MIRA
INFORM REPORT
|
Report Date : |
06.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJKAMAL ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
1-1-188/13, Chhikkadpally, Hyderabad - 500020, Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of Incorporation : |
20.02.1992 |
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Com. Reg. No.: |
01-13880 |
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CIN No.: [Company
Identification No.] |
U29309AP1992PTC013880 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
HYDR01053D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in electronic goods. |
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 66496 |
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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 well established company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
1-1-188/13, Chhikkadpally, Hyderabad - 500020, Andhra Pradesh, India |
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Tel. No.: |
91-40-23445353 /
54 / 33 / 44 |
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Mobile No.: |
91-9849963355 (Ms
Madhavi) |
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Fax No.: |
91-40-23445356 |
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Area : |
Rented |
DIRECTORS
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Name : |
Mr. Kamlesh H. Shah |
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Designation : |
Managing Director |
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Date of birth : |
05.05.1957 |
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Date of Appointment : |
20.02.1992 |
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Name : |
Mr. Rajesh H. Shah |
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Designation : |
Director |
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Date of Birth : |
20.08.1958 |
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Date of Appointment : |
20.02.1992 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
No. of Shares |
|
Rajesh Shah |
5163 |
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Kamlesh Shah |
4254 |
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Prabhavathi H.
Shah |
4620 |
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Komal K Shah |
5014 |
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Pooja R Shah |
1683 |
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Nimita R Shah |
5000 |
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Veeral K Shah |
1250 |
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Prerna R Shah |
1198 |
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Mithil Shah |
1198 |
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HC Shah &
Sons HUF |
5000 |
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CV Mehta |
800 |
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Chintan Mehta |
1150 |
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Gourav C Shah |
750 |
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Mayuri C Shah |
450 |
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Kamlesh h Shah
HUF |
6270 |
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Rajesh H Shah HUF |
6200 |
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Total |
50000 |
Equity Share Breakup As on 30.09.2007
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Sr. no. |
Category |
Percentage |
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1. |
Directors or Relatives of Directors |
100 |
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Total |
100 % |
BUSINESS DETAILS
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Line of Business : |
Trading in electronic goods. |
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Agencies Held : |
SAMSUNG |
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GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Venkatram & Company Chartered Accountants |
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Address : |
1-10-63/16, Chikoti Gardens, Begumpet, Hyderabad-500016, Andhra Pradesh |
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Tel. No.: |
91-40-27762235 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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540000 |
Equity Shares |
Rs.100/- each |
Rs.54.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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74,900 |
Equity Shares |
Rs.100/- each |
Rs. 7.490 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 |
7.490 |
7.490 |
5.000 |
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2] Share Application Money |
5.082 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.052 |
2.613 |
1.917 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.624 |
10.103 |
6.917 |
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LOAN FUNDS |
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1] Secured Loans |
47.905 |
31.616 |
32.519 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
47.905 |
31.616 |
32.519 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
64.529 |
41.719 |
39.436 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.988 |
18.093 |
11.580 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.500 |
0.500 |
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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 |
44.565
|
37.660 |
35.405 |
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Sundry Debtors |
44.220
|
17.722 |
19.198 |
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Cash & Bank Balances |
0.258
|
3.429 |
3.496 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
5.451
|
5.059 |
3.796 |
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Total
Current Assets |
94.494
|
63.870 |
61.895 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
47.090
|
40.571 |
34.409 |
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Provisions |
0.973
|
0.233 |
0.190 |
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Total
Current Liabilities |
48.063
|
40.804 |
34.599 |
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Net Current Assets |
46..431
|
23.066 |
27.296 |
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MISCELLANEOUS EXPENSES |
0.110 |
0.060 |
0.060 |
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TOTAL |
64.529 |
41.719 |
39.436 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
Sales Turnover [including other income]
|
449.920 |
329.850 |
243.309 |
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Profit/(Loss) Before Tax
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N.A. |
0.928 |
0.835 |
Provision for Taxation
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N.A. |
0.233 |
0.190 |
Profit/(Loss) After Tax
|
1.438 |
0.695 |
0.645 |
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Total Expenditure
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N.A. |
326.650 |
240.868 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.31
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0.21
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0.26
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Net Profit Margin (PBT/Sales) |
(%) |
---
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0.28
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0.34
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Return on Total Assets (PBT/Total Assets} |
(%) |
---
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1.24
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1.52
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Return on Investment (ROI) (PBT/Networth) |
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---
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0.09
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0.12
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Debt Equity Ratio (Total Liability/Networth) |
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5.77
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6.45
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7.01
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Current Ratio (Current Asset/Current Liability) |
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1.96
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2.55
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3.24
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LOCAL AGENCY
FURTHER INFORMATION
The company’s fixed assets of important values :
- Furniture
- Computer
- Scooter
- Generator
- Typewriter
- Electrical Fittings
- EPABAX
- Air Conditioner
- UPS Systems
- Westron C C TV
- Renovation
- Fax Machine
- Camera
- Santro Car
- Sign Boards
- Office Equipment
The company acts as distributors of consumer durables and electronic products.
Generic Name of Principal Product/Service of the company are:
- Electronics Products
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Name of the company |
RAJKAMAL
ELECTRONICS PRIVATE LIMITED |
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Presented By |
Mr. Rajesh
Shah - Director |
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1) Date and description of instrument creating the change |
Letter of
hypothecation Dt. 28.07.2004 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs.19.000
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 |
Stock of consumer
durables stored at chikadpallly and Malakpet Machineries, vehicles goods and
book debts the company |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
1. Intened @11%
p.a. 2. Borrower to
maintained a margin of 25 % |
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5) Name and Address and description of the person entitled to the
charge. |
Indian Overseas
Bank, Chikadpally, Hyderabad – 20 |
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6) Date and brief description
of instrument modifying the charge |
DP note letter of
hypothecation, supplement deed of hypothecation guarantee for cash credit and
conf. letter for supplementary mortgage all dated 23 % 06 |
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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. |
Enhancement of C
C limit from Rs.19.000 Millions to Rs.24.000 Millions and all other
terms the same |
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Corporate identity number (CIN) Foreign company registration number |
U29309AP1992PTC013880 |
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Name of the Company |
RAJKAMAL ELECTRONICS PRIVATE LIMITED |
|
Address |
1-1-188/13, Chhikkadpally, Hyderabad – 500020, Andhra
Pradesh, India |
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This form is for |
Modification of
Charge |
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Type of Charge |
Book Debts Movable Property |
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Particulars of the charge holder
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Indian overseas Bank 1-1, 256/8/A, Street No. 3, Chikadapally, Hyderabad – 500020, Andhra Pradesh Email Id : chikkbr@hyddrc01.iobnet.co.in |
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Amount secured by the charge |
Rs.40.525
Millions |
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Brief of the principal terms and conditions |
1] Rate of
Interest : Interest @ 13.25% P.A. 2] Terms of
Repayment : renewable Each Year 3] Margin :
Margin @25% 4] Extent and
operation of the charge : First charge over stocks of Consumer Durables,
Furniture and air conditioners |
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Nature or Description of
the instrument creating or
modifying the charge |
DPN Dated
21.05.2007 Letter of
hypothecation dated 21.05.2007 Consent –
cum-authorisation dated 21.05.2007 |
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Date of Instrument |
21.05.2007 |
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Particular of the Property
Charge |
Stocks of
consumer durables, furniture and airconditioners |
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.44.17 |
|
UK Pound |
1 |
Rs.86.66 |
|
Euro |
1 |
Rs.57.25 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
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