MIRA INFORM REPORT
|
Report
Date : |
21.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
RANGSONS ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
347, D 1 & 2, KIADB Electronic City, Hebbal Industrial Area,
Mysore – 570 016, Karnataka, INDIA. |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
30.06.1993 |
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Com.
Reg. No.: |
08-14470 |
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CIN
No.: [Company
Identification No.] |
U31909KA1993PTC014470 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
BLRR02027E |
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Legal
Form : |
Private limited liability company. |
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Line
of Business : |
Manufacturer and Exporter of Electronic
Products, PCB and Cable Harness, Printed Circuit Assembly. |
RATING & COMMENTS
|
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
175000 |
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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 company having satisfactory
track. Directors are reported as experienced, respectable and having
substantial means of their own. Their trade relations are fair. Financial
position is good. Payments are usually correct and as per commitment. The company can be considered good for normal business
dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office/Factory/ Corporate
Office: |
Plot No. 347, D 1 & 2, KIADB Electronic City, Hebbal
Industrial Area, Mysore – 570 016, Karnataka, India. |
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Tel.
No.: |
91-821-2404550 – 554/ 428 0000 |
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Fax
No.: |
91-821-2404529/ 428 0060 |
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E-Mail
: |
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Website
: |
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Area : |
20000 sq. fts. |
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Location : |
Owned |
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Regional office: |
Parvati Plaza, 1st Floor, 104/105,
Richmond Circle, Bangalore – 560 025, Karnataka, India |
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Tel.
No.: |
91-80-2272038 |
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Fax No.: |
91-80-2272039 |
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E-Mail
: |
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Bangalore
Office : |
77, Hope Farm, ITPL Road, White Field,
Bangalore – 560 006, Karnataka, India. |
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Tel.
No.: |
91-80-4125 4701-02-03/ 4152 3820 |
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Mobile
No.: |
91-99455 52032 |
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Fax
No.: |
91-80-4125 4704 |
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E-Mail
: |
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Contact
Person: |
Mr. N H Ashok |
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Overseas office : |
Located at Singapore, Dubai, Germany, France and
USA |
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Group offices: |
All over India |
DIRECTORS
|
Name : |
Mr. Arjun Murthy Ranga |
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Designation
: |
Director |
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Address
: |
2634, II Main, Gokulam, V V Mohalla, Mysore – 570002, Karnataka |
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Date
of Birth/Age : |
30.04.1974 |
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Date
of Appointment : |
31.03.2001 |
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Name : |
Mr. Guru Ranga Rao |
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Designation
: |
Director |
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Address
: |
3005, Gokulam, V V, Mohalla, Mysore – 570002, Karnataka |
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Date
of Birth/Age : |
09.10.1942 |
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Date
of Appointment : |
31.03.2001 |
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Name : |
Mr. Phanisha Kalale Nagappa |
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Designation
: |
Director |
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Address
: |
3 - 20th Block, Madhuvana Layout 8th
Cross, Sriramapuram II Stage, Mysore – 570 023, Karnataka, India. |
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Date
of Birth/Age : |
14.12.1967 |
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Date
of Appointment : |
20.12.2002 |
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Name : |
Mr. Vasu Ranga Rao |
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Designation
: |
Director |
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Address
: |
2980, 6th Main Gokuldham, V V Mohalla, Mysore –
570 002, Karnataka, India. |
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Date
of Birth/Age : |
08.01.1949 |
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Date
of Appointment : |
30.06.1993 |
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Name : |
Mr. Pavan G. Ranga |
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Designation
: |
Chief Executive Officer |
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Name : |
Mr. H. M. Dattatri |
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Designation
: |
Company Secretary |
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Name : |
Mr. G. J. Singh |
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Designation
: |
Vice President - Sourcing and
SCM |
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Name : |
Mr. R. C. Scuchitra |
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Designation
: |
Vice President – Operations |
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Name : |
Mr. H. S. Ramesh |
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Designation
: |
Head - HRD |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Equity shares of Rs. 100/- each |
|
|
Mr. Arjun Murthy Ranga |
4900 |
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Mr. Anirudh Ranga |
4900 |
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Mr. Guru Ranga Rao |
4600 |
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Mr. Pavan Ranga |
4600 |
|
Mr. Sridhar Ranga Rao |
1000 |
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Others |
1100 |
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Total: |
21100 |
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Names of Shareholders |
No. of Shares |
|
Preference shares of Rs. 1000/- each |
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Mr. Arjun Murthy Ranga |
490 |
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Mr. Anirudh Ranga |
490 |
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Mr. Guru Ranga Rao |
460 |
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Mr. Pavan Ranga |
460 |
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Mr. Sridhar Ranga Rao |
100 |
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Others |
110 |
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Total: |
2110 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturer and Exporter of Electronic
Products, PCB and Cable Harness, Printed Circuit Assembly. |
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Products: |
Ř
OC-48 PO System Ř
2048 Port Fault Tolerant PABX Ř
Electronics for Quadro-pole Mass Spectrometer Ř
Telco Switch for 128, 512 and 64K port Ř
Slip Ring Power Recovery System Ř
Printed Circuit Boards Ř
Cable Assemblies Ř
Electronic Assemblies & Components |
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Export
To: |
Europe and USA |
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Imports
from : |
USA, Japan, Korea, Singapore, Malaysia, UK,
Hong Kong and Taiwan |
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Terms
: |
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Selling : |
Credit (30-60 days) |
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Purchasing : |
L/C or credit (60-120 days) |
GENERAL INFORMATION
|
Trade
Reference/ Customer: |
L & T |
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No. of
Employees : |
429 |
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Bankers
: |
State Bank of Mysore, Mysore Main Branch, No.
7, Ashoka Road, Mysore – 570 001, Karnataka |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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Auditors
: |
Loknath & Company Chartered Accountants |
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Address: |
459, Aashianaa, 6th Main, 1st
Stage, Vijayanagar Layput, Mysore – 570 017, Karnataka, India. |
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Associates/Subsidiaries
: |
Ř N Ranga Rao & Sons - Agarbatti manufacturers and exporters Ř Manmohak Creations Ř Property Marketing
Services Ř VCT Labs Ř Rangsons Perfumes
Private Limited Ř Natural Essential Oils
Private Limited |
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Parent company: |
Ř Rangsons Group Leading industrial house in South India, with a spectrum of
divisions taking care of its multifaced activities viz. Incense sticks,
essential oils, perfumes, etc. |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
30000 |
Equity shares |
Rs. 100/- each |
Rs. 3.000 millions |
|
6500 |
Redeemable Preference Shares |
Rs. 1000/- each |
Rs. 6.500 millions |
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Total |
|
Rs. 9.500
millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
21100 |
Equity shares |
Rs. 100/- each |
Rs. 2.110 Millions |
|
2110 |
Redeemable Preference Shares |
Rs. 1000/- each |
Rs. 2.110 Millions |
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Total |
|
Rs. 4.220 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 |
4.220 |
4.000 |
4.000 |
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2] Share
Application Money |
0.000 |
2.150 |
18.080 |
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3]
Reserves & Surplus |
38.276 |
24.896 |
0.000 |
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4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
42.496 |
31.046 |
22.080 |
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LOAN
FUNDS |
|
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|
1]
Secured Loans |
60.057 |
42.421 |
43.690 |
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2]
Unsecured Loans |
34.673 |
29.636 |
20.390 |
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TOTAL
BORROWING
|
94.730 |
72.057 |
64.080 |
|
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DEFERRED
TAX LIABILITIES |
5.603 |
6.146 |
5.960 |
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TOTAL
|
142.829 |
109.249 |
92.120 |
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APPLICATION OF FUNDS
|
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FIXED ASSETS [Net Block]
|
74.428 |
60.905 |
52.960 |
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Capital work-in-progress
|
0.000 |
0.000 |
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
|
37.140 |
21.501
|
12.650
|
|
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Sundry Debtors
|
50.755 |
32.943
|
32.630
|
|
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Cash & Bank Balances
|
12.635 |
9.770
|
6.850
|
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Other Current Assets
|
0.000 |
0.000
|
0.000
|
|
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Loans & Advances
|
9.792 |
9.030
|
11.530
|
Total Current Assets
|
110.322 |
73.244 |
63.660 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
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Current Liabilities
|
35.886 |
23.130
|
24.500 |
|
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Provisions
|
6.035 |
1.77
|
0.00 |
Total Current Liabilities
|
41.921 |
24.900 |
24.500 |
|
Net
Current Assets
|
68.401 |
48.344 |
39.160 |
|
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|
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
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TOTAL
|
142.829 |
109.249 |
92.120 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income]
|
192.385 |
122.139 |
112.500 |
|
|
|
|
|
|
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Profit/(Loss) Before Tax
|
15.417 |
8.553 |
5.240 |
|
Provision for Taxation
|
4.187 |
2.716 |
1.870 |
|
Profit/(Loss) After Tax
|
11.230 |
5.837 |
3.370 |
|
|
|
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Export Value (USD)
|
NA |
NA |
131.675 |
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|
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|
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Import Value
|
NA |
NA |
48.710 |
|
|
|
|
|
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Total Expenditure
|
162.253 |
101.876 |
N.A |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
5.84 |
4.78 |
3.00
|
|
|
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|
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|
Net Profit Margin
(PBT/Sales) |
(%) |
8.01 |
7.00 |
4.65
|
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|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
8.34 |
6.38 |
4.49
|
|
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|
Return on Investment (ROI)
(PBT/Networth) |
|
0.36 |
0.28 |
0.23
|
|
|
|
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
3.22 |
3.12 |
4.01
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.63 |
2.94 |
2.60
|
LOCAL AGENCY FURTHER INFORMATION
The company’s fixed assets of important value
include land, building, plant and machinery, furniture and fixtures and
vehicles.
HISTORY
The company was incorporated on 13th
June 1993 at Mysore in Karnataka having Company Registration Number 14470.
The company’s registered office was shifted from
Rangsons House, P. B. No. 52, 1553, Vani Vilasa Road, Mysore - 570 004,
Karnataka to present address before six months.
The company’s factory was also shifted from 145,
Manandavadi Road, Mysore - 570 008, Karnataka to present address before six
months.
It is in trade terms with:
Ř Multicore, Malaysia
Ř Nippon Electronics,
Japan
Ř Advance Technology, USA
Ř Samsung, Korea
Ř Quantum, UK
Ř Memec Components, Hong
Kong
Ř Epotech Electric
Corporation, Taiwan
Ř Wintech Corporation,
Japan
Ř Kobaden Electronics,
Japan
Ř Future Electronics
Distribution Pte. Ltd., Singapore
Ř Wipro Ge Medical Systems
Limited, Bangalore, Karnataka, India
Ř Larsen & Toubro
Limited, Mysore, Karnataka, India
Ř Wipro Peripherals /
Wipro Limited, Mysore, Karnataka, India
Ř Bharat Heavy Electricals
Limited, Bangalore, Karnataka, India
Ř Asea Brown Boveri
Limited, Bangalore, Karnataka, India
Ř Indian Telephone
Industries Limited (ITI), Bangalore, Karnataka, India
Ř Tata Electronic Development
Services, Bangalore, Karnataka, India
Ř BPL Group, Palakkad
Ř BPL Group, Bangalore,
Karnataka, India
Ř HCL Information Systems
Limited, Bangalore, Karnataka, India
Ř Crompton Greaves,
Bangalore Karnataka, India
Ř Enercon Systems Private
Limited, Bangalore Karnataka, India
Ř Electronic Corporation
of India Limited, Hyderabad, Andhra Pradesh, India
Ř HCL Peripherals Limited,
Chennai, Tamilnadu, India
Ř HCL Peripherals Limited,
Pondicherry, Tamilnadu, India
Ř Kirloskar Electric
Company Limited, Mysore, Karnataka, India
TRADE REFERENCE
Ř Emerson Network Power India Private
Limited
Ř Tata Honeywell Limited
Ř Aspire Communications Private
Limited
Ř Chaya Graphics Private Limited
Ř Electro Magnetic Devices
AS PER WEBSITE
Vision
To
become a global leader in Electronic manufacturing by providing complete
solutions required to transform ideas into successful products & services
Mission
v To
maximize the value of all their Stake Holders including Employees, Customers,
Share Holders & Suppliers by providing quality products & services
through Total Electronic Manufacturing Solutions (TEMS).
v To
assure the highest level of customers satisfaction by being flexible.
v To
address the need of the induvisual customer by being systems driven &
process centric.
v To
develop people within & outside the organization by encouraging the
employees to work diverse teams & through training & delegation.
v To
work with the highest level of ethical standards in all dealings.
v To
serve the community to be environment friendly
Equipment
Rangsons Electronics features a flexible, fully automatic in-line Surface Mount
process. Their SMT process portrays outstanding equipment from the leaders in
their industry. They have designed their automated processes specifically to
allow for quick changeovers and flexibility as well as mid-high volume runs.
People
The company at Rangsons Electronics believe that-
v their
people are the most valuable assets.
v they
owe their success to the commitment
& dedication of their work force.
v Training
is the backbone of the company’s success in the development &
implementation of global quality systems.
The latest trends in Technology is continually updated within the organization
through their extensive Training Programmes. theirTraining center supports the
requirements for the entire spectrum of Operational & Managerial activities
by providing very dynamic training & development services with the belief
that an educated workforce has better ability to contribute to generation of
innovative ideas and implementation solutions.
PLANT
LIST :
LINE ALPHA
Screen Printer
SMD Placement - Chip Shooter
SMD Placement - Flexible Placer
Reflow Soldering
LINE BETA
Screen Printer
SMD Placement
Reflow Soldering
LINE GAMMA
Screen Printer
Specifications of SMD Placement
Specifications of Reflow Soldering
LINE DELTA
Screen Printer
SMD Placement
Reflow Soldering
Specifications for
Machineries
MYDATA
FUJI
Specifications of
Screen Printers
Specifications of
Reflow Ovens
Standards and
Certifications
All 4 facilities of Rangsons are ISO 9001:2000 certified. Their main facility
is also ISO 14001 & 18001 certified*. From order entry through the entire
manufacturing process & support services, all activities are processed
& controlled in accordance with the quality management system for ISO 9001.
They have been assessed & certified by TUV Suddeutschland.
The company are totally committed to producing PWA's in a high yield
manufacturing process & PWA's are manufactured to conform to the IPC- 610C
standards adhering to all contractual & customer requirements
Rangsons Electronics has embarked on certification strategy with a strong sense
of commitment to achieving Customer Delight through Quality, Delivery, Cost,
along with controlling the usage of resources used for manufacturing & with
a drive towards protection & conservation of the environment
Quality Policy
REPL is committed to:
v Establish
Market Leadership By Adopting The State Of The Art Technology In The Field Of
PCB Assembly And Through The Active Participation Of All Concerned.
v Provide
A Competitive Atmosphere Through Continual Improvement, On-time Delivery And
Identify And Meet The Needs Of The Customer To Give Complete Satisfaction.
Quality Circles
Rangsons Electronics considers process control as the key to achieve product
reliability. Quality circles are formed with a commitment to proactive process
control. Representatives from various related departments comprise of these
teams who analyze the data utilizing various proven quality control
methodologies to ensure that products cost and reliability is built-in through
their controlled processes. SPC techniques are widely used.
Quality basic model is that of –
Data collection
Pareto Analysis-
identification of vital few problems
Fish bone Analysis
Brain storming sessions
- evolve corrective & preventive actions.
This is followed by the implementation phase of the corrective & preventive
actions during which stringent monitoring is done to analyze the effectiveness
of the corrective actions before the closure of the non-conformance.
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. 44.25 |
|
UK Pound |
1 |
Rs. 86.41 |
|
Euro |
1 |
Rs. 58.10 |
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 |
NO |
|
--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%)
s
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 |