1. Summary Information
|
|
|
Country |
|
|
Company Name |
OM SURYA
ELECTRONICS PRIVATE LIMITED |
Principal Name 1 |
Mr. Kanhaiyalal Sethia |
|
Status |
Good |
Principal Name 2 |
Mr. Sunil Kumar Jain |
|
|
|
Registration # |
01-21880 |
|
Street Address |
16, Model House, Panjagutta, Hyderabad-500082, |
||
|
Established Date |
29.09.1995 |
SIC Code |
-- |
|
Telephone# |
91-40-23350254 / 23354551 / 66103435 |
Business Style 1 |
Trader |
|
Fax # |
91-40-23351436 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Electronic Goods |
|
# of employees |
22 |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
1,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors-100% |
Banking |
ICICI Bank |
|
Public Limited Corp. |
NO |
Business Period |
16 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(54) |
|
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 |
83,976,000 |
Current Liabilities |
74,981,000 |
|
Inventories |
28,666,000 |
Long-term Liabilities |
0 |
|
Fixed Assets |
1,630,000 |
Other Liabilities |
3,263,000 |
|
Deferred Assets |
0 |
Total Liabilities |
78,244,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
34,528,000 |
|
|
|
Net Worth |
36,028,000 |
|
Total Assets |
114,272,000 |
Total Liab. & Equity |
114,272,000 |
|
Total Assets (Previous Year) |
112,068,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
624,807,000 |
Net Profit |
6,797,000 |
|
Sales(Previous yr) |
615,786,000 |
Net Profit(Prev.yr) |
6,650,000 |
MIRA
INFORM REPORT
|
Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
OM SURYA ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
16, Model House, Panjagutta, Hyderabad-500082, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
29.09.1995 |
|
|
|
|
Com. Reg. No.: |
01-21880 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U32100AP1995PTC021880 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDO00124F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject Acts as a Trader of Electronic Goods. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 144000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established retailer of Consumer and Entertainment
Electronics. Trade relations are fair. Financial Position is good. Payments
are usually Correct and as per Commitments.
The Company is doing well. It can be considered good for any normal 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 : |
16, Model House, Panjagutta, |
|
Tel. No.: |
91-40-23350254 / 23354551 / 66103435 |
|
E-Mail : |
DIRECTORS
As on 15.09.2010
|
Name : |
Mr. Kanhaiyalal Sethia |
|
Designation : |
Director |
|
Address : |
Plot No. 100, Road No. 71, Nav Nirman Nagar Colony, Hyderabad-500034, |
|
Date of Birth: |
24.08.1954 |
|
Date of Appointment : |
29.09.1995 |
|
DIN : |
00956001 |
|
|
|
|
Name : |
Mr. Sunil Kumar Jain |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 303, Siddi Apartments, |
|
Date of Birth: |
15.08.1965 |
|
Date of Appointment : |
29.09.1995 |
|
DIN : |
01195244 |
|
|
|
|
Name : |
Mr. Vinod Jain |
|
Designation : |
Director |
|
Address : |
H. NO.6-3-563/K, Flat No.301, Janaki Apartments, Erramanzil Colony,
Punjagutta, Somajiguda, |
|
Date of Birth: |
26.01.1964 |
|
Date of Appointment : |
15.09.2009 |
|
DIN : |
02714604 |
|
|
|
|
Name : |
Mr. Vineet Kumar Sethia |
|
Designation : |
Director |
|
Address : |
Plot No. 100, Road No. 71, Nav Nirman Nagar Colony, Hyderabad-500034, |
|
Date of Birth: |
22.11.1979 |
|
Date of Appointment : |
15.09.2009 |
|
DIN : |
02749554 |
|
|
|
|
Name : |
Mrs. Vijaya Sethia |
|
Designation : |
Director |
|
Address : |
Plot No. 100, Road No. 71, Nav Nirman Nagar Colony, Hyderabad-500082, |
|
Date of Birth: |
24.08.1954 |
|
Date of Appointment : |
15.09.2010 |
|
DIN : |
03172587 |
|
|
|
|
Name : |
Mr. Anju Jain |
|
Designation : |
Director |
|
Address : |
Flat No.303, 7-1-28/B, Suddi Apartments, |
|
Date of Birth: |
07.01.1956 |
|
Date of Appointment : |
15.09.2010 |
|
DIN : |
03172619 |
KEY EXECUTIVES
|
Name : |
Mr. A Chandra Shekhar |
|
Designation : |
Company Secretary |
|
Address : |
Agarwal Chambers, King Kothi, Hyderabad-500001, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2010
|
Names of Shareholders |
No. of Shares |
|
Sunil Jain |
4500 |
|
K L Sethia |
4510 |
|
Kanchan Jain |
3000 |
|
Vineeth Sethia |
1495 |
|
Vijaya Sethia |
1495 |
|
Total |
15000 |
As on 15.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject Acts as a Trader of Electronic Goods. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
22 (Approximately) |
||||||||||||
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|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh Athasniya and Company Chartered Accountants |
|
Address : |
5-9-1121, F-45 and 46, Agarwal Chambers, King Kothi, Hyderabad-500001,
|
|
Tel. No.: |
91-40-23235418 / 23298399 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 15.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Share |
Rs.100/- Each |
Rs. 3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Share |
Rs.100/- Each |
Rs. 1.500
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 |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34.528 |
27.731 |
21.081 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
36.028 |
29.231 |
22.581 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.102 |
0.392 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
20.655 |
|
|
TOTAL BORROWING |
0.000 |
0.102 |
21.047 |
|
|
DEFERRED TAX LIABILITIES |
0.125 |
0.150 |
0.205 |
|
|
|
|
|
|
|
|
TOTAL |
36.153 |
29.483 |
43.833 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.630 |
1.943 |
2.035 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
28.666
|
45.988
|
52.552
|
|
|
Sundry Debtors |
68.011
|
54.749
|
51.110
|
|
|
Cash & Bank Balances |
7.878
|
1.877
|
1.753
|
|
|
Gold Bullion |
0.229
|
0.229
|
0.000
|
|
|
Loans & Advances |
7.858
|
7.282
|
8.938
|
|
Total
Current Assets |
112.642
|
110.125
|
114.353 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.534
|
2.079
|
64.230
|
|
|
Sundry Creditors |
74.447
|
77.406
|
5.759
|
|
|
Provisions |
3.138
|
3.100
|
2.566
|
|
Total
Current Liabilities |
78.119
|
82.585
|
72.555 |
|
|
Net Current Assets |
34.523
|
27.540
|
41.798 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
36.153 |
29.483 |
43.833 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
624.807 |
615.786 |
534.220 |
|
|
|
Other Income |
1.577 |
4.175 |
4.372 |
|
|
|
TOTAL (A) |
626.384 |
619.961 |
538.592 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
582.974 |
586.797 |
520.751 |
|
|
|
Administration and Other Expenses |
13.395 |
12.130 |
10.821 |
|
|
|
Director’s Remuneration |
2.400 |
1.800 |
0.960 |
|
|
|
Increase / Decrease in inventories |
17.322 |
6.564 |
(5.989) |
|
|
|
TOTAL (B) |
616.091 |
607.291 |
526.543 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.293 |
12.670 |
12.049 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.019 |
2.546 |
3.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.274 |
10.124 |
8.339 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.365 |
0.378 |
0.357 |
|
|
|
|
|
|
|
|
|
Less |
Adjustment For
Prior Period Items |
0.000 |
0.013 |
(0.055) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.909 |
9.733 |
8.037 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
3.112 |
3.083 |
2.584 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
6.797 |
6.650 |
5.453 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.731 |
21.081 |
15.628 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
34.528 |
27.731 |
21.081 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
453.14 |
443.36 |
364.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.09 |
1.07 |
1.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.59 |
1.58 |
1.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.67 |
8.68 |
6.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.33 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.17 |
2.83 |
4.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.33 |
1.58 |
LOCAL AGENCY FURTHER INFORMATION
Operations :
During the year the performance of the company was satisfactory. The turnover
of the company has increased marginally.
Bankers Charges
Report as per Registry
FORM 8
|
Name of the company |
OM SURYA ELECTRONICS PRIVATE LIMITED |
|
Presented
By |
Mr. Sunil Kumar Jain, Managing Director |
|
1) Date and description of instrument creating the change |
08.09.1999 Hypothecation of Book Debts. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 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 all types of Electrical and Electronic goods and book debts. |
|
4) Gist of the terms and conditions and extent and Operation of the charge. |
i) Equitable Mortgage with Interest 16% p.a. with Quarterly interest + tax. ii) Collateral Security Plant and machinery of Residential Rouse Property of Mrs. Vijaya Sethia. iii) Personal Guarantee of all the directors and Mrs. Vijaya Sethia. |
|
5) Name and Address and description of the Person entitled to the charge. |
Mr. Sunil Kumar Jain, Managing Director 810, Tej Karan Jain, Flat No. 2,
Anuradha Apartments, Erramanzil Colony, |
|
6) Date and brief description of instrument modifying the charge |
Not Available |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Available |
Fixed assets
- Furniture
- Vehicles
- Air Conditioner
- Office Equipment
- Computers
- Printer
- Godrej Safe
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 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. 45.09 |
|
|
1 |
Rs. 72.82 |
|
Euro |
1 |
Rs. 63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
54 |
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.