MIRA
INFORM REPORT
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Report Date : |
07.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALBA CONTROL SYSTEMS LIMITED |
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Registered Office : |
20/6,
Rajpur Road, Civil Lines, Delhi - 110 054 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.11.1989 |
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Com. Reg. No.: |
55-38375 |
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CIN No.: [Company
Identification No.] |
U31909DL1989PLC038375 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA12469C |
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PAN No.: [Permanent
Account No.] |
AAACA0031C |
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Legal Form : |
Closely Held
Public limited liability company. |
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Line of Business : |
Manufacturing
and supplying of closed circuit television (CCTV) parts and components used
in surveillance and security systems, card access control systems, building
management systems, integrated security systems and fire detection and alarm
systems. |
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 78000000 |
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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 records. 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 : |
20/6, Rajpur Road, Civil Lines, Delhi - 110 054, India |
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Tel. No.: |
91-11-294 0906 / 646 6242 / 23920876 / 23559070 |
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Fax No.: |
91-11-647 7258 / 23675377 |
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E-Mail : |
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Website : |
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Corporate Office : |
# 275
Udyog Vihar, Phase IV, Gurgaon -122001, INDIA |
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Tel. No.: |
91-124-4107862
/ 63 |
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Fax No.: |
91-124-4057955 |
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E-Mail : |
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Factory 1 : |
E-4, Sector
VI, Noida - 201 301, Uttar Pradesh |
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Tel. No.: |
91-11-853
4036 / 37 / 38 |
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Fax No.: |
91-11-854
9754 / 55 |
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Branches : |
Bangalore Branch # 855, 14th Cross, CMH Road , 2nd
Stage Indranagar, Bangalore-560 038 Hyderabad Branch # 8-2-333/B/1, Road No. 3,
Banjara Hills, Hyderabad- 500082 Chennai Branch #
D-111 , 1 Main Road, White House , Anna Nagar East, Chennai - 600102 |
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Projects,
Marketing & Technical Support : |
D-38, Sector 2, Noida, Uttar Pradesh |
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Service
Department : |
G-13/10, Phase I, DLF City, Gurgaon, Haryana |
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Tel No. : |
91-124-635 4457 |
DIRECTORS
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Name : |
Mr.
Rajeev Bajaj |
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Designation : |
Managing Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
09.09.1963 |
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Date of Appointment : |
16.11.1989 |
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Name : |
Mr.
Sanjeev Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
05.04.1968 |
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Date of Appointment : |
16.11.1989 |
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Name : |
Mrs.
Sonia Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
27.11.1965 |
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Date of Appointment : |
16.11.1989 |
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Name : |
Mr. Vinit Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
16.10.1971 |
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Date of Appointment : |
15.01.2007 |
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Name : |
Ms. Shefali Bajaj
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Designation : |
Director |
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Address : |
20/6, Rajpur Road, Delhi - 110 054, India |
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Date of Birth/Age : |
15.04.1967 |
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Date of Appointment : |
17.02.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Rajeev
Bajaj |
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25300 |
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Sanjeev
Bajaj |
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51800 |
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Sonia
Bajaj |
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45600 |
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Urmila
Bajaj |
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12000 |
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Surinder
Bajaj |
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40000 |
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Vinit
Bajaj |
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26100 |
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Shapali Bajaj |
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10100 |
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Anuj Arora |
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1600 |
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Bajaj Vina
Chandra |
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10000 |
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Ashok Kumar Bajaj
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5000 |
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Pooja Bajaj |
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22500 |
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Total |
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250000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
and supplying of closed circuit television (CCTV) parts and components used
in surveillance and security systems, card access control systems, building management
systems, integrated security systems and fire detection and alarm systems. |
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Products : |
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Brand Names : |
ALBA
and ALBA VISION |
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Imports : |
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Countries : |
UK,
Japan, Taiwan and Singapore |
GENERAL
INFORMATION
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Suppliers : |
v
Emco
Control Private Limited, India v
Lookman
Electroplast Industries Limited, India v
Aksh
India Private Limited, India v
Amar
Electricals, India v
Chugai
Boykes Company Limited, Korea v
KG
Technocrats, India v
Ralton
Electronics, India v
Oriental
Electroplast Private Limited, India v
Uniship
Electronics Private Limited, India v Kalsi Jewellers., India |
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Customers : |
v
Hewitt v
Fidelity
Investment v
ExonMobil v
Unisys v
Texas
Instruments v
Dell v
HP v
Inetl v
Boeing v
Motorola v
Deloitte v
HCL
Technologies v
Agilent
Technologies v
Target
Corporation v
Oracle v
Veri On v
Delhi Metro
Rail Corporation Limited v
Qwest v Microsoft |
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No. of Employees : |
55 |
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Bankers : |
v
Union Bank
of India, Delhi v
Union Bank
of India, Noida v
ABN Amro
Bank v
ICICI Bank v Centurian Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Krishan K. Gupta
and Company Chartered
Accountants |
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Address : |
1/3-10196,
Jhandewalan Devi Mandir Lane, New Delhi – 110055, India |
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Tel. No.: |
91-11-23678214 /
23520387 / 23559070 |
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Fax No.: |
91-11-23675377 |
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E-Mail : |
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Associates/Subsidiaries : |
Alba
Security Systems (Private) Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity shares |
Rs. 10 each |
Rs. 7.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity shares |
Rs. 10 each |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.500 |
2.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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17.177 |
6.363 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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19.677 |
8.863 |
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LOAN FUNDS |
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1] Secured Loans |
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0.336 |
2.656 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.336 |
2.656 |
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DEFERRED TAX LIABILITIES |
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0.091 |
0.339 |
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TOTAL |
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20.104 |
11.858 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.574 |
4.790 |
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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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0.063 |
0.013 |
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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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2.475 |
4.923 |
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Sundry Debtors |
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24.453 |
10.810 |
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Cash & Bank Balances |
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9.725 |
1.086 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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3.732 |
4.526 |
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Total
Current Assets |
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40.385 |
21.345 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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25.990 |
14.386 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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25.990 |
14.386 |
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Net Current Assets |
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14.395 |
6.959 |
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MISCELLANEOUS EXPENSES |
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0.072 |
0.096 |
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TOTAL |
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20.104 |
11.858 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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121.775 |
71.479 |
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Total Income |
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121.775 |
71.479 |
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Profit/(Loss) After Tax |
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20.973 |
2.937 |
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Expenditures : |
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Interest |
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0.205 |
0.560 |
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Depreciation & Amortization |
|
1.490 |
1.126 |
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Other Expenditure |
|
99.106 |
66.856 |
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Total Expenditure |
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100.801 |
68.542 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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17.22 |
4.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.32 |
1.62 |
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Current Ratio (Current Asset/Current Liability) |
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1.55 |
1.48 |
LOCAL AGENCY FURTHER
INFORMATION
Fixed Assets
- Building
- Furniture
- Machine and Tools
- Generator
- Car
- Office Equipments
- Scooter
- Fire Extension
- Testing Jig
- Pager and Cellular Phone
- Air Conditioner
- Water Cooler and Filter
- E.P.B.X.
- Cycle
- Photocopy Machine
- Books
- Fax Machine
Bankers Charges
Report as per Registry
|
Name of the company |
ALBA CONTROL
SYSTEMS LIMITED |
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Presented By |
UNION BANK OF INDIA AND ALBA
CONTROL SYSTEMS LIMITED |
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1) Date and description of instrument creating the change |
Hypothecation
agreement dated 22.03.1995 [Regd. On 05.04.1995] [Modified upto
Rs. 3.100 Millions on 30.04.1997 Regd. On 09.10.1997] |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
entire plant and machinery including generator imported and indigenous raw
materials, work-in-process, finished
goods i.e. security systems like closed circuit TV Cameras, monitor,
electronic door locks, electronic intercom system etc. packing materials –
all existing and future book debts collaterally secured by Equitable Mortgage
of property at plot No. 4, Block – E, Sector VI, Noida being factory land and
holding admeasuring 211.45 sq. mtrs. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Union Bank of
India, F-14/15, Connaught Place, New Delhi |
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5) Name and Address and description of the person entitled to the charge. |
Hypothecation
agreement of goods, debts and assets dated 19.05.2001 |
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6) Date and brief description of instrument modifying the charge |
The amount secured
by this charge is reduced from Rs. 3.100 Millions to Rs. 2.698 Millions. The
credit facilities secured by this charge consist of CC [Hypothecation] Rs.
0.800 Millions ; OD [Book Debts] Rs. 0.400 Millions ; Letter of Guarantee Rs.
0.748 Millions and ; Inland LC Rs. 0.750 Million s aggregating to Rs. 2.698
Millions. Interest is chargeable as per Bank rules – The charge is secured by
hypothecation of stock of raw – materials, work in process and finished goods
like security systems, book debts and other current and fixed assets both
present and future and also equitable mortgage of property at Plot No. 4,
Block – E, Sector – VI, Noida being factory land and building – other terms
and conditions remain same. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
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AS PER WEBSITE
Enterprise-Wide Security
One of the premier Security Systems
Integrator and solutions provider in India, Alba Control Systems Ltd has been
in the business of Integrated Solutions for the last 16 years. Founded and
established in the year 1989, their professional approach in designing systems
towards optimal application, backed by uncompromised quality, customer support
and competitive pricing have been some of the driving factors behind their
accomplishments.
With their state-of-the-art facilities
at Gurgaon, NOIDA, Bangalore and Hyderabad in addition to their presence in all
major cities, they have been able to meet the market demand and customer
support all over the country. As an ISO:9001 recipient for manufacturing,
maintaining standards and delivering quality solutions to their invaluable
customers - Customers who appreciate technology and can bank on a system
specifically customized to meet their varied security needs. Alba Control has
always been open to understand specific customer requirements and planning
deliverable objectives for enterprises of all sizes and magnitude.
Customer First
Team Alba has always been
committed towards Total Customer Satisfaction by providing quality solutions
backed by Competent and Prompt Support Services. The day starts with 'Customer
First…' and ends with satisfactory Customer Service.
Vision and Commitment
Alba's strength lies in its
exhaustive understanding of the need, in-house engineering and the ability to
deliver a customized solution through its team of highly skilled Project
Managers and System Integrators. They, at Alba, employ more than 150
professionally trained Project Managers, System & Application Engineers,
System Visualisers & Designers, Software Developers and Competent Sales
Personnel who are the driving force behind what they are today.
Total Quality Management
At Alba Control the solutions are
delivered under stringent quality checks duly monitored by system engineers and
project managers. Their quality analysts are committed towards total customer
satisfaction and sales backed by competent after-sales support.
Seamlessly Integrated Solutions
Their security solutions enable
their clients to maximize their IT and infrastructure investments, increase
productivity and effectively protect and manage employees, assets, property and
resources. The solutions are engineered to the highest industrial standards to
meet international satisfactions.
Comprehensive
categories of the products given below:
- Access Control
Systems.
- Id and credential
management, HR solutions : Workforce planning
- Biometric
Identification and Verification.
- CCTV Surveillance:
Workplace Security, On ground live monitoring.
- Network Video Management and storage solutions: TCP/IP Remote
video.
- Digital Video Management
Solution for investigations.
- Visitor and lobby management.
- Smart Card Solutions.
- Alarm Monitoring:
Intrusion & Perimeter Detection.
- IT security applications.
The Success Story - Alba Control Systems
Ltd has achieved major success in providing integrated security solutions. Alba
maintains over 100,000 Security Systems all over India . Their diversified
sectors includes:
- Govt Installations
- Public Sector Installations
- Industries
- Corporate Houses
- T, Call Center and BPO's
- Technology Centers
- Building Complexes: Residential & Commercial
- Hotels
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.43.15 |
|
UK Pound |
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.57.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
|
|
PAID-UP CAPITAL |
1~10 |
|
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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 |
|