MIRA
INFORM REPORT
|
Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LUCID IMAGING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
315/A, 9th Main Road, 5th Block, Jayanager, Bangalore – 560041, Karnataka
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
16.06.2005 |
|
|
|
|
Com. Reg. No.: |
08-51399 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51399KA2005PTC036560 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importer and Distributors of Industrial Cameras, Framegrabbers, Camera Cables And Software Tools |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mrs. Bhawani |
|
Designation : |
Accounts Executive |
|
Date : |
28.08.2008 |
LOCATIONS
|
Registered Office : |
315/A, 9th Main Road, 5th Block, Jayanager, Bangalore – 560041,
Karnataka |
|
Tel. No.: |
91-80-22448252 |
|
Fax No.: |
91-80-22448254 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
DIRECTORS
|
Name : |
Mr. Anand Prasad Chinnaswamy |
|
Designation : |
Managing Director |
|
Address: |
No. 67, 5th A Cross, 16th Main, BTM II Stage, Bangalore – 560078, Karnataka |
|
Date of Birth/Age : |
38 years |
|
Qualification : |
B.E.M.S (Elec), M.S. (Plastics) |
|
Experience : |
12 Years |
|
Date of Appointment : |
16.06.2005 |
|
|
|
|
Name : |
Mr. Ganesh Devaraj |
|
Designation : |
Director |
|
Address : |
No. 638, 14th Cross Road, 8th Main, J P Nagar III Phase, Bangalore – 560078, Karnataka |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
B.E., M.S., PHD |
|
Experience : |
9 Years |
|
Date of Appointment : |
16.06.2005 |
|
|
|
|
Name : |
Mrs. Xamini Prasad |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Yamini Priya A |
|
Designation : |
Director |
|
Date of Appointment : |
16.06.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 16.06.2005
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Anand Prasad Chinnaswamy |
|
5500 |
|
Mr. Ganesh Devaraj |
|
4500 |
AS ON 31.03.2006
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Distributors of Industrial Cameras, Framegrabbers, Camera Cables And Software Tools |
|
|
|
|
Imports : |
|
|
Countries : |
European Countries, France And USA |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
|
Suppliers : |
v Atmel, France v Nortech Systms Intercon1, USA v EPIX, USA v Info Aspect Private Limited v J P Lights India v Inter Space v Sollton Technologies |
|
|
|
|
Customers : |
v Premier Evolvics, Coimbatore v SEIGER, Coimbatore v Applied Automation, Coimbatore v Kritical Secure Scan End Users |
|
|
|
|
No. of Employees : |
15 |
|
|
|
|
Bankers : |
v HSBC, Jayanagar Branch, Bangalore v Corporation Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Narayanan and Remesh Chartered Accountant |
|
Address : |
No. 103, Brigade Links, 1st Main Road, Seshadripuram –
560020, Karnataka |
|
Tel. No.: |
91-80-23441114/233403014 |
|
Fax. No.: |
91-80-23448660 |
|
|
|
|
Associates/Subsidiaries : |
Soliton Technologies Private Limited, Bangalore Premier Equipments and Agencies |
CAPITAL STRUCTURE
AS ON 31.03.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
78400 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.784 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.784 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.350 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3.134 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.134 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.013 |
|
|
Capital work-in-progress |
|
|
0.049 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.191 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.932 |
|
|
Sundry Debtors |
|
|
0.738 |
|
|
Cash & Bank Balances |
|
|
2.247 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.611 |
|
Total
Current Assets |
|
|
5.528 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
2.068 |
|
|
Provisions |
|
|
1.579 |
|
Total
Current Liabilities |
|
|
3.647 |
|
|
Net Current Assets |
|
|
1.881 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.134 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
|
Sales Turnover |
|
|
13.282 |
|
|
Total Income |
|
|
13.282 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
3.766 |
|
|
Provision for Taxation |
|
|
1.415 |
|
|
Profit/(Loss) After Tax |
|
|
2.351 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
|
|
6.733 |
|
Total Imports |
|
|
6.733 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
|
0.040 |
|
|
Other Expenditure |
|
|
9.476 |
|
Total Expenditure |
|
|
9.516 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
PAT / Total Income |
(%) |
|
|
17.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
28.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
57.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
1.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.51 |
LOCAL AGENCY FURTHER
INFORMATION
Trade References
v
Premium
Evolvics Private Limited, Coimbatore
v
The Critical
Scan Private Limited
Website details are attached herewith:
Company
Profile
Company was started with the objective of
bringing the latest in vision technology to OEMs and end users in India. Their
primary objective is to add value by enabling the use of vision technology
through distribution of world class vision products in India and by sharing
their vision expertise via application specific consultancy and training.
Company offers
vision components such as Area Scan Cameras, Line Scan Cameras, board cameras,
Frame grabbers, Interface cables, Optics, illumination accessories and software
tools. For users requiring complete systems, Lucid offers solutions for
assembly inspection, surface inspection, defect analyses, dimensional
measurements and sorting.
VISION
PRODUCTS
Company offers a wide range of vision products that include cameras, frame
grabbers, optics, illuminations, test targets and other accessories for machine
vision.
Company is the authorized distributor for Atmel's Professional Imaging
products in India. Atmel is a world leader in cameras for machine vision with a
wide product range of line scan cameras. Atmel also offers high performance
CMOS area scan cameras.
Lucid is also an authorized distributor for Epix frame grabbers in
India. Epix offers a wide range of cost effective, CameraLink compliant frame
grabbers. Lucid Imaging is also an authorized distributor for Intercon cables,
the worlds leading manufacturer of cables for machine vision applications.
Optics is a key component in vision systems. Lucid Imaging brings world class
optics from Nikon, Navitar and Computar covering a gamut of optics from fixed
to variable focus, with manual and motorized zooms. Lucid Imaging offer
products from Advanced Illumination, Nerlite, CCS-America and Schott Fostec for
the lighting needs. The product ranges cover LED, fluorescent, halogen and
fiber optic illumination.
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.43.73 |
|
UK Pound |
1 |
Rs.80.57 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|