MIRA
INFORM REPORT
|
Report Date : |
16.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
MEGNOSTAR TELECOMMUNICATIONS PRIVATE LIMITED |
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Registered Office : |
B-47/1, Wazirpur
Group Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.07.1995 |
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Com. Reg. No.: |
55-70532 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC070532 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM08598C |
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PAN No.: [Permanent
Account No.] |
AAACM6337M |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer, Dealer, Distributor and Importer of Printer (HP/WIPRO/TVS),
Modem (INTEL), UPS (NIPUN ENE), Mast, Towers, Antenna, SMPS, Defence |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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 85000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
B-47/1, Wazirpur
Group Industrial Area, |
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Tel. No.: |
91-11-25780042 |
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Fax No.: |
91-11-25815154 |
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E-Mail : |
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Website : |
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Head Office : |
119, |
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Tel. No.: |
91-11-25780042 / 25710633 |
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Fax No.: |
91-11-25815154 |
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E-Mail : |
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Factory 1 : |
1297, modern Industrial Area, Bahadurgarh, |
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Tel. No.: |
91-1183-55478662 |
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Fax No.: |
91-1183-55478662 |
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E-Mail : |
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Area : |
15000 sq. ft |
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Location : |
Owned |
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Factory 2 : |
205, Vishal Chambers, Sector-18, Noida, Uttar Pradesh |
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Area : |
1800 sq. ft |
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Location : |
Owned |
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Branches : |
# 95/3, 2nd
Floor, NCPR Towers, Ring Road, Marathahalli P. O. Doddanekkundi, Bangalore,
Karnataka, India |
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Tel. No.: |
91-80-25225535/45 |
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Fax No.: |
91-80-25225515 |
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E-Mail : |
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Area : |
3500 sq. ft |
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Location : |
Rented |
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Branches : |
4, |
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Tel. No.: |
91-522-2237502/2239784 |
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Fax No.: |
91-522-2239784 |
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E-Mail : |
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Area : |
1700 sq. ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mrs. Venu Nayar |
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Designation : |
Director |
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Address : |
237, Sainik Vihar, Near Rani Bagh, |
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Date of Birth/Age : |
30.07.1963 |
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Date of Appointment : |
06.07.1995 |
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Name : |
Mr. Ashwani Kumar Nayar |
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Designation : |
Managing Director |
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Address : |
237, Sainik Vihar, Near Rani Bagh, |
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Date of Birth/Age : |
05.06.1959 |
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Date of Appointment : |
06.07.1995 |
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Name : |
Mrs. Tulsi Sehgal |
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Designation : |
Director |
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Address : |
A-5, Mahendru Enclave, G. T. Karnal Road, Delhi – 110033, India |
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Date of Birth/Age : |
08.01.1975 |
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Date of Appointment : |
06.07.1995 |
KEY EXECUTIVES
|
Name : |
Richa Aroa |
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Designation : |
Company Secretary |
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Address : |
J-1/2B, |
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Tel. No.: |
91-11-23320991 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2006
|
Names of Shareholders |
|
No. of Shares |
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S. K. Sahgal – HUF |
|
1200 |
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Ashish Sehgal |
|
1200 |
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Ashwani Kumar Nayar |
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1200 |
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Venu Nayar |
|
550 |
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Total |
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4150 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Dealer, Distributor and Importer of Printer
(HP/WIPRO/TVS), Modem (INTEL), UPS (NIPUN ENE), Mast, Towers, Antenna, SMPS,
Defence |
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Agencies Held : |
Ř
HP Ř
WIPRO Ř
TVS Ř
LOGIC ++ Ř
Ř
Conplex, Ř
Suntek, |
GENERAL INFORMATION
|
Customers : |
End Users, Indian Army
/ Navy / Air Force / Railway / BSF / CRPF / ITBP / NSG / DCPW / I. N. / State Police Organisation all over |
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No. of Employees : |
100 |
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Bankers : |
Corporation Bank, Paschim Vihar Branch, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sanjay Pandey and Associates Chartered Accountant |
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Address : |
B 1/9, Lajpat Nagar, New Delhi-110024, |
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Tel. No.: |
91-11-29818557 |
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Associates/Subsidiaries : |
Ř
Nayar Power Control Private Limited, 1289, Modern
Industrial Area, Bahadurgarh, -- CVT, Servo Stabilizer and Ups Ř
Spectrum Power Control, -- AVR, Invertor, Convertor Ř
3G Wireless Communications Private Limited,
#95/3, 2nd Floor, NCPR Tower, Ring Road, Marathahalli P. O.,
Dodanekkundi, Bangalore, Karnataka, India -- Digital Trunkey Radios and Security
Items- Tyco/Maycon. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
87150 |
Equity Shares |
Rs.100/- each |
Rs. 8.715
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
8.715 |
8.300 |
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2] Share Application Money |
|
0.000 |
1.775 |
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3] Reserves & Surplus |
|
12.729 |
9.542 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
21.444 |
19.617 |
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LOAN FUNDS |
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1] Secured Loans |
|
37.840 |
22.813 |
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2] Unsecured Loans |
|
72.634 |
68.076 |
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TOTAL BORROWING |
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110.474 |
90.889 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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131.918 |
110.506 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.203 |
10.517 |
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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 |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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118.065 |
171.656 |
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Sundry Debtors |
|
153.488 |
153.407 |
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Cash & Bank Balances |
|
10.209 |
21.854 |
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Other Current Assets |
|
0.106 |
0.107 |
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Loans & Advances |
|
14.923 |
15.440 |
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Total
Current Assets |
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296.791 |
362.464 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
172.912 |
262.477 |
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Provisions |
|
1.164 |
0.000 |
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Total
Current Liabilities |
|
174.076 |
262.477 |
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Net Current Assets |
|
122.715 |
99.987 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.002 |
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TOTAL |
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131.918 |
110.506 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
375.488 |
530.283 |
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Other Income |
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1.836 |
1.857 |
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Total Income |
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364.085 |
515.958 |
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Profit/(Loss) Before Tax |
|
3.244 |
3.936 |
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Provision for Taxation |
|
1.681 |
2.092 |
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Profit/(Loss) After Tax |
|
1.563 |
1.844 |
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Total Earnings |
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0.426 |
0.000 |
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Total Imports |
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24.009 |
84.736 |
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Expenditures : |
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Financial Charges |
|
7.896 |
10.151 |
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Depreciation & Amortization |
|
2.099 |
2.095 |
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Other Expenditure |
|
354.090 |
503.712 |
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Total Expenditure |
|
364.085 |
515.958 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.43 |
0.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.89 |
0.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.06 |
1.05 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15 |
0.20 |
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Debt Equity Ratio (Total Liability/Networth) |
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13.27 |
18.01 |
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Current Ratio (Current Asset/Current Liability) |
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1.70 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
- Electricity
Fitting
- FPABX
- Furniture/Fixture
- Office
Equipment
- Plant and
Machinery
- Office
Furniture
- Water Filter
- Scooter
- Car
It is in trade terms with :-
Ř
Gerrard Correya
C/o, 3G Wireless Communications Private
Limited,
#95/3, 2nd Floor,
P. O. Doddanekkundi,
Ř
I. P. Singh, Dy CAG
25,
Mobile No :- 91-6810042359
Ř
K. K. Khanna, The Director, Custom and Central
Excise,
C-299, Vikaspuri,
Ř
Mr. Sanjay Bhasin C/o Aeon Communications, 4,
19, Vidhan Sabha Marg,
Ř
Mr. M. M. Gambhir C/o SMJ International, 18/36,
East Patel Nagar,
Bankers Charges
Report as per Registry
|
Name of the company |
MEGNOSTAR
TELECOMMUNICATIONS PRIVATE LIMITED |
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Presented By |
CORPORATION
BANK, PASCHIM VIHAR BRANCH AND COMPANY |
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1) Date and description of instrument creating the change |
Common deed of
hypothecation of Movables, Assets , Debts dated 03.07.2004 and Reg. on
26.07.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
entire inventory and book debts of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
shall be @ 12.5 % p.a. being 2 % over and above COBAR with 10.5 % p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Corporation Bank, Paschim Vihar Branch, |
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6) Date and brief description of instrument modifying the charge |
Supplemental
common deed of hypothecation of movable / assets / debts dated 27.10.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The limit
enhanced from Rs. 40.000 Millions to Rs. 70.000 Millions
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
90038632 |
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Corporate identity
number of the company |
U74899DL1995PTC070532 |
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Name of the
company |
MEGNOSTAR TELECOMMUNICATIONS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
B-47/1, Wazirpur Group
Industrial Area, |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Corporation Bank, Paschim Vihar Branch, |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
common deed of hypothecation of movable / assets / debts |
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Date of
instrument Creating the charge |
04.03.2007 |
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Amount secured by
the charge |
Rs. 92.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest
shall be @ 12.5 % pa. being 2 % over and above cobra with 10.5 % p.a. |
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Short particulars
of the property charged |
Hypothecation of
entire inventory and book debts of the
company. |
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Date of latest
modification prior to the present modification |
27.10.2005 |
|
Particulars of
the present modification |
The limit
enhanced from Rs. 70.000 Millions to Rs. 92.000 Millions |
As per website
Subject a highly diversified and fast growing Company in the field of
Telecommunication is engaged in marketing of Transceivers and accessories in HF/VHF/UF
Band including Marine and Air Band application and are distributor for ICOM
range of Transceivers in
Subject has small scale manufacturing unit registered with DGS&D, a nodal
agency of the Govt. of India, DGQA-Ministry of Defence and other major
Departments for supply of equipment. Subject is also registered with NSIC and
their facilities for supply of Computers & Peripherals has been approved
for the award of Rate Contract by DGS&D (Directorate General of Supply and
Disposals), Govt. of India. With their R&D facility, they are in a position
to supply equipment meeting specifies needs of major organization including
undertaking of Turnkey Projects.
In information Technology, they have enlarged their range and have full fledge
computer Division is providing specialized Services in supply, installation and
After Sale Service Support to Pentium Base Multi-Media Systems, LAN, WAN, and
other special requirement for meeting specific needs of various organizations.
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.40.97 |
|
|
1 |
Rs.80.73 |
|
Euro |
1 |
Rs.54.56 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 EXPLANATIONS
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|