MIRA
INFORM REPORT
|
Report Date : |
28.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CELETRONIX INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
TANDON TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
17th Floor, Nirmal Building, Nariman Point, Mumbai –
400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
20.01.1998 |
|
|
|
|
Com. Reg. No.: |
113090 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U30007MH1998PTC113090 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC06022C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCC3627J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer and Exporter of Head Stack and Sub Assemblies, Memory Modules / Voice Coil Assembly |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1622376 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
This is a successful venture of Tandons who are highly successful Non-Resident Indians. Settled in U.S.A. having multi-national operations. Available information indicates high financial responsibility of the company. Trade relations are fair. Financial position is good. Payment are usually correct and as per commitments. The company can be considered good for any normal business dealings. It can be considered as dealings a promising business partners in a medium to long run. |
LOCATIONS
|
Registered Office : |
17th Floor, Nirmal Building, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
Unit No. 9, SDF 1, Seepz, Andheri (East), Mumbai – 400 096, Maharashtra, India |
|
Tel. No.: |
91-22-6642 5606/ 2829 1919/ 2829 0577 |
|
Fax No.: |
91-22-2829 1176/ 2829 1746 |
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E-Mail : |
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|
Website : |
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|
Location : |
Leased |
|
|
|
|
Factory 1 : |
Unit No. 60, SDF – II, Seepz, Andheri (East), Mumbai – 400 096, Maharashtra |
|
Tel. No.: |
91-22-28291101/02/03/04/05 |
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Fax No.: |
91-22-28290242 |
|
Area : |
300000 sq. ft. |
|
Location : |
Leased |
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|
|
|
Factory 2 : |
Pondicherry |
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|
|
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Factory 3 : |
Chennai, Tamilnadu – MEPZ (Special Economic Zone) |
DIRECTORS
|
Name |
Mr. Manohar Lal
Tandon |
|
Designation |
Director |
|
Address |
37, Merry
Niketan, Mount Mary Road, Bandra (West), Mumbai – 400 050 |
|
Date of Birth |
24.06.1939 |
|
Qualification |
M. S. in
Electrical Engineering, MBA |
|
Experience |
44 Years |
|
Date of Joining |
20.01.1998 |
|
Last Employment |
Ultra Tek Devices
Private Limited |
|
Profiles :- |
Mr. M. L. Tandon,
with M. S. in Electrical Engineering from Purdue University USA and MBA from
University of Santa Clara, USA, till 1978 was associated with IBM and held
various managerial positions with IBM, USA as well as India and was
instrumental in generating exports to other international IBM locations. On
winding up of the operations by IBM in India, he preferred to remain in India
and started a unit in Seepz in 1978 for the purpose of manufacturing Ferrite
Recording Heads for Floppy Disk Drives. Subsequently, various units for
manufacturing of different products were established by Mr. M. L. Tandon,
amongst them were the two partnership firms namely Tancom Electronics
(Established in the year 1982) and Advance Technology Devices (Established in
the year 1986) for manufacture of Head Stack Assemblies (HAS), also known as
Winchester recording head. Booth these partnership firms were manufacturing
the same product and supplying it to the same customers. In order the
consolidate the HAS business in one unit and at the same time corporatism
its, the running business of these two partnership firms was sold to Tandon
Technology Private Limited (TTPL – Now known as CIPL), so as to face the
global competition effectively and gain
advantages of economies of scale Manny Tandon is a
pioneer in the electronic hardware exports from the Indian sub-continent.
Under his leadership, Tandon Magnetic, Tandon Motors and Golden Systems Inc.
have consistently ranked as the largest exporters of electronic hardware from
India. Manny has served Director of Golden Systems, Inc. since 1993, when he
was elected to Chairman of the Board. Since 1981, Manny has served as the
Chairman of Tandon Motors Private Limited and of Eastern Peripherals Private
Limited since 1982. From 1984 to 1993, Manny was the Managing Director of
Eastern Peripherals and Ultra Tek. From 1978 to 1988, he was the Chairman of
Tandon Magnetic. Prior to 1978, Manny held various managerial positions with
IBM, India and was instrumental in generating exports from India to all
international IBM locations. He has been the Chairman of the Electronics and
Computer Software Export Council (ESC) and the SantaCruz Electronics Export
Manufacturer’s Association (SEEMA) and has also served as the President of
the Federation of Indian EPZS Industries Association. |
|
|
|
|
Name |
Mr. Bupendra V.
Shah |
|
Designation |
Whole Time
Director |
|
Address |
26, B/31,
Takshila Mahakali Caves Road, Andheri (East), Mumbai – 400 093 |
|
Date of Birth |
03.03.1940 |
|
Qualification |
B. Com., F. C. A. |
|
Experience |
39 Years |
|
Date of Joining |
25.08.1998 |
|
Last Employment |
Reliable
Consultancy Services Private Limited |
|
|
|
|
Name |
Mr. Manek Lal K.
Shah |
|
Designation |
Director |
|
Address |
3, Shanti
Niketan, 218, Dixit Road, Vile Parle (East), Mumbai – 400 057 |
|
Date of Birth |
11.03.1933 |
|
Qualification |
B. Com., F. C. A. |
|
Experience |
40 Years |
|
Date of Joining |
18.04.2001 |
|
|
|
|
Name |
Mr. Jawaharlal Tandon
(American) |
|
Designation |
Director |
|
Address |
22750, La Quilla
DR., Chatsworth, California – 91311 |
|
Date of Birth |
28.10.1949 |
|
Date of Joining |
24.12.2002 |
|
Profile |
Jay Tandon served
as Chairman and Chief Executive Officer of Golden Systems, which he founded
in 1985. Subsequently renamed Cortech Systems, the Company designed,
manufactured and marketed switch mode power supplies. Mr. Tandon also founded
and served as CEO and President of Tandon associates from December 1978 to
July 1993 as well as Tantec, Inc. from March 1992 to August 1993. Both
companies are involved in the manufacture and sale of components for the disk
drive industry. Prior to founding the above-mentioned companies, Jay served
in various capacities at Intel, Memorex and Amdahl. Jay graduated from the
University of Santa Clara with a Bachelor of Science in Electrical
Engineering. |
|
|
|
|
Name |
Mr. Bomy F.
Dabhoiwala |
|
Designation |
Director |
|
Address |
14-B, Carter
Road, Bandra, Mumbai – 400 050 |
|
Date of Birth |
02.12.1943 |
|
Date of Joining |
29.05.2001 |
|
|
|
|
Name |
Mr. Meheryar
Kailashushrad Dastoor |
|
Designation |
Additional
director |
|
Address |
1918, Lago Vista Building,
Palm Harbor Florida , US |
|
Date of Birth |
20.10.1965 |
|
Date of Joining |
31.03.2006 |
|
|
|
|
Name |
Mr. Gyan Mishra |
|
Designation |
Director (Head of
Finance India Operations) |
|
|
|
|
Name |
Mr. U B Nerukar |
|
Address: |
Flat No.B24, Maker
Kundan Garden, Juhu Road, Juhu, Mumbai – 400049, India |
|
Designation |
Nominee Director
- IDBI |
|
Date of Joining |
19.09.2003 |
|
|
|
|
Name |
Mr. Forbes lan
James Alexander |
|
Designation |
Additional
director |
|
Address: |
1604 Country Trails
Drive, Safety Harbour, US |
|
Date of Birth |
22.09.1960 |
|
Date of Joining |
31.03.2006 |
|
|
|
|
Name |
Mr. William
Dennis Muir Jr |
|
Designation |
Additional
Director |
|
Address: |
6202, Pasadena Pt
Blvd. Gulfport, Florida, US |
|
Date of Birth |
23.09.1968 |
|
Date of Joining |
31.03.2006 |
|
|
|
|
Name |
Mr. Steven Allan
Hodge |
|
Designation |
Director |
|
Address: |
30 Firs Road,
Over Hulton Bolton BL51EZ, Kingdom |
|
Date of Birth |
25.11.1966 |
|
Date of Joining |
31.03.2006 |
|
|
|
|
Other Directorship Companies: |
Celetronix Power
India Private Limited Additional
Director U32109MH1985PTC037094 Celebit
Technology Private Limited Additional
Director U30007MH2001PTC134224 Jabil Circuit
India Private Limited Director U32109MH2002PTC136997 |
KEY EXECUTIVES
|
Name |
Mr. Umesh Thawani |
|
Designation |
Company Secretary |
|
Address : |
D- 19, 2nd
Floor, Prem Nagar Society, Kopri Colony, Thane (East) – 400603, Maharshtra,
India |
|
Date of Birth |
23.10.1975 |
|
Date of Joining |
15.09.2004 |
|
|
|
|
Name |
Mr. Vikram Chopra |
|
Designation |
Account Manager |
|
|
|
|
Name |
Mr. Jim Schultz |
|
Designation |
Vice President,
EOS Power Division |
|
|
|
|
Name |
Mr. Harish Grover |
|
Designation |
Vice President,
Memory Divison |
|
|
|
|
Name |
Mr. Sandro Aquilina |
|
Designation |
Vice President,
Set Top Box Division |
|
|
|
|
Name |
Mr. Krishan
(Kris) Batta |
|
Designation |
Chief Operating
officer |
|
|
|
|
Name |
Mr. Harol J.
Earley |
|
Designation |
Chief Financial
Officer |
|
Profile |
Harold Earley is
a CPA with over 17 years experience and joined Celetronix as the Chief Financial
Officer in May 2002. Prior to joining Celetronix, Harold was the Senior
Vice-President of Finance for Amkor Technology Inc, a world leader in
semiconductor packaging and testing. In his role with Amkor Technology,
Harold was responsible for the worldwide financial operations and dealt
extensively in M&A and capital market activities. He was also an integral
part of Amkor’s IPO in 1997 and subsequent raising of more than $3 billion in
public and private equity and debt. Harold is experienced in dealing with
international operations, tax, and accounting issues. From 1992 to 1997
Harold was a partner in the accounting firm Siana Carr & O’Connor
focusing on technology companies, and between 1985 and 1992. Harold worked
for the international accounting firm KPMG. Mr. Earley holds a Bachelor of
Science in Business Administration/Accounting from Drexel University. |
|
|
|
|
Name |
Mr. Hasib Khan |
|
Designation |
Vice President,
Customer Accounts |
|
Profile |
Hasib Khan has 28
years of manufacturing, sales and customer support experience with companies
such as Astrologic, Space labs, the Tandon Corporation and Tandon Associates.
Hasib’s experience relates to the electronic parts supply to the Bio-medical
industry, with geographical expertise in East and South-East Asia. Hasib also
draws on a wealth of experience in material flow and logistics for JIT
deliveries to manufacturing plants and for finished products to customer
sites. Hasib earned his Bachelor of Science in Electrical Engineering from
the Northrop Institute of Technology. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ms. Veena Kumari Tandon |
|
80 |
|
Mr. Sudeep Tandon |
|
60 |
|
M L Tandon & Sons (HUF) |
|
20 |
|
Mr. Jaideep Tandon |
|
20 |
|
Mr. Sudeep Tandon |
|
20 |
|
Celetronix
Mauritius Limited |
|
29952000 |
|
|
|
|
|
Total |
|
29952200 |
|
|
|
|
|
Preference Shareholders |
|
|
|
JT Holdings
Private Limited |
|
1,499,900 |
|
Ms. Veena Kumari
Tandon |
|
1,750,000 |
|
JT Holdings
Private Limited |
|
100 |
|
|
|
|
|
|
|
|
|
Category |
|
Percentage |
|
|
|
|
|
Foreign Holding
(FIIs, FCs, FFIs, NRIs, or OCB or Others) |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Head Stack and Sub Assemblies, Memory Modules / Voice Coil Assembly |
|
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Products : |
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Exports : |
|
|
Products : |
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Countries : |
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Imports : |
|
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Products : |
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Countries : |
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Terms : |
|
|
Selling : |
Credit (60 days) terms |
|
|
|
|
Purchasing : |
Cash or Credit (30 days) terms |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Head Stock & Sub Assemblers |
Nos. |
10500000 |
5103970 |
|
Smart Card Coils |
Nos. |
12000000 |
1398558 |
|
Voice Coils for others |
Nos. |
18000000 |
10977242 |
|
Memory Modules & other SMT
Products:- |
Nos. |
NA |
1812531 |
|
Total (Equivalent SMT Components) |
Nos. |
80631600 |
227419173 |
|
Other EMS Products |
Nos. |
25280700 |
14804167 |
GENERAL
INFORMATION
|
Customers : |
·
Wholesalers ·
OEM’s ·
Western
Digital Corporation ·
Celetronix
International Limited ·
Celebit
Technology Private Limited ·
Celetronix Lanka Private Limited ·
Celetronix Singapore Private Limited ·
Celetronix (Europe) Limited ·
Celetronix USA Inc. ·
Celetronix Power India Private Limited ·
Celetronix Malaysia Sdn. Bhd. ·
Memory 2 Memory Singapore Private Limited |
|
|
|
|
No. of Employees : |
4,123 |
|
|
|
|
Bankers : |
Seepz Branch, Andheri (East),
Mumbai – 400 096, Maharashtra
Overseas Branch, 121, Mittal Court,
‘C’ Wing, Nariman Point, Mumbai – 400 001, Maharashtra
Overseas Branch, Nariman Point,
Mumbai – 400 021, Maharshtra, India |
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants (Contact Person – Mr. Neeraj Gupta) |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park Dadar, Mumbai – 400 028, Maharashtra, India |
|
|
|
|
Holding Company : |
|
|
|
|
|
Subsidiary : |
|
|
|
|
|
Associates : |
Unit # 72, Seepz Sez, Andheri (East), Mumbai – 400 096, Maharashtra, India --Manufacturer and Exporter of SMPS units
10-06 Parkway Parade, Singapore – 449269 Tel. No. : 65841-3201 Fax : 65-348-1577
Unit 30-Greenlands Business Centre Studey Road, Redditch, B98 7HD, United Kingdom. Tel. No. : 9482234567 Fax. No. : 9482420221
Tel. No. : 353-21-480-6626 Fax. No. : 353-21-480-6627
2125-B Madera Road, Simi Valley, CA-93065 Tel. No. : 1805-955-3600 Fax. No. : 1805-582-4431
303 Twin Dolphin Dr., 6th Floor, Redwood City, CA – 94065 Tel. No. : 650-632-4652 Fax. No. : 650-377-4141
33, Jalan PJS, 11/24 Banar Sunway, 46150 Petaling Jaya, Selango Darul, Ehsan, Malaysia Tel. No. : 603-5632-4607 Fax. No. : 603-5632-4503
Kandy Industrial Park, Pallekelle, Sri Lanka – 096 Tel. No. : 91-22-28291919 Fax. No. : 91-22-28291746
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000,000 |
Equity Shares |
Rs.10/- each |
300.000 millions |
|
3300000 |
1% of Redeemable
Preference Share |
Rs. 100/- each |
330.000 millions |
|
|
|
|
|
|
|
Total |
|
630.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29952200 |
Equity Shares |
Rs.10/- each |
299.522 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
299.522 |
299.522 |
624.522 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
325.327 |
779.411 |
652.234 |
|
|
4] (Accumulated Losses) |
(219.255) |
0.000 |
0.000 |
|
|
NETWORTH |
405.594 |
1078.933 |
1276.756 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.225 |
129.257 |
128.598 |
|
|
2] Unsecured Loans |
0.000 |
158.278 |
165.996 |
|
|
TOTAL BORROWING |
0.225 |
287.535 |
294.594 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
71.554 |
|
|
|
|
|
|
|
|
TOTAL |
405.819 |
1366.468 |
1642.904 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
398.993 |
471.897 |
788.043 |
|
|
Capital work-in-progress |
11.907 |
0.000 |
61.219 |
|
|
|
|
|
|
|
|
INVESTMENT |
15.050 |
15.140 |
15.150 |
|
|
DEFERREX TAX ASSETS |
0.000 |
25.705 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1674.509
|
839.378 |
777.394 |
|
|
Sundry Debtors |
1649.171
|
3143.694 |
4683.548 |
|
|
Cash & Bank Balances |
287.601
|
128.698 |
115.753 |
|
|
Other Current Assets |
0.791
|
3.181 |
12.757 |
|
|
Loans & Advances |
72.210
|
65.145 |
55.817 |
|
Total
Current Assets |
3684.282
|
4180.096 |
5645.269 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3645.941
|
3305.274 |
4799.459 |
|
|
Provisions |
58.472
|
21.096 |
67.318 |
|
Total
Current Liabilities |
3704.413
|
3326.370 |
4866.777 |
|
|
Net Current Assets |
(20.131)
|
853.726 |
778.492 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
405.819 |
1366.468 |
1642.904 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
7657.422 |
7319.714 |
8018.645 |
|
|
Other Income |
0.00 |
0.000 |
0.000 |
|
|
Total Income |
7657.422 |
7319.714 |
8018.645 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
(625.966) |
229.504 |
219.999 |
|
|
Provision for Taxation |
0.000 |
0.000 |
127.357 |
|
|
Profit/(Loss) After Tax |
(625.966) |
229.504 |
92.642 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interests |
53.804 |
36.865 |
0.000 |
|
|
Depreciation & Amortization |
167.304 |
163.114 |
0.000 |
|
|
Other Expenditure |
8062.280 |
6890.231 |
7798.646 |
|
Total Expenditure |
8283.388 |
7090.210 |
7798.646 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
(8.17)
|
3.13 |
1.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.17)
|
3.13 |
2.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.33)
|
4.93 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.54)
|
0.21 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.13
|
3.35 |
4.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
1.26 |
1.15 |
ABRIDGED BALANCE SHEET
(Celebit Technology Private Limited)
|
SOURCES OF FUNDS |
|
31.03.2004 |
31.03.2003 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
2] Reserves &
Surplus |
|
0.936 |
0.342 |
|
NETWORTH |
|
1.036 |
0.442 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
2] Unsecured
Loans |
|
0.000 |
0.000 |
|
TOTAL
BORROWING |
|
0.000 |
0.000 |
|
DEFERRED TAX LIABILITIES |
|
0.009 |
0.000 |
|
|
|
|
|
|
TOTAL |
|
1.045 |
0.442 |
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net
Block] |
|
0.062 |
0.009 |
|
Capital
work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
INVESTMENTS |
|
0.000 |
0.000 |
|
DEFERREX TAX ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
Sundry Debtors |
|
4.660 |
3.567 |
|
Cash & Bank Balances |
|
0.235 |
0.107 |
|
Other Current Assets |
|
0.000 |
0.000 |
|
Loans & Advances |
|
0.087 |
0.010 |
|
Total Current
Assets |
|
4.982 |
3.684 |
|
Less : |
|
|
|
|
Current Liabilities |
|
3.761 |
3.022 |
|
Provisions |
|
0.252 |
0.250 |
|
Total Current Liabilities |
|
4.013 |
3.272 |
|
Net Current Assets |
|
0.969 |
0.412 |
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
|
0.014 |
0.021 |
|
|
|
|
|
|
TOTAL |
|
1.045 |
0.442 |
PROFIT & LOSS ACCOUNT
(Celebit
Technology Private Limited)
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
|
Sales Turnover |
|
5.303 |
3.636 |
|
[including other income] |
|
|
|
|
Profit/(Loss) Before Tax |
|
0.998 |
0.616 |
|
Provision for Taxation |
|
0.404 |
0.250 |
|
Profit/(Loss) After Tax |
|
0.594 |
0.366 |
|
|
|
|
|
|
Total Expenditure |
|
4.297 |
3.020 |
KEY RATIOS
(Celebit Technology Private Limited)
|
PARTICULARS |
|
|
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
|
11.20 |
10.06 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
18.81 |
16.94 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
19.78 |
16.68 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.96 |
1.39 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
3.87 |
7.40 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
1.24 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Name of the company |
CELETRONIX INDIA PRIVATE LIMITED |
|
Presented By |
Mr. Umesh
Thawani, Company Secretary |
|
1) Date and description of instrument creating the change |
Unattested Deed
of Hypothecation dated 17th March 2005 executed by the company in
favour of IL and FS Education and Technology Services Limited (IETS).
Certified True Copy of the said Deed of Hypothecation is enclosed. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.17.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charges in
respect of the Movable componets in the from of Trident TV Tuners and Toshiba
Projectors forming part of compact Multimedia Centre (CMC), both present and
future purchased and /or to be purchased by the company which is/are lying or
stored in or about all the company factories, Officers, premises and godowns
or wherever the same may be or be held by the company or in the course of
transit or on high seas or otherwise in possession or control or belonging to
the company either by way of subsititution or addition, all of which are
hereinafter referred to as “the hypothecated goods” as per statement of work
No.Celetronix 002 dated December 20, 2004. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The charges
operates as a security for the due repayments by the company of the financial
assiatance given by IETS for Rs.17.000 Millions The security
created under the said Deed of Hypothecation shall be a continuing security. |
|
5) Name and Address and description of the person entitled to the charge. |
IL and FS
Education and Technology Services Limited IL and FS
Financial Centre, 3rd Floor, Quadrant ‘D’Plot No. C-22, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, India |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Na |
Profile
Electronic Manufacturing Service (EMS) provider, subject has been delivering solutions to the needs of their OEM customers. For the past two decades, subject has lived by one promise – provide value to customers in all aspects of their business by maintaining a focus on cost, quality and flexibility.
By leveraging its ISO 9001 certified global facilities, it enable customers in emerging technology markets to focus on their core competency of technology development and marketing while it supports the entire product lifecycle – from design to after – market services.
Realizing the significant cost and quality advantages of South Asia based manufacturing operations, subject partners with customers to deliver manufacturing solutions that involve High Touch, High Engineering and High Technology content. Subject Indian sub-continent based manufacturing operations offer some critical advantages: areas of expertise include a number of patented technologies developed at subject. These focus areas include the following:
- India offers access to an educated English speaking workforce.
- The most competitive labour wages in the world.
- Abundant and affordable engineering talent from world-class institute.
It is in trade terms with:-
v
Celetronix International Limited
v Celetronix USA Inc.
v Celetronix Lanka Private Limited
v Celetronix Malaysia Sdn. Bhd.
v Celetronix Singapore Private Limited
v Celetronix (Europe) Limited
v GPS Sales and Services Private Limited
v Eastern Peripherals Private Limited
v Tandon Motors Private Limited
v Golden Computers Private Limited
v Memory Electronics Private Limited
v Tandon Computers (India) Private Limited
v Pentax Engineering Private Limited
v Memory 2 Memory Singapore Private Limited
v Celetronix Power India Private Limited
Fixed assets
- Building
- Plant and Machinery,
- Furniture and Fixtures,
- Office Equipments
- Vehicles.
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.39.73 |
|
UK Pound |
1 |
Rs.78.96 |
|
Euro |
1 |
Rs.59.60 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|