MIRA INFORM REPORT
|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHARP BUSINESS SYSTEMS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
214-221, Ansal Tower, 38 Nehru Place, New Delhi-110019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.02.2000 |
|
|
|
|
Com. Reg. No.: |
55-104046 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 90.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PLC104046 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS14055G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of office automation products, consumer electronics, home
appliances and solar panels. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. It has incurred huge loss from its operations during 2012. However, trade relations are reported as fair. Business is active.
Payment terms are 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 DECLINED BY
|
Name : |
Mr. Arvind Bhardawaj |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-46665555 |
|
Date : |
14.09.2013 |
LOCATIONS
|
Registered
Office / Head Office : |
214-221, |
|
Tel. No.: |
91-11-26431313 / 26438866 / 0585/ 46665555/46665424 |
|
Fax No.: |
91-11-26438747 / 26482122 / 46665478 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Zonal Offices : |
Bangalore Al Noor,
Ground floor, 17 Palace Road, 36 High Grounds, Bangalore, India Tel. No. :
91-80-22353535-38 Fax :
91-80-22353535 Email : sathyan@blr.sharp-oa.com Kolkata 503A,
Jasmine Tower, 31 Shakespeare Sarani, Kolkata, West Bengal, India Tel. No. :
91-33-40084907/40084905 Fax :
91-33-40084906 Email : ssaha@kol.sharp-oa.com New
Delhi 222-223,
Ansal Tower, 38 Nehru Place, New Delhi, Delhi, India Tel. No. :
91- 11-46665555 /46665462 Fax :
91-11-26438748 Email : abiswas@sharp-oa.com Chennai Old No.
29, New No. 2, Lady Madhavan Street, Mahalingapuram, Chennai, Tamil Nadu,
India Tel. No. :
91- 44-28171562/ 28172538 / 28174631 Fax :
91-44-28171562 Email : mrnagarajan@che.sharp-oa.com Mumbai 311
Solitaire Park, 167 Guru Hargovindji Marg, Andheri-Ghatkopar Link Road,
Chakala Andheri (E), Mumbai, Maharashtra, India Tel. No. : 91- 22-28321186 /66793931/32 Fax :
91-22-66793930 Email : ssgore@mum.sharp-oa.com |
|
|
|
|
Branches : |
Located at : Ø
Ø
Ø
Ø
Guwahati Ø
Ø
Jaipur Ø
Lucknow Ø
Ludhiana Ø
Patna Ø
Nagpur Ø
Pune Ø
Raipur Ø
Ahmadabad Ø
Bhopal Ø
Kochi Ø
Coimbatore Ø
Gurgaon Ø
Ranchi |
|
|
|
|
|
A-57/4, Ground Floor, Okhla Industrial Area, Phase II, New Delhi,
Delhi, India |
|
Tel. No.: |
91-11-26385670 / 71 |
|
Fax No.: |
91-11-51608714 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Yoshihisa Mizuno |
|||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
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|
Address : |
C-51, Neeti Bagh, New Delhi-110021, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
13.04.1962 |
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Date of Appointment : |
16.02.2006 |
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PAN No.: |
AMUPM8153E |
|||||||||||||||||||||||||||
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DIN No : |
00142036 |
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Other
Directorship:
|
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|||||||||||||||||||||||||||
|
Name : |
Mr. Sunil Kumar Sinha |
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|
Designation : |
Managing Director |
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|
Address : |
A-3, Chirag Enclave, 1st Floor, New Delhi-110048, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1956 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
09.07.2013 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAOPS9077R |
|||||||||||||||||||||||||||
|
DIN No : |
01646828 |
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Other
Directorship:
|
||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Tomio Isogai |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
Intercontinental Eros Hotel, Nehru Place, New Delhi – 110019, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
3.20.1956 |
|||||||||||||||||||||||||||
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Date of Appointment : |
09.12.2012 |
|||||||||||||||||||||||||||
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DIN No : |
03426524 |
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|
Other
Directorship:
|
||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Tadasu Sakamoto |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Kumar Residency Phase-II, Building No.1, Plot No.504, Koregaon Park, Pune-411001,
Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.02.1959 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
14.09.2009 |
|||||||||||||||||||||||||||
|
DIN No : |
02661615 |
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|
Other
Directorship:
|
||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Kenji Ohata |
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|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
3-7-22, Kimigaoka, Hashimoto-Shi, Wakayama Perfecture-6480092, Japan |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.07.1954 |
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Date of Appointment : |
14.09.2009 |
|||||||||||||||||||||||||||
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DIN No : |
02698312 |
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Other
Directorship:
|
||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Name : |
Mr. Takashi Tadashi Mikami |
|||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
5-9-11, Syukugo Utsunomiya Tochigi 3200945, Japan |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
9.08.1955 |
|||||||||||||||||||||||||||
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Date of Appointment : |
30.09.2011 |
|||||||||||||||||||||||||||
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DIN No : |
03506447 |
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Other
Directorship:
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Atul Parkash |
|
Designation : |
Secretary |
|
Address : |
402, H-5, Panchsheel Vihar, Malviya Nagar, New Delhi-110017, India |
|
Date of Birth/Age : |
13.10.1985 |
|
Date of Appointment : |
2.14.2012 |
|
PAN No : |
BVOPP2652K |
|
|
|
|
Name : |
Mr. Arvind Bhardawaj |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sunil Kumar Sinha |
1 |
|
Sharp Corporation, Japan |
6659995 |
|
Sharp Corporation, Japan |
2339999 |
|
Yoshihisa Mizuno |
1 |
|
Kenji Ohata |
1 |
|
Tadasu Sakamoto |
1 |
|
Tomio Isogai |
1 |
|
Takashi Tadashi Mikami |
1 |
|
Total
|
9000000 |
As on 01.02.2013
|
Names of Allottees |
No. of Shares |
|
|
|
|
Sharp Corporation, Japan |
36400000 |
|
|
|
|
Total |
36400000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Trading of office automation products, consumer electronics, home
appliances and solar panels. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
DLF Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase II,
Gurgaon -122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Holding Company and the ultimate holding Company: |
Sharp Corporation, Japan |
|
|
|
|
Fellow subsidiaries: |
|
CAPITAL STRUCTURE
AFTER 29.29.2012
Authorised Capital : Rs. 830.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 770.000
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000
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 |
|
90.000 |
90.000 |
|
(b) Reserves & Surplus |
|
(87.080 |
213.430 |
|
(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) |
|
2.920 |
303.430 |
|
|
|
|
|
|
(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 |
|
12.250 |
10.180 |
|
(d) long-term
provisions |
|
26.190 |
18.320 |
|
Total Non-current
Liabilities (3) |
|
38.440 |
28.500 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1350.800 |
0.000 |
|
(b) Trade
payables |
|
1069.390 |
917.470 |
|
(c) Other
current liabilities |
|
178.420 |
104.640 |
|
(d) Short-term
provisions |
|
50.360 |
19.210 |
|
Total Current
Liabilities (4) |
|
2648.970 |
1041.320 |
|
|
|
|
|
|
TOTAL |
|
2690.330 |
1373.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
29.710 |
16.190 |
|
(ii)
Intangible Assets |
|
1.630 |
1.580 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
34.570 |
|
(d) Long-term Loan and Advances |
|
137.900 |
65.650 |
|
(e) Other
Non-current assets |
|
4.850 |
4.490 |
|
Total Non-Current
Assets |
|
174.090 |
122.480 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1007.300 |
393.260 |
|
(c) Trade
receivables |
|
1348.090 |
749.570 |
|
(d) Cash
and cash equivalents |
|
12.860 |
76.340 |
|
(e)
Short-term loans and advances |
|
57.720 |
19.690 |
|
(f) Other
current assets |
|
90.270 |
11.910 |
|
Total
Current Assets |
|
2516.240 |
1250.770 |
|
|
|
|
|
|
TOTAL |
|
2690.330 |
1373.250 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
90.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
166.647 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
256.647 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
256.647 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8.935 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
40.350 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
172.601
|
|
|
Sundry Debtors |
|
|
268.724
|
|
|
Cash & Bank Balances |
|
|
96.766
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
93.276
|
|
Total
Current Assets |
|
|
631.367
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
338.331
|
|
|
Other Current Liabilities |
|
|
50.788
|
|
|
Provisions |
|
|
34.886
|
|
Total
Current Liabilities |
|
|
424.005
|
|
|
Net Current Assets |
|
|
207.3662
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
256.647 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5288.040 |
2303.290 |
1559.228 |
|
|
|
Other Income |
3.350 |
8.430 |
32.969 |
|
|
|
TOTAL (A) |
5291.390 |
2311.720 |
1592.197 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
4684.220 |
1864.040 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(596.420) |
(217.980) |
|
|
|
|
Employee benefit expense |
331.240 |
174.850 |
|
|
|
|
Other expenses |
1058.210 |
405.620 |
|
|
|
|
TOTAL (B) |
5477.250 |
2226.530 |
1490.494 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(185.860) |
85.190 |
101.703 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.140 |
0.520 |
2.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(255.000) |
84.670 |
99.651 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.950 |
6.880 |
7.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(265.950) |
77.790 |
92.639 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.200 |
27.330 |
31.533 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(300.510) |
50.460 |
61.106 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
213.434 |
166.647 |
NA |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
NA |
3.673 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
213.434 |
166.647 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
1.105 |
0.000 |
NA |
|
|
|
Global network revenue |
0.646 |
0.646 |
NA |
|
|
TOTAL EARNINGS |
1.751 |
0.646 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stock-in-trade |
3709.951 |
1709.964 |
-- |
|
|
|
Finished Goods |
-- |
-- |
996.485 |
|
|
|
Spares |
44.586 |
24.011 |
16.961 |
|
|
TOTAL IMPORTS |
3754.537 |
1733.975 |
1013.446 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(33.39) |
5.61 |
6.79 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(5.68)
|
3.37 |
3.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.03)
|
3.38 |
5.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.89)
|
5.66 |
14.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(91.08)
|
0.26 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
462.60
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
1.20 |
1.49 |
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 |
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 |
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: No Charges
Exist for Company
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
510.000 |
0.000 |
|
Other loans and advances |
392.800 |
0.000 |
|
Total |
902.800 |
0.000 |
COMPANY OVERVIEW
the Company is a public company domiciled and headquartered in India. It
is incorporated under the Companies Act, 1956. The Company is a primarily
engaged in trading of office automation products, consumer electronics, home
appliances and solar panels. The Company also provides annual maintenance
services for products sold.
BUSINESS SEGMENT
The Company is organised into five business segments, namely:
- Documents System Division
(DSD) digital copier/ multifunctional devices, faxes and ECR;
- Audio Visual Systems Division
(ASD) comprising projectors, information display devices and calculator;
- Consumer Electronics and Home
Appliances (CE and HA) comprising television, air conditioner, air purifier,
mobile phone, refrigerator, microwave oven, vacuum cleaner, washing machine
etc;
- Solar Division (SD)
comprising of solar photovoltaic modules, solar street lights etc;
- Spares and Services -
comprising of spares sold and services rendered against maintenance contracts
to customers.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Claims against the Company not acknowledged as debt: |
|
|
|
Sales tax, Service tax and Custom duty
demand against the Company not acknowledged as debt |
75.690 |
7.194 |
|
Income-tax demand |
79.712 |
0.00 |
|
|
|
|
|
Total |
155.402 |
7.194 |
FIXED ASSETS
Tangible assets
- Plant and
equipment
- Factory
equipments
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
- Other
equipments
- Leasehold
improvements
Intangible assets
- Computer
software
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.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.