MIRA
INFORM REPORT
|
Report Date : |
08.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
MICROQUAL TECHNO LIMITED (w.e.f. 24.09.2010) |
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Formerly Known
As : |
MICROQUAL TECHNO PRIVATE LIMITED |
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Registered Office : |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road,
Andheri (West), Mumbai – 400053, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
05.08.1999 |
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Com. Reg. No.: |
11-121164 |
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CIN No.: [Company
Identification No.] |
U32200MH1999PTC121164 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM13047G |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturer for complete range of Passive Components used for
Wireless Networks. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2700000 |
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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 and reputed company having satisfactory track. Directors are reported as experience and respectable businessmen. 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) |
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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 DECLINED BY
|
Name : |
Mr. Pavan |
|
Designation : |
Accounts Department |
|
Date : |
07.03.2011 |
LOCATIONS
|
Registered Office/ Factory: |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri
(West), Mumbai - 400 053, Maharashtra, India |
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Tel. No.: |
91-22-66989381 / 23443570 |
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Fax No.: |
91-22-26360909 / 23444025/ 26366699 |
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E-Mail : |
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Website : |
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Head Office : |
3rd Floord, |
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Tel. No.: |
91-22-4041515 |
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Fax No.: |
9-22-40741590 |
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Factory 2: |
Plot No.3-4, Sector 6 IIF Pant Nagar, Rudrapur – 263153,
District U S Nagar, |
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Locations : |
Leased |
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Factory 3: |
No.100, Village Farola, |
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Locations : |
Rented |
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Factory 4: |
Located at |
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Branch Office: |
Plot No. 845, 846, Udyog Vihar, Phase V, Gurgaon, |
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Sales/ Branches Office : |
Located at : Ř
Ř
Chennai Ř
Ř
Kolkata Ř
Ř
Ř
Ř
Ř
Mohali |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mahesh Balkishan Choudhary |
|
Designation : |
Director |
|
Address : |
301, Jeevan Anand, SAB TV Lane, New Link Road, Andheri (West), Mumbai,
Maharashtra, India |
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Date of Birth/Age : |
11.03.1979 |
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Date of Appointment : |
05.08.1999 |
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|
Name : |
Mr. Sushil Choudhary |
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Designation : |
Director |
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Address : |
302, Jeevan Anand, SAB TV Lane, New Link Road, Andheri (West), Mumbai,
Maharashtra, India |
|
Date of Appointment : |
13.06.2007 |
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DIN No.: |
01436325 |
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Name : |
Mr. Varunkumar Punamchand Choudhary |
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Designation : |
Director |
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Address : |
9, Abhishek Apartments, Four Bunglows Andheri (West), Mumbai-400053, |
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Date of Birth/ Age: |
12.02.1984 |
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Date of Appointment : |
25.03.2004 |
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Name : |
Mr. Koppisetty Srinivas |
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Designation : |
Director |
|
Address : |
Flat No.304, Building No.15, Mahda Residential Complex, Oshiwara
Andheri (West), Mumbai, |
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Date of Appointment : |
28.06.2007 |
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DIN No.: |
00514607 |
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Name : |
Mr. Kumar Shiralagi |
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Designation : |
Nominee Director |
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Address : |
No. 384, 1st Cross Judges Colony, R.T. Nagar,
Bangalore-560032, |
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Date of Birth/Age : |
15.05.1962 |
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Date of Appointment : |
29.10.2007 |
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DIN No.: |
01873430 |
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Name : |
Mr. Rangarajan Sridhar |
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Designation : |
Nominee Director |
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Address : |
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Date of Birth/ Age : |
23.01.1976 |
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Date of Appointment : |
26.11.2008 |
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Nominee Company : |
JAFCO Asia Technology Investments III ( |
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DIN No.: |
02399857 |
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Name : |
Mr. Bhagwan Dass Khurana |
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Designation : |
Additional Director |
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Address : |
D-167, Whispering Meadwos, Sushant Lok-I, Gurgaon-122002, |
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Date of Birth/Age : |
12.05.1944 |
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Date of Appointment : |
30.12.2009 |
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DIN No.: |
00005581 |
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Name : |
Mr. Mithilesh Kumar Sinha |
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Designation : |
Additional Director |
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Address : |
1604, |
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Date of Birth/Age : |
02.09.1935 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
00011506 |
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Name : |
Mr. Balkirshna Radhakrisna Choudhary |
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Designation : |
Additional Director |
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Address : |
3012, Jeevan Anand, |
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Date of Birth/Age : |
15.10.1949 |
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Date of Appointment : |
25.11.2010 |
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DIN No.: |
00213490 |
KEY EXECUTIVES
|
Name : |
Mr. Pavan |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Equity Shares |
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|
Mahesh Balkishan Choudhary |
|
503000 |
|
Premchand Radhakishan Choudhary |
|
500 |
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Punamchand Radhakishan Choudhary |
|
500 |
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Balkishan Radhakishan Choudhary |
|
500 |
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Varun Premchand Choudhary |
|
503500 |
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Bimaldevi Choudhary |
|
500 |
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Sushil Choudhary |
|
502500 |
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Sushiladevi Choudhary |
|
500 |
|
Meeradevi Choudhary |
|
500 |
|
Sneh Choudhary |
|
500 |
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Prem Dyechem Industries Private Limited, Mumbai, |
|
500 |
|
Payal Choudhary |
|
500 |
|
Anshu S Choudhary |
|
500 |
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Total |
|
1514000 |
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Names of Shareholders |
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No. of Preference
Shares |
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Nea- Indo |
|
456024 |
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Jafco Asia Technology Investments OOO ( |
|
273614 |
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BTS India Private Equity Funds Limited, |
|
182410 |
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Total |
|
912048 |
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List off Allottees |
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No. of Shares Allotted |
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HAV 3 Holdings ( |
|
419717 |
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Total |
|
419717 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
|
Category |
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Percentage of
Holding |
|
Bodies corporate |
|
0.03 |
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Directors or relatives of directors |
|
99.97 |
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|
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer for complete range of Passive Components used for
Wireless Networks. |
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Products : |
Ř
RF Cables Ř
Telecom Ř
Components Ř
Ř
Base station systems Ř
Antenna systems Ř
Coverage systems Ř
WiMax Systems Ř
RF Components Ř
RF Connectors Ř
Net Working Products Ř
Fibre Optic Products Ř
Transmission Lines Ř
RF Conditioning and Site Optimization
Products Ř
BTS Mechanical Ř
BTS Electrical Ř
WiMax Kit Ř
Microwave Kit Ř
Software solutions |
GENERAL INFORMATION
|
Customers : |
Ř
Hutchison Max - Ř
Hutch - Ř
Airtel - Ř
BPL - Ř
Hughes Tele.com - Ř
Shyam Telelink - Rajasthan Ř
TATA Cellular - Ř
Spice Telecom - Ř
RPG Cellular - Chennai |
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No. of Employees : |
Not Divulged by the Management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S R Batliboi and Company Chartered Accountant |
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Address : |
Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai-400013,
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Tel No.: |
91-22-40356300 |
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Fax No.: |
91-22-40356400 |
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Subsidiaries : |
Microqual Coverage Solutions Private Limited U72200MH2008PTC187078 Microqual Global Services Private Limited U32106MH2010PTC0198416 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital : Rs. 444.500 Millions
Issued, Subscribed & Paid-up Capital : Rs. 425.187
Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3060000 |
Equity Shares |
Rs.10/- each |
Rs.30.600 Millions |
|
920000 |
Preference Shares |
Rs.445/- each |
Rs.409.400 Millions |
|
|
|
|
|
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Total |
|
Rs.440.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1514000 |
Equity Shares (Of the above 1498860 Equity Shares (P.Y. 1498860) have been issued as
bonus shares by way of capitalization of profit and loss balance.) |
Rs.10/- each |
Rs.15.140
Millions |
|
912048 |
Fully Compulsorily Convertible Cumulative
Preference Share (Full Paid up) (Each FCCCPs shall compulsorily be converted
into such number of full paid and
non-assessable Equity Shares as is determined pursuant to terms of the
Share Holding Agreement as agreed by the parties i.e. earlier of (a) the
closing of initial public offer or (b) 17th June 2027, as defined
by the share subscription Agreement) |
Rs.445/-
each |
Rs.405.861
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.421.001
Millions |
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 |
421.001 |
421.001 |
421.001 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
249.272 |
170.966 |
147.081 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
670.273 |
591.967 |
568.082 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
745.808 |
385.343 |
78.256 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
745.808 |
385.343 |
78.256 |
|
|
DEFERRED TAX LIABILITIES |
27.008 |
10.579 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1443.089 |
987.889 |
646.338 |
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
537.946 |
539.392 |
57.944 |
|
|
Capital work-in-progress |
41.979 |
12.893 |
90.591 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.205 |
0.104 |
0.005 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
6.485 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
325.066
|
178.329 |
79.220 |
|
|
Sundry Debtors |
807.685
|
453.929 |
547.285 |
|
|
Cash & Bank Balances |
52.119
|
90.622 |
146.308 |
|
|
Other Current Assets |
80.748
|
0.327 |
0.000 |
|
|
Loans & Advances |
153.487
|
90.544 |
24.090 |
|
Total
Current Assets |
1419.105
|
813.751 |
796.903 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
486.027
|
350.238 |
281.392 |
|
|
Other Current Liabilities |
64.975
|
25.574 |
20.358 |
|
|
Provisions |
5.144
|
2.439 |
3.840 |
|
Total
Current Liabilities |
556.146
|
378.251 |
305.590 |
|
|
Net Current Assets |
862.959
|
435.500 |
491.313 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1443.089 |
987.889 |
646.338 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2312.852 |
1255.588 |
1392.223 |
|
|
|
Other Income |
41.021 |
8.061 |
3.291 |
|
|
|
TOTAL (A) |
2353.873 |
1263.649 |
1395.514 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stock |
[100.660] |
[62.149] |
[10.888] |
|
|
|
Material Consumed |
1695.880 |
1027.195 |
1147.310 |
|
|
|
Employee Cost |
78.940 |
36.588 |
22.659 |
|
|
|
Operating and other expenses |
456.557 |
162.609 |
106.931 |
|
|
|
Prior Period Item |
0.774 |
5.598 |
0.000 |
|
|
|
Other Expenses |
0.000 |
0.000 |
0.009 |
|
|
|
TOTAL (B) |
2131.491 |
1169.841 |
1266.021 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
222.382 |
93.808 |
129.493 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
77.459 |
48.965 |
10.825 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
144.923 |
44.843 |
118.668 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.937 |
9.738 |
4.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
114.986 |
35.105 |
114.247 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.680 |
11.220 |
15.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
78.306 |
23.885 |
99.176 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.164 |
0.537 |
0.000 |
|
|
TOTAL EARNINGS |
0.164 |
0.537 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
33.616 |
156.317 |
0.000 |
|
|
|
Trading Goods |
81.948 |
634.703 |
770.433 |
|
|
|
Stores & Spares |
1.889 |
11.048 |
0.000 |
|
|
|
Capital Goods |
0.000 |
290.105 |
0.000 |
|
|
TOTAL IMPORTS |
117.453 |
1092.173 |
770.433 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
39.10 |
3.15 |
57.37 |
|
|
|
Diluted |
30.78 |
3.15 |
38.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.33 |
1.89
|
7.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.97 |
2.80
|
8.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.88 |
2.59
|
0.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.06
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.94 |
1.29
|
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.55 |
2.15
|
2.61 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
a) Total Outstanding Dues Micro and Small Enterprises |
2.686 |
0.206 |
0.379 |
|
b) Total Outstanding dues of Creditors other than Micro and Small |
483.341 |
350.032 |
281.013 |
|
Total |
486.027 |
350.238 |
281.392 |
Performance:
Last year was full of challenges and
excitements. The telecom industry, worldwide in general and in
They commenced the RF Cable factory at
However the current year is looking good. With all the approval in
place, the pending orders position is healthy. They expect to achieve at least
80% capacity utilization in the current year.
They also commenced the TSP business for erection, installation and
commissioning of telecom infrastructure equipments in February 2009, They
initially focused in the state of Kerala. The market response and the wings to
Tamilndu, Gujarat and
The company achieved a turnover of Rs. 2312.852 Millions (Previous year
Rs. 1255.588 Millions) which represent 84% growth which is outstanding. The
profit after tax Rs. 78.306 Millions (Previous year Rs. 213.885 Millions)
New Business:
As a part of its business strategy, the company always keeps on
exploring various opportunities. They are working hard on initiatives that will
result into introducing new technologies in the Indian Telecom Industry for the
first time and will help it in lowering of both CAPEX and OPEX in rural as
urban areas.
Future Prospects:
- Going Ahead,
the business plan of the company looks at aggressively ramping up revenues
by sealing up both manufacturing and services segments. Also, being one of
the leading domestic manufacturers of significant components of bundled
wireless solutions, the company would swing significant clout in the
Indian market and its anticipated to emerge as a clear dominant player in
this arena.
- The company
is planning to grow its business both via organic and inorganic growth
route. It iw looking at various options of bringing together synergies
with some existing business to gain maximum advantages of economics of
scale, access to new geographies and utilization of proven technologies
that helps in offering cost effective solutions to the telecom industry.
All the above is expected to result in the company posing a superlative
growth.
Contingent
Liabilities not provided for:
|
Particulars |
31.03.2010 Rs.
in Millions |
|
LC’s Opened - YES Bank: Rs. 18.018 Millions - ICICI Bank: Rs. 11.731 Millions - Axis Bank : Rs. 12.153 Millions - Standard Chartered Bank – Rs. 74.481 Millions |
116.382 |
|
Buill Accepted under LC |
9.745 |
|
- Yes Bank : Rs. 9.745 Millions |
|
|
Bank Guarantee |
140.668 |
|
- Yes Bank: Rs. 20.291 Millions - ICICI Bank : Rs. 0.377 Million - IOB Bank: Rs. 0.200 Million - Axis Bank: Rs. 119.801 Millions |
|
|
Claims against the company not acknowledged as debts (Income Tax) |
0.226 |
|
Cumulative dividend on 4.025% FCCCP |
45.035 |
|
EPCGT License (Export Obligation against concessional import duty) |
73.583 |
|
Total |
385.640 |
Fixed Assets:
·
·
·
Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Vehicle
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U32200MH1999PTC121164 |
|
Name of the
company |
MICROQUAL TECHNO LIMITED |
|
Address of the
registered office or of the principal place of business in |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road,
Andheri (West), Mumbai - 400 053, Maharashtra |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10232137 |
|
Type of charge |
Book Debts Movable Property Floating Charges |
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation and goods and Assets |
|
Date of
instrument Creating the charge |
12.11.2010 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest WCDL: BBK Base
Rate + 300 bps CC: BBK Base Rate
+ 350 bps BG/LUT: 1% p.a. LC: Committment
and Usance charges of 0.15% per quarter Terms of
Repayment Fund Based
Facilities are Repayable on Demand Non Fund Based
Facilities have a maximum tenor of 1 year Margin Stocks: 25% Book Debts: 25%
(upto 180 days) : 40% (more than 180 days
for export debtors only) Extent and
Operation of the charge a)First charge on
all existing and future current assets of the company b)Second charge
on all existing and future movable fixed assets of the company Others WCDL: INR 17.5
Million CC: INR 32.5
Million LC/LUT/BG: INR 50
Million Total Limit is
for INR 100 Million |
|
Short particulars
of the property charged |
First charge by way
of hypothecation of all existing and future current assets of the company Second Charge on
all existing and future movable fixed assets of the company |
|
Particulars of
the present modification |
The Credit
Facilities are enhanced from INR 17.5 Million to INR 100 Million which
include: WCDL: INR 17.5
Million CC: INR 32.5
Million LC/LUT/BG: INR 50
Million with total limit
restricted to INR 100 Million |
|
Name of the company |
MICROQUAL TECHNO
PRIVATE LIMITED |
|
Presented By |
Indian Overseas
Bank Andheri [West]
Branch, Mumbai – 400058 |
|
1) Date and description of instrument creating the change |
Letter of
hypothecation of Machinery dated 14th July, 2004 to secure
Guarantee Limits of Rs. 4.500 Millions |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.500 Millions
|
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
existing machinery of the company. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Margin : 25 % Commission : To
be charged as per circular in force. |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank Andheri [West] Branch, Mumbai – 400058 |
|
This form is for |
Modification of charge |
||||||
|
Charge
identification number of the modified |
10085912 |
||||||
|
Corporate
identity number of the company |
U32200MH1999PTC121164 |
||||||
|
Name of the
company |
MICROQUAL TECHNO PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri
(West), Mumbai - 400 053, Maharashtra |
||||||
|
Type of charge |
Book Debts Others |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
||||||
|
Date of
instrument Creating the charge |
21.08.2008 |
||||||
|
Amount secured by
the charge |
Rs.100.000
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As Per Negotiable
rates Terms of
Repayment Repayable on
demand Margin As may be decide
by the bank from time to time Extent and
Operation of the charge First pari passu
charge on the whole of the hypothecation assets |
||||||
|
Short particulars
of the property charged |
Current assets
and fixed assets (including stocks and book debts and plant and machinery) on
the borrower both present and future. |
||||||
|
Particulars of
the present modification |
By this
modification the total limit of credit facilities has been increase from
Rs.50.000 millions to rs.100.000 millions All the terms and
conditions remained same. |
FIXED
ASSETS:
- Building
- Plant and
Machinery
- Office
Equipment
- Furniture and
Fixture
- Vehicles
As per
Website
Company Overview:
Subject for over the last decade, has been a pioneer and market leader,
in manufacturing and supply of products, services and solutions impacting the
global communications world. The culture of continuous innovation in the
products and solutions has been able to generate huge value for the customers
in terms of reduction in OPEX, CAPEX and SPACE resulting positively on the
bottom-line.
Microqual’s state of the art manufacturing facilities in India (3
Plants), backed up with global technology, have been set up for manufacturing
the complete range of products for RF (Radio Frequency) cables, transmission
lines, in-building solutions materials, tower accessories, electrical and
mechanical site materials and a range of RF antennas. An ISO 9001 and ISO 14001
certified company, the products have received global as well as domestic
approvals by the customers.
Microqual also provides end to end telecom infrastructure services. The
Company has expertise in Engineering, Procurement and Commissioning of telecom
sites and has the competence in Telecom Installation activities to be carried
out for integration of node with the network. These services also extend into
up gradation of existing sites and activities as BTS swapping etc. To complete
the cycle Microqual also delivers quality managed services /operations and
maintenance, both for active and passive elements at the site. Microqual truly
integrates all the elements of the value chain and orchestrates them in perfect
harmony through project / programme management resulting in a quality customer
experience.
Microqual’s broad customer base in
The Microqual family consists of a very passionate team which today is
the most important asset for the Organisation. The team is highly experienced
and trained and continuously striving for excellence and today this has become
a way of life at Microqual. At Microqual they call this as “Passion to Excel”.
Microqual has been awarded “The SME of the Year” and “Best
Infrastructure Company” by CNBC-TV18 and was ranked among the top fifty fastest
growing technology companies in
LEADERSHIP TEAM
MANAGEMENT PROFILE
Mr. Mahesh Choudhary –
CEO
Mahesh is the principal founder and driving force behind Microqual. He
co-founded the company (with family) post his business studies. He is the chief
architect of the company’s vision and strategy and has guided the Company in
becoming the 7th fastest growing tech company in
Mr. Mahesh discharges executive responsibilities in overseeing all strategic
and tactical business matters at Microqual.
Email id: mahesh@microqual.com
Mr.
Varun Choudhary – Director Sales
Varun joined Microqual as a fresh post graduate business studies. As a
young dynamic he has grown to successfully handle the complete Sales and
Marketing portfolio at the Company. Varun heads the Marketing operations within
and outside
Email id:
varun@microqual.com
Mr.
Mahesh Gupta (COO – Services)
Mahesh is an Electrical Graduate and has undergone his Executive Leadership
Program at ISB-Hyderabad. He started his career with Orient Fans in 1993 and
went on to join Ericsson India Private Limited in 1996 since the inception of
Wireless Telecom in the country, experience of over around 17 years out of which
is 14 years is with Ericsson.
Mahesh is very well versed with Operator, Service Providers and OEMs business
dynamics. He has held various leadership positions in Ericsson in
Email id:
mahesh.gupta@microqual.com
Mr.
Raja Natarajan – CTO
In his role, he is responsible to identify and create new technologies
synergistic with Microqual. Raja has 30 years of experience in Telecom and
Wireless industry. Prior to Microqual he has worked in various roles in Bell
Labs,
Raja has Master of Management Degree from Kellogg Graduate School of
Management,
Email id:
raja@microqual.com
Mr.
Rajeev Chaturvedi – COO – Products
He looks after the operation functions of all factories and technically
supports marketing in product selling. A Mechanical Engineer from NIT – Jaipur
with a Master’s degree in Business Administration , he brings with him the rich
experience of 25 years in the telecom industry.
Prior to Microqual he was with various telecom companies i.e – Usha Martin
Group , Optel Telecom ,AKsh Optics
Email
id: rajeev_chaturvedi@microqual.com
Mr.
Sunil Joshi – CFO
Sunil has nearly 26 years of across the spectrum of finance in various
chemical and manufacturing and IT organizations. Prior to Microqual he has
worked in various roles in Hercules Hoist Limited, Borax Morarji Limited, RPG
Ricoh Limited, Search Chem Industries Limited, Quickcalls Limited, Maxwell
Industries Limited, PJL Clothing Limited and Lipi Data Systems Limited Sunil
holds various professional degrees and accounting and finance areas –
B.Com.(Hons.), ACS, ACA, Grad CWA, LLM
Email id:
suniljoshi@microqual.com
Mr.
Deepak Gupta – VP (Marketing)
Deepak has rich 16 years of experience working at corporate strategy, Business Development
and Implementation at the senior management level across various companies like
Head of Marketing and Sales at GIP Limited, VP at Halcyon Asia, Project Manager
– Business Development (Middle East and North Africa) at ETA Zenath, Business
Manager woth Bharat Shell Limited, (Royal Dutch Shell – UK) and Sales Engineer
with Greaves Cotton and Company Limited
Deepak holds a Btech (Mechanical) Degree from
Email id:
deepakgupta@microqual.com
Mr.
Brij Juneja – (CHRO)
Brij comes to Microqual with rich experience of over 17 years in Strategic as
well as Business HR including handling new startups and green field projects.
He started his career with Sharp India Limited, and subsequently joined
Kirloskar Oil Engines Limited, Cummins India Limited, Whirlpool India Limited
as Director – HR (
He has handled key areas of Talent Management,
Email id:
brij.juneja@microqual.com
Madan
Kumar – GM (Marketing)
He has done BE ( E andC) passed out in 2001 from
He is currently handling Marketing as his main KRA and assisting the sourcing
of all RF components, technical evaluation of the suppliers in terms of the
products supplied and evaluation of all the data sheets been given and
parallely assisting the factory related dispatches.
Email id:
madan@microqual.com
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.45.13 |
|
|
1 |
Rs.73.36 |
|
Euro |
1 |
Rs.63.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.