1. Summary Information
|
|
|
Country |
|
|
Company Name |
AQTRONICS TECHNOLOGIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Srikanth Thirumalai |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ramesh Babu Donthi Nagaraj |
|
|
|
Registration # |
08-045587 |
|
Street Address |
No. 60, 1st Floor, |
||
|
Established Date |
12.03.2008 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Distributor |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Semiconductors |
|
# of employees |
-- |
Product Name 2 |
Electro-mechanical |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 100.00% |
Banking |
Corporation Bank |
|
Public Limited Corp. |
No |
Business Period |
2 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
13,574,000 |
Current Liabilities |
13,359,000 |
|
Inventories |
4,241,000 |
Long-term Liabilities |
2,875,000 |
|
Fixed Assets |
346,000 |
Other Liabilities |
861,000 |
|
Deferred Assets |
0000 |
Total Liabilities |
17,095,000 |
|
Invest& other Assets |
8,000 |
Retained Earnings |
974,000 |
|
|
|
Net Worth |
1,074,000 |
|
Total Assets |
18,169,000 |
Total Liab. & Equity |
18,169,000 |
|
Total Assets (Previous Year) |
7,973,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
37,566,000 |
Net Profit |
648,000 |
|
Sales(Previous yr) |
16,972,000 |
Net Profit(Prev.yr) |
326,000 |
MIRA
INFORM REPORT
|
Report Date : |
16.03.2011 |
Note: Note: The
registered office of the company has been shifted from Aqtronics Technologies 121, 2nd
Cross, 8th Main, Jakkasandra Block, Koramangala,
IDENTIFICATION DETAILS
|
Name : |
AQTRONICS TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 60, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
12.03.2008 |
|
|
|
|
Com. Reg. No.: |
08-045587 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA2008PTC045587 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA14586F BLRA10839D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA9266M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in distribution and marketing of semiconductors, passive,
interconnect, electro-mechanical, IT and enterprises product. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No. 60, 1st Floor, H.B. Samaja Road, Off Kanankapura Road,
Bangalore-560004, Karnataka, India |
|
E-Mail : |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Srikanth Thirumalai |
|
Designation : |
Director |
|
Address : |
121, 2nd Cross, 8th Main, Jakkasandra Block, Koramangala,
Bangalore-560034, |
|
Date of Birth/Age : |
29.08.1970 |
|
Date of Appointment : |
12.03.2008 |
|
|
|
|
Name : |
Mr. Ganesh Muruganandam |
|
Designation : |
Director |
|
Address : |
SV lllam, 2 C 203, III Blcok, HRBR Layout, Kalyan Nagar,
Bangalore-560084, Karnataka, India |
|
Date of Birth/Age : |
26.12.1960 |
|
Date of Appointment : |
12.03.2008 |
|
Date of Ceasing: |
20.04.2010 |
|
|
|
|
Name : |
Mr. Ramesh Babu Donthi Nagaraj |
|
Designation : |
Director |
|
Address : |
No. 2485, 25th Cross, 17th Main, BSK 2nd
Stage, Bangalore-560070, |
|
Date of Birth/Age : |
14.06.1958 |
|
Date of Appointment : |
05.02.2010 |
|
|
|
|
Name : |
Mr. Shashank Donthi |
|
Designation : |
Director |
|
Address : |
No. 1631-2, 32nd Cross, 17th Main, Banashankari,
2nd Stage, Bangalore-560070, |
|
Date of Birth/Age : |
24.03.1991 |
|
Date of Appointment : |
20.04.2010 |
|
|
|
|
Name : |
Mr. Manjunath Srinivasa Murthy |
|
Designation : |
Director |
|
Address : |
1132, Adarsha Layout, Basaveshwara Nagar, WCR, Bangalore-560079, |
|
Date of Birth/Age : |
13.04.1977 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Srikanth Thirumalai |
|
5000 |
|
Ganesh Muruganandam |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
As on 29.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in distribution and marketing of semiconductors,
passive, interconnect, electro-mechanical, IT and enterprises product. |
GENERAL INFORMATION
|
Bankers : |
Corporation Bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N M Arunkumar P S Anand Rao and Company Chartered Accountant |
|
Address : |
No. 5, Tharanga, Binny Layout, Behind Attiguppe, Vijay Nagar,
Bangalore-560040, |
|
Tel. No.: |
91-80-65606336/23215652 |
|
Fax No. |
91-80-23215652 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.974 |
0.326 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.074 |
0.426 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
2.875 |
0.900 |
|
|
TOTAL BORROWING |
|
2.875 |
0.900 |
|
|
DEFERRED TAX LIABILITIES |
|
0.034 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.983 |
1.339 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.346 |
0.119 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.241
|
2.120 |
|
|
Sundry Debtors |
|
11.272
|
2.451 |
|
|
Cash & Bank Balances |
|
0.574
|
2.279 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
1.728
|
0.993 |
|
Total
Current Assets |
|
17.815
|
7.843 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
13.359
|
6.280 |
|
|
Other Current Liabilities |
|
0.000
|
0.000 |
|
|
Provisions |
|
0.827
|
0.354 |
|
Total
Current Liabilities |
|
14.186
|
6.634 |
|
|
Net Current Assets |
|
3.629
|
1.209 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.008 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.983 |
1.339 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
37.566 |
16.972 |
|
|
|
Other Income |
|
3.705 |
0.888 |
|
|
|
TOTAL |
|
41.271 |
17.860 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
40.310 |
17.334 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
0.961 |
0.526 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.313 |
0.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
0.648 |
0.326 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
|
0.659 |
NA |
|
|
|
Exhibition Expenses |
|
0.162 |
NA |
|
|
TOTAL EARNINGS |
|
0.821 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
64.80 |
32.65 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
1.57 |
1.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.56 |
3.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.29 |
6.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.89 |
1.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
15.89 |
17.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.25 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
Note: The
registered office of the company has been shifted from 1616, 8th
FINANCIAL RESULTS AND
FUTURE PROSPECTS:
During the current year, the Company has achieved a turnover of Rs. 37.600 millions and earned a profit of Rs. 0.961 millions before tax.
The company has not transferred any amount to General
Reserves from the profit and loss account and the entire amount has been
transferred to balance sheet. Further, in view of the developmental activities
in the ensuing year, the directors have not declared any dividend during the
year.
NEW:
March 2010:
AqTronics Technologies Ties up with Sierra Wireless for M2M
Product range
About AqTronics Technologies Private Limited: AqTronics Technologies
Private Limited is an innovator in the distribution and marketing of
semiconductors, passives, interconnects, electro-mechanical, IT and enterprise
products. It is a focused demand creation distributor for
About Sierra Wireless: Founded in 1993, Sierra Wireless has a
track record of leading the way with new wireless technologies and solutions.
We focus on wireless devices and applications, offering a comprehensive
portfolio of products and services that reduce complexity for our customers.
With sales, engineering, and research and development teams located in offices
around the world, we also offer a network of experts in mobile broadband and
M2M integration to support customers worldwide.
Sierra Wireless technology enables solutions for a broad range of target
markets, including applications for:
- Mobile
Computing
- Mobile
Consumer
- Automotive
- Transportation
- Energy
- Industrial
and Infrastructure
- Security
- Networking
- Sales
and Payment
- Field
Services and Logistics
Aug 2009:
AqTronics-Mouser eye growth opportunities for components distribution in
AqTronics to distribute Mouser"s
components in
AqTronics recently entered into an
agreement with Mouser Electronics Inc., a leading global distributor of
electronic components.
Under the agreement, AqTronics will
distribute Mouser"s electronics components in
Mouser Electronics is one of the fastest
growing global catalog and web based distributors in the electronics industry.
The company is focused on the rapid introduction of newest products, leading
edge technologies, and world class customer service.
It is specially focused on design engineers
and buyers demanding small to medium quantities of the latest products. Hence,
Mouser provides customer-focused distribution.
Mouser is also an authorized distributor
for over 390 industry leading manufacturers. With a new catalog every six
months, it ensures that the newest products are added and the end-of-life
products removed from the print catalog. Mouser’s website features over a million
products for easy purchase in USD, INR and with Modvat refund through
AqTronics.
USP of AqTronics-Mouser relationship
Ranga Prasad says: "AqTronics"
focus is demand creation distribution. This calls for supporting customers on
the complete product development life cycle (PDLC)."
Mouser Electronics will help AqTronics will
support customers for -- functional engineering, embedded development tool
selection, bread board to engineering BOM, prototyping with small quantities,
and NPI or pilot production – broken pack (Non MoQ, non MoV).
Components distribution and
Estimating the global components
distribution market, according to Mouser, the semiconductor markets globally
are estimated to be $1.2 trillion.
The Indian market share in percentage terms
is said to be lesser than 2 percent of the world TAM (total available market).
According to the companies, this calls for tremendous growth opportunities for
components distribution in the Indian market.
Naturally, the
Mouser will focus and continue to put an
effort into developing this market. Mouser is very excited about the growth in
the Indian market and the opportunity to bring its world class product line
card to the region.
AqTronics" strategies to tap Indian market with Mouser
According to Ranga Prasad: “Mouser will
re-inforce resources in
“To support this, AqTronics, and also
Mouser, will update their website daily with new parts and components from over
390 major manufacturers. There will also be a fully updated catalog in
Warehouse in pipeline
Entering
Putting
appropriate resource to support customers is Mouser"s belief. Therefore,
it will not neglect the needs of adding a warehouse wherever and whenever
required. It also partners with FEDEX for international operations and has a
three-day shipping from
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.45.27 |
|
|
1 |
Rs.72.95 |
|
Euro |
1 |
Rs.63.08 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.