MIRA
INFORM REPORT
|
Report Date : |
13.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CARE OFFICE EQUIPMENT LIMITED (w.e.f. 14.09.2010) |
|
|
|
|
Formerly Known
As : |
CARE OFFICE EQUIPMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
GF - 8, Zodiac Square, Besides Vishal Mega Mart, Opposite Gurudwara, S G Highway, Ahmedabad – 380054, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.08.1998 |
|
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Com. Reg. No.: |
04-034605 |
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Capital
Investment / Paid-up Capital : |
Rs. 23.629 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110GJ1998PLC034605 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Trader of IT Products and Consumer Electronics Goods. |
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|
|
|
No. of Employees
: |
270 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. As per financial of 2013, overall financial position of the company is
decent. Madam Dharani Patel, Charted Accountant provided provisional financial
statement for the year 2013-14. Trade relations are reported to be fair. Business is active. Payments
are reported to usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 30, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
September 30, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Dharani Patel |
|
Designation : |
Charted Accountant |
|
Contact No.: |
91-9898240199 |
|
Date : |
11.08.2014 |
LOCATIONS
|
Registered
Office : |
GF - 8, Zodiac Square, Besides Vishal Mega Mart, Opposite
Gurudwara, S G Highway, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No. : |
91-9898240199 (Mr. Dharani Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
reshma@careoffice.in
sales@careoffice.in
|
|
Websites: |
http://www.careoffice.in
|
|
Location : |
Owned |
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|
|
|
Branch Office
: |
Celller Vraj
Vihar Tower Opposite Aryavrata Bungalows, Behind Prerna-Tirth Bungalows, Jodhpur
Gam Road, Satellite Ahmedabad - 380015, Gujarat, India |
|
Tel. No.: |
91-79-26924821-25
/ 40013000 |
|
Fax No.: |
91-79-26924825
/26421253 /26923019 /40013096 |
|
Area : |
20000 sq.fts |
|
Location : |
Rented |
|
|
|
|
Showroom 1: |
4 and 5 Ground
Floor, Fairdeal House, Near Swastik Cross Roads, C. G. Road, Ahmadabad - 380
009, Gujarat, India |
|
Tel. No.: |
91-79-26421251/2/26527176/26560204/40013900/40013952/26421253/40013050/400130000 |
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Fax No.: |
91-79-26560204/40013910/26421252 |
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Area : |
2000 Sq. fts |
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Location : |
Rented |
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Showroom 2: |
8 GF, Ground
Floor and Basement, Opposite Gurudwara, |
|
Area : |
5000 Sq. ft. |
|
Location : |
Owned |
|
|
|
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Showroom 3: |
GF, 19, Windsor Plaza, R. C. Dutt Road, Alkapuri, Vadodara
- 390007, Gujarat, India |
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Showroom 4 : |
39/1, Mahagujarat Industrial Estate, Moje - Changodar,
Village : Moraiya Tal : Sanand, Dist. : Ahmadabad, Gujarat, India |
|
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|
|
Exclusive Dell
Showrooms 1 : |
6 and 7, GF and Basement, Fairdeal House, Near Swastik
Cross Road, C. G. Road, Ahmedabad 380 009 Gujarat, India |
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|
|
Exclusive Dell
Showrooms 2 : |
5 and 6, Gokulesh Complex, Sampat Rao Colony, R. C. Dutt Road,
Alkapuri, Baroda - 390 007, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 3 : |
No. 1, Upper Ground Floor, Jivan Deep Building, Near
Nirmal Hospital, Opp. Sub Jail, Ring Road, Surat - 395 002, Gujarat, India |
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|
|
|
Other Godowns
: |
·
4,5, Landmark, Mithakhali Six Road, Navrangpura, Ahmadabad, Gujarat,
India ·
5, N. K. Patel Estate No. 2, Sarkhej Bavla Road, Moje Fatehwadi,
Taluka Daskoi, Dist. Ahmadabad, Gujarat, India ·
GF 2, 3, 4 and Celler Vraj Vihar Tower, Jodhpur Gam Road, Ahmadabad,
Gujarat, India ·
Basement Zodiac Square, Opp : Gurudwara, S. G. Road, Ahmadabad,
Gujarat, India |
|
|
|
|
Authorized
Service Center : |
Care Info
Solutions Private Limited GF and Basement, Shubh Complex, Behind Sheth Opticals, Near.
Swastik Cross Road, Ahmadabad 380 009, Gujarat, India |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Hemant Shantilal Shah |
|
Designation : |
Managing Director |
|
Address : |
302, Shyamal Apartment, Suvidha Shopping Centre, Paldi, Ahmedabad
380007, |
|
Date of Birth/Age : |
12.02.1968 |
|
Date of Appointment : |
31.08.1998 |
|
DIN No.: |
00458049 |
|
PAN No.: |
ACZPS4370F |
|
|
|
|
Name : |
Mr. Kamlesh Dhirajlal Shah |
|
Designation : |
Director |
|
Address : |
502, Kailashiddhi Apartment, |
|
Date of Birth/Age : |
08.03.1960 |
|
Date of Appointment : |
31.08.1998 |
|
DIN No.: |
00458265 |
|
PAN No. : |
AAKPS78870D |
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|
|
|
Name : |
Mr. Firozbhai Pirbhai Sama |
|
Designation : |
Director |
|
Address : |
402, |
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Date of Birth/Age : |
01.06.1959 |
|
Date of Appointment : |
05.09.1998 |
|
DIN No.: |
00458426 |
|
PAN No. : |
ADEP80725C |
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|
|
|
Name : |
Mr. Mayurkant Kanhiyalal Shah |
|
Designation : |
Director |
|
Address : |
A-35, Kirtisagar Apartments, |
|
Date of Birth/Age : |
27.07.1975 |
|
Date of
Appointment : |
02.07.2007 |
|
DIN No.: |
01715326 |
|
|
|
|
Name : |
Mr. Mani Venkatachalam Iyer |
|
Designation : |
Director |
|
Address : |
A1/114 Nandan Apartments, Near Rajsurya Bunglows, Ramdevnagar, Ahmedabad – 380017, Gujarat,
India |
|
Date of Birth/Age : |
06.06.1965 |
|
Date of
Appointment : |
02.07.2007 |
|
DIN No.: |
01715385 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
SHAREHOLDING DETAIL FILE ATTACHED
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
75.40 |
|
Other |
24.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of IT Products and Consumer Electronics Goods. |
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Products : |
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Agencies Held : |
·
Dell ·
Lenovo ·
Acer ·
HP |
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Imports : |
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Products : |
IT Products |
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Countries : |
·
Taiwan ·
Malaysia |
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Terms : |
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Selling : |
Cash and Credit (LC, T.T) |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users (Dealer) ·
ONGC |
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No. of Employees : |
270 (Approximately) |
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Bankers : |
Tel.
No.: 91-2642-260147
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Prakash Bhavsar and Associates Chartered Accountants |
|
Address : |
A – 106, Oxford Avenue, Opposite C. U. Shah College Income Tax,
Ahmedabad 380014, Gujarat, India |
|
PAN
No. : |
AAQPB5026P |
|
|
|
|
Associates : |
Care Info Solutions
Private Limited, India (CIN: U72500GJ2009PTC056855) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2362888 |
Equity Shares |
Rs.10/- each |
Rs. 23.629 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
23.629 |
23.629 |
23.629 |
|
(b) Reserves & Surplus |
216.356 |
169.872 |
139.271 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
5.889 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
245.874 |
193.501 |
162.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
138.529 |
82.143 |
95.037 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.287 |
0.287 |
|
(c) Other long term liabilities |
3.481 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
142.010 |
82.430 |
95.324 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
733.000 |
456.991 |
398.242 |
|
(b) Trade payables |
187.946 |
225.352 |
188.941 |
|
(c) Other current
liabilities |
11.524 |
3.459 |
3.473 |
|
(d) Short-term provisions |
36.776 |
39.272 |
44.418 |
|
Total Current Liabilities (4) |
969.246 |
725.074 |
635.074 |
|
|
|
|
|
|
TOTAL |
1357.130 |
1001.005 |
893.298 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
72.836 |
46.110 |
38.044 |
|
(ii) Intangible Assets |
0.000 |
0.132 |
0.023 |
|
(iii) Capital
work-in-progress |
0.000 |
2.751 |
1.247 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
72.836 |
48.993 |
39.314 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
771.923 |
619.956 |
495.547 |
|
(c) Trade receivables |
426.000 |
291.532 |
317.921 |
|
(d) Cash and cash
equivalents |
40.339 |
20.759 |
22.481 |
|
(e) Short-term loans
and advances |
37.451 |
6.712 |
2.607 |
|
(f) Other current
assets |
8.581 |
13.053 |
15.428 |
|
Total Current Assets |
1284.294 |
952.012 |
853.984 |
|
|
|
|
|
|
TOTAL |
1357.130 |
1001.005 |
893.298 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2740.715 |
2085.405 |
2056.596 |
|
|
|
Other Income |
1.178 |
1.124 |
0.515 |
|
|
|
TOTAL |
2741.893 |
2086.529 |
2057.111 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of trading
goods |
2522.129 |
1922.881 |
1886.395 |
|
|
|
Changes in
inventories of finished goods |
(151.967) |
(124.409) |
(66.617) |
|
|
|
Employee benefits
expense |
63.770 |
46.921 |
37.280 |
|
|
|
Other
administrative & selling & operation expenses |
135.399 |
109.623 |
87.997 |
|
|
|
TOTAL |
2569.331 |
1955.016 |
1945.055 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
172.562 |
131.513 |
112.056 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
98.393 |
76.426 |
59.852 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
74.169 |
55.087 |
52.204 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.557 |
6.319 |
5.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
67.612 |
48.768 |
46.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
21.128 |
18.167 |
16.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
46.484 |
30.601 |
30.142 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic |
NA |
12.95 |
13.68 |
|
|
|
Diluted |
NA |
12.76 |
11.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.70 |
1.47
|
1.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.47 |
2.34
|
2.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.98 |
4.88
|
5.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.25
|
0.9 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.54 |
2.79
|
3.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.31
|
1.34 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
23.629 |
23.629 |
23.629 |
|
Reserves & Surplus |
139.271 |
169.872 |
216.356 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
5.889 |
|
Net
worth |
162.900 |
193.501 |
245.874 |
|
|
|
|
|
|
long-term borrowings |
95.037 |
82.143 |
138.529 |
|
Short term borrowings |
398.242 |
456.991 |
733.000 |
|
Total
borrowings |
493.279 |
539.134 |
871.529 |
|
Debt/Equity
ratio |
3.028 |
2.786 |
3.545 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operations |
2056.596 |
2085.405 |
2740.715 |
|
|
|
1.401 |
31.424 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operations |
2056.596 |
2085.405 |
2740.715 |
|
Profit |
30.142 |
30.601 |
46.484 |
|
|
1.47% |
1.47% |
1.70% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current
maturities of long-term debt |
|
|
|
|
Kotak Mahindra Prime Limited -(Hundai 1-20-1) |
|
0.104 |
0.183 |
|
Kotak Mahindra Prime Limited -(Hundall-20-2) |
|
0.103 |
0.183 |
|
Kotak Mahindra Prime Limited -(Skoda -laura) |
NA |
0.279 |
0.685 |
|
Kotak Mahindra Prime Limited -(DusterRA-7010) |
|
0.403 |
0.000 |
|
Kotak Mahindra Prime Limited (XUV 500 GJ 01 KR 7010) |
|
0.461 |
0.000 |
|
Kotak Mahlndra Prime Limited. (Leeva KP-7293) |
|
0.205 |
0.000 |
|
|
|
|
|
|
Total |
NA |
1.555 |
1.051 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The Registered Office of the company has been shifted from Celller Vraj Vihar Tower Opposite Aryavrata
Bungalows, Behind Prerna-Tirth Bungalows, Jodhpur Gam Road, Satellite Ahmedabad
- 380015, Gujarat, India to the present address.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured Loan |
NA |
80.995 |
|
|
|
|
|
Total |
NA |
80.995 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421926 |
09/04/2013 |
803,000,000.00 |
BOI CONSORTIUM - BANK OF INDIA &
CANARA BANK |
AHMEDABAD MID CORPORATE BRANCH 1ST FLR BOI BLDG, NR SWASTIK CHAR RASTA, C G ROAD,
NAVRANGPURA, AHMEDABAD, Gujarat - 380009, INDIA |
B73799850 |
|
2 |
10421928 |
09/04/2013 |
803,000,000.00 |
BOI CONSORTIUM - BANK OF INDIA &
CANARA BANK |
AHMEDABAD MID CORPORATE BRANCH 1ST FLR BOI BLDG, NR SWASTIK CHAR RASTA, C G ROAD,
NAVRANGPURA, AHMEDABAD, Gujarat - 380009, INDIA |
B73800047 |
PERFORMANCE:
During the short span of Fifteen year the company has achieved turnover of
Rs.2086.500 millions and the company have achieved prominent position in the
office equipment products. The company has sustained growth rate in the
competitive environment of information technology and office equipment
products.
FIXED ASSETS
œ Buildings
œ Office Building
œ Plant and Equipment
œ Factory Equipments
œ Other plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Motor Vehicles
œ Office Equipment
œ
Computer Equipments
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.61.19 |
|
|
1 |
Rs.102.56 |
|
Euro |
1 |
Rs.81.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.