MIRA INFORM REPORT
|
Report No. : |
311853 |
|
Report Date : |
12.03.2015 |
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 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.08.1998 |
|
|
|
|
Com. Reg. No.: |
04-034605 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 23.629 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52399GJ1998PLC034605 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00181G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8664M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of IT Products and Consumer Electronics Goods. |
|
|
|
|
No. of Employees
: |
270 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration vast experience of its promoters
in IT peripheral and Consumer Electronics trading business supported by its
established distribution, sound financial base and fair profitability margins
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Bank facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
February 02, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
February 02, 2015 |
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 : |
Ms. Reshma |
|
Designation : |
Account Department |
|
Contact No.: |
91-79-40211010 |
|
Date : |
11.03.2015 |
LOCATIONS
|
Registered
Office : |
GF - 8, Zodiac Square, Besides Vishal Mega Mart, Opposite
Gurudwara, S G Highway, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-40211010/
40013000 |
|
Mobile No. : |
91-9898240199 (Mr. Dharani Patel) |
|
Fax No.: |
91-79-40013000 |
|
E-Mail : |
reshma@careoffice.in
sales@careoffice.in
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Godowns : |
1)
Celler Vraj Vihar Tower Opposite Aryavrata Bungalows,
Behind Prerna-Tirth Bungalows, Jodhpur Gam Road, Satellite Ahmedabad -
380015, Gujarat, India 2)
415, Landmark, Mithakhali Six Road, Navrangpura,
Ahmadabad, Gujarat, India 3)
5A, R.K. Estate, Saekhej, Ahmedabad, Gujarat, India 4)
GF 2, 3, 4 and Celler Vraj Vihar Tower, Jodhpur Gam
Road, Ahmedabad, Gujarat, India 5)
Basement Zodiac Square, Opposite Gurudwara, S. G. Road,
Ahmadabad, Gujarat, India 6)
39/1, Mahagujarat Industrial Estate, Moje Changodar,
Village Moraiya, Taluka Sanand, Ahmedabad, Gujarat, India |
|
|
|
|
Showroom 1 : |
4 and 5 Ground
Floor, Fairdeal House, Near Swastik Cross Roads, C. G. Road, Ahmadabad -
380009, Gujarat, India |
|
|
|
|
Showroom 2 : |
8 GF, Ground
Floor and Basement, Opposite Gurudwara, S. G. Highway, Ahmedabad - 380009, Gujarat, India |
|
|
|
|
Showroom 3 : |
GF 1, Ozen, Sarabhai Compound, Near Genda
Circle, Cikram Sarabhai Road, Vadodara – 390007, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 1 : |
6 and 7, GF and Basement, Fairdeal House, Near
Swastik Cross Road, C. G. Road, Ahmedabad - 380009 Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 2 : |
5 and 6, Gokulesh Complex, Sampat Rao
Colony, R. C. Dutt Road, Alkapuri, Baroda - 390007, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 3 : |
GF Gokul Palace, Opposite Dena Bank,
Maninagar Cross Road, Manunagar, Ahmedabad – 380008, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 4 : |
GF Ratnasquare, Opposite H.K. College,
Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
|
|
|
Authorized
Service Center : |
Care Info Solutions
Private Limited GF and Basement, Shubh Complex, Behind
Sheth Opticals, Near Swastik Cross Road, Ahmadabad - 380009, Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Hemant Shantilal Shah |
|
Designation : |
Managing director |
|
Address : |
302, Shyamal Apartment, Suvidha Shopping Centre, Paldi, Ahmedabad -
380007, Gujarat, India |
|
Date of Birth/Age : |
12.02.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
31.08.1998 |
|
PAN No.: |
ACZPS4370F |
|
DIN No.: |
00458049 |
|
|
|
|
Name : |
Mr. Kamlesh Dhirajlal Shah |
|
Designation : |
Whole-time director |
|
Address : |
502, Kailashiddhi Apartment, Jodhpur Gam Road, Satellite, Ahmedabad -
380015, Gujarat, India |
|
Date of Birth/Age : |
08.03.1960 |
|
Qualification : |
M.B.A. |
|
Date of Appointment : |
31.08.1998 |
|
PAN No. : |
AAKPS7887D |
|
DIN No.: |
00458265 |
|
|
|
|
Name : |
Mr. Firozbhai Pirbhai Sama |
|
Designation : |
Whole-time director |
|
Address : |
402, Mayrose Tower, Near Ellisbridge Post Office, Ahmedabad - 380006,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1959 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
05.09.1998 |
|
PAN No. : |
AJRPS7695H |
|
DIN No.: |
00458426 |
|
|
|
|
Name : |
Mr. Mayurkant Kanhiyalal Shah |
|
Designation : |
Whole-time director |
|
Address : |
A-35, Kirtisagar Apartments, Jodhpur Gam Road, Satellite,
Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
27.07.1975 |
|
Qualification : |
B.COM |
|
Date of Appointment
: |
02.07.2007 |
|
PAN No. : |
ANYPS5246H |
|
DIN No.: |
01715326 |
|
|
|
|
Name : |
Mr. Mani Venkatachalam Iyer |
|
Designation : |
Whole-time director |
|
Address : |
A1/114 Nandan Apartments, Near Rajsurya Bunglows, Ramdevnagar, Ahmedabad – 380017, Gujarat,
India |
|
Date of Birth/Age : |
06.06.1965 |
|
Qualification : |
M.B.A. |
|
Date of
Appointment : |
02.07.2007 |
|
PAN No. : |
AADPI7138Q |
|
DIN No.: |
01715385 |
KEY EXECUTIVES
|
Name : |
Ms. Reshma |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
76.82 |
|
Other
top fifty shareholders |
23.18 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of IT Products and Consumer Electronics Goods. |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
· Dell · Acer · Lenovo · HP |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
-- |
||||
|
Countries : |
-- |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
IT Products |
||||
|
Countries : |
· Singapore · Taiwan · Malaysia |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
End Users and Dealers
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
270 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited Vastrapur Branch, Gujarat, India ·
Bank of India Ahmedabad MID Corporate Banking Branch, 1st Floor, BOI
Building, Swastik Char Rasta, Navrangpura, Ahmedabad – 380001, Gujarat, India
Tel. No.: 91-2642-260147 ·
ICICI Bank Limited JMC House Branch ·
HDFC
Bank Limited Satellite Road
Branch, Ahmedabad, Gujarat, India ·
Canara
Bank Navrangura
Branch, Ahmedabad - 380009, Gujarat, India · Bank of India Ahmedabad Mid
Corporate Branch, 1st Floor, BOI Building, Near Swastik Char
Rasta, CG Road, Navrangpura, Ahmedabad – 380009, Gujarat, India ·
Kotak Mahindra Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash Bhavsar and Associates Chartered Accountants |
|
Address : |
A/106, Oxford Avenue, Opposite C. U. Shah College, Income
Tax, Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-27542223 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAQPB5026P |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Care Info Solutions Private Limited
[U72500GJ2009PTC056855] |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,436,500 |
Equity Shares |
Rs. 10/- each |
Rs. 24.365 Millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,362,888 |
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 |
211.354 |
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) |
240.872 |
193.501 |
162.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
140.055 |
82.143 |
95.037 |
|
(b) Deferred tax liabilities (Net) |
0.287 |
0.287 |
0.287 |
|
(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) |
140.342 |
82.430 |
95.324 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
735.009 |
456.991 |
398.242 |
|
(b)
Trade payables |
210.753 |
225.352 |
188.941 |
|
(c)
Other current liabilities |
4.317 |
3.459 |
3.473 |
|
(d)
Short-term provisions |
33.782 |
39.273 |
44.418 |
|
Total
Current Liabilities (4) |
983.861 |
725.075 |
635.074 |
|
|
|
|
|
|
TOTAL |
1365.075 |
1001.006 |
893.298 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
63.586 |
46.110 |
38.044 |
|
(ii)
Intangible Assets |
0.160 |
0.132 |
0.023 |
|
(iii)
Capital work-in-progress |
5.737 |
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 |
69.483 |
48.993 |
39.314 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
776.923 |
619.956 |
495.547 |
|
(c)
Trade receivables |
435.859 |
291.533 |
317.921 |
|
(d)
Cash and cash equivalents |
57.283 |
20.759 |
22.481 |
|
(e)
Short-term loans and advances |
6.041 |
6.712 |
2.607 |
|
(f)
Other current assets |
19.486 |
13.053 |
15.428 |
|
Total
Current Assets |
1295.592 |
952.013 |
853.984 |
|
|
|
|
|
|
TOTAL |
1365.075 |
1001.006 |
893.298 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2783.707 |
2085.405 |
2056.596 |
|
|
|
Other Income |
1.934 |
1.124 |
0.515 |
|
|
|
TOTAL (A) |
2785.641 |
2086.529 |
2057.111 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
2577.699 |
1922.881 |
1886.395 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(156.967) |
(124.409) |
(66.617) |
|
|
|
Employees benefits expense |
57.243 |
42.363 |
33.217 |
|
|
|
Other expenses |
140.730 |
114.181 |
92.060 |
|
|
|
TOTAL (B) |
2618.705 |
1955.016 |
1945.055 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
166.936 |
131.513 |
112.056 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
94.988 |
76.427 |
59.852 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
71.948 |
55.086 |
52.204 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.338 |
6.319 |
5.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
62.610 |
48.767 |
46.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.128 |
18.166 |
16.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
41.482 |
30.601 |
30.142 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.56 |
12.95 |
12.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.49 |
1.47 |
1.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.00 |
6.31 |
5.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.61 |
4.89 |
5.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.25 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.63 |
2.79 |
3.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.31 |
1.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
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 |
211.354 |
|
Share Application money pending allotment |
0.000 |
0.000 |
5.889 |
|
Net
worth |
162.900 |
193.501 |
240.872 |
|
|
|
|
|
|
Long-term borrowings |
95.037 |
82.143 |
140.055 |
|
Short term borrowings |
398.242 |
456.991 |
735.009 |
|
Total
borrowings |
493.279 |
539.134 |
875.064 |
|
Debt/Equity ratio |
3.028 |
2.786 |
3.633 |
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) |
|
Sales |
2056.596 |
2085.405 |
2783.707 |
|
|
|
1.401 |
33.485 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2056.596 |
2085.405 |
2783.707 |
|
Profit |
30.142 |
30.601 |
41.482 |
|
|
1.47% |
1.47% |
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 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10534285 |
26/11/2014 |
100,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI, MAHARASHTRA - 400051, INDIA |
C35598119 |
|
2 |
10421926 |
09/04/2013 |
803,000,000.00 |
BOI CONSORTIUM - BANK OF INDIA & CANARA BANK |
AHMEDABAD MID
CORPORATE BRANCH 1ST FLR BOI BLDG, |
B73799850 |
|
3 |
10421928 |
09/04/2013 |
803,000,000.00 |
BOI CONSORTIUM - BANK OF INDIA & CANARA BANK |
AHMEDABAD MID
CORPORATE BRANCH 1ST FLR BOI BLDG, |
B73800047 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
138.530 |
80.995 |
|
|
|
|
|
Total |
138.530 |
80.995 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Celller Vraj Vihar
Tower, Opposite Aryavrata Bunglows, B/H Prerna Tirthbunglows, Jodhpur Gam Road,
Satelite, Ahmedabad - 380015, Gujarat, India to the present address
w.e.f.22.06.2013.
BUSINESS OPERATIONS:
The company is engaged in the business of reputed brands of
IT products, Consumer Electronic Products, Copier Products, Consumables and IT
accessories. During the year, the company has earned revenue of Rs. 2785.600
Millions compared to Rs. 2086.500 Millions of previous financial year showing
increase of 33.50%. The net profit after tax during the current financial year
was Rs. 41.400 Millions compared to net profit of Rs. 30.600 Millions of
previous financial year showing increase of 35.29%.
FIXED ASSETS:
· Buildings
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.75 |
|
|
1 |
Rs. 94.60 |
|
Euro |
1 |
Rs. 67.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
43 |
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.