MIRA
INFORM REPORT
|
Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SPACE TELELINK LIMITED |
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Registered
Office : |
139 Tarun Enclave, Pitampura, Delhi 110034 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.05.2009 |
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Com. Reg. No.: |
190648 |
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Capital
Investment / Paid-up Capital : |
Rs.79.909 millions |
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CIN No.: [Company Identification
No.] |
U64200DL2009PLC190648 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS38990A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturers, wholesale suppliers and exporters of a vast range of Antennas,
IBS Accessories, BTS Installation Material, RF Connectors, Jumpers and
ancillaries etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 72800 |
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Status : |
New Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and establishing itself gradually.
The company has successfully achieved a sizeable turnover in its first year
of operation. Trade relations are fair. Business is active. Payments are
reported to b slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
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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 |
LOCATIONS
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Registered Office : |
139 Tarun Enclave, Pitampura, Delhi 110034, India |
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E-Mail : |
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Corporate Office : |
L 1, Udyog Nagar, Peera Garhi, New Delhi 110041, India |
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Tel. No.: |
91-11-25489700 / 25489800 |
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Fax No.: |
91-11-47586010 |
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Branches : |
No. 340/A, 2nd Floor, 4th Cross, 10th
Main Indira Nagar, 2nd Stage, Bangalore 560038, Karnataka, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ankit Goel |
|
Designation : |
Director |
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Date of Birth/Age : |
09.04.1984 |
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Date of Appointment : |
26.05.2009 |
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Name : |
Mr. Ram Gopal Goyal |
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Designation : |
Director |
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Date of Birth/Age : |
27.08.1957 |
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Date of Appointment : |
26.05.2009 |
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Name : |
Mr. Vinay Goyal |
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Designation : |
Director |
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Date of Birth/Age : |
14.08.1982 |
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Date of Appointment : |
26.05.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ankit Goel |
7300900 |
|
Ram Gopal Goyal |
10000 |
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Vinay Goyal |
10000 |
|
Pushpa Goyal |
5000 |
|
Savita Goyal |
5000 |
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Vinod Goya |
5000 |
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Ashok Goyal |
5000 |
|
G K Footcare (India) Private Limited, Delhi |
650000 |
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Total |
7990900 |
AS ON 30.09.2010
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Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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Bodies corporate |
|
8.13 |
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Directors or relatives of directors |
|
91.87 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, wholesale suppliers and exporters of a vast range of
Antennas, IBS Accessories, BTS Installation Material, RF Connectors, Jumpers
and ancillaries etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of India, 2631, Bank Street, Karol Bagh, New Delhi 110005, India |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G M R and Company Chartered Accountant |
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Address : |
25/39, West Patel Nagar, New Delhi 110008, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10 each |
Rs. 80.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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7990900 |
Equity Shares |
Rs. 10 each |
Rs.79.909 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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11.509 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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|
6.701 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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18.210 |
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LOAN FUNDS |
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1] Secured Loans |
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32.592 |
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2] Unsecured Loans |
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6.846 |
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TOTAL BORROWING |
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39.438 |
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DEFERRED TAX LIABILITIES |
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3.074 |
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TOTAL |
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60.722 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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78.428 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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43.423 |
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Sundry Debtors |
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53.899 |
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Cash & Bank Balances |
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|
0.319 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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|
9.364 |
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Total
Current Assets |
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107.005 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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51.346 |
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Other Current Liabilities |
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72.621 |
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Provisions |
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|
0.919 |
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Total
Current Liabilities |
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124.886 |
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Net Current Assets |
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(17.881) |
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MISCELLANEOUS EXPENSES |
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0.175 |
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TOTAL |
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60.722 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2010 |
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SALES |
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Sales |
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137.340 |
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Other Income |
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5.473 |
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TOTAL (A) |
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142.813 |
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Less |
EXPENSES |
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Cost of Materials |
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112.082 |
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Administrative Expenses |
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16.757 |
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TOTAL (B) |
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128.839 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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13.974 |
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Less |
FINANCIAL
EXPENSES (D) |
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2.872 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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11.102 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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1.173 |
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PROFIT BEFORE
TAX (E-F) (G) |
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9.929 |
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Less |
TAX (H) |
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3.228 |
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PROFIT AFTER TAX
(G-H) (I) |
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6.701 |
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Earnings Per
Share (Rs.) |
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8.50 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2010 |
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PAT / Total Income |
(%) |
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4.69 |
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Net Profit Margin (PBT/Sales) |
(%) |
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7.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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5.35 |
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Return on Investment (ROI) (PBT/Networth) |
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0.54 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.19 |
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Current Ratio (Current Asset/Current Liability) |
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0.85 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
·
Air Conditioner
·
Car
·
Scooter / Bike
·
Telephone and Camera
·
Cycle
·
Furniture and Fixture
·
Computer
·
Office Equipment
·
Generator
·
Plant and Machinery
·
Trade Mark
·
Know How
FORM 8
|
Corporate
identity number of the company |
U64200DL2009PLC190648 |
|
Name of the
company |
SPACE TELELINK LIMITED |
|
Address of the registered
office or of the principal place of
business in |
139 Tarun Enclave, Pitampura, Delhi 110034, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Bank of India, 2631, Bank Street, Karol Bagh, New Delhi 110005, India Email: akandco@hotmail.com |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated 15.01.2011 |
|
Date of
instrument Creating the charge |
15.01.2011 |
|
Amount secured by
the charge |
Rs. 60.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest On Fund Based: 4%
over Base Rate (Presently 13% p.a. with monthly rests), On Non Fund Based: As
per Bank's Norms Terms of repayment Payable on Demand Margin Stock-25%, Book
Debts-30%, LC-10%, Buyer's Credit-25%, BG-20% Extent and operation of the charge 100% Other To secure various
credit facilities amounting to Rs. 60.000 millions. The details are as
follows A). Fund Based:
i) Cash Credit (Stock): Rs. 30.000 millions, ii) CC (Book Debts)-Rs. 55.000
millions MAX (i +ii)- Rs.
55.000 millions. B). Non Fund
Based: iv) LC-(DA/DP- 90 days)- Rs. 20.000 millions, v) Buyer's Credit- Rs.
10.000 millions, vi) BG- Rs. 5.000
millions MAX (iv+v+vi) -
Rs. 20.000 millions AGGREGATE (A+B) =
Rs. 60.000 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stock and Book Debts Hypothecation of
Plant and Machinery |
|
Particulars of
the present modification |
Existing Total Credit
facilities of Rs. 50.000 millions has been enhanced to Rs. 60.000 millions.
The details are as follows A) F B: i) C C
(Stock): Rs. 30.000 millions, ii) CC (Book Debts)-Rs. 55.000 millions MAX (i
+ii)- Rs. 55.000 millions. B) Non F B: iv) LC-(DA/DP)- Rs. 20.000 millions,
v) Buyer's Credit- Rs. 10.000 millions, vi) BG- Rs. 5.000 millions MAX
(iv+v+vi) - Rs. 20.000 millions
AGGREGATE (A+B) = Rs. 60.000 millions. Intt. 4% over Base Rate (i.e.
13% p.a. with monthly rests). Other Terms and Conditions remain the same. |
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.44.93 |
|
|
1 |
Rs.72.42 |
|
Euro |
1 |
Rs.63.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.