MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
CCS INFOTECH LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 7, 3rd Floor, “CCS Towers”, No. 14, Old No. 18, Periyar High Road,
T. NA, Chennai - 600 017, Tamil Nadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.12.1997 |
|
|
|
|
Com. Reg. No.: |
18-039682 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.450 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L72300TN1997PLC039682 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Laptop, Desktop and its Peripheries and
also providing Hardware and Networking Solution. |
|
|
|
|
No. of Employees
: |
24 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by drastic dip
in profitability of the company and below average liquidity position. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some auction. |
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 |
CRISIL |
|
Rating |
Long term rating: “B” |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
20.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
20.01.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sai Krishan |
|
Designation : |
Account Manager |
|
Contact No.: |
91-44-28343897 |
|
Date : |
25.03.2014 |
LOCATIONS
|
Registered Office : |
Flat No. 7, 3rd Floor, “CCS Towers”, No. 14, Old No. 18, Periyar High Road,
T. NA, Chennai - 600 017, Tamil Nadu, India
|
|
Tel. No.: |
91-44-28343897 / 28341121 (6 Line) |
|
Fax No.: |
91-44-28340784 |
|
E-Mail : |
|
|
Website: |
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|
|
|
|
Factory: |
“Lakshmi Home: Plot No-14, Block C, Vinoba Nagar, Mariammakoil Street,
Pondicherry – 605013, |
|
|
|
|
Overseas Office : |
# 11-06,SIM LIM Towers, 10, Jalan Bezar, Singapore - 208787 |
|
Tel. No.: |
91-65-62966350 |
|
Fax No.: |
91-65-62965286 |
|
E-Mail : |
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|
|
|
Branches : |
Located at: · Tamil Nadu · Kerala · Andhra Pradesh · Maharashtra ·
Karnataka |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. M.A. Hasan Abdul Kader |
|
Designation : |
Chairman & Managing Director |
|
|
|
|
Name : |
Mr. H. Ratnakumar |
|
Designation : |
Executive Director |
|
Date of Birth: |
04.06.1967 |
|
Qualifications: |
B.E. |
|
Expertise: |
25 Years |
|
Other Directorships: |
Director, Right Choice Ventures (India) Limited |
|
|
|
|
Name : |
Mr. P. Ravivarma |
|
Designation : |
Director (Non-Executive and Independent) |
|
|
|
|
Name : |
Mr. S.Samkumar |
|
Designation : |
Director (Non-Executive and Independent) |
|
Date of Birth: |
20.04.1965 |
|
Qualifications: |
PG Diploma in Management |
|
Expertise: |
16 Years |
|
Other Directorships: |
Director, RK Info care Private Limited |
|
|
|
|
Name : |
Mrs. E. Selvarani |
|
Designation : |
Director (Non-Executive and Independent) |
KEY EXECUTIVES
|
Name : |
Mr. Sai Krishan |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2013
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as
a % of Total No. of Shares |
|
|
|
As a % of (A+B) |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2380801 |
23.70 |
|
|
2380801 |
23.70 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
2380801 |
23.70 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
354817 |
3.53 |
|
|
|
|
|
|
3999748 |
39.82 |
|
|
3177397 |
31.63 |
|
|
132237 |
1.32 |
|
|
82281 |
0.82 |
|
|
49956 |
0.50 |
|
|
7664199 |
76.30 |
|
Total Public
shareholding (B) |
7664199 |
76.30 |
|
Total (A)+(B) |
10045000 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
10045000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Laptop, Desktop and its Peripheries and
also providing Hardware and Networking Solution. |
|
|
|
|
Agencies Held : |
·
H.P. ·
DELL |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, advance Payment and Cheque |
|
|
|
|
Purchasing : |
Cash, advance Payment and Cheque |
GENERAL INFORMATION
|
Customers : |
Corporate and Government Department |
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No. of Employees : |
24 (Approximately) |
|||||||||||||||||||||||||||
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Bankers : |
·
State Bank of India ·
Tamilnad Mercantile Bank Limited ·
ICICI Bank Limited |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Subbiah and Company Chartered Accountants |
|
Address : |
Chennai - 600 093, Tamil Nadu, India |
|
|
|
|
Wholly Owned Subsidiary: |
CCS Infotech Singapore Pte Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
Rs.10/- each |
Rs. 510.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10045000 |
Equity Shares |
Rs.10/- each |
Rs. 100.450
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
100.450 |
100.450 |
100.450 |
|
(b) Reserves & Surplus |
101.127 |
100.061 |
93.470 |
|
(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) |
201.577 |
200.511 |
193.920 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
123.934 |
12.625 |
22.458 |
|
(b) Deferred tax liabilities
(Net) |
0.883 |
0.883 |
0.883 |
|
(c) Other long term
liabilities |
0.000 |
3.428 |
3.713 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
124.817 |
16.936 |
27.054 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
121.221 |
199.401 |
137.813 |
|
(b) Trade payables |
222.065 |
166.469 |
116.213 |
|
(c) Other current liabilities |
4.693 |
2.406 |
2.088 |
|
(d) Short-term provisions |
0.000 |
(3.258) |
0.000 |
|
Total
Current Liabilities (4) |
347.979 |
365.018 |
256.114 |
|
|
|
|
|
|
TOTAL |
674.373 |
582.465 |
477.088 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.305 |
11.131 |
16.902 |
|
(ii) Intangible Assets |
3.421 |
5.701 |
0.151 |
|
(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 |
0.518 |
0.518 |
0.702 |
|
(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 |
9.244 |
17.350 |
17.755 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
124.604 |
128.356 |
74.650 |
|
(c) Trade receivables |
430.246 |
336.389 |
290.749 |
|
(d) Cash and cash equivalents |
4.316 |
4.238 |
4.951 |
|
(e) Short-term loans and
advances |
17.337 |
10.935 |
12.864 |
|
(f) Other current assets |
88.626 |
85.197 |
76.119 |
|
Total
Current Assets |
665.129 |
565.115 |
459.333 |
|
|
|
|
|
|
TOTAL |
674.373 |
582.465 |
477.088 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
385.006 |
943.735 |
759.702 |
|
|
Other Income |
52.887 |
72.407 |
61.231 |
|
|
TOTAL
(A) |
437.893 |
1,016.142 |
820.933 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
380.526 |
930.161 |
754.764 |
|
|
Employees benefits expense |
8.458 |
10.601 |
8.541 |
|
|
Administrative Expenses |
6.356 |
7.903 |
9.329 |
|
|
Selling
Expenses |
0.712 |
4.655 |
4.819 |
|
|
Other expenses |
0.311 |
1.702 |
0.523 |
|
|
TOTAL
(B) |
396.363 |
955.022 |
777.976 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
41.530 |
61.120 |
42.957 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.198 |
42.633 |
23.337 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.332 |
18.487 |
19.620 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
8.266 |
9.776 |
8.039 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.066 |
8.711 |
11.581 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.904 |
2.121 |
0.905 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.162 |
6.590 |
10.676 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
100.060 |
93.470 |
82.794 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
100.222 |
100.060 |
93.470 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
1.236 |
2.346 |
|
|
TOTAL
EARNINGS |
NA |
1.236 |
2.346 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.09 |
0.66 |
1.06 |
Expected Sales (2013-2014): Rs. 700.000 Millions
The above information has been parted by Mr. Sri Krishan
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.04 |
0.65 |
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.28 |
0.92 |
1.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.16 |
1.50 |
2.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.04 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.21 |
1.06 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91 |
1.55 |
1.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
100.450 |
100.450 |
100.450 |
|
Reserves & Surplus |
93.470 |
100.061 |
101.127 |
|
Net
worth |
193.920 |
200.511 |
201.577 |
|
|
|
|
|
|
long-term borrowings |
22.458 |
12.625 |
123.934 |
|
Short term borrowings |
137.813 |
199.401 |
121.221 |
|
Total
borrowings |
160.271 |
212.026 |
245.155 |
|
Debt/Equity
ratio |
0.826 |
1.057 |
1.216 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
759.702 |
943.735 |
385.006 |
|
|
|
24.224 |
(59.204) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
759.702 |
943.735 |
385.006 |
|
Profit |
10.676 |
6.590 |
0.162 |
|
|
1.41% |
0.70% |
0.04% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Ms. Suganya |
26.923 |
0.000 |
|
Ms. RahmathMushina |
0.852 |
0.000 |
|
|
|
|
|
Total |
27.775 |
0.000 |
CASE DETAILS
|
Case Status: |
Pending |
|
Status Of: |
APPLICATION |
|
Case No.: |
765 |
|
Year : |
2013 |
|
Petitioner : |
M/S. ICICI LOMBARD GENERAL |
|
Respondent : |
M/S.CCS INFOTECH LTD |
|
Pet's Advocate : |
M/S.FOX MANDAL & ASSOCIAT |
|
Res's Advocate : |
R1-M/S.CCS INFOTECH LTD |
|
Category : |
Money Suits |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Apr 3 2013 |
BUSINESS OUTLOOK
The Company is among India's leading Information Technology Solutions provider having a wide range of expertise in Systems Integration and e-Governance including Hardware Solutions, Software Development and Networking Services and into manufacture of computers and export of IT products from India as an OEM.
The Company presently has the following divisions:
1. Manufacturing – The manufacturing Plant is situated at Puducherry and has got
ISO 9001:2008 certifications
2. System Integration – The Company has partnered with leading IT hardware Companies and has bagged many System Integration projects.
3. Services – AMC/FMS – The Company is providing AMC/FMS to leading companies in different business verticals.
4. Supply Contracts under BOLT/BOOM – The Company is presently executing supply contracts under BOLT / BOOM structures for Public Sector Undertakings and working to achieve a healthy growth in this segment.
5. E-Governance – The Company is continuing its services in the E Governance sector and doing citizen services in Andhra Pradesh and working towards getting new orders.
Their clientele strength has been the key success to their growth. They have a long-term association with all their clients and many referral clients are added to clientele year on year.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENT
The Company is among India's leading Information Technology Solutions provider. The Company has wide range of expertise in Systems Integration and e-Governance including Hardware Solutions, Software Development and Networking Services. The Company is into manufacture of computers and export of IT products from India.
The Company presently
has the following divisions:
1. Manufacturing – The manufacturing Plant is situated at Puducherry and has got
ISO 9001:2008 certifications
2. System Integration – The Company has partnered with leading IT hardware Companies and has bagged many System Integration projects.
3. Services – AMC/FMS – The Company is providing AMC/FMS to leading companies in different business verticals.
4. Projects and Solutions under BOLT/BOOM – The Company is presently executing BOLT projects for Public Sector Undertakings and working to achieve 100% growth year on year in this segment.
5. E-Governance – The Company is presently doing citizen services in Andhra Pradesh and working to get new orders.
Their clientele strength has been the key success to their growth. They have a long-term association with all their clients and many referral clients are added to clientele year on year. The company is catering to customers in Government, Education, Defense, Health care, Corporate and SME verticals.
OUTLOOK ON
OPPORTUNITIES, THREATS, RISKS AND CONCERNS
The demand for computers and computer peripherals has grown rapidly over the years and is still increasing due to large penetration in rural areas. The demand is more in select verticals due to cost saving during the worldwide economic slowdown.
In 2014, the Global Computer Hardware Manufacturing industry is expected to generate revenue of $585.4 billion (up 2.1% compared with revenue in 2012) and employ almost 3 million people. Tablet and laptop sales represent a major driver of the industry. Worldwide unit PC shipments are expected to remain stagnant or have a slight negative growth in the coming year.
The computer software and hardware manufacturing industry is characterized by significant research and development activity and rapid technological change. The rapid pace of innovation in this sector creates a constant demand for newer and faster products and applications. While the sector, according to the Bureau of Labor Statistics, has grown faster than most other industries over the past several decades, it faces challenges from rising costs, global market share, and the rapid pace of innovation.
Entry of smart phones and hand held devices has become a threat for personal computing products like laptops, tablets and desktop computers. With the phenomenal success of open source platforms like android for these devices the conventional computing devices are loosing its sheen in personal computing. This is a major concern for system manufacturers worldwide.
OUTLOOK
The IT industry after rapid growth has recorded a negative growth this year as per IDC reports. However the company has stopped executing low margin orders and is foraying into renewable energy markets. This move will yield better result in the coming years and the company is expected to grow at a better rate.
FIXED ASSETS
· Computers
· Office Equipments
· Furniture and Fixtures
· Motor 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 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. 60.17 |
|
|
1 |
Rs. 99.39 |
|
Euro |
1 |
Rs. 83.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.