MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CCL OPTO ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
B-23, Todi Industrial Estate, New Sun Mills Compound, Lower Parel,
Mumbai – 400 013, |
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Country : |
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Financials (as on) : |
31.03.2002 |
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Date of Incorporation : |
30.06.2000 |
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Com. Reg. No.: |
11-127515 |
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CIN No.: [Company
Identification No.] |
U33200MH2000PTC127515 |
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IEC No.: |
0300044631 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC13650A |
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PAN No.: [Permanent
Account No.] |
AABCC4411H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Fiber Optic Components, SVB – Systems. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1768 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade relations
are reported as fair. Business is active. Payments are however reported as
slow but correct. The company can be considered for small business dealings at usual
trade terms and conditions. Last available financials of the company with the government
department are as of 31.03.2002 and the management remained non –
co-operative. |
LOCATIONS
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Registered Office : |
B-23, Todi Industrial Estate, 2nd Floor, New Sun Mills
Compound, Lower Parel, Mumbai – 400 013, Maharashtra |
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Tel No: |
91-22-7611354 |
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Corporate
Office: |
Chembond Centre, EL-71, Electronics Zone, MIDC Mahape, Navi Mumbai –
400 705, |
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Tel. No.: |
91-22-7611354 / 7618799 |
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Fax No.: |
91-22-27681294 |
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E-Mail : |
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Website : |
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Factory : |
EL- 90, Electronics Zone, MIDC Mahape, Navi Mumbai – 400 710 |
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Area : |
2500 sq.fts |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Sameer V Shah |
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Designation : |
Director |
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Address : |
A-101, Jagat Vidya, Kala Nagar, Bandra-Kurla Complex Road, Bandra
(west), Mumbai- 410 051, Maharashtra |
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Date of Birth/Age : |
16.02.1960 |
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Date of Appointment : |
30.06.2000 |
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Name : |
Mr. Yeshwant P Rao |
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Designation : |
Director |
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Address : |
401-A, Yallawa Smruti, |
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Date of Birth/Age : |
15.04.1968 |
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Qualification : |
B.E, M.M.M. |
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Experience : |
16 Years |
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Date of Appointment : |
18.06.2000 |
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Name : |
Mr. Ashwin R Nagarwadia |
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Designation : |
Director |
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Address : |
4-Bharti Niwas Society, |
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Date of Birth/Age : |
20.09.1937 |
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Date of Appointment : |
14.02.2001 |
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Name : |
Mr. Vinod D Shah |
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Designation : |
Director |
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Name : |
Mr. Raghunath K Shegaonkar |
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Designation : |
Director |
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Address : |
Department of Electrical, 11th Powai, Mumbai – 400 076,
Maharashta |
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Date of Birth/Age : |
11.05.1954 |
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Date of Appointment : |
28.15.2001 |
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Name : |
Mr. Vinod Dahyalal Shah |
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Designation : |
Director |
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Address : |
7, Sanjukta S.V. road, Bandra, Mumbai- 400 050, |
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Date of Birth/Age : |
23.04.1932 |
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Date of Appointment : |
14.02.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Ms. Kumud Nagarwadia |
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25000 |
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Ms. Malika Shah |
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3500 |
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Ms. Amrita Shah |
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3500 |
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Mr. Ronak Shah |
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2500 |
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Mr. Yeshwant P Rao |
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1000 |
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Mr. Sameer V Shah |
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27990 |
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Mr. Ashwin R Nagarwadia |
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25000 |
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Total |
88490 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fiber Optic Components, SVB – Systems |
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Products : |
·
G Semiconductor ·
Corning ·
New Pore Industrial Glass |
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GENERAL INFORMATION
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Suppliers : |
Chembond Chemicals Limited |
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Customers : |
End Users |
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Bankers : |
·
Bank of
Address: Worli Branch ·
HDFC Bank Limited |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kastury and Talati Chartered Accountants |
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Address : |
Mumbai – 400 002, |
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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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1000000 |
Equity Shares |
Rs.1/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.1/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.002 |
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2] Share Application Money |
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0.000 |
1.015 |
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3] Reserves & Surplus |
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0.881 |
0.000 |
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4] (Accumulated Losses) |
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[0.539] |
0.000 |
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NETWORTH |
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0.442 |
1.017 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.273 |
0.008 |
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TOTAL BORROWING |
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0.273 |
0.008 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.715 |
1.025 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.010 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.383 |
0.150 |
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Closing Stock |
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0.033 |
0.045 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.017 |
0.461 |
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Total
Current Assets |
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0.433 |
0.656 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.068 |
0.009 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.068 |
0.009 |
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Net Current Assets |
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0.365 |
0.647 |
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MISCELLANEOUS EXPENSES |
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0.340 |
0.378 |
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TOTAL |
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0.715 |
1.025 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2002 |
31.03.2001 |
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Sales Turnover |
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0.407 |
0.000 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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0.407 |
0.000 |
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Profit/(Loss) Before Tax |
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[0.539] |
0.000 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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[0.539] |
0.000 |
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FOB Value of Exports |
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0.357 |
0.000 |
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CIF Value of Imports |
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Raw Materials |
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0.347 |
0.043 |
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Expenditures : |
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Interest |
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0.000 |
0.000 |
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Depreciation & Amortization |
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0.000 |
0.000 |
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Total Expenditure |
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0.946 |
0.000 |
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KEY RATIOS
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PARTICULARS |
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31.03.2002 |
31.03.2001 |
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PAT / Total Income |
(%) |
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[132.43] |
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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[132.43] |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[121.67] |
0.00 |
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Return on Investment (ROI) (PBT/Networth) |
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[1.21] |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.77 |
0.01 |
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Current Ratio (Current Asset/Current Liability) |
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6.36 |
72.88 |
LOCAL AGENCY FURTHER INFORMATION
DIRECTORS REPORT:
The Company has incurred a loss during the year Rs. 0.539 million
(previous year Nil).
In view of the Company making a loss. No dividend has been recommended
on the equity shares.
Fixed assets:
- Property:-
Office Equipments
WEBSITE DETAILS:
CCL Optoelectronics was formed in early 2000 with the objective of manufacturing components and systems used in fiber optic telecommunication networks.
Optical systems are at the center of the networking equipment that telecom
companies buy to build data networks that carry voice, video, data, and Net
traffic around the globe.
In the
Sameer Shah, Managing Director
Sameer is a co-founder of CCL Optoelectronics. Sameer has
over fifteen years of experience in American and Indian industry and is a
director on the boards of Henkel Chembond Surface Technologies Limited. and
Chembond Chemicals Limited. (listed on the BSE). Sameer is responsible for
establishing the operations of Henkel Chembond in
Yeshwant Rao, Director and Chief Operations Officer
Yeshwant is a co-founder of CCL Optoelectronics. Yeshwant
has more than ten years of industrial experience in the fields of consulting,
marketing, and international trade. In his capacities in earlier companies
Yeshwant has successfully launched and introduced products from overseas
companies in the competitive Indian market. Yeshwant is a chemical engineer
with an MBA in Marketing from the
Rashmi Gavli, Finance Controller
Rashmi has been involved with CCL Optoelectronics since its early days of inception. Rashmi is a Chartered Accountant with several years of experience in corporate finance and accounting. She has been responsible for credit finance arrangements and management of Henkel Chembond where she successfully worked with foreign banks.
BOARD OF DIRECTORS
Dr. Vinod Shah, Chairman
Dr. Shah is the Chairman and Managing Director of Chembond
Chemicals Limited. a company he founded in 1973 and took public (listed on the
Bombay Stock Exchange) in 1995. He has worked in
Ashwin Nagarwadia - Director
Mr. Nagarwadia was most recently Chairman and Managing
Director of Ingersoll Rand India Limited. During his tenure at Ingersoll Rand,
Mr. Nagarwadia worked in key positions in
.
Dr. Raghunath Shevgaonkar - Director
Dr. Shevgaonkar is Professor of Electrical Engineering and
Head of the Fiber Optic Lab at IIT Bombay. Raghunath has designed DWDM systems
and completed several assignments for the electronics and fiber optics
industry. He received his PhD from the Indian Institute of Technology, Mumbai
and did his post-doctoral work at the
Sameer Shah - President
Yeshwant Rao - Director (Operations)
Products:
CCL Optoelectronics supplies equipments, components and solutions to the telecommunications industry.
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.40.49 |
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|
1 |
Rs.82.38 |
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Euro |
1 |
Rs.56.14 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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27 |
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 |
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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. |
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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