MIRA
INFORM REPORT
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Report Date : |
01.02.2007 |
IDENTIFICATION DETAILS
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Name : |
RAJKAMAL ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
1-1-188/13, Chhikkadpally, Hyderabad
- 500020, Andhra Pradesh, India |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date of Incorporation : |
20.02.1992 |
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Com. Reg. No.: |
01-13880 |
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CIN
No.: [Company
Identification No.] |
U29309AP1992PTC013880 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
HYDR01053D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in electronic goods. |
RATING
& COMMENTS
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MIRA’s Rating : |
Ba |
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 40000 |
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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 well
established company having satisfactory track. Directors are reported as
experienced, respectable and having satisfactory means of their own. Their
trade relations are fair. General financial position is satisfactory.
Payments are correct and as per commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
1-1-188/13, Chhikkadpally, Hyderabad
- 500020, Andhra Pradesh, India |
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Tel.
No.: |
91-40-23445353
/ 54 / 33 / 44 |
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Mobile
No.: |
91-9849963355
(Ms Madhavi) |
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Fax
No.: |
91-40-23445356 |
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Area
: |
Rented |
DIRECTORS
|
Name : |
Mr. Kamlesh H. Shah |
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Designation : |
Managing Director |
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Name : |
Mr. Rajesh H. Shah |
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Designation : |
Director |
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BUSINESS
DETAILS
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Line of Business : |
Trading in electronic goods. |
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Agencies Held : |
SAMSUNG |
GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Venkatram & Company Chartered Accountants 1-10-63/16, Chikoti Gardens,
Begumpet, Hyderabad-500016,
Andhra Pradesh |
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Tel. No.: |
91-40-27762235 |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs.100/- each |
Rs.
10.000 millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
74,900 |
Equity Shares |
Rs.100/- each |
Rs.
7.490 millions |
FINANCIAL DATA
[all
figures are in Rupees Millions]
Ms Madhavi of the
company parted with latest financials.
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.490 |
5.000 |
5.000 |
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3] Reserves & Surplus |
2.613 |
1.918 |
1.272 |
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NETWORTH
|
10.103 |
6.918 |
6.272 |
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LOAN FUNDS |
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1] Secured Loans |
25.924 |
23.425 |
16.236 |
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2] Unsecured Loans |
15.047 |
11.747 |
-- |
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TOTAL BORROWING
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40.971 |
35.172 |
16.236 |
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DEFERRED TAX LIABILITIES |
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TOTAL
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51.074 |
42.090 |
22.508 |
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APPLICATION OF
FUNDS
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FIXED ASSETS [Net
Block]
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12.900 |
11.579 |
6.495 |
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Capital
work-in-progress
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0.000 |
0.000 |
0.000 |
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INVESTMENT
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0.500 |
0.500 |
0.500 |
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DEFERREX TAX
ASSETS
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CURRENT ASSETS,
LOANS & ADVANCES
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Cash & Bank
Balances
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0.000
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Other Current
Assets
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36.545
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Loans &
Advances
|
0.058
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0.097
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2.913
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Total
Current Assets
|
61.871 |
43.304 |
39.458
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Less : CURRENT LIABILITIES & PROVISIONS
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Current
Liabilities and Provisions
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24.257
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13.352
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24.005
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Total
Current Liabilities
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24.257 |
13.352 |
24.005
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Net Current Assets
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37.614 |
29.951 |
15.453
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MISCELLANEOUS
EXPENSES
|
0.060 |
0.060 |
0.060 |
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TOTAL
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51.074 |
42.090 |
22.508 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover
[including other income]
|
329.850 |
243.309 |
198.814 |
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Profit/(Loss)
Before Tax
|
0.928 |
0.835 |
0.299 |
Provision for
Taxation
|
0.233 |
0.190 |
0.125 |
Profit/(Loss)
After Tax
|
0.695 |
0.645 |
0.174 |
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Total Expenditure
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326.650 |
240.868 |
197.101 |
KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
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|
0.21
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0.26
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0.09 |
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Net
Profit Margin(PBT/Sales)
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0.28
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0.34
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0.15 |
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Return
on Total Assets(PBT/Total Assets}
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1.24
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1.52
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0.64 |
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Return
on Investment (ROI)(PBT/Networth)
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0.09
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0.12
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0.05 |
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Debt Equity Ratio(Total Liability/Networth)
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6.45
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7.01
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6.42 |
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Current Ratio(Current Asset/Current Liability)
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2.55
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3.24
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1.64 |
LOCAL
AGENCY FURTHER INFORMATION
The turnover achieved
in Rs. 243.309 millions and the net profit after taxes is Rs. 0.646 millions
which is carried forward to the next year.
The company’s fixed
assets of important values :
- Furniture
- Computer
- Scooter
- Generator
- Typewriter
- Electrical Fittings
- EPABAX
- Air Conditioner
- UPS Systems
- Westron C C TV
- Renovation
- Fax Machine
- Camera
- Santro Car
- Sign Boards
- Office Equipment
The company acts as distributors of consumer durables and
electronic products.
Generic Name of Principal Product/Service of the company
are:
- Electronics Products
CMT REPORT [Corruption,
Money laundering & Terrorism]
The Public Notice
information has been collected from various sources including but not limited
to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No records exist designating subject or
any of its beneficial owners, controlling shareholders or senior officers as
terrorist or terrorist organization or whom notice had been received that all
financial transactions involving their assets have been blocked or convicted,
found guilty or against whom a judgement or order had been entered in a
proceedings for violating money-laundering, anti-corruption or bribery or
international economic or anti-terrorism sanction laws or whose assets were
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration :
No
records exist to suggest that subject is or was the subject of any formal or
informal allegations, prosecutions or other official proceeding for making any
prohibited payments or other improper payments to government officials for
engaging in prohibited transactions or with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal Records
No available information exist that suggest that subject or
any of its principals have been formally charged or convicted by a competent
governmental authority for any financial crime or under any formal
investigation by a competent government authority for any violation of
anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation with Government :
No record exists to suggest that any director or indirect
owners, controlling shareholders, director, officer or employee of the company
is a government official or a family member or close business associate of a
Government official.
9] Compensation Package :
Our market survey revealed that the amount of compensation
sought by the subject is fair and reasonable and comparable to compensation
paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part
of its Due Diligence do provide comments on Corporate Governance to identify
management and governance. These factors often have been predictive and in some
cases have created vulnerabilities to credit deterioration.
Our Governance
Assessment focuses principally on the interactions between a company’s
management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject is not known
to have contravened any existing local laws, regulations or policies that
prohibit, restrict or otherwise affect the terms and conditions that could be
included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.44.17 |
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UK Pound |
1 |
Rs.86.66 |
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Euro |
1 |
Rs.57.25 |
SCORE
& RATING EXPLANATIONS
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SCORE
FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
|
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 |
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 |
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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 |
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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/normal. |
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 |