MIRA INFORM REPORT
|
Report Date : |
13TH June, 2006 |
IDENTIFICATION DETAILS
|
Name : |
CELETRON CIRCUITS DIVISION
OF CELETRONIX INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Unit No. 9, SDF 1, Seepz,
Andheri (East), Mumbai – 400 096, Maharashtra, India |
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Country : |
India |
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|
Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
20th January
1998 |
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|
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Com. Reg. No.: |
113090 |
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|
CIN No.: [Company Identification No.] |
U30007MH1998PTC113090 |
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|
TAN No.: [Tax Deduction & Collection Account No.] |
MUMC09925G |
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PAN No.: [Permanent Account No.] |
AAACT7548K |
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|
Legal Form : |
Private Limited liability company. |
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Line of Business : |
Designers, Manufacturers,
Assemblers, Importers, Exporters, Buyers, Sellers, Agents and Dealers of
Components and Peripherals of Mini & Micro Computer Systems including
detailed Components and sub assemblers thereof. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 550000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
This is a successful venture
of Tandons who are highly successful Non-Resident Indians. Settled in U.S.A. having
multi-national operations. Available information indicates high financial
responsibility of the company. Trade relations are fair. Financial position
is good. Payment are usually correct and as per commitments. The company can be
considered good for any normal business dealings. It can be considered as
dealings a promising business partners in a medium to long run. |
LOCATIONS
|
Registered Office |
Unit No. 9, SDF 1, Seepz,
Andheri (East), Mumbai – 400 096, Maharashtra, India |
|
Tel. No. |
91-22-28291919 |
|
Fax No. |
91-22-28291176 |
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E-Mail |
mltandon@celetron.com |
|
Website |
|
|
Area : |
Leased |
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|
|
Factory 1 : |
Unit No. 60, SDF – II,
Seepz, Andheri (East), Mumbai – 400 096, Maharashtra |
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Tel. No.: |
91-22-28291101/02/03/04/05 |
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Fax No.: |
91-22-28290242 |
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Area : |
3,00,000
+ sq.fts (Leased) |
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|
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Factory 2 : |
Pondicherry |
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Factory 3 : |
Chennai,
Tamilnadu – MEPZ |
DIRECTORS
|
Name |
Mr.
Manohar Lal Tandon |
|
Designation |
Executive
Chairman |
|
Address |
37,
Merry Niketan, Mount Mary Road, Bandra (West), Mumbai – 400 050 |
|
Date of Birth |
24.06.1939 |
|
Age |
65
Years |
|
Qualification |
M.
S. in Electrical Engineering, MBA |
|
Experience |
44
Years |
|
Date of Joining |
20.01.1998 |
|
Last Employment |
Ultra
Tek Devices Private Limited |
|
Profiles :- |
Mr.
M. L. Tandon, with M. S. in Electrical Engineering from Purdue University USA
and MBA from University of Santa Clara, USA, till 1978 was associated with
IBM and held various managerial positions with IBM, USA as well as India and
was instrumental in generating exports to other international IBM locations.
On winding up of the operations by IBM in India, he preferred to remain in
India and started a unit in Seepz in 1978 for the purpose of manufacturing
Ferrite Recording Heads for Floppy Disk Drives. Subsequently, various units
for manufacturing of different products were established by Mr. M. L. Tandon,
amongst them were the two partnership firms namely Tancom Electronics (Established
in the year 1982) and Advance Technology Devices (Established in the year
1986) for manufacture of Head Stack Assemblies (HAS), also known as
Winchester recording head. Booth these partnership firms were manufacturing
the same product and supplying it to the same customers. In order the
consolidate the HAS business in one unit and at the same time corporatism
its, the running business of these two partnership firms was sold to Tandon
Technology Private Limited (TTPL – Now known as CIPL), so as to face the
global competition effectively and gain
advantages of economies of scale Manny
Tandon is a pioneer in the electronic hardware exports from the Indian
sub-continent. Under his leadership, Tandon Magnetic, Tandon Motors and
Golden Systems Inc. have consistently ranked as the largest exporters of
electronic hardware from India. Manny has served Director of Golden Systems,
Inc. since 1993, when he was elected to Chairman of the Board. Since 1981,
Manny has served as the Chairman of Tandon Motors Private Limited and of
Eastern Peripherals Private Limited since 1982. From 1984 to 1993, Manny was
the Managing Director of Eastern Peripherals and Ultra Tek. From 1978 to
1988, he was the Chairman of Tandon Magnetic. Prior to 1978, Manny held
various managerial positions with IBM, India and was instrumental in
generating exports from India to all international IBM locations. He has been
the Chairman of the Electronics and Computer Software Export Council (ESC)
and the SantaCruz Electronics Export Manufacturer’s Association (SEEMA) and
has also served as the President of the Federation of Indian EPZS Industries
Association. |
|
|
|
|
Name |
Mr.
Bupendra V. Shah |
|
Designation |
Whole
Time Director |
|
Address |
26,
B/31, Takshila Mahakali Caves Road, Andheri (East), Mumbai – 400 093 |
|
Date of Birth |
03.03.1940 |
|
Age |
64
Years |
|
Qualification |
B.
Com., F. C. A. |
|
Experience |
39
Years |
|
Date of Joining |
25.08.1998 |
|
Last Employment |
Reliable
Consultancy Services Private Limited |
|
|
|
|
Name |
Mr.
Manek Lal K. Shah |
|
Designation |
Director
|
|
Address |
3,
Shanti Niketan, 218, Dixit Road, Vile Parle (East), Mumbai – 400 057 |
|
Date of Birth |
11.05.1933 |
|
Qualification |
B.
Com., F. C. A. |
|
Experience |
40
Years |
|
Date of Joining |
18.04.2001 |
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|
|
|
Name |
Mr.
Jawaharlal Tandon (American) |
|
Designation |
Director
|
|
Address |
22750,
La Quilla DR., Chatsworth, California – 91311 |
|
Date of Joining |
28.10.1949
(In casual vacancy on the place of Mr. K. K. Batta) |
|
Profile |
Jay
Tandon served as Chairman and Chief Executive Officer of Golden Systems,
which he founded in 1985. Subsequently renamed Cortech Systems, the Company
designed, manufactured and marketed switch mode power supplies. Mr. Tandon
also founded and served as CEO and President of Tandon associates from
December 1978 to July 1993 as well as Tantec, Inc. from March 1992 to August
1993. Both companies are involved in the manufacture and sale of components
for the disk drive industry. Prior to founding the above-mentioned companies,
Jay served in various capacities at Intel, Memorex and Amdahl. Jay graduated
from the University of Santa Clara with a Bachelor of Science in Electrical
Engineering. |
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|
|
|
Name |
Mr.
Bomy F. Dabhoiwala |
|
Designation |
Director
|
|
Address |
14-B,
Carter Road, Bandra, Mumbai – 400 050
|
|
Date of Birth |
02.12.1943 |
|
Date of Joining |
29.05.2001 |
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|
Name |
Mr.
Gyan Mishra |
|
Designation |
Director
(Head of Finance India Operations) |
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Other personnel
|
|
|
Mr. Umesh Thawani |
Company
Secretary |
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Management
|
|
|
Name |
Mr.
Krishan (Kris) Batta |
|
Designation |
Chief
Operating officer |
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|
|
|
Name |
Mr.
Harol J. Earley |
|
Designation |
Chief
Financial Officer |
|
Profile |
Harold
Earley is a CPA with over 17 years experience and joined Celetronix as the
Chief Financial Officer in May 2002. Prior to joining Celetronix, Harold was
the Senior Vice-President of Finance for Amkor Technology Inc, a world leader
in semiconductor packaging and testing. In his role with Amkor Technology,
Harold was responsible for the worldwide financial operations and dealt
extensively in M&A and capital market activities. He was also an integral
part of Amkor’s IPO in 1997 and subsequent raising of more than $3 billion in
public and private equity and debt. Harold is experienced in dealing with
international operations, tax, and accounting issues. From 1992 to 1997
Harold was a partner in the accounting firm Siana Carr & O’Connor focusing
on technology companies, and between 1985 and 1992. Harold worked for the
international accounting firm KPMG. Mr. Earley holds a Bachelor of Science in
Business Administration/Accounting from Drexel University. |
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|
|
|
Name |
Mr.
Hasib Khan |
|
Designation |
Vice
President, Customer Accounts |
|
Profile |
Hasib
Khan has 28 years of manufacturing, sales and customer support experience
with companies such as Astrologic, Space labs, the Tandon Corporation and
Tandon Associates. Hasib’s experience relates to the electronic parts supply
to the Bio-medical industry, with geographical expertise in East and
South-East Asia. Hasib also draws on a wealth of experience in material flow
and logistics for JIT deliveries to manufacturing plants and for finished
products to customer sites. Hasib earned his Bachelor of Science in
Electrical Engineering from the Northrop Institute of Technology. |
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|
|
Name |
Mr. Jim Schultz |
|
Designation |
Vice
President, EOS Power Division |
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|
|
|
Name |
Mr. Harish Grover |
|
Designation |
Vice
President, Memory Divison |
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|
|
|
Name |
Mr. Sandro Aquilina |
|
Designation |
Vice
President, Set Top Box Division |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No of Shares |
|
Celtron Mauritius Limited |
2,99,52,000 |
|
Local Shareholders |
200 |
|
Partners of Advance Tech
Devices |
15,00,000 |
|
Promoters of Tancom
Electronics |
17,50,000 |
|
Total |
3,32,02,200 |
BUSINESS DETAILS
|
Line of Business : |
Designers,
Manufacturers, Assemblers, Importers, Exporters, Buyers, Sellers, Agents and
Dealers of Components and Peripherals of Mini & Micro Computer Systems
including detailed Components and sub assemblers thereof. |
|
|
|
|
Products : |
Ø
Head
Stack Assembly Ø
Set
Top Boxes Ø
Memory
Modules Ø
Amplifiers Ø
Voice Coils Ø
RFID |
|
|
|
|
Exports to : |
USA, Canada, Europe,
Malaysia and far eastern countries. |
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|
|
|
Imports from : |
USA, China, Taiwan,
Korea, Singapore, Malaysia and Japan. |
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Terms : |
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Selling : |
Credit (60 days) terms |
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Purchasing : |
Cash or Credit (30
days) terms |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Head Stock & Sub
Assemblers |
Nos. |
10500000 |
5103970 |
|
Smart Card Coils |
Nos. |
12000000 |
1398558 |
|
Voice Coils for others |
Nos. |
18000000 |
10977242 |
|
Memory Modules &
other SMT Products:- |
|
|
|
|
Memory Modules |
Nos. |
NA |
1368459 |
|
FCBA |
Nos. |
NA |
-- |
|
Other SMS Products |
Nos. |
NA |
444.072 |
|
Total (Equivalent SMT Components) |
Nos. |
80631600 |
227419173 |
|
Other EMS Products |
Nos. |
25280700 |
14804167 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and OEM’s. |
|
|
|
|
No. of Employees : |
4,123 |
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|
|
|
Bankers : |
Ø
State
Bank of India Seepz Branch, Andheri
(East), Mumbai – 400 096, Maharashtra (The company enjoys
credit limits facility of Fund based Rs. 127.500 millions and Non Fund based
facility of Rs. 52.500 millions from its’ bankers) Ø
The
United Western Bank Limited Overseas Branch, 121,
Mittal Court, ‘C’ Wing, Nariman Point, Mumbai – 400 001, Maharashtra (The company availed
Loan facility worth Rs. 150.000 millions dated 09.02.2002 hypothecated
against Tangible Movable Properties & Assets and all the Present &
Future book debts from its banker) Ø
The
United Western Bank Limited Overseas Branch,
Nariman Point, Mumbai – 400 021 (The company availed
Loan facility for Rs. 10.500 millions dated 28.09.2001 hypothecated against
Good, Machinery and Vehicles from its banker) |
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|
|
|
Facilities : |
SECURED LOANS : Working Capital Loans from
Banks in 31.03.2004 Rs.115.970 and 31.03.2003 Rs.177.400 Add:- Interest accrued and
due Rs. 0.202 (31.03.2003) Term Loans from Financial
Institutions Rs.98.004 (Repayable within a year,
Rs. Nil, Previous year Rs. 53.556 millions) Vehicle Loans Rs.12.628 in
the year 31.03.2004 and Rs 5.934
in the year 31.03.2003 (Repayable within a year
Rs. 5.720 millions, previous year Rs. 3.803 millions) Notes :- Secured by (a)
hypothecation on inventories, book debts, other receivables, all movable
plant and machinery, machinery spares, tools and accessories and other
movables of the company, subject to prior charges, as applicable in favors of
financial institutions referred to Note 2 below, (b) a lien over the
company’s fixed deposits and (c) guarantees by a director and foreign
corporate entities. Secured by (a)
hypothecation of all moveable properties, including moveable plant and
machinery, machinery spares, tools and accessories, and other moveable,
present and future, subject to prior charges on inventories, book debts, other
receivables in favors of banks referred to in Note 1 above, and (c) by a
collateral security by way of deposit of title deeds in respect of immovable
properties belonging to a director and a member of the company. Security by hypothecation
of vehicles acquired out of the loan funds. UNSECURED LOANS 31.03.2004 Loan from Advance
Technology Devices-149.483- Add :- Interest accrued and
due-16.513 Total -165.996 -31.03.2003 Loan from Advance
Technology Devices 149.483 Add :- Interest accrued and
due-2.741 Total -152.224 |
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
Price Waterhouse Chartered Accountants |
|
Address .: |
Nariman Point, Mumbai – 400
021, Maharashtra |
|
|
|
|
Holding Company : |
Celetron Mauritius Limited Celetron International
Limited, Bermuda |
|
Associates : |
Ø
Celetron Power India
Private Limited Unit # 72, Seepz Sez,
Andheri (East), Mumbai – 400 096,
Maharashtra --Manufacturer and Exporter
of SMPS units Ø
Tantec Magnetics Inc Ø
Tandon Associates Inc Ø
Tandon Associates
Limited Ø
Celetron Singapore
Private Limited Ø
80, Marine Parade
Road, 10-06 Parkway Parade,
Singapore – 449269 Tel. No. : 65841-3201 Fax : 65-348-1577 Ø
Fair play Group Inc Ø
Advance Technology
Devices (Partnership Firm) Ø
Tancom Electronics
(Partnership Firm) Ø
Eastern Peripherals
Private Limited Ø
Radical Consultancy
Services Private Limited Ø
Reliable Consultancy
Services Private Limited Ø
Tandon Magnetic (India) Private Limited Ø
Tandon Information
Solutions Limited Ø
Tandon Motors Private
Limited Ø
Tandon computes
(India) Private Limited Ø
Tandon Date Systems
Services Ø
Golden Computers
Limited Ø
Pen tax Engineering
Private Limited Ø
Celetron (Europe)
Limited Unit 30-Greenlands Business
Centre Studey Road, Redditch, B98 7HD, United Kingdom. Tel. No. : 9482234567 Fax. No. : 9482420221 Ø
NSC Campus, Mahon
Cork, Ireland Tel. No. : 353-21-480-6626 Fax. No. : 353-21-480-6627 Ø
Celetron USA Inc,
2125-B Madera Road, Simi Valley, CA-93065 Tel. No. : 1805-955-3600 Fax. No. : 1805-582-4431 Ø
Northern Calif., 303
Twin Dolphin Dr., 6th Floor, Redwood City, CA – 94065 Tel. No. : 650-632-4652 Fax. No. : 650-377-4141 Ø
Celetron Malaysia Sdn.
Bnd 33, Jalan PJS, 11/24 Banar
Sunway, 46150 Petaling Jaya, Selango Darul, Ehsan, Malaysia Tel. No. : 603-5632-4607 Fax. No. : 603-5632-4503 Ø
Celetronix Lanka
Private Limited Kandy Industrial Park,
Pallekelle, Sri Lanka – 096 Tel. No. : 91-22-28291919 Fax. No. : 91-22-28291746 Ø
Celetron Acquisition
Corporation Ø
EOS Corporation Ø
GPS Sales &
Services Pte Ø
Memory 2 Memory
Singapore Pte Limited Ø
Memory Electronics
Private Limited |
|
Subsidiary : |
Celebit Technology Private
Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30,000,000 |
Equity
Shares |
Rs.10/- |
300.000 millions |
|
3,300,000 |
1%
of Redeemable Preference Share |
Rs. 100/- |
330.000 millions |
|
|
Total |
|
630.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29,952,200 |
Equity
Shares |
Rs.10/- |
299.522 millions |
|
3,250,000 |
1%
of Redeemable Preference Share |
Rs. 100/- |
325.000 millions |
|
|
Total |
|
624.522 millions |
|
|
|
|
|
FINANCIAL
DATA
[all figures are in Rupees Millions]
Enclosed
are last available financials from Public Records. We are trying for latest
financials and a will be sent as soon as available.
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1]
Share Capital |
624.522 |
624.522 |
624.522 |
|
2]
Reserves & Surplus |
652.234 |
559.592 |
556.251 |
|
NETWORTH |
1276.756 |
1184.114 |
1180.773 |
|
|
|
|
|
|
LOAN
FUNDS |
|
|
|
|
1]
Secured Loans |
128.598 |
501.524 |
621.435 |
|
2]
Unsecured Loans |
165.996 |
152.224 |
149.483 |
|
TOTAL BORROWING |
294.594 |
653.748 |
770.918 |
|
|
|
|
|
|
Deferred
Tax Liabilities |
71.554 |
0.000 |
0.000 |
|
|
|
|
|
|
GRAND TOTAL |
1642.904 |
1837.862 |
1951.691 |
|
|
|
|
|
|
APPLICATION
OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED
ASSETS [Net Block] |
788.043 |
721.741 |
724.549 |
|
Capital
work-in-progress |
61.219 |
7.021 |
8.155 |
|
|
|
|
|
|
INVESTMENTS |
15.150 |
15.105 |
0.105 |
|
|
|
|
|
|
CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
777.394 |
396.419 |
386.480 |
|
Sundry
Debtors |
4683.548 |
2005.119 |
2618.763 |
|
Cash
& Bank Balances |
115.753 |
97.371 |
214.219 |
|
Other
Current Assets |
12.757 |
7.664 |
-- |
|
Loans
& Advances |
55.817 |
39.629 |
52.515 |
|
Total Current
Assets |
5645.269 |
2546.202 |
3271.977 |
|
Less
: |
|
|
|
|
Current
Liabilities |
4799.459 |
1443.476 |
1995.343 |
|
Provisions |
67.318 |
8.731 |
57.752 |
|
Total Current Liabilities |
4866.777 |
1452.207 |
2053.095 |
|
Net Current
Assets |
778.492 |
1093.995 |
1218.882 |
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
-- |
-- |
-- |
|
|
|
|
|
|
GRAND TOTAL |
1642.904 |
1837.862 |
1951.691 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
Sales Turnover |
8018.645 |
3456.433 |
10391.901 |
|
[including other income] |
|
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
219.999 |
(36.489) |
387.343 |
|
Provision for Taxation |
127.357 |
(41.562) |
33.000 |
|
Profit/(Loss) After Tax |
92.642 |
5.073 |
354.343 |
|
|
|
|
|
|
Export
Value |
8272.385 |
3461.556 |
10014.928 |
|
|
|
|
|
|
Import
Value |
7829.853 |
3085.245 |
9591.929 |
|
|
|
|
|
|
Total
Expenditure |
7798.646 |
3492.922 |
10102.612 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
31.03.2002 |
PAT / Total Income
|
(%)
|
1.155
|
0.146 |
3.409 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
2.743
|
1.055 |
3.727 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
2.313
|
1.109 |
9.672 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.173
|
0.030 |
0.328 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
4.042
|
1.778 |
2.391 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
1.159
|
1.7533 |
1.593 |
LOCAL AGENCY FURTHER INFORMATION
Performance
During the year under report,
has been able to achieve the turnover projected in the last report. The company
has achieved a turnover of Rs. 8010.600 millions as against Rs. 3435.100
millions achieved during the previous year. The profit before tax during the
year under report amounted to Rs. 220.000 millions as against loss of Rs.
36.500 millions during the previous year. The net profit after making provision
for taxation for the year (Rs. 7.200 millions), deferred taxation (Rs. 71.500
millions) as well as provision for taxation for previous years (Rs. 48.700
millions) amounted to Rs. 92.600 millions as against Net Profit of Rs. 5.000
millions for the previous year, after taking into account the excess provision
for taxation for earlier years (Rs. 21.600 millions) and deferred taxation (Rs.
20.000 millions) written back.
The increase in the turnover
of the company for the year under report is due to renewal of business with
Western Digital Corporation (WDC), one of the major customers of the company,
for supply of Head Stacks. Additionally, the other manufactured products like
Memory Modules, Set Top Boxes and EMS activity for all prominent customers had
also shown the upward trend in the business.
Celetronix Technology – a
division of company situated at Pondicherry commenced production from November
2003 and had been supplying its products to established domestic customers. The
sales of this division during the year under report amounted to Rs. 42.500
millions and during the first seven months of the current year amounted to Rs.
82.000 millions.
Current
year results
The company has achieved a
turnover of Rs. 4800.000 millions during the first seven months of the current
year as against the turnover of Rs. 3800.000 millions in the corresponding
period of the previous year. As per the arrangements earlier entered into, the
company has been qualified to supply complete set top boxes from Company’s
facilities in India and is in the midst of ramping up the production to
increase the turnover substantially. On the other hand, as per mutual
agreement, the arrangement with Western Digital Corporation for manufacture and
supply of Head Stack Assemblies came to an end on 30th September
2004. The companies are however, confident that the shortfall of Head Stack
business will be made good by increase in the turnover of Set Top Boxes and
Memory Products. The companies are hopeful of maintaining a level of turnover
achieved by the company during 2003-04.
The company is also actively
working with various customers for EMS work. Some of the business has already
materialized. The company has decided to execute such new business from a new
unit established at MEPZ-SEZ for which company had already obtained new Letter
of Permission and purchased a building in MEPZ. It was expected to go into
production shortly.
The Voice Coil operations of
company were carried at two places. i.e., some parts at NEPZ-SEZ, Noida and
rest at MEPZ-SEZ, Chennai and both the units were comparatively smaller in
size. In order to achieve economies of scale and due to various logistical
reasons, the company decided to concentrate operations at one place and
therefore transferred the entire activity of NEPZ-SEZ, Noida unit to MEPZ-SEZ,
Chennai.
Change of
name
The company has been changed
from ‘Celetron India Private Limited’ to ‘Celetronix India Private Limited’
with effect from 6th April, 2004, vide fresh certificate
incorporation consequent on change of name, issued by the Registrar of
companies, Mumbai, Maharashtra.
It imports Head Gimble
Assembly and Various Electronic Components.
It exports Head Stack Head
Stack Assembly, Set Top Boxes, Memory Modules, Amplifiers, Voice Coils and
RFID.
It is in trade terms with :-
·
Western Digital,
Malaysia
·
Micron/Spectech, USA
·
Celetron USA Inc
·
Echo Star, USA
·
ST Micro Electronics
Asia, Singapore
·
Yatfung Technologies,
China
·
LG Innotek Company
Limited, Korea
Quality
The company’s production
facilities are already ISO 9001:2000 certified and they are working for
implementing the Environment management system that is the ISO 14001:1996
certification.
Profile
As a leading Electronic
Manufacturing Service (EMS) provider, Celetronix has been delivering solutions
to the needs of their OEM customers. For the past two decades, Celetronix has
lived by one promise – provide value to customers in all aspects of their
business by maintaining a focus on cost, quality and flexibility.
By leveraging its ISO 9001
certified global facilities, it enable customers in emerging technology markets
to focus on their core competency of technology development and marketing while
it supports the entire product lifecycle – from design to after – market
services.
Realizing the significant cost
and quality advantages of South Asia based manufacturing operations, Celetronix
partners with customers to deliver manufacturing solutions that involve High
Touch, High Engineering and High Technology content. Celetronix’s Indian
sub-continent based manufacturing operations offer some critical advantages:
areas of expertise include a number of
patented technologies developed at Celetronix. These focus areas include the
following :
- India offers access to an educated English
speaking workforce.
- The most competitive labour wages in the world.
- Abundant and affordable engineering talent from
world-class institute.
Company’s areas of expertise
include a number of patented technologies developed at Celetronix. These focus
areas include the following :
- EMS Services – PCA, PCB, flex circuits and
chip-on-board.
- EOS Power – Cost effective power conversion
solutions and sub-systems
- RFID – Design and manufacture of Radio Frequency
identification solutions for a broad range of applications
- Memory – Low cost memory solutions for OEM
- OMS – Optical component assembly
The company’s fixed assets of
important value include Building, Plant & Machinery, Furniture &
Fixtures, Office Equipments and Vehicles.
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 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 45.98 |
|
UK
Pound |
1 |
Rs. 84.54 |
|
Euro |
1 |
Rs. 57.82 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |