MIRA
INFORM REPORT
|
Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELCOMPONICS SALES PRIVATE LIMITED
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Registered Office : |
A – 36, Sector – 58, Phase – III, Noida – 201301, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.12.1988 |
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Com. Reg. No.: |
20-10331 |
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CIN No.: [Company
Identification No.] |
U51109UP1988PTC010331 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
ALDE00241D |
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PAN No.: [Permanent
Account No.] |
AAAFE8552H |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Manufacturing of Connector Cable Harness, Power Cords and Switches for
Television. |
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 2000000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company, engaged in manufacture of
components and parts for various industries. Financial position is good.
Trade relations are fair. Payments are usually correct and as per
commitments. The company is doing well. It can be considered good for any normal business dealings at usual
trade terms and conditions. It can be regarded as a promising business partner in a medium to
long-run. |
LOCATIONS
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Registered Office : |
A – 36, Sector – 58, Phase – III, Noida – 201301, Uttar Pradesh, India
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Tel. No.: |
91-120-2490828 / 29 |
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Fax No.: |
91-120-4359538 |
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E-Mail : |
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Website : |
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Factory 1 : |
A-36, Sector-58, Noida - 201301, U.P., INDIA |
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Tel. No.: |
91-120-2490828-29 |
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Fax No.: |
91-120-4359538 |
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Factory 2 : |
A-120, Sector-63, Noida - 201305, U.P., INDIA |
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Tel. No.: |
91-120-2402273 |
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Fax No.: |
91-120-4347180 |
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Factory 3 : |
A-65 Sector 58, Noida - 201301, U.P., INDIA |
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Tel. No.: |
91-120- 2580437 |
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Fax No.: |
91-120-4347180 |
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Factory 4 : |
A-98 Sector 63, Noida - 201305, U.P., INDIA |
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Tel. No.: |
91-120- 2580437 |
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Fax No.: |
91-120-4347180 |
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Branches : |
A-1, SPL Habitat, No. 138 Gangadhar Chetty Road, Ulsoor, Bangalore -
560042 |
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Branches : |
Elcomponics Sales Private
Limited C/o Orient Freight International
INC, Gabriel C Industrial Complex, Export Processing Zone Rosario, Cavite
Philippines |
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Tel. No.: |
+63 46 437 0056 |
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Fax No.: |
+63 46 437 1748 |
DIRECTORS
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Name : |
Mr. Satyendra Narain Dwivedi |
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Designation : |
Director |
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Address : |
A-20, Sector 30, Gautam Budh Nagar, Noida - 20130,1, Uttar Pradesh |
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Date of Birth/Age : |
14.11.1955 |
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Date of Appointment : |
28.12.1988 |
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Name : |
Mrs. Manju Lata Dwivedi |
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Designation : |
Director |
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Address : |
A-20, Sector 30, Gautam Budh Nagar, Noida - 20130,1, Uttar Pradesh |
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Date of Birth/Age : |
28.10.1955 |
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Date of Appointment : |
28.12.1988 |
KEY EXECUTIVES
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Name : |
Mr. Sanjay Kumar Gupta |
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Designation : |
Company Secretary |
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Address : |
Flat No. 418, Plot No. 50, Parashav Vihar Society, Patpar Ganj Depot,
Delhi – 110092, India |
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Tel No. : |
91-11-22244274 |
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Mobile No. : |
91-9350906573 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 27.09.2005
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Names of Shareholders |
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No. of Shares |
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Satyendra Narain DwIvedi |
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119375 |
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Manju Lata DwIvedi |
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30652 |
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Shivendra Dwivedi |
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24000 |
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Rahul Dwivedi |
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24000 |
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Total |
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198027 |
AS ON 30.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Connector Cable Harness, Power Cords and Switches for
Television. |
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Exports : |
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Countries : |
Srilanka, Nepal. Thailand, HongKong and U.K |
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Imports : |
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Countries : |
Germany, Japan, HongKong and China |
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Terms : |
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Selling : |
L/C, Cash or Credit (60 days) terms |
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Purchasing : |
L/C or Credit (90 days) terms |
GENERAL
INFORMATION
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Customers : |
DOMESTIC
INTERNATIONAL
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No. of Employees : |
900 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ramesh C Agrawal and Company Chartered Accountants |
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Address : |
Plot No. 411, Sector – 12, Friends Co-operative, Housing Society, Vasundhra,
Ghaziabad – 201012, Uttar Pradesh, India
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
198000 |
Equity Shares |
Rs. 100/- each |
Rs. 19.800
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 |
15.000 |
15.000 |
15.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
480.813 |
205.828 |
52.370 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
495.813 |
220.828 |
67.370 |
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LOAN FUNDS |
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1] Secured Loans |
66.294 |
77.549 |
78.919 |
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2] Unsecured Loans |
0.000 |
7.203 |
6.614 |
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TOTAL BORROWING |
66.294 |
84.752 |
85.533 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.763 |
1.299 |
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TOTAL |
562.107 |
306.343 |
154.202 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
53.853 |
40.562 |
36.657 |
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Capital work-in-progress |
41.276 |
1.305 |
0.000 |
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INVESTMENT |
8.660 |
5.660 |
5.660 |
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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 |
247.222
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133.942 |
50.641 |
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Sundry Debtors |
283.739
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217.376 |
93.274 |
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Cash & Bank Balances |
45.823
|
8.160 |
22.201 |
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Other Current Assets |
23.687
|
7.935 |
4.670 |
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Loans & Advances |
23.745
|
19.237 |
9.186 |
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Total
Current Assets |
624.216
|
386.650 |
179.972 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
159.729
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114.187 |
62.190 |
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Provisions |
6.423
|
13.772 |
6.111 |
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Total
Current Liabilities |
166.152
|
127.959 |
68.301 |
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Net Current Assets |
458.064
|
258.691 |
111.671 |
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MISCELLANEOUS EXPENSES |
0.254 |
0.125 |
0.214 |
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TOTAL |
562.107 |
306.343 |
154.202 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
1391.581 |
785.320 |
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Other Income |
|
2.800 |
1.424 |
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Total Income |
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1394.381 |
786.744 |
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Profit/(Loss) Before Tax |
|
310.604 |
170.471 |
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Provision for Taxation |
|
1.412 |
3.297 |
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Profit/(Loss) After Tax |
|
309.192 |
167.192 |
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Earnings in Foreign Currency |
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1207.041 |
641.539 |
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Import Value |
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846.239 |
494.808 |
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Expenditures : |
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Financial Charges |
|
12.849 |
9.612 |
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Depreciation & Amortization |
|
8.364 |
5.756 |
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Other Expenditure |
|
1062.564 |
600.905 |
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Total Expenditure |
|
1083.777 |
616.273 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
22.17
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21.25 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
22.32
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21.70 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
45.81
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39.90 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.63
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0.77 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.47
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0.96 |
2.28 |
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Current Ratio (Current Asset/Current Liability) |
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3.76
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3.02 |
2.63 |
LOCAL AGENCY
FURTHER INFORMATION
The company is in trade terms with :
Ř Samsung
Electronics India Limited, Noida, Uttar Pradesh
Ř LG Electronics
India Limited
Bankers Charges
Report as per Registry
|
Name of the company |
ELCOMPONICS
SALES PRIVATE LIMITED |
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Presented By |
Company and Standard Chartered Bank, New
Delhi |
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1) Date and description of instrument creating the change |
Agreement of
hypothecation of Machinery dated 23.04.2004, registered on 22.06.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
INR 10 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 |
First charge by
way of hypothecation on all present and future fixed assets of the company
situated at A – 120, Sector 63, Noida or wherever else the same may be. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest as may
be determined by the Bank from time to time Repayable in 12 quarterly
installments of principal commencing 3 months from the date of drawdown. |
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5) Name and Address and description of the person entitled to the charge. |
Standard
Chartered bank, Parliament Street, New Delhi |
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6) Date and brief description of instrument modifying the charge |
No instrument was
executed. Memorandum of Entry creating first Exclusive charge by way of
Equitable Mortgage dated 30.04.2005 |
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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. |
Term loan of INR
10 Millions together with interest, cost, etc, shall additionally the secured
by first exclusive charge on the company’s immovable properties situated at A
– 120, Sector 63, Noida, together with all building and structures thereon
and all plant and machinery attached to the earth or permanently fastened to
anything attached to the earth. |
AS PER WEBSITE
MILESTONES
1988 - Establishment of the
company with a share capital of US$ 2000
1994 - Connector Assemblies with
technical assistance from Taiko Denki Co. Limited Singapore.
1995 - Approved supplier of
Connector Assemblies for Matsushita Television & Audio
1996 - Approved supplier of
Connector Assemblies and Power Cords for Sony.
1997 - Approved supplier of
Connector Assemblies to Samsung.
1998 - Approved supplier of
Connector Assemblies and Power Cords to LG.
2001 - Approved supplier to Videocon
International.
2002 - Shifted to a new State-of-the-art
manufacturing plant with a working space of 34,000 sq. feet at NOIDA for
specifically Export Customers.
2003 - Approved supplier of
Connector Assemblies to American Power Conversion Limited
2004 - Supply of Connector
Assemblies to American Power Conversion Limited Philippines
2005 - Supplies of Connector
Assemblies to American Power Conversion Limited China, Zamil AC Gulf
Approved suppliers for DG coils to Vestel -
Turkey
2006 - Supply of Connector
Assemblies to American Power Conversion Limited Brazil also
Well equipped RoHS Lab set up in March 2006
with XRF Niton Gun Tester.
Approved supplier to Elcoteq
Approved supplier to Emerson
ENTERED INTO AUTOMOBILE SECTOR:
2007 - Approved supplier to
William controls
Supplies initiated – Paddle assembly to
William Controls USA and China Plants
TS 16949 / ISO9001/ ISO 14001 certifies by
BSI.
Best Supplier Award from APC/MGE group
company of Schenider
Awarded Niryat Shree Gold Trophy by FIEO
Ministry of Commerce, India
Initiated business with Emerson; TOD; Bench
mark Electronics
Shortly opening a plant at Chennai SEZ
Business Partners :
- Molex
- Tyco Electronics
- JST
- KET
- APP
- Kyocera
- Sumitomo Elelctric
- Yeonho Elelctronics
- LTK
- Littelfuse
- Panduit
- Quifurui
Elcomponics
supplies
- 50% of the total sale to the consumer Electronic Sector
- 48.50% to Power Electronics Sector
- And 1.5% supply to Automobile Sector
Plants
|
Connector Assembly : Plant - I |
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Manufacturing Facility |
Connector Assemblies. |
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Land Area |
32,416 sq. ft. |
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No. of Floors |
4. |
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No. of Operators |
240 |
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Certification |
ISO 9001 & 14001 |
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UL certified for Connector Assemblies. |
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Connector Assembly : Plant - II |
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Manufacturing Facility |
Connector Assemblies , Power Cords & Degaussing Coils. |
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Land Area |
24,312 sq. ft. |
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No. of Floors |
3 |
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No. of Operators |
70 |
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Certification |
ISO 9001 & 14001 |
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UL certified for Connector Assemblies. |
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Connector Assembly : Plant - III |
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Manufacturing Facility |
Connector Assemblies. |
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Land Area |
24,312 sq. ft. |
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No. of Floors |
3 |
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No. of Operators |
410 |
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Certification |
ISO 9001 & 14001 |
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UL certified for Connector Assemblies. |
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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. |
|
UK Pound |
1 |
Rs. |
|
Euro |
1 |
Rs. |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
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 |
|