. Summary Information
|
Country |
|
||
|
Company Name |
SAVEX COMPUTERS
LIMITED |
Principal Name 1 |
Mr. Anil Ishwarlal Jagasia |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Anuradha Anil Jagasia |
|
Registration # |
11-046237 |
||
|
Street Address |
124-B, Maker Chambers III, Nariman Point, Mumbai-400 021, |
||
|
Established Date |
16.02.1988 |
SIC Code |
-- |
|
Telephone# |
91-22-22881616 |
Business Style 1 |
Distributor |
|
Fax # |
91-22-22041656 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Computers Hardware and Peripherals |
|
|
# of employees |
Not Divulged |
Product Name 2 |
-- |
|
Paid up capital |
Rs.40,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 99.96% |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
No |
Business Period |
26 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
Savex Singapore Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,179,297,000 |
Current Liabilities |
1,651,784,000 |
|
Inventories |
3,929,260,000 |
Long-term Liabilities |
3,318,471,000 |
|
Fixed Assets |
74,251,000 |
Other Liabilities |
163,422,000 |
|
Deferred Assets |
0 |
Total Liabilities |
5,133,677,000 |
|
Invest& other Assets |
167,000 |
Retained Earnings |
2,009,298,000 |
|
|
|
Net Worth |
2,049,298,000 |
|
Total Assets |
7,182,975,000 |
Total Liab. & Equity |
7,182,975,000 |
|
Total Assets (Previous Year) |
4,373,555,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
43,941,575,000 |
Net Profit |
653,045,000 |
|
Sales(Previous yr) |
28,120,619,000 |
Net Profit(Prev.yr) |
497,373,000 |
MIRA INFORM REPORT
|
Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAVEX COMPUTERS LIMITED [w.e.f. 01.07.1994] |
|
|
|
|
Formerly Known
As : |
SAVEX COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
124-B, Maker Chambers III, Nariman Point, Mumbai - 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.02.1988 |
|
|
|
|
Com. Reg. No.: |
11-046237 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 40.000
Millions (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH1988PLC046237 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37240A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS5547H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of Information Technology Products and Mobile Phones. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses a decent financial profile marked by strong
networth and adequate profitability position during 2013. The ratings continue to derive strength from the diversified product
portfolio, distributorship of established brands in computer handware and
mobiles and widespread distribution network. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. The company can be considered for business dealing 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 Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fun Based : (A-) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
January, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Non Fun Based : (A2+) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
January, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-operative
Contact No.: 91-22-22881616
LOCATIONS
|
Registered / Head Office : |
124-B, Maker Chambers III, Nariman Point, Mumbai - 400021, |
|
Tel. No.: |
91-22-22881616 / 1717 / 22799999 |
|
Fax No.: |
91-22-22041656 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located
at: Ø Mumbai Ø Bhiwandi Ø Ahmedabad Ø Ø Ø Kolkata Ø Chennai Ø Ø Ø Ø Ø Ø Noida Ø Jaipur Ø Ø Pune Ø Ø Ø Nashik Ø Ø Ø Ø Vijaywada Ø Dehradun Ø Gurgaon Ø Ø Ø Ø Ø Ø Ø Parwanoo Ø Mangalore Ø Bhubaneshwar Ø Ø Guwahati Ø Ø Ø Ø Ø Ø Ø |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Anil Ishwarlal Jagasia |
|
Designation : |
Managing director |
|
Address : |
16, Soona Mahal, 143, |
|
Date of Birth/Age : |
24.08.1960 |
|
Qualification : |
B.E. Electronics |
|
Experience : |
31 Years |
|
Date of Appointment : |
16.02.1998 |
|
PAN No.: |
ADHPJ5576A |
|
DIN No.: |
00031579 |
|
Name : |
Mrs. Anuradha Anil Jagasia |
|
Designation : |
Whole-time director |
|
Address : |
16, Soona Mahal, 143, |
|
Date of Birth/Age : |
15.06.1962 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
16.02.1998 |
|
PAN No.: |
ACYPJ3749F |
|
DIN No.: |
00031603 |
|
Name : |
Mr. Jayant Harkisandas Goradia |
|
Designation : |
Whole-time director |
|
Address : |
203, Asha Niketan, |
|
Date of Birth/Age : |
04.09.1960 |
|
Qualification : |
B.E. Electronics |
|
Experience : |
31 Years |
|
Date of Appointment : |
23.10.2001 |
|
PAN No.: |
AABPG2007J |
|
DIN No.: |
00031623 |
|
Name : |
Mr. Devang Achyut Pandya |
|
Designation : |
Whole-time director |
|
Address : |
13, Vora Bhuvan, |
|
Date of Birth/Age : |
05.06.1964 |
|
Qualification : |
D.E. Electronics |
|
Experience : |
30 Years |
|
Date of Appointment : |
23.10.2001 |
|
PAN No.: |
AABPP7117J |
|
DIN No.: |
00576033 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anil Ishwarlal Jagasia |
|
199100 |
|
Anil Ishwarlal Jagasia jointly with Anuradha Anil Jagasia |
|
3598200 |
|
Anuradha Anil Jagasia |
|
200 |
|
Anuradha Anil Jagasia jointly with Anil Ishwarlal Jagasia |
|
600 |
|
Deepak L. Dudhane |
|
200 |
|
Deepak L. Dudhane jointly with Sreedhara D. Dudhane |
|
600 |
|
Raunak Anil Jagasia |
|
50000 |
|
Raunak Anil Jagasia jointly with Anuradha Anil Jagasia |
|
150000 |
|
Ravindra L. Dudhane |
|
200 |
|
Ravindra L. Dudhane jointly with Anita R. Dudhane |
|
600 |
|
|
|
100 |
|
Devang Achyut Pandya |
|
100 |
|
Jayant Harkisandas Goradia |
|
100 |
|
Total |
|
4000000 |
AS ON 25.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.96 |
|
Other
top fifty shareholders |
|
0.04 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Information Technology Products and Mobile Phones. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N.K. Kalra and Associates Chartered Accountants |
|
Address : |
Sai Chambers, 1st Floor, Opposite Gulmarg Co-operative Housing Society,
R.C. Marg, Chembur Naka, Mumbai - 400071, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPK9845K |
|
|
|
|
Subsidiaries : |
Savex |
|
|
|
|
Associates : |
v
Clearpoint Electronics Private Limited
[U99999MH1989PTC052939] v
Tech-E v
Savex Corporation |
CAPITAL STRUCTURE
AS ON 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
40.000 |
40.000 |
|
(b) Reserves & Surplus |
|
2,009.298 |
1,356.966 |
|
(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) |
|
2,049.298 |
1,396.966 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
170.748 |
151.100 |
|
(b) Deferred tax liabilities
(Net) |
|
0.231 |
1.080 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
170.979 |
152.180 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3,147.723 |
2,091.518 |
|
(b) Trade payables |
|
1,621.701 |
538.184 |
|
(c) Other current liabilities |
|
163.191 |
182.323 |
|
(d) Short-term provisions |
|
30.083 |
12.384 |
|
Total
Current Liabilities (4) |
|
4,962.698 |
2,824.409 |
|
|
|
|
|
|
TOTAL |
|
7,182.975 |
4,373.555 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
65.181 |
51.597 |
|
(ii) Intangible Assets |
|
9.070 |
7.305 |
|
(iii) Capital work-in-progress |
|
0.000 |
1.208 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.167 |
0.167 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
182.362 |
112.882 |
|
(e) Other Non-current assets |
|
0.010 |
0.010 |
|
Total
Non-Current Assets |
|
256.790 |
173.169 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3,929.260 |
2,017.791 |
|
(c) Trade receivables |
|
2,776.153 |
2,092.929 |
|
(d) Cash and cash equivalents |
|
77.808 |
54.586 |
|
(e) Short-term loans and
advances |
|
128.002 |
12.599 |
|
(f) Other current assets |
|
14.962 |
22.481 |
|
Total
Current Assets |
|
6,926.185 |
4,200.386 |
|
|
|
|
|
|
TOTAL |
|
7,182.975 |
4,373.555 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
40.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
861.905 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
901.905 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1774.591 |
|
|
2] Unsecured Loans |
|
|
140.000 |
|
|
TOTAL BORROWING |
|
|
1914.591 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.158 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2817.654 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
49.583 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.259 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1499.349
|
|
|
Sundry Debtors |
|
|
1656.563
|
|
|
Cash & Bank Balances |
|
|
74.532
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
350.488
|
|
Total
Current Assets |
|
|
3580.932
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
486.165
|
|
|
Other Current Liabilities |
|
|
86.296
|
|
|
Provisions |
|
|
240.799
|
|
Total
Current Liabilities |
|
|
813.260
|
|
|
Net Current Assets |
|
|
2767.672
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.140 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2817.654 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
43941.575 |
28120.619 |
17758.502 |
|
|
|
Other Income |
50.791 |
15.965 |
14.266 |
|
|
|
TOTAL (A) |
43992.366 |
28136.584 |
17772.768 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
43980.318 |
27179.652 |
17335.952 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(1911.469) |
(518.442) |
(454.674) |
|
|
|
Employee benefit expense |
286.824 |
228.018 |
166.372 |
|
|
|
Other expenses |
328.869 |
263.910 |
181.096 |
|
|
|
TOTAL (B) |
42684.542 |
27153.138 |
17228.746 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1307.824 |
983.446 |
544.022 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
316.633 |
227.045 |
140.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
991.191 |
756.401 |
403.267 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.994 |
14.581 |
10.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
972.197 |
741.820 |
392.674 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
319.152 |
244.447 |
132.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
653.045 |
497.373 |
259.955 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1214.862 |
740.278 |
503.122 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.00 |
20.000 |
|
|
|
Dividend |
2.400 |
2.400 |
2.400 |
|
|
|
Tax on Dividend |
0.389 |
0.389 |
0.399 |
|
|
BALANCE CARRIED
TO THE B/S |
1845.117 |
1214.862 |
740.278 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
F O B |
5.063 |
0.000 |
0.000 |
|
|
|
Other Earnings |
4.065 |
22.787 |
4.832 |
|
|
|
|
9.128 |
22.787 |
4.832 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
598.439 |
709.373 |
454.359 |
|
|
TOTAL |
598.439 |
709.373 |
454.359 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
163.26 |
124.34 |
64.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.48
|
1.77
|
1.46
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.2
|
2.64
|
2.21
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.54
|
16.97
|
10.82
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.53
|
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.62
|
1.61
|
3.02
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.49
|
4.40
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
|
40.000 |
40.000 |
|
Reserves & Surplus |
|
1,356.966 |
2,009.298 |
|
Net
worth |
|
1,396.966 |
2,049.298 |
|
|
|
|
|
|
long-term borrowings |
|
151.100 |
170.748 |
|
Short term borrowings |
|
2,091.518 |
3,147.723 |
|
Total
borrowings |
|
2,242.618 |
3,318.471 |
|
Debt/Equity
ratio |
|
1.605 |
1.619 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Sales |
17,758.502 |
28,120.619 |
43,941.575 |
|
|
|
58.350 |
56.261 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Sales |
17,758.502 |
28,120.619 |
43,941.575 |
|
Profit After Tax |
259.955 |
497.373 |
653.045 |
|
|
1.46% |
1.77% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
|
Long term
borrowing |
|
|
|
Loans and advances from related parties |
|
|
|
Anil I. Jagasia |
123.898 |
111.300 |
|
Anuradha Jagasia |
46.850 |
39.800 |
|
Total |
170.748 |
151.100 |
OPERATIONS
The
last financial year was one of the best from a business perspective. Their
Company performed very well and the same is reflected in the results. A robust
demand for their products, exploring and starting business with new vendors
along with optimum utilization of available resources has resulted in an
outstanding performance of their Company.
It
gives me great pleasure to share with their the highlights of their Company's
performance during the year 2012-2013:
- Net revenue increased from Rs 28120.619
millions in F.Y 12 to Rs 43941.575 millions in F.Y 13, which is an
increase of 56.26% on a standalone basis.
- Their Company earned a net profit after tax of
Rs 653.045 millions in FY 12 as against Rs 497.373 millions of FY11, which
is an increase of 31.30%.
- On Consolidated basis, Net revenue increased
from Rs 28234.408 millions in F.Y 12 to Rs 44475.672 millions lakhs in F.Y
13, which is an increase of 57.52%
In
India, their Company is a National Distributor for Hewlett Packard India Sales
Private Limited, Logitech India, Samsung Electronics India Private Limited (IT
and Mobile division), Acer India Private Limited and Microsoft Licensing GP.
The products marketed by their Company are Notebooks, Desktops, Mobiles, Smart
Phones, Inkjet and Laser Printers, Plotters, Servers, Storage products, Colour
Monitors, TFT monitors, Cartridges, Toners, Mice, Keyboards, Hard Disk Drives,
Optical Disk Drives, Mouse, Webcams, Microsoft Software, networking
equipment's, Accessories and other Computer peripherals.
Their
focused approach, extensive resources, market leadership and proven financial
stability are the reasons they are consistently the preferred distributor for
Samsung, HP, Logitech and others. Their services help a vendor optimize their
supply chain and ensure a smooth flow of goods from manufacturing locations
anywhere in the world, to any Indian channel partner.
PRESENT SCENARIO
It has
been tremendous journey in these two and half decades. Their Company has
performed well with its Net Worth constantly growing and they expect a good
performance in the current financial year too. The Directors of the Company
have put all efforts to control costs by continually discovering the new ways
for better supply chain management and simultaneously increasing the revenue of
the Company by approaching other branded Companies for distributorship and also
by opening up newer geographies.
The
current environment presents a host of challenges too. Inflation appears sticky
and the overall GDP growth of their country may be moderate in the near and
medium term. Competitive pressure from other brands will also be on the rise.
None of these challenges are new. The ability to steer through these conditions
and lead in the market is reflected in the numbers they have delivered. They
will not get complacent and shall continue to strive for higher growth with
greater efficiency in their operations.
The
Company has a strong portfolio of brands like HP, Samsung, Acer, Logitech and
Microsoft which are among the best IT Product vendors in the world. Their 550+
professional employees across the Country are our true advantage which helps
the Company provide excellence in execution, a sharp focus on quality,
continuous improvement in their distribution and overall satisfied customers.
Samsung
recently reorganized the distribution matrix for phones by taking the city of
Bangalore from us and awarding with the much larger state of Tamil Nadu. This
will give us additional revenue from mobile distribution. They continue with
mobile distribution for the states of Rajasthan and Kerala.
Keeping
in view the performance and future prospects of the company's business,
expansion being undertaken and business of its subsidiary, the company is
poised for sustained growth and outlook is bright. By March 2013, our Company
proposes to have a greater reach to cater to many more customers. I expect a
revenue of over Rs 60000.000 millions in this financial year
FIXED ASSETS:
v
Gala at Vasai and Andheri
v
Improvement of Leased Property
v
Computers and Software
v
Electronic Equipment
v
Furniture and Fixture
v
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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.60.27 |
|
|
1 |
Rs.100.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
NVA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.