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MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CIRCUIT SYSTEMS (INDIA) LIMITED |
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Registered Office : |
B – 24, GIDC, Electronic Estate, Sector – 25, Gandhinagar- 382 044,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.02.1995 |
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Com. Reg. No.: |
04-24524 |
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CIN No.: [Company
Identification No.] |
U74140GJ1995PLC024524 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMC01381C |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Single Side, Double Side and
Multilayer PCBs upto 12 Layers. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 950000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments
are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions Management remained non–co-operative during current investigation. |
LOCATIONS
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Registered Office/ Corporate Office: |
B – 24, GIDC, Electronic Estate, Sector – 25, Gandhinagar- 382 044,
Gujarat, India |
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Tel. No.: |
91-79-23242781 / 23222061 / 23238061 / 23224487 / 23287086 / 87 / 88 |
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Fax No.: |
91-79-23242784 / 23224489 / 23287089 |
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E-Mail : |
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Website : |
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Factory : |
B-14, Nildeep Apartments, Opposite Milan Park, Near Ashima
Tower, Vastrapur, Ahmedabad – 380 015, Gujarat, INDIA. |
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Tel. No.: |
91-79-23222061 /23238061/23224487 |
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Fax No.: |
91-79-23224489 |
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E-Mail : |
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Websites : |
DIRECTORS
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Name : |
Mr. Sharad R Shah |
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Designation : |
Director |
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Address : |
F -2, Harihar Flats Plot No. 746, Sector 22, Gandhinagar - 382 022,
Gujarat, India |
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Date of Birth/Age : |
19.10.1956 |
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Date of Appointment : |
01.04.2006 |
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Profile : |
He is 50 years, is a whole time director of the company. He is looking after all technical and administrative matters of the company. He carries an experience of 20 years in PCB industry. He has done his BE (Mech.) and thereafter obtained degree of M. Tech from IIT Mumbai. He started his carriers an industrial engineer with one of the leading pipe manufacturing company. He had also an opportunity to work as an in charge of EDP division of a large industrial house and as a plant in charge and worked at senior position looking after technical, administrative, procurement and overall management of the company. |
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Name : |
Mr. Anilkumar T. Patel |
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Designation : |
Chairman & Managing Director |
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Address : |
3, Adarsh Society, State Highway, Mehsana – 384 002, Gujarat, India |
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Date of Birth/Age : |
08.03.1944 |
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Date of Appointment : |
08.02.1995 |
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Name : |
Mr. Paresh H. Vasani |
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Designation : |
Managing Director |
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Address : |
167, Azad Society, Ambawadi, Ahmedabad – 380 015,Gujarat , India |
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Date of Birth/Age : |
06.07.1967 |
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Qualification : |
Computer Engineering from University of Texas, Austin –U.S.A. |
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Date of Appointment : |
08.02.1995 |
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E- Mail : |
paresh@mycsil.com |
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Name : |
Mr. Maganbhai H. Patel NRI (US) |
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Designation : |
Chairman cum Director |
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Address : |
3090, Landewenr Road, Northorook, IL – 60062, U.S.A. |
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Date of Birth/Age : |
01.05.1946 |
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Date of Appointment : |
20.08.1998 |
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Profile : |
He is 60, Chairman and promoter of the company has an experience of 25 years in the PCB business. After graduation, he has obtained a degree in industrial engineering from USA. He worked with various organizations from 1975 to 1983. From 1983 to 1998 he has worked as vice president and president of Circuit System Inc. USA. He co-founded the company Circuit Systems (India) Limited with other promoters in the year 1995 and since then he is guiding force in Circuit Systems (India) Limited. |
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Name : |
Mr. Paras Mehta |
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Designation : |
Additional Director cum Company Secretary |
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Address : |
H -25/124-,Happy Home Apartment , Ankur – Ranna Park Road, Shashtri
Nagar, Naranpura , Ahmedabad – 380 013, Gujarat, India |
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Date of Appointment : |
05.12.2005 |
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Profile : |
He is 40, Managing Director and promoter of the company carries experience of 15 years in various capacities. He obtained his engineering degree in the discipline of Electronics and Communication from L. D. College of Engineering, Gujarat University, and Ahmedabad and has done his M.S. (Computer Engineering) from University of Texas at Austin, USA. He had an opportunity of working with Intel Corporation USA as Senior Design Engineer from 1991 to 1994. He came back to India and set up the Circuit Systems (India) Limited with other promoters in 1995 and took the reign of management as Managing Director. Since then he is looking after day to day management of the company. |
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Tel No.: |
91-79-23242781 / 82/ 83 |
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E-mail: |
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Name : |
Mr. Nitin Kantilal Shah |
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Designation : |
Additional Director |
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Address : |
36-38 Empire Tower, Near Associated Petrol Pump C G Road, Ellis
Bridge, Ahmedabad – 380 006, Gujarat, India |
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Date of Appointment : |
05.12.2005 |
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Name : |
Mr. Iswarbhai Patel |
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Designation : |
Additional Director |
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Address : |
1404-1405 Rustomjee Regal Adarsh Dugdhalaya, off Marve Road, Malad
(West), Mumbai – 400 064, Maharashtra, India |
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Date of Appointment : |
05.12.2005 |
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Name : |
Mr. Ambalal Patel |
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Designation : |
Additional Director |
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Address : |
14 / B, Shryanshnath Society , Opposite Gunjan Apartment, B/ H
Dharnidhar Derasar, Vasna Ahmedabad – 380 007, Gujarat, India |
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Date of Appointment : |
05.12.2005 |
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Name : |
Mr. Anand Anilbhai Patel |
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Designation : |
Director |
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Address : |
10, Utsav Bungalow, Opposite T V Towers, Thaltej, Ahmedabad – 380 052,
Gujarat, India |
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Date of Birth/Age : |
20.06.1972 |
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Date of Appointment : |
15.11.2002 |
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Profile : |
He is 34, director and promoter of the company has an experience of 10 years in managing various businesses in the capacity of Director. He obtained a degree of Mechanical engineering from USA. At present, he is looking after overall management of various companies in the capacity of Director. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As on 29.07.2005) |
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No. of Shares |
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Mr. Anilkumar Patel |
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90090 |
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Mr. Ashok T Patel |
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180090 |
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Mr. Paresh Vasani |
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198090 |
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Ms. Kusum Patel |
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45000 |
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Apollo Industries And Project Limited |
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1798740 |
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Mr. Nathusingh Chavda |
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50000 |
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Mr. Anand Patel |
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180000 |
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Mr. Maganbhai Patel |
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4310280 |
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Mr. Gunwantbhai Patel |
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27000 |
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Mr. Arvind Bhai Patel |
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90000 |
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Mr. Satish M Patel |
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18000 |
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Ms. Manjula Patel |
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45000 |
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Mrs. Rashmi H Patel (Huf) |
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45000 |
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Mr. Maulik M Pastel |
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45000 |
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Mr. Manan M Patel |
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45000 |
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Ms. Smita Maheshwari |
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18000 |
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Others |
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19900 |
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Total
|
7205190 |
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Name of Allottee
(As on 14.02.2007) |
No. of Shares
Allotted |
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Mr. Maganbhai H Patel |
100000 |
Equity Share Breakup (Percentage of Total Equity) :- [As on 31.03.2007]
|
Category |
Percentage |
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Foreign Holdings (Foreign Institutional
Investor(s), Foreign Companie(s), Foreign Financial Institution(s), Non –Resident
Indian(s) Or Overseas Corporate Bodies Or Others |
60.00 |
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Bodies Corporate |
17.00 |
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Directors or relative of directors |
14.00 |
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Other top fifty (50) shareholders |
9.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Single Side, Double Side and
Multilayer PCBs upto 12 Layers. |
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Products : |
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Agencies Held : |
Gujarat Apollo Equipments Limited (This is a Joint Venture – between GIIC, Apollo Group and Barber Green Company of U.S.A.) |
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Exports : |
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Countries : |
U.S.A., Europe, Africa, Middle East and Singapore etc. |
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Imports : |
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Products : |
Raw Materials, Consumables, Stores, Capital Goods And
Other Items |
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Countries : |
Europe and U.S.A. |
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Terms : |
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Purchasing : |
L/C terms. |
GENERAL
INFORMATION
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No. of Employees : |
350 |
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Bankers : |
·
Corporation Bank
Limited, Address
1 : 2nd Floor P B No. 4097, Near Navragpura Post Office,
Navbragpura, Ahmedabad – 380 009, Gujarat, India Address 2 : Ifb
Branch, Rangoli Complex, Opposite V S Hospital, Ashram Road, Ahmedabad – 380
006, Gujarat, India ·
The Mehsana
Urban Co-Operative Bank Limited Address : Ahmedabad Branch, Gujarat, India ·
State Bank Of
India Address : Gandhinagar Branch, Gandhinagar, Gujarat, India ·
The Federal
Bank Limited Address : Ashram Road Branch, Ahmedabad –382 009, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Virendra Chinubhai and Company Chartered Accountants |
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Address : |
1-2-3, 1st Floor, Vyapar Bhawan, Visnagar – 384 315,
Gujarat, India |
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Holding Company : |
Gujarat Apollo Equipments Limited (This is a Joint Venture between GIIC, Apollo Group (not Apollo Tyres Group) and Barber Green Company of USA) |
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Associates/Subsidiaries : |
· Apollo Earthmovers Limited · Apollo Industrial Products · Vikas Steels Limited · Vikas Consultants Private Limited · Apollo Leasing and Investment Private Limited · Bhagirath Construction Company Private Limited |
CAPITAL STRUCTURE
(As on 31.03.2007)
:-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14000000 |
Equity Shares |
Rs. 10/- each |
Rs.140.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8255190 |
Equity Shares |
Rs. 10/- each |
Rs.82.552
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
82.552 |
72.052 |
72.052 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
106.469 |
65.061 |
69.035 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
189.021 |
137.113 |
141.087 |
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LOAN FUNDS |
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1] Secured Loans |
146.056 |
108.528 |
91.262 |
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2] Unsecured Loans |
57.121 |
49.322 |
48.690 |
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TOTAL BORROWING |
203.177 |
157.850 |
139.952 |
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DEFERRED TAX LIABILITIES |
27.551 |
25.816 |
13.445 |
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TOTAL |
419.749 |
320.779 |
294.484 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
199.607 |
183.812 |
176.685 |
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Capital work-in-progress |
49.702 |
0.000 |
0.000 |
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INVESTMENT |
10.536 |
10.537 |
10.535 |
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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 |
44.144
|
36.091 |
35.610 |
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Sundry Debtors |
147.465
|
107.351 |
97.481 |
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Cash & Bank Balances |
8.846
|
6.736 |
7.521 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
43.613
|
33.978 |
24.703 |
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Total
Current Assets |
244.068
|
184.156 |
165.315 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
59.256
|
32.865 |
36.433 |
|
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Provisions |
25.977
|
25.333 |
21.618 |
|
Total
Current Liabilities |
85.233
|
58.198 |
58.051 |
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Net Current Assets |
158.835
|
125.958 |
107.264 |
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MISCELLANEOUS EXPENSES |
1.069 |
0.472 |
0.000 |
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TOTAL |
419.749 |
320.779 |
294.484 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
375.650 |
274.439 |
251.644 |
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Other Income |
14.837 |
13.163 |
13.262 |
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Total Income |
390.487 |
287.602 |
264.906 |
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Profit/(Loss) Before Tax |
38.803 |
30.092 |
27.427 |
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Provision for Taxation |
12.055 |
9.669 |
11.600 |
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Profit/(Loss) After Tax |
26.748 |
20.423 |
15.827 |
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Export Value |
100.415 |
59.078 |
74.935 |
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Expenditures : |
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Raw Material Consumed |
183.913 |
129.520 |
112.740 |
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Consumption of stores and spares parts |
25.366 |
17.323 |
0.000 |
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Increase/(Decrease) in Finished Goods |
[1.596] |
[1.713] |
[0.298] |
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Salaries, Wages, Bonus, etc. |
14.603 |
14.041 |
14.764 |
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Managerial Remuneration |
4.773 |
3.352 |
5.516 |
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Payment to Auditors |
0.300 |
0.150 |
0.200 |
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Interest |
12.454 |
5.987 |
8.042 |
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Insurance Expenses |
0.494 |
1.495 |
0.965 |
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Power & Fuel |
22.696 |
19.782 |
18.876 |
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Depreciation & Amortization |
12.423 |
11.061 |
19.861 |
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Other Expenditure |
76.259 |
56.512 |
56.813 |
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Total Expenditure |
351.685 |
257.510 |
237.479 |
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QUARTERLY RESULTS
|
PARTICULARS |
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|
31.03.2008 |
|
Type |
|
|
Full
year |
|
Sales Turnover |
|
|
390.700 |
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Other Income |
|
|
1.600 |
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Total Income |
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|
392.300 |
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Total Expenditure |
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|
324.500 |
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Operating Profit |
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|
67.800 |
|
Interest |
|
|
11.300 |
|
Gross Profit |
|
|
56.500 |
|
Depreciation |
|
|
15.000 |
|
Tax |
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|
13.000 |
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Reported PAT |
|
|
28.500 |
KEY RATIOS
|
Year |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity Ratio |
1.11 |
1.07 |
0.99 |
|
Long Term Debt-Equity Ratio |
1.03 |
1.07 |
0.99 |
|
Current Ratio |
1.94 |
2.25 |
2.34 |
|
TURNOVER RATIOS |
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Fixed Assets |
1.59 |
1.29 |
1.33 |
|
Inventory |
9.69 |
8.01 |
7.80 |
|
Debtors |
3.05 |
2.80 |
2.97 |
|
Interest Cover Ratio |
4.10 |
6.00 |
4.43 |
|
Operating Profit Margin(%) |
16.40 |
16.40 |
16.95 |
|
Profit Before Interest And Tax Margin(%) |
13.21 |
12.53 |
13.25 |
|
Cash Profit Margin(%) |
10.07 |
11.18 |
9.62 |
|
Adjusted Net Profit Margin(%) |
6.87 |
7.31 |
5.91 |
|
Return On Capital Employed(%) |
14.96 |
12.51 |
12.76 |
|
Return On Net Worth(%) |
16.37 |
15.09 |
11.34 |
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
Subject has a ISO 9002 Certification from DNV Certification B.V. QSC –7478, The Netherlands for its PCBs.
The Company is leading PCB manufacturing company located in the capital city – Gandhinagar, of the most industrialised State of Gujarat, India.
The Company is leading as manufacturers of PCBs, having Hi-Tech Plant, with state-of –the –art facilities. Company’s customer based extends to all corners of India, and beyond, such as Europe, U.S.A., U.K., Australia, New Zealand, Singapore. The Company has dealers and distributors, strategically located at various points, throughout the country for pickup and delivery at Gandhinagar, Ahmedabad, Mumbai, Bangalore, Hyderabad, Delhi and Chandigarh.
The Company is jointly promoted by Gujarat Apollo Group of India and US based NRI professionals with more than two decades of experience in manufacturing of Printed Circuit Boards.
The company’s products are used in the field of telecommunications, computers, instruments, process control and defence applications. Company also manufactures back panels with press fir designs. The annual production capacity is 36000 Sq. Meters for double sided boards and 12000 Sq. Meters for Multi Layered boards. The company has emerged as one of the key PCB suppliers in India and abroad. The company also has a dedicated plant to cater the needs of prototype volumes with a quick turnaround time of 2,3 and 4 days.
Recently company has procured two Flying Probe Machines from Probot and one of AOI Accumech2 from Barco. The company has announced to open another plant of 20000 Sq. Fts. area for prototype as well as speciality jobs. Company has opened up a State of the art front end operation with capacity of more than 40 jobs/day.
NOTE:-
Subject was incorporated as a private limited company on 8th February, 1995 at Ahmedabad in Gujarat. Subject became a deemed public company based on turnover criteria, later. However, again converted into a private Limited w.e.f. 01-08-2001.
FORM 8:-
|
Corporate identity
number of the company |
U74140GJ1995PLC024524 |
|
Name of the
company |
CIRCUIT SYSTEMS
(INDIA) LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
B – 24, GIDC, Electronic Estate, Sector – 25, Gandhinagar- 382 044,
Gujarat, India |
|
This form is for |
Modification of
Charge |
|
Type of charge |
· Book Debts · Movable Property |
|
Particular of
charge holder |
Corporation Bank IFB, Ellis
bridge, Ahmedabad – 380 006, Gujarat, India E-Mail: cb489@corpbank.co.in |
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Nature of
instrument creating charge |
Supplementary
Common Deed of hypothecation of Movable
/ Assets / Debts Dated
05.01.2007 |
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Date of
instrument Creating the charge |
05.01.2007 |
|
Amount secured by
the charge |
Rs. 175.700
millions |
|
Short Particulars
of the property charged |
Hypothecation of
entire present and future stock consisting of raw materials , work in process,
finished goods, consumable, etc used in Printed circuit Board manufacturing
activates and any other such items stored in factory premises sit. At # B
-24, GIDC Electronic Estate, Sector 215, Gandhinagar or at any other place.
Entire Receivables, book debts of the company and entire movable fixed assets
of the company both present and future. |
|
Particulars of
the present modification |
The overall limit
stands increased from Rs. 165.700 millions to Rs. 175.700 millions Details of
limit sanction are as under : CC (hypothecation
of stock and book debts) Rs. 72.500 millions. Term Loan - I Rs.
19.500 millions, Term Loan – II Rs. 9.000 millions, Term Loan – III Rs.
12.700 millions. Inland / Import / L/C Rs. 60.000 millions Sub limit Import
of Capital Goods Rs. 7.500 millions) Bank guarantee Rs. 2.000 millions |
|
Name of the company |
CIRCUIT SYSTEMS (INDIA) LIMITED |
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Presented By |
Mr. Paresh N Vasani , Director |
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1) Date and description of instrument creating the change |
Agreement of
hypothecation of Movables Dated 05.08.1999 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 58.500
millions |
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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 |
All the
materials, stock in process, Semi finished goods, and Stores and Spares. All
Receivables Machineries, Equipments, Furniture’s Computers, Jigs and Fixtures
and all other movable fixed assets of
the company present or future which now belong to and now may hereafter,
during the subsistence of the borrowers liability belong to the borrower and
which are shall / may brought into or stored or be in / upon the borrower premises / Godown at B – 24 , GIDC
Electronic Estate, Gandhinagar – 382 044, and or any other premises or
wherever else or in course of transit or delivery to the borrower. |
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|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on
all the movable assets of the company mentioned in Column No. 3 Interest will be
charged as 15.50 % p.a (Exclusive of interest Tax) being 3.50 % over and
above the bank PLR which is 12% p.a as at present |
||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Corporation Bank IFB Branch,
Rangoli Complex, opposite V S Hospital, Ashram Road, Ahmedabad – 380 006,
Gujarat, India |
||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Supplemental
Common deed of hypothecation of Movables / Assets / Debts Dated 30.07.2004 |
||||||||||||||||||
|
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. |
The charge created
by the company on its movables on 05.08.1999 to secure various credit limits
aggregating to Rs. 58.500 millions was modified from time to time. On
30.09.2000, the said charge was further modified to cover enhanced; limits of
Rs. 88.000 millions (registered on 06.11.2000). By a further
supplemental deed of hypothecation of Movable assets / Debts Dated 09.01.2004
(registered on 28.04.2004, the charge
created and modified earlier
was modified further to cover
the enhanced facilities of Rs. 123.500 millions which was further
modified to cover additional import
letter of credit limit of Rs. 25.000
millions on 26.05.2004 (registered on
10.06.2004) making a total of Rs. 148.500 millions. By a Supplemental
Deed of hypothecation of Movables / Assets / debts Dated 30.07.2004 the said
Bank has granted an Adhoc Import L/C limit of Rs. 9.000 millions and an
overall limit of Rs. 157.500 millions the break up of which is as under:
Rate of interest
to be charged by the said Bank on cash credit shall be 12% p.a being 1.5%
over and above the Banks Prime Lending rate (PLR), which is 10.5% p.a at present.
On the term Loans , the rate of interest shall be 12.75% over and above the
prime Lending Rate (PLR) There is no
change in any part of other terms and conditions, since last modification. |
WEBSITE DETAILS:-
A leading manufacturer of printed circuit boards having state-of-art
manufacturing facilities at Gandhinagar ( India).
A customer
oriented enterprise with a mission to assist customers to fulfill their
requirements at the pinnacle of technology.
Today subject is a
key supplier to Telecom industry, Automobile sector, process control,
Industrial applications and various R & D establishments.
Product Range :
- Prototypes
- Double Side
- Multilayers Upto 24 Layers
Product
Specifications :
|
SPECIFICATIONS |
STANDARAD |
PROTOTYPE |
|
Minimum Conductor Width |
5 MILS/ 0.127 MM |
4 MILS/ 0.10 MM |
|
Minimum Conductor Spacing |
5 MILS/ 0.127 MM |
4 MILS/ 0.10 MM |
|
Minimum Plated Hole Size |
10 MILS/ 0.25 MM |
8 MILS/ 0.20 MM |
|
Maximum Board Size
(Active) |
610 MM X 400 MM |
820 MM X 400 MM |
|
Maximum Number Of Layers |
18 |
24 |
|
Maximum Outer Layer Cu.
Thickness |
4 OZ (140 Micron) |
6 OZ (210 Micron) |
|
Maximum Inner Layer Cu.
Thickness |
2 OZ (70 Micron) |
3 OZ (105 Micron) |
|
Board Thickness Tolerance |
+10 % |
+10 % |
|
SMD Testing |
20 MILS/ 0.50 MM |
15 MILS/ 0.38 MM |
|
PTH-NPTH
Tolerances |
|||
|
PTH |
NPTH |
||
|
Hole Size |
Tol. |
Hole Size |
Tol. |
|
0.5-3.5 mm |
+/-0.10 mm |
< 3.0 mm |
+/- 0.10 mm |
|
> 3.5 mm |
+/-0.15 mm |
> 3.0 mm |
+/- 0.15 mm |
|
PCB SIZE
Tolerances |
|
|
Size |
Tol. |
|
< 150 mm |
+/-0.20 mm |
|
> 150 mm |
+/-0.50 mm |
|
Other Tolerances |
|
|
Thickness of PCB |
+/- 10% |
|
Tolerance for Track width / spacing |
+/- 20% |
|
Tolerance for Finished copper thickness
(Plating in hole is considered) |
> 20 micron |
Product Finish :
|
1) PROTOTYPES |
|
Lead Free Finishes |
|
Electorolytic Gold Plating |
|
Hasl |
|
Carbon Printing |
|
Peelable Masking |
|
2) SOLDER MASK
FINISH |
|
- Photo Imageable Liquid
Soldermask |
|
3) PRODUCT RAW
MATERIAL |
|
- Fr-4, Is 400, Is 410 |
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. 42.30 |
|
UK Pound |
1 |
Rs. 84.03 |
|
Euro |
1 |
Rs. 66.42 |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|