MIRA
INFORM REPORT
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Report Date : |
04.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
OSNA ELECTRONICS PRIVATE LIMITED |
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Formerly Known As : |
P AND F ELECTRONICS INDIA PRIVATE LIMITED |
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Registered Office : |
Factory No.5, Phase – IV, Okhla Industrial Estate, New Delhi – 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.08.1985 |
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Com. Reg. No.: |
55-021702 |
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CIN No.: [Company
Identification No.] |
U74899DL1985PTC021702 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELO00842C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Proximity Switch, Zener Barriers, Encoders, Galvanic
Isolators |
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 15340 |
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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. Trade relations are fair. Business is active. Payments
are reported as 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/ Factory : |
Factory No.5, Phase – IV, Okhla Industrial Estate, New Delhi – 110020,
India |
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Tel. No.: |
91-11-41023750/ 26834295/ 41023751, 41023752 |
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Fax No.: |
91-11-26837323,26923638 |
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E-Mail : |
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Website : |
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Branch Office : |
Baroda 545, Phoenix Complex, Near Suraj Plaza, Sayaji Gunj, Vadodara – 39005, Gujarat, India Tel. No. 91-265 -6560530 Fax No. 91-265- 2226383 E-mail : osna-bar@airtelbroadband.in Chennai E-mail osna-che@airtelbroadband.in Hyderabad Magna Chambers, IV Floor, Leaine Estate, ABID Road, Hyderabad - 500001
Tel. : 91-40-55366703,23387733,23387505, Fax: 91-40-23387896 Email : mailto:osnahyderabad@sify.com Pune Telefax: 020-66019340 E-mail : osna_pune@vsnl.net
Mumbai Mob. No. 09820581392 E-mail:- osna-mum@airtelbroadband.in |
DIRECTORS
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Name : |
Mr. Raghavbir Sawhney |
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Designation : |
Managing Director |
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Address : |
Block No.E5, 104, Charm Wood, Village Surajkund Road, Faridabad,
Haryana |
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Date of Birth/Age : |
08.10.1940 |
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Date of Appointment : |
23.08.1985 |
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Name : |
Mr. Rajbir Sawhney |
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Designation : |
Director |
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Address : |
House No.1306, Sector 37, Faridabad – 121003, Haryana |
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Date of Birth/Age : |
10.07.1944 |
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Date of Appointment : |
06.08.1985 |
KEY EXECUTIVES
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Name : |
Manish Ranjan and Associates |
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Designation : |
Company Secretary |
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Address : |
102, 2nd Floor, Indraprasth Building, H-58 Vikas Marg,
Laxmi Nagar, Delhi – 110092, India |
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Tel No.: |
91-11-43016763 |
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Fax No.: |
91-11-22025707 |
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Mobile : |
91-9811263483 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Raghavbir Sawhney |
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112780 |
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Mr. Rajbir Sawhney |
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10 |
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Total |
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112790 |
(As on 31.03.2006)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Proximity Switch, Zener Barriers, Encoders, Galvanic
Isolators |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Rajesh Arjun and Company Chartered Accountant |
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Address : |
D/83, 2nd Floor, Amar Colony, Lajpat Nagar, IV, New Delhi –
110024, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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112800 |
Equity Shares |
Rs.10/- each |
Rs.1.128
Millions |
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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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1.128 |
1.128 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.707 |
2.154 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.835 |
3.282 |
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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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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.076 |
0.098 |
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TOTAL |
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3.911 |
3.380 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.000 |
1.081 |
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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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3.100 |
0.500 |
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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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1.350 |
1.453 |
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Sundry Debtors |
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4.341 |
3.383 |
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Cash & Bank Balances |
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0.462 |
3.096 |
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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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0.996 |
0.587 |
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Total
Current Assets |
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7.149 |
8.519 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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7.338 |
6.720 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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7.338 |
6.720 |
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Net Current Assets |
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(0.189) |
1.799 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.911 |
3.380 |
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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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21.887 |
21.579 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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21.887 |
21.579 |
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Profit/(Loss) Before Tax |
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0.824 |
0.509 |
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Provision for Taxation |
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0.291 |
0.178 |
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Profit/(Loss) After Tax |
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0.533 |
0.331 |
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Expenditures : |
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Depreciation & Amortization |
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0.267 |
0.264 |
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Other Expenditure |
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20.796 |
20.806 |
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Total Expenditure |
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21.063 |
21.070 |
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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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2.43 |
1.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.76 |
2.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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10.11 |
5.30 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.91 |
2.05 |
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Current Ratio (Current Asset/Current Liability) |
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0.97 |
1.27 |
LOCAL AGENCY
FURTHER INFORMATION
History
1983
Establishing the joint venture between
Dipl.-Ing Raghavbir Sawhney and Pepperl and Fuchs GmbH, Germany
1984
Beginning of Commercial production of proximity
sensors in New Delhi factory.
1985
Registration with the Registrar of Companies, New Delhi
1985
Production of Trip Amplifiers and Speed monitors
started
1986
Participation in first UHDE projects
1987
Receipt of first BASEEFA certificate awarded to an Indian
production unit
1988
First BASEEFA factory assessment in India as per BS 5750 (pre-standard
of the ISO9002)
1989
Registration with EIL (Engineers India Ltd). CMRI
certifications. Participation in sssss Atomic Energy Commission project
for Heavy Water Plant.
1990
Re-naming the company as subject after ending of the collaboration
with Pepperl and Fuchs.]
1991
Re-certification of Ex- products from the CENELEC
1992
Creation of a captive tool room for fabricating moulds for
synthetic housings
1993
The creation of a captive unit for turning
stainless steel housings.
1994
Created a captive unit for injection moulded parts.
1995
First participation at the INTERKAMA 95
1996
The creation of a
captive unit for making transformers
1997
Creation of a captive PCB production unit
1998
Commencing exports to European community
1998
First participation at the Hannover Trade fair 98.
1999
Distribution of products to South Korea
2000
Annual rate contracts with steel and Cement plants in
India
2001
Participation at Hannover and INTERKAMA, Dusseldorf
2001
OSNA OS system production
2002
Participation at International Trade Fair in Shanghai
2003
Commercial production of multi channel signal
converters
2004
Participation at the INTERKAMA in Hannover
2005
Captive unit of roller threading for steel housings.
2005
The 20th Anniversary of OSNA celebrated.
Main strength lies in the following fields:
- Design and
production of customized inductive proximity switches to suit various
geometrical sizes and harsh environmental conditions of high temperature
and pressure.
- Out sourcing
of electronics production from Europe to India.
- Captive Tool
room and injection moulding unit for synthetic housings.
- Design and
production of customized interfaces for signal conversion of temperature,
pressure 4-20 mA and 0-10 v standard signals into voltage, current or
frequency signals with or without limit value monitoring.
- Design and
production of intrinsic safe interfaces with ATEX certification
- Design and
production of synthetic housings to house the above switches or interfaces
in the captive tool room and injection moulding units.
- Sales and
promotion of related products through a nation wide network of OSNA
branch offices which are well staffed with factory trained
engineers, well conversant with application technology of sensors and
interfaces.
- The OSNA
regional offices are located in the following cities in India :
- Bangalore ,
Baroda , Kolkata , Delhi , Hyderabad , and Pune
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.39.95 |
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UK Pound |
1 |
Rs.79.41 |
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Euro |
1 |
Rs.62.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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 |
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|
>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 |
|
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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