MIRA INFORM REPORT
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Report Date : |
26.12.2006 |
IDENTIFICATION DETAILS
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Name : |
AMITRONICS
PRIVATE LIMITED |
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Registered Office : |
26 – B, Electronic City,
Hosur Road, Bangalore - 561 229, 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 : |
03.07.1985 |
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Com. Reg. No.: |
08-6997 |
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CIN No.: [Company Identification No.] |
U26101KA1985PTC006997 |
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TAN No.: [Tax Deduction & Collection Account No.] |
BLRA00522E |
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Legal Form : |
Subject is a
Private Limited Liability Company. |
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Line of Business : |
Manufacturers,
Importers and Exporters of Parts and Accessories for Electronics Valves and
Tubes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 65000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well established company engaged in manufacture and export of Electron Gun
Components for television picture tube. The company is making satisfactory
progress in its performance in terms of turnover and profits. Directors are
very resourceful businessmen. Their trade relations are reported as fair.
Payments are usually correct and as per commitments. The company can
be considered good for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
26 – B,
Electronic City, Hosur Road, Bangalore - 561 229, Karnataka, India |
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Tel. No.: |
91-80-28520421/28520676/3597 |
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Fax No.: |
91-80-28520762/22217794 |
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E-Mail : |
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Website.: |
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Area : |
3000
sq.fts. |
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Location : |
Owned
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Factory 1 : |
26 – B,
Electronic City, Hosur Road, Bangalore 561 229, Karnataka |
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Tel. No.: |
91-80-852 0421 / 852 0676 |
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Fax No.: |
91-80-852 0762 |
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E-Mail : |
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Area : |
4700
sq.fts. |
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Location : |
Owned
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DIRECTORS
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Name : |
Mr. Ramesh Kumar Jhunjhunwala |
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Designation : |
Managing
Director |
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Age |
56 years |
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Experience |
35 years |
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Qualification
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Engineer |
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Name : |
Mr. Anuj Jhunjhunwala |
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Designation : |
Director
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Age |
29 years |
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Experience |
11 years |
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Qualification
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MBA |
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Name : |
Mrs. Rachana Jhunjhunwala |
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Designation : |
Director
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Age |
27 years |
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Experience |
5 years |
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Qualification
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MBA |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
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Mr. Ramesh
Kumar Jhunjhunwala |
990000 |
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Ramesh Kumar
Jhunjhunwala HUF |
960000 |
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Mr. Tara
Jhunjhunwala |
2055000 |
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Mr. Amit
Jhunjhunwala |
565000 |
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Mr. Aniy
Jhunjhunwala |
666000 |
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Mrs. Vasudhara
Jhunjhunwala |
1370000 |
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Mrs. Rachana
Jhunjhunwala |
1144000 |
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Mrs. Akansha
Jhunjhunwala |
50000 |
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Total |
7800000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
Importers and Exporters of Parts and Accessories for Electronics Valves and
Tubes. |
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Products : |
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Exports to : |
United State of America,
France, Singapore, Slovakia, Poland, Holland, Brazil, The Netherlands,
Thailand and Japan |
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Imports from : |
U.K.,
Japan, China and United States of America (Glass
Power and Components) |
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Terms : |
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Selling : |
Credit
up to 30 days |
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Purchasing : |
L/C
up to 45 to 60 days and Credit up to 30 days |
GENERAL INFORMATION
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Suppliers : |
Some of its’
major suppliers are :- v
Corning
Incorporated-USA v
Delavan Limited-Englad v
Escol Products- England v
Air Link India Limited v
Bharat Petroleum
Corporation Limited v
DRH Logistics India
Private Limited v
HTL Logistics India
Private Limited v
Jeena and Company v
Madhukar Engineering
Components v
R&M Associates v
Scepter Communication |
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Customers : |
Some of its’ major
customers are :- v
Thomson
Polkolor, Poland v
Global
Products Inc. United State of America v
Sony
Electronics (Singapore) Private Limited, Singapore and Slovakia v
EPE
(Thailand) Company Limited, Thailand v
Thomson
Tubes & Components, De-mexica v
Tianjin
Zhong Huan Sanjin v
Hotline
Teletube & Components Limited v
Ming
Dynasty HongKong Limited, HongKong v
H. T.
Logistics India Private Limited, India v
Assab
Sripad Steel Private Limited, India v
Delavan
Limited, U.K. v
Escol
Products, U.K. v
Riho Kogyo
Company Limited v
Toshiba
Diplay Devise Company v
Roxcy
Investments Private Limited v
Samtel
Electron Devices Limited-Gaziabad |
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No. of Employees : |
75 |
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Bankers : |
v
State Bank
of India v
Vijaya
Bank, Overseas Branch, No. 19, Shrutha Complex, Primrose Road, Bangalore 560 001, Karnataka, India |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Auditors : |
G Bagrodia & Company Chartered Accountant |
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Address: |
# 1 Naina Terraces, # 159
Richmond Road, Bangalore – 560025 |
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Associates/Subsidiaries
: |
v
J. J.
Electrovision Private Limited, Bangalore, India v
Anutronics
Private Limited, Goa, India v
Amitronics
Properties Private Limited, Bangalore, India v
J. J.
Glasstronics Private Limited, Bangalore, India v
Amitronics
Building Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs.100 each |
10.000 million |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
93,000 |
Equity Shares |
Rs.100 each |
9.300 million |
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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9.300 |
9.300 |
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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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7.061 |
33.253 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH
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16.361 |
42.553 |
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LOAN FUNDS |
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1] Secured Loans |
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55.338 |
43.391 |
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2] Unsecured Loans |
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21.975 |
16.168 |
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TOTAL
BORROWING
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77.313 |
59.559 |
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DEFERRED TAX LIABILITIES |
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14.405 |
10.059 |
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TOTAL
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108.079 |
112.171 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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74.004 |
91.802 |
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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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0.000 |
0.000 |
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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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17.435 |
25.670 |
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Sundry Debtors
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14.083 |
13.335 |
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Cash & Bank Balances
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2.013 |
0.242 |
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Other Current Assets
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0.000 |
0.000 |
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Loans & Advances
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12.700 |
16.091 |
Total Current Assets
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46.231 |
55.338 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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11.450 |
31.641 |
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Provisions
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0.706 |
3.328 |
Total Current Liabilities
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12.156 |
34.969 |
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Net Current
Assets
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34.075 |
20.369 |
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Less: PROVISION FOR DEFERRED TAX
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0.000 |
0.000 |
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MISCELLANEOUS EXPENSES
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0.000 |
0.000 |
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TOTAL
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108.079 |
112.171 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
Debt Equity Ratio
(Total Liability/Networth) |
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5.46 |
2.22 |
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Current Ratio
(Current Asset/Current
Liability) |
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3.80 |
1.58 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS:
Subject
is engaged in the business as manufacturer, importer and exporter of Parts and
Accessories for Electronics Valves and Tubes.
It
is also engaged in manufacture and sale of electron gun parts (glass stems
& rods), used as critical components to manufacture television picture
tubes.
PROFILE:
The
group was incorporated on 3rd July, 1985 for the manufacture of
Electron Gun components for the picture tube industries. The group is the
pioneer in the manufacture of Glass Rods and Glass Stems in India and is the
largest in India. The plants had an annual capacity of 20 million Glass Steam
and 115 million Glass Rods of various types made as per customers’ drawings and
specification.
Subject
is ideally located in Electronics City, Bangalore. The cultivation of plenty of
trees and greenery in the 45,000 sq.ft. of land which it occupies, has ensured
a dust free atmosphere.
The
company’s client list include biggest tube makers in the world and its products are exported to 15 countries in
Asia, Europe and Americas.
FIXED
ASSETS:
v
Land
v
Buildings
v
Plant and Machinery
v
Electrical Installations
v
Computers
v
Furniture’s
v
Vehicles
v
Office Equipments
v
Technical Know-how
Form
8 Particular for creation or modification of charges
|
Corporation identity number or foreign company
registrations number of the company |
U26101KA1985PTC006997 |
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Name of the company |
AMITRONICS PRIVATE LIMITED |
|
Address |
26 – B, Electronic City,
Hosur Road, Bangalore - 561 229, Karnataka, India |
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This Form is for |
Modification Charge |
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Particular of the charge holder |
Vijaya Bank, Overseas Branch, No. 19, Shrutha Complex, Primrose
Road, Bangalore 560 001, Karnataka |
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Amount Secure by the charge |
Rs 217.500 Millions |
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Brief of the principal terms and conditions |
The company has extended security of tits
immovable properties in favour of Vijaya Bank, Rs. 217.500 Millions
comprising |
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Description of the property charge whether it is a charge
on |
Stock in trade, Plant & Machinery, Book Debts
& Furniture & Fixture |
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Modification charge Charge identification number of the charge to be modified |
90195017 |
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Date of instrument modifying the charge |
05.08.2006 |
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Particulars of the present modification |
By the above amount secured by stands from Rs.
95.000 Millions to Rs. 217.500 Millions |
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 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.44.23 |
|
UK
Pound |
1 |
Rs.86.91 |
|
Euro |
1 |
Rs.58.26 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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
|
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 |