MIRA
INFORM REPORT
|
Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
LUMINOUS TELEINFRA LIMITED |
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Registered
Office : |
C-8, C-9, C-Block, Community Centre, Near Janak Cinema , Janakpuri, New
Delhi – 110058, Delhi |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
29.04.2008 |
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Com. Reg. No.: |
55-177383 |
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CIN No.: [Company Identification
No.] |
U32204DL2008PLC177383 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELL03884G |
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PAN No.: [Permanent Account No.] |
AABCL4552A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the business of providing infrastructure
solutions for telecommunication and other energy intensive applications. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. There appears to be huge
accumulated losses recorded by the company. However, trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business on a secured 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 |
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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
|
Name : |
Mr. Rajeev Kapoor |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-11-40778332 |
|
Date : |
23.02.2011 |
LOCATIONS
|
Registered Office : |
C-8, C-9, C-Block, Community Centre, Near Janak Cinema , Janakpuri,
New Delhi – 110058, Delhi, India |
|
Tel. No.: |
91-11-40778332 / 40778221 |
|
Fax No.: |
91-11-25558912 |
|
E-Mail : |
info@luminousteleinfra.com
(General Information) sales@luminousteleinfra.co
(Business Inquiries) hr@luminousteleinfra.com
(Careers) |
|
Website : |
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|
Area : |
3000 Sq.ft. (Approximately) |
|
Location : |
Owned |
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|
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|
Corporate Office : |
Plot No.121, Sector – 5, IMT Manesar, Haryana – 122050 |
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Tel. No.: |
91-124-4633500 / 4633598 |
|
Fax No.: |
91-124-4633599 |
DIRECTORS
As on 01.08.2009
|
Name : |
Mr. Madanlal Malhotra |
|
Father’s / Husband’s Name: |
Shri J.S. Malhotra |
|
Designation : |
Director |
|
Address : |
D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
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Date of Birth/Age : |
05.01.1934 |
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Date of Appointment : |
29.04.2008 |
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Din : |
01118507 |
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|
Name : |
Mr. Rakesh Malhotra |
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Father’s / Husband’s Name: |
Shri M.L.Malhotra |
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Designation : |
Director |
|
Address : |
D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
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Date of Birth/Age : |
09.06.1962 |
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Qualification : |
B.E. |
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Date of Appointment : |
29.04.2008 |
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Din : |
00322648 |
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|
|
|
Name : |
Mr. Navneet Kappor |
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Designation : |
Director |
|
Address : |
B-311, Panchwadi Apartments, Vikas Puri, |
|
Date of Birth/Age : |
05.10.1970 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
29.04.2008 |
|
Din : |
00034357 |
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|
|
Name : |
Mr. Virendra Kumar Garg |
|
Designation : |
Director |
|
Address : |
A-119, Shivalik New Delhi-110017, |
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Date of Birth/Age : |
06.02.1942 |
|
Date of Appointment : |
21.07.2008 |
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Din : |
02253184 |
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|
|
|
Name : |
Mr. Paresh C. Pradhan |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.612, Plot no. 5, Sector – 9, WTPBE Apartments, Dwarka, New
Delhi-110045, |
|
Date of Birth/Age : |
20.05.1967 |
|
Qualification : |
Electronic Engineer |
|
Date of Appointment : |
21.07.2008 |
|
Din : |
02259057 |
|
|
|
|
Name : |
Mr. Chandrmohan N. Navalekar |
|
Designation : |
Director |
|
Address : |
F-1-212, Jumbo Darshan, Andheri (East), Mumbai – 400069, |
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Date of Birth/Age : |
05.06.1944 |
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Qualification : |
Master Degree in Instrumentation Control Computers |
|
Date of Appointment : |
21.07.2008 |
|
Din : |
02259125 |
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|
|
|
Name : |
Mr. Dirk Walter Stefan Uhlemann |
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Designation : |
Additional Director |
|
Address : |
Jorg Tomlinger Strasse 23A, 82152, |
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Date of Birth/Age : |
14.06.1962 |
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Date of Appointment : |
04.10.2008 |
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Din : |
02366931 |
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|
|
|
Name : |
Mr. Arun Kumar Raghbir Lal Nagpal |
|
Designation : |
Director |
|
Address : |
68, Shivalik Apartments, Alaknanda Kalkaji, |
|
Date of Birth/Age : |
05.02.1962 |
|
Date of Appointment : |
05.03.2009 |
|
Din : |
02489685 |
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|
|
|
Name : |
Mr. Pawan Kumar Gupta |
|
Designation : |
Additional Director |
|
Address : |
1006, Urvashi-I, Amrapali Royal, 2B, vaibhav Khand, Indirapuram, |
|
Date of Birth/Age : |
10.09.1948 |
|
Date of Appointment : |
05.03.2009 |
|
Din : |
00603676 |
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|
|
|
Name : |
Mr. Rajeev Mukhija |
|
Designation : |
Director |
|
Address : |
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Date of Birth/Age : |
10.04.1968 |
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Date of Appointment : |
05.02.2009 |
|
Din : |
00051535 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Rakesh Malhotra D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
|
3049400 |
|
Mr. Madanlal Malhotra D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
|
100 |
|
Mrs. Deepika Sawhney H-249, Naraina, |
|
100 |
|
Mrs. Rashmi Nayar 216-A, DDA MIG Flats, |
|
100 |
|
Mrs. Nirupama Malhotra D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
|
100 |
|
Mr. B-311, Panchwati Apartments, Vikas Puri, |
|
100 |
|
Mrs. Laxmi Kapoor B-311, Panchwati Apartments, Vikas Puri, |
|
100 |
|
Logix Engineering SARL RUE FRITZ Courvoisier 40, 2300 La Chaux De Fonds, |
|
1927903 |
|
Total |
|
4977903 |
After 01.08.2009
|
Names of Allottes |
|
No. of Shares |
|
Mr. Rakesh Malhotra Business D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
|
7439478 |
|
Mr. Navneet Kapoor B-311, Panchwati Apartments, Vikas Puri, |
|
1839883 |
|
Mr. Navneet Kapoor B-311, Panchwati Apartments, Vikas Puri, |
|
92736 |
|
Mrs. Nirupama Malhotra D-4/32, DLF Phase-1, Gurgaon, Haryana - 122002 |
|
50000 |
|
Total |
|
9422097 |
As on 01.08.2009
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
38.72 |
|
Bodies corporate |
0.00 |
|
Directors or relatives of Directors |
61.28 |
|
Other top fifty shareholders |
0.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of providing infrastructure
solutions for telecommunication and other energy intensive applications. |
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|
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Terms : |
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Selling : |
Cash / Credit (30 days / 60 days / 90 days) |
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|
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Purchasing : |
Cash / Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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|
|
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No. of Employees : |
50 (Approximately) |
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Bankers : |
IDBI Bank Limited, |
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Facilities : |
Cash Credit – Rs.600.000 million |
|
Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Walkar Chandiok and Company Chartered Accountant |
|
Address : |
L41, Connaught Circus, New Delhi-110001, |
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Tel. No.: |
91-11-42787070 |
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Mobile No.: |
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Fax No.: |
91-11-42787071 |
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E-Mail : |
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PAN No.: |
AAAFW4298E |
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Associates/Subsidiaries : |
Address : C-8, C-9,
C-Block, Community Centre, Near Janak Cinema , Janakpuri, Activity : Manufacturing
of Solar Inverters.
Address : C-8, C-9,
C-Block, Community Centre, Near Janak Cinema , Janakpuri, Activity : Manufacturing
of Grid and Grid Connected Wind Solar.
|
CAPITAL STRUCTURE
As on 01.08.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/-each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,400,000 |
Equity Shares |
Rs.10/-each |
Rs.144.000 millions |
|
|
|
|
|
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/-each |
Rs.0.500 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
143.629 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(5.472) |
|
|
NETWORTH |
|
|
138.657 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
53.764 |
|
|
2] Unsecured Loans |
|
|
80.000 |
|
|
TOTAL BORROWING |
|
|
133.764 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
272.421 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
16.244 |
|
|
Capital work-in-progress |
|
|
157.821 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
3.150 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.209 |
|
|
Sundry Debtors |
|
|
61.769 |
|
|
Cash & Bank Balances |
|
|
78.686 |
|
|
Other Current Assets |
|
|
2.262 |
|
|
Loans & Advances |
|
|
16.532 |
|
Total
Current Assets |
|
|
159.458 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
48.488 |
|
|
Other Current Liabilities |
|
|
15.420 |
|
|
Provisions |
|
|
0.344 |
|
Total
Current Liabilities |
|
|
64.252 |
|
|
Net Current Assets |
|
|
95.206 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
272.421 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
67.728 |
|
|
|
Other Income |
|
|
0.968 |
|
|
|
TOTAL (A) |
|
|
68.696 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Traded Goods Sold |
|
|
43.054 |
|
|
|
Cost of Services Rendered |
|
|
10.472 |
|
|
|
Personnel Expenses |
|
|
9.998 |
|
|
|
Selling and Administrative Expenses |
|
|
12.688 |
|
|
|
TOTAL (B) |
|
|
76.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(7.516) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.216 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(7.732) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(8.411) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
(2.939) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
|
(5.472) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
5.472 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
120 |
|
|
Particulars |
|
|
31.03.2010 |
|
Sales Turnover |
|
|
80.000 |
|
|
|
|
|
Expected Sales ( 2010-2011 ) : Rs.100.000 millions
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2009 |
|
PAT / Total Income |
(%) |
|
|
(7.97) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(12.42) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(4.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.48 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
PERFORMANCE :
During the year the turnover of the company was Rs.68.696 million as the
loss after tax was Rs. 5.472 million. Since it is the first year of operation,
there are no comparables previous year figures
BACKGROUND :
Luminous Teleinfra Limited was incorporated as
a company in
The company is engaged in the business of
providing infrastructure solutions for telecommunication and other
energy-intensive applications. The Company is in the process of setting up
manufacturing telecom batteries, Energy management Unit, Energy Management and
Backup units, Switch mode Rectifiers, Transformers and assembly of telecom
shelters and Diesel Generator Sets. Manufacturing units are being set up at
Gagret in district Una in Himachal Pradesh and at IMT Manesar in Haryana.
FUTURE
PROSPECTS
Leveraging on its proven competence in the areas of Civil, Mechanical,
Electrical and Telecommunications engineering together with a well-honed
capability in Project Management, the company offers world class Turnkey Site
Implementation Services to telecom operators. These services are driven by the
objective of enabling telecom operators maintain competitive advantage through
faster roll-outs of their networks in addition to meeting other modern day
technological and logistical challenges.
The company serves as a single point interface to deliver a vast array
of infrastructure products and services for Mobile (GSM/CDMA/WiMax) and
Fixed-line Telecom carriers which includes- Design and Build of the Physical
Infrastructure for MSC and DC: Electrical, Power with Backup, Civil and
interiors, Environment (Air-conditioning), Networking and Connectivity, and
Physical Security and Turnkey site implementation services for BTS and BSC:
From site identification to complete site preparation along with supply and
erection of Tower, Shelter, EMU/PMU, Diesel Generator Set, Air-conditioner,
SMPS and Batteries, etc.
The Directors are confident that in pursuit of providing Innovative,
Integrated, Infrastructure solutions for telecommunication and other
energy-intensive applications, the company will provide a vast range of
products in the coming years which will have a positive impact on its turnover
besides increasing its bottom-line.
They would be pleased to know that the company’s personnel are capable
to augment the deliverables with immense value since they possess an across the
board experience - both as a vendor and as a telecom operator.
The Company is confident of providing integrated solutions to the
challenges being faced by telecom companies. As more and more networks are
being rolled out deeper and deeper, the costs of operation of the network is
one of the most significant challenges for telecom players in emerging markets.
Each location may have different grid power availability and telecom companies
need to provide for contingencies and backup such as Diesel Generator. Low
voltage / high voltage and phase missing are the other commonly encountered
power quality problems. The Company’s OPEX saving solutions have been developed
to Remove or minimize the use of Diesel Generators and Re-invent the way they
look at power usage and power conditioning.
With the Company’s leadership position in energy conversion, storage and
control technologies the company is committed to introduce innovative solutions
that will help the industry to improve efficiency, reduce energy costs and size
of the carbon footprints – all of which will help in creating shareholder value
in the near future.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U32204DL2008PLC177383 |
|
Name of the
company |
Luminous
Teleinfra Limited. |
|
Address of the
registered office or of the principal place of business in |
C-8,C-9 C-Block, Community
Centre, Near Janak Cinema, Janakpuri, New Delhi-110058, Delhi, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10145945 |
|
Type of charge |
|
|
Particular of
charge holder |
IDBI Bank Limited, Email – mv.adam@idbi.co.in |
|
Nature of
instrument creating charge |
No Instrument was
executed. A mortgage by deposit of title deeds by constructive delivery was
created by the company in favor of IDBI Bank Ltd. thereby creating second
charge on immovable assets of the company
on pari-passu basis as security for
working capital facilities of Rs.350.000 million (enhanced from Rs.250.000
million to Rs.600.000 million) together with interest etc. A copy of Declaration and Undertaking and
confirmation letter attached.. |
|
Date of
instrument Creating the charge |
07.10.2010 |
|
Amount secured by
the charge |
Rs.600.000
million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- BBR plus 3.75% payable monthly Terms of Repayment
- Payable on demand/due date Margin - 25% on
stock and book-debts (up to 90 days) Extent and
Operation of the charge - Second pari passu charge on the immovable assets of
the company for due repayment of financial assistance aggregating Rs.600.000
million together with interest thereon, etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1) Industrial Plot bearing No. 8, ad
measuring 4000 sq. mtrs. in Industrial Area, Phase- 3, gagret, Tehsil -Amb,
District Una, H. P. 2) All the pieces and parcels of lands ad
measuring 11110.50 sq. mtrs. beariing khasra nos. 1883,1885/1, 1887/1 and
1887/2 situated at village Ramnagar, Tehsil -Amb, District Una, H. P. 3) Together with all buildings and structures
thereon and all plant and machinery etc. 4) Entire current assets. 5) The whole of movable assets. |
|
Date of
instrument modifying the charge |
08.09.2010 |
|
Particulars of
the present modification |
The additional working
capital facilities of Rs.350.000 million (enhanced from Rs.250.000 million to
Rs.600.000million) together with interest etc. is further secured by mortgage
on Second pari pasu charge on the immovable assets of the company. |
FIXED ASSETS :
- Computers and Printers
- Furniture and Fixture
- Plant and Machinery
- Office Equipments
- Vehicles
- Land Leasehold
- Land Freehold
- Softwares
CONTINGENT LIABILITIES :
|
For the period from 29.4.2008 to 31.03.2009 |
31.03.2009 (Rs.
in million) |
|
Debenture redemption premium payable on
80,000 optionally convertible debentures (OCDs) fully paid, which may arise
if these debenture-holders do not opt for conversion in equity shares. |
3.772 |
AS PER WEB DETAILS
Focused on providing
unique telecom application solutions that bring about reduction in energy
consumption and operating expenses, they at LTI are committed to reducing the
dependence on consumption of fossil fuels.
All their actions are aimed at becoming a brand of choice and among the top
five passive telecom infrastructure solution providers for
BOARD OF DIRECTORS
M.L. MALHOTRA, Chairman
A post graduate and retired I.A.S. officer having over 50 years of experience at
senior level with the Government of India in
RAKESH MALHOTRA, Founder Director
A graduate Engineer in Electronics and Communications with a career spanning
over 25 years contributing to the fields of design, development and marketing
of power conditioning and electronics products, telecom equipments and
projects, corporate management, human resource development, financial
management, venture negotiations and business leadership. He has prior work
experience with Siemens, Nelco (a TATA Group company), and Mitsui.
NAVNEET KAPOOR, Founder Director
A graduate Engineer in Electronics and Communications with over 16 years of
work experience. His vast experience lies in the field of Production
Management, Project Management, Procurement Management, General Management,
Strategic Management and Business Leadership.
PARESH PRADHAN, Director
A graduate Engineer in Electronics and Communication with a
career spanning over 17 years in the field of product development, business
development and project management in Telecommunications, IT and Power
electronics. He has prior work experience with Thermax
C.N. NAVALEKAR, Director
A master degree in Instrumentation control computers technology from IIT,
Mumbai with 38 years of rich experience in Power Electronics RandD and System
Engineering. He has prior work experience with Emerson Network Power, TATA
Electric and NELCO in various positions in RandD departments.
Dr. V.K. GARG, Director
A doctorate in the field of physics, radio communication and worked at IIT
Delhi for his post doctorate research with over 38 years of rich experience in
Telecommunication engineering, services and operations. He has prior work
experience with SITA Telecommunications and Sprint RPG India.
DIRK UHLEMANN, Director
A graduate in Electronics and Communication Science with over 25 years
professional experience in International Business Development and Corporate
Management in Telecom and IT Industries. He has prior work experience with
Ericson and P-21 in
P.K. GUPTA, Director
With over 38 years of work experience behind him, PK Gupta holds a Masters
Degree in Commerce and LLB. He has headed major Indian Banks such as
Corporation Bank, Punjab National Bank,
KEY MANAGEMENT
RAKESH MALHOTRA, Founder Director and Group CEO
A graduate Engineer in Electronics and Communications with a career spanning
over 25 years contributing to the fields of design, development and marketing
of power conditioning and electronics products, telecom equipments and
projects, corporate management, human resource development, financial
management, venture negotiations and business leadership. He has prior work
experience with Siemens, Nelco (a TATA Group company), and Mitsui.
PARESH PRADHAN, Director and President
A graduate Engineer in Electronics and Communication with a career spanning
over 17 years in the field of product development, business development and
project management in Telecommunications, IT and Power electronics. He has
prior work experience with Thermax
C.N. NAVALEKAR, Director and CTO
A master degree in Instrumentation control computers technology from IIT,
Mumbai with 38 years of rich experience in Power Electronics RandD and System
Engineering. He has prior work experience with Emerson Network Power, TATA
Electric and NELCO in various positions in RandD departments.
RAJEEV SINGH, Executive Director - SCM and Projects
A Post Graduate in Commerce with over 25 years rich experience in project
management and supply chain management In Telecommunication and Real Estate
infrastructure business. He has prior work experience with Gillette, HFCL and
DLF.
RAJARSHI SEN, Executive Director - Renewable Solutions
A Graduate in Mechanical Engineering with over 26 years experience in the field
of Industrial Batteries and Solar-Wind Hybrid systems. His previous employments
include Exide and NTPC.
PRADEEP SHARMA, Vice President – Projects
A graduate engineer in Electronics with 22 years of rich experience. His work
experience spans across Project Management with LG. and HFCL; O and M for HFCL,
and LG; and Manufacturing and Plant Operations for companies such as LG,
Northern Digital Exchange etc.
KIRAN KORALKAR, General Manager – R and D
A master degree in Instrumentation with over 12 Years of experience in design
and development of Commercial, Industrial, Telecom and Railway grade Power
Electronics systems. He has prior work experience with Powernetics (UK), DB
Electronics and Ador.
About
SAR GROUP
SAR Group started
its operations in 1988 with revenues exceeding INR 5000.000 million in
financial year 07-08. The business interests of the Group include power
electronics, energy storage, renewable energy, engineering design and support services
to electric tools. Besides LTI, the Group includes Luminous Power Technologies
(P) Limited, Luminous
Engineering and Technology Services (P) Limited and Lectrix
Motors Limited.
It has 18 sales
and service offices and over 600 service technicians spread across
The Group’s
products are exported to 29 countries in Asia-Pacific, Middle East and Africa
with their presence in the various parts of globe viz.,
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 :
Their
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.
Their 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.45.18 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.62.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
15 |
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.