MIRA
INFORM REPORT
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Report Date : |
28.08.2007 |
IDENTIFICATION DETAILS
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Name : |
FROG CELLSAT PRIVATE LIMITED |
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Registered Office : |
D- 24, Nilamber Apartment, Sainik Vihar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.07.2004 |
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Com. Reg. No.: |
127530 |
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CIN No.: [Company
Identification No.] |
U51909DL2004PTC127530 |
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IEC No.: |
4105000055 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTF00145F |
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PAN No.: [Permanent
Account No.] |
AAACF8366P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged
in providing consultancy on the Indian Telecom Industry. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 7800 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track
records. Scale of business is small. Trade relations are reported as fair.
Payments are reported as slow but correct. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
D- 24, Nilamber Apartment, Sainik Vihar, |
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Tel. No.: |
91-11-22440799 |
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Fax No.: |
91-11-22440799 |
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E-Mail : |
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Head Office: |
3/1061, Vasundhara, |
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Mobile No.: |
91-9311234470, 9313488892 |
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Contact Person: |
Mr. Ajay Pathak / Mr. Abhinav Sharma |
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Corporate Office : |
3 / 1304, Vasundhara, |
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Tel. No.: |
91-120-3951702 |
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Fax No.: |
91-120-2884035 / 91-9811422415 |
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E-Mail : |
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Website: |
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Branches: |
Mumbai Office: 26 / 402, NRI Complex Neru, Seawoods Estates, Navi Mumbai 400 706, Mobile No.: 91-932448983 Contact Person: Mr. Nagaraju Venna / Mr. Kusuma Sreekar 87, Greater Tirupati Colony, Mobile No.: 91-9229686247 Contact Person: Mr. Akash Srivastava Kolkata Office: Mobile No.: 91-9903898225, 9883214518 Contact Person: Mr. Anupam Baral /Mr. Ajitabh Singh Pune Office: C/o Mr. Ashok Bhosale 129, Om Sidhhivinayak Housing Society, Contact Person: Mr. Parag Fedajwar / Mr. Omprakash Shukla C/o Sudhir M. Kulkarni Flat No. 47, Contact Person: Mr. Nagaraj Kulkarni |
DIRECTORS
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Name : |
Mr. Konark Trivedi |
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Designation : |
Director |
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Address : |
3 / 1304, Vasundhara, |
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Mobile No.: |
91-9311566275 |
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Date of Birth/Age : |
21.09.1973 |
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Qualification : |
BE (Electronics and Telecom) |
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Experience : |
12 years |
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Date of Appointment : |
12.07.2004 |
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Name : |
Ms. Sonal Trivedi |
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Designation : |
Director |
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Address : |
3 / 1304, Vasundhara, |
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Date of Birth/Age : |
10.05.1978 |
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Qualification : |
MA (Physicology) |
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Experience : |
4 years |
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Date of Appointment : |
12.07.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Konark Trivedi |
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9500 |
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Ms. Sonal Trivedi |
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500 |
Equity shares breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged
in providing consultancy on the Indian Telecom Industry. |
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Agencies Held: |
v
Unity
Wireless v
Schema
Cellnets v
Infogin |
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Imports : |
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Products : |
v Repeater v TMA v Software |
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Countries : |
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PRODUCTION STATUS
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Products |
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Installed
Capacity |
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TMA |
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10000 |
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Repeaters |
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6000 |
GENERAL INFORMATION
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Customers: |
End Users |
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No. of Employees : |
42 (Office: 12; Branch: 30) |
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Bankers : |
Ø
ABN Amro Bank
Sector – 18, Noida, Ø
HSBC Bank Ø
Kotak Mahindra |
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Facilities: |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajan K Gupta and Company Chartered Accountants |
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Address : |
19, Chawla Complex, A – 215, Shakarpur, |
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Tel. No.: |
91-11-32988450 |
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Fax No.: |
91-11-22440799 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10.00 each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10.00 each |
Rs. 0.100 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.854 |
0.233 |
0.137 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.954 |
0.333 |
0.237 |
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LOAN FUNDS |
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1] Secured Loans |
0.902 |
0.000 |
0.000 |
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2] Unsecured Loans |
2.101 |
0.990 |
0.000 |
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TOTAL BORROWING |
3.003 |
0.990 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.035 |
0.027 |
0.014 |
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TOTAL |
4.992 |
1.350 |
0.251 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.361 |
0.315 |
0.183 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.033
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0.173 |
0.238 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
6.217
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1.009 |
0.150 |
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Total
Current Assets |
6.250
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1.182 |
0.388 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.671
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0.113 |
0.254 |
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Provisions |
0.952
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0.042 |
0.076 |
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Total
Current Liabilities |
2.623
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0.155 |
0.330 |
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Net Current Assets |
3.626
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1.027 |
0.058 |
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MISCELLANEOUS EXPENSES |
0.005 |
0.008 |
0.010 |
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TOTAL |
4.992 |
1.350 |
0.251 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
2.712 |
0.000 |
0000 |
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Professional Receipt |
7.563 |
2.816 |
1.365 |
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Other Income - Rent |
0.291 |
0.000 |
0.000 |
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Total Income |
1.566 |
2.816 |
1.365 |
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Profit/(Loss) Before Tax |
2.611 |
0.151 |
0.227 |
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Provision for Taxation |
0.990 |
0.055 |
0.090 |
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Profit/(Loss) After Tax |
1.621 |
0.096 |
0.137 |
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Earnings in Foreign Currency : |
NA |
2.816 |
0.000 |
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Expenditures : |
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Financial Charges |
0.000 |
0.005 |
0.001 |
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Depreciation |
0.201 |
0.100 |
0.005 |
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Purchase /consumables |
1.566 |
0.000 |
0.000 |
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Other Expenditures |
6.188 |
2.455 |
1.126 |
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Total Expenditure |
7.955 |
2.560 |
1.132 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
103.51
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3.40 |
10.03 |
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Net Profit Margin (PBT/Sales) |
(%) |
96.28
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5.36 |
16.63 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.72
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10.08 |
39.75 |
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Return on Investment (ROI) (PBT/Networth) |
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1.34
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0.45 |
0.95 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.88
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3.43 |
1.39 |
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Current Ratio (Current Asset/Current Liability) |
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2.38
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7.62 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
v
Furniture
v
Computer
v
Inverter
v
Car
v
Printer
v
Washing Machine
v
Office Equipments
Website Details:
Business
Subject engaged in the business of providing consultancy on the Indian
Telecom Industry. The prime clients of Frog Cellsat are the International
companies in the field, of Cellular and Satellite communication, having
interest in doing business in
Frog Cellsat has got expertise in the field of
Key Strength
The Key Strengths of Frog Cellsat are:
Technical know-how on:
CDMA and GSM Technology for Cellular Mobile communication
DVB / RCT, Wi-Fi and Wi-Max Technology for Wireless communication
TDM / TDMA and SCPC DAMA Technology for Satellite communication
Knowledge of Regulations in Indian Market for
CDMA and GSM Networks
Wireless Networks
Satellite Communication Networks
Knowledge of Market needs, Industry Players and their strategy in
Cellular, Wireless and Satellite communication field.
Customers and their Business
Currently Frog Cellsat is engaged with following companies:
Celletra Limited,
Belcom Microwaves Limited,
New Japan Radio Company Limited,
Celletra Limited
Celletra's mission is to deliver coverage and capacity enhancement
solutions for cellular networks, allowing operators to extend their existing
network capabilities.
Celletra’s clients benefit from the company’s expertise in coverage
optimization of cellular networks. Celletra’s proficiency lies in microwave
product design, antenna propagation enhancements and delivering cutting-edge
solutions with the swiftest ROI. Celletra's products have been successfully
incorporated within network systems for leading careers worldwide.
Celletra Contact:
Mr. Michael Manor
Executive Vice President
Celletra Limited
P.O
Yokne'am Ilit, 20692
Tel: +972-4-9593914
Fax: +972-4-9592523
EMail: mmanor@celletra.com
Belcom Microwave Limited
Belcom Microwaves is a global leader in transceiver development and
manufacturing for the global wireless communications industry.
Formerly known as Optomic Microwaves Limited, Belcom has gained an
industry wide reputation for delivering top quality solutions based on
technological innovation, cost effective manufacturing capabilities and
stringent quality control processes
Belcom Contact:
Mr. Benny Livny
CEO
Belcom Microwaves Limited
Tel: +972-4654-5440 Ext 240
Fax: +972-4654-5382
Email: bennyl@belcom.co.il
New Japan Radio Company Limited
New Japan Radio (NJRC) offers products and services meeting the needs of
the “multimedia and ubiquitous computing era” by combining their “microwave
technology” to carry information and “semiconductor technology” to process
information. NJRC believe that the pursuit of growth and efficiency supporting
their highly information-based society is critical to achieving high profits.
Microwave application products division of NJRC, covers the following
products; satellite communications, satellite broadcasting, terrestrial
communications, and others (sensor modules). The main products of each field
are broadband outdoor unit; C-band (5 to 6 GHz) transmitters, Ku-band (14 GHz)
transmitters, and Ka-band (30 GHz) transmitters; 26 GHz transceivers; and
K-band (24 GHz) direct oscillation Doppler sensor modules.
NJRC hold more than 70% market share in the Satellite communication product
range that they produce.
NJRC Contact:
Mr. Koji Takahashi
Sales Manager - Microwave Components Div
1-1,
City Saitama, 356-8510
Tel: +81-492-78-1270
Fax: +81-492-78-1234
Email: ktakahas@njr.co.jp
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.98 |
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1 |
Rs. 82.67 |
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Euro |
1 |
Rs. 56.02 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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27 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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