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Attachment 1
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Report
Update On |
21st July, 2000 |
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Report on |
ARRAYCOM (INDIA) LIMITED |
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Formerly Known As |
PAREKH MICRO ELECTRONICS (INDIA)
LIMITED |
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Registered Office |
Jyoti Refinery, M. Vasanji Road, Sakinaka, Andheri (East), Mumbai,
INDIA |
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Tel. No. |
91-22-859 2811 / 859 2812 / 859 2813 |
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Fax No. |
-- |
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E-Mail |
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Telex |
-- |
Attachment 2
SUMMARY
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Incorporated |
1992 |
Status |
Good |
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Registration No. |
67293 |
Chief Executive |
Mr. Atul J. Parekh |
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Capital (Rs.) |
100.000 millions |
Payments |
Regular |
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Sales (Rs.) |
237.865 millions |
Litigation |
-- |
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Net Worth (Rs.) |
316.122 millions |
Banking Reputation |
Good |
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No. of Employees |
180 |
Auditors |
J. T. Shah & Associates |
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Credit Rating |
Ba (See attachment 3) |
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INDUSTRY
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HEAD OFFICE / FACTORY
Plot No. B-13, 13/1,
14, GIDC Electronics Estate, Sector 25, Gandhinagar – 382 044, Gujarat, INDIA
Tel. No. 91-2712-29011 / 29012 / 29013 / 33195
Fax No. 91-2712-29014
BRANCH
M-95, Greater Kailash Part II, Rear Entry, Lower Ground Floor, New Delhi – 110 048, INDIA
Tel. No. 91-11-648 6785 / 647 4047
Fax No. 91-11-646 1888
HISTORY
The company was incorporated on 18th June, 1992 at Mumbai in Maharashtra having Company Registration Number 67293 under the name & style of PAREKH MICRO ELECTRONICS (INDIA) LIMITED.
The name of the company was recently changed to present.
LEGAL FORM
It is a Closely Held Public Limited Liability Company.
DIRECTORS
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Mr. Jaisukhlal J. Parekh |
Chairman |
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Mr. Atul J. Parekh |
Managing Director |
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Mr. C. M. Thirumurthy |
Deputy Managing Director |
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Mrs. Gori A. Parekh |
Executive Director |
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Mr. R. S. Shah |
Director |
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Mr. A. A. Khan |
Director |
PARTICULARS OF CHIEF EXECUTIVE
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Name |
Mr. Atul J. Parekh |
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Designation |
Managing Director |
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Age |
36 years |
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Qualification |
Bachelor of Science, Metallurgical Engineering, USA |
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Experience |
9 years |
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Previous Employment |
Parekh Platinum Limited (Technical Director) |
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Name |
Mrs. Gori A. Parekh |
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Designation |
Executive Director |
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Age |
34 years |
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Qualification |
M. A., D.B.M. |
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Experience |
4 years |
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Previous Employment |
First Employment |
BUSINESS
The company is engaged in manufacturing of Thick Film Material and Resistor Network.
Generic Names of the Principal Products of the Company are as under:
1. Modern
2. Precious Metals
3. Register Network/Dlode/Cr in Arrays Form
4. Silver Bars
5. Thick Film Materials
Subject sells Modems under it’s brand name “ONLINE” for the computer and other users through it’s branch network.
The company has also taken up distributorship in India for the Two-Way Radios manufactured by ICOM Corporation, Japan. The product is other agencies have placed orders for two-way radios. The company also finalised tie up arrangements as Marketing and Customer Support agent with Videsh Sanchar Nigam Limited (VSNL) for offering Internet and Hosting of Home Pages on WORLD WIDE WEB (www) connections in Metros.
The company imports its’ requirements from Europe.
Subject exports its’ products to Europe, Far East and USA.
The company is in the process of taking over the state owned GCEL (Gujarat Communication and Electronics Limited). For this purpose the company has changed its name and other procedures are under progress.
The company’s fixed assets of important value include leasehold land, owned factory building, plant & machinery, electrical installation, computer, office equipment, furniture & fixtures and vehicles.
Subject employs 180 persons in different set up.
ASSOCIATES
K Parekh Platinum Limited
BANKERS
K State Bank of India, GIDC Branch, Gandhinagar, Gujarat, India
AUDITORS
K J. T. Shah & Associates
Chartered Accountants
FINANCIAL INFORMATION
The company's latest financial information for the period ended 31st March, 1999 is enclosed herewith.
CAPITAL STRUCTURE
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Authorised Capital : |
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Not Available |
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Issued, Subscribed &
Paid-up Capital : |
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Rs. 100.000 millions |
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COMMENTS
Subject is 8 years old company having satisfactory track records. Directors are reported as experienced and respectable industrialists. Their trade relations are fair. Payments are reported as usually correct and as per commitments.
Your proposed business dealings of EURO 50,000 can be considered against D/A or D/P terms.
ABRIDGED BALANCE SHEET AS ON 31ST March, 1999
[figures are in Rupees Millions]
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SOURCES OF FUNDS |
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31.03.1999 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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100.000 |
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2] Reserves & Surplus |
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216.122 |
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LOAN FUNDS |
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1] Secured Loans |
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277.913 |
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2] Unsecured Loans |
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0.007 |
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GRAND TOTAL
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594.042 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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547.470 |
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INVESTMENTS |
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0.188 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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46.031 |
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Total Current Assets |
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Less : |
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Current Liabilities |
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Provisions |
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Net Current Assets |
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46.031 |
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MISCELLANEOUS EXPENSES |
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0.353 |
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GRAND TOTAL
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46.572 |
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IMPORTANT FINANCIAL INFORMATION
[figures are in Rupees Millions]
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PARTICULARS |
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31.03.1999 |
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Sales Turnover |
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237.865 |
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[including other income] |
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Profit/(Loss) Before Tax |
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41.746 |
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Provision for Taxation |
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4.500 |
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Profit/(Loss) After Tax |
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37.246 |
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Dividend |
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12.000 |
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Total Expenditure
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156.115 |
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an
extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. Maybe drawn to
slightly difficult position as unfavourable conditions arise. Minimal assurance
for timely payment on interest and principal sums |
Moderate |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively limited or considered
not known. Capability to pay both interest and principal sums is doubtful |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |
Attachment 4
INDIA
INDIA, a Union of States, is a Sovereign Socialist Secular Democratic Republic with a Parliamentary System of government. It covers an area of 32872631 sq. km. Population, as on 1st March, 1991 (last counted) stood at 846.30 millions.
The value of total foreign trade increased to Rs.2,778,392.8 millions in 1997-98. During 1997-98, it’s total exports amounted to Rs.1,262,857.6 millions and imports increased to Rs.1,515,535.2 millions.
As on 20th April, 1999, Standard and Poor’s affirmed its ratings for India and said the country’s outlook was stable despite weak coalition governments. S&P affirmed its BB foreign currency and the BBB local currency ratings for India. The B foreign currency and A3 local currency short-term issuer credit ratings were also affirmed. The outlook is stable. Official foreign exchange reserves cover about 165 percent of total government, public sector and private sector external principal-repayment obligations due within the next 12 months. At $32.6 billion as on April 7, 1999, they mitigate the risk of a sudden loss of external confidence even as exports decelerate and the trade gap widens, the agency said.
LEADING EONOMIC INDICATORS
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Outstanding As On |
% Variation Over |
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Banking, M3 & Forex (Rs. mlns.) |
Feb. 26, 1999 |
End-March 1998 |
Financial Year So Far |
Year Ago |
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1997-98 |
1998-99 |
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Aggregate Deposits |
6,983,380 |
6,054,100 |
15.3 |
15.3 |
19.8 |
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Demand Deposits |
1,029,500 |
1,025,130 |
0.2 |
0.4 |
13.4 |
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Time Deposits |
5,953,880 |
5,028,970 |
18.7 |
18.4 |
20.9 |
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Investments |
2,519,660 |
2,187,050 |
12.3 |
15.2 |
17.7 |
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Government Securities |
2,203,170 |
1,869,570 |
14.2 |
17.8 |
21.4 |
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Other Approved Securities |
316,490 |
317,480 |
2.7 |
-0.3 |
-2.3 |
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Bank Credit |
3,547,420 |
3,240,790 |
12.4 |
9.5 |
13.3 |
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Food Credit |
167,320 |
124,850 |
62.4 |
34.0 |
35.6 |
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Non-food Credit |
3,380,110 |
3,115,940 |
11.0 |
8.5 |
12.4 |
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Money Supply M3 (Feb. 26, 1999) |
9,455,060 |
8,253,890 |
13.4 |
14.6 |
18.8 |
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Net Bank Credit to Government |
3,868,200 |
3,306,190 |
11.4 |
17.0 |
20.3 |
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Reserve Bank Credit to
Government |
1,543,690 |
1,351,600 |
5.1 |
14.2 |
18.3 |
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Bank Credit to Commercial
Sector |
4,651,290 |
4,321,900 |
11.8 |
7.6 |
10.6 |
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FOREX (US$ mln.) March 19, 1999 |
312,350 |
293,670 |
7.0 |
6.4 |
10.5 |
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Foreign Currency Assets |
282,560 |
259,750 |
11.1 |
8.8 |
13.7 |
FOREIGN INSTITUTIONAL INVESTMENT IN INDIA
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Financial Year |
Gross Purchases (Rs. mlns.) |
Gross Sales (Rs. mlns.) |
Net Investment (Rs. mlns.) |
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1992-93 |
175 |
40 |
135 |
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1993-94 |
55,927 |
4,665 |
51,262 |
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1994-95 |
76,310 |
28,354 |
47,966 |
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1995-96 |
96,930 |
27,520 |
69,420 |
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1996-97 |
155,540 |
69,804 |
85,746 |
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1997-98 |
186,948 |
127,373 |
59,577 |
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1998-99 |
161,150 |
176,993 |
-15,844 |
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Total |
732,980 |
434,749 |
298,262 |
FOREIGN EXCHANGE RATES
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Currency |
Unit |
Indian
Rupees |
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US Dollar |
1 |
Rs.45.03 |
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UK Pound |
1 |
Rs.67.77 |
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Euro |
1 |
Rs.41.02 |
Attachment 5
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
hours, we will assume that our report meets your requirement. If you have any
suggestion to help us improve our reports and services, please do not hesitate
to let us know.
Thank you.
______________________________________________________________________________
To : MIRA INFORM PRIVATE
LIMITED
From :
To :
Feedback – Please tick
the appropriate box.
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GOOD |
FAIR |
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Further Comments/Suggestion :
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Company’s Stamp &
Signature