MIRA
INFORM REPORT
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Report Date : |
22.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ACCUREX SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
26.02.1987 |
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Com. Reg. No.: |
8207 [MRS/AABCA6815F] |
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CIN No.: [Company
Identification No.] |
U72100KA1987PTC008207 |
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IEC No.: |
0792005043 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA02061D |
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PAN No.: [Permanent
Account No.] |
AABCA6815F |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Distributors of Mydata-Pick and Place, Reprint-Screen Printer, VI
Technology, Automated optical Inspection, Glenbrook Technologies, X-ray
inspection system, Xuron-Cutters and pliers, JTEE, Rejlow and wave Soldering,
Pace BGA Rework station. |
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 10000 |
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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.
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 : |
3/1, 2nd Floor, Sri Narayana Mansion, Diwan Narayan
Madhava Rao Road, Basavangudi, Bangalore - 560 004, Karnataka, INDIA |
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Tel. No.: |
91-80-26614627 / 26604595 / 41203784 / 26620514 |
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Mobile No.: |
91-9845049093 |
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Fax No.: |
91-80-41203785 |
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E-Mail : |
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Website : |
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Area : |
1600 sq. ft. [Rented] |
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Factory 1 : |
Module No. 17, Block II, Sidco Electronics Complex,
Gaindy, Industrial Estate, Chennai |
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Area : |
1500 sq. ft. |
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Location : |
Rented |
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Sales Office : |
Located at :
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Branches : |
862 Ground Floor, Saraswati Vihar, M G Road, Gurgaon –
122002, Haryana, India |
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Tel. No.: |
91-9818690136 |
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Area : |
1050 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. K N Rammohan |
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Designation : |
Director |
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Address : |
No. 444, 11th Main, Podmanabhanagar, |
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Date of Birth/Age : |
47 Years |
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Qualification : |
M. Sc. |
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Experience : |
20 Years |
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Name : |
Mr. D N Ramesh |
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Designation : |
Director |
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Address : |
# 2485, 25th Cross, 17th Main, BSK II Stage,
Bangalore – 560070, Karnataka, India |
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Date of Birth/Age : |
46 Years |
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Qualification : |
M. Sc. |
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Experience : |
20 Years |
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Name : |
Mr. Rakesh Shetty |
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Designation : |
Partner |
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Address : |
# 38, Saikrupa, Sector 16, Opposite, SBI Colony, Kodichikkanahalli, |
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Date of Birth/Age : |
35 Years |
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Qualification : |
BE |
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Experience : |
10 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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K |
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300 |
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D |
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200 |
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D |
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200 |
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Padmini |
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100 |
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Padmashree |
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100 |
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M L |
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100 |
BUSINESS DETAILS
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Line of Business : |
Distributors of Mydata-Pick and Place, Reprint-Screen Printer, VI Technology,
Automated optical Inspection, Glenbrook Technologies, X-ray inspection
system, Xuron-Cutters and pliers, JTEE, Rejlow and wave Soldering, Pace BGA
Rework station. |
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Products : |
Screen printer ‘REPRINT’ Screen printer is designed for medium
to high valume assembly. For accurate, consistent deposition of solder paste
or masking materials for SMT. This durable, easy to use system provides
repeatable and reliable results. Automatic Pick and Place Machine MYDATA is company completely dedicated to
the manufacture of automatic Pick and Place Machine. Reflow Oven Forced Convection Reflow ovens with 5 to 9
zones. The system is LEADEREE compatible. Wave soldering machine The EPS WSM Models are compact microprocessor
controlled wave soldering systems. The single or dual wave systems come
complete with conveyor, foam fluxer with integrated air compressor. Selective soldering “PILLAR HOUSE” machine comes with ultrasonic
/ spray fluxer and lead free compatibility. AOI AOI which can do 3D inspection of solder
paste, OCR, OCV and detect all kinds of process defects. The systems can be
placed after screen printer, pick and place, or end of line. The only AOI in
the market with closed loop capability. Pick and Place Machine Semi automatic pick and place machine for
prototyping and small to medium size production. X-Ray Inspection System The most popular X-ray System in the world,
Glenbrook systems are economical and highly efficient. Lead Free Rework Systems PACE proudly introduces the new line of
Sensa-Temp Soldering and Disordering systems that has been designed specially
for High End SMT and Thru Hole components rework, safely install and remove a
wide variety of CSPs, Fcs, PBGAs, MLFs, LCCs and other SMDs. Inspection System Technolab is a leader in Qualifying and Tesing solution. Provides complete range of inspection system for Area Array and Semiconductor application. Used for repair and assembly work, online inspection and image storage, can be used for BGA, Solder, Joint inspection, Cavity inspection etc. using endoscopic technology. |
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Agencies Held : |
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GENERAL INFORMATION
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Customers : |
v
Intel v
ABB v
Celetronix v
Bharat Electronics v
Pricol v
Smile Electronics Limited v
Aplab v
Rangsons Electronics v
Genus v
C-dot v
Skanda Electronics v
ADS v
AIE v
Peninbula Electronics v
SM Telesys v
Honeywell v
XO Infotech Limited v
Kaynes Technology v
HTL Limited v
Consolidated Dynamics Private Limited v
Selec |
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No. of Employees : |
22 [In Office : 6 ; In Factory : 11 and In Branch : 5] |
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Bankers : |
State bank of Baravanagudi Branch |
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Facilities : |
Credit Limit : Rs. 0.800 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G. S. Prakash Chartered Accountant |
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Address : |
29/2, 2nd Floor, Nanjappa Manrien, |
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Tel. No.: |
91-80-22225199 |
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Associates/Subsidiaries : |
Hynetic
Electronics Private Limited Address : No. 78/1, 3rd Cross, Gavipuram Extension, Tel: 91-80-41203991 / 26614627 /
22424577 / 26611016 / 22420852 / 26670470 Fax: 91-80-26624073 / 26614649 Line of Business : Dealers Anvin Associates Address : # 444, 11th main, Padmanabhanagar, Line of Business : Dealers, Projects and Consultancy |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.300 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1240 |
Equity Shares |
Rs. 100/- each |
Rs. 0.124
Million |
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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0.124 |
0.124 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.516 |
1.707 |
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4] Accumulated Loss |
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0.000 |
0.000 |
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NETWORTH |
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2.640 |
1.831 |
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LOAN FUNDS |
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1] Secured Loans |
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0.873 |
1.464 |
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2] Unsecured Loans |
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0.012 |
0.557 |
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TOTAL BORROWING |
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0.885 |
2.021 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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3.525 |
3.852 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.649 |
0.679 |
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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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0.088 |
0.085 |
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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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Sundry Debtors |
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1.125 |
0.477 |
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Cash & Bank Balances |
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1.454 |
1.630 |
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Loans & Advances |
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1.449 |
2.399 |
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Total
Current Assets |
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4.028 |
4.506 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.643 |
0.578 |
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Provisions |
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0.597 |
0.840 |
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Total
Current Liabilities |
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1.240 |
1.418 |
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Net Current Assets |
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2.788 |
3.088 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.525 |
3.852 |
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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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0.035 |
0.592 |
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Other Income |
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6.334 |
5.206 |
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Total Income |
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6.369 |
5.798 |
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Profit/(Loss) Before Tax |
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1.467 |
0.706 |
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Provision for Taxation |
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0.550 |
0.268 |
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Profit/(Loss) After Tax |
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0.810 |
0.391 |
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Earnings in Foreign Currency : |
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Total Earnings |
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3.724 |
1.606 |
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Imports : |
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Total Imports |
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0.027 |
0.487 |
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Expenditures : |
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Interest |
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0.136 |
0.154 |
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Other Expenditure |
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1.992 |
1.449 |
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Total Expenditure |
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2.128 |
1.603 |
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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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12.72 |
6.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4191.43 |
66.05 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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31.37 |
13.62 |
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Return on Investment (ROI) (PBT/Networth) |
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0.56 |
0.39 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.80 |
1.88 |
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Current Ratio (Current Asset/Current Liability) |
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3.25 |
3.18 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Nandi
Powertronics
- Bharat
Electronics, Radar Division,
AS PER WEBSITE
Subject has a team of experienced Engineers who have over 15 Years Experience in the field of PCB assembly. It starts with suggesting the right kind of equipment and giving total solutions. They also cater to companies in providing Digital Projector System Display solution, Customized Test Systems, Static / Dynamic Simulator solution.
SERVICE SUPPORT
The major strength of Accurex is their service support. They
have an excellent team built over the long years to take care of the after
sales service. They have dedicated and trained engineers to support their
customers. They have a 24x7 Telephonic Support to their customers. Many
Japanese companies hire their services for the installation of equipments and
maintenance for their joint ventures in
SPARE PARTS
Accurex stocks major spare parts for the different machineries. This has helped us in responding to many customers in difficult times within the shortest time. The stock of the spares is done according to the Government of India policy.
ATE Solution
Accurex provides complete engineering services which ensure that entire system hardware and software is able to perform all testing functions required by customer specifications and test requirements documents.
Their team has the breadth and depth of experience necessary to evaluate the test requirements and develop efficient test strategies. They have experience in revamping / upgradation of existing test system.
Simulation Solution
They provide total solution with 3-D Perception Norway for the simulation industry with projectors and projection related equipment. The products used world wide for application such as Fixed Wing Simulators, Air Defence Simulators, Immersive VR, Entertainment etc.
They also have expertise in revamping of maintenance simulators.
Success Story
Accurex group developed the Following Test Station for testing the Fly Catcher Radar Upgraded version and BFSR test jigs.
» Display Test Station -for testing A-scope & TV Monitor units.
» PDU /PPI Station -For testing plan position indicator unit ,PPI controller.
» 3 CM station-for testing X-band transmitter,Receiver, High tension, LO+AFC
units.
» 8MM station -for Ka-band transceiver,LTPS2,Fault indication units
» Analog test station to test all the PCB's
» SMR-MU test station. - for testing the MU, GDR, LTPS 2 etc
» Camera test station - for calibration of cameras.
» RIAT-ATU Test Box for ATU.
» RCP,SP,Comm, RFMaster test jigs-for testing BFSR-SR cards.
» BSFR-SR -ATE functional testing of BSFR SR Radar.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.55 |
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1 |
Rs.80.08 |
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Euro |
1 |
Rs.54.58 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
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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54 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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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