MIRA
INFORM REPORT
|
Report Date : |
14.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALBA URMET COMMUNICATION AND SECURITY PRIVATE LIMITED |
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Registered Office : |
20/6, Rajpur Road, Civil
Lines, Delhi – 110 054 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.11.2002 |
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Com. Reg. No.: |
55-142420 |
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CIN No.: [Company
Identification No.] |
U32204DL2002PTC142420 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKA04050E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of all kinds of Video, Audio house phones, Electronic and
Optical Devices |
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 |
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Maximum Credit Limit : |
USD 96000 |
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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 an established Indo – Italian Joint Venture having fine
track records. Trade relations are
fair. Financial position is
good. Payments are correct and as per
commitments. The Company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office |
20/6, Rajpur Road, Civil
Lines, Delhi – 110 054 |
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E-Mail : |
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Website : |
http://www.albaurmet.com |
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Corporate Office: |
295, Udyog Vihar Phase IV, Gurgaon 122001, Haryana, India |
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Tel. No.: |
91-124-4300630 |
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Fax No.: |
91-124-4300635 |
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Factory : |
275, Udyog Vihar, Phase IV, Gurgaon 122001, Haryana, India |
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Tel. No.: |
91-124-4300630 |
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Fax No.: |
91-124-4300635 |
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E-Mail : |
sanjeev@albasystems.com ,
info@albaurmet.com , support@albaurmet.com |
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Website : |
DIRECTORS
|
Name : |
Mr. Sanjeev Bajaj |
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Designation : |
Managing Director |
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Address : |
D-3/11, DLF City, Phase I, Gurgaon 122002, Haryana, India |
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Date of Birth/Age : |
05.04.1968 |
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Date of Appointment : |
01.12.2005 |
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Name : |
Mr. Vinit Bajaj |
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Designation : |
Director |
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Address : |
D-3/11, DLF City, Phase I, Gurgaon 122002, Haryana, India |
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Date of Birth/Age : |
16.10.1971 |
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Date of Appointment : |
30.03.2007 |
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Name : |
Mr. Rajeev Bajaj |
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Designation : |
Director |
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Address : |
20/6, Rajpur Road, Civil Lines, Delhi 110054, India |
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Date of Appointment : |
10.11.2002 |
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Name : |
Mr. Ferruccio Cometto |
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Designation : |
Director |
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Address : |
Cometto Ferruccio 8/6, V Valle Balbiana 10025, Pino Torinese, Italy |
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Date of Appointment : |
10.11.2002 |
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Name : |
Mr. Paolo Zunino |
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Designation : |
Director |
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Address : |
Via Nizza 82/1, 17100 Savona [SV], Italy |
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Date of Appointment : |
10.11.2002 |
KEY EXECUTIVES
|
Name : |
Mr. Nityanand Singh and Company |
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Designation : |
Company Secretary |
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Address : |
14, 2nd Floor, Arjun Nagar, Safdarjung Enclave, New Delhi –
110 029, India |
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Tel. No.: |
91-11-267 13700 |
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Fax No.: |
91-11-26714700 |
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E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Alba Urmet Communication and Security Private Limited |
|
5000 |
|
S. K. Bajaj |
|
5000 |
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Equity Share
Break-up |
|
Percentage of
Holding |
|
Foreign Holdings |
|
50.00 |
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Bodies Corporate |
|
50.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all kinds of Video, Audio house phones, Electronic and
Optical Devices |
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|
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Products : |
Ř Home and
Building Systems Ř Security Systems Ř Gate Automation
Systems |
GENERAL
INFORMATION
|
Customers : |
Ř
Apeejay Park group of Hotels Ř
Infinity Tower, DLF Ř
Assotech Windsor Park, indirpuram Ř
Integral Construction, Chennai Ř
Aralias,DLF Ř
Indira Foundation, Chennai Ř
Beverly Park l, DLF Ř
Kishore Kumar Gokul Das, Bangalore Ř
Brigade Group, Bangalore Ř
Lifestyle international Ř
Centre Court, DLF Ř
Maga Mall, DLF Ř
City Centre Mall, DLF Ř
Mantri Altius, Bangalore Ř
Canopy Builders, Bangalore Ř
Nirvana Country, Unitech Ř
Ceebros Builders & Developers, Chennai Ř
Niho Scotish, Gurgaon Ř
Cyber Green, DLF Ř
Orchid Greens, Vipul Ř
DLF Square Ř
Orchid Gardens,Vipul Ř
Eros Grand Mansions, Gurgaon Ř
Omaxe Designer Villas, Gurgaon Ř
Fortune Builders, Bangalore Ř
Richmond Park, DLF Ř
Gateway Tower, DLF Ř
Royal Builders, Bangalore Ř
Grand Mall,DLF Ř
South City Heights, Unitech Ř
Hamilton Court, DLF Ř
Tanishq Titan Industries Ř
Heritage City,Unitech Ř
Uniworld Gardens, Unitech Ř
ITC Group of Hotels Ř
Marine Plaza - Cochin Ř
Silver Crest - Cochin Ř
Noel Signature - Cochin |
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No. of Employees : |
60 |
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Bankers : |
Citi Bank |
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Banking Relations
: |
--- |
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Auditors : |
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Name : |
S. P. Nagrath and Company Chartered Accountants |
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Address : |
A-380, Defence Colony, New Delhi 110024, India |
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Associates/Subsidiaries
: |
· Alba Control Systems Limited · Alba Softech Private Limited · Urmet Doumus International SA |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs. 10/- each |
Rs. 12.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
848000 |
Equity Shares |
Rs. 10/-
each |
Rs. 8.480
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
|
8.480 |
8.480 |
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|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
15.503 |
15.499 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
23.983 |
23.979 |
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|
LOAN FUNDS |
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|
|
|
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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|
TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.035 |
0.244 |
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TOTAL |
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24.018 |
24.223 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
4.026 |
5.146 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
10.608 |
4.954 |
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Sundry Debtors |
|
12.493 |
2.954 |
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Cash & Bank Balances |
|
4.903 |
11.942 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
1.390 |
1.912 |
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Total
Current Assets |
|
29.394 |
21.762 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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|
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Current Liabilities |
|
9.321 |
2.993 |
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Provisions |
|
0.339 |
0.039 |
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Total
Current Liabilities |
|
9.660 |
3.032 |
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Net Current Assets |
|
19.734 |
18.730 |
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MISCELLANEOUS EXPENSES |
|
0.258 |
0.347 |
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TOTAL |
|
24.018 |
24.223 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
39.624 |
3.038 |
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Other Income |
|
0.517 |
0.916 |
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Total Income |
|
40.141 |
3.954 |
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Profit/(Loss) Before Tax |
|
0.054 |
0.413 |
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Provision for Taxation |
|
0.050 |
0.283 |
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Profit/(Loss) After Tax |
|
0.004 |
0.130 |
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Export Value |
|
NA |
19.609 |
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Import Value |
|
NA |
2.682 |
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Expenditures : |
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Financial Charges |
|
0.077 |
0.012 |
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Depreciation |
|
1.278 |
0.112 |
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Other Expenditure |
|
37.377 |
3.293 |
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Total Expenditure |
|
38.732 |
3.417 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
0.00 |
3.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.13 |
13.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.16 |
1.53 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
0.40 |
0.12 |
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Current Ratio (Current Asset/Current Liability) |
|
|
3.04 |
7.17 |
LOCAL AGENCY
FURTHER INFORMATION
OTHER INFORMATION:
The company was incorporated on November 10, 2005 and commenced
commercial production on February 28, 2006.
The company is an Indo – Italian joint Venture between Urmet Domus International
SA, Luxemburg and Alba Group, Delhi – 1150 054, the company is engaged in the
business of import, manufacture , assembling of all kind of video and audio
house phones, telephones security and home automation products .
AS PER WEBSITE
DETAILS:
Profile:
Subject is a leading manufacturing company produces electronic security
equipment in India since 1989. The company was the first one to introduce Audio
and Video door phones in India. The professional approach in designing Systems
towards optimal application backed by customer support and competitive pricing
without any compromise in quality has been the driving factors behind their
accomplishments.
The company home and building Systems division is
the natural evolution in the story of-Urmet Domus, The leading
Italian company specialized in domestic communication. A success story that is
supported by these figures: 68 years of successful business operations, Group
owning more than 30 company’s world over, Group Turnover of more than 520
Million Euro as in year 2006, having a specialized edge over Video Phone
Systems with first system being introduced in 1967 and more than 28 million
Systems installed world-wide from Latin America to Far East.
Under
the latest developments in the year 2003 Aprimatic became part of
the company Group. Aprimatic has been successfully involved since 1985 in
production of Gate Automation Systems in Italy. This merger compliments the
home and building solution range of the company Group.
Subject is Indo-Italian Joint Venture incorporated in year 2005; bring
to you together the “Innovative Home Security Products and Systems To Make The
Life Simpler and Safer”
Today
the company is characterized by
a common desire to conceive and construct Systems designed for buildings from
an entirely global point of view: homes, private and public offices,
industries, stations, hotels, airports and shopping centers. The strategic tie
up with the leading companies in their respective sectors of competence, able
to provide easy-to-use products and Systems offering reliability and quality.
Companies
which, taken together, form a single and large design complex. Because the
company divisions (Home and Building Systems, Security Systems, Integrated
Security Systems and Gate Automation Systems) are not divided into isolated
compartments but constantly collaborate in the development of common added
value.
Home and building
Systems
Systems for Door Phones, Video Door Phones, Integrated Digital Systems, Telephones and Environmental Control.
Security Systems
CCTV Surveillance Systems and Intrusion detection and Monitoring Systems
Gate Automation
Systems
Parking/Traffic Barriers, Automation for Sliding Gates, Swing Gates, Rolling Shutters, Windows and Automation for sliding Glass Doors.
PRODUCTS
Home and Building Systems
The range of video door phones and door phones is now one of the most complete on the market. With original characteristics in terms of both appearance and technology. With a view to increasingly strong integration with digital Systems, expanding up-to building communication formats. Their products offer ideal Systems including home and building automation Systems for any kind of installation and any environment. With a common denominator that goes beyond appearance and technology, wrapped up in a single word: Simplicity
Security Systems
Increased security level with private dwellings and public area real time environmental monitoring is a constantly felt need. Their CCTV surveillance, Digital video recorders and management Systems are available to satisfy any requirement offering total security. Together combined with innovative wired and wireless Intrusion alarm Systems add to the advantages: Flexibility, easy installation and reliability.
Gate Automation Systems
Aprimatic successfully involved since 1985 in automatic opening and closing sector became part of the company group in the year 2003. Always focused on improving quality of life cycles today Aprimatic offers a complete range of Hydraulic and electromechanical Gate automation devices. The range offered for the security Systems in India includes traffic and parking barriers, automatic swing gate and sliding gate mechanisms, rolling shutter motors, window automation and automation for sliding glass doors. Quick to install, excellent value, guaranteed delivery and technical support. Indeed it is a choice of professionals.
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.39.28 |
|
UK Pound |
1 |
Rs.77.02 |
|
Euro |
1 |
Rs.58.16 |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
54 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|