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%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
500716 |
|
Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
TECH DATA ADVANCED SOLUTIONS (INDIA) PRIVATE
LIMITED (w.e.f. 01.09.2017) |
|
|
|
|
Formerly Known
As : |
AVNET TECHNOLOGY SOLUTIONS (INDIA) PRIVATE LIMITED (w.e.f. 18.05.2009) ONTRACK SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-301, 3rd Floor, Supreme Business Park, Behind Lake
Castle, Hiranandani Garden, Powai, Mumbai - 400076, Maharashtra |
|
Tel. No.: |
91-22-44200200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089798 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 18.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1995PTC089798 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0393076156 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3686M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is company is primarily engaged in the business of trading and providing maintenance service of information technology products. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “M/s TS Divest Co B.V, Netherland” and was incorporated in the year 1995. It is an old and established company having good track record. It is a step down subsidiary of Tech Data Corporation, which is currently ranked 107 with fortune 500 companies. In February 2017, Tech Data acquired the technology solutions business of “Avnet Inc” to broaden its product offerings and enter the Asian markets where technology solutions have a strong demand. Since then, company has been receiving financial support from Tech Data. Tech Data will continue to extend operational and financial support to the company. For the financial year 2017, the company has healthy increased in its revenue from operations as compared to previous year and maintained minimal profitability margin of 0.93%. Rating takes into consideration sound financial profile of the company marked by healthy networth base. Further, the company also derives strength from its strong holding company support, growing presence in the domestic IT network and storage systems segment as well as established track record of business operations. However, rating strengths is partially offset by huge borrowings recorded, low profitability margins and working capital-intensive distribution business. Trade relations are fair. Business is active. Payment terms are seems to be regular. In view of aforesaid, the company can be considered good for
normal 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low
Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High
Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
19.07.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
19.07.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction)
LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 31.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.:
91-22-44200200
LOCATIONS
|
Registered Office / Branch Office 1 : |
A-301, 3rd Floor, Supreme Business Park, Behind Lake
Castle, Hiranandani Garden, Powai, Mumbai - 400076, Maharashtra, India |
|
Tel. No.: |
91-22-44200200 |
|
Fax No.: |
91-22-44200201 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices 2: |
Appejay Business Centre, 8th Floor, Suite No-9, Appejay House, Block -
A, 15 Park Street, Kolkata - 700016, West Bengal, India |
|
Tel. No.: |
91-33-40646528 |
|
Fax No.: |
91-33-40646528 |
|
|
|
|
Branch Offices 3: |
Regus 101-104 (Office Number), GCP Business Center, B-wing First
Floor, Opposite Memnagar Fire Station, Vijay Cross Road, Ahmedabad - 380014,
Gujarat, India |
|
Tel. No.: |
91-79- 61344667 / 68 / 69 |
|
|
|
|
Branch Offices 4: |
Regus Platinum Centre, Level 8, Suyog Platinum Towers, 1 Naylor
Road, Off Mangaldas Road, Near Oakwood , Residence, Bundgarden, Pune -
411 001, Maharashtra, India |
|
Tel. No.: |
91-20-66487614/15/16/17 |
|
|
|
|
Branch Offices 5: |
#10 Museum Road 'Pride Elite, 2nd Floor Bangalore – 560001, Karnataka,
India |
|
Tel. No.: |
91-80-44200 200 |
|
|
|
|
Branch Offices 6: |
Unit No. 507, 5th Floor, Raheja Towers, 177 Anna Salai, Chennai -
600002, Tamilnadu, India |
|
Tel. No.: |
91-44-42109578 |
|
|
|
|
Branch Offices 7: |
Regus Mid Town, Office No. 120, 1st Floor, Mid Town Plaza,, Road No.
1, Banjara Hills, Hyderabad – 500033, Telangana, India |
|
Tel. No.: |
91-40-44334076 / 77 / 85 |
|
|
|
|
Branch Offices 8: |
Unit No 724, 7th Floor, DLF Tower A , Jasola, New Delhi
- 110025 , India |
|
Tel. No.: |
91-11- 44200200 |
|
Fax No.: |
91-11-44200201 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sundaresan Kannappan |
|
Designation : |
Additional Director |
|
Address : |
No. E-011, E Block, DLF Commander’s Court, No. 49,
Ethiraj Salai, Egmore Chennai – 600008, Tamilnadu, India |
|
Date of Appointment : |
01.11.2017 |
|
DIN No.: |
07886344 |
|
|
|
|
Name : |
Mr. Radhakrishnan Vaidyanathan |
|
Designation : |
Director |
|
Address : |
370D, Alexandra Road, #02-09, 159957, Singapore |
|
Date of Birth/Age : |
27.09.1962 |
|
Date of Appointment : |
23.02.2015 |
|
PAN No.: |
ABDPR6087Q |
|
DIN No.: |
07004306 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
TS Divest Co. B.V. |
|
499999 |
|
Naresh Ambelal Desai |
|
1 |
|
Total |
|
500000 |
|
Names of
Shareholders (0.01% Compulsory Convertible Preference Shares) |
|
No. of Shares |
|
Technology Solutions (Singapore) Pte. Limited, Singapore |
|
130000 |
|
Total |
|
130000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image008.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is company is primarily engaged in the business of trading and providing maintenance service of information technology products. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Co. LLP Chartered Accountants |
|
Address : |
16th
Floor Tower II, India bulls Finance Centre, S. B. Marg, Elphinstone (West),
Mumbai-400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Ultimate Holding Company: |
|
|
|
|
|
Associate |
|
|
|
|
|
Fellow Subsidiary Company: |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 10/- each |
INR 5.000 Million |
|
130000 |
Preference Shares |
INR 100/- each |
INR 13.000 Million |
|
|
|
|
INR 18.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 10/- each |
INR 5.000
Million |
|
130000 |
Preference Shares |
INR 100/- each |
INR 13.000 Million |
|
|
|
|
INR 18.000
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
18.000 |
15.508 |
2.508 |
|
(b) Reserves and Surplus |
331.404 |
107.498 |
(1004.509) |
|
(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) |
349.404 |
123.006 |
(1002.001) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
4.198 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.383 |
1.594 |
1.232 |
|
Total Non-current
Liabilities (3) |
6.383 |
1.594 |
5.430 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
3534.797 |
2741.471 |
2736.585 |
|
(b) Trade
payables |
2177.759 |
1017.865 |
1865.332 |
|
(c) Other
current liabilities |
290.942 |
264.029 |
358.904 |
|
(d) Short-term
provisions |
0.643 |
3.724 |
1.734 |
|
Total Current
Liabilities (4) |
6004.141 |
4027.089 |
4962.555 |
|
|
|
|
|
|
TOTAL |
6359.928 |
4151.689 |
3965.984 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
22.682 |
36.527 |
42.187 |
|
(ii)
Intangible Assets |
75.523 |
0.009 |
0.016 |
|
(iii) Tangible assets
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 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
704.258 |
686.140 |
523.705 |
|
(e) Other
Non-current assets |
0.028 |
0.027 |
0.025 |
|
Total Non-Current
Assets |
802.491 |
722.703 |
565.933 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
285.858 |
435.088 |
393.002 |
|
(c) Trade
receivables |
5182.573 |
2907.596 |
2904.655 |
|
(d) Cash and
bank balances |
0.471 |
1.255 |
2.641 |
|
(e)
Short-term loans and advances |
88.535 |
85.047 |
99.753 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
5557.437 |
3428.986 |
3400.051 |
|
|
|
|
|
|
TOTAL |
6359.928 |
4151.689 |
3965.984 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
13253.617 |
9339.406 |
9084.120 |
|
|
Other Income |
224.364 |
123.257 |
122.298 |
|
|
TOTAL |
13477.981 |
9462.663 |
9206.418 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
12321.518 |
8809.196 |
8690.995 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
149.230 |
(42.086) |
(58.809) |
|
|
Employee benefit expense |
228.617 |
215.231 |
199.168 |
|
|
Other expenses |
382.637 |
408.924 |
253.697 |
|
|
Prior period items before tax |
1.541 |
0.000 |
(1.421) |
|
|
TOTAL |
13083.543 |
9391.265 |
9083.630 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
394.438 |
71.398 |
122.788 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
235.447 |
227.584 |
231.843 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
158.991 |
(156.186) |
(109.055) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.681 |
23.006 |
25.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
139.310 |
(179.192) |
(134.055) |
|
|
|
|
|
|
|
Less |
TAX |
15.909 |
(4.198) |
(4.519) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
123.401 |
(174.994) |
(129.536) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(1182.383) |
(1005.389) |
(875.853) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(1058.982) |
(1182.383) |
(1005.389) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4.278 |
24.480 |
59.640 |
|
|
TOTAL EARNINGS |
4.278 |
24.480 |
59.640 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
5590.550 |
3703.594 |
2955.840 |
|
|
Capital Goods |
0.000 |
0.000 |
8.136 |
|
|
TOTAL IMPORTS |
5590.550 |
3703.594 |
2963.976 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
420.06 |
(697.88) |
(516.59) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(507.190) |
(770.550) |
(196.672) |
|
Net cash flows from (used in) operating activities |
(576.993) |
(899.619) |
(208.138) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
142.73 |
113.63 |
116.71 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.56 |
3.21 |
3.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
64.51 |
42.17 |
78.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.38 |
0.16 |
0.31 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
4.02 |
1.95 |
2.91 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.94 |
0.97 |
1.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
10.12 |
22.29 |
(2.73) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
17.18 |
32.74 |
(4.95) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.28 |
0.30 |
(0.04) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.68 |
0.31 |
0.53 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.93 |
(1.87) |
(1.43) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.94 |
(4.22) |
(3.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
35.32 |
(142.26) |
12.93 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.93 |
0.85 |
0.69 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.88 |
0.74 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.05 |
0.03 |
(0.25) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
196.38 |
176.78 |
1091.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.93 |
0.85 |
0.69 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
2.508 |
15.508 |
18.000 |
|
Reserves & Surplus |
(1004.509) |
107.498 |
331.404 |
|
Net
worth |
(1002.001) |
123.006 |
349.404 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2736.585 |
2741.469 |
3534.797 |
|
Total
borrowings |
2736.585 |
2741.469 |
3534.797 |
|
Debt/Equity
ratio |
(2.731) |
22.287 |
10.117 |
%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image010.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9084.120 |
9339.406 |
13253.617 |
|
|
0.000 |
2.810 |
41.911 |
%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image012.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9084.120 |
9339.406 |
13253.617 |
|
Profit/ (Loss) |
(129.536) |
(174.994) |
123.401 |
|
|
(1.43
%) |
(1.87
%) |
0.93
% |
%20PRIVATE%20LIMITED%20-%20500716%2031-Mar-2018_files/image014.gif)
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 |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered office of the company has been shifted from D/4131-39, Oberoi Garden Estate Off Saki Vihar Road, Chandivli, Andheri (East), Mumbai-400072, Maharashtra, India to the present address w.e.f. 16.05.2012
BACKGROUND OF THE
COMPANY
Subject (formerly known as Avnet Technology Solutions (India) Private Limited) (the “Company”) was originally incorporated as Ontrack Solutions Private Limited on 21 June 1995. In 2008-09, the Company became a 100% subsidiary of Avnet India Private Limited and subsequently changed its name to Avnet Technology Solutions (India) Private Limited, effective 18 May 2009.
On 17 February 2017, TS Divest Co B.V. has acquired the Company. The Ultimate Holding Company is Techdata Corporation, USA.
The Company has its registered office in Mumbai. The Company is primarily engaged in the business of trading and providing maintenance service of information technology products.
REVIEW OF OPERATIONS
The Company has achieved a total income of INR 13477.980 Million for the year ended March 31, 2017 as against INR 9462.663 Million achieved during the previous year ended March 31, 2016. The Net Profit of the Company stood at INR 123.401 Million for the year ended March 31, 2017as against Net Loss of INR (174.993 Million) for the previous year.
The Board of Directors is confident of achieving better results in the forthcoming year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
0.000 |
84.403 |
|
|
|
|
|
Total |
0.000 |
84.403 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
A59368852 |
90157496 |
29/05/2000 |
- |
26/03/2009 |
507134.0 |
NETWORK SERVICE CENTRESUDAM KALU AHIRE MARG ; WOERLIMUMBAIMH400025IN |
|
|
2 |
A55099055 |
10086006 |
23/04/2007 |
15/02/2008 |
31/12/2008 |
43500000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
|
3 |
A40295826 |
90159831 |
02/07/1999 |
- |
03/06/2008 |
4000000.0 |
ANDHERI BRANCH ;RAJA MARKET CO-OP. SOCIETYNEW NAGARDAS ROADMUMBAIMH400069IN |
|
|
4 |
A30651319 |
80040850 |
08/03/2006 |
- |
27/12/2007 |
15000000.0 |
NAIK WADI,AAREY ROADGOREGAONMUMBAIMH400063IN |
|
|
5 |
A29052461 |
90159929 |
27/05/2000 |
- |
30/11/2007 |
22000000.0 |
BANDRA CURLA COMPLEXG-BLOCK ; BANDRAMUMBAIMH400051IN |
|
|
6 |
Y10259355 |
90159585 |
27/02/1997 |
- |
22/01/2001 |
1000000.0 |
CENTRAL ADMINSTRATIVE OFFICEAPSARA CINEMA BUILDING;IIND FLOOR ; GRANT ROADMUMBAIMH400007IN |
|
|
7 |
Y10258633 |
90158863 |
05/03/1998 |
- |
22/01/2001 |
3000000.0 |
CENTRAL ADMINSTRATIVE OFFICEAPSARA CINEMA BUILDING;IIND FLOOR ; GRANT ROADMUMBAIMH400007IN |
|
|
8 |
Y10259459 |
90159689 |
05/03/1998 |
02/07/1999 |
22/01/2001 |
3000000.0 |
ANDHERI BRANCH ;RAJA MARKET CO-OP. SOCIETYNEW NAGARDAS ROADMUMBAIMH400069IN |
|
|
9 |
Y10258568 |
90158798 |
23/04/1997 |
- |
22/01/2001 |
1038000.0 |
CENTRAL ADMINSTRATIVE OFFICEAPSARA CINEMA BUILDING;IIND FLOOR ; GRANT ROADMUMBAIMH400007IN |
|
|
10 |
Y10259478 |
90159708 |
23/04/1998 |
- |
22/01/2001 |
196000.0 |
CENTRAL ADMINSTRATIVE OFFICEAPSARA CINEMA BUILDING;IIND FLOOR ; GRANT ROADMUMBAIMH400007IN |
FIXED ASSETS
Tangible assets
- Furniture and fixtures
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Goodwill
- 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 records 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 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
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.