MIRA
INFORM REPORT
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Report Date : |
11.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
HORIZON BROADCAST ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
E-55, Greater Kailash-I, New Delhi – 110 048 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.10.1999 |
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Com. Reg. No.: |
55-102035 |
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CIN No.: [Company
Identification No.] |
U51109DL1999PTC102035 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELH03023G / DELH04975F |
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PAN No.: [Permanent
Account No.] |
AAACH8246G |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Import and Trader of Broadcasting and Satellite Communication Equipments, Digital Transmeters, Signal Compressors, etc. |
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 73125 |
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Status : |
Good |
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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 meeting its normal
commitments timeously. Trade relations are fair. General financial position
is good. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
E-55, Greater Kailash - I, New Delhi - 110 048, India |
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Tel. No.: |
91-124-2561179/2562512/2562513 |
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Mobile No.: |
91-124-2561428 |
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E-Mail : |
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Website : |
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Corporate Office / Head office : |
205-207, Tower B, Global Business Park, Sikandarpur, Mehrauli – Gurgaon Road, Gurgaon – 122 002, Haryana, India |
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Tel. No.: |
91-124-26562512 / 26562513 / 26561179 / 2562512 / 2562513 / 5061675/ 76/ 77 |
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Mobile No.: |
91-98112 35616 |
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Fax No.: |
91-124-26561428 / 2561428 |
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E-Mail : |
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Branches : |
5106/2, Jade Junction, H-Block, 15th Main Road, Anna Nagar, Chennai – 600040, India |
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Tel. No.: |
91-044-6160009 |
DIRECTORS
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Name : |
Mrs. Rukmani Bhatia |
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Designation : |
Director |
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Address : |
E-55, Greater Kailash - I, New Delhi - 110 048, India |
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Date of Birth/Age : |
08.05.1951 |
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Qualification : |
Graduate from Delhi University & MBA |
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Experience : |
10 Years |
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Date of Appointment : |
20.10.1999 |
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Name : |
Mr. Kuldeep Kaul |
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Designation : |
Director |
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Address : |
302 Block 22, Heritage City, Gurgaon Mehrauli Road, Gurgaon – 122 001,
Haryana, India |
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Date of Birth/Age : |
23.10.1961 |
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Qualification : |
B. E. From Regional Engineering College, Karnataka |
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Experience : |
15 Years |
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Date of Appointment : |
20.10.1999 |
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Name : |
Mrs. Romella Kaul |
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Designation : |
Director |
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Address : |
Flat No. 302, Block 22, Unitech Heritage City, Mehrauli Road, Gurgaon
– 122 001, Haryana, India |
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Date of Birth/Age : |
09.10.1965 |
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Qualification : |
Graduate from Delhi University |
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Experience : |
10 Years |
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Date of Appointment : |
27.12.1999 |
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Name : |
Mr. Nandlal Bhatia |
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Designation : |
Director |
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Address : |
E-55, Greater Kailash - I, New Delhi - 110 048, India |
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Date of Birth/Age : |
15.08.1948 |
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Qualification : |
M. Tech. From IIT – Delhi & MBA From FMS |
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Experience : |
20 Years |
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Date of Appointment : |
27.12.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
No. of Shares |
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Mr. Rukmani Bhatia |
100 |
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Mr. Kuldeep Kaul |
100 |
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Mr. Nand Lal Bhatia |
4900 |
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Mrs. Romella Kaul |
4900 |
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Total |
10000 |
Equity share breakup (Percentage of total equity)
(As on 31.03.2007)
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.000 |
BUSINESS DETAILS
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Line of Business : |
Import and Trader of Broadcasting and Satellite Communication Equipments, Digital Transmeters, Signal Compressors, etc. |
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Products : |
· FM Transmitters · FM/UHF/VHF Antennas · Digital Compression Encoders · Modulators · Receivers · ATM · IP Products · DSNG Mobile Vans · OB/Studio Vans · Portable / Motorized Antennas · Talk Show Systems · TV Transmitters · Conditional Access Systems, Set Top Boxes · Studio Consoles · Video Servers · Intercom Talkback Systems · Switchers and Routers for Broadcast Purposes · Audio Mixers · Delay Units |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
· Major Public, · Private Broadcasters · Network Operators In TV, Radio And Cable Industries. Television · Doordashan · TV Today · Star News · SaharaIndia TV Networks · Sun TV · Sahara TV · Zee · TV Today · NDTV · STAR · Essel Shyam Communications · Asianet · Videsh Sanchar Nigam Limited · Bharti · Raj TV · Jain TV · Eenadu TV · CNBC · E-TV Radio · All India Radio · Radiocity FM (Star) · Times FM · Millenium Broadcast · Incable · Seven Star · Red FM · IGNOU · Sun TV · Go FM · Win FM · Star TV · Udaya TV · Suryan FM · NDTV · Hindustan Lever |
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Bankers : |
v HDFC Bank C-55, G. K. Part 1, New Delhi – 400 048, India v Standard Chartered Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name 1: |
Mr. Prakash C. Surana Chartered Accountants |
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Address : |
A- 401, Defence Colony, New Delhi - 110 024, India |
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Tel. No.: |
91-11-51551415 |
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Name 2: |
Mr. Jindal and Company Chartered Accountants |
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Address : |
E-10, Kanti Nagar Extn. Delhi – 110 051, India |
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Collaborators : |
· Advent Communications, UK · Tandberg Television Limited, Norway · Jampro Antennas Inc., USA · Broadcast Electronics, USA · DESISTI, Singapore · Clearcom, USA · BBC, UK · NDS, UK · Telecast Fiber Systems Inc., USA · Harris Transmitter, USA · Telescript Limited, UK · Hitech Systems Limited, USA |
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Associates/Subsidiaries : |
HBE Avio Sec Private Limited 205, Tawer B, GBP, Gurgaon, Haryana --Value added sellers |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.525 |
8.799 |
4.604 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.625 |
8.899 |
4.704 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.051 |
0.051 |
0.051 |
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TOTAL BORROWING |
0.051 |
0.051 |
0.051 |
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DEFERRED TAX LIABILITIES |
0.316 |
0.474 |
0.721 |
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TOTAL |
14.992 |
9.424 |
5.476 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.053 |
10.710 |
12.192 |
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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 |
4.458
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2.047 |
8.024 |
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Sundry Debtors |
11.458
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1.856 |
4.551 |
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Cash & Bank Balances |
11.680
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26.794 |
3.197 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
25.598
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16.317 |
8.102 |
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Total
Current Assets |
53.194
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47.014 |
23.874 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
39.389
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44.016 |
28.812 |
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Provisions |
7.873
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4.294 |
1.789 |
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Total
Current Liabilities |
47.262
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48.310 |
30.601 |
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Net Current Assets |
5.932
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(1.296) |
(6.727) |
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MISCELLANEOUS EXPENSES |
0.007 |
0.010 |
0.011 |
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TOTAL |
14.992 |
9.424 |
5.476 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
65.070 |
52.499 |
31.798 |
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Total Income |
65.070 |
52.499 |
31.798 |
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Profit/(Loss) Before Tax |
10.164 |
6.866 |
2.974 |
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Provision for Taxation |
4.439 |
2.670 |
1.109 |
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Profit/(Loss) After Tax |
5.725 |
4.196 |
1.865 |
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Expenditures : |
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Depreciation & Amortization |
2.153 |
2.452 |
2.883 |
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Other Expenditure |
52.753 |
43.181 |
25.941 |
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Total Expenditure |
54.906 |
45.633 |
28.824 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
8.80
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7.99 |
5.86 |
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Net Profit Margin (PBT/Sales) |
(%) |
15.62
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13.08 |
9.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.62
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13.08 |
9.35 |
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Return on Investment (ROI) (PBT/Networth) |
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0.69
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0.13 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.23
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5.43 |
6.50 |
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Current Ratio (Current Asset/Current Liability) |
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1.13
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0.97 |
0.78 |
LOCAL AGENCY
FURTHER INFORMATION
Profile :-
The company is a young, dynamic and fast moving organisation formed by a group of professionals. The company’s play is Video Transmission and FM Radio. The company had been growing consistently at the rate of 52% per year and had sold equipments over 10 million $ during the year 2002-03. The key strength had been offering value for money and excellent after sales support. The company had become a partner of choice for about 60 % leading broadcasters of the country and control market share of over 80% for the chosen line of business.
Fixed Assets:-
· Mobile Phones,
· Motor Car,
· Furniture and Fixtures.
The company is in
trade terms with :-
· Broadcast Electronics
4100 North 24th Street, Qunicy, IL 62301, USA
· Jampro Antennas Inc.
6240 Sky Creek Drive, Sacramento, Chartered Accountants 92829, USA
· Tandberg Television
Strategic Park, Combines Way, Hedge End, Southampton SO30 4DA, UK
· Tandberg Television
3018, 30/F, Admirealty Center, Tower – 1, 18 Harcourt Road, Hong Kong
· Advent Communications
Nashleign Hill, Chesham Bucks, HP5 3HE, England
· Telos System
2101 Superior Avenue, Cleveland OH 441144, USA
· Harris Corporation (TV Division)
Broadcast Communications Division
3200 Wismann Lene, Quincy, IL 62301, USA
· NDS Technologies Israel Limited
P. O. Box 23012, Har Hotzvim, Jerusalem 91235, Israel
· Wheatstone Corporation
600 Industrial Drive, New Bern, North Carolina 28562, USA
· Desisti Lighting
Block 10 UBI Cresent, # 6-28, UBI Techpark, Singapore – 408 564
· Web Clarity Division
3100 Steeles Avenue West, Suite 205 Concord, ON L4K 3R1
· Clear-Com International
4065 Hollis Street, Emeryville, Chartered Accountants 94608, USA
· Quartz Electronics Limited
59 Suttons Business Park, Reading, England, RG6 1AZ
· Sierra Automated Systems and Engineering Corporation
2625, North San Fernanda Road, Burbank, California, 91504, USA
· Eventide Inc.
One Alsan Way, Little Ferry NJ 07643, USA
· RIZ-Transmitters Company
Bozidareviceva 13, P. O. Box 654, HR – 10000 Zagreb, Crotia
Website Details:-
Founded in 1997 the company is focused on delivering state of the art
broadcast solutions. The company is a partner of choice for all leading
broadcasters in India. HBE is considered a single stop broadcaster shop.
HBE Group has become one of the most respected V.A.R. for a wide range of
products ranging from broadcasting solutions, avionics and electronic security
systems.
Founded in 1997 with the vision of delivering state of the art
broadcasting solutions the organization soon diversified into high technology
areas of avionics and electronic security systems.
Since its inception the HBE Group has maintained a C.A.G.R. of over 52% for
first five years of operation and in the sixth year the group recorded a
phenomenal growth of 300%.
HBE Group commands a market share of 70 to 94% for all products represented by
it. The group boasts of a highly talented and motivated work force who have
been constantly enriching their knowledge and skills.
Group Philosophy
Achieving customer delight by:
· Selecting Best and Committed Partners offering world-class products suited to Indian environmental conditions.
· Minimizing project cost by inclusion of Local products and Services
· World class System Integration Services by highly experienced and competent SI team
· Achieving Best SLA
· Continuous investment in training and technology to stay tuned with product innovations and exceed customer expectations
· Internal rate of change > rate of change of environment
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 :
The 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.
The 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. 42.20 |
|
UK Pound |
1 |
Rs. 81.48 |
|
Euro |
1 |
Rs. 64.27 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
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. |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|