MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ELDYNE ELECTRO SYSTEMS PRIVATE LIMITED |
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Registered Office : |
P-21, |
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Country : |
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Financials (as on) : |
31.03.2001 |
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Date of Incorporation : |
20.05.1987 |
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Com. Reg. No.: |
21-42371 |
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CIN No.: [Company
Identification No.] |
U32109WB1987PTC042371 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALE00577D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Railway Signaling Relays and Equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
The company is poor in corporate governance. It has not filed /
prepared financials after 2001. Management of the company remained non-cooperative during current
investigation. The company’s estimated annual sales may be in the region of Rs.
20.000 Millions. The company can be considered for any business dealing on safe and
secured trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
P-21, |
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Tel. No.: |
91-33-2815454 / 25519647 / 25519063 / 2281 5425 / 2281
5426 |
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Fax No.: |
91-33-22815757 |
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E-Mail : |
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Area : |
1600 square fts [Owned] |
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Head Office : |
3, |
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Tel. No.: |
91-33-2377855/2377841/2378851 |
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Fax No.: |
91-33-2255685 |
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Factory 1 : |
EP – 14/1, Prafulla Kanan, Krishnapur, Kolkata – 734511,
West |
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Tel. No.: |
91-33-5719063/5719647 |
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Area : |
20,000 square fts. [Owned] |
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Branches : |
19-A, 2nd Floor, |
DIRECTORS
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Name : |
Mr. Santanu Basu |
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Designation : |
Managing Director |
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Address : |
P-21, |
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Date of Birth/Age : |
13th December, 1954 |
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Qualification : |
Graduate in Commerce, Diploma
in Business Administration & Marketing |
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Other
Directorship : |
1.
Eldyne Electronics Private Limited 2.
Radio & Accessories ( 3.
Eldyne Macro Systems ( 4.
Tarit Appliances & Equipment
(1989) Private Limited |
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Name : |
Mrs. Sudha Bose |
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Designation : |
Director |
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Name : |
Mrs. Roma Raha |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Railway Signaling Relays and Equipments. |
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Products : |
Ø
Electric and electronic relays, classified by use Ø
Electrical signaling and safety equipment for
railways and tramways Ø
Railway track construction and maintenance
machinery and equipment Ø
Transport infrastructure plant, machinery and
equipment |
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Brand Names : |
‘ELDYNE’ |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Credit terms |
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Purchasing : |
Cash, Credit – 60 to 90 Days terms |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
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Signalling Relays |
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60,000 Relays |
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Axle Counters – ZP30CA |
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Axle Counter – AzL90 – M |
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GENERAL INFORMATION
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Customers : |
Railway Board of |
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No. of Employees : |
50 |
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Bankers : |
State Bank of India, Bhowanipur SSI Branch, 11, Dr. U N
Brahmacharyee Street, Calcutta – 700 017, West Bengal, India. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S S Mitra & Company Chartered Accountants |
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Address : |
48-A, |
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Affiliates
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Ø
Eldyne Electronics Private Limited Ø
Eldyne Macro Systems ( Ø
Radio & Accessories ( Ø
Tarit Appliances & Equipment
(1989) Private Limited |
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Group : |
ELDYNE Group Company – Having business interests in power,
distribution, current and potential transformer and components. |
CAPITAL STRUCTURE
AS ON 31.03.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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40,000 |
Equity Shares |
Rs.100/-
each |
Rs.4.000
millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2,000 |
Equity Shares |
Rs.100/-
each |
Rs.0.200
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
No subsequent financials are available.
Management remained non-cooperative during current investigation.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2001 |
31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.000 |
3.000 |
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2] Share Application Money |
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1.057 |
0.177 |
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3] Reserves & Surplus |
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2.696 |
2.373 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.753 |
5.550 |
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LOAN FUNDS |
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1] Secured Loans |
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5.153 |
6.367 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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5.153 |
6.367 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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11.906 |
11.917 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.558 |
1.483 |
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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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7.307 |
8.858 |
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Sundry Debtors |
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6.668 |
11.771 |
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Cash & Bank Balances |
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1.380 |
1.334 |
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Other Current Assets |
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0.348 |
0.153 |
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Loans & Advances |
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1.169 |
0.594 |
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Total
Current Assets |
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16.872 |
22.710 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.906 |
11.745 |
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Provisions |
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0.618 |
0.531 |
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Total
Current Liabilities |
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6.524 |
12.276 |
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Net Current Assets |
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10.348 |
10.434 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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11.906 |
11.917 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2001 |
31.03.2000 |
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Sales Turnover |
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23.898 |
31.797 |
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Other Income |
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Total Income |
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23.898 |
31.797 |
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Profit/(Loss) Before Tax |
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1.395 |
0.748 |
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Provision for Taxation |
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0.490 |
0.260 |
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Profit/(Loss) After Tax |
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0.905 |
0.488 |
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Imports : |
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Stores & Spares |
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0.960 |
7.203 |
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Capital Goods |
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Others |
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Total Imports |
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0.960 |
7.203 |
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KEY RATIOS
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PARTICULARS |
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31.03.2001 |
31.03.2000 |
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PAT / Total Income |
(%) |
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3.79 |
1.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.84 |
2.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.57 |
3.09 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.13 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.73 |
3.36 |
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Current Ratio (Current Asset/Current Liability) |
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2.59 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
History
ELDYNE Group come into the existence in 1950 and Mr. Santanu
Basu is its third generation entrepreneur.
The company is going to start its second factory at Salt Lake
Electronics Complex by December, 2001 and for this, it has already acquired
7200 square fts of land.
Business
Subject is specialised turnkey project engineering company
catering to
Electronic Reset Box for Axle Counter, Electronic Testing
Equipment (Tool Kit) for Digital Axle
Counter, Plug-in and shelf type safety signalling relays, Electric Point
Machine, Control Panels, etc.
The company is in technical collaboration with:
Ø
M/s Alcatel Sel AG,
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M/s
The company’s customers includes Government Bodies.
Subject has received an ISO 9002 certificate.
Subject is in trade terms with:
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Advance Sig Contacts,
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Alcatel Sel AG,
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Bayer (
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G E (Plastics
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AS PER WEBSITE
Profile
In
Search of excellence
A dream, back in middle of 20th century,
of an entrepreneur having ambition and personal commitment towards establishing
a technology driven manufacturing organization centering around high
technology, futuristic products and systems, which will be useful in the
overall development in the country, is now a team in reality serving nation and
beyond.
"50s…
“Established itself and before long pioneered in manufacturing
wireless receiving sets for defense in collaboration with contemporary global
leaders of the technology from
"60s…
The group entered into power sector and established itself as a
leading supplier of wide range of transformers for State Electricity Boards
& Railways.
"80s…
The Railway Automation Division was setup to manufacture
signalling safety relays and point machines for Railways.
"90s…
Eldyne & Alcatel, a global leader in transport automation,
entered into a co-operation agreement providing fully project engineered
signalling automation solution for Indian and International Railways.
2000… Eldyne
believes the future is virtually limitless and customers are core members of
its innovation team!”
Products
Safety
Signaling Relay Style EBA
Description
A Miniature Tractive Armature AC
Immune DC Biased neutral line relay, plug-in-type for Railway Signaling
purpose.
General Data:
- Nominal rated
voltage: 24V & 50V DC.
- Standard
Contact Arrangement: 12F/4B, 8F/8B, 8F/4B, 6F/6B, 4F/4B.
- Contact
rating: Continuous 3 Amps.
- Typical
operate time: 220 ms.
- Release time:
50 ms.
- Weight: 1.5
kgs. (approx).
- Environmental
Characteristics: exceeds BS 2011.
- Excellent
Vibration / Shock characteristics.
Features
- Safety
signaling relay conforming to BR Standard giving high level of reliability
over 1 million in service.
- Fine Silver
to Silver Impregnated Graphite safety contact prevent welding.
- Fine Silver
moving contact riveted and soldered on to Phosphor Bronze Spring to ensure
good electrical connection.
- Armature
Torque provided by gravity and Helical Spring maintaining front contact
gap when relay de- energized.
- Moulded relay
base, which interlocks with its respective Plugboard.
Digital Axle Counters
Services
Project Engineering
Installation Testing Commissioning
Warranty Services
AMC
On-call Services
Training
Consultancy
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.78 |
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1 |
Rs.81.34 |
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Euro |
1 |
Rs.55.53 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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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