MIRA
INFORM REPORT
|
Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CAPE ELECTRIC CORPORATION |
|
|
|
|
Registered Office : |
2/116, Thirunelveli Road, Near Reliance Infocom, Thirupathisaram,
Ozuhinasery, Nagercoil 629 901, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
1997 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Trader and Importer of all electronic gadgets including electrical
switchgears, power capacitors, voltage protection devices, warning systems,
etc |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject seems to be an old and established concern. The management
parted some general information, but declined to part with financial details.
No further information could be made available from any of the sources.
Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
with slight caution initially, in view of non-availability of financials. |
INFORMATION PARTED
BY
|
Name : |
Mr. Chokalingam |
|
Date : |
14.02.2008 |
LOCATIONS
|
Registered Office / Head Office : |
2/116, Thirunelveli Road, Near Reliance Infocom, Thirupathisaram,
Ozuhinasery, Nagercoil 629 901, Tamilnadu, India |
|
Tel. No.: |
91-4652 - 650130/131/132 |
|
Fax No.: |
91-4652 - 274352 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5400 sq. ft. [Owned] |
|
|
|
|
Branches : |
Located at : ·
Delhi ·
Chennai ·
Bangalore ·
Mumbai ·
Trivandrum |
SOLE PROPRIETOR
|
Name : |
Mr. S. Gopakumar |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
Graduate in Engineering |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of all electronic gadgets including electrical switchgears,
power capacitors, voltage protection devices, warning systems, etc |
|
|
|
|
Exports : |
|
|
Products : |
Electrical Switchgears, Power Capacitors, Voltage Protection Devices,
Warning Systems, etc |
|
Countries : |
Sri Lanka |
|
|
|
|
Imports : |
|
|
Products : |
Electrical Switchgears, Power Capacitors, Voltage Protection Devices,
Warning Systems, etc |
|
Countries : |
Germany and Spain |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
Around 75 |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Cape Electric
India Private Limited Address : Nagercoil, Tamilnadu, India Activities : Trader and Importer of all electronic gadgets including
electrical switchgears, power capacitors, voltage protection devices, warning
systems, etc |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE
- Indian
Railway
- Reliance
- Airtel
- Hutch
- Idea Cellular
- BPL Telecom
- Tata
Teleservice
- BSNL
AS PER WEBSITE
Profile
Started in 1996 in Nagercoil to offer special services to WIND Electric
Generators. Subject is ISO 9001 2000 certified company, having offices and
representatives at various locations in India. CEC supplies and services - OBO
Bettermann Transient Over Voltage Protection Devices, Ingesco External
Lightning Warning Systems and Spelsberg Electrical Installation Systems.
CEC Offers site studies, prepares drawings and recommendations, supply, installation
and back up service for complete range of External and Internal Lightning
Protection System according to IEC standards.
The main and most effective measure for protection of structures against
physical damage is considered to be the Lightning Protection System
(LPS). It usually consists of both external and internal lightning
protection systems.
An external LPS is intended to:
- Intercept a
direct lightning flash to the structure (with an air-termination system):
- conduct the
lightning current safely towards earth (using a down-conductor system):
- disperse the
lightning current into the earth (using an earth-termination system).
Main protection measures against injury to living beings due to touch
and step voltages are intended to :
- Reduce the
dangerous current flowing through bodies by insulating exposed conductive
parts, and/or by increasing the surface soil resistivity.
- Reduce the
occurrence of dangerous touch and step voltages by physical restrictions
and/or warning notices
The type and location of an LPS should be carefully considered in the
initial design of a new structure, thereby enabling maximum advantage to be
taken of the electrically conductive parts of the structure. By doing so,
design and construction of an integrated installation is made easier, the
overall aesthetic aspects can be improved, and the effectiveness of the LPS can
be increased at minimum cost and effort
Access to the ground and the proper use of foundation steelwork for the
purpose of forming an effective earth termination may well be impossible once
construction work on a site has commenced. Therefore, soil resistivity
and the nature of the earth should be considered at the earliest possible stage
of a project. This information is fundamental to the design of the
earth-termination system and influence the foundation design work for the
structure.
Regular consultation between LPS designers and installers, architects and
builders is essential in order to achieve the best result at minimum cost.
If lightning protection is to be added to an existing structure, every effort
should be made to ensure that it conforms to the principles of the
standard. The design of the type and location of an LPS should take into
account the features of the exiting structure.
Product Range
Even small over voltages can disable sensitive electronic equipment,
computer networks and computer-controlled production systems in fractions of a
second. For protection against over voltages which can result from lightning or
switching processes in electrical supply networks, OBO offers a wide range of
surge and lightning arresters for the German and international markets. These
include not only devices to protect AC networks of various voltage levels, but
also special systems for data lines and telecommunication devices, and
protective modules for process measurement and control systems.
Electrical and electronic systems are subject to damage from the
Lightning Electro Magnetic Impulse (LEMP). Therefore LEMP protection
measures need to be provided to avoid failure of internal systems.
Protection LEMP is based on the Lightning Protection Zone (LPZ)
concept: the volume containing systems to be protected shall be divided
into LPZ. These zones are theoretically assigned volumes of space where
the LEMP severity is compatible with the withstand level of the internal
systems enclosed. Successive zones are characterized by significant
changes in the LEMP severity. The boundary of an LPZ is defined by the
protection measures employed.
Design of an LPMS (Lightning Protection Measures System)
LPMS can be designed for protection of equipment against surges and
electromagnetic fields.
- an LPMS
employing spatial shields and "coordinated SPD protection" will
protect against radiated magnetic fields and against conducted
surges. Cascaded spatial shields and coordinated SPDs can reduce
magnetic field and surges to lower threat level
- an LPMS
employing a spatial shield of LPZ 1 and an SPD at the entry of LPZ 1 can
protect apparatus against the radiated magnetic field and against
conducted surges
Note 1 The protection would not be sufficient, if the magnetic field
remains too high (due to low shielding effectiveness of LPZ 1) or if the surge
magnitude remains too high (due to high voltage protection level of the SPD and
due to the induction effects onto wiring downstreams of the SPD)
- An LPMS
created using shielded lines, combined with shielded equipment enclosures,
will protect against radiated magnetic fields. The SPD at the entry
of LPZ 1 will provide protection against conducted surges. to
achieve a lower threat surge level, a special SPD may be required (e.g.
additional coordinated stages inside) to reach a sufficient low voltage
protection level)
An LPMS created using a system of "coordinated SPD
protection", is only suitable to protect equipment which is insensitive to
radiated magnetic fields, since the SPDs will only provide protection against
conducted surges. a lower threat surge level can be achieved using SPDs.
Services
Site Survey, Recommendation, Selection, Installation and Commissioning
support of Both External and Internal Lightning and Surge Protection Systems.
As this is a new concept getting popularized in India, they conduct many
presentations, Seminars, Participating in Exhibitions, writing articles in
leading electrical, Telecom, and Instrumentation Magazines, Also Involving
Advertisement on various Applications.
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 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.39.65 |
|
UK Pound |
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.57.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
|