MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RTRONIX COMMUNICATIONS PRIVATE LIMITED |
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Registered Office : |
40/77, C R Park, New Delhi-110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.10.2005 |
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Com. Reg. No.: |
142011 |
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CIN No.: [Company
Identification No.] |
U747899DL2005PTC142011 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR12193G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and network solutions provider, specializing
in providing cost efficient technology
solutions encompassing a wide range of applications for the Telecom
and Broadcast
Industry. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2200 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company having moderate track. Company’s
profitability is under severe pressure having good amount of accumulated
losses. Payments are reported as slow and delayed. The company can be considered for any business dealings on safe and
secured terms, only. |
LOCATIONS
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Registered Office : |
40/77, C R Park, New Delhi-110019, India |
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E-Mail : |
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Website : |
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Factory : |
B-53, Sector-57, Noida-201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4231581/ 84 |
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Fax No.: |
91-120-4231580 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ruma Ghatak |
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Designation : |
Director |
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Address : |
G-21, Sector-12, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
11.07.1959 |
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Date of Appointment : |
21.10.2005 |
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Name : |
Mr. Prasanta Kumar Ghatak |
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Designation : |
Director |
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Address : |
G-21, Sector-12, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
01.04.1951 |
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Date of Appointment : |
21.10.2005 |
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Name : |
Mr. Devasgusg Dam |
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Designation : |
Additional Director |
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Address : |
A-37, Sector-34, Near Church, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
15.07.1950 |
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Date of Appointment : |
16.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Prashant Kumar Ghatak |
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20000 |
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Prashanta Kumar Ghatak |
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90000 |
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Dabashish Dam |
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80000 |
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Total |
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190000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and network solutions provider, specializing in
providing cost efficient technology
solutions encompassing a wide range of applications for the Telecom
and Broadcast
Industry. |
GENERAL
INFORMATION
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Bankers : |
Vijaya Bank, Sector-19,
Noida-201301, Uttar Pradesh, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jain Garg and Company Chartered Accountant |
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Address : |
501, Deepshilkha, 8, Rajendra Place, New Delhi-110008, India |
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Tel. No.: |
91-11-25747562 |
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Name : |
Agarwal and Jalan Chartered Accountant |
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Address : |
U-203, IIIrd, Vikas Marg, Shakurpur-110092, Delhi, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/-each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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190000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.900
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.900 |
1.900 |
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2] Share Application Money |
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0.050 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.509 |
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4] (Accumulated Losses) |
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[1.502] |
0.000 |
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NETWORTH |
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0.448 |
2.409 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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6.489 |
1.000 |
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TOTAL BORROWING |
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6.489 |
1.000 |
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DEFERRED TAX LIABILITIES |
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0.058 |
0.000 |
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TOTAL |
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6.995 |
3.409 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.914 |
0.673 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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2.300 |
2.300 |
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DEFERREX TAX ASSETS |
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0.807 |
0.045 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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6.002 |
4.434 |
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Sundry Debtors |
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7.625 |
0.000 |
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Cash & Bank Balances |
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0.075 |
0.218 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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5.447 |
7.829 |
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Total
Current Assets |
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19.149 |
12.481 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.713 |
11.807 |
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Provisions |
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0.462 |
0.389 |
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Total
Current Liabilities |
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16.175 |
12.196 |
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Net Current Assets |
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2.974 |
0.285 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.106 |
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TOTAL |
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6.995 |
3.409 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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24.533 |
9.141 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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24.533 |
9.141 |
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Profit/(Loss) Before Tax |
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[2.585] |
0.853 |
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Provision for Taxation |
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[0.574] |
0344 |
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Profit/(Loss) After Tax |
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[2.011] |
0.509 |
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Imports : |
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Import Value |
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14.719 |
2.061 |
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Expenditures : |
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Depreciation & Amortization |
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0.069 |
0.031 |
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Other Expenditure |
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27.049 |
8.257 |
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Total Expenditure |
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27.118 |
8.288 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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[8.19] |
5.57 |
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Net Profit Margin (PBT/Sales) |
(%) |
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[10.54] |
9.33 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[12.88] |
6.48 |
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Return on Investment (ROI) (PBT/Networth) |
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[5.77] |
0.35 |
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Debt Equity Ratio (Total Liability/Networth) |
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50.58 |
5.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.18 |
1.02 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from H-1513, Ist,
Floorcr Park, New Delhi, C R Park, New Delhi, India to present address w.e.f 01.04.2006
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U747899DL2005PTC142011 |
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Name of the
company |
RTRONIX COMMUNICATIONS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
H-1513, Ist, Floorcr Park, New Delhi, C R Park, New Delhi, India |
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This form is for |
Creation of
Charge |
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Type of charge |
Others |
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Particular of
charge holder |
Vijaya Bank, Sector-19,
Noida-201301, Uttar Pradesh, India |
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Nature of
instrument creating charge |
Letter of
Repayment |
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Date of
instrument Creating the charge |
07.04.2006 |
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Amount secured by
the charge |
Rs. 2.244
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
All amounts
payable under bill discounting facilities of Rs. 2.244 Millions shall carry
interest at the rate of 3.25 percent over bank’s PLR with a minimum of 14.25
percent per annum with monthly res or at such other rates as may be
prescribed by the bank from time to time. |
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Particulars of
the property charged |
Security in
favour of the bank, for bank having agreed to discounts bills. |
AS PER
WEBSITE
Profile:
Subject is an integrated
manufacturer and network solutions provider, specializing in providing cost
efficient technology solutions
encompassing a wide range of applications for the Telecom
and Broadcast Industry.
They carry the Mission of being smart innovators, developers and integrators of
future proof converged communications.
At Subject, are committed to further innovating and in turn
revolutionizing the facets of video content
distribution and management. They design applications that use high
end technologies to optimize the resources. They are able to achieve this
through the passion for continually developing and perfecting new technologies.
With an unwavering commitment to excellence and a firm
dedication to provide the highest quality service, Subject has designed variety
of technology
solutions for program delivery and distribution to be able to
provide to the industry a comprehensive solution that is not only commercially
viable, but also technically superior and future proof.
Subject offers a wide range of concept to completion
services provided, in whole or in part, to suit individual client and business
needs. These solutions
can be tailored to meet the specific requirements of broadcasters,
content owners and corporate customers.
Subject always gives importance to operations and maintenance
of the systems and solutions.
Subject ensures that all equipments supplied comply with the management norms
that Subject has developed for providing comprehensive network management
service to its customers.
Business Advisory Services
Subject offers a wide range of concept to completion services
provided, in whole or in part, to suit individual client and business needs.
These solutions can be tailored to meet the specific requirements of broadcasters,
content owners and corporate customers.
Content Delivery : Changing The Way You Deliver Content
Subject
provides an array of integrated communication
solutions designed to suit the content collection, aggregation and delivery
needs of Broadcasters in a rapidly changing environment wherein Media has
emerged as the key differentiator in a dynamic social environment.
Studio Engineering
Subject’s services on technology
solutions to the Broadcasters start with the Studio design and
Content management solutions.
Subject is a single window platform providing you a complete end to end studio
design and control solutions, using a collaborated approach to achieve the
specific needs.
Workflow Automation
Subject provides solutions
to maximize the workflow and approval processes with integral solutions that
enable approval chain personnel to quickly and seamlessly capture, manage, edit
and approve raw or edited content via a centralized and easy to use content production
platform.
Content Distribution :
Teleport or Satellite Uplink
Stations, today the primary mode of Video delivery to the consumer,
has been a major focus area for Subject. with its experience in designing a
comprehensive Teleport for Digital Channel Uplink, offers to its customer’s
tailor-made solutions to meet their transmission demands
Manufacturing Services:
Subject has designed and integrated a suit of Products primarilly for content
collection, contribution and distribution. The presnt range of Products
manufactured by Rtronix include:
·
DSNG Vans under various configurations for
simple DSNG transmissions or Outdoor Broadcast (OB) applications.
·
Video and Audio Encoders
·
Base band Transceiver
·
Block Up Converter / SSPA: Subject manufactures a wide
range of KU Band
Block up converters from 16 Watt to 80 Watts. These
BUCs are lightweight
solutions with very low power consumptions and are
capable of mounting on
the Antenna Boom rod or on the feed assembly.
·
L to C/KU Band Upconverters
·
10 Mhz Multiplexer
·
Redundancy Switch: This hardware-based switch is
used to provide the redundancy in a Satellite Uplink solution.
Network Maintenance Services
The changes in Network Infrastructure and services
have resulted in new directions for network maintenance. Subject, with an
understanding of the mission critical applications of the Broadcasters, is
devoted in providing quality Operations and Maintenance services to its
customers through innovative technological solutions.
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.48.01 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
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23 |
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 |
|