MIRA
INFORM REPORT
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Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
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Name : |
LABORATORY FOR ELECTRO OPTIC SYSTEMS |
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Registered
Office : |
A-6, Peenya Industrial Estate, |
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Country : |
India |
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Year of
Establishment : |
June 1972 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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Legal Form : |
Government
Department |
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Line of Business
: |
The centre engaged in design, development and production of
Electro-optic sensors and camera optics for satellites. |
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No of Employees
: |
16423 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a Government of India undertaking centre under the control of
Department of Space. The centre engaged in design, development and production
of Electro-optic sensors and camera optics for satellites. Trade relations
are fair. Payments are correct and as per commitments. Subject can be considered good for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (PARTIAL DETAILS)
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Name : |
Mr. Subramaniam |
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Designation : |
Purchase Manager |
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Contact No.: |
91-80-28398836 |
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Date : |
25.11.2011 |
LOCATIONS
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Registered Office : |
A-6, Peenya Industrial Estate, |
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Tel. No.: |
91-80-23722563 / 23722564 / 28398836 |
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Fax No.: |
Not Available |
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Website : |
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ISRO Centers : |
Located At ·
Chandigarh ·
New Delhi ·
Dehradun ·
Bhopal ·
Ahmedabad ·
Nagapur ·
Tirupati ·
Hassan ·
Bangalore ·
Thiruvananthapuram ·
Mahendrogiri ·
Kharagpur ·
Shilling ·
Lucknow ·
Hyderabad |
MANAGEMENT
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Name : |
Dr. K Radhakrishnan |
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Designation : |
Chairman |
KEY EXECUTIVES
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Name : |
Mr. Subramaniam |
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Designation : |
Purchase Manager |
BUSINESS DETAILS
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Line of Business : |
The centre engaged in design, development and production of
Electro-optic sensors and camera optics for satellites |
GENERAL INFORMATION
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No of Employees
: |
16423 (Approximately) |
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Bankers : |
State Bank of India, New Delhi, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
FINANCIAL DATA
[all figures are in
Rupees Millions]
No financials are available for such Government owned department.
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
------- |
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8. No. of Employees |
No |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
No |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
No |
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14. Estimation for coming financial year |
No |
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15. Capital in the business |
No |
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16. Details of sister concerns |
No |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
No |
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20. Export / Import details |
No |
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21. Market information |
------ |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
No |
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24. Banking facility details |
No |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
------ |
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29. Last accounts filed at ROC |
------ |
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30. Major Shareholders, if available |
------ |
WEB SITE DETAILS
INTRODUCTION
Space activities in the country started during early 1960s with the
scientific investigation of upper atmosphere and ionosphere over the magnetic equator
that passes over Thumba near Thiruvananthapuram using small sounding rockets
Realising the immense potential of space technology for national development, Dr.
Vikram Sarabhai, the visionary leader envisioned that this powerful
technology could play a meaningful role in national development and solving the
problems of common man.
Thus, Indian Space programme born in the church beginning, space
activities in the country, concentrated on achieving self reliance and
developing capability to build and launch communication satellites for
television broadcast, telecommunications and meteorological applications;
remote sensing satellites for management of natural resources.
The objective of ISRO is to develop space technology and its application
to various national tasks. Accordingly, Indian Space Research Organisation
(ISRO) has successfully operationalised two major satellite systems namely
Indian National Satellites (INSAT) for communication services and Indian Remote
Sensing (IRS) satellites for management of natural resources; also, Polar
Satellite Launch Vehicle (PSLV) for launching IRS type of satellites and
Geostationary Satellite Launch Vehicle (GSLV) for launching INSAT type of
satellites.
The Space Commission formulates the policies and oversees the
implementation of the Indian space programme to promote the development and
application of space science and technology for the socio-economic benefit of
the country. DOS implements these programmes through, mainly Indian Space
Research Organisation (ISRO), Physical Research Laboratory (PRL), National
Atmospheric Research Laboratory (NARL), North Eastern-Space Applications Centre
(NE-SAC) and Semi-Conductor Laboratory (SCL). The Antrix Corporation,
established in 1992 as a government owned company, markets the space products
and services
ISRO SATELITE CENTRE (ISAC)
ISAC at Bangalore is engaged in developing satellite technology and
implementation of satellite systems for scientific, technological and
application missions. ISAC is functionally organised into five major areas:
mechanical systems area including structures, thermal systems and spacecraft
mechanisms; digital and communications area including digital systems and
communication systems; integration and power area comprising spacecraft
checkout, systems integration and power systems; controls and mission
area consisting of control system, mission development and computer and
information; and facilities. Reliability and components area and programme
planning and evaluation group provide relevant support to the centre. Project
management teams co-ordinate the implementation of INSAT and IRS projects.
Space astronomy and instrumentation division is engaged in space science
activities. ISRO Satellite Integration and Test Establishment (ISITE) including
a Comprehensive Assembly, Test and Thermo-vacuum Chamber (CATVAC) provide
necessary support for qualification of sub-systems and systems to meet the
requirements of space environment.
Achievements include design and development of more than 50 satellites so far
of various types like scientific, communication and remote sensing.
LAUNCH VEHICLES
Launch Vehicles
are used to transport and put satellites or spacecrafts into space. In India,
the launch vehicles development programme began in the early 1970s. The first
experimental Satellite Launch Vehicle (SLV-3) was developed in 1980. An
Augmented version of this, ASLV, was launched successfully in 1992. India has
made tremendous strides in launch vehicle technology to achieve self-reliance
in satellite launch vehicle programme with the operationalisation of Polar
Satellite Launch Vehicle (PSLV) and Geosynchronous Satellite Launch Vehicle
(GSLV).
PSLV represents
ISRO's first attempt to design and develop an operational vehicle that can be
used to orbit application satellites. While SLV-3 secured for India a place in
the community of space-faring nations, the ASLV provided the rites of passage
into launch vehicle technology for ISRO. And with PSLV, a new world-class
vehicle has arrived. PSLV has repeatedly proved its reliability and versatility
by launching 52 satellites / spacecrafts ( 25 Indian and 27 Foreign Satellites)
into a variety of orbits so far.
ISRO also makes
the Rohini series of sounding rockets used by the Indian and international
scientific community to launch payloads to various altitudes for atmospheric
research and other scientific investigations. These rockets are also used to
qualify some of the critical systems used for advanced launch vehicles.
MANAGEMENT
DR. K RADHAKRISHNAN
Dr.
K. Radhakrishnan; the current Chairman of Space Commission, Secretary,
Department of Space, Government of India and Chairman of ISRO; is a technocrat
par excellence; a dynamic and result-oriented Manager with very fine personal
and inter-personal qualities; an astute Institution-builder with a strategic
vision; an able Administrator with a positive attitude; and an inspiring Leader
credited with nurturing leadership skills in the younger generation. He has had
a distinguished career adorned with accomplishments that spans beyond 39 years
in space technology, applications and space programme management.
Dr. Radhakrishnan
was born on 29 August, 1949 at Irinjalakuda, Kerala. He graduated in Electrical
Engineering from Kerala University (1970), completed his PGDM from IIM
Bangalore (1976) and was awarded Doctorate for his thesis titled “Some
Strategies for Indian Earth Observation System” from IIT Kharagpur (2000).
Starting his career
as an Avionics Engineer in 1971 at ISRO’s Vikram Sarabhai Space Centre, Trivandrum;
he commendably held several decisive positions in ISRO such as Project Director
for setting up Regional Remote Sensing Centers (1987-89); Director of Budget
& Economic Analysis for entire ISRO (1987-97); Director of National Natural
Resources Management System-Regional Remote Sensing Service Centers (1989-97);
Mission Director of Integrated Mission for Sustainable Development and Deputy
Director of National Remote Sensing Agency (1997-2000); Director of National
Remote Sensing Agency (2005-08); Director of Vikram Sarabhai Space Centre
(2007-09); and Member, Space Commission (October 2008-October 2009)) with some
responsibilities in concurrence. During 2000-05 he had a stint in the Ministry
of Earth Sciences as the Founder Director of Indian National Centre for Ocean
Information Services and the first Project Director of Indian National Tsunami
Warning System. He also held several important positions at the international
level including Vice Chairman of Intergovernmental Oceanographic Commission (2001-05),
Founder Chairman of Indian Ocean Global Ocean Observing System (2001-06) and
Chairman of the Working Group of the Whole UN-COPUOS STSC (2008-2009).
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 52.16 |
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|
1 |
Rs. 81.28 |
|
Euro |
1 |
Rs. 69.47 |
RATING EXPLANATIONS
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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 |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.