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MIRA
INFORM REPORT
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Report Date : |
14.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
RADIOWAVES
ELECTRONICS (INDIA) PRIVATE LIMITED |
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Registered Office : |
# 81/3, Opp.
Biotechnology, IIM Post, Hulimavu, Bannerghatta main Road, Bangalore - 560
076, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.12.1999 |
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Com. Reg. No.: |
08-26039 |
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CIN No.: [Company
Identification No.] |
U32107KA1999PTC026039 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRR03917E |
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PAN No.: [Permanent
Account No.] |
AABCR2886P |
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Legal Form : |
Private
limited liability company. |
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Line of Business : |
Manufacturers,
retailers, importers, exporters, dealers, agents, representatives and to
undertake installation, maintenance and servicing, hiring out, of all kinds of
electronic equipments including electronic data processing equipments and
such other activity connected with electronic equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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
5000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having satisfactory track records.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported as
usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
# 81/3, Opp. Biotechnology,
IIM Post, Hulimavu, Bannerghatta main Road, Bangalore - 560 076, Karnataka,
(INDIA) |
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Tel. No.: |
91-80-26580595/26480989 |
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Fax No.: |
91-80-26480987 |
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E-Mail : |
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Website : |
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Corporate Office : |
# 23,
Arunodaya, 22nd Cross, Krishna Layout, BG Road, Bangalore –
560076, Karnataka, India |
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E-Mail : |
DIRECTORS
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Name : |
Mr.
Nelson T V |
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Designation : |
Director
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Address : |
No. 3,
Saurava Babanagar, Behind Weq, Bangalore – 560076, Karnataka, India |
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Date of Birth/Age : |
14.09.1970 |
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Date of Appointment : |
06.12.1999 |
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Name : |
Mr.
Sabu K |
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Designation : |
Director
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Address : |
Flat, #
311 Rifco Santhosh Apartments Wind, Tunnel Road, Off Airport Road, Bangalore
– 560017, Karnataka, India |
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Date of Birth/Age : |
09.08.1965 |
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Date of Appointment : |
06.12.1999 |
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Name : |
Mr.
Sreeraj K T |
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Designation : |
Director
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Address : |
Sreyas,
Kallad P O Irrikkur, Kannur, Kerala |
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Date of Birth/Age : |
11.12.1974 |
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Date of Appointment : |
06.12.1999 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Nelson T V |
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520 |
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Mr. Sabu
K |
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240 |
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Mr.
Sreeraj K T |
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240 |
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Total |
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1000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
retailers, importers, exporters, dealers, agents, representatives and to undertake
installation, maintenance and servicing, hiring out, of all kinds of
electronic equipments including electronic data processing equipments and
such other activity connected with electronic equipments. |
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Products : |
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Exports to : |
Middle East, SAARC Countries & African Countries |
GENERAL
INFORMATION
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Customers : |
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Bankers : |
State
Bank of Hyderabad, Airport Road Branch, Bangalore – 560032, Karnataka, India |
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Banking Relations : |
-- |
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Auditors : |
B S Dinesh
and Associates Chartered
Accountants No.
1371, Sriniketan, 31st B Cross, 4th Block, Jayanagar,
Bangalore – 560041, Karnataka, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 10/- each |
Rs. 1.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.170 |
0.119 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.670 |
0.619 |
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LOAN FUNDS |
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1] Secured Loans |
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0.777 |
0.924 |
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2] Unsecured Loans |
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0.848 |
1.326 |
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TOTAL BORROWING |
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1.625 |
2.250 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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2.295 |
2.869 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.343 |
1.538 |
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Capital work-in-progress |
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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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2.379 |
2.997 |
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Sundry Debtors |
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0.952 |
1.036 |
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Cash & Bank Balances |
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0.039 |
0.201 |
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Other Current Assets |
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0.070 |
0.570 |
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Loans & Advances |
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0.554 |
0.337 |
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Total Current Assets |
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3.994 |
5.141 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.052 |
3.821 |
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Provisions |
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Total Current Liabilities |
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3.052 |
3.821 |
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Net Current Assets |
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0.942 |
1.320 |
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MISCELLANEOUS EXPENSES |
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0.010 |
0.011 |
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TOTAL |
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2.295 |
2.869 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other
income] |
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10.621 |
9.479 |
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Profit/(Loss)
Before Tax |
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0.116 |
0.280 |
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Provision
for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss)
After Tax |
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0.116 |
0.280 |
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Total
Expenditure |
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10.868 |
9.715 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
1.09 |
2.95 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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1.09 |
2.95 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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2.17 |
4.19 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.17 |
0.45 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.31 |
1.35 |
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Current
Ratio (Current
Asset/Current Liability) |
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6.98 |
9.81 |
LOCAL AGENCY
FURTHER INFORMATION
PROFILE
Established in 1999, Radiowaves Electronics India Limited is the leading company
as provider of solutions in RF and Microwave, Optical, Power Transmission, Test
Equipment and Tools. The company has come so far on the premise of its
experience, expertise and commitment to excellence and customer satisfaction.
With immense know-how in arena of the above-mentioned solutions, Radiowaves
Electronics India Limited has undertaken a major initiative in strengthening
its presence across India. They are credited with the best of the quality
certifications. In addition, they also offer price advantage and logistics
support for delivery.
Export
- Cable Assemblies
- Cable Ladders & Accessories
- Mobile Connector (GSM/CDMA)
- Cables
- Attenuators
- Terminations
- Splitters / Dividers
- Combiners
- Antennas
Import
- Semi Finished Connectors
- Coaxial Special Cables
- Parts of Antennas
- Parts of Mobile Products
- Product Info
They will be pleased to undertake any subcategories of the explained product
range also. All their products have the necessary quality certifications including
MIL standards wherever applicable. All warranties are as applicable as per the
original manufacturers warranties and their principal companies.
Their products are
manufactured in adherence to the most respected quality benchmarks. The products
are manufactured under strict vigilance of the experts to ensure total
flawlessness. Moreover, the products are tested at various levels to determine
their conformity with the best quality standards.
They have the following certifications: IS09000, IS09001, MIL-STD-810,
MIL-STD-202, MIL-C-87104
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Corporate
identity number of the company |
U32107KA1999PTC026039 |
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Name
of the company |
RADIOWAVES
ELECTRONICS (INDIA) PRIVATE LIMITED |
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Address
of the registered office or of the principal place of business in India of the company |
# 23,
Arunodaya, 22nd Cross, Krishna Layout, BG Road, Bangalore –
560076, Karnataka, India |
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This
form is for |
Book
Debts, Movable Property |
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Type
of charge |
Equitable
mortgage or mortgage of property by deposition the title deeds |
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Particular
of charge holder |
State
Bank of Hyderabad, Airport Road Branch, Bangalore – 560032, Karnataka, India |
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Nature
of instrument creating charge |
Agreement
of loan for overall limit – form C – 1, dated 17.08.2005 regd with ROC on
27.03.2006 vide Doc. No. 28 |
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Date
of instrument Creating the charge |
11.10.2006 |
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Amount
secured by the charge |
Rs.
0.800 Millions |
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Brief
of the principal terms an conditions and extent and operation of the charge |
Rate
of Interest 11 % Terms
of repayment Repayable
on demand Margin
25 % Extent
and operation of charge Agreement
to continuing security of goods and movable assets. |
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Short
particulars of the property charged |
Hypothecation
of book debts, stocks and machineries lying at company factory at # 83/1, IIM
Post, Hulimavu, Bannerghatta Main Road, Bangalore – 560076, Karnataka, India |
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Particular
of present modification |
Agreement
in form C – 1 and C – 2 present modification cash credit limit enhanced to
Rs. 1.700 Millions and CME credit plus Rs. 0.300 Millions aggregating to Rs.
2.00 Millions rate of interest fixed at 12 % p.a. other terms and conditions remain
same. |
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 |
|
UK
Pound |
1 |
Rs.86.10 |
|
Euro |
1 |
Rs.57.26 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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 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 |
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