MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

VARDHAMAN TECHNOLOGY PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

80 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing, Assembling and Trading in Computer Systems and Accessories.

 

 

Products :

Product Description

 

Item Code No.

Computer Systems, Accessories

84713010

 

 

Exports :

 

Products :

IT Products

Countries :

·         Nigeria

·         UK

·         USA

 

 

Imports :

 

Products :

IT Products

Countries :

·         Taiwan

·         China

·         Hong Kong

 

 

Terms :

 

Selling :

Credit and Advance

 

 

Purchasing :

L/C, Credit (30 days) and T/T 

 

 

GENERAL INFORMATION

 

Suppliers :

·         WPG C&C Computers and Peripheral India Private Limited

 

 

Customers :

Wholesalers and Retailers

 

·         ILF Consulting Engineers

 

 

No. of Employees :

80 (Approximately)

 

 

Bankers :

·         Canara Bank, H.O. at 112, Jayamarajendra, Bangalore – 560 002, Karnataka, India Branch at R.D. Shah Building, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India 

·         ICICI Bank Limited

·         HDFC Bank Limited

·         Standard Chartered Bank

·         State Bank of India

 

 

Facilities :

Fund Based: Rs.35.000 millions and Non-Fund Based: Rs.35.000 millions (From Canara Bank)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jain Salia and Associates

Chartered Accountants

Address :

4 and 8, Pawawala Building, 44, Elphinstone Road, Near Laxmi Nivas, Elphinstone (West), Mumbai – 400 013, Maharashtra, India

Tel. No.:

91-22-24334447/ 24362369

Mobile No.:

91-9664126404

E-Mail :

jainsalia@gmail.com

PAN No.:

AAJPS4216M

 

 

Associate Company :

ICT Infratech Services Private Limited (Panache Infotech Private Limited)

 

 

MAJOR SHAREHOLDERS

 

AS ON 27.09.2013

 

Names of Shareholders

 

 

No. of Shares

Amit Devchand Rambhia

 

100000

Nikit Devchand Rambhia

 

100000

Devchand Lalji Rambhia

 

99990

Deepa A. Rambhia jointly held with Deepa P. Rambhia

 

1

Deepa A. Rambhia jointly held with Hareshkumar Hansraj and Company, India

 

1

Deepa A. Rambhia jointly held with Jacky Savla

 

1

Deepa A. Rambhia jointly held with Jitendra R. Nagda

 

1

Deepa A. Rambhia jointly held with Khushbu Jacky Savla

 

1

Kavita N. Rambhia jointly held with Lalaji Hirji and Sons, India

 

1

Kavita N. Rambhia jointly held with Manilal K. Savla

 

1

Kavita N. Rambhia jointly held with Manilal K. Savla (HUF)

 

1

Kavita N. Rambhia jointly held with Raja Trading Company, India

 

1

Kavita N. Rambhia jointly held with Visanji Gangji Gala

 

1

Total

 

300000

 

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

3.000

3.000

3.000

(b) Reserves & Surplus

14.316

11.198

9.275

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

17.316

14.198

12.275

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

33.107

28.581

10.720

(b) Deferred tax liabilities (Net)

0.636

0.573

0.397

(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)

33.743

29.154

11.117

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

48.446

32.596

30.483

(b) Trade payables

55.161

52.820

25.163

(c) Other current liabilities

10.548

10.929

2.094

(d) Short-term provisions

2.784

0.326

1.689

Total Current Liabilities (4)

116.939

96.671

59.429

 

 

 

 

TOTAL

167.998

140.023

82.821

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

9.531

10.618

6.903

(ii) Intangible Assets

0.122

0.099

0.115

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.664

0.025

(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

1.645

2.709

1.390

Total Non-Current Assets

11.298

14.090

8.433

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

7.931

4.077

2.382

(b) Inventories

83.639

66.522

29.470

(c) Trade receivables

59.645

52.974

37.883

(d) Cash and cash equivalents

1.388

0.671

3.268

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

4.097

1.689

1.385

Total Current Assets

156.700

125.933

74.388

 

 

 

 

TOTAL

167.998

140.023

82.821

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

262.551

251.748

173.428

 

 

Other Income

 

 

 

 

 

TOTAL                                    

262.551

251.748

173.428

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Purchases and Total Expenditure

247.797

240.718

164.924

 

 

TOTAL                                    

247.797

240.718

164.924

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

14.754

11.030

8.504

 

 

 

 

 

Less

FINANCIAL EXPENSES, DEPRECIATION/ AMORTISATION                                  

9.716

8.227

0.406

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE EXCEPTIONAL ITEM, EXTRAORDINARY ITEM & TAX

5.038

2.803

8.098

 

 

 

 

 

Less

EXTRAORDINARY ITEM

0.313

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

4.725

2.803

8.098

 

 

 

 

 

Less

TAX                                                                 

1.608

0.880

2.626

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

3.117

1.923

5.472

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

11.198

9.275

3.803

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

14.315

11.198

9.275

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

For Goods

26.109

17.225

0.269

 

 

For Services

0.000

1.349

0.000

 

TOTAL EARNINGS

26.109

18.574

0.269

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

10.39

6.41

18.24

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

300.000

 

 

 

 

 

Expected Sales (2014-2015): Rs.500.000 millions

 

The above information has been parted by Mr. Rajesh (Purchase Manager).

 

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered Office/ Head Office :

Unit No.002, Raheja Plaza-1, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra

Tel. No.:

91-22-25007002/ 25007502

Mobile No.:

91-9322271321 (Mr. Nikit Rambhia)

91-9322268875 (Mr. Amit Devchand Rambhia)

Fax No.:

91-22-25007502

E-Mail :

nikit@rambhia.com

finance@vardhamantechnology.com 

Website :

http://www.vardhamantechnology.com

Area :

2000 sq. ft.

Location :

Owned

 

 

Factory 1:

F-6, 1st Floor, Avis Udyog Bhavan, Ringan Wada, Dhabel Village, Daman – 396 210, Union Territory, India

Area :

4000 sq. ft.

Location :

Leased

 

 

Factory 2:

Survey No.485/C, Futardo Compound, Near Dabhel Check Post, Dabhel, Daman – 396 210, Union Territory, India

Area :

8000 sq. ft.

Location :

Leased

 

 

Warehouse :

F N D Logistics Private Limited

Stoneage Complex, Mumbai-Nashik Bypass Road, Mankoli Naka, Behind Volvo Godown, Vehala Bhatla Road, Bhiwandi, Thane – 421 302, Maharashtra, India

 

Note:

The registered office of the company has been shifted from 105, Jhalawar, Patanwala Compound, L.B.S. Marg, Ghatkopar (West), Mumbai - 400 086, Maharashtra to the present address w.e.f. 25.06.2013.

 

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