MIRA INFORM
REPORT
|
Report
Date : |
10.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
RISHABH INSTRUMENTS PRIVATE LIMITED |
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Registered
Office : |
Plot No. A-54, Marol, MIDC, Andheri (East), Mumbai
– 400 093, |
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Country
: |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
06.10.1982 |
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Com.
Reg. No.: |
11-28406 |
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CIN
No.: [Company
Identification No.] |
U31100MH1982PTC028406 |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturing and Exporting of test and measuring
instruments such as moving coil, moving iron and rectifier type ammeters,
voltmeters, transducer type frequency, paver factor, watt and VAR meters,
maximum demand meters, current transformers and shunts in technical
collaborations with Gossen Metrawatt GmbH, Germany. |
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
740000 |
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Status
: |
Good |
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Payment
Behaviour : |
Usually
Correct |
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Litigation
: |
Clear |
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Comments
: |
Subject
is a well-established and reputed company having fine track records. Directors are reported as experienced,
respectable and resourceful businessmen.
Their trade relations are reported as fair. Financial position of the company is good.
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 : |
Plot No. A-54, Marol, MIDC, Andheri (East), Mumbai –
400 093, |
|
Tel.
No.: |
91-22-26921425
– 26/ 56420680 |
|
Mobile
No.: |
91-98226-59410 |
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Fax
No.: |
91-22-26921427/
56420607 |
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E-Mail
: |
1. info@rishabh-instruments.com |
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Website
: |
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Factory
1 : |
·
Plot No. F-31, Satpur Industrial Area, MIDC, Tel. No.91-253-2351062/63 /
2202101 / 2202160 / 197 Fax No. 91-253-2351064 Telefax -
91-253-2352664 (Marketing) Telefax - 91-253-2352663 (Purchase) E Mail 1. info@rishabh-instruments.com 2. marketing@rishabh-instruments.com
Tel No. 91-253-2202312 Fax No. 91-253-2202314 |
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Branches
: |
Located
at :- ·
·
·
·
Kolkata, ·
·
Madhya Pradesh ·
·
Pune, ·
Mumbai, ·
·
·
Chennai, Tamilnadu |
DIRECTORS
|
Name : |
Mr.
Narendra J. Goliya |
|
Designation
: |
Managing
Director |
|
Address
: |
Ashiyana,
Samarth Nagar, |
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Date
of Birth/Age : |
20.09.1951 |
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Qualification
: |
B. Tech.
(IIT), M.S. ( |
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Experience
: |
28 Years |
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Date
of Appointment : |
06.10.1982 |
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Previous Employment |
Shanti
Electric Instruments - Partner (7 Years) |
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|
Name : |
Dr.
Mahesh Kumar Nathani |
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Designation
: |
Director |
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Address
: |
Meghe
Nivas, 30, Usha Kiran Society, |
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Date
of Birth/Age : |
11.10.1946 |
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Qualification
: |
Ph.D. |
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Experience
: |
31 years |
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Date
of Appointment : |
20.11.1992 |
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|
|
Name : |
Mr. Subasish
G. Roy |
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Designation
: |
Executive
Director |
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Address
: |
5, |
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Date
of Birth/Age : |
30.08.1954 |
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Qualification
: |
B. |
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Experience
: |
49 years |
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Date
of Appointment : |
01.08.1996 |
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Previous Employment |
Cadbury
India Limited |
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Name : |
Mr. Ashok
Jain |
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Designation
: |
Director |
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Address
: |
Daravilla,
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Date
of Birth/Age : |
04.02.1957 |
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Qualification
: |
MBA |
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Experience
: |
23 years |
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Date
of Appointment : |
20.11.1998 |
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|
Name : |
Mr.
Suresh N. Talwar |
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Designation
: |
Director |
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Address
: |
9 A/3,
Navjivan Society, |
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Date of
Birth/Age : |
21.11.1938 |
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Qualification
: |
LL.B. |
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Experience
: |
40 years |
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Date
of Appointment : |
20.11.1998 |
|
Name : |
Mr. Rajen
R. Vora |
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Designation
: |
Director |
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Address
: |
301, Marine
Apartments, 45, |
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Date
of Birth/Age : |
22.12.1952 |
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Qualification
: |
50 years |
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Experience
: |
Chartered
Accountants |
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Date
of Appointment : |
20.11.1998 |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr.
Narendra S. Goliya |
78275 |
|
Mrs. Asha
N. Goliya |
15000 |
|
Narendra
R Goliya (HUF) |
1725 |
|
Mr.
Rishabh N Goliya |
2500 |
|
Total |
97500 |
All the shares are held by directors or their relatives.
BUSINESS
DETAILS
|
Line
of Business : |
Manufacturing
and Exporting of test and measuring instruments such as moving coil, moving
iron and rectifier type ammeters, voltmeters, transducer type frequency, paver
factor, watt and VAR meters, maximum demand meters, current transformers and
shunts in technical collaborations with Gossen Metrawatt GmbH, Germany. |
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Products
: |
Ø
Digital Panel Meters – 9030.39 Ø
Panel Meters (Analog) – 9030.39
Ø
Current Transformers Ø
Shunts Ø
Electronic Synchroscope Ø
Digital Multimeters – 9030.31 Ø
Electrical Transducers Ø
Synchroscopes Ø
Digital Multimeters Ø
Multi Function Instruments Ø
Transducers – 9030.39 Ø
Dials Ø
Relays Ø
Measuring Instruments for Checking of Electrical Quantities. – 90303900 Ø
Insulation Testers Ø
Protection Relays Ø
Energy Management Systems (RishUrja) Ø
Moulds and Tools Ø
SMT PC Boards |
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Agencies
Held : |
˜
Gossen-Metrawatt GmbH Thomas-Mann-Str, 16-20, D-9071, ˜
Camille Baure AG Aarga Uerstrasse 7, CH-5610, |
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Exports
to : |
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Imports
from : |
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Terms
: |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (60 days) |
PRODUCTION STATUS
|
Particulars |
|
Unit |
Installed Capacity |
Actual Production |
|
Panel
Meters |
|
Nos |
720000 |
559766 |
|
Multi
meters |
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Nos |
50000 |
16448 |
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Transducer |
|
Nos |
30000 |
5495 |
GENERAL
INFORMATION
|
Suppliers
: |
Suparshwa Plastmoulds Private Limited Shri Sati Plastic & Chemicals Private Limited J K Engineering Sanyog Engineers |
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No. of
Employees : |
494 |
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Bankers
: |
Ø
ICICI Bank Limited Ø
IDBI Bank Limited Ø
State Bank of Satpur
Industrial Area Branch, Tel. No.
91-253-2350780 |
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Facilities : |
Secured Loan (figures are in Rs. Millions)
Unsecured Loan (figures are in Rs. Millions)
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Banking Relations : |
Satisfactory |
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Auditors
: |
Rajendra
P. Shah & Company Chartered Accountants |
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Address
: |
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Tel.
No.: |
91-253-2581631 / 2315737 |
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E-mail
: |
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Associates/Subsidiaries
: |
Ø
Meghana Bleaching and Dyeing Private Limited Ø
Geacons Electronics Private Limited Ø
Twin Engineers Private Limited Ø
Datar Switchgears Limited Ø
General Industrial Control Private Limited Ø
Crawford Bayley & Company Ø
Rishabh Applied Meters Private Limited |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares (Previous
Year 100000 Equity Shares of Rs. 100/- each) |
Rs. 100/- each |
Rs. 50.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
97,500 |
Equity
Shares |
Rs. 100/- each |
Rs. 9.750 millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
9.750 |
9.750 |
9.750 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
176.807 |
130.292 |
88.281 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
186.557 |
140.042 |
98.031 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
112.130 |
70.346 |
81.800 |
|
|
2]
Unsecured Loans |
45.597 |
33.257 |
29.278 |
|
TOTAL
BORROWING
|
157.727 |
103.603 |
111.078 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL
|
344.284 |
243.645 |
209.109 |
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APPLICATION OF FUNDS
|
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
198.671 |
125.790 |
77.381 |
|
Capital work-in-progress
|
0.066 |
0.677 |
49.440 |
|
|
|
|
|
|
|
INVESTMENT
|
16.000 |
0.000 |
0.322 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
93.154
|
80.815
|
58.505
|
|
|
Sundry Debtors
|
86.177
|
60.447
|
40.651
|
|
|
Cash & Bank Balances
|
6.455
|
2.828
|
4.413
|
|
|
Loans & Advances
|
34.417
|
15.992
|
14.169
|
Total Current Assets
|
220.203
|
160.082
|
117.738
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
69.379
|
31.346
|
31.688
|
|
|
Provisions
|
21.277
|
11.558
|
4.084
|
Total Current Liabilities
|
90.656
|
42.904
|
35.772
|
|
Net
Current Assets
|
129.547
|
117.178
|
81.966 |
|
|
|
|
|
|
|
TOTAL
|
344.284 |
243.645 |
209.109 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales
Turnover |
330.777 |
|
188.303 |
|
|
Other Income |
|
|
4.219 |
|
|
Total
Income |
330.777 |
259.464 |
192.522 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
80.211 |
54.252 |
30.249 |
|
|
Provision for Taxation |
0.000 |
6.119 |
3.730 |
|
|
Profit/(Loss) After Tax |
80.211 |
48.133 |
26.519 |
|
|
|
|
|
|
|
|
Total
Earnings |
20.722 |
161.176 |
125.786 |
|
|
|
|
|
|
|
|
Total
Imports |
NA |
81.582 |
80.885 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
NA |
NA |
94.462 |
|
|
Administrative Expenses |
NA |
NA |
13.202 |
|
|
Increase/(Decrease) in Finished Goods |
NA |
NA |
(2.943) |
|
|
Salaries, Wages, Bonus, etc. |
NA |
NA |
30.998 |
|
|
Interest |
5.282 |
6.279 |
NA |
|
|
Depreciation |
25.860 |
22.671 |
NA |
|
|
Other Expenditure |
219.425 |
176.261 |
7.563 |
|
Total
Expenditure |
250.567 |
205.211 |
143.281 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
24.25 |
18.55 |
13.77
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
24.25 |
20.91 |
15.71
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
19.15 |
18.93 |
15.50
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.43 |
0.38 |
0.31
|
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
1.33 |
2.04 |
1.51
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.43 |
3.73 |
3.22
|
LOCAL
AGENCY FURTHER INFORMATION
History
Recently,
the Registered Office of the company was shifted from Nashik to Mumbai.
Established
in 1985, subject is the leading company in the country to manufacture
state-of-the-art products, which include:
˜
Electrical
Indicating Instruments (Moving Coil and Moving Iron) also known as Panel Meters
˜
Current
Transformers.
˜
Shunts.
˜
Electronic
Synchroscope
˜
Digital
Multimeters
˜
Electrical
Transducers
It is
Since its founding, the
company has helped define and grow a unique technology market, providing
testing and troubleshooting capabilities that have grown to mission critical
status in manufacturing and service industries. Every new manufacturing plant,
office or facility built today represents another potential customer for its
products.
From industrial
electronic installation, maintenance and service, to precision measurement and
quality control, its’ tools help keep business and industry around the globe up
and running. Typical customers and users include technicians, engineers, metrologists,
and computer network professionals - people who stake their reputation on their
tools, and use tools to help extend their personal power and abilities.
Subject has achieved the
top position in every market in which it competes. The Rishabh brand has a
reputation for portability, ruggedness, safety, ease of use and rigid standards
of quality. The company’s products are
designed and manufactured to help more easily maintain a safe and reliable
power system.
Business
Results
During the year under
review, the sales of your company increased by 34% as compared to the previous
year. The members will have observed that the business sentiment has improved
in almost all sectors of economy, and business is growing both domestic and
international. The results of the year also reflect this buoyancy. Profit for
the year is also in line with the budget and substantially higher than the
previous year in absolute terms inspite of much higher depreciation. Last year,
the company has successfully completed its expansion programme by making an
investment of Rs. 60 millions on world class Tool Room and Research and
Development Centre at an independent location within Nashik. Because of the
buoyant market, your directors have to decided to invest another Rs. 100 millions
in new building, plant and machinery to increased the installed capacity for
the all the products for which an application for term loan in foreign currency
has been made to State Bank of India and work on the building has commenced on
11th May 2005.
The Team
The company is managed
by Mr. Narendra Goliya, the Managing Director of the company supported by a
team of qualified and experienced professionals which includes :
All these departments
are supported by qualified staff and engineers. The complete team is young,
dynamic, cooperative and geared up to accept challenges in this fast changing
business environment.
Setting the Standard for
Quality
All the company’s products
meet the highest standards for quality, reliability and safety. All of its
facilities are certified to full operational requirements of the ISO 9001
quality standard. Also, it is constantly striving to improve its quality
assurance position with input from periodic audits by independent experts
required for continued ISO 9001 certification.
Market Segments
The company’s product
lines are beneficial for professionals in a variety of markets. Primary
segments are listed below, and include a brief description of the types of
Rishabh's tools used along with their typical applications.
Today, electronics are
being integrated into an increasing number of electrical and electro-mechanical
systems. Rishabh's comprehensive lines of digital multimeters, Panel Meters,
Transducers are being used by a growing number of service technicians, plant
engineers and installation and maintenance technicians. These tools provide
them the ability to troubleshoot these complex new systems and detect problems.
The company
is in trade terms with :
Ø
GE
Plastics N.V., The
Ø
Maxim
Semi Conductor,
Ø
Ø
Crompton
Instruments,
Ø
Tyco
Electronics
Ø
Larsen
& Toubro, EBG Division, Powai, Mumbai
Ø
Crompton
Greaves Limited, International Division, Kanjurmarg
Ø Industrial Gears Limited,
Fixed assets
Ø
Land
Ø
Building
(Factory)
Ø
Building
(Residential)
Ø
Plant
And Machinery
Ø
Moulds
Ø
Furniture
And Fixtures
Ø
Equipments
Ø
Computers
Ø
Electrical
Installations
Ø
Scooter
And Motor Car
Contingent Liabilities :
The Central excise Department has
issued show cause notices amounting to Rs.9.074 millions which are under
litigation
Additionally cases decided in
their favour by Commissioner (Apparels) amounting ot Rs.2.397 millions
(Previous year Rs.0.706 millions) are pending for decision.
Certain claims / Show cause
notices disputed have not been considered as contingent liability as, in view
of management the possibility of a loss ins very less.
Profile
Subject is the world's biggest manufacturer and exporter of
Panel Meters, commanding over 50% in
The company has helped define and grow a unique technology
market, providing testing and troubleshooting capabilities that had grown to
mission critical status in manufacturing and service industries. Every new
manufacturing plant, office or facility built represents another potential
customer for company’s products.
From industrial electronic installation, maintenance and
service, to precision measurement and quality control, the company tools help
keep business and industry around the globe up and running. Typical customers
and users include technicians, engineers, metrologists and computer network
professionals – people who stake their reputation on their tools, and use tools
to help extend their personal power and abilities.
The company had achieved the top position in every market in
which it competes. The company’s brand had a reputation for portability,
ruggedness, safety, ease of use and rigid standards of quality. The company’s
products are designed and manufactured to help more easily maintain a safe and
reliable power system.
Setting the standard for quality
All company’s products meet the highest standards for quality,
reliability and safety. All facilities are certified to fulfil ISO 9001 quality
standard. Also, it is constantly striving to improve quality assurance position
with input from periodic audits by independent experts required for continued
ISO 9001 certification. They make adjustments and refinements in
responsibilities and procedures to make sure experience with company is always
world class.
Market segments
The company’s product lines are beneficial for professionals
in a variety of markets.
Electronics are being integrated into an increasing number
of electrical and electromechanical systems. Company’s comprehensive lines of
digital multimeters, Panel Meters, Transducers are being used by growing of
service technicians, plant engineers and installation and maintenance
technicians. These tools provide them the ability to troubleshoot these complex
new systems and detect problems.
The quality for the products is well accepted by every
customer in the world and the company has been accredited with ISO 9001
Certification by BVQI. The instruments are manufactured as per DIN, IEC and IS
Standards. It is also applying for UL 1437 Standard for safety: Electrical
Analogue Instruments Certification. All products of the company bear the CE
Making.
The company shall be a customer focused and quality
conscious organisation. These goals shall be achieved through the medium of
quality management system and quality objectives complying with ISO 9001:2000
standard.
Stockist shall provide necessary after sales services to all
customers in their territory. Stockist forward the defective meters received
during the warranty period directly to Nashik works without any delay. The
company’s engineers will investigate the problems and in case of any
manufacturing defect the same be rectified and returns free of cost within 7
days. However, if the problem is beyond any manufacturing defect the company
decides to service the meter at a reasonable charge with prior approval of the
customer/user of alternatively returned the meter after levying to and fro
freight charges.
Any stockiest/customer wanting to avail post-warranty
calibration services forward the meters to Nashik works through courier at
their cost and risk alongwith charges. The meter so received are calibrated and
sent back through courier.
Collaboration
The company had entered into a technical collaboration with
BBC – Metrawatt GmbH for the manufacture of Panel Meters, which had since
expired in 1993. In the collaboration agreement, technology with training and
quality control procedure were passed on to the Indian company. The quality had
been approved by Gossen-Metrawatt GmbH, a German Company in Electrical
Instruments.
The company had concluded a Technical Collaboration
Agreement in June, 1997 again with Gosen-Metrawatt GmbH for the manufacture of
Digital Mulitmeters, Insulation Testers and Transducers. The production of
Digital Multimeters, Insulation Testers had commenced already and production of
Electrical Transducers was expected to commence from August, 2001.
The company has technical collaboration with :
˜
Gossen-Metrawatt
GmbH
Thomas-Mann-Str, 16-20, D-9071,
˜
Camille
Baure AG
Aarga Uerstrasse 7, CH-5610, Wohlen
The company has a 100% Export Oriented Unit at
The company's 30% of the instruments are marketed by Larsen
& Toubro Limited (Group III - Standard Switchgear Products Division).
The company exports its products through Crompton Greaves
International Division all over the world except Europe and
The company's panel meters are exported to over 27 countries
by :
˜
CG
International - A division of Crompton Greaves Limited
˜
Weigel
˜
Shanti
The company has been accredited with ISO 9001 Certification.
The quality of the products is well accepted by every
customer in the world and the company had been accredited with ISO 9001
Certification by BVQI. The instruments are manufactured as per DIN, IEC and IS
Standards. It is also applying for UL 1437 Standard for safety : Electrical Analogue
Instrument Certification. All products of the company bear the CE marketing.
The company is a customer focused and quality conscious
organisation. These goals shall be achieved through medium of quality
management system and quality objectives complying with ISO 9001 : 2000
standard.
It has well developed departments such as Engineering,
Production Quality Control, Tool Room, Purchase, Stores, Personnel, Marketing,
Finance and Projects. Vendors have been developed for many of the processes
that need to be subcontracted.
All these departments are headed by experienced managers,
who are supported by qualified staff and engineers. The assembly area is centrally air
conditioned with dust control facilities antistatic environment for ESD areas.
The assembly area is equipped with state - of - the - art highly sophisticated
calibration and testing equipments. The Tool Room has capabilities to build
sophisticated tools for all kind of engineering plastics.
The company has a Windows NT based Multi - user Client
Server computer environment wherein an online integrated software has been
developed to monitor inventories, production, materials, financial accounting,
costing, office automation and HRD functions. The computer has 78 terminals
with structured cabling.
The company’s of important value include lease
Subject employs around 494 persons in its’ set up comprising
of 120 persons in office, 370 persons in factory and 4 others.
Subject operates from caption owned office premises of area
admeasuring 10000 sq.fts. Caption
factory premises no. 1 of area admeasuring 67300 sq.ft. is on a plot of 10300
sq.mtr and factory premises no. 2 of area admeasuring 16350 sq.ft is on a plot
of 9900 sq.mtr. Both are owned by the
company.
The
Company’s Fixed Assets of important value includes:
Ø
Ø
Building
Factory
Ø
Building
Residence
Ø
Roads
Ø
Plant
and Machinery
Ø
Jigs
Ø
Moulds
Ø
Furniture
and Fixtures
Ø
Equipment
Ø
Computers
Ø
Electrical
Installation
Ø
Technical
Know-how
Ø
Vehicle
It is in
trade terms with:
Ø
Udyog
Shraddha
Ø
Shivam
Techno Plast
Ø
Sanjit
Instrument Private Limited
Ø
Atharva
Associates
Ø
Deepkamal
Printing
Ø
Industrial
Solutions
Ø
J
K Engineering
Ø
S
S Dies Works
Ø
Precision
Electronics and Electrical Components
Ø
Mould
Makers
Press release
A seminar on
India
Globalization and Liberalization brought about revolutionary
change in the Indian Market. But instead of competing and getting the benefit
of open market, Indian manufactures are afraid of the competition. Will the
Industry be able to compete with the global giants in terms of International
Quality and Price? Is the changed scenario is an opportunity or threat for
Indian Manufactures?
Rishabh Instruments accepted this challenge as an
opportunity and set an example of success in this open Market.
Established in 1985, Rishabh Instruments today is one of the
Largest manufacturers of Analog Panel Meters in the WORLD and is a 100% Export
Oriented Unit catering to various markets of the World.
While the Multinationals are moving towards the Global
outsourcing from developing countries for cost benefits, Rishabh is moving
towards backward integration by way of establishing the world class
manufacturing facilities. Rishabh Instruments had struggled a lot to be able to
fulfill the International customers’ requirements and quality expectations. This has attracted Global companies like
Gossen-Metrawatt GmbH - Germany, Camille Bauer AG -
Rishabh Instruments has delivered the next generation, feature
filled electrical and electronics test and measuring Instruments at very
competitive prices. One by one Rishabh Instruments has launched Analog Panel
Meters, Digital Multimeters, Transducers, Protector trip Relays, Digital Panel
Meters, Digital Multifunction Instruments, Insulation Testers, Earth Testers.
In Parallel, Rishabh Instruments has also developed the
research and development capabilities. Today Rishabh is in position to deliver
R & D projects in Electrical Test and Measuring Instruments and Tools &
Moulds design within a definite time frame.
To expand these development activities, Rishabh Instruments
is opening a separate R & D
centre & a state of art Tool Room in
Nashik.
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts,
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.40.45 |
|
|
1 |
Rs.81.23 |
|
Euro |
1 |
Rs.55.00 |
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 |