MIRA
INFORM REPORT
|
Report Date : |
02.03.2011 |
Note :- Given name of the company is “RAMAKRISHNA
ELECTRO COMPONENT PRIVATE LIMITED”
IDENTIFICATION DETAILS
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Name : |
RAMAKRISHNA ELECTRO COMPONENT PRIVATE LIMITED |
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Registered
Office : |
351, |
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Country : |
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Financials (as
on) : |
31.03.2008 |
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Date of
Incorporation : |
12.06.2001 |
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Com. Reg. No.: |
55-111231 |
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CIN No.: [Company Identification
No.] |
U32109DL2001PTC111231 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Distributor of Semi Conductors and Electronic Components. |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 188000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management has not filed the latest financials of the company with the government
department. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. Profit and Loss Accountant of the company is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (General Details)
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Name : |
Mr. Sachin Malik |
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Designation : |
Finance Manager |
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Contact No.: |
91-9811626674 |
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Date : |
28.02.2011 |
LOCATIONS
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Registered Office : |
351, |
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Tel. No.: |
91-11-47010811 |
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Fax No.: |
91-11-47010816 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft. |
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Location : |
Owned |
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Branch : |
Located at :
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DIRECTORS
As on 23.09.2009
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Name : |
Mr. Harish Kumar |
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Designation : |
Director |
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Address : |
C-165, Pushpanjali Enclave, Pitampura – 110034, |
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Date of Birth/Age : |
04.12.1971 |
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Date of Appointment : |
01.01.2004 |
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Name : |
Mrs. Kavita Luthra |
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Designation : |
Director |
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Address : |
C-165, Pushpanjali Enclave, Pitampura – 110034, |
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Date of Birth/Age : |
01.01.1967 |
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Date of Appointment : |
12.06.2001 |
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Name : |
Mr. Ashish Luthra |
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Designation : |
Director |
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Address : |
C-165, Pushpanjali Enclave, Pitampura – 110034, |
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Date of Birth/Age : |
31.10.1985 |
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Date of Appointment : |
01.03.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2009
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Names of Shareholders |
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No. of Shares |
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Harish Kumar |
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241000 |
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Satpal Luthra |
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770000 |
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Satish Luthra |
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200000 |
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Kavita Luthra |
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20000 |
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Sachin Malik |
|
1000 |
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Jyoti Sharma |
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1000 |
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Narender Kumar |
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557000 |
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Ashish Luthra |
|
1000 |
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Total |
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1791000 |
As on 23.09.2009
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Category |
Percentage |
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Directors or relatives of Directors |
67.00 |
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Other top fifty shareholders |
33.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Distributor of Semi Conductors and Electronic Components. |
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Agencies Held : |
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Terms : |
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Selling : |
Cash and Credit (30 / 60 / 90 days) |
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Purchasing : |
Cash and Credit (30 / 60 / 90 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India,
Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. Chhabra and Associates Chartered Accountant |
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Address : |
201, Aggarwal Chambers LSC, Sainik Vihar, Pitampura – 110034, |
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Tel. No.: |
91-11-27020521 |
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Mobile No.: |
91-9810041967 |
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E-Mail : |
CAPITAL STRUCTURE
As on 23.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1791000 |
Equity Shares |
Rs.10/- each |
Rs.17.910
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
10.000 |
4.430 |
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2] Share Application Money |
0.000 |
6.000 |
0.000 |
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3] Reserves & Surplus |
37.007 |
35.299 |
5.208 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
47.007 |
51.299 |
9.638 |
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LOAN FUNDS |
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1] Secured Loans |
136.784 |
41.649 |
13.898 |
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2] Unsecured Loans |
9.577 |
32.998 |
44.157 |
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TOTAL BORROWING |
146.361 |
74.647 |
58.055 |
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DEFERRED TAX LIABILITIES |
0.258 |
0.201 |
0.182 |
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TOTAL |
193.626 |
126.147 |
67.875 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
149.518 |
123.134 |
74.660 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.326 |
0.000 |
5.346 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
79.855
|
16.846 |
0.000 |
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Sundry Debtors |
110.967
|
96.600 |
63.993 |
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Cash & Bank Balances |
3.940
|
3.727 |
1.486 |
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Other Current Assets |
5.798
|
5.568 |
16.723 |
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Loans & Advances |
43.421
|
36.703 |
4.990 |
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Total
Current Assets |
243.981
|
159.444 |
87.192 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
203.239
|
155.589 |
98.347 |
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Provisions |
0.960
|
0.842 |
0.976 |
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Total
Current Liabilities |
204.199
|
156.431 |
99.323 |
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Net Current Assets |
39.782
|
3.013 |
(12.131) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
193.626 |
126.147 |
67.875 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.46
|
4.50 |
16.33 |
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Current Ratio (Current Asset/Current Liability) |
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1.19
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1.02 |
0.88 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULT :
The company is engaged in the business of trading of electronic
component has made a turnover of Rs.340.396 Millions and earned a profit of Rs.2.725
Millions against a profit of Rs.2.521 Millions as compared to the last year.
The directors have not recommend declaration of any dividend during the year
under consideration. A provision for taxation for Rs.0.841 Million has been
made.
FORM 8 :
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
10070065 |
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Corporate
identity number of the company |
U32109DL2001PTC111231 |
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Name of the
company |
RAMAKRISHNA ELECTRO COMPONENT PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
351, |
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Type of charge |
Book Debts Movable Property Others |
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Particular of
charge holder |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of
India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation dated 25.02.2010 |
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Date of
instrument Creating the charge |
25.02.2010 |
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Amount secured by
the charge |
Rs.80.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: 13% per annum
(Yes Bank Limited Prime Lending Rate Minus 3.50% per annum) Prime Lending
Rate of Yes Bank Limited at present is 16.50% per annum. Terms of
Repayment : Repayable on
Demand Margin : 25% on Stocks and
Book Debts. Extent and
Operation of the charge : Exclusive charge
by way of Hypothecation on entire current assets of the company (both present
and future). |
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Short particulars
of the property charged |
Exclusive charge by
way of Hypothecation on entire current assets of the company (both present
and future). |
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Particulars of
the present modification |
Modification is
pursuant to increase in existing Cash Credit facility from Rs.60 Million to
Rs.80 Million. Total charge amount stands increased from Rs.60 Million to
Rs.80 Million. Other terms and conditions remains unchanged. |
AS PER WEBSITE :
PROFILE :
Subject has been engaged in the trading and distribution of Semiconductors
and Electronic Components for the last 27 years. Subject has a wide sales
network spread all over
Subject have some sister concerns and forefronts in
Subject goal is to cater the growing and imperative demand
of customers accurately and efficiently. Subject customers look upon them not
only as mere suppliers but also expect active participation and total
involvement in seeking solutions for their specific requirements. Subject has
at its disposal comprehensive know how and superior skills acquired over a
decade of quality work. These essential qualities coupled with the innovative,
readily flexible infrastructure and manpower enable them to respond immediately
to the high tech requirements put forward by their customers. The company's
philosophy of total customers satisfaction and Commitment to deliver the best
quality product at competitive prices and optimum deliveries has been
responsible for its success.
Solution Providers :- Subject have a vision where in company wants to diversify
in giving the solutions like Energy Meters, MPEG Cards, VCD/ DVD/Digital Set
Top Box Solutions, A/C Remote Solution, UPS/Inverter Solution, UOC Based CTV
Chassis and wants to enter into business of smart card. We are already
providing the complete solutions to our customers.
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.45.12 |
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|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.