MIRA
INFORM REPORT
|
Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CHAMPION ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
Patanjali Survey, 80/3 Off Banner Road, Pune – 411 007, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.10.1975 |
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Com. Reg. No.: |
11-18591 |
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CIN No.: [Company
Identification No.] |
U51395MH1975PTC018591 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEC05408E |
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PAN No.: [Permanent
Account No.] |
AABCC1221H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of high quality and high precision IC sockets, PGA
sockets and board to board connector |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 19000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
No contact could be possible as noone attends the phones of the
company. Subject is an established company having satisfactory track. Payment
records are not known. The company can be considered for small to mediocre business dealings
on safe and secured trade terms and conditions in absence of 2007and 2008
financials. |
LOCATIONS
|
Registered Office : |
Patanjali Survey, 80/3 Off Banner Road, Pune – 411 007, Maharashtra,
India |
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Tel. No.: |
91-20-27122266 |
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Fax No.: |
91-20-27122267 |
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E-Mail : |
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Factory : |
S 17, MIDC, Bhosari, Pune – 411 026, Maharashtra, India |
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Tel. No.: |
91-20-27122264/27122265 |
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Fax No.: |
91-20-27122267 |
DIRECTORS
|
Name : |
Mr. Nalikant Prabhudas Sheth |
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Designation : |
Managing Director |
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Address : |
Patanjali Survey, 80/3 Off Banner Road, Pune – 411 007, Maharashtra,
India |
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Date of Birth/Age : |
25.02.1946 |
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Date of Appointment : |
28.09.2006 |
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Date of Cessation : |
28.09.2009 |
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Name : |
Mr. Arun Prabhudas Sheth |
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Designation : |
Director |
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Address : |
604, Residency Building, Lokhandwala Complex, Versova, Andheri (West),
Mumbai – 400 058, Maharashtra, India |
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Date of Birth/Age : |
24.12.1947 |
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Date of Appointment : |
28.09.2006 |
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Date of Cessation : |
28.09.2009 |
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Name : |
Mr. Dhiren Prabhudas Sheth |
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Designation : |
Director |
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Address : |
192, Venus Apartment Cuffe Parade, Colaba, Mumbai – 400 005,
Maharashtra, India |
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Date of Birth/Age : |
08.06.1955 |
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Date of Appointment : |
28.09.2006 |
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Date of Cessation : |
28.09.2009 |
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Name : |
Mr. Reshmikant Jayantilal Kampani |
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Designation : |
Director |
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Address : |
27, Vishnumahal, D Road, Marine Drive, Mumbai – 400 002, Maharashtra,
India |
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Date of Birth/Age : |
24.02.1940 |
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Date of Appointment : |
28.09.2006 |
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Date of Cessation : |
28.09.2009 |
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Name : |
Mr. Kishore Jaswantlal Vora |
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Designation : |
Director |
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Address : |
8, Bhailal Bhavan, 72/A, L.S.Road, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
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Date of Birth/Age : |
16.07.1940 |
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Date of Appointment : |
28.09.2006 |
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Date of Cessation : |
28.09.2009 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On 29.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
Nalikant Prabhudas Sheth |
|
100 |
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Pratibha Jayant Sheth |
|
1 |
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Jayant Harakchand Shah |
|
1 |
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Nalikant Prabhudas Sheth Jointly with Prabhudas Lilladher |
|
1030 |
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Arun Prabhudas Sheth |
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50 |
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Vasumati Prabhudas Sheth |
|
50 |
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Prabhudas Lilladher Sheth |
|
50 |
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Prabhudas Lilladher Sheth |
|
390 |
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Dhiren Prabhudas Sheth |
|
1 |
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Vasumati Prabhudas Sheth |
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1 |
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Prabhudas Lilladher Sheth |
|
1 |
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Dhiren Prabhudas Sheth |
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1 |
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Purnima Arun Sheth |
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1 |
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Lina Dhiren Sheth |
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1 |
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Nalin P Sheth |
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2565 |
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Prabhudas Lilladher Private Limited |
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1270 |
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Total |
|
5513 |
Equity shares breakup (percentage of total equity)
|
Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of high quality and high precision IC sockets, PGA
sockets and board to board connector |
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Products : |
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Actual Production
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Product |
31.03.2006 |
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Electronic Components and IC sockets |
8621 |
GENERAL
INFORMATION
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No. of Employees : |
32 |
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Bankers : |
State bank of India, Through Industrial Finance Branch, Pimpri, Pune –
411 034, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
P.C Hansotia and Company Chartered Accountant |
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Address : |
12, DR. Anne Besant Road, Opp. Shivsagar Estate, Worli, Mumbai – 400
018, Maharashtra, India |
CAPITAL STRUCTURE
(As On 28.09.2006)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5513 |
Equity Shares |
Rs.100/- each |
Rs.0.551
Millions |
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.551 |
0.551 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
3.410 |
2.227 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
3.961 |
2.778 |
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LOAN FUNDS |
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1] Secured Loans |
|
3.542 |
2.310 |
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2] Unsecured Loans |
|
1.133 |
1.542 |
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TOTAL BORROWING |
|
4.675 |
3.852 |
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DEFERRED TAX LIABILITIES |
|
0.776 |
0.384 |
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TOTAL |
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9.412 |
7.014 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.790 |
4.861 |
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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 |
|
6.599 |
2.768 |
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Sundry Debtors |
|
2.241 |
2.164 |
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Cash & Bank Balances |
|
0.056 |
0.077 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
0.192 |
0.489 |
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Total
Current Assets |
|
9.088 |
5.498 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Current Liabilities |
|
4.177 |
3.185 |
|
|
Provisions |
|
0.288 |
0.160 |
|
Total
Current Liabilities |
|
4.465 |
3.345 |
|
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Net Current Assets |
|
4.623 |
2.153 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
|
|
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TOTAL |
|
9.412 |
7.014 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
29.656 |
34.072 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
29.656 |
34.072 |
|
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|
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Profit/(Loss) Before Tax |
|
2.071 |
1.492 |
|
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Provision for Taxation |
|
0.889 |
0.919 |
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Profit/(Loss) After Tax |
|
1.182 |
0.573 |
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Earnings in Foreign Currency : |
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Export Earnings |
|
7.242 |
7.480 |
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Imports : |
|
|
|
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Raw Materials |
|
5.418 |
6.496 |
|
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Stores & Spares |
|
0.385 |
0.025 |
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Expenditures : |
|
|
|
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Interest |
|
0.441 |
0.426 |
|
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Depreciation & Amortization |
|
0.558 |
0.516 |
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Other Expenditure |
|
26.586 |
31.638 |
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Total Expenditure |
|
27.585 |
32.580 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
3.98 |
1.68 |
|
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Net Profit Margin (PBT/Sales) |
(%) |
|
6.98 |
4.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
14.92 |
14.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.52 |
0.53 |
|
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Debt Equity Ratio (Total Liability/Networth) |
|
|
2.30 |
2.59 |
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|
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Current Ratio (Current Asset/Current Liability) |
|
|
2.03 |
1.64 |
LOCAL AGENCY
FURTHER INFORMATION
Operations
Sales for the year aggregated to Rs.29.656 Millions as against Rs.34.072
Millions. This year has registered an increase in profit over last year. Operating
Results have resulted in a profit of Rs.2.071 Millions as against profit of
Rs.1.491 Millions.
Sales for the current year to date are lower at Rs.26.500 Millions as
compared to Rs.30.600 Millions in previous relevant period.
Dividends
In view of the accumulated losses your Directors have not recommended
any dividend.
Form 8
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Name of the company |
CHAMPION ELECTRONICS PRIVATE LIMITED |
|
Presented By |
State Bank of
India, Pimpri Branch, Pune |
|
1) Date and description of instrument creating the change |
1. General
Agreement for Working Capital 2. Ancillary
Agreement No.1 3. Ancillary
Agreement No.3 4. Ancillary
Agreement No.6 All the above
agreements are dated 07.10.1992 and executed for the creation of single
charge. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.600 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 raw
materials, work in progress, finished goods, bills receivables/cheques. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
ROI: 17.75% p.a Margin: 25% Repayment: on
Demand |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Pimpri Branch, Pune |
|
6) Date and brief description of instrument modifying the charge |
1. Confirmation
Letter 2. Memorandum for
deposit of title deeds for creating further charge. Both the above
agreements are date 12.06.1996 and executed for the creation of a single
modification. |
|
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 original
charge was creation of 07.10.1992 for Rs.5.600 Millions listlu modified on
19.08.1994 for Rs.6.700 Millions. New by the present modification. Date
:12.06.1996 is offered as an additional collateral security over the
company’s immovable property i.e. All that piece and parcel of land bearing
plot no.17 in the Pimpri Industrial Area |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90087754 |
|
Corporate
identity number of the company |
U51395MH1975PTC018591 |
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Name of the
company |
CHAMPION ELECTRONICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Patanjali Survey, 80/3 off Banner Road, Pune – 411 007, Maharashtra,
India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State bank of India, Through Industrial Finance Branch, Pimpri, Pune –
411 034, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
1.
Supplemental
Agreement of Loan-cum-Hypothecation 2.
Letter of
Arrangement (Both the documents executed for a single modification) |
|
Date of
instrument Creating the charge |
07.04.2008 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest DCC – 13.75% with
monthly rests. Open Term Loan –
14.25% with monthly rests. Terms of
Repayment As per Agreement Margin As per Agreement Extent and
Operation of the charge Hypothecation of
current Assets of the Company Demand Cash Credit
– Rs.10.000 Millions, Open Term Loan – Rs.10.000 Millions Others |
|
Short particulars
of the property charged |
Hypothecation of
all present and future goods, book debts, movables and other assets |
|
Date of latest modification
prior to the present modification |
12.06.1996 |
|
Particulars of
the present modification |
The facility
enhance up to Rs.20.000 Millions. Now, the Facility structure stands as
Follows : Demand Cash Credit – Rs.10.000 Millions, Open Term Loan – Rs.10.000
Millions |
History
Subject is a leading manufacturer of high quality and high precision IC sockets, PGA sockets and board to board connectors, and is based in Bhosari (Pune), India. Champion's 4.45mm above board DIP sockets and some of its PGA sockets have received the following approval certifications: LCSO, C-DOT, and CACT.
Subject was founded in 1974 by Mr. Nalin P Sheth, and in its 28 years of existence
has grown into a well recognized and trusted electronic components manufacturer
in India. Mr. Sheth is the managing director of Champion Electronics. To learn
more about the people at Champion, please visit their Management and Team page.
Subject’s customers include BEL, BHEL (department of defense) ITI, HTL, UTL, Link well Telesystems (information technology), and Arvind Mills. It also has many other original equipment manufacturers (OEMS) in India as customers.
Subject has always striven to be The Right Connection - and as it has entered the 21st century, Champion brings its decades of experience, expertise, knowledge, and relationships even closer to you, - the customer - through their new website.
They look forward to reaching out to customers wherever in the world they might
be through this new medium, and hope to continue to provide high quality, high precision products
to customers anywhere - always remaining their Right Connection.
List of Dealer’s
|
Company Name |
Contact Info |
Address |
|
AERO SALES |
Mr. R. K. Shah |
Office No.22,1st Flr.
Meghmalhar, Plot No. 16 Sector 11 |
|
DEE AND ASSOCIATES |
Mr. Vineet Arrora |
S.C.O. 55-56-57
Second Floor, Madhya Marg Sector 8 C |
|
DEWAN RADIOS PRIVATE LIMITED |
Mr. Subhash Dewan |
1681/27-28 Mangal
Market, Bhagirath Palace |
|
ELECTRONIC TRADERS |
Mr. Suhas and M.
Vilas Desai |
Ram Niwas, 8 Tara
Temple Lane, Off Lamington Road |
|
EL-TRONICS |
Mr. M. M. Kothari |
87-A, Dhuleshwar
Garden |
|
INGATA LABORATORIES |
Mr. M Shailesh |
86 Oppankara
Street |
|
KAPITAL INFORMATION TECHNOLOGIES PRIVATE LIMITED |
Mr. Chandrasekar |
6,7,8,Archana
Arcade,IT Complex Nr-Sec-bad Rly. Reserve Complex |
|
MAXIMELECTRONICS |
Mr. Rajubhai |
101,Sona Shopping
Centre, 60 Ft Road,Nr.Radhika Hotel |
|
NATIONAL ELECTRONICALS AND ELECTRONICS CORPORATION |
Mr. Ashok Patel |
32, Third Floor,
Lohana Building Prof.Manekrao Road, Raopura |
|
OMKAR ENTERPRISES |
Mr. Moghe |
Parvati Niwas 1st
Floor Shop 1 Landewadi Bhosari Rd |
|
SESHASAYE BROTHERS (PRIVATE) LIMITED |
Mr. Vishwanathan
Sampath |
No. 5/1 Krishnama
Lane Nungambakkam |
|
SHAH TRADERS |
Mr. Pradeep K.
Shah |
4 J 1st Floor,
Chhotani Building, 52-B Proctor Road, Grant Road |
|
SILVERLINE AND SYSTEMS |
Mr. Subhodh M.
Joshi |
Ramkrishna Bldg.,
2nd Floor, R, Dr. D.B.Marg, Chunam Lane |
|
TECHNO SCIENTIFIC AND SYSTEMS |
Mr. A. Srinivasa
Rao |
B-99 S.P.G. Church
Complex Palika Bazar |
|
TECHNO TANK INDUSTRIES |
Mr. Bhadrish Sheth |
16, India Exchange
Place, Ground Floor |
|
VAIBHAV ELECTRONIC AGENCIES |
Mr. Devi |
418, Narayan
Peth,1st Floor, Near Umbraya Ganpati Chowk |
|
VAISHLI ELECTRONICS AND DEVICES |
Mr. Vineet Bhandari |
411,4th Floor
Shakuntala Appt. 59, Nehru Place |
|
VELTRON ELECTRONIC DEVICES PRIVATE LIMITED |
Mr. Sachin Mehta |
Shop
no.6,Pushpadant Niwas Gr. Flr. Chunam lane, Lamington R |
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.47.59 |
|
UK Pound |
1 |
Rs.74.55 |
|
Euro |
1 |
Rs.60.57 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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 |
|