MIRA
INFORM REPORT
|
Report Date : |
09.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
LASER
SCIENCE SERVICES INDIA PRIVATE LIMITED |
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Formerly Known As : |
LASER
SCIENCE |
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Registered Office : |
28,
Mahavir Centre, Sector – 17, Vashi, Navi Mumbai – 400705, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
05.02.2004 |
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Com. Reg. No.: |
11-144383 |
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CIN No.: [Company
Identification No.] |
U51507MH2004PTC144383 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUML05232D |
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PAN No.: [Permanent
Account No.] |
AAACL9602L |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Representatives
of foreign companies for Laser Systems. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
10000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track records. Directors are experienced, respectable and
resourceful businessmen. Their trade relations are fair. Financial position is good. Payments are usually correct and as per
commitments. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
28,
Mahavir Centre, Sector – 17, Vashi, Navi Mumbai – 400705, Maharashtra, India |
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Tel. No.: |
91-22-27893532 |
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Fax No.: |
91-22-27891289 |
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E-mail : |
laser_science@vsnl.com |
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Website : |
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Area : |
Owned |
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Location : |
200
sq. ft. |
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Representatives
: |
Mr.
O.E.Jagadesh (Chennai) Tel.:
91-44-4716039 Mr. Prasanna
Krishna (Bangalore) |
DIRECTORS
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Name : |
Mr.
Lalit Dharam P. Kumar |
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Designation : |
Director
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Address : |
House
No. 15, Arinda Co-operative Housing Society, Sector 10, Vashi, Navi Mumbai –
400703, Maharashtra, India |
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Date of Birth/Age : |
30.03.1956 |
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Date of Appointment : |
05.02.2004 |
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Name : |
Ms.
Sudha Lalit Agrawal |
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Designation : |
Director
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Address : |
House
No. 15, Arinda Co-operative Housing Society, Sector 10, Vashi, Navi Mumbai –
400703, Maharashtra, India |
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Date of Birth/Age : |
29.05.1962 |
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Date of Appointment : |
05.02.2004 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Lalit Dharam P. Kumar |
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25000 |
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Ms.
Sudha Lalit Agrawal |
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25000 |
BUSINESS DETAILS
|
Line of Business : |
Representatives
of foreign companies for Laser Systems. |
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Agencies Held : |
v
Coherent
Inc. USA v
Lambda
Physic AG v
Roper
Scientific v
PCO
Computer Optics Gmbh v
Sacher
Laser Technical GMBH v
Kimmon
Electric Company Limited v
IMRT
v
Beam
Dynamics v
Euro
laser Crystal Techno Limited, Russia v
Ealing
Catalos UK v
Laser
Physics Inc. |
GENERAL
INFORMATION
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Customers : |
Research
Institute |
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No. of Employees : |
26 |
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Bankers : |
ICICI
Bank Limited, Vashi, Navi Mumbai Andhra
Bank |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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|
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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1.285 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.785 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.200 |
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TOTAL BORROWING |
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0.200 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.985 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.069 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.898 |
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Sundry Debtors |
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1.104 |
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Cash & Bank Balances |
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|
0.189 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total Current Assets |
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2.191 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
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4.295 |
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Total Current Liabilities |
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4.295 |
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Net Current Assets |
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[2.104] |
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MISCELLANEOUS EXPENSES |
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0.020 |
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TOTAL |
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1.985 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
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|
31.03.2005 |
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Sales Turnover [including other income] |
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3.158 |
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Profit/(Loss)
Before Tax |
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2.080 |
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Provision
for Taxation |
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|
0.795 |
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Profit/(Loss)
After Tax |
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|
1.285 |
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Total
Expenditure |
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1.078 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
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PAT / Total Income |
(%) |
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40.69 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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65.86 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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33.22 |
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Return
on Investment (ROI) (PBT/Networth) |
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1.16 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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2.51 |
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Current
Ratio (Current
Asset/Current Liability) |
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0.51 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
was incorporated on 1988 as a Sole Proprietory Concern under the name and style
of ‘Laser Science’. The name of the concern was changed to ‘Laser Science
Services India Private Limited’ on 5th February, 2004 and obtained a
Company Registration Number 144383.
The
subjects Registered Office was shifted from A454, MIDC, TTC Industrial Estate,
Manape, Navi Mumbai to the present address.
Trade
Reference
v
Bhabha
Atomic Research Centre
v
Indian
Institute of Technology
v
IISC
v
Tata
Institute of Fundamental Research
v
Centre
for Advanced Technology
As
per website :
Laser Science is a private
company located in Vashi, New Bombay working as a representative for foreign
manufacturers in the field of Lasers and Electro- Optics. They enjoy the
exclusive representation of more than ten companies from United States and
Europe including world Leader Coherent Inc USA. The primary responsibility of
Laser Science is to promote the sales of Laser systems in India and provide
technical back-up on the sold systems. They have a highly qualified team of
sales and service engineers, several of whom are holding B.E., M.Tech and Ph.D
degrees.
They have been supplying various kind of laser systems in BARC, CAT,
IIT's , IISC, TIFR and many other research institutes for past 14years and
built the rapport as a technically sound company advising the customers to
select the laser best suited for their scientific and research applications.
At present they have several installations all over India for the most
advanced laser systems for research in the field of atomic and molecular
physics, "MultiPhoton Excitation of Biological molecules", Optical
Communications etc. They have also been supplying laser systems to other
premier research centres in India such as Bhabha Atomic Research Centre (BARC-
Mumbai), Indian Institute of Science- Bangalore, Centre for Advanced
Technology- CAT Indore and all IIT's in India.They have always got benefited
with the excellent relationship with scientists at many places in order to
learn the new research area and current trends in the field of Laser physics
worldwide.
In the field of lasers and electro optics, Laser Science has been able
to maintain a market leader position over the years. The market is limited to
handful of premier research organization in the country, however the turn-over
for the current year has been more than $ 2 million.
Laser Science enjoys exclusive
representation of more than 10 leading companies located in USA and Europe,
including the world leader Coherent Inc of USA.
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. 44.45 |
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UK
Pound |
1 |
Rs. 84.83 |
|
Euro |
1 |
Rs. 57.12 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 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 |
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 |