MIRA
INFORM REPORT
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Report Date : |
14.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
NEST POWER ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
19/ 506, Stone House, Market Road, Aluva, Ernakulam – 683 101, Kerala |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.01.2000 |
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Com. Reg. No.: |
09 -13605 |
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CIN No.: [Company
Identification No.] |
U31200KL2000PTC013605 |
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IEC No.: |
3999000139 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHNN00700A |
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PAN No.: [Permanent
Account No.] |
AABCN1303K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Convertors, Adaptors, Electronic Power Supply
Assemblies. |
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 417000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
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. Nothing adverse reported. |
LOCATIONS
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Registered/
Corporate Office : |
19/ 506, Stone House, Market Road, Aluva, Ernakulam – 683 101, Kerala,
India |
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Tel. No.: |
91-484-2413246/ 2413202 |
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Fax No.: |
91-484-2413053/ 2413208 |
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E-Mail : |
kpcs@nestcorp.net , pkrkris@nestcorp.net , k.padmanabhan@nestgroup.net |
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Website : |
DIRECTORS
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Name : |
Mr. N Jehangir Nagoor Rawther |
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Designation : |
Managing Director |
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Address : |
125 Mackar Manzil, Thynothi Lane , Aluva, Ernakulam – 683 101, Kerala,
India |
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Date of Birth/Age : |
01.12.1955 |
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Date of Appointment : |
19.01.2000 |
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Other Directorships : |
* Crysind
Electronics Private Limited * Sun Precision
Works Private Limited * Sun Generic
Cables Private Limited * Network Systems
and Technologies Private Limited * J2 Optronics
Private Limited * Nest Systems
Private Limited * SFO Technologies
Private Limited * Nest Magnetics
Private Limited * Saba Powerdex
Private Limited * Nest Information
Technologies Private Limited * Photon Data
Links Private Limited * Swiftlink Fibre
Optics Private Limited * Nest Photonics
Private limited * Nest
Technologies Enabled Services Private Limited * Nest Avionics
Private Limited |
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Name : |
Mr. S Sankaran |
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Designation : |
Director |
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Address : |
27/ 221, Adithya, Karimpurath Road, Desabhimani Road, Giri Nagar,
Kochi, Ernakulam – 682 020, Kerala, India |
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Date of Birth/Age : |
15.05.1946 |
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Date of Appointment : |
19.01.2000 |
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Date of Ceasing : |
20.04.2005 |
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Name : |
Mr. S Jayakrishnan |
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Designation : |
Director |
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Address : |
Deveepadam, 2nd Floor, Mayura Apartments, Desabhimani Road,
Kochi, Ernakulam – 682 026, Kerala, India |
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Date of Birth/Age : |
28.05.1958 |
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Date of Appointment : |
01.09.2000 |
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Date of Ceasing : |
20.04.2005 |
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Name : |
Mr. Shafi Muhamad Ulooji |
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Designation : |
Director |
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Address : |
30/ 1419A, Dreams, Ponnurunni Vyttila, Kochi, Ernakulam – 682 019,
Kerala, India |
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Date of Birth/Age : |
04.11.1951 |
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Date of Appointment : |
30.06.2004 |
KEY EXECUTIVES
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Name : |
K Padmanabhan and Company |
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Designation : |
Company Secretary |
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Address : |
HIG 37, Krishna, Panampilly Nagar, Kochi, Ernakulam – 682 036, Kerala,
India |
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Tel. No.: |
91-484-3098210/ 3950711 |
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Mobile No.: |
91-9447498476 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. N Jehangir |
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19990 |
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Mr. S Sankaran |
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10 |
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Kasafi Holdings Private Limited |
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80000 |
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Names of Shareholders |
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Percentage of
Holding |
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Bodies Corporate |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Convertors, Adaptors, Electronic Power Supply
Assemblies. |
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Products : |
* Converters * Adaptors * Electronic Power
Supply Assemblies |
GENERAL
INFORMATION
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No. of Employees : |
Around 4000 |
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Bankers : |
* Citi Bank * State Bank of
Travancore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Iyer Thomas and Sunney Chartered Accountants |
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Address : |
Layam Road, Ernakulam, Cochin
– 682 011, Kerala, India |
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Holding Company : |
* SFO Technologies
Private Limited |
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Group Companies : |
* Crysind
Electronics Private Limited * Sun Precision
Works Private Limited * Sun Generic Cables
Private Limited * Network Systems
and Technologies Private Limited * J2 Optronics
Private Limited * Nest Systems
Private Limited * SFO Technologies
Private Limited * Nest Magnetics
Private Limited * Saba Powerdex
Private Limited * Nest Information
Technologies Private Limited * Photon Data
Links Private Limited * Swiftlink Fibre
Optics Private Limited * Nest Photonics
Private limited * Nest
Technologies Enabled Services Private Limited * Nest Avionics
Private Limited * N J Business
Corporation * N J Enterprises |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000
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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10.000 |
10.000 |
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2] Reserves & Surplus |
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94.225 |
27.516 |
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NETWORTH |
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104.225 |
37.516 |
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LOAN FUNDS |
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1] Secured Loans |
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26.071 |
30.350 |
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2] Unsecured Loans |
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61.455 |
61.468 |
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TOTAL BORROWING |
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87.526 |
91.818 |
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DEFERRED TAX LIABILITIES |
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10.702 |
0.000 |
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TOTAL |
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202.453 |
129.334 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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53.041 |
56.649 |
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Capital work-in-progress |
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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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49.464 |
54.841 |
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Sundry Debtors |
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137.314 |
29.518 |
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Cash & Bank Balances |
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0.348 |
0.202 |
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Other Current Assets |
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0.765 |
0.621 |
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Loans & Advances |
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2.614 |
2.800 |
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Total
Current Assets |
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190.505 |
87.982 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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26.903 |
17.854 |
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Provisions |
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18.205 |
2.261 |
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Total
Current Liabilities |
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45.108 |
20.115 |
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Net Current Assets |
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145.397 |
67.867 |
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MISCELLANEOUS EXPENSES |
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4.015 |
4.818 |
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TOTAL |
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202.453 |
129.334 |
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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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271.623 |
290.240 |
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Other Income |
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0.017 |
5.370 |
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Total Income |
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271.640 |
295.610 |
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Profit/(Loss) Before Tax |
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93.707 |
41.128 |
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Provision for Taxation |
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16.621 |
0.692 |
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Profit/(Loss) After Tax |
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77.086 |
40.436 |
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Earnings in Foreign Currency : |
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Export Earnings |
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132.022 |
277.466 |
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Total Earnings |
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132.022 |
277.466 |
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Imports : |
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Raw Materials |
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110.283 |
186.174 |
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Capital Goods |
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0.206 |
1.140 |
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Total Imports |
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110.489 |
187.314 |
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Total Expenditure |
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170.564 |
245.871 |
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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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28.38 |
13.68 |
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Net Profit Margin (PBT/Sales) |
(%) |
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34.49 |
14.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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38.47 |
28.43 |
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Return on Investment (ROI) (PBT/Networth) |
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0.89 |
1.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.37 |
3.98 |
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Current Ratio (Current Asset/Current Liability) |
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4.22 |
4.37 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web:
Group Profile
SFO Technologies, a NeST Group
Company is an International Corporate group, of over 25 companies employing
more than 3500 people worldwide, has a global export business turnover in
excess of $ 200 million. The Group has a strong presence in futuristic Computer
& Communication technology areas like Networking, Fiber Optics, RF &
Microwave and Software. SFO Technologies has many hardware and software
facilities spread across Trivandrum, Cochin, Bangalore and Mysore in India and
in the USA.
All
of these units are ISO 9001 certified and the Group now aspires to reach Six
Sigma status in quality. The software units of the group operating at
Trivandrum and Cochin are assessed at CMMi Level 5. Apart from the software
development facility in India, the Group has setup a number of world class
manufacturing facilities and has established worldwide operations with offices
which provides onsite consulting and development services in USA, Canada,
Australia, Japan, UK and Qatar.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.39.35 |
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UK Pound |
1 |
Rs.80.52 |
|
Euro |
1 |
Rs.57.56 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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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 |
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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. |
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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