MIRA
INFORM REPORT
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Report Date : |
13.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DELTA ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
C – 120, Naraina Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.01.1970 |
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Com. Reg. No.: |
005207 |
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CIN No.: [Company
Identification No.] |
U74899DL1970PTC005207 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD00124F |
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PAN No.: [Permanent
Account No.] |
AAACD1167C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Reed Relays, Proximity Switches and Transformers. |
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 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Trade relations are fair. Payments are usually
correct and as per commitments. General Financial position is satisfactory. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
C – 120, Naraina Industrial Area, |
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Tel. No.: |
91-11-25796150 to 25796153, 41411112 |
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Fax No.: |
91-11-25795290, 25799569 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Gurpreet Singh |
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Designation : |
Director |
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Address : |
20-A, |
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E-Mail: |
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Date of Birth/Age : |
22.11.1933 |
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Date of Appointment : |
27.10.1970 |
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Name : |
Mr. Kushal G. Singh |
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Designation : |
Whole Time Director |
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Address : |
20-A, |
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E-Mail: |
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Date of Birth/Age : |
19.02.1935 |
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Date of Appointment : |
27.10.1970 |
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Name : |
Mr. Rajinder Singh |
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Designation : |
Director |
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Address : |
B – 52, NDSE Part II, |
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Date of Birth/Age : |
15.04.1929 |
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Date of Appointment : |
30.06.1970 |
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Name : |
G V Subramaniam |
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Designation : |
Director |
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Address : |
Flat No. A – 706, 7th Floor, River View Apartment, plot no.
10, Mayur Vihar Arext, Phase – I, Delhi – 110 091, India |
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E-Mail: |
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Date of Birth/Age : |
18.02.1940 |
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Date of Appointment : |
22.06.1989 |
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Name : |
Mr. Bal Krishan Gupta |
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Designation : |
Director |
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Address : |
B – 174, Hari Nagar, |
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E-Mail: |
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Date of Birth/Age : |
28.02.1949 |
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Date of Appointment : |
02.08.1999 |
KEY EXECUTIVES
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Name : |
Mr. Pankaj Rai Jain |
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Designation : |
Secretary |
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Address : |
Flat No. 114, Kadambari Apartments, Sector 9, Plot No. 19, Rohini, |
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Date of Birth/Age : |
30.12.1958 |
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Date of Appointment : |
03.09.1990 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Maharaja Sukhjit Singh |
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7000 |
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Mrs. Punita G. Singh |
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13000 |
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Mrs. Simran Bhargava |
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10000 |
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Mr. Inderdeep Singh |
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1 |
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Mr. Rajinder Singh |
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1 |
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Thermadyne private Limited |
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2000 |
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Mr. Kushal G. Singh |
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8000 |
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Total |
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40002 |
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Category |
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Percentage
of Holding |
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Bodies Corporate (not mentioned above) |
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5.00 |
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Directors or relatives of directors |
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77.50 |
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Other top fifty (50) shareholders (other than listed above) |
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17.50 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Reed Relays, Proximity Switches and Transformers. |
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Products : |
1. Transformers |
GENERAL INFORMATION
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Customers: |
v Automotive
Sector v Ballasts And
Choke v Contract
Manufacturing v Dental Equipment v Entertainment
Electronics v General v Home Appliances v Industrial Agro
Equipment v Industrial
Controls v Industrial
Instrumentation v Instrumentation v Office
Automation v Telecom |
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No. of Employees : |
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Bankers : |
v
v
Naraina, |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
More Datta and Company Chartered Accountants |
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Address : |
KP – 294, Maurya Enclave, Pitampura, |
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Group Companies: |
v
Continental Device India Limited v
Deltron Limited v
Thermadyne Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 7.50 each |
Rs. 1.500 millions |
|
15000 |
Preference Shares |
Rs. 100.00 each |
Rs. 1.500 millions |
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Total |
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Rs. 3.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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40002 |
Equity Shares |
Rs. 7.50 each |
Rs. 0.300
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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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0.300 |
0.300 |
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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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2.871 |
2.803 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.171 |
3.103 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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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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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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3.171 |
3.103 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.142 |
0.176 |
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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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0.313 |
0.313 |
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DEFERREX TAX ASSETS |
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0.136 |
0.126 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.720 |
0.65 |
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Sundry Debtors |
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0.605 |
1.616 |
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Cash & Bank Balances |
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1.048 |
0.411 |
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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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1.074 |
0.914 |
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Total
Current Assets |
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3.447 |
3.626 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.464 |
0.795 |
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Provisions |
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0.403 |
0.343 |
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Total
Current Liabilities |
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0.867 |
1.138 |
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Net Current Assets |
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2.580 |
2.488 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.171 |
3.103 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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2.369 |
6.385 |
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Other Income |
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0.00 |
0.000 |
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Total Income |
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2.369 |
6.385 |
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Profit/(Loss) Before Tax |
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0.058 |
NA |
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Provision for Taxation |
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0.000 |
NA |
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Profit/(Loss) After Tax |
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0.058 |
NA |
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Export Value |
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1.200 |
0.911 |
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Expenditures : |
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Total Expenses |
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2.270 |
NA |
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Depreciation |
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0.041 |
NA |
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Total Expenditure |
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2.311 |
NA |
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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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2.45 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.45 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.62 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.02 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.27 |
0.37 |
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Current Ratio (Current Asset/Current Liability) |
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3.98 |
3.19 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
ANZ Grindlays Bank Ltd.
H-Block
POST BOX NO. 317
Punjab National Bank
Naraina Branch
Naraina Industrial Area
New
Electronic and Computer Software Export
Promotional Council of
PHD House (3rd Floor)
Khel Gaon Marg
New Delhi-110 016
Form 8
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Name of the company |
DELTA ELECTRONICS PRIVATE LIMITED |
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Presented By |
S. Gurpreet Singh
– Director |
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1) Date and description of instrument creating the change |
Hypothecation
agreement in Form No. 192 dated 06.06.1974 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.250 million |
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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
Stocks of Raw Materials Goods in Process Finished Goods viz.
Reeds, Teed-Glass Seals, Paddles, Reed Switch Glass tubing High infrared
absorption Glass Tubing, Ni.F. Alloy Robbins Epoxies and hardeners, High
insulation Films etc. stored at C- 120, Naraina Industrial area, New Delhi –
110 028, India |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The Punjab Sind
Bank Limited Naraina, |
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5) Name and Address and description of the person entitled to the charge. |
The Punjab Sind
Bank Limited having its registered Office at Hall Bazar, Amritsar and Branch
at Naraina, New Delhi, a banking Company incorporated under Indian Companies
Act, 1882. |
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6) Amount or rate of percent of the Commission allowance either discount (if any paid or made either directly or indirectly by the Company to any person in consideration of his subscription or agreement to subscribe whether procuring or agreeing to procure subscription whether absolute or conditional for any of the debentures, include in this return (c) |
Nil |
Website details attached:
Incorporated in 1970 as Delta Electronics Private Limited (DEPL)
- Subject pioneered in
- Over a period of time the product range
has been expanded to include a comprehensive range of Wound
Components- Laminated Transformers, Ferrite Transformers, Toroids,
Chokes and Adapters.
- Watch word ever since inception- Total
Quality Management (TQM)
- Their Engineering Department regularly
undertakes customized design and development of products to cater to
specific customer requirements.
- Professionally Managed
BUSINESS ACTIVITIES
Subject’s range of Power Transformers (4VA to 100VA) is certified by the Canadian Standards Association (CSA), conforming to the UL 506 and CAN/CSA C22.2 standards with authorization to use the CSA marking on the products. In addition all Delta products comply with the appropriate Indian qualifications/approval for quality, safety and reliability which are in line with the International norms.
The Reed Relays have approvals from the appropriate certifying agencies
including the Indian Ministry of Defence (LCSO), Telecom Department (CACT, ITI,
and P&T) and Department of Electronics (STQC).
They are always happy to undertake design and development of customer
specials for applications ranging from miniature Toys to Telecom and Medical
equipment/instruments. Subject’s Engineering Expertise along with its
commitment to quality enables it to meet the stringent quality standards of the
industrial and consumer markets in keeping with international norms.
GROUP COMPANIES
Continental Device India Limited (www.cdilsemi.com)
Pioneers
in
Deltron Limited (www.deltronindia.com)
Contract
manufacturing with fully automated facilities for insertion and surface mount
PCB/Electronic Board Assembly.
Thermadyne Pvt. Ltd.
Clean
room equipment and HEPA filter manufacturer. Laminar Floor Benches, Chemical
Stations, Air Showers and Turnkey Clean Area Facilities to Class 1000.
Manufacturing facilities are concentrated in North India in
Products and
Specifications
SPECIFICATIONS
Input and Output
Voltages
As applicable/specified by customer
Frequency
- 50 Hz (Europe and Asia)
- 60 Hz (
Power Rating
Upto 1000VA
The 4VA to 100 VA range is a CSA Certified (NRTL/C) these products
adhere to CLASS 531101 - Power Supplies – Class 2, and CLASS 531181- Power
Supplies direct plug-in Certified to U.S. Standards, conforming to the UL506 and
CAN/CSA-C22.2 Standards.
APPLICATIONS
Home Appliance, Entertainment Electronics (TV, Audio), Microwave Oven,
Emergency Lights, Adapters, Power Supplies, Power Conditioning, Telecom, UPS,
Information Technology Products.
SPECIFICATIONS
Input Power/Bias/Inductance
As per application/customer specification
Mechanical size
As Per customer specification
Mounting
PCB pin mountable
Output Frequency
upto 50 KHz as per customer specification/application
APPLICATIONS
Widely used in SMPS, Computers, Telecommunication Equipment, Electronic
Ballast, Consumer Electronics such as TV, VCR, Audio/Stereo and other similar
applications.
3.0 ADAPTERS
SPECIFICATIONS
Input Voltage
110V-120V, 220V-240V or as specified
by customer, applications dependent
Input/Output Frequency
-50 Hz, 60 Hz
Output Voltage-
AC to AC - Output range 1.5V to 24V
AC to DC - Output range 1.5V to 24V
Mountings
Direct Plug-in for all international standard types (USA, Europe, Asia and
specials)
Plug-in with Moulded Cord per international
standard types (USA, Europe, Asia and specials)
matching the power rating
Size
Application dependent per industry norms
Standards
All 4VA to 100VA Transformers (110-120V, 220-240V) are CSA Certified. These
products adhere to CLASS 531101 - Power Supplies – Class 2, and CLASS 531181-
Power Supplies direct plug-in Certified to U. S. Standards, conforming to the
UL506 and CAN/CSA-C22.2 Standards
FEATURES
1. Built for heavy duty
usage (continuous 24 hrs)
2. Low eddy current loss by use of thin laminations
3. Fuse and MOV options
4. Output indicator LED option
APPLICATION
All purpose AC to AC or AC to DC step down from normal supply voltage (220V,
110V) to circuit required voltage 1.5V to 24V are standard, specials available.
Packages and leads to match application.
Package
Customer specific, PCB Mountable
Wattage
3W to 100W
Contact Forms
NO (Normally Open)
NC (Normally Closed)
CO (Change Over)
Nominal Voltage
5V to 48V
Current Capability
Upto 5A across contacts
Switching Time
1 m sec to 10 m sec
FEATURES
1. Compact Design
2. Hi mechanical strength
3. Hi isolation
4. Magnetically shielded
5. Wide range of coil resistance from 62 ohms to over 15K ohms
6. Low power drains
7. Hermetically sealed in case of reed/proximity switches
APPLICATION
REED RELAYS
Hi
Reliability switching application with guaranteed run-in for one (1) million
operations in harsh environment. Good for all switching applications including
telecom, instrumentation, computer, medical, avionics, home appliances and
industrial use. Auto PCB insertable with a wide range of coil resistances,
nominal coil voltage 5V to 48V standard range, specials on request, package and
pin counts to match application.
REED/PROXIMITY SWITCHES
Widely
used in Security Systems, Liquid Level Controllers, Position Detectors, Control
and Measuring Equipment. DEPL supplied Reed Switches are Hermitically Sealed
and good for hazardous environment -ve 550 to +ve 1250 upto
98% humidity (at +ve 650 C)
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 40.69 |
|
|
1 |
Rs. 81.87 |
|
Euro |
1 |
Rs. 55.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
5 |
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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 |
|