MIRA
INFORM REPORT
|
Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
|
Name : |
RMS
TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
No.
13, 11th Main, 5th Block Jayanagara, Bangalore –
560041, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
05.02.2001 |
|
|
|
|
Com. Reg. No.: |
08-28564 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72900KA2001PTC028564 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRR01354D |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers
Wire Harness, Cable Accessories, Knitted Socks, Wrist Bands, Computer Hard-wares
and Peripherals and Optical Storage Disks. Sales, Maintenance and Services of
all above. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
10000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Usually
correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well-established company having satisfactory track records. Trade relations are fair. Payments are usually correct and as per
commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
No.
13, 11th Main, 5th Block Jayanagara, Bangalore –
560041, Karnataka, India |
|
Tel. No.: |
91-80-41211645/ 646/
647, 28411504 |
|
Mobile : |
91-9845738501 /
9845736225 |
|
Fax No.: |
91-80-22456164 |
|
Email : |
|
|
Website : |
http://www.rmstech.tradeindia.com http://www.rmsindia.net |
|
Area : |
2000
sq. ft. |
|
Location : |
Rented
|
|
|
|
|
Branch
1: |
# 1031/14, 1st Floor,
39th 'E' Cross, 26th Main, 4th 'T' Block, (Opposite Bunny Bakers, 9th Block, Jayanagar,Bangalore
- 560041, Karnataka, India |
|
Tel.
No.: |
91-80-41211645/ 646/
647, 28411504 |
|
Fax
No.: |
91-80-22456164 |
|
Area : |
1500 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branch
2: |
101, Greenland Apartments,
Building No. 5, J B Nagar, Andheri (East), Mumbai, Maharashtra, India |
|
Area : |
700 sq. ft. |
|
Location : |
Rented |
DIRECTORS
|
Name : |
Mr. T.
R. Raghunath |
|
Designation : |
Director
|
|
Address : |
No.
72, 2nd Main, 4th Cross, Kanakalaout, Padmanabhanagara,
Bangalore – 560070, Karnataka, India |
|
Date of Birth/Age : |
08.06.1967 |
|
Date of Appointment : |
05.02.2001 |
|
|
|
|
Name : |
Mr. N.
S. Shivaswamy |
|
Designation : |
Director
|
|
Address : |
No.
549, 2nd Main, 2nd Mudalapalya, Bangalore – 560072,
Karnataka |
|
Date of Birth/Age : |
22.06.1967 |
|
Date of Appointment : |
05.02.2001 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr. T.
R. Raghunath |
|
50 |
|
Mr. N.
S. Shivaswamy |
|
50 |
|
Harshana
Info Technologies Private Limited |
|
750 |
|
Mr. N.
S. Kumar |
|
100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
Wire Harness, Cable Accessories, Knitted Socks, Wrist Bands, Computer Hard-wares
and Peripherals and Optical Storage Disks. Sales, Maintenance and Services of
all above. |
|
|
|
|
Products : |
*
Wire
Harness *
Cable
Accessories *
Knitted
Socks *
Wrist
Bands *
Computer
Hard-wares and Peripherals *
Optical
Storage Disks |
|
|
|
|
Imports
: |
|
|
Products : |
Machinery
and Components |
|
Countries : |
Korea,
UK, South – East Asia, USA |
|
|
|
|
Terms
: |
|
|
Selling : |
Cash
and Credit upto 30-45 days basis |
|
|
|
|
Purchasing : |
T/T,
L/C, Cash and Credit upto 30-45 days basis |
GENERAL
INFORMATION
|
Customers : |
*
End
Users *
OEM’s
|
|
|
|
|
No. of Employees : |
About
80 |
|
|
|
|
Bankers : |
Karnataka Bank Limited, City Market
Branch, Karnataka, India |
|
|
|
|
Facilities : |
Overdraft Limit: Rs. 5.000 millions |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors
: |
|
|
Name : |
Gopinath
and Company Chartered
Accountants |
|
Address : |
Bangalore,
Karnataka, India |
|
Mobile No.: |
91-9902001515 |
|
|
|
|
Sister Concerns : |
RMS Electronics # 1031/14, 1st Floor,
39th 'E' Cross, 26th Main, 4th 'T' Block, (Opposite Bunny Bakers, 9th Block,
Jayanagar,Bangalore - 560041, Karnataka, India -- Line of Business:
Sales of Computers, peripherals, Office Automation and UPS
|
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000 |
Equity
Shares |
Rs. 1000/- each |
Rs. 1.000 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
950 |
Equity
Shares |
Rs. 1000/- each |
Rs. 0.950 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales
Turnover (Approx) |
|
|
75.000 |
Expected
Sales (2007-08) : Rs. 100.000 millions
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.950 |
0.950 |
0.950 |
|
|
2] Share Application Money |
2.413 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
1.439 |
0.788 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.363 |
2.389 |
1.738 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.975 |
1.595 |
2.020 |
|
|
2] Unsecured Loans |
5.847 |
4.205 |
6.117 |
|
|
TOTAL BORROWING |
13.822 |
5.801 |
8.137 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17.185 |
8.190 |
9.875 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.546 |
3.318 |
2.741 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.241 |
0.703 |
|
|
Sundry Debtors |
|
10.162 |
10.999 |
|
|
Cash & Bank Balances |
17.031
|
0.588 |
0.197 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.816 |
1.425 |
|
Total Current Assets |
17.031
|
12.807 |
13.324 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
5.427
|
6.697 |
5.447 |
|
|
Provisions |
0.000
|
1.273 |
0.778 |
|
Total Current Liabilities |
5.427
|
7.970 |
6.225 |
|
|
Net Current Assets |
11.604
|
4.837 |
7.099 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.035 |
0.035 |
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
17.185 |
8.190 |
9.875 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other
income] |
34.331 |
43.035 |
34.177 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.728 |
0.860 |
0.504 |
|
Provision for Taxation |
0.284 |
0.000 |
0.000 |
|
Profit/(Loss) After Tax |
0.444 |
0.860 |
0.504 |
|
|
|
|
|
|
Total
Expenditure |
57.512 |
42.175 |
33.573 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
1.29
|
1.99 |
1.47 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
2.12
|
1.99 |
1.47 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
3.22
|
5.33 |
3.13 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.35 |
0.28 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
6.72
|
5.76 |
8.26 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
3.14
|
1.60 |
2.14 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of
charges
|
Corporation identity number or foreign company registrations number of the company |
U72900KA2001PTC028564 |
|
Name of the company |
RMS TECHNOLOGIES PRIVATE LIMITED |
|
Address |
No. 13, 11th Main, 5th
Block Jayanagara, Bangalore – 560041, Karnataka, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Karnataka State Financial Corporation Jayanagar Branch Office, 8th Floor, Jayanagara Shopping Complex, 4th Block, Jayanagar, Bangalore – 560011, Karnataka E-mail : bojnagar@ksfc.net |
|
Nature or description of the instrument creating charge |
Registered Hypothecation Deed |
|
Date of the instrument creating charge |
28.06.2006 |
|
Amount Secure by the charge |
Rs. 1.850 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
A] KSFC has sanctioned a term loan Rs. 1.850 millions @ 10.5% per annum B] Upfront fee of 0.5% on the amount sanctioned shall be payable to KSFC C] Repayment to be made in 66 equal monthly instalments of Rs. 0.037 million which shall commence from the 7th month from the date of first disbursement of the loan |
|
Description of the property charge whether it is a charge on |
Plant and machinery |
WEBSITE DETAILS
Profile
Subject is a growing manufacturer and
exporter of wire harness, cable
accessories, knitted socks, wrist bands, computer hardwares & peripherals
and optical storage disks. They also have an authorised service center
for Sony, LG, Benq, etc.
The company was started as a small organization in 1990 by two young
engineering graduates, who had a natural flair for electronics. Today, we have
more than 200 employees with wide range of activities in 15 branches across
India.
Infrastucture
To keep ourself ahead in the stiff competitive market we have employed the best
of men and machinery. They are known to have the fastest response time to
customer needs.
Core Activities
- Wire harness/cable
accessories manufacturing
- Mechanical assemblies of
medical and industrial electronics.
- Knitted socks (both sports
and dress varieties) and wrist bands manufacturing with high speed
computerized knitting machines.
- Total computer hardware
solutions (both sales and service)
- Component level repair of
devices like monitors, power supplies, motherboard, optical disk drives
and other storage devices, key board, mouse and other user interface
products.
- Authorized service center
for Sony, LG, Benq, etc.
Other Avenues
By acquiring a small company called Prayog Automation and Control Electronics, we
ventured into design and development of embedded electronic products, like:
- High frequency watt meters
- Modbus - DPM
- Vibration analyser
- Reverse engineering products
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.39.40 |
|
UK
Pound |
1 |
Rs.81.12 |
|
Euro |
1 |
Rs.56.69 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|