MIRA
INFORM REPORT
|
Report Date : |
26.12.2006 |
IDENTIFICATION DETAILS
|
Name : |
SUN INFONET PRIVATE LIMITED |
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Registered Office : |
12/7, Second Floor, West Patel Nagar,
New Delhi – 110 008, India. |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date of Incorporation : |
24.05.2000 |
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Com. Reg. No.: |
55-105846 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
DELS15376E |
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PAN
No.: [Permanent
Account No.] |
AAEC6507R |
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Legal Form : |
Private limited liability
company |
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Line of Business : |
Traders and Distributors of Radio and
Data Communications Equipments and Electronic Equipments. |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is engaged in the business as
Importers and distributors of Radio and Communication equipments, imported
mainly from Germany, U.S.A. and Taiwan, having offices in the major cities in
India. The Company’s business is progressing
well. Trade relations are reported as fair. Payments are usually correct and
as per commitments. The Company can be considered normal
for business dealings at usual trade terms and conditions |
LOCATIONS
|
Registered Office : |
12/7, Second Floor, West Patel Nagar,
New Delhi – 110 008, India. |
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Tel. No.: |
91- 11-25889728 |
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Fax No.: |
91- 11-25889252 |
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E-Mail : |
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Website : |
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Area
: |
500 Sq.ft. |
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Location
: |
Owned
–Commercial |
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Head Office : |
3/31, 3rd Floor,
West Patel Nagar, New Delhi – 110008 |
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Tel. No.: |
91-11-25889728/29/30/31 |
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Fax No.: |
91-11-25889252 |
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Overseas Offices : |
C/o Drumkin Business Machines Inc/. 71-27, 65th Street, No. 3C, Glendale, New York 11385,
USA |
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Tel.
No.: |
+1 718 418 2979 |
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Fax
No.: |
+1 718 418 4067 |
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E-Mail
: |
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Overseas Offices : |
10 Kaki Bukit Road, No. 03-04,
Singapore 416175 |
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Tel.
No.: |
8411236 |
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Fax
No.: |
8411237 |
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Branches
: |
189-A, First Floor, Saheed Bhagat Sigh
Co-operative Housing Society, Next to Gurdwara Link Road, J. B. Nagar,
Andheri (East), Mumbai – 440059, Maharashtra |
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Tel.
No.: |
91-22-27544278 |
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Mobile
No.: |
91-9820136173 |
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E-Mail
: |
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Branches
: |
1 Circular Road, United India Colony,
Kodambakam, Chennai – 600024, Tamilnadu |
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Tel.
No.: |
91-44-24881584/24839838/24812838 |
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Fax
No.: |
91-44-24839838 |
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Mobile
No. |
91-9841060131 |
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Contact
Person : |
Mr. Balashubramaniam |
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Branches
: |
Plot no 8, Golden Empire, Flat No.
6025, Mahavir Marg, C-Scheme, Jaipur, Rajasthan |
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Tel.
No.: |
91-141-5103537 |
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Mobile
No.: |
91-9829060656 |
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Contact
Person : |
Mr. Sapan Jain |
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Branches
: |
Sun Group No. 26, First Floor ,
(Beside Bescom), Anjenaya Temple Street, Marappa Garden, Benson Town,
Bangalore – 560046, Karnataka |
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Tel.
No.: |
91-80-23367854 |
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Branches : |
335 Bijoypur Road, 6-E, 24 Parghans
(N), West Bengal – 743178, Kolkata |
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Tel.
No.: |
91-33-25951574 |
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Fax
No.: |
91-33-25530512 |
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Contact
Person : |
Mr. Amit Kr. Som |
DIRECTORS
|
Name : |
Mr. Sunil Malik |
|
Designation : |
Director |
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Address : |
R-801, New
Rajinder Nagar, New Delhi, 110 060. |
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Date of Appointment : |
24/05/2000 |
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Name : |
Mr. Bhavnish Sachdeva |
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Designation : |
Director |
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Address : |
House Number
- 2030, Sector – 28, Faridabad, Haryana |
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Date of Appointment : |
19/07/2000 |
KEY
EXECUTIVES
|
Name : |
Mr. Neeraj Chandra |
|
Designation : |
Director
(Operations) |
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Mobile : |
91-9811089557 |
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Email : |
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Name : |
Mr. Kapil Sood |
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Designation : |
Manager (Finance) |
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Mobile : |
91-9313002417 |
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Email : |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Mr. Sunil Malik |
500 |
4.55 |
|
Ms. Manju Malik |
500 |
4.55 |
|
Mr. Krishna Malik |
10000 |
90.90 |
|
Total |
11000 |
100.00 |
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BUSINESS
DETAILS
|
Line of Business : |
Traders and Distributors of Radio and
Data Communications Equipments and Electronic Equipments. |
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Imports from : |
Taiwan, Germany,
USA, Japan and other European Countries |
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Terms : |
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Purchasing
: |
Credit |
GENERAL
INFORMATION
|
Customers : |
Ř
Escorts Medical Centre Ř
Batra Hospital and Research Centre Ř
Rohtak Medical College Ř
Khanna Nursing Home Ř
Indraprastra Medical Corporations
Limited Ř
Kalawati Saran Children Hospitals Ř
Sanjay Gandhi Hospital Ř
Max India Limited Ř
Hotel Kanishka Ř
Hotel Imperial Ř
Hotel Novatel Ř
Hotel Oberoi Ř
Hotel Taj Ř
Motorola |
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No. of Employees : |
45 |
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Bankers : |
·
The Jammu and Kashmir Bank Limited ·
HDFC Bank Limited, Delhi ·
ICICI Bank Limited ·
Citi Bank Limited |
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Facilities
: |
The subject has
availed secured loans from ICICI Bank and Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
A
K. Batra and Associates Chartered Accountants 40/2971, Beadon Pura,
Karol Bagh, New Delhi – 110 005. |
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Tel. No.: |
91-11-25789547/25729299 |
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Associates : |
Sun Medical Systems 3/31, West Patel
Nagar, New Delhi – 110008 Line
Of Business :
Distributors and Authorized dealers for
medical equipments of SONY Corporation, Japan, Sole Distributorship of
Codonics Inc. USA, Mitsui USA, Philips Medical (Formerly Agilent
Technologies), Medtronic USA It supplies Medical
Equipment/Solutions/Products to all major Hospitals, Institutions, OEMs and
Dealers thru its large network. Products
·
All Medical Professional Products for
the field of Ultrasound/Endoscopy/Microsurgery/Laproscopy/Color
Doppler/CT-MRI etc. ·
Dry Imagers/Media for CT Scan, MRI
and Nuclear Medicine ·
Medical Equipment and Consumables for
ICU/CCU/Post Operative/Ots/Trauma etc. ·
Medical CDs/DVDs and Caddies ·
Stents/Balloons/Cathetors for
Angiography and Angioplasty and Shunts/Neuroendoscopes for Neurosurgery. Branches
New Delhi, Bangalore, Chennai, Mumbai
and Kolkata Overseas Office
Singapore,
Hong Kong and New York ·
Sun Broadcast Equipment Private
Limited ·
Legal Status : Private Limited
Liability Company ·
Date of Incorporation : 14th
August 2002 Business Profile
The company is a part of Sun Group of
companies having their presence in Indian Medical and Infotech Industry. It has been authorized by Sony
Corporation of Hong Kong to distribute and service their entire range of
broadcast and professional products in India. The Head Office is at Delhi
with a network of branch offices in Mumbai, Kolkata, Chennai and Bangalore. Authorized Dealer for SONY Broadcast
Products and AMC Provider. Broadcast Products : ·
Digital Video Camera ·
Digital Audio Mixer ·
DME Switcher ·
DVCAM ·
Camera Control Unit and Adaptor ·
Color Video Monitor ·
Digital Portable Mixer |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs.10/-
each |
Rs.
1.00 Million |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11,000 |
Equity Shares |
Rs.10/-
each |
Rs.0.110
Million |
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1] Share Capital |
|
0.110 |
0.110 |
|
2) Share
Application Money |
|
0.000 |
0.000 |
|
3]
Reserves & Surplus |
|
3.440 |
2.340 |
NETWORTH
|
|
3.550 |
2.450 |
|
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LOAN FUNDS |
|
|
|
|
1] Secured
Loans |
|
1.047 |
0.000 |
|
2] Unsecured
Loans |
|
6.700 |
3.450 |
TOTAL
BORROWING
|
|
7.747 |
3.450 |
Deferred Tax liability
|
|
-- |
-- |
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TOTAL
|
|
11.297 |
5.900 |
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APPLICATION
OF FUNDS |
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|
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FIXED
ASSETS [Net Block] |
|
2.260 |
1.148 |
|
Capital
work-in-progress |
|
---- |
---- |
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INVESTMENTS |
|
0.042 |
0.017 |
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CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
|
13.039 |
7.585 |
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Sundry
Debtors |
|
25.938 |
17.961 |
|
Cash &
Bank Balances |
|
2.104 |
3.682 |
|
Other
Current Assets |
|
0.490 |
0.883 |
|
Loans
& Advances |
|
4.598 |
1.220 |
|
Total
Current Assets |
|
46.169 |
31.331 |
|
Less :
Current Liabilities and Provisions |
|
|
|
|
Current
Liabilities |
|
36.276 |
25.993 |
Provisions
|
|
0.898 |
0.610 |
Total
Current Liabilities
|
|
37.174 |
26.603 |
|
Net Current Assets |
|
8.995 |
4.728 |
|
|
|
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|
MISCELLANEOUS
EXPENSES |
|
0.000 |
0.006 |
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TOTAL
|
|
11.297 |
5.900 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
Debt Equity Ratio(Total Liability/Networth)
|
|
|
12.65 |
12.26 |
|
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Current Ratio(Current Asset/Current Liability)
|
|
|
1.24 |
1.17 |
LOCAL
AGENCY FURTHER INFORMATION
The company sells Voice and Data Communications equipment to
various sectors of Indian Industry such as Hotels, Hospitals, Heavy Industry,
DOT, ISP Providers, Paramilitary forces, carriers viz, cable and wireless and
other agencies.
It has set up its own communications center in New Delhi
equipped with the facilities for Repair and Maintenance.
Subject
deals with the following products:
·
Motorola- Two Way Radios
·
NETVOX – Numeric Pager
·
Zetron- Paging Systems
·
On site paging systems
·
Controlware- ISDN Backup and Access
·
ISDN Bank-up Access System
·
ATM Access System
·
Guest Room Management System
·
Time Scheduler System
·
Ultrak
·
Paging Systems
·
ISDN Bank-up solutions
·
Voice Processing Systems
·
Computer LAN Telephony with visual call
and mail management
·
Telemetry
·
Radio Data Communication, SCADA Systems
and Test Equipment
·
Customer Owned and Messaging Group
The
Company is an authorized Distributor for the following Companies
·
Motorola: Two Way Radios, Pagers.
·
Netvox: Numeric Pager
·
Zetron : Pagin Systems
·
Control ware : ISDN Backup and Access
·
FMS:Time Scheduler System, Time
Scheduler System
·
Ultrak
The company imports radio, data Communication equipments and
electronic components.
The Company exports Radio and Data Communication Equipments
The Company is supplying Medical
Equipment/Solutions/Products to all major Hospitals, Institutions, OEMs and
Dealers through its large network.
It sells in the domestic market.
The subject is a part of ‘Sun Medical Systems’ which is an
18 years old company.
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 |
|
HISTORY |
1~10 |
5 |
|
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 |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market
trend (10%) Operational
size (10%)
RATING |
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 |