MIRA
INFORM REPORT
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Report Date : |
18.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MEDHA SERVO DRIVES PRIVATE LIMITED |
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Registered
Office : |
P-4/5B, IDA, Nacharam, Hyderabad-500076, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.01.1984 |
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Com. Reg. No.: |
004436 |
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CIN No.: [Company Identification No.] |
U31103AP1984PTC004436 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer
of wheel flange lubricators, speed / time / distance recorders and indicators
and inverters and static converters in collaboration with "Powernetics
Limited, |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. General
financial position is good. Trade relations are reported as fair. Business is
active. Payments are reported to be 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
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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 |
LOCATIONS
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Registered Office/ Corporate Office : |
P-4/5, B IDA, Nacharam, Hyderabad-500076, Andhra Pradesh, India |
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Tel. No.: |
91-40-2717 1101 / 2791 / 3990 |
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Fax No.: |
91-40-2717 4908 |
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E-Mail : |
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Website : |
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Area : |
1 / 4 Acres (Rented) |
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Factory 1 : |
Survey
No. 780/781, Jodimetla “X” Road, Korremula Village, Ghatkesar Mandal, R. R. District,
Andhra Pradesh - 501 301, India. |
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E-Mail : |
Production : production@medhaindia.com
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DIRECTORS
As On : 16.08.2010
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Name : |
Mr.
Y. Yugandhar Reddy |
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Designation : |
Managing
Director |
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Address : |
12-13-312/1,
Street No. 13, Tarnaka, Secunderabad – 500017, |
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Date of Birth/Age : |
01.07.1953 |
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Date of Appointment : |
07.01.1984 |
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DIN No : |
01344601 |
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Name : |
Mr.
P. Saraschandra Babu |
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Designation : |
Director |
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Address : |
Plot No. C8, |
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Date of Birth/Age : |
25.07.1947 |
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Date of Appointment : |
24.04.1984 |
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DIN No : |
02483837 |
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Name : |
Mr.
Y. Mohan Rao |
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Designation : |
Director |
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Address : |
2-194/4, Street
No. 3, Habsiguda, |
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Date of Birth/Age : |
10.07.1950 |
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Date of Appointment : |
27.11.1991 |
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Name : |
Mr.
N. Srinivas Reddy |
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Designation : |
Whole Time
Director |
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Address : |
F 101, LR Nestle,
D. No. 385/12, 1 to 8, Gandhi Nagar, New Bakaram, Hyderabad, Andhra Pradesh,
India |
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Date of Birth/Age : |
10.02.1967 |
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Date of Appointment : |
12.12.1997 |
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DIN No : |
01373219 |
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Name : |
Mr. Vinod Kumar
Agarwal |
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Designation : |
Director |
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Address : |
F-12, Madhura
Nagar, Sanjeeva Reddy Nagar, |
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Date of Birth/Age : |
25.03.1969 |
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Date of Appointment : |
16.05.2002 |
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DIN No : |
02500909 |
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Name : |
Mr. Subodh P
Yeotikar |
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Designation : |
Whole Time
Director |
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Address : |
F-402, Akruti
Homes, Nagarjuna Nagar, Tarnaka, Secunderabad, |
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Date of Birth/Age : |
07.04.1963 |
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Date of Appointment : |
16.05.2002 |
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DIN No : |
02514445 |
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Name : |
Mr. Y. Kasyap
Reddy |
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Designation : |
Executive
Director- Business Development |
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Address : |
12-13-312/1,
Street No. 13, Tarnaka, Secunderabad – 500017, |
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Date of Birth/Age : |
17.03.1979 |
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Date of Appointment : |
1.04.2008 |
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DIN No : |
02088825 |
KEY EXECUTIVES
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Name : |
Mr. Ch.
Jaganmohan Gupta |
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Designation : |
Secretary |
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Address : |
Flat No.205,
VRN’s Saikiran Residency, Kartikeya Nagar, Nacharam, Hyderabad-500076, Andhra
Pradesh, India |
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Date of Birth/Age : |
02.11.1980 |
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Date of Appointment : |
07.01.2009 |
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PAN No : |
AEMPC0108F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On : 16.08.2010
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Names of Shareholders |
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No. of Shares |
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Y Yugandhar Reddy |
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191188 |
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Y Lakshmi |
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116402 |
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Y Swetha |
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89649 |
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Y Kasyap Reddy |
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397238 |
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P Sharaschandra Babu |
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224412 |
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P Sujatha |
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91827 |
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P V Shashidar |
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81000 |
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296766 |
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100472 |
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Subodh P Yeotikar |
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33750 |
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V K Agarwal |
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177679 |
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Y Mohan Rao |
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133282 |
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Y Naveen |
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74554 |
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M V |
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21938 |
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B Sanjay Reddy |
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16875 |
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Viresh Kumar |
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2193 |
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K. Ram Babu |
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2193 |
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B O Chenna Reddy |
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2193 |
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C V Mahender Reddy |
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2193 |
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M Suresh |
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2193 |
AS ON 16.08.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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86.24 |
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Other top fifty shareholders |
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13.76 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of wheel flange lubricators, speed / time / distance recorders and indicators
and inverters and static converters in collaboration with "Powernetics
Limited, |
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Products : |
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PRODUCTION STATUS (As. On 31.03.2010)
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Particulars |
Unit |
Actual
Production |
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Speed Time Distance Recorder |
Nos. |
452 |
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Static Inverter |
Nos. |
200 |
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Microprocessor Based Control System |
Nos. |
487 |
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AC-AC Traction System |
Nos. |
9 |
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Other Items (Spares Etc) |
Nos. |
29964 |
GENERAL INFORMATION
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No. of Employees : |
101 – 500 People (Approximately) |
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Bankers : |
v State Bank of
India, Commercial Branch, Bank Street, Koti, Hyderabad-500095, Andhra
Pradesh, India v ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountant |
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Address : |
Golden Green Apartments, 4th Floor, Erramangil Colony,
Hyderabad-500016, |
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Subsidiaries : |
Medha Railway Equipments Private Limited CIN No : U35122AP2009PTC064051 |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2100000 |
Equity Shares |
Rs. 100/- each |
Rs. 210.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2087719 |
Equity Shares |
Rs. 100/- each |
Rs. 208.772
millions |
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Note : Out of the above 695907 Equity Shares of
Rs.100/- each were allotted as fully paid up by way of bonus shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
208.772 |
139.181 |
92.788 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
892.528 |
518.779 |
219.213 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1101.300 |
657.960 |
312.001 |
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LOAN FUNDS |
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1] Secured Loans |
543.905 |
468.907 |
330.351 |
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2] Unsecured Loans |
46.006 |
46.006 |
46.006 |
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TOTAL BORROWING |
589.911 |
514.913 |
376.357 |
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DEFERRED TAX LIABILITIES |
23.924 |
14.733 |
10.873 |
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TOTAL |
1715.135 |
1187.606 |
699.231 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
386.978 |
283.976 |
246.834 |
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Capital work-in-progress |
12.766 |
19.742 |
0.000 |
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INVESTMENT |
19.500 |
0.400 |
2.000 |
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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 |
548.523
|
253.805 |
106.553 |
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Sundry Debtors |
948.025
|
581.407 |
348.590 |
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Cash & Bank Balances |
27.657
|
45.835 |
16.450 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
184.670
|
207.004 |
93.529 |
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Total
Current Assets |
1708.875
|
1088.051 |
565.122 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
206.348
|
55.956 |
44.842 |
|
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
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Provisions |
206.850
|
148.927 |
70.042 |
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Total
Current Liabilities |
413.198
|
204.883 |
114.884 |
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Net Current Assets |
1295.677
|
883.168 |
450.238 |
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MISCELLANEOUS EXPENSES |
0.214 |
0.320 |
0.159 |
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TOTAL |
1715.134 |
1187.606 |
699.231 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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GROSS SALES |
2332.414 |
2011.366 |
1216.845 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1582.754 |
1455.808 |
951.824 |
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Advertising Expenses |
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TOTAL |
1582.754 |
1455.808 |
951.824 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
749.660 |
555.558 |
265.021 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
63.458 |
33.448 |
19.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
686.208 |
522.110 |
245.667 |
|
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
26.745 |
21.424 |
17.307 |
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|
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|
|
|
|
|
PROFIT BEFORE
TAX |
659.463 |
500.686 |
228.360 |
|
|
|
|
|
|
|
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Less |
TAX |
167.273 |
122.159 |
52.538 |
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|
|
|
|
|
|
|
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PROFIT AFTER TAX
|
492.190 |
378.527 |
175.822 |
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|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
111.225 |
190.659 |
54.148 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
52.446 |
379.000 |
17.600 |
|
|
|
Utilized for issue of Bonus Shares |
69.591 |
46.394 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
41.754 |
27.836 |
18.558 |
|
|
|
Corporate Dividend Tax |
7.096 |
4.731 |
3.154 |
|
|
BALANCE CARRIED
TO THE B/S |
432.528 |
111.225 |
190.658 |
|
|
|
|
|
|
|
|
|
|
EARING PER SHARE |
235.75 |
271.97 |
18.95 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
28.27
|
24.89 |
18.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.46
|
36.49 |
28.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60
|
0.76 |
0.73 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93
|
1.12 |
3.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.14
|
5.31 |
4.92 |
LOCAL AGENCY FURTHER INFORMATION
RESULTS OF
OPERATIONS
During the year, the Company has successfully crossed the Net Annual
Turnover of INR 2 billions and recorded the after tax profit of Rs.492.190
millions which is a historical record for the Company. The construction of
additional factory buildings at Ghatkopar is under progress. At the Design
Centre additional space has been created and partly occupied to meet the
continuous growth. Further development of the premises at Design Centre is
under progress. For the first time in the history of the company MEP 660 was
exported to a customer in IRAN.
FORM 8
|
Corporate
identity number of the company |
U31103AP1984PTC004436 |
|
Name of the
company |
MEDHA SERVO DRIVES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
P-4/5, B IDA, Nacharam, Hyderabad-500076, Andhra Pradesh, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Bank Street, Koti,
Hyderabad-500095, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
1)
Supplemental Agreement of Hypothecation of Goods and Assets for increase in
the overall Limit. 2)
Memorandum for recording extension of mortgage by deposit of title deeds
covering enhanced limits and/or creation of equitable mortgage on additional
properties for existing limits and enhanced limits and additional facilities 3)
Letter regarding the grant of individual limits within the overall limit 4)
Supplemental Agreement of loan for increase in the overall limit |
|
Date of
instrument Creating the charge |
28.10.2010 |
|
Amount secured by
the charge |
Rs. 2170.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1)
CC: At 4.00% above Base Rate, (Base Rate = 7.60%), present effective rate of
interest being 11.60% p.a with monthly rests 2)
TL- At 4.50% above SBBR, with an option of reset after every two years. Terms of
repayment 1)
Working Capital : On demand. 2)
Term Loan : As per the existing repayment schedule in force. Margin 1)
Raw Materials (Domestic and Imported), Stock-in-Process and Finished Goods -
25% 2) Receivables
(Cover period - 120 days) - 30% 3)
Letters of Credit - 10% 4)
Bank Guarantees - 10% 5)
Term Loan : As existing. Extent and
operation of the charge The
charge operates as security, inter alia, for the due repayment by the company
to the State Bank of India, Commercial Branch, Hyderabad for its limits
sanctioned to the extent of Rs.2170.000 millions, together with interest,
additional interest, liquidated damages, commitment charges, premia on
prepayment or on redemption, costs, charges,
expenses and all other moneys payable by the Company to State Bank of India,
Commercial Branch, Hyderabad. |
|
Short particulars
of the property charged (Including location of the property) |
1.
Hypothecation of Exclusive first charge on all the
current assets of the company namely
stocks stores and spares not relating to Plant and Machinery (Consumable
stores and spares) Bills Receivables and book debts and all other movable
assets of the borrower. 2.
Hypothecation of the whole of the
movable properties of the company (Fixed Assets) including its movable Plant
and Machinery whether attached to the earth or otherwise, machinery spares,
tools and accessories and others. 3.
EM of all that Industrial land and
sheds and constructions thereon on Plot No.P-10/2 in S. No.62 Part,
admeasuring area of 1.9355 acres or 9358 sq. yds or 7824 sq. mtrs with ACC
shed, plinth area of 9182 sq. ft. at Industrial Development Area, Nacharam
IDA, Ranga Reddy Dist, standing in the name of the Company. 4.
EM of all that Industrial land admeasuring
area of 1000 sq. yds or 836.10 sq. mtrs with sheds with a built up area of
736 sq. st in PNo.P-4/9A, IDA, Nacharam IDA, Ranga Reddy (Dt), name of the
Company 5.
EM of Industrial Land admn. 1381.46
Sq. yds with total built up area of 6104 sq. ft in Plot No.4/5B at IDA,
Nacharam IDA, RR Dist, standing in the name of the Company 6.
EM of all that Agl / Ind Land in S.
No. 780 total land Acs 8.24 1/2 gts along with sheds thereon standing in the
name of the Company. 7.
EM of all that building in M.
No.2-3-2/A, in S. No.290 admn 2.00 gts, along with buildings constructed
thereon, standing in the name of the Company |
|
Charge
identification number of the charge to be modified |
90129483 |
|
Date of
instrument modifying the charge |
30.01.2010 |
|
Particulars of the
present modification |
The
existing limit of Rs.983.000 millions is enhanced to Rs.2170.000 millions.
The details of the individual limits are as under: 1)
CC - Rs.800.000 millions 2) TL - Rs.100.000 millions 3)
BG - Rs.950.000 millions 4)
LC - Rs.300.000 millions 5)
Forward Cover / Derivates - Rs.20.000 millions |
As Per Website
Profile:
Subject founded in 1984, is focused
on rail transportation. Starting from humble beginning, over the last 25 years our
company has grown to employ over 1100 talented people whose commitment has led
to a sales revenue of INR 2.0 billion (approximately USD 42.8 million), with
the revenues growing at the rate of 68% year over year for the past four years.
Subject vision is to become a world leader in railway products and to achieve
this they specialize in three areas, Control Electronics, Power Electronics and
safety critical Signalling.
They have designed and manufactured various
world-class high-tech electronics products for application on locomotives,
coaches, railway stations and yards. They specialize in designing and
engineering their products to withstand shock and vibration, wide temperature
variations, and electrical disturbances that are typical of harsh locomotive
environment. Their strength lies in designing, customizing and integrating
systems that involve multiple functional domains such as control electronics,
power electronics, fail safety and mechanical construction. Subject R and D Centre is 330 people strong and has all the
infrastructure required for developing sophisticated products. Subject has also
achieved CMMI Level 3 certification for well defined design processes for new product
development. They are currently working towards CMMI Level 5 certification by
further improving their design processes.
At Subject, their
products, their people and their approach to business are held to only the
highest standards. They build quality into their products by following well
designed processes and implementing end-to-end manufacturing. They profoundly
believe in professional management at all levels and strictly follow Quality
Assurance System as per ISO 9001:2000 standard. Subject was awarded ISO
9001:2000 certificate by American Quality Assessors accredited by ANAB and
established a reputation for quality products and excellent after sales
service. Since their foundation, our quality policy has been, ‘To provide
products meeting customer satisfaction with excellence in performance and cost
effectiveness through a continually improving Quality Management System’.
Subject motto being ‘translating
technology into innovative solutions’, their employees believe in making their
customers’ lives better by designing better products and improving existing
products. To them, the idea of innovation extends beyond building a product. We
continue to train their customers and service the product throughout the design
life of a product (typically 10 – 20 years).
Subject Corporate Office,
Manufacturing Unit and R and D Centre located in three different areas are
built over a combined area of about 13 acres of land in the heart of industrial
areas near Hyderabad, India. These state-of-the-art facilities encompass the
capability to research, design, develop, manufacture, service and provide
in-field product support.
In 2007, Subject started a charitable institution by the name of ‘Medha
Charitable Trust’ for the upliftment of poor students. It is the goal of the
trust to improve the lives of these students by supporting them throughout
their education and helping them become self sufficient in the long run. The
trust has touched the lives of more than 94,000 students in various schools
within the first two years of its establishment
Board of Directors
Subject board comprises of
technocrats who contributed to the ongoing success of the organization in a
distinct way. Their board members serve as tough critics and wise counsellors
to their departments while providing in-depth oversight on all strategic issues
of the company. A majority of the board members have joined Medha as employees
and worked their way up to the board by demonstrating commitment, competence
and integrity. Medha’s board of directors consists of six directors, of which
two members are promoters and four members are executive directors.
Y. Yugandhar Reddy, Promoter and
Managing Director
Yugandhar Reddy has been the Managing Director of subject since its inception.
As a founding promoter of subject, he has been the backbone of subject growth
and success. As subject Managing Director, Mr. Reddy overlooks all the
functions of subject while spending a considerable amount of time in research
and development of subject products. Mr. Reddy is the thought leader behind
most activities at subject and is actively involved in the strategic
initiatives involving the future growth of the company. Mr. Reddy has 30 years
of experience in the railway industry. He began his career with V.V. Rama Rao
and Company and moved on to work for Yamuna Digital Electronics Private
Limited, and Electronics Corporation of India Limited, where he worked as
Technical Officer for six years. Mr. Reddy received a bachelor’s
degree in electronics and electrical engineering from Manipal University.
P. S. Babu, Promoter and Director
P. S. Babu has been a member of subject board of directors since 1984. As a
Promoter and Director of subject, he has been responsible for mechanical design
and engineering of all products and systems at subject. Mr. Babu has more than
40 years of experience in product design, development and engineering. He began
his career with Electronics Corporation of India Limited, where he worked for
16 years in mechanical design and product engineering of servo components,
servo systems, control instrumentation, and signalling for defence, nuclear
reactors and railways. Mr. Babu received a diploma in mechanical engineering
from Associate Membership of Institution of Engineers.
N. Srinivas Reddy, Executive Director,
Marketing
Srinivas Reddy has been a member of subject board of directors since 1998. He
joined subject in 1991 as a Marketing Executive and was later promoted to
Marketing Manager, before joining the board of directors. He is responsible for
all Marketing functions at subject, like marketing of all products in India,
supporting new product development and guiding marketing activities overseas.
In addition to Marketing functions, Mr. Reddy enthusiastically oversees various
administrative activities and is keenly involved in identifying opportunities
for future growth and other strategic activities. Mr. Reddy worked for Udayam
News Paper prior to joining subject. Mr. Reddy received a bachelor’s degree in
arts from Osmania University and a master’s degree in business administration
from Jawaharlal Nehru Technological University.
Vinod Kumar Agarwal, Executive
Director, Production
Vinod Agarwal has been a member of
Medha’s board of directors since 2002. Mr. Agarwal joined Medha in 1993 as a
Production Engineer. He was promoted to Production Manager in 1995 and to
General Manager, Production in 1999 before joining the board of directors. Mr.
Agarwal has given a number of fruitful years of his career to subject and he is
currently responsible for production and quality control of all products at
Medha. Mr. Agarwal also serves as a management representative for ISO 9001:2000
quality system. His expertise lies in electronics industry in the area of
production methods and practices. Mr. Agarwal worked for Consys Electronics as
Project Engineer for three years prior to joining Medha. He received a
bachelor’s degree in electrical and electronics engineering from Nagpur
University.
Subodh Yeotikar, Executive Director,
Control Electronics
Subodh Yeotikar has been a member of subject board of directors since 2002. Mr.
Yeotikar joined Medha in 1999 as Assistant General Manager, Control
Electronics. He is a pioneer in developing products for locomotive control,
speed and energy monitoring systems. Currently, he oversees overall system
level research, design, complete product development and field failure
analysis. Mr. Yeotikar began his career with Hindustan Brown Boveri as Research
and Development Engineer, where he worked for three years. Over the years, he has
gained more than 20 years of experience in product research and development and
control and monitoring systems for railways and automobiles. Mr. Yeotikar
received a bachelor’s degree in electrical engineering from Government
Engineering College and a master’s degree in electrical engineering from Indian
Institute of Technology.
Y. Kasyap Reddy, Executive Director,
Business Development
Kasyap Reddy has been a member of Medha’s board of directors since 2008. He
joined subject in 2006 as Manager, Marketing and was promoted to Manager,
Business Development in 2007. He is responsible for marketing subject products
internationally, interacting with customer on technical matters relating to new
products, identifying product ideas for new product development, and overseeing
development of new products. Mr. Reddy is also involved in various strategic
activities of subject. Mr. Reddy began his career with Analog Devices Inc.,
USA, where he worked as an Applications Engineer for three years prior to
joining subject. Mr. Reddy received a bachelor’s degree in electronics and
communications engineering from Muffakam Jah College of Engineering and
Technology, a master’s degree in electrical engineering from Virginia
Polytechnic Institute and State University, and has a master’s in business
administration from Indian School of Business.
Milestones
Starting from a humble
beginning with manufacturing Speed Recorders for Indian Railways, Medha has
grown to become the only Indian company that can conceive and develop sophisticated
products that command their customer’s admiration every day. Today, subject innovative and high
quality products and services are well recognised in the industry. Their
milestones take you through history, showing you how we expanded our product
range and grew over the past 25 years.
It’s a well acknowledged
fact in the industry that subject takes on every challenge as an opportunity to make a
mark on history. These milestones are stepping stones on the path of subject vision of becoming a
‘World Leader in Railway Products’.
|
1984 |
·
Founded Medha
Servo Drives Private Limited ·
Medha's first
product development, a Servo Motor |
|
1985 |
Medha establishes a new corporate office in the
industrial hub of Nacharam, Hyderabad, India |
|
1986 |
Development of Stepper Motor |
|
1990 |
Development of MRT 912, a digital Speed, Time and
Distance Recorder for diesel and electric locomotives of Indian Railways.
This is the first Microprocessor based system on Indian locomotives. |
|
1996 |
Medha establishes a new manufacturing unit built on
8.5 acres of industrial area at Ghatkesar, Hyderabad, India |
|
1997 |
Medha is awarded ISO 9001 and Q9001:2000
certification by American Quality Assessors |
|
2001 |
·
Development of India's
first and only indigenous Microcontroller Based Governor (MEG-601) for diesel
engines used in diesel electric locomotives of Indian Railways ·
Developed MRT 918
Speed, Time and Distance Recorder ·
Developed MRT 921 Speed,
Time, Distance and Energy Recorder |
|
2002 |
·
Development of
India's first and only Microprocessor Based Locomotive Control System
(MEP-660) for diesel electric locomotives in a record time of 4 months from
conception to field trials ·
Development of Microprocessor
Based Control and Fault Diagnostic System (MCS 654) for electric locomotives
of Indian Railways |
|
2003 |
Development of Under Slung 25 KVA Inverter (MIN 253)
for air conditioned coaches |
|
2004 |
Medha establishes a new R&D Centre in Cherlapalli,
Hyderabad, India |
|
2005 |
Development of 180 KVA Static Converter (MIN 184)
for electric locomotives |
|
2007 |
·
Medha establishes
'Medha Charitable Trust' to support underprivileged students. Medha promises
to support Charitable Educational Trust with its annual profits every ·
Medha Charitable
Trust helps over 15,000 students with books in the first year ·
Medha starts a
housing scheme to allot houses to Manufacturing Unit employees based on
seniority and to R and D Centre employees based on performance |
|
2008 |
·
Medha's sales
revenue crosses INR 1000.000 millions (US$ 25 million) ·
Development of
India's first and only indigenous 3MW Traction Converter (MAS 696 AC-AC
Traction System) and installed on EMD design locomotive of Indian Railways
(WDG4) ·
Development of
Electronic Interlocking System (MEI 633) for Signalling application in Indian
Railways is completed after 4 years of rigorous development in this safety
system ·
Medha is awarded
CMMI Level 3 certification for its design processes ·
Medha's employee
strength crosses 250 for R D Centre and 1000 for total company ·
Medha produces
5000th Speed Recorder |
|
2009 |
·
Medha celebrates
its Silver Jubilee ·
Medha produces
1000th Microcontroller based Governor for Indian Railways ·
Medha produces
1000th Microprocessor based Locomotive Control system for Indian
Railways ·
Medha exports its
Microcontroller based Governor to Mozambique ·
Medha exports its
Microprocessor based Locomotive Control System to Mozambique |
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.45.24 |
|
|
1 |
Rs.72.57 |
|
Euro |
1 |
Rs.63.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.