MIRA
INFORM REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ELEKTRONIK LAB |
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Registered
Office : |
R/13, Navroz Baug, Lalbaug, Mumbai – 400012, |
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Country : |
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Financials (as on)
: |
31.03.2010 |
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Year of
Establishment : |
1973 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Sales and Service of Marine Communication, Navigation and Safety Equipments
based on Radio and Satellite Communication. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4000 |
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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 a well established partnership concern having satisfactory
track records. 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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
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Name : |
Mr. Prabhu |
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Designation : |
Office Staff |
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Contact No.: |
91-44-2436953 |
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Date : |
18.01.2011 |
LOCATIONS
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Registered Office : |
R/13, Navroz Baug, Lalbaug, Mumbai – 400012, |
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Tel. No.: |
91-22-24715115 |
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Fax No.: |
91-22-24710444 |
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E-Mail : |
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Website : |
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Office / Service
Centre: |
3, Ali House, Ram Nagar, Byculla, Mumbai–27, |
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Tel. No.: |
91-22-23730125 |
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Fax No.: |
91-22-23780787 |
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E-Mail : |
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Sales & After
Sales Service Offices in |
Chennai Phone : 91-44-24336953 Fax No.: 91-44-24322819 |
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Branches : |
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PARTNERS
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Name : |
Mr. Bahadur M Sanjana |
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Designation : |
Partner |
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Name : |
Mr. Leslie Isaac |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Prabhu |
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Designation : |
Office Staff |
BUSINESS DETAILS
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Line of Business : |
Sales and Service of Marine Communication, Navigation and Safety
Equipments based on Radio and Satellite Communication. |
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Agencies Held : |
AC Marine is based in
Kelvinring 52C 2952 BG Alblasserdam the
Fax No.: +31 (0)78 692 0990 Email: sales@alphatronmarineparts.com Alphatron Marine Parts is a worldwide group of companies specializing in the global distribution of marine radar spare parts and other marine products. With offices and warehouses all around the world and a large variety of microwave components and electronics in stock, they are able to satisfy even the most needs on time. As the sole and global distributor of EEV marine radar
magnetrons and components, they stock all the marine radar products made by
the manufacturer of EEV marine radar products, e2v technologies.
Västra Finnbodavägen
2-4, P.O. Box 5028, SE-131 05 Nacka, Sweden Consilium Marine and Safety AB Fire and Gas Marine
Division, Salsmästaregatan 21, P.O. Box 8763, SE-402 76 Gothenburg, Transport Safety Division Navigation Division
Via Per
Cantalupo,5 - 21040 Origgio (VA) – CTE Digital Broadcast, with premises in Euronav Limited Email: sales@euronav.co.uk |
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Imports : |
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Products : |
Marine equipment |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 Million (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs.1.000 Million (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
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Sales Turnover (Approximately) |
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500.000 |
LOCAL AGENCY FURTHER INFORMATION
PROFILE
Established in 1973 the company today is a distinguished entity with an impressive record of growth and professional excellence. The company has significant all India business interest with its Registered Office / Service Centre placed in Mumbai along with Sales and After Sales Service Offices at Chennai, Kochi, Vishakhapatnam, Port Blair, Tuticorin, Jamnagar and Kolkata.
Subject is a reputable company dealing with the Sales and Service of Marine Communication, Navigation and Safety Equipments based on Radio and Satellite Communication. Subject is an ISO 9001: 2000 Registered and Certified Firm.
Subject is a partnership
firm business, (Partners are Mr. Bahadur B Sanjana and Mr. Leslie Isaac) with
its roots firmly planted in all major ports of
They are staffed with knowledgeable professionals to help customers determine
the best solutions for their needs. Having years of experience in the
electronic communications field helps subject provide the capability, along
with personnel that are Ministry of communication licensed and certified by the
Indian Ministry of communication (wireless planning wing).
Over the past few years subject has built up a significant reputation as a full line system integrator for marine communications, Satellite communication and Bridge equipments from GPS to GMDSS, from Simulators to satellite Communication equipment. Subject was formed to pursue opportunities in the marine electronics sector.
Today subject is one of
Subject designs and integrates complex communications systems, and of course, also ensures that these are optimally maintained. By combining technological expertise in the field of satellite communication and navigation coupled with a nation wide after sales support, subject is a one-stop shop for all ship owners and ship managers to buy and maintain mandated SOLAR equipments and other communication and navigational aids.
In 1997, encouraged by the potential of the GMDSS market
opportunity subject decided to pursue a more aggressive expansion strategy,
teaming up with an experienced and credible partner in the South of India to
set up offices in
Always being first in the market has been subjects strength and be it GMDSS or AIS or ECDIS subject are pioneers and are well known in India as the company who can be relied on to supply and install equipments that meet the ever changing IMO and SOLAS requirements.
In 2002 in recognition of subject hunger for new technology and entrepreneurship subject partners were awarded the "Seafarer Entrepreuner" of the year. A prestigious award given by the then Minister of Shipping in a glittering function put together by Sailor Today.
Subject Service Centre has teamed up with a number of major manufacturers to provide all customers with the best possible service and support for marine electronic products. Working together through their network of Service Points their aim is to provide a fast, guaranteed, high quality repair service specifically designed for the marine industry. Installation, service, and support before and after the sale are all crucial elements in providing customers with a totally functional system. Prompt customer service and support is subject highest priority. They pride themselves in being the most knowledgeable and best equipped service centre for most of the manufacturers that they represent.
They procure, manufacture or import equipment as follows and help the marine industry:
- GMDSS Communication Equipment Sales and Service.
- Satellite Communication Equipment Sales and Service.
- Satellite Airtime and Radio Accounting.
- Satellite TV Solutions for Ships (with stabilized platform).
- VSAT Solutions for Offshore (with stabilized platform).
- Navigation Equipment Sales and Service.
- Maritime,
Land
- Complete AIS / VTS Solutions.
- Non Directional Beacons for Air Strips and Offshore.
- High Power and Broadcast Transmitters.
- Maritime Aeronautical and Land - Mobile Satellite Communications.
- SRC Surveyors.
- GMDSS Training Simulators.
- Conning Position Display Solutions.
- Integrated Bridge Navigation Solutions for All Types Of Vessels.
- ROC ARPA / RADAR Simulations.
- LCHS Simulations.
- Ship Handling Simulations.
- Weather Stations.
- Training Solutions for Master Mariners.
They are licensed to do the following:
Licenses and other
Certificates
- Experimental Station License for repairs of Radio Equipments.
- VHF Base and VHF Hand Held sets with Engineers.
- D / F Calibration.
- Dealers Possession License.
- Amateur Station License.
- DG
Shipping Approved GMDSS
- DG Shipping Approved Safety Equipment Service Station.
- DG Shipping Approved Workshop for Service of Communication and Navigation Equipments.
- ISO
9001 – 2000 Certified by DNV Certification B.V. The
- Registered with M. O. for Supply of Equipments to the Indian Navy.
- Registered
with LP Cell and CGHQ for Supply of Equipments to the
Products developed by Electronik lab
- GPS / Gyro
NMEA Converter
Make : Elektronik Lab Model : Jupiter 25 D
- Universal
Data Converter
Make : Elektronik Lab Model : UDC 369
- Simplified
Voyage Data Recorder
Make : Elektronik Lab Model : DAU 3100
- Remote
Display / NMEA Repeater
Make : Elektronik Lab Model : SS 27
- Automatic
Keying Device
Make : Elektronik Lab Model : AKD 616
Staff authorized
by the government of
- Mr. K. Nandakumar
- Mr. T. S. Rangarajan
- Mr. M.D. Ramachandran Nair
- Mr. M. Baluamalanathan
- Mr. S. Krishnan
- Mr. J. F.
Kumar
The following
technician(s) based on their qualification, experience and training are
considered appropriate of carrying out radio surveys.
- Mr. Leslie Isaac
- Mr. Bahadur b. Sanjana
- Mr. Balbir
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
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|
1 |
Rs.72.71 |
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Euro |
1 |
Rs.61.15 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.