MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PROSEM TECHNOLOGY INDIA PRIVATE LIMITED |
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Registered Office : |
221, Functional Industrial Estate, Patparganj, New Delhi-110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.01.2006 |
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Com. Reg. No.: |
55-145023 |
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CIN No.: [Company
Identification No.] |
U31506DL2006PTC145023 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP12401E |
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PAN No.: [Permanent
Account No.] |
AADCP7948J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer of Electronic Machinery and Components |
RATING &
COMMENTS
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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 4200 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new and small company in the field. Trade
relations are fair. Scale of activity is limited. Payments are however reported
as usually correct and as per commitments. The company can be considered good for small to mediocre business. |
LOCATIONS
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Registered Office : |
221, Functional Industrial Estate, Patparganj, New Delhi-110092, India |
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Tel. No.: |
91-11-43012150/ 53 |
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Fax No.: |
91-11-43012154 |
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E-Mail : |
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Website : |
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Branch Office : |
Block-A, No.-13, Maruthi Nilaya, 1st R- Block, Rajaji
Nagar, Bangalore-560010, Tamilnadu, India |
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Mobile No.: |
91-9343537534 |
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Fax No.: |
91-80-23576323 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Alok Gupta |
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Designation : |
Director |
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Address : |
84, Priyadarshini Appartment, A-4, Pashcimvihar, Delhi-110063, India |
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Date of Birth/Age : |
13.05.1971 |
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Date of Appointment : |
18.01.2006 |
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Name : |
Mr. Vinit Verma |
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Designation : |
Director |
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Address : |
A-1/ 401, Printer Appartment, Sector -13, Rohini, Delhi-110085, India |
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Date of Birth/Age : |
24.10.1973 |
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Date of Appointment : |
18.01.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 15.02.2008
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List of Allottees |
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No. of Shares Allotted |
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Geeta Bhargava |
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6000 |
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IICe Technologies |
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14000 |
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Total |
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20000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.000 |
BUSINESS DETAILS
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Line of Business : |
Dealer of Electronic Machinery and Components |
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Products : |
·
Chipshooter ·
Multifuncional ·
Fine Pitch ·
Odd Form |
GENERAL
INFORMATION
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Customers : |
Telecom ·
Bharti Teletech ·
Simocco Telecom IT ·
Vintron Infromatics ·
Kobian ECS ·
Cerebra ·
MRO TEK ·
TVS Electronics ·
Tata Infotech Automoabile
Electronics ·
LML ·
Napino Auto ·
India Nippon Electricals ·
Fusion electronics ·
Varroc engineering EMS ·
Flextronics ·
Solectron ·
Celetronix ·
Deltron ·
Basant ·
Sun Fibre Optics ·
Shree International ·
Avalon Technologies (Sienna Corporation) Consumer
Electronics ·
Kevin Infotech (OSCAR) ·
Dixon (WESTON) Energy Meters ·
Elymer International ·
Secure Meters Limited |
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Bankers : |
·
Citi Bank ·
IDBI Bank ·
Syndicate Bank ·
Oriental Bank of Commerce |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sanjeev Bhargava and Associates Charted Accountant |
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Address : |
202, Anarkali Complex, Jgandewalan Extension, New Delhi, Delhi-110055,
India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
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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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.745 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
[0.006] |
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NETWORTH |
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0.845 |
0.094 |
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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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1.486 |
0.000 |
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TOTAL BORROWING |
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1.486 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.001 |
0.000 |
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TOTAL |
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2.332 |
0.094 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.490 |
0.000 |
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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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1.500 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.196 |
0.000 |
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Sundry Debtors |
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0.906 |
0.000 |
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Cash & Bank Balances |
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1.702 |
0.304 |
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Other Current Assets |
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0.698 |
0.000 |
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Loans & Advances |
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0.680 |
0.000 |
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Total
Current Assets |
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4.182 |
0.304 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.216 |
0.236 |
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Provisions |
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0.651 |
0.004 |
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Total
Current Liabilities |
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3.867 |
0.240 |
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Net Current Assets |
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0.315 |
0.064 |
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MISCELLANEOUS EXPENSES |
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0.027 |
0.030 |
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TOTAL |
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2.332 |
0.094 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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10.175 |
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Other Income |
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0.000 |
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Total Income |
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10.175 |
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Profit/(Loss) Before Tax |
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1.216 |
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Provision for Taxation |
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0.470 |
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Profit/(Loss) After Tax |
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0.746 |
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Total Expenditure |
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8.959 |
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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7.33 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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11.95 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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151.05 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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1.44 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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6.33 |
2.55 |
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Current Ratio (Current Asset/Current Liability) |
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1.08 |
1.27 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from 145,
LGF Anarkali Complex, Jhandewalan Extension, New Delhi-55, India to present
address w.e.f 02.03.2007
AS PER WEBSITE:
HISTORY:
Subject, is a
one-stop fully integrated supplier of electronic manufacturing equipment and services
to the PCBA ( Surface Mount Technology ) Industry. PROSEM was formed by a team
of individuals with vast experience in PCBA industry.
THE MISSION : To enable the Customers to be more cost
efficient and competitive in accordance with their long term business
objectives and their competitive scenario.
Profile:
PROSEM Technology was established in the year
2002 by individuals working formerly with Philips Electronic Manufacturing
Technology (EMT). The company was established with the support of Assembleon
(formerly PHILIPS Electronic Manufacturing Technology – EMT) to provide world
class Assembleon products and services to the electronic manufacturing industry
in the Indian subcontinent
PROSEM’s head office is in New Delhi to cater
to the customers in the Northern and Eastern part of India , and another office
in the Silicon Valley of India – Bangalore to cater to the customers in the
Southern and Western part of India . In the past few years, PROSEM has emerged
as a leading supplier of the electronic manufacturing equipment and services,
having added other products to it’s product portfolio like Solder Paste
Printers, Reflow Ovens, peripheral equipment such as Solder Paste Height
Measurement machine, Video Microscopes, AOIs, Stencil Cleaners, etc. In
addition, PROSEM has tie up with one of the world leading manufacturer of spare
parts of Auto Insertion machines of all brands.
At PROSEM, they believe in customer satisfaction. The company has 90% of its
technical staff consisting of Young and Dynamic engineering professionals.
PROSEM is also the outsourcing partner for Assembleon BV.,
the Netherlands for it’s offline machine programming requirements and software
application support (Line configuration).
At PROSEM they believe in Value
Added Solutions and not only products. The technical staff is fully trained by
the principals, at their training sites, with hands on experience in production
environments. They try to give world class support with minimum downtime
starting from pre-sales support to after sales support.
Support:
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Professional support round the clock, around the corner
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The route to high revenues
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Support in line with the total line demands
Comprehensive support
At Prosem, they safeguard the performance of the equipment investment
by providing a complete range of services: from turn-key project management of
the installation of complete flowlines to sophisticated operational support and
training. Whether it concerns a single system or a complete flowline, you can
tune a service package precisely configured to meet the individual needs.
Comprehensively.
In tune with the business
The requirements may vary, depending on the size of the facility
and in-house capabilities, as well as changes in the market and production demands.
The Customer Support department is always available to support you with first
line services or to back up the in-house maintenance department. In this way
Prosem works with you to provide services on demand, matching the requirements
precisely, attuned to the dynamic manufacturing process.
Maximize the up-time
For consistently high productivity levels on the flowline, you’ll want to
maintain the equipment in the best possible condition. Operational Services
from Prosem ensure maximized up time, resulting in lower placement costs that
give you a competitive edge. Because the support needs vary, Prosem offers you
the pick of scalable service packages. You can choose guaranteed levels of
service, so that the support you get is always aligned with the individual
needs. For the lifetime of all of the SMT equipment you can always rely on
Prosem’s Services on Demand .
Coverage
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Individual machines
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Hardware
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Multiple brands
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Software
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Entire flowlines
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New & existing machines
Optimize the machine placement
From project management to the start-up of the new equipment, Prosem offers
structured services to help you get more out of the investment. Efficient
installation and start-up support contributes directly towards profitability.
That’s why our experienced professionals carefully plan each phase, addressing
all the related electrical, mechanical, environmental and organizational
issues. With a choice of installation services to smooth the way, you’re
prepared for optimal performance, right from start-up.
Benefits
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Clear project overview
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Faster start-up
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Controlled process
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Efficient machine utilization
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Guaranteed functionality
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Improved productivity
General
Overview:
Assembleon develops, assembles, markets and distributes a diverse
range of Surface Mount Technology (SMT) placement equipment and provides a
broad range of related services. Assembleon- formerly known as Philips
Electronic Manufacturing Technology (EMT), is a 100% subsidiary of Royal
Philips Electronics.
Assembleon ranks among the leaders in the design and manufacture of
surface-mount pick-and-place equipment for the global electronics industry.
Customers are Original Equipment Manufacturers (OEM),
Original Design Manufacturers (ODM) and Contract Equipment Manufacturers (CEM),
using Assembleon machines to place Surface Mount Devices and a great variety of
electronic components, on Printed Circuit Boards (PCBs). PCBs are used in most
modern electronic applications, including mobile telephones, computers and consumer
and automotive electronics.
Assembleon Headquarters as well as the International Competence Center is based
in Veldhoven (near Eindhoven), the Netherlands, and has a strong global
presence with a broad network of sales and support offices in Asia-Pacific, USA
and Europe.
Through this global company network, Assembleon can offer its customers direct
support 24 hours a day, 365 days a year.
Sales and Service Centre:
Next to products, a key success factor of the company are the strength of the
regional Sales and Service centers, whose close cooperation provides a full
global sales and service network.
With its own highly skilled sales and support staff, Assembleon is fully
equipped to sell added value products and services needed in the High and Ultra
High Volume market, while the agent network, built and managed carefully over
the past decade, provides Assembleon with a strong, indirect sales force for
the Medium Volume market.
Ching Yi Crafting : Profile:
Established in 1989, Ching Yi Crafting has made inroads into
the global market. Today, Ching Yi Crafting is one of the leading small
precision parts manufacturer located in Singapore. It specializes in high
quality but low cost nozzles and replacement parts for SMT.
SMT
RELATED EQUIPMENT
·
SMT Pick and Place Nozzles
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SMT Miscellaneous Parts
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Auto Inserts Parts
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Other Consumables
·
Custome Made Tools and Nozzles
Genetic : Profile:
Genitec was founded in 1993 with high technology and
excellent experience in providing related equipment for SMT, PCB and Automation
industry.
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Genitec offers a
broad range of Equipment to ensure the best and complete service for electronic
industry, including:
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SMT related equipment
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PCB equipment
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Automation control system equipment
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UPS&AVR
“Best product with earnest service” is the company’s
philosophy and has been deeply praised by customers. They take pride in the
satisfied customers with their expansion needs and providing the best response
possible. High market share and ISO 9001 international certification is the
best proof of the efforts.
SMT RELATED EQUIPMENT
●
GAM 12 SMD Chip Counter
● GAM 20
Calibration Jig
● GAM 70 Laser
Vision Measurement
Assembleon Products:
High-volume chipshooting operators with lower cost per
placement, reduced machine maintenance, machine downtime and superior ppm
performance.
This revolutionary component pick and placement platform
leaves the competition far behind and definitely sets the standard of the way
electronics manufacturers in the 45k cph to150k cph (IPC specification 30k cph
to 100k cph) throughput range will be acquiring SMT production capacity over
the next decade.
With the in 2003 new launched A-Series Platform, Assembléon
presents a new blueprint for manufacturing flexibility.
With the FCM Multiflex, changeovers can be done within 5
minutes. All online activities are highly automated, require no tools and are
designed such that operators can repeatable perform reliable changeovers.
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.46.28 |
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UK Pound |
1 |
Rs.85.92 |
|
Euro |
1 |
Rs.68.11 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
27 |
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 |
|