MIRA INFORM REPORT

 

 

Report No. :

339636

Report Date :

07.09.2015

 

IDENTIFICATION DETAILS

 

Name :

INGRAM MICRO INDIA PRIVATE LIMITED (w.e.f. 05.01.2015)

 

 

Formerly Known As :

INGRAM MICRO INDIA LIMITED (w.e.f. 13.05.2009)

 

Tech pacific (india) Limited

 

 

Registered Office :

5th Floor, Block B, Godrej IT Park, 02 Godrej Business District, Pirojshanagar, Vikhroli (West), Mumbai – 400 079, Maharashtra

Tel. No.:

91-22-3989445

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.03.1996

 

 

Com. Reg. No.:

11-136340

 

 

Capital Investment / Paid-up Capital :

Rs.184.928 Million

 

 

CIN No.:

[Company Identification No.]

U72900MH1996PTC136340

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

mumt06887G

 

 

PAN No.:

[Permanent Account No.]

aabct1296R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of distribution of Information Technology Hardware, Software, Mobility, Networking and Security Products.

 

 

No. of Employees :

1000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (81)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “Ingram Micro Inc. USA.

 

It is an established company incorporated in the year 1996 having an excellent track record.

 

Financial position of the company is strong Fundamentals of the company are healthy.

 

Further the rating takes into consideration rich experience of its promoter’s long business track record and strong operating efficiency of the company.

 

The company also derives strength from its holding company and its experienced management.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment.

 

In view of long track record sound financial base and strong holding support the company can be considered good 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Hormuzd Bharucha

Designation :

Credit Manager

Contact No.:

91-22-30561320

Date :

07.09.2015

 

 

LOCATIONS

 

Registered Office :

5th Floor, Block B, Godrej IT Park, 02 Godrej Business District, Pirojshanagar, Vikhroli (West), Mumbai – 400 079, Maharashtra, India

Tel. No.:

91-22-30561142/67960101

Fax No.:

91-22-67960102

E-Mail :

sunil.j@ingrammicro.co.in

prabhakar.i@ingrammicro.co.in

kolanji.mudaliyar@ingrammicro.com

Website :

http://www.imonline.co.in

Location:

Owned

Locality:

Commercial

 

 

Branch office :

G-9, Block B-1, Mohan Co-Operative Industrial Area, Mathura Road, New Delhi-110019, Delhi, India

 

 

Southern Branches :

Located at:

 

·         Bangalore

·         Chennai 

·         Cochin

·         Coimbatore

·         Hubli

·         Hyderabad

·         Madurai

·         Pudhucherry

·         Trivandrum

·         Vizag

 

 

Western Branches :

Located at:

 

·         Ahmedabad

·         Vadodara

·         Bhopal

·         Indore

·         Surat

·         Mumbai

·         Nagpur

·         Pune

·         Raipur

·         Goa

 

 

Northern Branches :

Located at:

 

·         Chandigarh

·         NCR - New Delhi

·         New Delhi

·         Dehradun

·         Jaipur

·         Lucknow

·         Ghaziabad (NCR)

·         Gurgoan (NCR)

·         Jammu

·         Parwanoo

·         Ludhiana

 

 

Eastern Branches :

Located at:

 

·         Bhubaneshwar

·         Kolkata

·         Ranchi

·         Guwahati

·         Patna

 

 

Overseas Branch Office :

Located at:

 

·         Singapore

 

 

DIRECTORS

 

AS ON 22.09.2014

 

Name :

Mr. Jaishankar Vaidyanathan Krishnan

Designation :

Managing director

Address :

Flat No.1201, Somerset Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

20.07.1957

Qualification :

MMM, BE (E&C)

Experience :

36 Years

Date of Appointment :

01.01.2014

PAN No.:

AAMPK4962B

DIN No.:

00101652

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72900MH1996PTC136340

INGRAM MICRO INDIA Private Limited

Managing director

1/1/2014

27/10/2001

-

Active

NO

2

U72200MH1999PTC121716

Grainger Industrial Supply India Private Limited

Director

18/11/2002

18/11/2002

14/09/2007

Active

NO

3

U65923MH1981PLC024957

SURAJAMI INVESTMENT AND TRADING COMPANY LIMITED

Director

27/12/2002

27/12/2002

-

Active

NO

4

U51101MH2012PTC237694

INGRAM MICRO INDIA SSC Private Limited

Director

8/11/2012

8/11/2012

14/10/2014

Active

NO

5

U93030MH2013NPL239265

Technology Distribution Association of India

Additional director

10/6/2014

10/6/2014

-

Active

NO

 

 

Name :

Stephen John Paine

Designation :

Director

Address :

Le Grove serviced apartments, M – 206, 32 Orange Grove Road, Singapore – 258354

Date of Birth/Age :

17.01.1958

Qualification :

Member of Institute of Chartered Accountant and Foundation in Accountancy Qualification from University of Kingston, England

Date of Appointment :

28.12.2007

DIN No.:

01025188

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72900MH1996PTC136340

INGRAM MICRO INDIA Private Limited

Director

28/12/2007

5/12/2006

-

Active

NO

 

 

Name :

John Soumbasakis

Designation :

Director

Address :

15, Ardmore Park, #26-04 Ardmore Park, Singapore, 259959, , Singapore

Date of Birth/Age :

10.01.1970

Date of Appointment :

22.09.2014

DIN No.:

06744864

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72900MH1996PTC136340

INGRAM MICRO INDIA Private Limited

Director

22/09/2014

9/12/2013

-

Active

NO

2

U65923MH1981PLC024957

SURAJAMI INVESTMENT AND TRADING COMPANY LIMITED

Director

30/09/2014

22/08/2014

-

Active

NO

 

 

Name :

Pablo Antonio Aquino Ventura

Designation :

Additional director

Address :

8 Bedok Reservoir View, #05-21, Singapore, 479235, Singapore

Date of Appointment :

26.02.2015

DIN No.:

07105008

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Gajanan Joglekar

Designation :

Secretary

Address :

F-105, Sumer Castle, Lbs Road, Thane, Thane, 400601, Maharashtra, India

Date of Birth/Age :

18.12.1964

Date of Appointment :

13.04.2009

PAN No:

ACNPJ2440C

 

 

Name :

Mr. Hormuzd Bharucha

Designation :

Credit Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 22.09.2014

 

Names of Shareholders

 

 

No. of Shares

Shailendra Gupta 

 

1

Jaishankar Krishnan

 

1

Sanjay Achawal

 

1

Ingram Micro Asia Limited, Singapore

 

18492710

Ingram Micro Americas Inc., USA (Earlier known as Ingram Micro Asia Holdings, Inc.)

 

100

Prabhakar V. Iyer

 

1

Atul Gaur

 

1

Blasé Martin D’Souza

 

1

Navneet Singh Bindra

 

1

Total

 

18492817

 

AS ON 22.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of distribution of Information Technology Hardware, Software, Mobility, Networking and Security Products.

 

 

Products :

Products Description

 

Item Code No.

Computer Systems

84714101.1

Computer Peripherals

847160.05/60.12/60.198/847170.00

Consumables

847330.50/ 847330.99

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

I T Related Products

Countries :

·         Singapore

·         USA

·         China

 

 

Terms :

 

Selling :

Cash, L/C and Cheque

 

 

Purchasing :

Cash, L/C and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

1000  (Approximately)

 

 

Bankers :

Central Bank of India, Corporate Finance Branch, 1st floor, M.S. Road, Fort, , Mumbai - 400023, Maharashtra, India

 

Banker Name

HDFC Bank Limited

Branch Address

DR. Annie Basant Road, Worli, Mumbai, Maharashtra, Inia

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants 

Address :

Lovelock and Lewes, 252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400 028, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAEFP5579P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Companies :

·         Ingram Micro Inc., United States

·         Ingram Micro Asia Limited, Singapore

 

 

Subsidiary Company :

Ingram Micro (India) Exports Pte. Limited, Singapore

 

 

Fellow Subsidiary Company :

·         Ingram Micro Pty. Limited

·         Ingram Micro Australia Pty Limited, Australia

·         Ingram Micro NZ Limited, New Zealand

·         Ingram Micro Singapore (South Asia) Pte. Limited, Singapore

·         Ingram Micro Asia Pacific Pte. Limited, Singapore

·         Ingram Micro Malaysia SDN BHD., Malaysia

·         Ingram Micro (Thailand) Limited, Thailand

·         Ingram Micro Lanka (Private) Limited, Sri Lanka

·         Bright Point India Private Limited, India (CIN No.: U74899DL1998PTC094807)

 

 

CAPITAL STRUCTURE

 

AS ON 22.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

32000000

Equity Shares

Rs.10/- each

Rs.320.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

18492817

Equity Shares 

Rs.10/- each

Rs.184.928 million

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

19000000

Equity Shares

Rs.10/- each

Rs.190.000 million

1300000

Preference Shares

Rs.100/- each

Rs.130.000 million

 

Total

 

Rs.320.000 million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

18492817

Equity Shares 

Rs.10/- each

Rs.184.928 million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

184.928

184.928

184.928

(b) Reserves & Surplus

10162.822

8624.609

7450.327

(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)

10347.750

8809.537

7635.255

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

2892.610

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

132.398

135.169

84.036

Total Non-current Liabilities (3)

3025.008

135.169

84.036

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2244.792

3456.668

2425.296

(b) Trade payables

15560.748

13255.551

12355.214

(c) Other current liabilities

938.147

867.509

725.121

(d) Short-term provisions

100.375

170.938

27.591

Total Current Liabilities (4)

18844.062

17750.666

15533.222

 

 

 

 

TOTAL

32216.820

26695.372

23252.513

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

150.016

83.455

84.367

(ii) Intangible Assets

1.903

0.286

0.000

(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

1.668

1.168

1.168

(c) Deferred tax assets (net)

277.690

254.151

187.384

(d)  Long-term Loan and Advances

987.834

1047.066

241.829

(e) Other Non-current assets

88.339

48.838

2.608

Total Non-Current Assets

1507.450

1434.964

517.356

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

12605.957

10142.946

8339.576

(c) Trade receivables

15370.975

12267.958

10867.600

(d) Cash and cash equivalents

938.882

1078.456

812.065

(e) Short-term loans and advances

628.017

730.062

1610.545

(f) Other current assets

1165.539

1040.986

1105.371

Total Current Assets

30709.370

25260.408

22735.157

 

 

 

 

TOTAL

32216.820

26695.372

23252.513

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

142441.612

121093.502

95451.007

 

 

Other Income

571.530

396.054

299.793

 

 

TOTAL                                     (A)

143013.142

121489.556

95750.800

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of stock-in-trade

139268.393

118311.523

92812.455

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(2463.012)

(1803.369)

(1283.307)

 

 

Employee benefit expense

1127.295

964.690

740.338

 

 

Other expenses

2211.457

1901.966

1617.181

 

 

TOTAL                                     (B)

140144.133

119374.810

93886.667

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

2869.009

2114.746

1864.133

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

480.617

368.128

294.066

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

2388.392

1746.618

1570.067

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

53.718

34.103

21.281

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                 (G)           

2334.674

1712.515

1548.786

 

 

 

 

 

Less

TAX                                                                  (H)

796.461

538.233

513.964

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                    (I)

1538.213

1174.282

1034.822

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB value of exports

N.A

0.000

21.137

 

 

Sales - Overseas Branch

N.A

10648.919

5606.681

 

 

Rebate (Netted off against Cost of Sales)

N.A

393.261

368.811

 

 

IT Charges

N.A

145.465

75.239

 

TOTAL EARNINGS

N.A

11187.645

6071.868

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Traded Goods (Excluding import of Overseas Branch)

N.A

15139.302

20305.282

 

TOTAL IMPORTS

N.A

15139.302

35444.584

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

 

 

 

 

Basic

83.18

63.50

55.96

 

Diluted

76.01

63.50

55.96

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(1100.045)

(54.082)

1488.937

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.08

0.97

1.08

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

2.01

1.75

1.95

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.31

6.48

6.72

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.23

0.19

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.50

0.39

0.32

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

184.928

184.928

184.928

Reserves & Surplus

7450.327

8624.609

10162.822

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

7635.255

8809.537

10347.750

 

 

 

 

long-term borrowings

0.000

0.000

2892.610

Short term borrowings

2425.296

3456.668

2244.792

Total borrowings

2425.296

3456.668

5137.402

Debt/Equity ratio

0.318

0.392

0.496

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

95451.007

121093.502

142441.612

 

 

26.865

17.629

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

95451.007

121093.502

142441.612

Profit

1034.822

1174.282

1538.213

 

1.08%

0.97%

1.08%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

Notes:  The registered office of the company has been shifted from Gate No.1A, Godrej Industries Complex, Pirojshangar, Eastern Express Highway, Vikhroli (East), Mumbai – 400 079, Maharashtra, India to the present address w.e.f. 01.02.2012.

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

OPERATIONS

 

The Accounts for the year were considered by the Audit Committee at its meeting held on 14th August 2014 and the financial statements were forwarded to the board along with comments and recommendation. During the year, the Company achieved total turnover of Rs. 143,013.140 Million, and after providing for depreciation of Rs. 53.720 Million and Finance Cost of Rs. 480.620 Million, the Company earned a profit before tax of Rs. 2,334.67 0Million. After providing for Income Tax (Current tax of Rs. 820.000 Million and Deferred tax of (Rs. 23.540 Million), the Profit after tax stood at Rs. 1,538.210 Million.

 

CORPORATE INFORMATION:

 

Subject is engaged in the business of distribution of Information Technology hardware, software, mobility, networking and security products. The Company is a public limited company having it’s registered office in Mumbai with branches across the country and an overseas branch in Singapore.

 

FUTURE OUTLOOK:

 

The business and economic environment in the country continues to be a cause of some concern for our business. Manufacturing growth has slowed considerably and inflation and the current account deficit have adversely affected the Indian Rupee as well as the investment climate in the country.

 

The first half of this year has, therefore, seen subdued demand from Corporate, Enterprise and Govt. customers. However, post the election, we have seen a much more positive sentiment in corporate and enterprise and expect demand for the products distributed by the company to increase in the second half.

 

The consumer market has, however, demonstrated remarkable resilience and the demand for smartphones by consumer PCs continues to grow. This trend is further aided by the fact that the brands distributed by the company are gaining share in the market. We expect this demand to continue.

 

Unsecured Loans

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Fully convertible debentures others

2892.610

0.000

 

 

 

SHORT-TERM BORROWINGS

 

 

Working capital loans from banks

2244.792

3456.668

Total

5137.402

3456.668

 

FIXED ASSETS:

 

Tangible Assets

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

·         Leasehold Improvements

Intangible Assets

·         Goodwill

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 records 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 convictin 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.66.40

UK Pound

1

Rs.101.19

Euro

1

Rs.73.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

9

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILITY

1~10

9

--LIQUIDITY

1~10

9

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

81

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.