MIRA
INFORM REPORT
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Report Date : |
25.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SRITECH ELECTRONICS AND SYSTEMS PRIVATE LIMITED |
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Registered Office : |
G-1, Ground Floor, Near Sadansri Ramanagar, ECIL Post, Street No. 2, Anupuram,
Hyderabad-500 062, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.07.2005 |
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Com. Reg. No.: |
01- 46963 |
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CIN No.: [Company
Identification No.] |
U72200AP2005PTC046963 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS14279G |
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PAN No.: [Permanent
Account No.] |
AAJCS2198H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Industrial Products, Consumer Products, Computers,
Communication Products, Batteries and Electronic Products. |
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 7872 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track
records. Directors are reported as experienced and respectable businessmen. Trade
relation are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
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LOCATIONS
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Registered Office : |
G – 1, Groung Floor, Near Sadan, Sri Ram Nagar, ECIL Post, Street
No.2, Anupuram, Hyderabad – 500062, Andhra Pradesh, India |
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Tel. No.: |
91-40-27125393 |
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Fax No.: |
91-40-271253932 |
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E-Mail : |
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Website: |
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Head Office : |
Sri krishna Plaza, Mahesh Nagar, ECIL Post, Hyderabad – 500062, Andhra
Pradesh, India |
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Tel. No.: |
91-40-27120727 |
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Fax No.: |
91-40-27125392 |
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E-Mail : |
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Branch : |
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Delhi Office: |
D – 113, East of Kailash, New Delhi - 110065 |
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E-Mail : |
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Bangalore Office : |
No. 179/7-1, Ground Floor, 8th Croxx, 2nd Main,
Weaver’s Colony, RT Nagar Post, Bangalore - 560032 |
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Email: |
DIRECTORS
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Name : |
Mr. N. M. Sridhara |
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Designation : |
Director |
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Address : |
G – 1, Groung Floor, Near Sadan, Sri Ram Nagar, ECIL Post, Street No.2,
Anupuram, Hyderabad – 500062, Andhra Pradesh, India |
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Name : |
Mr. S. Vishwanadha Phani |
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Designation : |
Director |
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Address : |
Plot No 7, Green Park, Enclave Kapra, ECIL Post, Hyderabad – 500062,
India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. N. M. Sridhara |
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7500 |
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Mr. S. Vishwanadha Phani |
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2500 |
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Total |
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10000 |
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Category |
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Percentage |
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Directors or relatives of directors |
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100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Industrial Products, Consumer Products, Computers,
Communication Products, Batteries and Electronic Products. |
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Products : |
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GENERAL
INFORMATION
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Auditors : |
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Name : |
P.R.Reddy and Company Chartered Accountants |
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Address : |
H. No. 07-70/41, Street No.08, Maheshwari Nagar, Habsiguda, Hyderabad
– 500007, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity shares |
Rs.10/- each |
Rs.0.200 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/- each |
Rs.0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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1.430 |
0.000 |
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3] Reserves & Surplus |
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0.438 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.968 |
0.100 |
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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 |
0.625 |
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TOTAL BORROWING |
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0.000 |
0.625 |
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DEFERRED TAX LIABILITIES |
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0.007 |
0.000 |
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TOTAL |
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1.975 |
0.725 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.224 |
0.000 |
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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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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.078 |
0.037 |
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Sundry Debtors |
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6.767 |
0.000 |
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Cash & Bank Balances |
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0.321 |
0.064 |
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Other Current Assets |
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0.433 |
0.015 |
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Loans & Advances |
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0.000 |
0.600 |
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Total
Current Assets |
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7.599 |
0.716 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.739 |
0.006 |
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Provisions |
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0.117 |
0.000 |
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Total
Current Liabilities |
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5.856 |
0.006 |
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Net Current Assets |
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1.743 |
0.710 |
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MISCELLANEOUS EXPENSES |
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0.008 |
0.015 |
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TOTAL |
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1.975 |
0.725 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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15.650 |
0.370 |
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Other Income |
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0.003 |
0.000 |
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Total Income |
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15.653 |
0.370 |
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Profit/(Loss) Before Tax |
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0.731 |
(0.005) |
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Provision for Taxation |
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0.288 |
0.000 |
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Profit/(Loss) After Tax |
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0.443 |
(0.005) |
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Expenditures : |
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Depreciation & Amortization |
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0.016 |
0.000 |
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Financial Charges |
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0.204 |
0.000 |
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Other Expenditure |
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14.702 |
0.375 |
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Total Expenditure |
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14.922 |
0.375 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.83 |
1.35 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.67 |
1.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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9.61 |
0.69 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.97 |
0.06 |
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Current Ratio (Current Asset/Current Liability) |
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0.30 |
118.33 |
LOCAL AGENCY
FURTHER INFORMATION
Website details:
Subject is a leading supplier of rugged computers and displays
optimized for Harsh Environments. Subject specializes in customizing cots
products to meet the specific requirements of Defense, Nuclear power and Space.
With their domain Knowledge and experience, They can offer total solution in
Hardware integration and Software development. Their products include PCI/ISA
based Ruggedized computers, CPCI systems, Rugged Displays for Naval, Army and
Avionic Displays, Rugged Notebook PC, Rugged Tablet PC and Handheld PC etc., We
also supply Scientific Qualified Computers, Displays and Systems for Hazardous
Area applications.
They also have expertise to provide Embedded Hardware platform and Industrial
Grade computer solutions to Transportation, HMI, Medical, GPS, Vehicle tracking
etc…
They generate multiple embedded products lines to help their customers
penetrating the vertical market, especially for digitalized communication
application and mission-critical applications.
Be it an ordinary Industrial grade computer or computer for Rugged Mobile
applications or full MIL Qualified or Seismic Qualified – SRITECH can
manufacture and supply to various levels of resistance for Shock, Vibration,
Dust, Humidity, Temperatures and EMI/EMC.
Enhanced products that quickly and cost-effectively to meet customer’s
technical requirements.
Highly qualified and skilled engineers at Subject are well equipped in
delivering cutting-edge technology solutions with excellent Technical support /
Risk Management. They have Branch offices at Bangalore, Delhi and to offer prompt
support to their valuable customer.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.49 |
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UK Pound |
1 |
Rs.78.33 |
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Euro |
1 |
Rs.56.78 |
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 |
5 |
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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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28 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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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