MIRA
INFORM REPORT
|
Report Date : |
18.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARIHANT SYSTEMS AND ELECTRICALS PRIVATE
LIMITED (w. e. f. 04.10.2002) |
|
|
|
|
Formerly Known
As : |
ARIHANT SYSTEMS PRIVATE LIMITED |
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Registered Office
: |
24/4866, Sheeltara House, Ansari Raod, Darya Ganj, New Delhi-110002, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.07.1988 |
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|
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Com. Reg. No.: |
11-032577 |
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|
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CIN No.: [Company Identification
No.] |
U3210DL1988PTC032577 |
|
|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA12415E |
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|
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PAN No.: [Permanent Account No.] |
AAACA1989K |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturers and Exporters of Semiconductor, electronic and other
general Purpose fuses for industrial applications, isolators, cooling devices
etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
24/4866, Sheeltara House, Ansari Raod, Darya Ganj, New Delhi-110002,
Delhi, India |
|
Tel. No.: |
91-11-23262176, 23269011, 23274427 |
|
Fax No.: |
91-11-23273554 |
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E-Mail : |
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Website : |
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Corporate Office Located At : |
v Baroda v Bangalore v Bhopal v Bhubaneshwar v Chennai v Coimbatore v Hyderabad v Jamshedpur v Kolkata v Lucknow v Ludhiana v Mumbai v Pune v Visakhapatnam |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Binu Jain |
|
Designation : |
Director |
|
Address : |
U-23, Green Park Extention,, New Delhi, 110016, Delhi, India |
|
Date of Birth/Age : |
10.02.1961 |
|
Date of Appointment : |
27.07.1988 |
|
DIN No : |
00375742 |
|
|
|
|
Name : |
Mr. Amit Jain |
|
Designation : |
Director |
|
Address : |
U-23, Green Park Extention,, New Delhi, 110016, Delhi, India |
|
Date of Birth/Age : |
11.05.1958 |
|
Date of Appointment : |
27.07.1988 |
|
DIN No : |
00375964 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Amit Jain |
|
33002 |
|
Rahul Finlease Private Limited, India |
|
50000 |
|
Chanakya Finvest Private Limited, India |
|
25000 |
|
Divya Secfin Private Limited, India |
|
20000 |
|
Varindra hosiery industries |
|
20000 |
|
Division Trading Private Limited, India |
|
50000 |
|
J. S. Properties |
|
40000 |
|
Performance Trading and Investment Private Limited, India |
|
50000 |
|
Team Plus Securities Limited, India |
|
30000 |
|
Three Dee Exim Private Limited, India |
|
100000 |
|
MKM Finsec Private Limited, India |
|
25000 |
|
Ghaniji Consul Trants Private Limited, India |
|
15500 |
|
Sony Financial Services Private Limited, India |
|
70000 |
|
Aki Organics Private Limited, India |
|
90000 |
|
Gewapur Water Purification Private Limited, India |
|
45000 |
|
Ran International Private Limited, India |
|
15000 |
|
Fastner Mercantile Private Limited, India |
|
15000 |
|
Bramhand System Private Limited, India |
|
20000 |
|
Nepostel India Private Limited, India |
|
20000 |
|
WBT- India Private Limited, India |
|
30000 |
|
Total |
|
763502 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
87.82 |
|
Directors or relatives of directors |
|
4.32 |
|
Other top fifty shareholders |
|
7.86 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Semiconductor, electronic and other
general Purpose fuses for industrial applications, isolators, cooling devices
etc. |
|
|
|
|
Products : |
v Active
Components v IGBT Drivers v Protection v Passive
Components v Fans and Blowers v Power Capacitors v Connectors and
Relays |
GENERAL INFORMATION
|
Bankers : |
v Union Bank of
India Limited, Maharashtra, India v HDFC Bank Limited,
HDFC Bank House Senapati Bapat Marg, Lower Parel (W), Mumbai-400013,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. Sharma and Associates Chartered Accountant |
|
Address : |
109, Wing-II, Hans Bhawan, 1 Bhadur Shah Zafar Marg, New Delhi-110002,
Delhi, India |
|
|
|
|
Partners : |
v Infineon v Sunon v Roseberg v Degson v Mersen v Nader v Tyco Electronics v Epcos v Ametek v Vishay |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
763502 |
Equity Shares |
Rs. 10/- each |
Rs. 7.635
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.635 |
7.635 |
6.740 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
38.966 |
36.526 |
26.615 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.601 |
44.161 |
33.355 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.964 |
9.673 |
8.868 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
8.964 |
9.673 |
8.868 |
|
|
DEFERRED TAX LIABILITIES |
0.131 |
0.140 |
0.116 |
|
|
|
|
|
|
|
|
TOTAL |
55.696 |
53.974 |
42.339 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.895 |
1.075 |
1.036 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.916
|
43.251 |
37.329 |
|
|
Sundry Debtors |
47.181
|
27.004 |
38.176 |
|
|
Cash & Bank Balances |
0.127
|
0.166 |
0.529 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
3.458
|
3.341 |
5.135 |
|
Total
Current Assets |
94.682
|
73.762 |
81.169 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.890
|
19.115 |
37.299 |
|
|
Other Current Liabilities |
2.885
|
0.738 |
1.628 |
|
|
Provisions |
1.105
|
1.010 |
0.939 |
|
Total
Current Liabilities |
39.880
|
20.863 |
39.866 |
|
|
Net Current Assets |
54.802
|
52.899 |
41.303 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.696 |
53.974 |
42.339 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
167.615 |
141.216 |
131.785 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
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TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.963 |
3.352 |
3.150 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
(0.427) |
(0.484) |
(0.285) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.536 |
2.868 |
2.865 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.097) |
(1.011) |
(1.011) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.439 |
1.857 |
1.854 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.142 |
5.285 |
3.430 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.581 |
7.142 |
5.285 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
0.239 |
0.033 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.11
|
2.03 |
2.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.70
|
3.83 |
3.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.06 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.05
|
0.69 |
1.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37
|
3.54 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U32107DL1988PTC032577 |
|
Name of the
company |
ARIHANT SYSTEMS AND ELECTRICALS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
24/4866, Sheeltara House, Ansari Raod, Darya Ganj, New Delhi-110002,
Delhi, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel
(W), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplementary
Hypothecation Agreement of Book Debts and Stock In Trade. |
|
Date of
instrument Creating the charge |
29.07.2009 |
|
Amount secured by
the charge |
Rs.30.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest
at the rate as may be communicated by the Bank from time to time. Terms of
repayment On Demand Margin As
may be stipulated by the Bank from time to time. Extent and
operation of the charge Hypothecation
by way of First Charge on Company's Book Debts and Stock In Trade etc., to
secure as a continuing security as mentioned in Column No.15 below for the
repayment of Rs.30.000 millions by the Company including principal, interest,
liquidated damages, costs, charges and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
by way of first charge over the Book Debts and Stock In Trade. |
|
Charge
identification number of the charge to be modified |
10079117 |
|
Particulars of
the present modification |
The
charge shall now stand increased from Rs.10.000 millions to Rs.30.000
millions, against security of Book Debts and Stock In Trade. |
WEB SIDE DETAILS
HISTORY
Since its inception in 1987, the Arihant Group has emerged as a leading
solution provider in Electrical / Automation components.
ARIHANT ELECTRICALS
ARIHANT SYSTEMS AND ELECTRICALS PRIVATE LIMITED
MAHADUSHI ENGINEERING COMPANY PRIVATE LIMITED
ARIHANT ELECTRICALS (AE) offers a wide variety of products which
includes active and passive components, protection components,
electromechanical products and other specialized electrical and electronic
products. AE represents around 15 MNC’s who are pioneers and very well known
brand names in their respective fields. To name a few: Infineon Technology,
Epcos , Mersen , Vishay, Wima, Sunon, CT CONCEPT, Tyco Electronics, Rosenberg,
XIian Xiwuer , Ametek Prestolite , Nader, Degson etc.
They have a team of young, dynamic and committed professional engineers,
expertise in AE product line, engaged in offering solution to industrial
segments with a vision to provide the latest state of the art products that
fulfill customers exact requirements.
The group has a strong sales network of 15 offices and 30 Channel
partners encompassing the entire subcontinent to give us as unrivalled reach to
end users and provide services to over 3500 prestigious clients at their
doorstep.
They offer in-house training as well as training at our principles sites to all
their engineers to enhance their technical knowledge in order to serve our
customers with the latest trends in technology.
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 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.45.38 |
|
|
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.61.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
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 |
|
-- |
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.