MIRA INFORM REPORT
|
Report
Date : |
08.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
DEKI ELECRONICS LIMITED |
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Registered
Office : |
131-132, Somdutt Chambers – 1, 5, Bhikaji Cama
Place, New Delhi – 110 066 |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
23.01.1978 |
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Com.
Reg. No.: |
55-8845 |
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CIN
No.: [Company
Identification No.] |
U32109DL1978PLC08845 |
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IEC
No. |
2588118320 dated 19.08.1998 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
DELD00348F |
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Legal
Form : |
Subject is a closely held public limited
liability Company. |
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Line
of Business : |
Manufacturers, Exporters and Importer of Plastic Film
Capacitors. |
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
250000 |
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Status
: |
Good |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well established company having satisfactory
track. Directors are reported as experienced, respectable and resourceful
industrialists. Their trade relations are fair. Financial position is good.
Payments are correct and as per commitments. The company can be considered good for normal business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered
Office : |
131-132, Somdutt Chambers – 1, 5, Bhikaji Cama
Place, New Delhi – 110 066, India |
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Tel.
No.: |
91-11-26186261/26161246/26182867 |
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Fax
No.: |
91-11-26182867 |
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E-Mail
: |
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Website
: |
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Area : |
336 sq.fts |
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Location : |
Rented |
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Administrative
Office / Factory 1 : |
B-20, Sector - 58, District – Gautam Budh
Nagar, Noida – 201 301, Uttar Pradesh |
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Tel.
No.: |
91-120-2584687 / 88 / 2585457 / 58 |
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Fax
No.: |
91-120-2585289 |
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E-Mail
: |
vinod@dekielectronics.com, bali@dekielectronics.com |
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Website: |
http://www.dekielectronics.com |
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Area : |
25000 sq.fts |
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Location : |
Owned |
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Factory
2 : |
D-19, Sector 10, Gautam Budh Nagar, Noida, Uttar Pradesh |
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Tel.
No.: |
91-120-2584687 / 88 |
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Fax
No.: |
91-120-2585289 |
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E-Mail
: |
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Area : |
16000 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Jai Kumar |
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Designation
: |
Whole Time Director |
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Address
: |
160 Munirka Enclave, New Delhi – 110067, India |
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Date
of Birth/Age : |
05.02.1930 |
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Qualification
: |
Msc. Chemistry |
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Experience
: |
55 Years |
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Date
of Appointment : |
31.03.1982 |
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Name : |
Mr. Vinod Sharma |
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Designation
: |
Managing Director |
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Address
: |
160 Munirka Enclave, New Delhi – 110067, India |
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Date
of Birth/Age : |
29.09.165 |
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Qualification
: |
Diploma in Hotel Management |
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Experience
: |
20 Years |
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Date
of Appointment : |
11.08.1992 |
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Name : |
Mr. Charu Sahni |
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Designation
: |
Director |
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Address
: |
160 Munirka Enclave, Delhi |
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Date
of Birth/Age : |
24.05.1969 |
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Qualification
: |
Post Graduate from NIIFT |
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Experience
: |
15 Years |
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Date
of Appointment : |
17.08.1999 |
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Name : |
Mr. Somnath Chatterjee |
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Designation
: |
Director |
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Address
: |
H – 166, Sector 41, Noida |
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Date
of Birth/Age : |
11.03.1961 |
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Qualification
: |
Post Graduate from NIIFT |
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Experience
: |
20 Years |
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Date
of Appointment : |
16.12.2003 |
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Name : |
Mr. Pramod Chawla |
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Designation
: |
Director |
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Address
: |
K – Hauz Khas Enclanve, New Delhi 110016 |
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Date
of Birth/Age : |
16.04.1941 |
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Qualification
: |
Post Graduate MBA |
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Experience
: |
40 Years |
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Date
of Appointment : |
18.08.2005 |
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Name: |
Mr. Ashok Kumar Gupta |
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Designation: |
Director |
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Address: |
18 UPSID Officers Colony, Nawab Ganj, Kanpur |
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Age: |
11.05.1956 |
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Experience: |
25 Years |
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Date
of Appointment : |
28.04.1983 |
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Name: |
Mr. Krishna Kant Dave |
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Designation: |
Director |
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Address
: |
16, Kamla Club, Kanpur, Uttar Pradesh, India |
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Date
of Birth : |
14.11.1943 |
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Date
of Appointment : |
28.05.1987 |
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Date
of Ceasing : |
07.02.2005 |
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Name: |
Mr. Ram Chand |
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Designation: |
Director |
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Address
: |
1 Babar Road, New Delhi, India |
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Date
of Birth : |
01.10.1971 |
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Date
of Appointment : |
26.02.1994 |
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Date
of Ceasing : |
15.03.2005 |
KEY EXECUTIVES
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Name: |
Mr. Jagdeep Singh |
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Designation: |
Secretary |
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Address
: |
J 75 Lakshmi Nagar, Delhi – 110092, India |
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Date
of Birth : |
05.11.1975 |
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Date
of Appointment : |
08.10.2001 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No of Share |
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Mr. Jai Kumar |
506160 |
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Mr. Sharad Kumar |
100 |
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Upstate Industrial Development
Corporation Limited |
109620 |
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Mr. Ashok Kumar Gupta |
26320 |
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Mr. Chandrakant A. Bhageri |
2000 |
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Ms. Sunita A. Bhageri |
2000 |
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Mr. Vijay Kumar Gupta |
8600 |
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Mr. Ramgopal Reddymalli |
2000 |
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Ms. Kusum Jain |
73000 |
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Mr. Vinod Sharma |
16880 |
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Mr. Kiran Gupta |
1850 |
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Ms. Sheelscharu Gupta |
3000 |
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Ms. Usha Gupta |
3000 |
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Ms. Deepika Sharma |
5000 |
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Ms. Shakuntla Kaintkumari |
3400 |
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Ms. Sheela Pandey |
950 |
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Mr. B. Singh |
300 |
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Mr. Amarnath Gupta |
500 |
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Ms. Vimla Agarwal |
1600 |
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Mr. Ram Chand |
127000 |
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Ms. Jaimala Agarwal |
5000 |
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Ms. Ruchika Gupta |
3700 |
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Ms. Charu Gupta |
5000 |
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Ms. Shilpi Agarwal |
1500 |
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Mr. Kripa Shanker |
500 |
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Mr. Sanjay Sahay |
25100 |
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Mr. Om Prakash Agarwal |
16000 |
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Dr. Deepak Dhar |
5000 |
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TOTAL |
955080 |
BUSINESS DETAILS
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Line
of Business : |
Manufacturers, Exporters and Importer of Plastic Film
Capacitors. |
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Products
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Brand
Names : |
DEKI |
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Exports
to : |
Italy, Middle East, South Korea, Europe and Philippines ( Film Capacitors) Italy, Span (Garments) |
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Imports
from : |
Korea, Germany and Taiwan |
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Terms
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Selling : |
Credit up to 30 days and Cash up to 60 days |
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Purchasing : |
L/C and Credit up to 30 days |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Film
Capacitors |
Pieces p.a. |
250.000 million |
168.000 million |
152217490 |
GENERAL INFORMATION
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Customers
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OEM’s and Dealers |
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No. of
Employees : |
226 |
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Bankers
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Canara Bank South Extension, Part – 1, New Delhi – 110049, India |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors
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R. K. Lal & Company Chartered Accountants, 5 & 6, 2nd Floor, Kailash Colony, New Delhi Tel. No. : 91-11-30993977 E-mail : rajeshlal@rajeshlalandco.com Mr. Rajesh Lal Chartered Accountant, B -84, Defence Colony, Delhi – 110024, India |
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Associates/Subsidiaries
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RDC Marketing Private Limited D-9, Sector 10, Noida Line of Business: Job Work Mr. Krishna Investment Private Limited D-9, Sector 10, Noida Line of Busines: Garment Manufacturing Deki Housing Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10 each |
Rs. 30.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No. of
Shares |
Type |
Value |
Amount |
|
955080 |
Equity Shares |
Rs. 10 each |
Rs. 9.550 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
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 |
9.550 |
9.551 |
9.551 |
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2] Share
Application Money |
0.000 |
0.000 |
0.000 |
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3]
Reserves & Surplus |
57.165 |
46.902 |
39.631 |
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4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
66.715 |
56.453 |
49.182 |
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LOAN
FUNDS |
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1]
Secured Loans |
60.927 |
27.602 |
31.391 |
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2]
Unsecured Loans |
15.644 |
12.489 |
10.502 |
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TOTAL
BORROWING
|
76.571 |
40.091 |
41.893 |
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DEFERRED
TAX LIABILITIES |
1.971 |
2.470 |
2.188 |
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TOTAL
|
145.257 |
99.014 |
93.263 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
82.655 |
55.407 |
56.555 |
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Capital work-in-progress
|
0.000 |
1.565 |
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
|
26.077
|
22.298
|
18.739 |
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Sundry Debtors
|
39.207
|
26.611
|
24.559 |
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Cash & Bank Balances
|
6.246
|
7.679
|
4.606 |
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Other Current Assets
|
0.000
|
9.717
|
0.000 |
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Loans & Advances
|
15.509
|
0.000
|
9.154 |
Total Current Assets
|
87.039 |
66.305 |
57.058 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities
|
14.198
|
16.416
|
14.212 |
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Provisions
|
10.340
|
7.960
|
6.125 |
Total Current Liabilities
|
24.538
|
24.376
|
20.337 |
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Net
Current Assets
|
62.501
|
41.929
|
36.696 |
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MISCELLANEOUS EXPENSES
|
0.101 |
0.113 |
0.012 |
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TOTAL
|
145.257 |
99.014 |
93.263 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
209.737 |
155.672 |
125.054 |
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Profit/(Loss) Before Tax
|
18.341 |
14.042 |
12.682 |
Provision for Taxation
|
6.428 |
5.142 |
4.659 |
Profit/(Loss) After Tax
|
11.913 |
8.900 |
8.023 |
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Export Value
|
62.049 |
41.494 |
24.002 |
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Import Value
|
N.A. |
58.740 |
46.007 |
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Total Expenditure
|
191.395 |
141.629 |
112.370 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
5.67
|
5.717
|
6.416 |
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Net Profit Margin
(PBT/Sales) |
(%) |
8.74
|
9.020
|
10.141 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
10.80
|
11.537
|
11.162 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.27
|
0.249
|
0.258 |
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Debt Equity Ratio
(Total
Liability/Networth) |
|
1.51
|
0.432
|
0.414 |
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Current Ratio
(Current
Asset/Current Liability) |
|
3.54
|
2.720
|
2.806 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCDES:
Sung moon
Telecommunications(Korea) and Sung moon Electrics (Korea)
Steiner (Germany) – Films
Taekmyung (Korea)- Foil
B K International Korea- Resin
Avatak (Taiwan) – Paper Tape
Samatron (Korea) -
Lead Wire
TRADE REFERENCES – LOCAL
1.MIRC Electronics
(Onida)
Mr. Kalyankar
KUDUS VILLAGE ON BHIWANDI,
WADE ROAD, TALUKA WADA
2.Indo Asian Fuse Gears Limited
Mr. Vinay Mahendru
A-39, PHASE-II EXTENSION,
DISTRICT-GAUTAM BUDH NAGAR
3.Asian Electronics Limited
Mr. Lalit Bhatia
SURVEY NO.9/2/1-(A),
OUTSIDE OCTROI POST,
VILHOLI
4.Phoenix Lamp
Mr. Atul Gupta
59 A, NEPZ PHASE-II
DIST. GAUTAM BUDH NAGAR
5.Northern Teleinks
Mr. Arun Gupta
B-46, SECTOR-2,
DIST. GAUTAM BUDH NAGAR.
PERFORMANCE
The directors are happy to report
good working results for the year under report. After providing depreciation, the profit for the year is Rs.
14.041 millions. Sales during the year were Rs. 153.100 millions as compared to
Rs. 123.100 millions in the previous year.
Showing a growth of 24.37%.
During the report period, the
company has achieved export turnover of Rs. 41.494 millions [Rs. 25.179 millions
from Capacitors & Rs. 16.316 millions from Garments] are compared to Rs.
24.002 millions [Rs. 17.323 millions from Capacitors & Rs. 6.679 millions
from Garments] in the previous year.
There is growth of 72.87% in export turnover. In the coming financial year, company is expecting better resuls
on export front.
A number of initiatives have been
taken to improve the productivity of the employees at production floor. Investment has also been made to improve the
skills of administrative staff. The
company has installed an ERP package called ‘Navision – designed by Microsoft
U.S.A. this ERP package is in
implementation stage and will be fully operational in the financial year
2005-06.
EXPANSION / DIVERSIFICATION
During the year under report, the company
continued its technology upgradation drive.
In line with this the company has imported some new machines. These machines were imported for upgradation
of technology in winding process and welding process. However there is no change in installed production capacity of
the company. For the coming financial
year, the company has planned a massive expansion in Mylar as well as in
Metallised line.
FUTURE PROSPECTS
Now, Indian Electronics Industry
has entered into zero duty regime. From
1st April, 2005 onwards customs duties on electronic goods [covered
under ITA] as well raw materials have been brought down to zero. The strength and competitiveness of Indian
Electronics Industry is being put on test.
Since customs duties are zero, now some international players are also
expected to come into Indian Electronics market. In this competitive environment, quality of product and services
shall be the mantra of success. In line
with this, the company has planned a massive modernization & expansion drive.
This time the company has planned to increase its production capacity by 300
millions pcs per annum. This
modernization and expansion project is expected to be completed by the end of
September, 2005.
PROJECTIONS FOR 2005-06
This year is a defining moment in
the life of the company. The customs
duty on inputs including raw materials and capital goods and finished
capacitors is zero. It is with pride
that thye report that the company is well prepared to successfully compete in
this globalized economy.
The production for 05-06 are in
line with a growth rate similar to the 20% achieved in the past few years. The current expansion project is aimed at
achieving global scale of production hence increasing their competitiveness.
REPORT ON THE PERFORMANCE OF
2005-06
Sales and production during the
first quarter of the current year are lower than their projected growth rate of
35%. There is a minor decrease in
export turnover and turnover from new products. They expect that in the coming months export sales and sales from
new products shall be in line with their projections.
In this year too, growth in
lighting segment is higher than the other segments. Besides the Lighting, Entertainment and Automotive Electronics
are the next emerging segments. The company
sees huge potential in these two segments.
Some initiatives have been taken to increase their presence in these
segments. They are hopeful of results
in these segments in the coming years.
Progress of their expansion plan
is in line with the schedule. This time
the company is increasing its production capacity by 300 million pcs per
annum. The machines under this
expansion have been partly received in the factory. The project will be implemented by September, 2005.
FINANCE
During the year under report the
company has paid a sum of Rs. 7.329 millions towards installments of long term
loans to Canara Bank. During the same
period, Rs. 4.363 millions had been disbursed to the company as a part of term
loan sanctioned during the year 2002-03. During the year the company has also
applied for additional credit facilities from their bankers in order to meet
the increased working capital requirement.
In addition to that the company has also applied to its bankers for a
term loan of Rs. 33.000 millions to part finance its upcoming expansion
project. Company’s banker on 09.05.2005
has informed that both the credit facilities have been sanctioned to the
company.
Its product range include:
v Plain Polyester film
capacitors
v CDI Capacitors Metallised
Polyester Film Epoxy Coated
v Metallised Polyester
Film Capacitors (Standard Pitch Box Type)
v CDI Capacitors
Metallised Polypropylene Film Epoxy Coated
v Interference Suppression
Capacitors Potted, Flame retardant Box
v AC & Pulse
Metallised Polypropylene Film Capacitors
v Interference Suppression
Capacitors
v Plain Polyester Film
Capacitor (Non inductive) Dip type (Epoxy Coated)
v Film Capacitors
Its major dealers include:
Stockists - Ahmedabad
R.R. Electronics
49, Amra Kunj Apartments, Gurukul Main Road, Mem Nagar
Ahmedabad 380 052
Phone: 079-27451601, 27447188
Email: ravirrelectronics@rediffmail.com
Contact Person: Mr. Ravi Raj
Stockists - Bangalore
Electronika Sales Corporation
16, Narsingapuram Street, Anna Salai, Chennai 600 002
Phone: 044-28587765, 28587165 Fax: 044-28535833
Email: elektron@vsnl.com
Contact Person Mr. Sunil Hasija
Filcon Electronics Private Limited
62A, 'Sri Krishnaiah Building', Electronics City, Hosur Road,
Bangalore 561 229 INDIA
Phone: 080-8520983, 8520984
Fax: 080-8520139, 8520324
Email: filconelec@grabmail.com
Contact Person: Mr. Arvind Rao
Linear Systems
607, 62nd Cross, Fifth Block, Rajaji Nagar, Bangalore 560 010
Phone: 080-23400358, 23304638 Fax: 080-23384517
Email: praveencp@vsnl.net
Contact Person: Mr. Seetharam
Stockists - Chennai
Electronika Sales Corporation
16, Narsingapuram Street, Anna Salai, Chennai 600 002
Phone: 044-28587765, 28587165 Fax: 044-28535833
Email:elektron@vsnl.com
Contact Person Mr. Sunil Hasija
Jothi Electronics
Mathajee Business Complex, No.1, Wallers Lane, Anna Salai
Chennai 600 002
Phone: 044-28533993
Contact Person: Mr. P. Bangarusamy
Stockists - Mumbai
Electromark Devices (Bombay) Ltd.
304, Lotus House, 33-A, New Marine Lines, Mumbai 400 020
Phone: 022-22034545 (10 Lines) Fax: 022-22088003, 22034779
Email: mahavir@electromarkindia.com
Contact Person: Mr. Mahavir Shet
Stockists - Delhi / New Delhi
Capco India
234, Sant Nagar, East of Kailash,
New Delhi 110 065
Phone: 011-26217519, 26469187 Fax: 011-26217519
Contact Person: Mr. Shailendra Sharma
Dewan Radios Pvt. Ltd.
1681/26, Mangal Market, Bhagirath Palace,
Delhi 110 006
Phone: 011-23865190, 23862439 Fax: 011-23869312
Email: sales@dewanradios.com
Contact Person: Mr. Subhash Dewan
Elco Sales Corporation
D-191, Flatted Factory Complex, Okhla,
New Delhi 110 020
Phone: 011-26846356, 26839523 Fax: 011-26924783
Email: elco@now-india.com
Contact Person: Mr P. L.Gulati / Mr. S. P. Arora
Indian Technological Products
15, DSIDC Industrial Scheme-I, Okhla Phase-II
New Delhi 110 020
Phone: 011-26316670, 26310968 Fax: 011-26927490
Email:sales@itpindia.com
Contact Person: Mr. Anil Batra
SSG Electronics Pvt. Ltd.
25-A, South Anarkali, P.O. Street,
Delhi 110 051
Phone: 011-22425374, 22205167 Fax: 011-22458334
Email: ssgelect@mantraonline.com
Contact Person: Mr. Anil Kumar Goel
Awards and recognitions
v The Electronics
Component Industries Association has recognized the work done by Deki and
awarded it with the ELCINA Award of Excellence – 1ST position (in the
turnover below Rs. 200 millions category) MIT Award for the year 2001-02
v During the year under
review the Company has been awarded as “Green Partner” by the Global Sony
Corporation. This recognition is given to the company for the steps taken
towards the protection of environment.
It
imports Polyester Film, Aluminium Foil, Wire, Epoxy Resin, Paper Tap (in 500
meters equivalent rolls) semi finished cap cans from Japan and Korea.
It
exports its finished products to Europe, Hong Kong, Thailand, Malaysia,
Philippines, Israel, the Middle East and South Korea and also sells in the
domestic market.
Its major customers include:
v Sony
v Sanyo
v Sharp
v JVC
v NEC
v Toshiba
v Osram
It is in technical terms with:
v Okaya Electric
Industries Company Limited
Fixed assets :
Land, Building, Plant &
Machinery, Electrical Installations, Machinery, Tools & Equipments, Air
Conditioners, Typewriters, D. G. Sets, Coolers, Fans, Vehicles, Car, etc.
|
Name
of the company |
DEKI
ELECRONICS LIMITED |
|
Presented By |
Canara Bank South Extension, Part – 1, New Delhi – 110049, India |
|
1) Date
and description of instrument creating the change |
Hypothecation
agreement of goods and book – debts dated 10.12.2002, regd. On 07.02.2003, modified
on 10.12.2002, 21.01.2004 and finally on 21.01.2004 and finally on 21.01.2004
for collateral security of stock of all goods other than house acquired under
the limit and all book – debts other than those arising out of the sale of
such goods, all plant and machinery, motor vehicles and tools and accessories
and equitable mortgage of land properties of the company situated at Plot No.
9, Block – D, Sector – X, Noida and 20, Block – II, Sector – 58, Phase – II,
Noida [Uttar Pradesh] for FLC/ DA/ DP] limits of Rs. 7.500 millions with FLC
[DA] limit of Rs. 3.000 millions and HAWB limit for Rs. 3.000 millions as
sub-limits and BG limit of Rs. 2.500 millions aggregating Rs. 10.000
millions, ast modification regd. On 20.02.2004 |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.
15.900 millions |
|
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 stock of plastic film capacitors, current transformers garments and all
other goods and commodities purchased, acquired, received under FLC and Bank
Guarantee limits now lying or hereafter stored company’s godowns, yards and
premises, at D – 9, Sector – X, Noida, B – 20 Sector 58, Noida and 132,
Somdutt Chambers, Bhikaji Cama Place, New Delhi or at any other place[s]
including those in transit and all the book debts outstandings, monies
receivables, claims and bills arising out of the sale disposal of the goods
received under the said credit facilities – both present and future |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
The above is to secure all amounts payable under the
following credit facilities aggregating to Rs. 15.900 millions granted to
enjoyed by the company together with interest @ 17% p.a. at monthly rest or
at such rates would prevail at the time of arising of any liability under the
said limit and all other costs, charges, expenses, commission, etc. : FLC Limit : Rs. 6.500 millions FLC [ST] Limit : Rs. 6.900 millions Bank Guarantee : Rs. 2.500 millions Payable on demand |
|
5) Name
and Address and description of the person entitled to the charge. |
Canara Bank South Extension, Part – 1, New Delhi – 110049, India |
|
6)
Date and brief description of
instrument modifying the charge |
Hypothecation
agreement of goods and book debts dated 17.05.2005 for Rs. 13.500 millions |
|
7)
Particulars of modifications specifying the terms and conditions or the extent
of operations of the charge in which modification is made and the details of
the modification. |
The
charge on stock of all goods acquired under the limit and as details in
schedule of the agreement and all book debts arising out of the sale such goods
– both present and future stands enhanced from Rs. 10.000 millions to Rs.
13.500 millions to secure all amounts payable under FLC [DA/DP] limit of Rs.
12.500 millions with FLC [DA] limit of Rs. 7.500 millions and HAWB limit of
Rs. 5.000 millions as sub-limits and reduced BG limit of Rs. 1.000 millions
together will all interests, costs, charges, expenses, commission, etc.
Interest rate stands changed to 16.25% p.a. Other
terms and conditions remained the same. |
WEBSITE DETAILS ATTATCH:
Profile
Deki Electronics Limited is a company committed to the manufacture of reliable
and internationally competitive plastic film capacitors.
The company was established in technical collaboration with Okaya Electric
Industries Company Limited, Japan in 1984. Deki has since been producing high
quality plain polyester film capacitors, plain polypropylene film capacitors
and metallized polyester film capacitors at its modern, automatic plant
imported from Japan and Korea. The range has been expanded to cover metallized
polypropylene, interference suppression, CDI capacitors, 5.0 and 7.5 mm pitch
box metalized capacitors. (on an Arcotronics line )
Today, Deki is one of the rare capacitor manufacturers offering products based
on Japanese and European technologies. This gives the company unparalleled
flexibility in production.
The company’s quality system is certified under ISO 9001:2000 standards by the
Bureau of Indian Standards the first system approval was received in November
1994. Deki’s capacitors are tested by ERTL to IEC standards and approved by
CacT for telecom applications. They are also approved by OEMs like Sony, Sanyo,
Sharp, JVC, NEC, Toshiba and Osram. The company has an established line of
supply with leading manufacturers of colour TVs, B&W TVs, audio systems,
telephone sets, office automation products, medical electronic equipment,
instrumentation equipment, industrial electronics, computer monitors,
fluorescent and compact fluorescent lamps, automobile electronics, fan
regulators and energy meters.
ELCINA, the Electronics Component Industries Association has recognized the
work done by Deki and awarded it with the ELCINA Award of Excellence —
1st Position (in the turnover below Rs 200 millions category) for the
year 2001-02 and MIT Award. This award was an incentive for all members of the
Deki team and has come as an encouragement towards its vision of being
recognized as a truly global TQM company.
Deki’s capacitors are currently exported to Europe, Hong Kong, Thailand,
Malaysia, Philippines, Israel the Middle East and South Korea. From a 20% share
of turnover today, it is envisaged that this will go up to 30% during the next
year.
On the strength of its commitment to total quality, Deki has established an
enviable reputation in the electronic component industry. Its strength lies in
its employees who strive through continuous effort and teamwork to achieve
satisfaction of their internal and external customers.
Deki has recorded an average growth rate of 29% per year
since 1989-90. Production capacity went up from 15 million capacitors per annum
to 30 million in 1994 and further to 50 million capacitors per annum in 1995.
The current annual installed capacity is 156 million. The capacity of plain
polyester film capacitors is 110 million pieces (the largest in India). The
capacity of metallized capacitors is 46 million pieces out of which box type in
5.0 mm and 7.5 mm pitch is 30 million pieces.
Quality and cost reduction are the major areas of thrust at Deki. The company
has successfully reduced its manufacturing cost without compromising on
quality; possible only by the efforts of all members of the Deki team. The
benefits have been passed on to the customers enabling the company to position
itself as a ‘one-stop shop’ for highly reliable and competitively priced
plastic film capacitors.
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.44.06 |
|
UK Pound |
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.57.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
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 |
|
54 |
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 |
|
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 |