MIRA
INFORM REPORT
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Report Date : |
21.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SUMITRON EXPORTS PRIVATE LIMITED |
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Registered Office : |
27, Community Centre, Naraina Industrial Area, Phase – I, New
Delhi-110028 |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.12.1990 |
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Com. Reg. No.: |
55-129507 |
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CIN No.: [Company
Identification No.] |
U51909DL2004PTC129507 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of electricals, electronics gadgets and home appliances. |
RATING & COMMENTS
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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 59000 |
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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 / Head Office : |
27, Community Centre, Naraina Industrial Area, Phase – I, New
Delhi-110028, |
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Tel. No.: |
91-11-41410631/41410632/41410633/41410634/41410635 |
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Fax No.: |
91-11-41410494/25891761/25259550 |
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E-Mail : |
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Website : |
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Area : |
5000 (Sq.ft.) (H.O., Owned) |
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Branches : |
Located at : Tel. No.: 91-80-22223593/22228178/51125584 Fax: 91-80-22244783; E-Mail:sumitronblr@touchtelindia.net / bangalore.sumitron@airtelbroadband.in Chennai Phone:91-44-22418525
Mumbai Phone: 91-22-55983237 Fax:91-22-25779522
Pune Phone : 91-20-56207695 Mobole:93733-33801 E-Mail: pune@sumitron.com Kolkata
(Resident Rep) Phone: 91-33-26405752 E-Mail: sumitronkol@yahoo.com |
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Area : |
6000 sq.ft.
(Rented) |
DIRECTORS
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Name : |
Mr. Shiv Kumar Jain |
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Designation : |
Managing Director |
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Address : |
A-2/127, Paschim Vihar, |
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Age : |
51 years |
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Qualification : |
B.E., MBA |
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Experience : |
27 years |
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Date of Appointment : |
13.12.1990 |
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Name : |
Ms. Sunita Jain |
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Designation : |
Director |
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Address : |
A-2/127, Paschim Vihar, |
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Age : |
48 years |
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Qualification : |
Post Graduate |
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Experience : |
21 years |
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Date of Appointment : |
20.03.1993 |
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Name : |
Mr. Sumeet Jain |
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Designation : |
Director |
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Address : |
A-2/127, Paschim Vihar, |
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Age : |
25 years |
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Qualification : |
B.E. (Electronics) |
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Experience : |
4 years |
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Date of Appointment : |
20.03.1993 |
KEY EXECUTIVES
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Name : |
Deepak Bansal & Associates |
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Designation : |
Company Secretary |
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Address : |
E-102/2, Naraina Vihar, New Delhi-110028 |
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Tel. No.: |
91-11-41415105 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shiv Kumar Jain |
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56510 |
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Sunita Jain |
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19530 |
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Ashok Kumar Jain |
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1000 |
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Mukesh Kumar Jain |
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3100 |
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Maya Devi Jain |
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1650 |
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Sheela Devi Jain |
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1600 |
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Elaichi Devi Jain |
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4700 |
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Sumeet Jain |
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6250 |
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Rohit Jain |
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30300 |
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Ram Bilas Jain |
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2400 |
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Shiv Kumar Jain - HUF |
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1400 |
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Vikas Kumar |
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4400 |
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J Singh Trading and Investment Company Private Limited |
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10000 |
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Kuberco Sales Private Limited |
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10000 |
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Basant Agency Private Limited |
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10000 |
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Roopali Marketing Private Limited |
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10000 |
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172840 |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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38.00 % |
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Directors or relative of directors |
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60.00 % |
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Top fifty shareholders |
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2.000 % |
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Total |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of electricals, electronics gadgets and home appliances. |
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Products : |
Equipment, Tools, Materials and Components for Electronic Manuacturing
and Repair |
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Agencies held : |
I&J ACL Incorporation, Hakko Corporation, Kilews Industrial W Limited, Tag International, Eraser, Megaphase, ITW NIC, |
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Imports : |
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Countries : |
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Products : |
Liquid/ Paste Dispensers ESD Control Products |
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Trade Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
•
India Private Limited,-Bangalore • NOKIA-Chennai |
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No. of Employees : |
58
(In Office : 25, In Branch :33) |
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Bankers : |
HDFC
Bank Limited, community Centre, Naraina, Phase I, New Delhi-110028 |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R. Bhargava and Associates Chartered Accountants |
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Address : |
92-C, GH-10, Sunder Apartments, Paschim Vihar, |
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Tel. No.: |
91-11-25255096 |
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Sister Concerns
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Sumitron Marketing 27, Community Centre, Naraina, Phase I, New Delhi-110028 Line of Business : Agency Business |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs. 10/- each |
RS. 3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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212840 |
Equity Shares |
Rs. 10/- each |
Rs. 2.128
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.128 |
1.728 |
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2] Share Application Money |
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5.750 |
1.500 |
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3] Reserves & Surplus |
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6.939 |
4.677 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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14.817 |
7.905 |
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LOAN FUNDS |
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1] Secured Loans |
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2.692 |
0.905 |
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2] Unsecured Loans |
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3.785 |
3.365 |
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TOTAL BORROWING |
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6.477 |
4.270 |
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DEFERRED TAX LIABILITIES |
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0.160 |
0.478 |
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TOTAL |
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21.454 |
12.653 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.456 |
4.137 |
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INVESTMENT |
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0.314 |
0.062 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.398 |
3.976 |
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Sundry Debtors |
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23.224 |
12.033 |
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Cash & Bank Balances |
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1.632 |
0.595 |
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Other Current Assets |
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2.236 |
1.675 |
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Loans & Advances |
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0.000 |
0.567 |
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Total
Current Assets |
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32.490 |
18.846 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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14.001 |
9.757 |
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Provisions |
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1.805 |
0.639 |
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Total
Current Liabilities |
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15.806 |
10.396 |
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Net Current Assets |
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16.684 |
8.450 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.004 |
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TOTAL |
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21.454 |
12.653 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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111.208 |
70.425 |
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Other Income |
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3.479 |
3.858 |
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Total Income |
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112.356 |
72.554 |
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Profit/(Loss) Before Tax |
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1.218 |
0.773 |
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Provision for Taxation |
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0.555 |
0.586 |
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Profit/(Loss) After Tax |
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0.663 |
0.187 |
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Expenditures : |
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Financial Charges |
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2.331 |
1.729 |
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Depreciation |
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1.113 |
0.956 |
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Other Expenditures |
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108.912 |
69.869 |
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Total Expenditure |
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112.356 |
72.554 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.59 |
0.26 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.08 |
1.06 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.30 |
3.36 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.50 |
1.86 |
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Current Ratio (Current Asset/Current Liability) |
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2.06 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from Shiv Nagar,
Behind Gandhi Mandi, Panipat – 132103, Haryana to the present address w.e.f. 4th
September, 2004
Trade References :
v
Sunfibre Group,
v
Minda Group, Pune/ Gurgaon
AS PER WEBSITE
Subject has come a long way to achieve it’s present status.
Milestones achieved till date
October 1986 : Inception of SUMITRON MARKETING to aid direct imports by their
customer against F.E. PAYMENTS to their principals. They help customers
identify the right kind of products for their applications, provide them with
quotations and after sales support . They enable electronic
manufacturing/repair industry in
April 1987 :
June 1990 : Mumbai Branch was set-up to provide prompt support in the western
region of their country.
December 1990 : Subject, was formed to facilitate direct imports by them from
their principal so as to make easy and quick availability of quality
world-renowned brands against RUPEE PAYMENTS.
August 1996 : Chennai Branch was established to strengthen business in southern
September 1998 : Head Office was shifted to a bigger and their own premises.
October 1998 :
January 2003 : SHOWROOM was set-up at their H.O. premises to show-case the
product they market .
January 2003 : Branch Office was established in Pune to cater to the growing
Automobile industry in that region.
March 2005 : Kolkata Office started.
March 2006: Achived ISO 9001 certificate
Managing Director
Born in December, 1955, Mr. S. K. Jain is today heading two
well known organizations – Subject, and Sumitron Marketing , in the Electronics
industry.
A first-class-first graduate in Electronics Engineering and
a post graduate in Business Management, Mr. Jain today has behind him a rich
experience of 28 years in the field of marketing & servicing of
equipment/components/instruments of reputed foreign companies.
With
his innovative ideas and diligent approach, he has brought many–a-products from
his overseas principal for the benefit of Electronics Industry in
VICE PRESIDENT
An M-tech (First-class-first) from IIT-Delhi .Mr.
Subbaramayya has a rich experience of over three decades in the field of
Electronics & Telecommunication. This includes 10-years tenure as a Senior
Scientist in the Defense Research & Development Organisation (DRDO), where
he was involved in design and development of various Electronics subsystems of
missile and airborne application.
Philosophy
- To source
& offer the best of products with the latest technology at highly
competitive prices.
- Their Customer’s
Gain is their Gain.
- To see all
their customers absolutely satisfied with their products and services.
They live by their motto of Excellence in service.
- Cultivate the
Team Spirit so as to provide the Best Support to their valued customers.
- Be Focused to
achieve the best of result in shortest possible time.
- Think
Long-Term since they believe that to be the sole strength of any
successful business.
Stock/Inventory
A well stocked warehouses that also includes essential spare parts for all the
equipment and tools supplied to their valued customers.
EXCELLENT Service Support
Most reliable, efficient and un-matched service back-up provided by well
qualified and trained SUMITRON engineers.
Vision for the Future
- Further
build-up their image of QUALITY PRODUCTS & SERVICES PROVIDER to the
electronics manufacturing industry
- Introduction
of outgoing inspection and self certification programs.
- Keep abreast
with the emerging technology to offer TOTAL SOLUTION to their valued
customers.
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.40.82 |
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|
1 |
Rs.81.18 |
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Euro |
1 |
Rs.54.79 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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 |
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