MIRA
INFORM REPORT
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Report Date : |
15.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SENLOGIC
AUTOMATION PRIVATE LIMITED |
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Registered Office : |
52,
Gandhi Street, Flat 5D, West Mambalam, Chennai-600033, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.02.2002 |
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Com. Reg. No.: |
18-48405 |
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CIN No.: [Company
Identification No.] |
U28122TN2002PTC048405 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
carry on the business of manufacturers, assemblers, dealers, erectors,
importers, exporters, repairers and traders of all kind s of weigh-bridges,
weighing scales, weighing machines, weighing and measuring instruments,
weights and measures, beam scales, mechanical, hydraulic pneumatic, electrical
and electronic machines, appliances, equipments and instruments and
components and spares are required thereof. To
carry on the business of manufacturers, assemblers, dealers, importers,
exporters, repairers and traders of computers and data processing machines
and systems and also of computer applications and software systems and also
to deal in components and spares thereof. |
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. Directors
are reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are 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 : |
52,
Gandhi Street, Flat 5D, West Mambalam, Chennai-600033, Tamilnadu, India |
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E-Mail : |
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Factory
1 : |
# 6, 4th Street,
Suresh Nagar, Valasaravakkam, Chennai - 600 087,
Tamil nadu, India |
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Tel.
No.: |
91 - 44 - 24865640 ,
24868937 |
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E-Mail
: |
DIRECTORS
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Name : |
Mr. R.
Ravichandran |
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Designation : |
Whole
time Director |
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Address : |
No.52,
Gandhi Street, West Mambalam, Chennai-600033, Tamilnadu |
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Date of Birth/Age : |
21.03.1966 |
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Date of Appointment : |
05.02.2002 |
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Name : |
Mr. R.
Mathivanan |
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Designation : |
Whole
time Director |
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Address : |
No.52,
Gandhi Street, West Mambalam, Chennai-600033, Tamilnadu |
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Date of Birth/Age : |
03.04.1970 |
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Date of Appointment : |
05.02.2002 |
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Name : |
Mr. R.
Sreedevi |
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Designation : |
Whole
time Director |
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Address : |
No.52,
Gandhi Street, West Mambalam, Chennai-600033, Tamilnadu |
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Date of Birth/Age : |
25.12.1972 |
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Date of Appointment : |
05.02.2002 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr. R.
Ravichandran |
3000 |
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Mr. R.
Mathivanan |
3000 |
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Mr. R.
Sreedevi |
4000 |
BUSINESS DETAILS
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Line of Business : |
To
carry on the business of manufacturers, assemblers, dealers, erectors,
importers, exporters, repairers and traders of all kind s of weigh-bridges,
weighing scales, weighing machines, weighing and measuring instruments,
weights and measures, beam scales, mechanical, hydraulic pneumatic,
electrical and electronic machines, appliances, equipments and instruments
and components and spares are required thereof. To
carry on the business of manufacturers, assemblers, dealers, importers,
exporters, repairers and traders of computers and data processing machines
and systems and also of computer applications and software systems and also
to deal in components and spares thereof. |
GENERAL
INFORMATION
|
Customers : |
v
Indian Railways v
Coal India Limited v
BEML v
Acc Limited v
L&T-Komatsu Limited v
Vedanta Group v
Paradeep Phosphate Limited v
Deepak Fertilizers v
Aryan Coal v
I.G. Petrochemicals
Limited |
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No. of Employees : |
About
25 |
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Auditors : |
N.
Palanivelu & Company Chartered
Accountants No.3,
Danieal Street, T-Nagar, Chennai-600017, Tamilnadu, 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 |
|
10000 |
Equity
Shares |
Rs.10/- each |
Rs.0.100 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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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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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.354 |
0.181 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.454 |
0.281 |
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LOAN FUNDS |
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1] Secured Loans |
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0.145 |
0.158 |
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2] Unsecured Loans |
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1.605 |
1.235 |
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TOTAL BORROWING |
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1.750 |
1.393 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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2.204 |
1.674 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.422 |
0.424 |
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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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0.160 |
0.160 |
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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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0.436 |
0.325 |
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Sundry Debtors |
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3.675 |
1.919 |
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Cash & Bank Balances |
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0.222 |
0.396 |
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Other Current Assets |
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0.015 |
0.010 |
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Loans & Advances |
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0.000 |
0.000 |
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Total Current Assets |
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4.348 |
2.650 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.668 |
1.541 |
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Provisions |
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0.077 |
0.043 |
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Total Current Liabilities |
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2.745 |
1.584 |
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Net Current Assets |
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1.603 |
1.066 |
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MISCELLANEOUS EXPENSES |
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0.019 |
0.024 |
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TOTAL |
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2.204 |
1.674 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net
Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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NA |
NA |
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Return
on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt
Equity Ratio (Total
Liability/Networth) |
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9.90 |
10.59 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.58 |
1.67 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details :
Incorporated in February 2002, subject is a
professionally managed company, engaged in the weighing Automation Activities.
A trusted name, subject is one of India's leading
company engaged in the weighing Automation Activities. The company offers a
complete range of products such as In-motion Weighing Systems, On Board
Weighing Systems, from design through implementation to operation and
customized product development.
To remain competitive and meet customers'
expectations, they lay great emphasis on the continuous up gradation of
products and related technologies, and development of new products. Their
commitment to advancement of technology is reflected in their involvement in
the development of customized products and flawless operations.
Technical collaborattion with VEI Group, Italy
Senlogic is authorized technical collaborator of VEI
Group, Italy for providing On Board Weighing System on an open platform. The
company has entered into Joint venture agreement with VEI Group who is a
pioneer in the filed of On Board Weighing system since 1986.
Their products On Board Weighing system MILLS-2 is so
designed to work on all types of pay loaders and forklift trucks available in
their country. The MILLS-2 works with the build hydraulic system and power
supply; therefore, no separate system layout is required. As no moving or
consumable parts are incorporated therefore, maintenance of the system becomes
almost nil. Over and above the system is most users friendly with latest
technical know-how.
Their most modern microprocessor based electronic
weighing system of various models are the best available in India manufactured under
strict quality control to meet the relevant rules and regulations of Weights
and Measures and OIML. Also they have wide after sales service network
operating from different locations to provide fast and prompt service to their
customers. They have bagged major orders for On-Board & In motions weighing
in the recent past from various Indian customers like Railways, Coal India,
Larsen & Toubro, BEML, Komatsu, Vedanta Group, Sundaram Clayton, ACC etc.
Load cells, the integral part of any Weighing System
they are using from the manufactures of World repute like Revere Transducers
inc., Sensortronics, Precision Transducers Inc., Celtron Technologies Inc.,
whose load cells are accepted world wide as the best one. They have supplied
several numbers of Road and Rail Weighbridges to different Government, Public
Sector and Private organizations across the country. Their Products are already
approved by Ministry of Food and Civil Supplies and Consumer Affairs,
Government of India, Directorate of Legal Metrology New Delhi.
Leadership Team :
Mr. M.S. Gujaral, Chairman,
A Veteran administrator having served prestigious
positions viz. Chairman-Railway board, Chairman - Coal India and presently
holding chairmanship in many leading Indian companies
Other Directors
Mr. R. Ravichandran -
Director (Technical)
Mr. R. Mathivanan - Director
Mrs. R. Sreedevi - Director
Infrastructure
Their well-equipped manufacturing units are located in
Chennai and Pondicherry with the
facility of latest and modern test equipment and laboratory. They have a large
number of result oriented Engineering force posted at their various branch
offices located across the country to run at all directions. Needless to say
their main target is to achieve the utmost satisfaction of their customers.
They are mainly focused on rail-in-motion weighing
& on-board weighing system for heavy earth moving equipment and are
proposed to have a high capacity /
volume manufacturing facility at Sriperumpadur, with a green field area
of around 38000 sq ft. Senlogic will have an integrated facility for
manufacturing its products from raw material to finished product.
Senlogic also proposed to have 100 tones dynamic
loading facility for in-house testing of rail sensors.
THEIR STRENGTH
v A Team
of technically qualified and experienced professionals
v Focus
and investment in equipment, manpower and Time for R & D and Design
v Development
& Innovation for complex construction and critical / customized
applications.
Their Services
Subject is engaged in manufacturing, Sales and Service
of all types of Weighing equipment. They supply highly sophisticated Electronic
and mechanical weighing equipment which includes On Board Weighing system,
Automatic Rail weigh bridge, In motion and Static, Electronic Road Weighbridge,
Electronic Weighing Scales with high /medium accuracy and other associated
Weighing equipment. Also, they undertake to manufacture custom built weighing
Systems according to any specific requirements.
In addition, they are also one of the authorized
technical collaborator of VEI Group, Italy, for providing On Board Weighing
System on an open platform .They are a Joint venture company in India with the
VEI Group who is a pioneer in the field of On Board Weighing System since 1986
with good reputation and prompt service backup being the credentials accepted
by the customers world over. Therefore being in India they also promise to be
in the same level beside VEI group.
Site Survey
Requirement Specification
v Controller
Selection
v I/O
Module Estimation
v Communication
Network Selection
v Overall
Network Configuration
v Interface
with third Party Devices
v Reporting
Software
v Operator
Training
Estimation of
v Equipment
required in control room like Cabinets, Consoles etc.
v Erection
materials based on instrument location drawings
v Structural
Steel pipes for instruments supports,cables ducts, trays etc
v Type and
quantity of cables
Proposal Documentation
v Overall
Scope
v Configuration
Diagram
v Major
Equipment Specification
v Proposed
Equipment Layout
v Major
BOM
v Scope of
Services
v Applicable
Standards
v Catalogue
/ Data Sheets
Detailed Design Engineering
Control Automation / Electrical
v General
and Internal Arrangement
v Wiring
Diagram
v Control
Scheme
v BOM with
Specification
v Control
Room Layout
v Cable
Interconnection Diagram
v Power
Consumption Charts
v Consumable
List
v Assembly
Procedure
v SAT
Procedure
v FAT
Procedure
v O and M
Documentation
Instrumentation
Preparation of instrument list from P&I diagrams
Detailed specifications of various instruments, based on the P&I diagrams
and process details Preparation of instrument hook-up drawings, Preparation of
detailed BOM for field work like pipes, fittings, tubes, cables, etc.
Preparation of interconnection diagrams between field and control room
instruments/systems, Preparation of cable schedule for interconnection between
various cabinets and field instruments, Design of shut down and interlock
systems for the Plant, based on details furnished by the Process Engineers, Duct
and cable tray routing
O & M Documentation
Control Software / SCADA Development
v Preparation
of I/O Lists, Ladder Logic Diagrams
v Development
of prototype
v Program
Development
v SCADA
Screens
v Simulation
testing
v Integration
testing and Configuration
Process Optimization Services
v Control
Audit & Reporting
v Process
Optimization Measures
v Retrofits
v Implementation
& Testing
v Reporting
and Handing Over
Field Services
Technical Manpower Deputation for the following
activities
v Commissioning
v Preventive
Maintenance
v Breakdown
Resolutions
v Calibrations
v Software
Upgrades
v Retrofits
Onsite or Classroom training facilities available for
v PLC
v Drives
v HMI
v System
Specific
Their Clients :
Following are some of their
major clients
v
Indian Railways
v
Coal India Limited
v
BEML
v
Acc Limited
v
L&T-Komatsu Limited
v
Vedanta Group
v
Paradeep Phosphate Limited
v
Deepak Fertilizers
v
Aryan Coal
v
I.G. Petrochemicals Limited
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.44.09 |
|
UK
Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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 |
|