MIRA
INFORM REPORT
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Report Date : |
17.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALBA CONTROL SYSTEMS LIMITED |
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Registered Office : |
20/6, Rajpur Road, Civil Lines,
Delhi - 110 054 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.11.1989 |
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Com. Reg. No.: |
55-38375 |
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CIN No.: [Company
Identification No.] |
U31909DL1989PLC038375 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA12469C |
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PAN No.: [Permanent
Account No.] |
AAACA0031C |
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Legal Form : |
Public
limited liability company. |
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Line of Business : |
Manufacturing and supplying of closed circuit television (CCTV)
parts and components used in surveillance and security systems, card access
control systems, building management systems, integrated security systems and
fire detection and alarm systems. |
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
80000 |
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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 : |
20/6, Rajpur Road, Civil Lines,
Delhi - 110 054, India |
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Tel. No.: |
91-11-294 0906 / 646 6242 /
23920876 / 23559070 |
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Fax No.: |
91-11-647 7258 / 23675377 |
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E-Mail : |
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Website : |
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Corporate
Office : |
# 275 Udyog Vihar, Phase IV, Gurgaon -122001, INDIA |
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Tel.
No.: |
91-124-4107862 / 63 |
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Fax
No.: |
91-124-4057955 |
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E-Mail
: |
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Factory
1 : |
E-4, Sector VI, Noida - 201 301, Uttar Pradesh |
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Tel.
No.: |
91-11-853 4036 / 37 / 38 |
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Fax
No.: |
91-11-854 9754 / 55 |
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Branches
: |
Bangalore
Branch # 855,
14th Cross, CMH Road , 2nd Stage Indranagar, Bangalore-560 038 Hyderabad
Branch #
8-2-333/B/1, Road No. 3, Banjara Hills, Hyderabad- 500082 Chennai Branch #
D-111 , 1 Main Road, White House , Anna Nagar East, Chennai - 600102 |
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Projects,
Marketing & Technical Support : |
D-38, Sector 2, Noida, Uttar Pradesh |
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Service
Department : |
G-13/10, Phase I, DLF City, Gurgaon, Haryana |
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Tel No. : |
91-124-635 4457 |
DIRECTORS
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Name : |
Mr. Rajeev Bajaj |
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Designation : |
Managing Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon
– 122002, Haryana, India |
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Date of Birth/Age : |
09.09.1963 |
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Date of Appointment : |
16.11.1989 |
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Name : |
Mr. Sanjeev Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon
– 122002, Haryana, India |
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Date of Birth/Age : |
05.04.1968 |
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Date of Appointment : |
16.11.1989 |
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Name : |
Mrs. Sonia Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon
– 122002, Haryana, India |
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Date of Birth/Age : |
27.11.1965 |
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Date of Appointment : |
16.11.1989 |
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Name : |
Mr. Vinit Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF Phase – I, Gurgaon
– 122002, Haryana, India |
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Date of Birth/Age : |
16.10.1971 |
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Date of Appointment : |
15.01.2007 |
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Name : |
Ms.
Shefali Bajaj |
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Designation : |
Director
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Address : |
20/6, Rajpur Road, Delhi - 110 054, India |
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Date of Birth/Age : |
15.04.1967 |
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Date of Appointment : |
17.02.2000 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Rajeev Bajaj |
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25300 |
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Sanjeev Bajaj |
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51800 |
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Sonia Bajaj |
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45600 |
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Urmila Bajaj |
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12000 |
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Surinder Bajaj |
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40000 |
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Vinit Bajaj |
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26100 |
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Shapali
Bajaj |
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10100 |
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Anuj
Arora |
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1600 |
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Bajaj
Vina Chandra |
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10000 |
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Ashok
Kumar Bajaj |
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5000 |
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Pooja
Bajaj |
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22500 |
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Total |
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250000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and supplying of closed circuit television (CCTV)
parts and components used in surveillance and security systems, card access
control systems, building management systems, integrated security systems and
fire detection and alarm systems. |
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Products : |
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Brand Names : |
ALBA and ALBA VISION |
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Imports from : |
UK, Japan, Taiwan and Singapore |
GENERAL
INFORMATION
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Suppliers : |
Ř
Emco Control Private Limited, India Ř
Lookman Electroplast Industries Limited, India Ř
Aksh India Private Limited, India Ř
Amar Electricals, India Ř
Chugai Boykes Company Limited, Korea Ř
KG Technocrats, India Ř
Ralton Electronics, India Ř
Oriental Electroplast Private Limited, India Ř
Uniship Electronics Private Limited, India Ř
Kalsi Jewellers., India |
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Customers : |
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No. of Employees : |
55 |
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Bankers : |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Krishan
K. Gupta and Company Chartered
Accountants 1/3-10196,
Jhandewalan Devi Mandir Lane, New Delhi – 110055, India |
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Tel. No.: |
91-11-23678214
/ 23520387 / 23559070 |
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Fax No.: |
91-11-23675377 |
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E-Mail : |
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Associates/Subsidiaries : |
Alba Security Systems (Private) Limited |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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750000 |
Equity shares |
Rs. 10 each |
Rs. 7.500 millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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250000 |
Equity shares |
Rs. 10 each |
Rs. 2.500 millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
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 |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
17.177 |
6.363 |
4.464 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.677 |
8.863 |
6.964 |
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LOAN FUNDS |
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1] Secured Loans |
0.336 |
2.656 |
2.925 |
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2] Unsecured Loans |
0.000 |
0.000 |
2.072 |
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TOTAL BORROWING |
0.336 |
2.656 |
4.997 |
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DEFERRED TAX LIABILITIES |
0.091 |
0.339 |
0.329 |
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TOTAL |
20.104 |
11.858 |
12.290 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.574 |
4.790 |
4.734 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.063 |
0.013 |
0.013 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.475
|
4.923 |
7.777 |
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Sundry Debtors |
24.453
|
10.810 |
9.421 |
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Cash & Bank Balances |
9.725
|
1.086 |
0.131 |
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Loans & Advances |
3.732
|
4.526 |
2.661 |
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Total Current Assets |
40.385
|
21.345 |
19.990 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
25.990
|
14.386 |
12.447 |
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Provisions |
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Total Current Liabilities |
25.990
|
14.386 |
12.447 |
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Net Current Assets |
14.395
|
6.959 |
7.543 |
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MISCELLANEOUS EXPENSES |
0.072 |
0.096 |
0.000 |
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TOTAL |
20.104 |
11.858 |
12.290 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2004 |
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Sales Turnover [including other income] |
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53.144 |
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Profit/(Loss)
Before Tax |
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|
1.078 |
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Provision
for Taxation |
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|
0.361 |
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Profit/(Loss)
After Tax |
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|
0.717 |
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Total
Expenditure |
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52.067 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
NA
|
NA |
1.35 |
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Net
Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
2.03 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
NA
|
NA |
4.36 |
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Return
on Investment (ROI) (PBT/Networth) |
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NA
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NA |
0.15 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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1.34
|
1.92 |
2.50 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.55
|
1.48 |
1.61 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
- Building
- Furniture
- Machine and Tools
- Generator
- Car
- Office Equipments
- Scooter
- Fire Extension
- Testing Jig
- Pager and Cellular Phone
- Air Conditioner
- Water Cooler and Filter
- E.P.B.X.
- Cycle
- Photocopy Machine
- Books
- Fax Machine
Bankers
Charges Report as per Registry
|
Name of the company |
ALBA
CONTROL SYSTEMS LIMITED |
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Presented By |
UNION BANK OF INDIA AND ALBA CONTROL SYSTEMS LIMITED |
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1) Date and description of instrument creating the change |
Hypothecation
agreement dated 22.03.1995 [Regd. On 05.04.1995] [Modified
upto Rs. 3.100 Millions on 30.04.1997 Regd. On 09.10.1997] |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
2.000 Millions |
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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 entire plant and machinery including generator imported and indigenous raw
materials, work-in-process, finished
goods i.e. security systems like closed circuit TV Cameras, monitor,
electronic door locks, electronic intercom system etc. packing materials –
all existing and future book debts collaterally secured by Equitable Mortgage
of property at plot No. 4, Block – E, Sector VI, Noida being factory land and
holding admeasuring 211.45 sq. mtrs. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Union
Bank of India, F-14/15, Connaught Place, New Delhi |
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5) Name and Address and description of the person entitled to the charge. |
Hypothecation
agreement of goods, debts and assets dated 19.05.2001 |
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6) Date and brief description of instrument modifying the charge |
The
amount secured by this charge is reduced from Rs. 3.100 Millions to Rs. 2.698
Millions. The credit facilities secured by this charge consist of CC
[Hypothecation] Rs. 0.800 Millions ; OD [Book Debts] Rs. 0.400 Millions ;
Letter of Guarantee Rs. 0.748 Millions and ; Inland LC Rs. 0.750 Million s
aggregating to Rs. 2.698 Millions. Interest is chargeable as per Bank rules –
The charge is secured by hypothecation of stock of raw – materials, work in
process and finished goods like security systems, book debts and other
current and fixed assets both present and future and also equitable mortgage
of property at Plot No. 4, Block – E, Sector – VI, Noida being factory land
and building – other terms and conditions remain same. |
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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. |
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AS PER
WEBSITE
Enterprise-Wide Security
One of the
premier Security Systems Integrator and solutions provider in India, Alba
Control Systems Ltd has been in the business of Integrated Solutions for the
last 16 years. Founded and established in the year 1989, their professional
approach in designing systems towards optimal application, backed by
uncompromised quality, customer support and competitive pricing have been some
of the driving factors behind their accomplishments.
With their
state-of-the-art facilities at Gurgaon, NOIDA, Bangalore and Hyderabad in
addition to their presence in all major cities, they have been able to meet the
market demand and customer support all over the country. As an ISO:9001
recipient for manufacturing, maintaining standards and delivering quality
solutions to their invaluable customers - Customers who appreciate technology
and can bank on a system specifically customized to meet their varied security
needs. Alba Control has always been open to understand specific customer
requirements and planning deliverable objectives for enterprises of all sizes
and magnitude.
Customer
First
Team Alba
has always been committed towards Total Customer Satisfaction by providing
quality solutions backed by Competent and Prompt Support Services. The day
starts with 'Customer First…' and ends with satisfactory Customer Service.
Vision and
Commitment
Alba's
strength lies in its exhaustive understanding of the need, in-house engineering
and the ability to deliver a customized solution through its team of highly
skilled Project Managers and System Integrators. They, at Alba, employ more
than 150 professionally trained Project Managers, System & Application Engineers,
System Visualisers & Designers, Software Developers and Competent Sales
Personnel who are the driving force behind what they are today.
Total
Quality Management
At Alba
Control the solutions are delivered under stringent quality checks duly monitored
by system engineers and project managers. Their quality analysts are committed
towards total customer satisfaction and sales backed by competent after-sales
support.
Seamlessly Integrated
Solutions
Their security
solutions enable their clients to maximize their IT and infrastructure
investments, increase productivity and effectively protect and manage
employees, assets, property and resources. The solutions are engineered to the
highest industrial standards to meet international satisfactions.
Comprehensive
categories of the products given below:
- Access Control Systems.
- Id and credential
management, HR solutions : Workforce planning
- Biometric Identification and
Verification.
- CCTV Surveillance: Workplace
Security, On ground live monitoring.
- Network Video Management and storage solutions: TCP/IP Remote
video.
- Digital Video Management
Solution for investigations.
- Visitor and lobby management.
- Smart Card Solutions.
- Alarm Monitoring: Intrusion
& Perimeter Detection.
- IT security applications.
The Success
Story - Alba Control Systems Ltd has achieved major success in providing
integrated security solutions. Alba maintains over 100,000 Security Systems all
over India . Their diversified sectors includes:
- Govt Installations
- Public Sector Installations
- Industries
- Corporate Houses
- T, Call Center and BPO's
- Technology Centers
- Building Complexes: Residential &
Commercial
- Hotels
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.44.19 |
|
UK
Pound |
1 |
Rs.86.32 |
|
Euro |
1 |
Rs.58.07 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|