MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJASTHAN ELECTRONICS AND INSTRUMENTS LIMITED |
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Registered Office : |
2, Kanakpura
Industrial Area, Sirsi Road, Jaipur – 302 012, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.06.1981 |
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Com. Reg. No.: |
17 - 2249 |
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CIN No.: [Company
Identification No.] |
U51395RJ1981G01002249 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRR02579D |
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PAN No.: [Permanent
Account No.] |
AAABCR1528 |
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Legal Form : |
A Closely held Public Limited Liability Company |
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Line of Business : |
Manufacturing and Marketing of Electronic Products and
Services. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 691000 |
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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 of Rajasthan Government. Available information indicates high financial responsibility of the company. Fundamentals are strong. Trade relations are fair. The company is doing well. It’s payments are correct and as per commitments. The company can be considered good for any normal business
dealings. It can be regarded as a promising business partner in a medium to
long run. |
LOCATIONS
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Registered Office : |
2,
Kanakpura Industrial Area, Sirsi Road, Jaipur – 302 012, Rajasthan, India |
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Tel. No.: |
91-141-2470271, 2470062, 2470363 |
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Fax No.: |
91-141-2470926, 2470981, 2470841 |
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E-Mail : |
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Website : |
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Corporate Office : |
D-280,
Todarmal Marg, Banipark, Jaipur-302016, Rajasthan, India |
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Tel. No.: |
91-141-2203038 |
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Fax No.: |
91-141-2202071 (Dedicated) |
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E-Mail : |
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Factory : |
B –
17, Chomu House, Kanakapura Industrial Area, C- Scheme, Jaipur – 302 001,
Rajasthan, India |
DIRECTORS
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Name : |
Mr. Rakesh Hooja |
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Designation : |
Chairman cum Director |
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Name : |
Mr. M. M. Bhardwaj |
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Designation : |
Managing Director |
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Name : |
Mr. K. N. Misra |
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Designation : |
Director |
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Name : |
Mr. Naveen Mahajan |
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Designation : |
Director |
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Name : |
Mr. Ajit Singh |
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Designation : |
Director |
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Name : |
Mr. R. S. Chauhan |
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Designation : |
Director |
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Name : |
Mr. S. K. Kakkar |
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Designation : |
Director |
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Name : |
Mr. V. S. Ranka |
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Designation : |
Director |
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Name : |
Mr. Kuldeep Ranka |
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Designation : |
Director |
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Name : |
Mr. Rajesh Yadav |
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Designation : |
Director |
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Name : |
Mr. Dr. Vinay Mohan |
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Designation : |
Director |
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Name : |
Sh. P.M. Bhardwaj |
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Designation : |
Director |
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Name : |
Mr. Dr. Rajat Kanti Baisya |
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Designation : |
Director |
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Name : |
Col. (Retd) Sona Ram Chouhan |
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Designation : |
Director |
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Name : |
Mr. Dr. U.K. Sen |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. R. P. Tak |
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Designation : |
Company Secretary |
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Name : |
Mr. A.K. Jain |
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Designation : |
General Manager (Marketing Electronics) |
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Phone No.: |
91-141-2470709 |
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Fax No.: |
91-141-2470784 |
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Email : |
jain@reiljp.com |
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Name : |
Mr. Ajay Bhargava |
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Designation : |
Additional General Manager (Information Technology) |
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Phone No.: |
91-141-2203038 |
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Fax No.: |
91-141-2202701 |
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Email : |
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Name : |
Mr. Mukesh Mathur |
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Designation : |
(Marketing – Renewable Energy) |
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Phone No.: |
91-141-2470908 |
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Fax No.: |
91-141-2470841 |
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Email : |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Electronic Products and
Services. |
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Products : |
Agro Dairy
SPV Product
Information Technology
Industrial
Electronics
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GENERAL
INFORMATION
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Customers : |
v MEREG,
Germany, v WNB
Automation, Germany, v The Punjab
State Co-operative Milk Producers Federation Limited v Haryana
Energy Development Agency v Non-Conventional
Energy Development Agency UP v Uttaranchal
Renewal Energy Development Agency v Social
Work & Research Center v Tilonia,
Ministry of Non-Conventional Energy Sources v Rajasthan
Rajya Vidyut Utpadan Nigam Limited v Rajasthan
Rajya Vidyut Prasaran Nigam Limited v Jaipur
Vidyut Vitran Nigam Limited v Ajmer
Vidyut Vitran Nigam Limited v Jodhpur
Vidyut Vitran Nigam Limited, Jaipur |
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No. of Employees : |
700 |
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Bankers : |
·
Bank of Baroda, Park Street Branch, Jaipur-302 001,
Rajasthan, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
C R Mehta and Company Chartered Accountants |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5500000 |
Equity Shares |
Rs. 10/- Each |
Rs. 5.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2250000 |
Equity Shares |
Rs. 10/- Each |
Rs. 22.500 Millions |
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 |
22.500 |
22.500 |
12.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
115.700 |
97.700 |
80.500 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
138.200 |
120.200 |
93.000 |
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LOAN FUNDS |
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1] Secured Loans |
127.300 |
86.400 |
105.700 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
127.300 |
86.400 |
105.700 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
265.500 |
206.600 |
198.700 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
122.400 |
56.300 |
54.800 |
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Capital work-in-progress |
2.100 |
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 |
77.800
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70.900
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68.100
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Sundry Debtors |
291.400
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207.100
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204.300
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Cash & Bank Balances |
6.800
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12.200
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8.300
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
30.300
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42.200
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39.600
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Total
Current Assets |
406.300
|
332.400 |
320.300
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
246.700
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152.300
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157.400
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Provisions |
18.600
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29.800
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19.000
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Total
Current Liabilities |
265.300
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182.100 |
176.400
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Net Current Assets |
141.000
|
150.300 |
143.900
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
265.500 |
206.600 |
198.700 |
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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 |
713.600 |
610.600 |
590.700 |
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Other Income |
7.500 |
10.800 |
8.100 |
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Total Income |
721.100 |
621.400 |
598.800 |
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Profit/(Loss) Before Tax |
34.700 |
31.600 |
30.300 |
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Provision for Taxation |
11.500 |
9.300 |
10.300 |
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Profit/(Loss) After Tax |
23.200 |
22.300 |
20.000 |
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Expenditures : |
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Cost of Goods Sold |
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Manufacturing Expenses |
4.000 |
4.300 |
6.200 |
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Administrative Expenses |
59.600 |
56.200 |
56.900 |
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Raw Material Consumed |
516.600 |
430.500 |
406.200 |
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Increase/(Decrease) in Finished Goods |
3.000 |
(0.200) |
3.800 |
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Interest |
12.300 |
11.800 |
12.700 |
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Power & Fuel |
3.000 |
2.700 |
2.300 |
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Depreciation & Amortization |
6.500 |
5.200 |
4.800 |
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Other Expenditure |
81.400 |
79.300 |
75.600 |
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Total Expenditure |
686.400 |
589.800 |
568.500 |
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KEY
RATIO
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt-Equity
Ratio |
0.83 |
0.90 |
1.13 |
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Long
Term Debt-Equity Ratio |
0.16 |
0.33 |
0.52 |
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Current
Ratio |
1.19 |
1.36 |
1.35 |
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TURNOVER
RATIOS |
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Fixed
Assets |
5.03 |
5.96 |
6.49 |
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Inventory |
9.60 |
8.79 |
8.81 |
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Debtors |
2.86 |
2.97 |
2.99 |
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Interest
Cover Ratio |
3.82 |
3.68 |
3.39 |
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Operating
Profit Margin(%) |
7.50 |
7.96 |
8.09 |
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Profit
Before Interest And Tax Margin(%) |
6.59 |
7.11 |
7.28 |
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Cash
Profit Margin(%) |
4.16 |
4.50 |
4.20 |
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Adjusted
Net Profit Margin(%) |
3.25 |
3.65 |
3.39 |
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Return
On Capital Employed(%) |
19.91 |
21.42 |
23.88 |
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Return
On Net Worth(%) |
17.96 |
20.92 |
23.68 |
LOCAL AGENCY
FURTHER INFORMATION
Performance of the
Company:
The Company has maintained its blazing track of performance for the year
2006-07 which conceded its Silver Jubilee Year also. The turnover of the Company
has increased by more than 16% from Rs. 621.300 Millions in the last financial
year to Rs. 721.000 Millions in current financial year. The net profit of the
Company stands at Rs. 23.200 Millions in current year in comparison of Rs.
22.300 Millions in previous year. In the year Company has successfully
installed and commissioned its own 1.2 MW Wind Power Project at Jaisalmer,
Rajasthan.
Appropriations:
Dividend
The Directors of the Company are pleased to recommend dividend @ 20% for the year
2006-07 i.e. Rs. 2.00 per equity share on fully paid up Rs. 2.250 Millions
equity shares of Rs. 10 each. The outgo on this account would result in
appropriation of Rs. 5.265 Millions (including Corporate Dividend Tax of Rs.
0.765 Million) out of the profits. The total appropriation of dividend gives
22.69% pay out on net profit of the Company.
Transfer to Reserve
It is proposed to transfer Rs. 17.500 Millions to The General Reserve. An
amount of Rs. 1.450 Millions is proposed to be retained in the profit and loss
account.
The Year of Silver Jubilee:
The Company completed twenty-five years of operations on 12th June 2006.
Therefore the Company celebrated the Year 2006-07 as the Silver Jubilee year. A
grand and gala function was held on 12.6.06 and graced by Hon'ble Union
Minister of Heavy Industries and Public Enterprises, Government of India. A
Souvenir marking the event was also released on the occasion.
Corporate Review:
The Company operates in two main business segments viz. Electronic and
Information Technology and Renewable Energy.
This year was yet another year of satisfactory performance. The Company exceeds
its target both in respect of turnover and profits. The Electronics and
Information Technology Division (E and IT) and the Renewable Energy Division
(RE), both performed satisfactorily.
Subject has established itself as a major player in both the segments with a
very comprehensive range of products.
The Company has been upgrading its range by adding new products and features,
and is a market leader for its product Electronic Milk Tester.
The Company has state-of-art manufacturing facilities at its Works. It has
continuously expanded its production capacity by upgrading production
facilities through regular investment in manufacturing lines.
Although, company has registered an impressive increase in its turnover, it has
faced crunch on account of all round increase in cost of basic raw material
specially metals. This substantial increase in metal and raw material cost has
depressed profits in comparison to the increase of turnover.
The overall increase in production levels, better operational efficiencies,
aggressive marketing couple with excellent brand equity of products has enabled
company to increase its revenue and sustain its earnings.
The Company took up the Product Certification of SPV Module up to 150 watt as
per International Standard IEC 61215. The re-certification audit for QMS ISO
9001:2000 was carried out successfully and the validity of ISO 9001 certificate
was extended up to 14-11-2009.
The Company also took up implementation of the Enterprise Resource Planning
(ERP) system during the year. It has proposed to implement KIZEN techniques for
its manufacturing process in the year 2007-08
Segment Wise Performance:
Electronics and Information Technology (E and IT)
Division
The Electronic Division has achieved ever-highest turn over of Rs. 357.859
Millions in the year 2006-07. It has deployed a record number of Electronic
Milk Tester (7514), Data Processor Milk Collection Stations along with newly
developed Auto Electronic Milk Testers. The company also extended its After
Sales Network to customer and has touched ever highest revenue from these
operations i.e. Rs. 31.538 Millions.
E and IT Division bagged a prestigious order from M/s Reliance Industries
Limited for supplying customized data processor units exclusively made to the
requirement of M/s Reliance Industries. The scope of order includes supply of
Electronic Weighing Scales, customized milk collection software.
The E and IT Division has also enlarged its activities by providing Dairy ERP
Solutions and has taken steps towards this direction and received a prestigious
order from Sabar Dairy, Himmatnagar.
The focus of the division has been to satisfy its esteemed customers both
external through prompt deliveries and services and internal through
engineering support for products/ processes.
The division enjoys its brand equity in the Agro Dairy segment through its
Customer Focused approach ensuring prompt deliveries of products and extending
proper after sales support.
The division has been taking active part in activities such as workshops,
seminars exhibitions etc., related to improvements/ upgradation of milk collection
processes thereby improving the milk quality in the dairy industry.
The company participated in the special session "Industry Speaks"
organized by Indian Dairy Association (IDA) in its XXXV Dairy Industry
Conference at Kolkata. The company exhibited its products on the occasion. The
company also participated in a national seminar on "Quality Milk
Management" organized by Indian Dairy Association (North Zone) at
Shikohabad.
The customer satisfaction is directly linked with the performance of the product.
To ensure uninterrupted functioning of the products, the division is giving due
importance to training to customers on system operation and maintenance.
On-site training programmes are being arranged for customers. Over 2500
man-days of training were provided to customers all over the country during the
year 2006-07. The trainers are also given refreshers periodically to update
them. This not only upgrades the skill of employees but also motivates them to
perform still better.
The population of company's products is increasing every year. With a
population of 56668 nos. of Electronic Milk Analyzers, 4848 nos of PC/ DP Milk
Collection Stations and 756 nos. Data Processor Electronic Milk Analyzers, the
company is practically leading the market The division is in touch with the
customers through its Regional Offices and Field Maintenance Centers,
strategically located all over the country to provide technical support. A
regional coordination group at headquarters backs the field network.
During the year the Information Technology Division of the Company has been
engaged in implementation and commercialization of PDT application; software
applications development; information technology automation in the Company;
hosting and management of the REIL website.
In this year the division has supplied Electronic Ticketing Machines to State
Road Transport Corporation, installed and commissioned RFID card based Tourist
Access Facilitation System for tourist access control at the Amber Palace and
undertaken system integration for supply of around 1050 Nos. AMCU system
Subject has sold 8674 SPV Domestic Lighting Systems in the year 2006-07
covering the State of Rajasthan, Gujarat, and other parts of the country.
Subject has also successfully executed a project from Chhatisgarh Renewable
Energy for supply, installation and commissioning of 2 KWp to 4 KWp Stand Alone
Power Plant in remote tribal areas.
Subject has also exported PV Modules of more than Rs. 50.000 Millions. These
exports were mainly made to Germany, Spain, Afghanistan and Nepal.
Subject has also successfully executed a project under orders from Rajasthan
Council of Elementary Education, Jaipur for powering of Computers deployed in
the schools.
A total of 512 nos. of schools located all over Rajasthan were covered under
this scheme where a 240 Wp SPV Hybrid Power Pack was deployed to meet the power
requirements.
Subject has also installed and commissioned 3000 nos. SPV Domestic Lighting
System and 300 nos. SPV Street Lighting System under remote village
electrification program covering 57 remote villages in Jharkhand. The total
order for this job was 59.160 Millions
Subject has also supplied PV Power Packs for R.F. Communication towers to
streamline communication links between Panchayati Raj, Sub-Division, District
Head Quarter and State Head Quarter for effective monitoring of development
activities undertaken by Panchayati Raj Department of Government of
Rajasthan.
In order to explore potentials in African Continent, Company participated in an
international trade fair at Khartoum, Sudan from 22-26th August 2006. This
Seminar was organized by ASSOCHAM.
Production:
The production during the financial year 2006-2007 amounted to Rs. 592.406
Millions [including Balance of System (B.O.S.) of Rs. 70.343 Millions] as
against Rs. 500.000 Millions [including Balance of System (B.O.S.) of Rs.
86.900 Millions] achieved in 2005-2006.
A production of 30519 (nos.) of Solar Photo Voltaic Modules (equivalent to 1195
KW) and 7514 (nos.) of Electronic Milk Testers was achieved during the year
2006-2007.
Development Of Support Units:
To meet the global competition successfully in the changed industrial
environment and to diversify in new areas, Development of support Industries
has become essential. Support industries have the strength to develop and
handle the variety of jobs in shorter lead times. REIL since its inception has
been continuously developing support industries to cater its yearly requirement
of components and sub-assemblies for regular products.
Company is also regularly participating in development of program and
interactive discussions being organized by SISI, Jaipur. Company has also
participated in Rajplast Techmart 2007, a National Conference-Cum-Exhibition on
plastic material in the year 2006-07.
Research and
Development And Technology Absorption
Company has a full fledged Research and Development Department recognized by
Department of Scientific and Industrial Research, Ministry of Science and
Technology.
This department is committed for up gradation of existing products to make them
cost effective as well as it dedicate itself for development of new products
based on marketing and customer's feed back.
New Developments
Development of following products was undertaken for the Agro-Dairy
segment. The products shall be launched in the market in the year 2007-08 after
successful completion of field trials.
Optical Milk Analyzer
Based on the requirement received from field and design inputs received, the
design and development of Optical Milk analyzer was taken up. The instrument
works on the principle of photometric measurement of light allowed to pass
through the Measurement Device.
The instrument allows capturing of milk FAT from an Electronic Milk Tester
(EMT) and displays FAT and SNF% on Optical Milk Analyser LCD. Option for
display of CLR is also available. The instrument is simple, economical,
reliable and rugged for milk analysis.
The instrument can be integrated with Automatic Milk Collection Unit for quick
measurement of milk parameters, processing and storing them for. With a
measurement speed of 150 samples/ hr., the instrument is ideally suited for the
village milk collection centers, milkchilling canters etc.
Data Processor Unit
The design and development of a product for data processing requirement was
taken up. The Data Processor Unit is a dedicated unit, which receives,
processes and transmits data. It communicates with the following:
-Electronic Milk Tester (EMT)/ Milk Analyzer-Electronic Weighing Scale
(EWS)-Remote Display Unit-Printer (Optional)
The instrument has an in-built printer, which facilitates slip print out of
every transaction.
The shift end summary can be uploaded on a specially designed serial pen drive
for further downloading and processing of milk transaction data at BMC center
/milk plant.
Serial Pen Drive
Serial Pen Drive has been developed as a memory device for uploading/
downloading of data / information. The unit has a unique feature that it can be
used with the system in which the software is provided, which prevents any
manipulation of data during transit.
Dairy IT/ Application Software
Development
The Department has a dedicated team for development of application software for
the products for Agro Dairy Segment. The Milk Procurement and Management System
Software has been developed as a solution to Dairy Industry for all the
activities at Milk Collection Centres, Bulk Milk Coolers/ Chilling Centres and
Dairy Plants. The software is menu driven, operator friendly and is easy and
simple to use.
R and D Expenditure
The expenditure on Research and Development (R and D) during the year in
report is as under:
(Rs. in Millions)
(a) Capital 2.476
(b) Revenue 8.103
(c) Total 10.579
(d) Total R and D expenditure as a percentage of Total turnover
1.47%
The Main Areas of Development Activities:
Agro-Dairy Product/ Applications
Smart card based DPEMT has successfully been developed by R and D. This product
is now ready to be commercialized in a specific project designed by National
Dairy Development Board. Special smart card is used to store and carry the
shift, day, and monthly summary.
In line with automation of Electronic Milk Tester AUTO-HANDLE has been
developed to incorporate in the existing EMT's running in the field. The trial
production of 5 nos. of the units have been undertaken for field evaluation of
the product at the milk cooperative societies.
AUTOEMT developed by R and D has been commercialized and 20 Nos. have been
installed at various Milk Co-operative Societies under Jodhpur Dairy.
Solar Electronic Milk Tester has also been commercialised during the year which
is very useful product at remote rural areas.
Solar Photovoltaic Systems/ Modules
R and D has developed 250W charge controller for DOT applications. This product
has been certified by TEC. Now product is ready for commercialization.
The 70W SPV based on line inverter for domestic application has been developed.
This product has been developed specifically for the city consumers and shop
owners.
The company is in trade terms with the following:
- The Punjab State Co-operative Milk Producers Federation Limited
- Rajasthan Cooperative Dairy Federation Limited
- Haryana Energy Development Agency
- Non-Conventional Energy Development Agency UP
- Uttaranchal Renewal Energy Development Agency
- Social Work and Research Center, Tilonia
- Ministry of Non-Conventional Energy Sources
- Rajasthan Rajya Vidyut Utpadan Nigam Limited
- Rajasthan Rajya Vidyut Prasaran Nigam Limited, Jaipur
- Vidyut Vitran Nigam Limited,
- Ajmer Vidyut Vitran Nigam Limited
- Jodhpur Vidyut Vitran Nigam Limited
- Jaipur Nagar Nigam and various
- Management of Instrumentation Limited
- Kota and Rajasthan State Industrial Development and Investment Corporation Limited
Press Release:
National
R and D award to REIL
17th
November 2004
Shri Kapil Sibal, Hon'ble Minister of State (IC) for Science and Technology presented prestigious National R and D award 2004 to Shri MM Bhardwaj, Managing Director, Rajasthan Electronics and Instruments Limited, Jaipur on 16.11.2004 at New Delhi. This award was given to REIL for the development of Raw Milk Reception Dock (RMRD) system, Data Processor Electronic Milk Tester (DPEMT) and Cooperative Society Accounts Management Software (SAMS) system in the category of Industrial Electronics / Opto Electronics.
Hon'ble Minister Shri Sibal praised and congratulated REIL for Research and Development efforts made in the field of Dairy Electronics, which have benefited Rural families to raise their Social and Economic status. The deployment of these instruments ensures immediate quality testing of Milk, fair payment and proper documentation in transparent manner. He further said that smaller Companies like REIL should invest more on R and D efforts for their competitiveness in the global market scenario.
On this occasion, the Managing Director, REIL, Shri MM Bhardwaj informed that right form early days, Company is making R and D efforts in the field of Dairy Electronics and Renewable Energy. He attributed the success to the inspiring team work of Employees and continuous support from National Dairy Development Board, Ministry of Non Conventional Energy Sources and Ministry of Heavy Industries and Public Enterprises. Shri Bhardwaj expressed his gratitude to the Ministry of Science and Technology for considering REIL's effort for the National R and D award.
In the year 2003-04 Company has achieved a turnover of Rs. 552.100 Millions and making an average annual growth of about 16%. Company is a Mini Ratna PSU and has been awarded Excellence in Electronics award twice in the years 1991 and 2000. It is a profit making and dividend paying PSU. Company will continue its efforts in facilitating rural masses in the field of Electronics, Energy and Information Technology
The
Minister and Secretary - MNES, visited REIL
Jaipur, 2nd
August, 2003
Shri M Kannappan – Honourable Minister for Non-conventional Energy Sources, and Shri Ajai Vikram Singh, Secretary, Ministry of Non-conventional Energy Sources, Government of India; visited Rajasthan Electronics and Instruments Limited on Saturday 02.08.2003.
Rajasthan Electronics and Instruments Limited is a leading Public Sector Enterprise in the field of Solar Photo Voltaics. The Company has developed, produced and installed a wide variety of Solar Photo Voltaic equipments through the length and breadth of Country for more than last two decades. REIL has carried a business of around 220.000 Millions through it's Renewable Energy division during the last financial year. The domestic and community Solar Lighting systems are the main products of REIL in the area of Solar Photo Voltaics. So far, the Company has installed more than 45,000 Domestic Solar Lighting systems in the rural sector and Solar Power plants at the new Assembly building and the Secretariat. This year, the Company has installed 10 Kilo Watt Solar Power plants in 16 villages of Rajasthan.
REIL has earned a good name with it's product range – particularly in the rural sector, with its fifty plus Filed Maintenance Centers. The Company earned good credentials for it's products and services - and could contribute to strengthen the rural economy - through continuous innovation, quality products, customers satisfaction and better after-sales-services.
Honourable Minister and the Secretary shown keen interest in various activities and products of the Company and praised the contribution of REIL for installation and maintenance of Solar Photo Voltaic systems in the remote locations and difficult terrain. The Honourable Minister and the Secretary also planted sapling in the factory premises.
On this occasion, Shri M.M. Bhardwaj - Company’s Managing Director, informed that Company has the ISO-9001 certification and maintained "Consistency in Excellence" by getting awarded the "Excellence in Electronics" twice in the years 1991 and 2001 from the Government of India. The turnover of 475.000 Millions was carried during the year 2002-2003 by the Company. The Company has set the turnover target of 55 Crores for the year 2003-2004. Shri Bhardwaj assured the Minister and the Secretary that REIL shall continue to progress with the support of Central and State Governments, the dedication, hard work and devotion of it's Employees.
As Per Website Details:
Subject has a prominent place amongst the electronics
industry of Rajasthan. The company is a joint venture between the Government of
India and the Government of Rajasthan, through their respective institutions. The
company was conferred the status of a "MINI
RATNA" by the Department of Public Enterprises, Ministry of
Industry, Government of India in 1997 on account of it's good allround
performance and excellent products. The company has added another feather in
it's cap by establishing a Quality Management system for its operations and has
been certified as an ISO 9001 firm w.e.f. 31st July,1998. The area
of business extends to manufacturing and marketing of electronic products/
services in the following areas:
In all these sectors, the manufacturing facility is complemented by the
departments for the function of Materials management, Quality Assurance,
Research and Development, Planning and Finance Management along with
infrastructure and country wide network of offices of marketing and after sales
support. The company is self-reliant as far as development activity is
concerned, to enable modification and improvement in existing products and also
introduce new products, in tune with customer requirement.
Subject has its Headquarters and Works at Jaipur, Rajasthan, famous as
the Pink City of India known for its palaces,forts, museums and handicrafts all
over the world. The city is well connected by Rail, Road and Air to the two
major metros of India-namely New Delhi and Bombay and forms part of the golden
triangle of tourism along with New Delhi and Agra.
Subject has its Registered office and Manufacturing facilities situated
at the Kanakpura Industrial area about 12 Kms from the heart of Jaipur city and
is spread over a sprawling campus of ten acres, amidst lush green surroundings,
with over 2700 Sq.Meter area of covered space. Other offices include the
corporate office within the city and Field maintenance centers (FMCs) and
Sub-FMC's spread over most of the regions of the country.
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. 42.82 |
|
UK Pound |
1 |
Rs. 80.01 |
|
Euro |
1 |
Rs. 63.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
56 |
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 |
|