MIRA
INFORM REPORT
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Report Date : |
01.10.2007 |
IDENTIFICATION DETAILS
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Name : |
LOOKMAN ELECTROPLAST INDUSTRIES LIMITED |
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Registered Office : |
Old No. 8 and 9, New No. 15, 2nd Street Extension, 3rd
Main Road Cit Nagar, Nandanam, Chennai – 600 035, Tamil Nadu |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.05.1992 |
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Com. Reg. No.: |
22758 |
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CIN No.: [Company
Identification No.] |
U30007TN1992PLC022758 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEL00346D |
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PAN No.: [Permanent
Account No.] |
AAACL1033H |
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Legal Form : |
A Closely held Public Limited
Liability Company |
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Line of Business : |
Manufacturer of Security Electronics Products. |
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 70732 |
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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 experience 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 : |
Old No. 8 and 9, New No. 15, 2nd Street Extension, 3rd
Main Road Cit Nagar, Nandanam, Chennai – 600 035, Tamil Nadu, India |
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Tel No: |
91-44-243121 32 / 33 /34 /35 /36 |
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91-44-24312138 (MD) 91-44-24344255 (GM) |
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E-Mail : |
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Website : |
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Corporate Office : |
9, Sriram Nagar Colony, Adyar, Chennai – 600020, Tamil |
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Tel. No.: |
91-44-2354786 / 22354030 |
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Fax No.: |
91-44-22354039 |
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E-Mail : |
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Website: |
DIRECTORS
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Name : |
Mr. Saifuddin Bharmal |
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Designation : |
Managing Director |
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Address : |
No.12, |
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Date of Birth/Age : |
03.02.1956 |
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Date of Appointment : |
27.05.1992 |
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Name : |
Mr. Fakhruddin Bharmal |
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Designation : |
Director |
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Address : |
No.14, |
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Date of Birth/Age : |
09.02.1964 |
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Date of Appointment : |
27.05.1992 |
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Name : |
Mrs. Nishrin S Bharmal |
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Designation : |
Director |
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Address : |
No.12, Seethamma Colony, 3rd |
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Date of Birth/Age : |
10.12.1966 |
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Date of Appointment : |
27.05.1992 |
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Name : |
Mrs. Munira F Bharmal |
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Designation : |
Director |
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Address : |
No.14, |
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Date of Birth/Age : |
18.06.1971 |
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Date of Appointment : |
27.05.1992 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Saifuddin Bharmal |
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56100 |
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Mrs. Nishrin Bharmal |
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19100 |
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Mr. Amar Bharmal |
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5000 |
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Mr. Shabbir Bharmal |
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5000 |
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Mr. Shabbir Saifuddin Gari |
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5745 |
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Mr. Amthullah L Bharmal |
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6500 |
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Mr. Khatun Bharmal |
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7850 |
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Mr. Kaizer H Shyamwala |
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5800 |
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Mrs. Sakina Shyamwala |
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5820 |
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Mr. Nazeem S Gari |
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5405 |
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Mrs. Munira Masu Bharmal |
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3300 |
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Mr. Khadiza S Gari |
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6590 |
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Mr. Shabbir Lokhandwala |
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6400 |
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Mr. Masud Bharmal |
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8000 |
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Mr. Fakhiruddin Bharmal |
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4890 |
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Mrs Nasimbeen S Tarwadi |
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8500 |
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Mrs. Munira F Bharmal |
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21300 |
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Mr. Ali Asgar F Bharmal |
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18700 |
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Total |
200000 |
Equity Share Break – up (Percentage of Total Equity)
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products : |
CCTV Complimentary |
GENERAL INFORMATION
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Bankers : |
· The South Indian Bank Limited Address: T Nagar
Branch, E Mail: abc1224@gmail.com |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. B Srinivasan Chartered Accountants |
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Address : |
No.3 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity shares |
Rs. 100/-
each |
Rs. 2.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.000 |
2.000 |
2.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
15.683 |
15.413 |
15.061 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.683 |
17.413 |
17.061 |
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LOAN FUNDS |
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1] Secured Loans |
2.154 |
6.058 |
0.065 |
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2] Unsecured Loans |
21.960 |
11.488 |
1.659 |
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TOTAL BORROWING |
24.114 |
17.546 |
1.724 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
41.797 |
34.959 |
18.785 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
30.912 |
28.933 |
7.716 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.632
|
2.456 |
1.245 |
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Sundry Debtors |
9.028
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4.584 |
15.678 |
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Cash & Bank Balances |
0.403
|
0.121 |
0.073 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.532
|
8.633 |
9.960 |
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Total
Current Assets |
17.595
|
15.794 |
26.956 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.470
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6.929 |
15.887 |
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Provisions |
2.240
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2.839 |
0.000 |
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Total
Current Liabilities |
6.710
|
9.768 |
15.887 |
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Net Current Assets |
10.885
|
6.026 |
11.069 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
41.797 |
34.959 |
18.785 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
28.994 |
20.209 |
58.610 |
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Stock sent to branches |
0.000 |
0.000 |
15.699 |
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Other Income |
6.303 |
2.984 |
9.898 |
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Total Income |
35.297 |
23.193 |
84.207 |
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Profit/(Loss) Before Tax |
3.791 |
2.243 |
3.793 |
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Provision for Taxation |
0.000 |
0.000 |
1.301 |
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Profit/(Loss) After Tax |
3.791 |
2.243 |
2.492 |
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Expenditures : |
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Raw Material Consumed |
14.997 |
5.822 |
50.535 |
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Consumption of stores and spares parts |
0.204 |
0.031 |
0.000 |
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Salaries, Wages, Bonus, etc. |
1.952 |
2.762 |
0.000 |
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Managerial Remuneration |
1.670 |
1.530 |
0.000 |
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Payment to Auditors |
0.062 |
0.044 |
0.000 |
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Interest |
0.716 |
0.029 |
0.000 |
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Insurance Expenses |
0.064 |
0.052 |
0.000 |
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Power & Fuel |
0.349 |
0.345 |
0.000 |
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Depreciation & Amortization |
0.551 |
0.673 |
0.000 |
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Direct Cost |
0.000 |
0.000 |
12.764 |
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Staff cost |
0.000 |
0.000 |
5.874 |
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Administrative Expenses |
0.000 |
0.000 |
7.576 |
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Selling’s and Distribution |
0.000 |
0.000 |
2.591 |
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Finance Charge |
0.000 |
0.000 |
0.420 |
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Other Expenditure |
10.941 |
9.662 |
0.000 |
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Total Expenditure |
31.506 |
20.950 |
79.760 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
10.74
|
9.67 |
2.95 |
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Net Profit Margin (PBT/Sales) |
(%) |
13.07
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11.09 |
6.47 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.81
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5.01 |
10.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21
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0.12 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.74
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1.56 |
1.03 |
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Current Ratio (Current Asset/Current Liability) |
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2.62
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1.61 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U30007TN1992PLC022758 |
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Name of the company |
LOOKMAN ELECTROPLAST INDUSTRIES LIMITED |
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Address |
Old No. 8 and 9, New No. 15, 2nd
Street Extension, 3rd Main Road Cit Nagar, Nandanam, Chennai – 600
035, Tamil Nadu, India |
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This Form is for |
Modification of Charge |
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Type of Charges |
· Immovable property · Book Debts · Movable Property · Floating Charge |
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Particular of the charge holder
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The South Indian Bank Limited Address: T Nagar Branch, E Mail: abc1224@gmail.com
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Nature or description of the instrument creating charge |
· Agreement of Hypothecation · Confirmation letter for extension of equitable mortgage. |
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Date of the instrument creating charge |
27.06.2007 |
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Amount Secure by the charge |
Rs. 22.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of Interest: @BPLR – Presently 14.5% p.a. Term of Repayments: Repayable on Demand Margin: CCOL Limit : 25% BG :15% LC :15% Extent
and operation of the charge: As per instrumental executed on 27.06.2007
and as mentioned in column No. 14 of this form 8 Others:
All
other terms and conditions as per the sanction letter and instrument executed
on 27.06.2007 |
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Name of the
company |
M/s. LOOKMAN ELECTROPLAST INDUSTRIES
LIMITED |
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Presented
By |
The Manger, The South
Indian Bank Limited, T. Nagar Branch,
T Nagar, Chennai – 600 017, Tamil Nadu, |
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1) Date and
description of instrument creating the change |
15.09.2000
Agreement of Hypothecation of goods |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 7.000
millions |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
First charge on
all tangible property such and stock in trade and goods of the borrowers
which is now or hereafter from time to time during this security shall be
brought in stored or be in or about the premises or Godown of the borrowers
at No. 9, Sriram Nagar Colony, Near IIT Adyar, Chennai or anywhere else
comprising all sorts of CCTV Security Systems. Alarm Systems etc, both
Present and Future. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 18% per annum or such other rate as may be prescribed by
the banker from time to time Other terms and conditions are as per the agreement executed on
15.09.2000 |
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5) Name and
Address and description of the person entitled to the charge. |
The South Indian Bank Limited Address: T Nagar Branch, |
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6) Date and brief description of instrument
modifying the charge |
20.01.2005 Agreement of
Hypothecation |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Modification is
consequent to the enhancement in credit facility from Rs. 26.000 millions to Rs.
34.500 millions as detailed below:
The charge is
also secured by the entire fixed assets of the Company both present and
future Other terms and
conditions are as per the agreement executed on 20.01.2005 |
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Fixed assets:
· Buildings – Adyar
· Buildings – Mumbai
· Buildings – CIT Nagar
- Work in Progress
· Plant and Machinery
· Furniture and fittings
· Computers
· Vehicles
WEBSITE DETAILS:
Lookman Electroplast Industries Limited, since its
inception in late seventies, has sailed through many challenges on its road to
success. Today Lookman is proud to have an impressive track record for more
than two decades as a pioneer in the CCTV Security and Surveillance industry in
Based at Chennai and having functioning units in Mumbai and
With intelligent tie ups with the technical giants like Sanyo, Samsung, Bewator,
Hanse, Hi Sharp, Lilin, Sony and many more, Lookman has earned a niche for its
products and services in the CCTV industry.
Making full use of the technical expertise developed and win-win
associations with the technological leaders across the globe, Lookman has also
taken up and installed many projects on turn-key basis at important and Vital
institutions of Government, Public Sector and Private Sector.
Lookman has now spread the wings to other related areas like LAN / WAN
Networking, Smart Cards and Access Control Systems and Video Door Phones. They
have partnered with Bewator of UK, Kocom of Korea and FALCO of Singapore to
bring in the state-of-the art products in these areas.
TURNKEY PROJECTS
With the expertise developed over the years, Lookman has successfully
ventured in to providing complete solutions to CCTV surveillance system
applications required in any segment today.....
Starting from conceptualization and going up to complete installation as
well as Training and Maintenance, they can be the trusted partner in CCTV
systems.
Their turnkey installations with hundreds of multi type cameras,
monitors, switchers, multiplexers and DVRs are providing fool proof and error
free surveillance in many prestigious customers in
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Brands |
Products |
Other information:
WESTERN &
Our Area Manager
Email :
areamanager@lookman.in
·
Our Residence Technician
·
CENTRAL
REGION
Our Residence Technician
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.39.73 |
|
|
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.56.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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 |
|