MIRA
INFORM REPORT
|
Report Date : |
19.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
NMTRONICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
319-311, Prakash Deep Building, Tolstoy Marg, New Delhi – 110 001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
04.06.1999 |
|
|
|
|
Com. Reg. No.: |
55 –100086 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1999PTC100086 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELN03686E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCN1271A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is provider of machines, Solutions and Services to the Electronic
Manufacturing Industry. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 105000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Sojitz Corporation Japan. Available
information indicates high financial responsibility of the company. Trade
relations are fair. Financial position is good. Payments are reported as correct
and as per commitments. The company is doing well It can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
319-311, Prakash Deep Building, Tolstoy Marg, New Delhi – 110 001 |
|
Tel. No.: |
91-11-23315325 / 23714260 / 23714260 / 41520040 |
|
Fax No.: |
91-11-23323744 / 23318343 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
SDF No. C-2, Noida Special Economic Zone,
Noida Dadri Road, Phase II, Noida
– 201 305, U.P. India. |
|
Tel. No.: |
91-120-3043040 / 3043041 |
|
Fax No.: |
91-120-3043042 |
|
|
|
|
Head Office: |
Flat No. 104- 106, Durga Complex, 1st
floor, Plot No. 11, Pocket –B, Lsc, Mayur Vihar Phase – II, Delhi – 110 091,
India |
|
|
|
|
Branches : |
·
108, First Floor, Sophia's Choice ·
11 th Floor, Block C and D, Ega Trade Centre, ·
308, A-wing , Sagartech Plaza, ·
A-Block, 304, Anusuya Enclave, |
DIRECTORS
|
Name : |
Mr. E Dchi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M Hirakawa |
|
Designation : |
Director |
|
Address : |
441 -404, Hokuryo –CHDS, Ota – Ku, Tokyo – 145 0073, Japan |
|
|
|
|
Name : |
Mrs. Soni Saran Singh |
|
Designation : |
Director |
|
Address : |
House No. 158, Sector – 5, Gurgaon – 122 001, Haryana, India |
|
Date of Birth/Age : |
02.08.1967 |
|
Date of Appointment : |
26.08.2003 |
|
|
|
|
Name : |
Mr. Tatasuyuki Shimizu |
|
Designation : |
Director |
|
Address : |
205 River Valley Road, # 14-52, UE Squae, Singapore – 238 274, NA |
|
Date of Birth/Age : |
14.04.1970 |
|
Date of Appointment : |
14.12.2006 |
KEY EXECUTIVES
|
Name : |
PWR Associates |
|
Designation : |
Company Secretary |
|
Address : |
13, Indra Vihar , Near Kingsway Camp, Delhi – 110 009, India |
|
Tel No: |
91-22-27655469 |
|
Email: |
|
|
|
|
|
Name : |
Mr. S P Arora |
|
Designation : |
Senior Business Manager |
|
|
|
|
Name : |
Mr, Anoj Kumar Singh |
|
Designation : |
Business Development Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. E Ochi |
|
1 |
|
Mr. M Hirakawa |
|
1 |
|
Sojitz Corporation |
|
299998 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Foreign holdings (Foreign institutional
investor, Foreign companies, Foreign financial institution, Non – resident Indian
or Overseas corporate bodies or Others. |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is provider of machines, Solutions and Services to the
Electronic Manufacturing Industry. |
|
|
|
|
Products : |
· Fuji Machnies · Speedline Technologies · Nutek · JRC · Koh Young · Valor |
GENERAL
INFORMATION
|
Customers : |
· American Power Conversion · Alcatel India Limited · D Link Limited · Philips India Limited · Iti Limited · Basant India Limited · Videcocon · Bharta Electronics Limited · Himachal Futristic Communication Limited · Nest Power Electronics Private Limited · Vital Electronics And Manufacturing Company · ITEL Industries Private Limited · Smile Electronics Limited · Elcot Power Control Limited · Celetronix India Private Limited · Barco Electronic System (Private Limited) · Bharat Heavy electrical Limited · Deltron Limited · Fibcom India Limited · Unisound Private Limited · HTL Limited |
|
|
|
|
Bankers : |
NA |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
SR Batliboi and Associates Chartered Accountants |
|
Address 1 : |
Golf View corporate Tower B , Near DLF Golf course, Sector 42, Sector
Road, Gurgaon – 122 002, Haryana,
India |
|
Address 2: |
B -26, Qutab Institutional Area, New Delhi – 110 016, India |
|
|
|
|
Holding Company: |
Sojitz Corporation |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity shares |
Rs. 10/- each |
Rs. 6.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
585000 |
Equity shares |
Rs. 10/-
each |
Rs. 5.850
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.850 |
3.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
20.382 |
8.668 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
26.232 |
11.668 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1.977 |
0.000 |
|
|
2] Unsecured Loans |
|
4.074 |
0.000 |
|
|
TOTAL BORROWING |
|
6.051 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.037 |
0.128 |
|
|
|
|
|
|
|
|
TOTAL |
|
32.320 |
11.796 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
15.204 |
3.839 |
|
|
Capital work-in-progress |
|
0.000 |
0.937 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
21.875 |
0.695 |
|
|
Sundry Debtors |
|
15.639 |
5.799 |
|
|
Cash & Bank Balances |
|
8.097 |
4.345 |
|
|
Other Current Assets |
|
0.146 |
0.000 |
|
|
Loans & Advances |
|
8.655 |
3.828 |
|
Total
Current Assets |
|
54.412 |
14.667 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
33.655 |
5.040 |
|
|
Provisions |
|
3.641 |
2.607 |
|
Total
Current Liabilities |
|
37.296 |
7.647 |
|
|
Net Current Assets |
|
17.116 |
7.020 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
32.320 |
11.796 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
48.868 |
35.130 |
|
Other Income |
|
0.403 |
0.074 |
|
Total Income |
|
49.271 |
35.204 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
3.659 |
4.631 |
|
Provision for Taxation |
|
2.551 |
1.761 |
|
Profit/(Loss) After Tax |
|
1.108 |
2.870 |
|
|
|
|
|
|
Export Value |
|
2.256 |
0.000 |
|
|
|
|
|
|
Import Value |
|
29.903 |
1.133 |
|
|
|
|
|
|
Total Expenditure |
|
45.612 |
30.573 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
4.57 |
8.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
7.48 |
13.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.25 |
23.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.13 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.65 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.45 |
1.91 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Subject is India's leading provider of machines, Solutions and Services to the
Electronic Manufacturing Industry. They are a
100% subsidiary of SOJITZ Corporation – Japan. Since their
inception in 1999, they have consistently striven to adhere to their high quality
standards. Driven by their customer centric corporate Philosophy and aided by
world class quality products and efficient after sales and support services,
they are acknowledged as the undisputed leaders in their field today with world
class equipment manufacturer partnership. Total Quality Management is the
cornerstone of Subject success and consistent progress.
They have the most efficient team to provide the best and excellent services to
their customers. They have number of offices spreaded throughout the country.
All these elements synergise into a formidable force that spurs the
company towards fulfilling its vision of being “The single window solutions for
the Electronic Manufacturing Industry in the Indian Market”.
History, Milestones and Highlights of NMTronics’ Progress
A decade of dedication to excellence has resulted in NMTronics
fast-paced growth.
The highlights of the company’s progress are:
· 1992- Founded as Nichimen Corporation, the company was first set up to supply FUJI
· SMT Machines to the Indian market.
· 1999- Incorporated NMTronics India Private Limited with Corporate Office at New Delhi.
· 2000- Set up a branch office at Bangalore.
· 2001- Added Agilent Test Business in NMTronics Portfolio.
· 2002- Added Testel Fixtures Business In NMTronics Portfolio.
· 2004- Set up a branch Office at Mumbai.
· 2004- Refurbishment and Technical Center at Noida.
· 2006- Largest Exhibitor at Componex 2006.
Customer
Subject view of its business is shaped by the needs and aspirations of
its customers. With a strong focus on providing quality, a more corporate
efficient working style and the harnessing of technological advances,
Subject today sells its SMT Machines to
the most prestigious and demanding customers all over the country.
· American Power Conversion
· Alcatel India Limited
· D Link Limited
· Philips India Limited
· Iti Limited
· Basant India Limited
· Videcocon
· Bharta Electronics Limited
· Himachal Futristic Communication Limited
· Nest Power Electronics Private Limited
· Vital Electronics And Manufacturing Company
· Itel Industries Private Limited
· Smile Electronics Limited
· Elcot Power Control Limited
· Celetronix India Private Limited
· Barco Electronic System (Private Limited)
· Bharta Heavy electrical Limited
· Deltron Limited
· Fibcom India limited
· Unisound Private Limited
· HTL Limited
Subject view of its business is shaped by the needs and aspirations of
its customers. With a strong focus on providing quality, a more corporate
efficient working style and the harnessing of technological advances,
Subject today sells its SMT Machines to
the most prestigious and demanding customers all over the country.
· Nsp Electronics Limited
· Micron D Private Limited
· Minda Stoneridge Instrumentation Limited
· Flextronics Tech
· Solectron Centum Electronics Limited
· Hindustan Aeronautics Limited
· Jabil Circuit India Private Limited
· Sgs Tekniks Private Limited
· Xo-Infotech
· Mitsubishi
· General Electrical
· Premier Instruments and Controls Limited
· Flextronics Tech
· Solectron Centum Electronics Limited
· Hindustan Aeronautics Limited
· Tvse Services.
· Saharsa Electronics.
· Rangsons Electric Private Limited
· Rishabh Instruments Private Limited
·
Genus Overseas Electronics Limited
Product Range:
Subject view of its business is shaped by the needs and aspirations of
its customers.
FUJI MACHINES
· Fuji Aim
· Nxt-Series Flexible and High Speed Multi Function Modular Placing Machine
· Xp-143e High Speed Compact Chip Shooter;
· Xp-243e Compact Multi-Purpose Mounter
· Accel
· Camalot
· Electovert(Cleaning System, Wave Soldering Machines, Reflow Soldering Machines, Others)
· MPM
JRC
VALOR
· Tracexpert - Real-Time SMT-Line Control
· Tracexpert Is Machine Vendor Neutral
· Valor Denmark A/S - Home Of Tracexpert
· Trilogy 5000 Virtual Prototyping And CAM System
NUTEK
· KY-3020T
· SB-3000
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 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.39.49 |
|
UK Pound |
1 |
Rs.78.33 |
|
Euro |
1 |
Rs.56.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
56 |
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 |
|