
Calicut ·
Dehradun ·
Delhi ·
Ghaziabad ·
Goa ·
Guwahati ·
Guragaon ·
Gorakhpur ·
Hyderabad ·
Hubli ·
Haldwani ·
Indore ·
Jaipur ·
Jammu ·
Jabalpur ·
Jodhpur ·
Kolkatta ·
Kottayam ·
Karnal ·
Lucknow ·
Ludhiana ·
Mumbai ·
Mangalore ·
Madurai ·
Nagpur ·
Nasik ·
Parwanoo ·
Patna ·
Pondicherry ·
Pune ·
Raipur ·
Rajkot ·
Ranchi ·
Siliguri ·
Surat ·
Trivendrum ·
Vizag ·
Vijayawada ·
Varansi |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Atul H. Mehta |
|
Designation : |
Chairman Cum
Managing Director |
|
Qualification : |
MBA – U.S.A |
|
Date of
Appointment : |
08.09.2011 |
|
|
|
|
Name : |
Mr. Bhavesh H. Mehta |
|
Designation : |
Whole Time Director
|
|
Qualification : |
M.Com |
|
Date of
Appointment : |
18.10.2011 |
|
|
|
|
Name : |
Mr. G.S. Ganesh |
|
Designation : |
Independent
Director |
|
Qualification : |
Chartered
Accountant |
|
Date of
Appointment : |
18.10.2000 |
|
|
|
|
Name : |
Mr. Vijay Agarwal |
|
Designation : |
Independent
Director |
|
|
|
|
Name : |
Ms. Preeti Trivedi |
|
Designation : |
Independent Director |
KEY
EXECUTIVES
|
Name : |
Ms. Shilpa Singh |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Prabhat |
|
Designation : |
Accounts Manager |
MAJOR
SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category
of Shareholder |
No.
of Shares |
%
of No. of Shares |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4513953 |
67.83 |
|
|
4513953 |
67.83 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
4513953 |
67.83 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
40 |
0.00 |
|
|
40 |
0.00 |
|
|
|
|
|
|
476875 |
7.17 |
|
|
|
|
|
|
465332 |
6.99 |
|
|
386330 |
5.81 |
|
|
812470 |
12.21 |
|
|
23089 |
0.35 |
|
|
54725 |
0.82 |
|
|
5217 |
0.08 |
|
|
723122 |
10.87 |
|
|
6160 |
0.09 |
|
|
157 |
0.00 |
|
|
2141007 |
32.17 |
|
Total Public
shareholding (B) |
2141047 |
32.17 |
|
Total (A)+(B) |
6655000 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
6655000 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 Million BUSINESS
DETAILS
|
Line of
Business : |
Subject is engaged
in trading in Computer parts and peripherals and Telecom Products. The
company also provides products support services for Information Technology
products. |
||||
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|
||||
|
Products : |
|
||||
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|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cash, Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cash, Credit |
GENERAL
INFORMATION
|
Customers : |
Wholesalers and
End Users |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of
Employees : |
800
(Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Bombay
Mercantile Co-operative Bank Limited ·
HDFC
Bank Limited ·
Indian
Overseas Bank ·
Standard
Chartered Bank ·
ICICI
Bank Limited ·
Indian
Bank ·
Kotak
Mahindra Bank ·
Central
Bank of India ·
ING
Vysya Bank |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.V. Dalal and Co Chartered
Accountant |
|
|
|
|
Related Parties
: |
·
Trillizo
Holdings Limited ·
Greenvision
Technologies Private Limited ·
Compuage
Infocom (S) PTE. Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19254000 |
Equity Shares |
Rs.10/- each |
Rs. 192.540
Millions |
|
4665600 |
Preference Shares |
Rs.0.10/- each |
Rs. 0.467 Million |
|
3369344 |
Preference Shares |
Rs.10/- each |
Rs. 33.693
Millions |
|
|
TOTAL |
|
Rs. 226.700 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6655000 |
Equity Shares |
Rs.10/- each |
Rs. 66.550 Millions |
|
|
|
|
|
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
66.550 |
66.550 |
51.800 |
|
(b) Reserves & Surplus |
536.287 |
462.586 |
240.550 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
30.150 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
602.837 |
529.136 |
322.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
97.341 |
120.630 |
84.027 |
|
(b) Deferred tax liabilities (Net) |
19.738 |
11.659 |
9.271 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
117.079 |
132.289 |
93.298 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2067.003 |
1892.123 |
1220.393 |
|
(b) Trade payables |
1740.573 |
1521.324 |
1674.728 |
|
(c) Other current
liabilities |
283.407 |
304.487 |
164.850 |
|
(d) Short-term provisions |
7.735 |
7.760 |
12.081 |
|
Total Current Liabilities (4) |
4098.718 |
3725.694 |
3072.052 |
|
|
|
|
|
|
TOTAL |
4818.634 |
4387.119 |
3487.850 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
402.689 |
175.097 |
73.802 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.828 |
21.688 |
16.092 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.521 |
3.646 |
5.651 |
|
(e) Other Non-current assets |
2.698 |
7.391 |
134.179 |
|
Total Non-Current Assets |
412.736 |
207.822 |
229.724 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
2.632 |
0.000 |
|
(b) Inventories |
1899.643 |
1979.474 |
1415.914 |
|
(c) Trade receivables |
1808.266 |
1518.906 |
1332.637 |
|
(d) Cash and cash
equivalents |
382.485 |
319.428 |
149.008 |
|
(e) Short-term loans and
advances |
307.342 |
351.635 |
343.145 |
|
(f) Other current assets |
8.162 |
7.222 |
17.422 |
|
Total Current Assets |
4405.898 |
4179.297 |
3258.126 |
|
|
|
|
|
|
TOTAL |
4818.634 |
4387.119 |
3487.850 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18964.182 |
15444.405 |
13146.814 |
|
|
|
Other Income |
86.323 |
66.858 |
62.582 |
|
|
|
TOTAL
(A) |
19050.505 |
15511.263 |
13209.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchased of
Stock-in-Trade |
17968.198 |
15171.961 |
12917.165 |
|
|
|
Employee benefit
Expenses |
224.519 |
198.008 |
170.919 |
|
|
|
Other Expenses |
363.579 |
346.578 |
252.465 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and Stock-in-trade |
79.831 |
(563.560) |
(382.429) |
|
|
|
TOTAL
(B) |
18636.127 |
15152.987 |
12958.120 |
|
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
414.378 |
358.276 |
251.276 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
265.169 |
189.567 |
110.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION
AND AMORTISATION (C-D) (E) |
149.209 |
168.709 |
140.958 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
27.694 |
16.744 |
11.769 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX (E-F) (G) |
121.515 |
151.965 |
129.189 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.079 |
49.888 |
42.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX (G-H) (I) |
81.436 |
102.077 |
86.727 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
303.935 |
217.378 |
142.732 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
6.655 |
0.000 |
|
|
|
TAX ON Interim Dividend |
0.000 |
1.105 |
0.000 |
|
|
|
Proposed Dividend |
6.655 |
6.655 |
10.360 |
|
|
|
Tax on Proposed Dividend |
1.080 |
1.105 |
1.721 |
|
|
BALANCE CARRIED TO THE B/S |
377.636 |
303.935 |
217.378 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
|
|
Mercantile Trade |
689.120 |
0.000 |
7.752 |
|
|
TOTAL EARNINGS |
689.120 |
0.000 |
7.752 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
3535.300 |
3124.410 |
5063.785 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
12.24 |
15.34 |
16.74 |
|
Expected Sales
(2013-2014) : Rs. 22500.000 Millions
The above
information has been parted by Mr. Prabhat.
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
|
|
1st Quarter |
|
Net Sales |
5729.600 |
|
Total Expenditure |
5673.700 |
|
PBIDT (Excl OI) |
55.800 |
|
Other Income |
27.700 |
|
Operating Profit |
83.500 |
|
Interest |
43.400 |
|
Exceptional Items |
0.000 |
|
PBDT |
40.100 |
|
Depreciation |
7.500 |
|
Profit Before Tax |
32.600 |
|
Tax |
11.100 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
21.500 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
21.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
0.43
|
0.66 |
0.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.64
|
0.98 |
0.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.53
|
3.48 |
3.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.29 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.59
|
3.80 |
4.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.12 |
1.06 |
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 |
No |
|
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 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loan |
Rs. In Millions 31.03.2013 |
Rs. In Millions 31.03.2012 |
|
Short Term
Borrowings |
|
|
|
Loans and Advances
From Related Parties Repayable on Demand |
128.250 |
46.550 |
|
Loans and Advances
From Others Repayable on Demand |
651.790 |
506.730 |
|
|
|
|
|
TOTAL |
780.040 |
553.280 |
VIEW INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge
Creation /Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN |
|
1 |
10430735 |
10/06/2013 |
100,000,000.00 |
Standard Chartered Bank |
NARAIN MANZIL, 23, BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA |
B76964972 |
|
2 |
10430736 |
10/06/2013 |
100,000,000.00 |
Standard Chartered Bank |
NARAIN MANZIL, 23, BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA |
B76965185 |
|
3 |
10312213 |
07/10/2011 |
90,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA
|
B23270333 |
|
4 |
10232188 |
20/07/2010 |
50,000,000.00 |
3i INFOTECH TRUSTEESHIP SERVICES LIMITED |
6TH FLOOR, ACKRUTI CENTRE POINT, MIDC CENTRAL ROAD, NEXT TO MAROL
TELEPHONE EXCHANGE, ANDHERI (E), |
A90411760 |
|
5 |
10224191 |
31/05/2010 |
250,000,000.00 |
ING VYSYA BANK LIMITED |
PATEL CHAMBERS GROUND FLOOR SANDHURST BRIDGE, OPERA HOUSE, MUMBAI,
MAHARASHTRA - 400007, INDIA |
A87268652 |
|
6 |
10177197 |
11/09/2009 |
50,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
6TH FLOOR, AKRUTI CENTRE POINT, MIDC CENTRAL ROAD, MUMBAI,
MAHARASHTRA - 400093, INDIA |
A69773562 |
|
7 |
10178271 |
12/07/2012 * |
1,250,000,000.00 |
CENTRAL BANK OF INDIA |
CORPROATE FINANCE BRANCH, 1ST FLOOR, M.M.O.BUILDIN |
B58931049 |
|
8 |
10115639 |
11/07/2008 |
26,000,000.00 |
BOMBAY MERCANTILE CO-OPERATIVE BANK LIMITED |
78 , MOHAMEDALI ROAD, MUMBAI, MAHARASHTRA - 400003, INDIA |
A42950568 |
|
9 |
10114605 |
10/07/2008 |
200,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, T |
A42226068 |
|
10 |
10087621 |
30/01/2008 |
40,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI
RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A32097990 |
|
11 |
10075837 |
19/07/2013 * |
52,000,000.00 |
BOMBAY MERCANTILE CO-OPERATIVE BANK LIMITED |
78 MOHAMEDALI ROAD, MUMBAI, MAHARASHTRA - 400003, INDIA |
B81948762 |
|
12 |
10063166 |
10/05/2013 * |
450,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B76622307 |
|
13 |
10059396 |
28/09/2011 * |
1,547,600,000.00 |
INDIAN BANK |
PRABHADEVI BRANCH, NO. 1, SANE GURUJI PREMISES, 3 |
B21818927 |
|
14 |
10040982 |
11/06/2007 * |
60,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA
|
A16406563 |
|
15 |
10156080 |
15/12/2006 |
60,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA
|
A44576023 |
|
16 |
10010071 |
28/07/2010 * |
200,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A90668955 |
|
17 |
80005379 |
04/01/2013 * |
120,000,000.00 |
INDIAN OVERSEAS BANK |
OPERA HOUSE BRANCH, 393, NAAZ CINEMA COMPOUND, DR. BHADKAMKAR MARG,
MUMBAI, MAHARASHTRA - 400004, IN |
B67052092 |
|
18 |
80035199 |
22/09/2012 * |
430,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI,
MAHARASHTRA - 400013, INDIA |
B59499624 |
|
* DATE OF CHARGE
MODIFICATION |
||||||
CORPORATE INFORMATION
Subject is a public Limited company domiciled
in India and incorporated under the provisions of the Companies Act,1956. It's
shares are listed on the Bombay Stock Exchange and Madras Stock Exchange
Limited.
The company is engaged in trading in Computer
parts and peripherals and Telecom Products. The company also provides products
support services for Information Technology products.
BUSINESS
PERFORMANCE
The year gone by has been a mixed bag. The
Company's registered revenue of Rs. 19050.505 Millions as against Rs. 15511.263
Millions in the previous year, registering a growth of 22.82%. The Company's
consolidated revenue has grown to Rs. 19614.012 Millions as against Rs.
15977.589 Millions in the previous year, registering a growth of 22.76%.
While the revenue has grown, Profit after Tax
has gone down. The Net Profit after Tax stood at Rs. 81.436 Millions as against
Rs. 102.077 Millions in the previous year. The Consolidated Profit after Tax
stood at Rs. 81.896 Millions as against Rs. 102.840 Millions in the previous
year.
FUTURE OUTLOOK
The Future outlook of the company is very
promising. The Company operates in high growth rate IT industry. With IT
penetration still below double digit, shall continue to grow, offering immense
opportunities to Compuage. Further, with Compuage's entry into the telecom
products distribution, it will give further boost to the company. With smart
phones expected to have rapid growth over the next 5 years, Compuage is well positioned
to benefit from the same. With growth in revenue, it will optimize its
utilisation of its infrastructure and resources, thereby growing the company's
profitability as well.
SUBSIDIARY
COMPANY
1. COMPUAGE
INFOCOM (S) PTE. LIMITED
During the year Company continued to hold
it's holding in Compuage Infocom (S) Pte. Limited a wholly owned subsidiary of
the company which was formed to expand the company's business operation in
SAARC Countries
The Company has been granted exemption by the
Ministry of Corporate Affairs from attaching to its Balance sheet, the
Individual Annual Reports of its subsidiary Companies vide its General Circular
No: 2/2011 and General Circular No: 3/2011 dated Feb 8, 2011 and Feb 21, 2011
respectively. As per the terms of the Circular, a statement containing the
brief financial details of the Companies Subsidiaries for the year ended March
31, 2013 is included in the Annual Report. The annual accounts of these
subsidiaries and the related detailed information will be made available to any
member of the Company/ its subsidiaries seeking such information at any point
of time and are also available for inspection by any member of the Company/its
subsidiaries at the registered office of the Company. The annual accounts of
the said subsidiaries will also be available for inspection, as above, at the
Registered Offices of the respective subsidiary Companies.
MANAGEMENT'S
DISCUSSION AND ANALYSIS
OVERVIEW
FORWARD-LOOKING
STATEMENTS
This report contains forward-looking statements,
which may be identified by their use of words like 'plans', 'expects', 'will',
'anticipates', 'believes', 'intends', 'projects', 'estimates' or other words of
similar meaning. All statements that address expectations or projections about
the future, including but not limited to statements about the Company's
strategy for growth, product development, market position, expenditures, and
financial results, are
forward-looking statements, based on certain
assumptions and expectations of future events. The Company cannot guarantee
that these assumptions and expectations are accurate or will be realized. The
Company's actual results, performance or achievements could thus differ
materially from those projected in any such forward-looking statements. The
Company assumes no responsibility to publicly amend, modify or revise any
forward looking statements, on the basis of any subsequent developments,
information or events.
ECONOMIC OVERVIEW
Economic activity in India continued to
moderate during fiscal 2013. Global economic conditions also remained weak with
slowdown in growth in developed and emerging economies. India's gross domestic
product (GDP) grew by 5.0% during the first nine months of fiscal 2013 compared
to a growth of 6.6% in the corresponding period of fiscal 2012. The services
sector grew by 6.7% during the first nine months of fiscal 2013 compared to
8.5% during the first nine months of fiscal 2012. The industrial sector grew by
3.2% and agriculture sector by 4.0% during the first nine months of fiscal 2013
compared to a growth of 4.0% and 4.3% respectively in the corresponding period
of fiscal 2012. Average inflation for fiscal 2013 was 7.3% compared to 8.9% in
fiscal 2012.
According to CRISIL, India's economic growth
is expected to accelerate to 6.7 percent in 2013-14 from the projected rate of
5.5 percent in the current financial year on a revival in consumption. A
pick-up in agriculture, predicated on a normal monsoon, lower interest rates
and higher government spending will support private consumption demand. India's
GDP growth in 2013-14 will be supported by the revival of the private sector
consumption growth aided by higher growth in agriculture, high government
spending and lower interest rates. Core inflation is expected to come down to 7
percent in the financial year beginning April 1, 2013, as against the projected
inflation of 7.7 percent in 2012-13. Increased welfare expenditure by the
government, lower interest rates, moderation in inflation, and high farm
incomes (assuming a normal monsoon) will boost household spending and, thereby,
benefit sectors such as consumer durables, hotels and restaurants and financial
services. Further, Improved external demand, as a result of marginal recovery
of global growth, could raise India's exports, especially in the IT and
IT-enabled services sector. They, therefore, expect the services sector to
remain healthy at 8 percent in the next fiscal.
INDUSTRY OUTLOOK
The IT distribution industry in India has
evolved rapidly over the past decade. It has undergone major transformation
during this period with regard to the number of Products, Distributors,
Resellers, Channel Partners and Vendor Expectations. The IT distribution
industry is witnessing growth propelled by investment in the IT and ITES sector,
growing need for automation and information technology across all industries,
increase in communication and computing infrastructure spending and increased
internet usage in India. Strong economic growth, rapid advancement in
technology infrastructure, increasingly competitive Indian organizations, and
enhanced government focus are key drivers for increased technology adoption in
India.
IT distributors play the important role of
providing supply chain services that facilitate the movement of technological
products, solutions and after sales services from the vendors of the product to
the end users of these products. These products include Personal Computers,
Notebooks, Servers, Printers, and Personal Computer Components, Networking
Products, Software Products, their licenses, Storage Products, Power Solutions
or Mobile Devices. These solutions are based on integration of multiple
products / technologies from multiple manufacturers and includes services in
the form of installation / configuration or customization to cater to the
varying needs of the customers. The after sales services comprise of
installation, warranty support, post warranty support, maintenance contract,
and reverse logistics activities etc.
The Indian IT and ITES industry has continued
to perform its role as the most consistent growth driver for the economy.
Service, software exports and BPO remain the mainstay of the sector. Over the
last five years, the IT and ITES industry has grown at a remarkable pace. The
growth of all the IT-ITeS firms including mid-sized firms would depend on the
global economic scenario and IT spending in the major markets of North America
and Europe in 2013. As per the government in the National Policy on Information
Technology (NPIT) 2012 envisages increasing IT industry revenues, through
exports as well as the domestic market, from $100 billion to $300 billion by
2020.
FUTURE OUTLOOK
The Future outlook of the company is very
promising. The Company operates in high growth rate IT industry. With IT
penetration still below double digit, shall continue to grow, offering immense
opportunities to Compuage. Further, with Compuage's entry into the telecom
products distribution, it will give further boost to the company. With smart
phones expected to have rapid growth over the next 5 years, Compuage is well
positioned to benefit from the same. With growth in revenue, it will optimize
its utilisation of its infrastructure and resources, thereby growing the
company's profitability as well.
OPERATIONAL
PERFORMANCE
The year gone by has been a mixed bag. The
Company's registered revenue of Rs. 19050.505 Millions as against Rs. 15511.263
Millions in the previous year, registering a growth of 22.82%. The Company's
consolidated revenue has grown to Rs. 19614.012 Millions as against Rs.
15977.589 Millions in the previous year, registering a growth of 22.76%.
While the revenue has grown, Profit after Tax
has gone down. The Net Profit after Tax stood at Rs. 81.436 Millions as against
Rs. 102.077 Millions in the previous year. The Consolidated Profit after Tax
stood at Rs. 81.896 Millions as against Rs. 102.840 Millions in the previous
year.
FIXED ASSETS
·
Office
Premises
·
Information
Technology
·
Equipments
·
Vehicle
·
Office
Equipment
·
Furniture
and Fixture
CMT REPORT (Corruption,
Money Laundering & Terrorism]
The Public Notice
information has been collected from various sources including but not limited
to: The Courts,
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No 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. 67.02 |
|
|
1 |
Rs. 104.31 |
|
Euro |
1 |
Rs. 88.23 |
INFORMATION
DETAILS
|
Information Gathered by : |
PLV |
|
|
|
|
Report Prepared by : |
DPT |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE
INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT
FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
36 |
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.