MIRA
INFORM REPORT
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Report Date : |
03.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
APOLLO
MICROSYSTEMS PRIVATE LIMITED |
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Registered Office : |
Vaishnavi
Complex, Street No. 6, I Floor, Habsiguda, Hyderabad – 500007, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
03.03.1997 |
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Com. Reg. No.: |
01-26556 |
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CIN No.: [Company
Identification No.] |
U72200AP1997PTC026556 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA02999D |
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PAN No.: [Permanent
Account No.] |
AABCA9924D |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Subject
acts as Software Developers. It also
deal in all types of Software hi-tech systems, Hardware and other
electronics, Mechanical & Electromechanical processors. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
Company |
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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.
As per last available financials, the company’s financial position is
satisfactory. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
Vaishnavi
Complex, Street No. 6, I Floor, Habsiguda, Hyderabad – 500007, Andhra
Pradesh, India |
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Tel. No.: |
91-40-27176063/27175228/27154365/27152281 |
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Fax No.: |
91-40-27150820 |
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E-Mail : |
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Website : |
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Location : |
Rented
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Branches
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204,
Musuri Apartments, 8, Service Road, Domlur Layout, Bangalore – 560071,
Karnataka, India |
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Tel.
No.: |
91-80-5369147 |
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E-Mail
: |
DIRECTORS
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Name : |
Mr. B.
Karunakar Reddy |
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Designation : |
Managing
Director |
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Address : |
1-4-5,
Street No. 7, Habsiguda, Hyderabad – 500007, Andhra Pradesh, India |
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Date of Birth/Age : |
03.06.1962 |
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Date of Appointment : |
03.03.1997 |
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Name : |
Mr. B.
Sree Lakshmi Reddy |
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Designation : |
Director
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Address : |
D – 3,
Vaishnavi Complex, Street No. 6, Habsiguda, Hyderabad – 500007, Andhra
Pradesh |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr. B.
Karunakar Reddy |
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49270 |
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Mr. B.
Sree Lakshmi Reddy |
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10 |
BUSINESS DETAILS
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Line of Business : |
Subject
acts as Software Developers. It also
deal in all types of Software hi-tech systems, Hardware and other
electronics, Mechanical & Electromechanical processors. |
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Products : |
Airborne Embedded Systems Based
on 87C196KC Micro Controller 96
Digital Input Channels with Opto-isolation. 98
Digital Output Channels with Relay drive capability 12
Analog Outputs 48
Analog Inputs MIL-STD-1553
B BC/RT/MT Channel 5 SIOs
(RS 422 Interface) 16K
SRAM 32K
EEPROM with on board programming facility MIL-38999
Circular Connector for I/Os MIL-PRF-55110F
Certified Metalcore PCBs Available
in all Form-Factors (ATR
Rack, 19" Rack or any other Custom Built size) Designed
to meet MIL-STD-461C Watch
Dog Timer Also
available based on 80486 Processor, ADSP 21060 Data Acquisition and Recording System
[DARS] Based
on Motorola 68000 microprocessor VME
Bus Architecture High
Precision 16 channel, 12 bit Data Acquisition of 50 MHz bipolar input RS 422
communication interface Built-in
Self Test On
Board 4MB Non Volatile RAM DARS Test Panel Based
on Motorola 68000 microprocessor VME
Bus Architecture 68901
DUART RS 422
communication interface Built-in
Self Test On
Board 4MB Non Volatile RAM 8 channel
DAC 8 x 4
matrix keyboard interface 4
eight character alpha numeric display interface On-Board
Computer Based
on INTEL 80486 processor Supports
2UARTs(serial I/Os)-82510 for serial communication Supports
two programmable peripheral interfaces 16 Channel
ADC 8
Channel DAC 128KB-non
volatile RAM, 128KB boot ROM and 512KB application ROM Watch
dog timer |
GENERAL
INFORMATION
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Bankers : |
State
Bank of Hyderabad Habsiguda,
Hyderabad, Andhra Pradesh, India Global
Trust Bank [Presently Oriental Bank of Commerce] Habsiguda,
Hyderabad, Andhra Pradesh, India |
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Facilities : |
Credit
Limit : Rs. 13.500 millions [27.04.2005] |
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Banking Relations : |
Satisfactory
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Auditors : |
Lakshmana
Swamy & Associates Chartered
Accountants, Ameerpet,
Hyderabad – 500016, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
49280 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.492 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
Company’s
last available financials from all the possible sources are enclosed herewith.
No
subsequent financials could be available and management remained
non-cooperative.
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.492 |
0.492 |
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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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1.057 |
1.073 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.549 |
1.565 |
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LOAN FUNDS |
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1] Secured Loans |
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4.567 |
7.275 |
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2] Unsecured Loans |
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0.199 |
0.638 |
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TOTAL BORROWING |
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4.766 |
7.913 |
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DEFERRED TAX LIABILITIES |
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0.273 |
0.000 |
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TOTAL |
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6.588 |
9.478 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.254 |
2.743 |
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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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5.855 |
6.925 |
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Sundry Debtors |
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3.566 |
3.711 |
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Cash & Bank Balances |
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1.868 |
0.549 |
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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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0.764 |
0.295 |
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Total Current Assets |
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12.053 |
11.480 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
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7.723 |
4.749 |
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Total Current Liabilities |
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7.723 |
4.749 |
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Net Current Assets |
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4.330 |
6.731 |
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MISCELLANEOUS EXPENSES |
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0.004 |
0.004 |
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TOTAL |
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6.588 |
9.478 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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Sales Turnover [including other income] |
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18.314 |
12.464 |
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Net
Profit |
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0.452 |
0.384 |
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Total
Expenditure |
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17.861 |
12.079 |
KEY
RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
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2.46 |
3.08 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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2.46 |
3.08 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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3.15 |
2.69 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.29 |
0.24 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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8.06 |
8.09 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.56 |
2.41 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE
DETAILS
Apollo Microsystems Private Limited (AMS), established in 1985, has a
heritage of advancing technology in the field of Industrial, Defense and
Aerospace Electronic Systems. They have devoted significant R & D efforts
to develop expertise in these fields leading to an unmatched reputation for
developing critical and time-bound turnkey projects. AMS is headed by a team of
eminent professionals having rich experience in the field of Avionics from
top-notch Defense Establishments.
Their products are time-tested in strategic areas like Missile, Airborne
Systems, Communication Systems, Tank Electronics and several other
mission-critical on-board and ground applications. Their product portfolio
includes High Speed Data Acquisition Systems, Control Systems, Signal
Processing, Telemetry products like Decommutator, Frame Synchronizer,
Simulators and Automated Test Equipment based on standard platforms. AMS is the
market leader in MIL-STD-1553B based products.
AMS has state-of-the-art infrastructure including the latest ECAD and VLSI
design Tools, Software and Firmware development tools like Cross-Compilers,
Debuggers, Simulators and Emulators for a broad range of microprocessors,
microcontrollers and DSPs, Mechanical design tools and advanced test equipment.
Quality is not just a word for them at AMS; it is the essence of their
existence. Their exceptional quality comes from rigorous engineering
procedures. Their products go through stringent environmental and EMI/EMC
evaluation procedures as per mission-critical requirements. They have the
necessary experience and capability to design and develop electronic systems
meeting applicable clauses of standards such as JSS 55555, JSS 10101, JSS
53202, JSG 0283, MIL-STD-481D, MIL-STD-1385 etc. Software documentation is done as per MIL-STD-2167A and
IEEE-STD-12207.
Their Engineering team is ready to work with you to design and develop Quality
Systems. Providing them with the requirement specifications sets a precise
process in motion. Once the System Specifications are given to them, they do
the design, critical component identification and sourcing, software
development, detailed engineering such as modeling and simulation, PCB design,
Mechanical Packaging design, fabrication, assembly, system integration, testing
and production, all in close coordination with you.
Alternatively, you can give them the proto-system and entrust production
activities. At AMS, they just don’t promise, they deliver Quality systems. You
can treat them as an extension of the team.
Rely on them to convert the concepts into reality
….. through a single window facility.
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.44.20 |
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UK
Pound |
1 |
Rs.86.88 |
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Euro |
1 |
Rs.58.53 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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30 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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