MIRA
INFORM REPORT
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Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SENLOGIC
AUTOMATION PRIVATE LIMITED |
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Registered Office : |
52, Gandhi
Street, Flat 5D, West Mambalam, Chennai-600033, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.02.2002 |
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Com. Reg. No.: |
18-48405 |
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CIN No.: [Company
Identification No.] |
U28122TN2002PTC048405 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
To carry on the
business of manufacturers, assemblers, dealers, erectors, importers,
exporters, repairers and traders of all kind s of weigh-bridges, weighing scales,
weighing machines, weighing and measuring instruments, weights and measures,
beam scales, mechanical, hydraulic pneumatic, electrical and electronic
machines, appliances, equipments and instruments and components and spares
are required thereof. To carry on the
business of manufacturers, assemblers, dealers, importers, exporters,
repairers and traders of computers and data processing machines and systems
and also of computer applications and software systems and also to deal in
components and spares thereof. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
52, Gandhi
Street, Flat 5D, West Mambalam, Chennai-600033, Tamilnadu, India |
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E-Mail : |
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Factory 1 : |
# 6, 4th Street, Suresh Nagar,
Valasaravakkam, Chennai - 600 087, Tamil nadu,
India |
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Tel. No.: |
91 - 44 - 24865640 , 24868937 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. R. Ravichandran |
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Designation : |
Whole time
Director |
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Address : |
No.52, Gandhi
Street, West Mambalam, Chennai-600033, Tamilnadu |
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Date of Birth/Age : |
21.03.1966 |
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Date of Appointment : |
05.02.2002 |
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Name : |
Mr. R. Mathivanan |
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Designation : |
Whole time
Director |
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Address : |
No.52, Gandhi
Street, West Mambalam, Chennai-600033, Tamilnadu |
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Date of Birth/Age : |
03.04.1970 |
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Date of Appointment : |
05.02.2002 |
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Name : |
Mr. R. Sreedevi |
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Designation : |
Whole time Director |
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Address : |
No.52, Gandhi
Street, West Mambalam, Chennai-600033, Tamilnadu |
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Date of Birth/Age : |
25.12.1972 |
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Date of Appointment : |
05.02.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. R.
Ravichandran |
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3000 |
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Mr. R. Mathivanan |
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3000 |
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Mr. R. Sreedevi |
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4000 |
BUSINESS DETAILS
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Line of Business : |
To carry on the
business of manufacturers, assemblers, dealers, erectors, importers, exporters,
repairers and traders of all kind s of weigh-bridges, weighing scales,
weighing machines, weighing and measuring instruments, weights and measures,
beam scales, mechanical, hydraulic pneumatic, electrical and electronic
machines, appliances, equipments and instruments and components and spares
are required thereof. To carry on the
business of manufacturers, assemblers, dealers, importers, exporters,
repairers and traders of computers and data processing machines and systems
and also of computer applications and software systems and also to deal in
components and spares thereof. |
GENERAL
INFORMATION
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Customers : |
v Indian
Railways v Coal
India Limited v BEML v Acc
Limited v L&T-Komatsu
Limited v Vedanta
Group v Paradeep
Phosphate Limited v Deepak
Fertilizers v Aryan
Coal v I.G.
Petrochemicals Limited |
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No. of Employees : |
About 25 |
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Auditors : |
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Name : |
N. Palanivelu
& Company Chartered
Accountants |
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Address : |
No.3, Danieal
Street, T-Nagar, Chennai-600017, Tamilnadu, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.00 |
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3] Reserves & Surplus |
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0.354 |
0.181 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.454 |
0.281 |
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LOAN FUNDS |
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1] Secured Loans |
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0.145 |
0.158 |
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2] Unsecured Loans |
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1.605 |
1.235 |
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TOTAL BORROWING |
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1.750 |
1.393 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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2.204 |
1.674 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.422 |
0.424 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.160 |
0.160 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.436 |
0.325 |
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Sundry Debtors |
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3.675 |
1.919 |
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Cash & Bank Balances |
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0.222 |
0.396 |
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Other Current Assets |
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0.015 |
0.010 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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4.348 |
2.650 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.668 |
1.541 |
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Provisions |
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0.077 |
0.043 |
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Total
Current Liabilities |
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2.745 |
1.584 |
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Net Current Assets |
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1.603 |
1.066 |
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MISCELLANEOUS EXPENSES |
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0.019 |
0.024 |
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TOTAL |
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2.204 |
1.674 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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15.428 |
10.626 |
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Total Income |
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15.428 |
10.626 |
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Profit/(Loss) After Tax |
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0.254 |
0.149 |
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Expenditures : |
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Interest |
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0.000 |
0.011 |
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Depreciation & Amortization |
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0.074 |
0.089 |
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Other Expenditure |
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15.100 |
104.611 |
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Total Expenditure |
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15.174 |
104.711 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.64 |
1.40 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.04 |
5.63 |
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Current Ratio (Current Asset/Current Liability) |
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1.58 |
1.67 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details:
Incorporated
in February 2002, subject is a professionally managed company, engaged in the
weighing Automation Activities.
A
trusted name, subject is one of India's leading company engaged in the weighing
Automation Activities. The company offers a complete range of products such as
In-motion Weighing Systems, On Board Weighing Systems, from design through
implementation to operation and customized product development.
To
remain competitive and meet customers' expectations, they lay great emphasis on
the continuous up gradation of products and related technologies, and
development of new products. Their commitment to advancement of technology is
reflected in their involvement in the development of customized products and
flawless operations.
Technical
collaborattion with VEI Group, Italy
Senlogic
is authorized technical collaborator of VEI Group, Italy for providing On Board
Weighing System on an open platform. The company has entered into Joint venture
agreement with VEI Group who is a pioneer in the filed of On Board Weighing
system since 1986.
Their
products On Board Weighing system MILLS-2 is so designed to work on all types
of pay loaders and forklift trucks available in their country. The MILLS-2 works
with the build hydraulic system and power supply; therefore, no separate system
layout is required. As no moving or consumable parts are incorporated
therefore, maintenance of the system becomes almost nil. Over and above the
system is most users friendly with latest technical know-how.
Their
most modern microprocessor based electronic weighing system of various models
are the best available in India manufactured under strict quality control to
meet the relevant rules and regulations of Weights and Measures and OIML. Also
they have wide after sales service network operating from different locations
to provide fast and prompt service to their customers. They have bagged major
orders for On-Board & In motions weighing in the recent past from various
Indian customers like Railways, Coal India, Larsen & Toubro, BEML, Komatsu,
Vedanta Group, Sundaram Clayton, ACC etc.
Load
cells, the integral part of any Weighing System they are using from the
manufactures of World repute like Revere Transducers inc., Sensortronics,
Precision Transducers Inc., Celtron Technologies Inc., whose load cells are
accepted world wide as the best one. They have supplied several numbers of Road
and Rail Weighbridges to different Government, Public Sector and Private
organizations across the country. Their Products are already approved by
Ministry of Food and Civil Supplies and Consumer Affairs, Government of India,
Directorate of Legal Metrology New Delhi.
Leadership Team :
Mr.
M.S. Gujaral, Chairman,
A
Veteran administrator having served prestigious positions viz. Chairman-Railway
board, Chairman - Coal India and presently holding chairmanship in many leading
Indian companies
Other
Directors
Mr. R. Ravichandran - Director (Technical)
Mr. R. Mathivanan - Director
Mrs. R. Sreedevi - Director
Infrastructure
Their
well-equipped manufacturing units are located in Chennai and Pondicherry with the facility of latest and modern
test equipment and laboratory. They have a large number of result oriented Engineering
force posted at their various branch offices located across the country to run
at all directions. Needless to say their main target is to achieve the utmost
satisfaction of their customers.
They
are mainly focused on rail-in-motion weighing & on-board weighing system
for heavy earth moving equipment and are proposed to have a high capacity / volume manufacturing facility
at Sriperumpadur, with a green field area of around 38000 sq ft.
Senlogic will have an integrated facility for manufacturing its products from
raw material to finished product.
Senlogic
also proposed to have 100 tones dynamic loading facility for in-house testing
of rail sensors.
THEIR STRENGTH
v
A
Team of technically qualified and experienced professionals
v
Focus
and investment in equipment, manpower and Time for R & D and Design
v
Development
& Innovation for complex construction and critical / customized
applications.
Their Services
Subject
is engaged in manufacturing, Sales and Service of all types of Weighing
equipment. They supply highly sophisticated Electronic and mechanical weighing
equipment which includes On Board Weighing system, Automatic Rail weigh bridge,
In motion and Static, Electronic Road Weighbridge, Electronic Weighing Scales
with high /medium accuracy and other associated Weighing equipment. Also, they
undertake to manufacture custom built weighing Systems according to any
specific requirements.
In
addition, they are also one of the authorized technical collaborator of VEI
Group, Italy, for providing On Board Weighing System on an open platform .They
are a Joint venture company in India with the VEI Group who is a pioneer in the
field of On Board Weighing System since 1986 with good reputation and prompt
service backup being the credentials accepted by the customers world over.
Therefore being in India they also promise to be in the same level beside VEI
group.
Site
Survey
Requirement
Specification
v
Controller
Selection
v
I/O
Module Estimation
v
Communication
Network Selection
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Overall
Network Configuration
v
Interface
with third Party Devices
v
Reporting
Software
v
Operator
Training
Estimation
of
v
Equipment
required in control room like Cabinets, Consoles etc.
v
Erection
materials based on instrument location drawings
v
Structural
Steel pipes for instruments supports,cables ducts, trays etc
v
Type
and quantity of cables
Proposal
Documentation
v
Overall
Scope
v
Configuration
Diagram
v
Major
Equipment Specification
v
Proposed
Equipment Layout
v
Major
BOM
v
Scope
of Services
v
Applicable
Standards
v
Catalogue
/ Data Sheets
Detailed
Design Engineering
Control
Automation / Electrical
v
General
and Internal Arrangement
v
Wiring
Diagram
v
Control
Scheme
v
BOM
with Specification
v
Control
Room Layout
v
Cable
Interconnection Diagram
v
Power
Consumption Charts
v
Consumable
List
v
Assembly
Procedure
v
SAT
Procedure
v
FAT
Procedure
v
O
and M Documentation
Instrumentation
Preparation
of instrument list from P&I diagrams Detailed specifications of various
instruments, based on the P&I diagrams and process details Preparation of
instrument hook-up drawings, Preparation of detailed BOM for field work like
pipes, fittings, tubes, cables, etc. Preparation of interconnection diagrams
between field and control room instruments/systems, Preparation of cable
schedule for interconnection between various cabinets and field instruments,
Design of shut down and interlock systems for the Plant, based on details
furnished by the Process Engineers, Duct and cable tray routing
O
& M Documentation
Control Software / SCADA Development
v
Preparation
of I/O Lists, Ladder Logic Diagrams
v
Development
of prototype
v
Program
Development
v
SCADA
Screens
v
Simulation
testing
v
Integration
testing and Configuration
Process
Optimization Services
v
Control
Audit & Reporting
v
Process
Optimization Measures
v
Retrofits
v
Implementation
& Testing
v
Reporting
and Handing Over
Field
Services
Technical
Manpower Deputation for the following activities
v
Commissioning
v
Preventive
Maintenance
v
Breakdown
Resolutions
v
Calibrations
v
Software
Upgrades
v
Retrofits
Onsite
or Classroom training facilities available for
v
PLC
v
Drives
v
HMI
v
System
Specific
Their Clients :
Following are some of their major clients
v Indian
Railways
v Coal
India Limited
v BEML
v Acc
Limited
v L&T-Komatsu
Limited
v Vedanta
Group
v Paradeep
Phosphate Limited
v Deepak
Fertilizers
v Aryan
Coal
v I.G.
Petrochemicals Limited
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.42.90 |
|
UK Pound |
1 |
Rs.84.69 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|