MIRA
INFORM REPORT
|
Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
VUPPALAMRITHA MAGNETIC COMPONENTS LIMITED (w.e.f. 21.08.2007) |
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Formerly Known
As : |
VUPPALA MAGNETIC COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
7013, Emerald House, |
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Country : |
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Financials (as
on) : |
30.06.2010 |
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Date of
Incorporation : |
20.02.1997 |
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Com. Reg. No.: |
01-026477 |
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CIN No.: [Company Identification
No.] |
U29199AP1997PLC026477 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV08413G |
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PAN No.: [Permanent Account No.] |
AABCV4225A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
To design, develop and manufacture magnetic components in various
power and telecom products. |
RATING & COMMENTS
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MIRA’s Rating : |
A (59) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 12280000 |
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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. Financial position
of the company to be sound. Trade relations are reported as fair. 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
|
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 : |
7013, Emerald House, |
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Tel. No.: |
91-40-23541385 |
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Fax No.: |
91-40-66317805 |
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E-Mail : |
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Website : |
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Corporate Office : |
307, 3RD Floor, Ashoka My Home Chambers, Sardar patel Road,
Secunderabad – 500003, |
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Tel. No.: |
91-40-66313126 / 27 |
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Fax No.: |
91-40-66317805 |
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Corporate Office 2 : |
M C H No. 1-8-301, Secunderabad – 500003, |
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Marketing Office : |
20, F-Block, United |
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Tel. No.: |
91-11-23310887 |
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Fax No.: |
91-11-43528660 |
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Manufacturing
Unit 1 : |
Nacharam |
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Address : |
3rd Floor, BRT Enclave, Nacharam, |
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Tel. No.: |
91-40-65760751 |
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Fax No.: |
91-40-27178049 |
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Manufacturing
Unit 2 : |
Mallapur I |
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Address : |
3A, Road No.2, Mallapur, |
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Tel. No.: |
91-40-64577543 |
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Fax No.: |
91-40-27176465 |
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Manufacturing
Unit 3 : |
Mallapur II |
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Address : |
A – 28/1/12, IDA Nacharam, |
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Manufacturing Unit
4 : |
Malakpet |
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Address : |
16-11-19 Saleem Nagar, MAlakpet, |
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Tel. No.: |
91-40-66788853 / 4 |
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Fax No.: |
91-40-66788852 |
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Manufacturing
Unit 2 : |
Maheshwaram |
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Address : |
Plot No.23/A, Survey No.1/P, Kancha Imarat Hardware Technology Park,
Srisailam Highway (Near Shamsabad International Airport), R.R. District,
Hyderabad, India |
DIRECTORS
As on 30.12.2010
|
Name : |
Mr. Vuppalapati Hima Bindu |
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Designation : |
Managing Director |
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Address : |
H. No.16-11/19, Sallem Nagar, Maakpet, |
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Date of Birth/Age : |
02.10.1969 |
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Date of Appointment : |
20.02.1997 |
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DIN : |
01582051 |
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Name : |
Mr. Bhagwatula Venkata Ramana |
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Designation : |
Whole-time Director |
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Address : |
F. No.404, Lotus For a Apartments, P. No. 4 and 5, H. No. 1-10-38/2/6,
Begumpet, |
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Date of Birth/Age : |
11.12.1962 |
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Date of Appointment : |
23.09.1998 |
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DIN : |
01270825 |
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Name : |
Mr. Coopoosamy Deven |
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Designation : |
Director |
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Address : |
42, MOrc, Gurubhurun, Petit Verger, Pointe Auxi Sables |
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Date of Birth/Age : |
17.12.1968 |
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Date of Appointment : |
30.10.2008 |
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DIN : |
02444284 |
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Name : |
Mr. Owasil Abdool Azize |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
26.01.1974 |
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Date of Appointment : |
30.10.2008 |
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DIN : |
02632866 |
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Name : |
Mr. Rajesh Kumar Dugar |
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Designation : |
Alternate Director |
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Address : |
31, Chitrakoot, |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
30.10.2008 |
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DIN : |
00307729 |
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Name : |
Mr. Abhinav Sinha |
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Designation : |
Alternate Director |
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Address : |
F. No.1902, Sukhadha Apartments, |
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Date of Birth/Age : |
05.05.1976 |
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Date of Appointment : |
30.10.2008 |
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DIN : |
02654104 |
KEY EXECUTIVES
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Name : |
Mr. V Roja Rani |
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Designation : |
Secretary |
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Address : |
Flat No.304, HIG – 540/7, KPBH Colony, Kukatpaly, |
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Date of Birth/Age : |
17.06.1977 |
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Date of Appointment : |
01.04.2010 |
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PAN No. : |
AAFPE2554A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.12.2010
|
Names of Shareholders |
|
No. of Equity
Shares |
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Mr. B. Hima Bindu |
|
16318776 |
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V. venkata Rama Rao |
|
2497087 |
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Mr. Bhagwatula Venkata Ramana |
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2384087 |
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Dinesh Kumar Singhi |
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1100000 |
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P.s. Shahtry |
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10 |
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Chttaranjan Dash |
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10 |
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A.N. Sarma |
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10 |
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BHogi Sugunkara Rao |
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10 |
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10 |
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FIL Capital Management ( |
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1 |
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Multi Consult Trustees Limited |
|
99 |
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Total |
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22300100 |
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Names of Shareholders |
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No. of
Preference Shares |
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FIL Capital Management ( |
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205700 |
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Multi Consult Trustees Limited |
|
27294300 |
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Total |
|
27500000 |
As on 30.12.2010
|
Category |
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Percentage |
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Directors or relatives of directors |
|
95.07 |
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Other top 50 shareholders |
|
04.93 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To design, develop and manufacture magnetic components in various
power and telecom products. |
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Products : |
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PRODUCTION STATUS (As on 30.06.2010)
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Particulars |
Unit |
Licensed and Installed Capacity |
Actual
Production |
|
Power |
Sets |
7,000,000 |
2641,054 |
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Terminal |
Sets |
3,170,000 |
1658,295 |
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Transmission |
Sets |
72,000 |
48,093 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Associates Chartered Accountant |
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Address : |
Reliance Humsafar, Road No.11, Banjara Hills, |
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Pan No. : |
AAIFB7355D |
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Subsidiary Company : |
VMC Telecom Services Private Limited CIN : U64200AP2009PTC065939 |
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Related Party : |
Prithvi Info Solutions Limited |
CAPITAL STRUCTURE
As on 30.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,000,000 |
Equity Share |
Rs.10/- each |
Rs.350.000 million |
|
30,000,000 |
Preference Shares |
Rs.10/- each |
Rs.300.000
million |
|
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Total |
|
Rs.650.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,300,100 |
Equity Share |
Rs.10/- each |
Rs.223,001
million |
|
27,500,000 |
Preference Shares |
Rs.10/- each |
Rs.275.000
million |
|
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Total |
|
Rs.498.001 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
498.001 |
498.001 |
87.066 |
|
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2] Share Application Money |
10.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
2562.221 |
1717.629 |
352.654 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
3070.222 |
2215.630 |
439.720 |
|
|
LOAN FUNDS |
|
|
|
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1] Secured Loans |
5617.854 |
1569.129 |
586.289 |
|
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2] Unsecured Loans |
36.537 |
36.537 |
176.589 |
|
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TOTAL BORROWING |
5654.391 |
1605.666 |
762.878 |
|
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DEFERRED TAX LIABILITIES |
28.033 |
26.367 |
15.962 |
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TOTAL |
8752.646 |
3847.663 |
1218.560 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
219.685 |
208.949 |
140.933 |
|
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Capital work-in-progress |
526.484 |
122.694 |
84.155 |
|
|
|
|
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INVESTMENT |
0.999 |
0.000 |
0.000 |
|
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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 |
229.066
|
107.573 |
259.462 |
|
|
Sundry Debtors |
8139.215
|
4820.444 |
3675.594 |
|
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Cash & Bank Balances |
3361.702
|
1946.386 |
141.613 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
649.434
|
277.124 |
56.035 |
|
Total
Current Assets |
12379.417
|
7151.527 |
4132.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
3376.769
|
3119.740 |
2920.336 |
|
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Other Current Liabilities |
436.135
|
194.806 |
79.743 |
|
|
Provisions |
561.035
|
320.961 |
139.442 |
|
Total
Current Liabilities |
4373.939
|
3635.507 |
3139.521 |
|
|
Net Current Assets |
8005.478
|
3516.020 |
993.183 |
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.289 |
|
|
|
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|
|
|
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TOTAL |
8752.646 |
3847.663 |
1218.560 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
10113.379 |
6693.977 |
4078.539 |
|
|
|
Other Income |
147.249 |
81.713 |
7.950 |
|
|
|
TOTAL (A) |
10260.628 |
6775.690 |
4086.489 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
7975.113 |
5555.222 |
3426.593 |
|
|
|
Increase/decrease in stocks |
(20.468) |
(11.336) |
(36.451) |
|
|
|
Personnel Cost |
123.796 |
77.213 |
40.515 |
|
|
|
Manufacturing Expenses |
53.601 |
56.808 |
|
|
|
|
Administrative and Selling Expenses |
428.202 |
144.375 |
|
|
|
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TOTAL (B) |
8560.244 |
5822.282 |
3550.923 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1700.384 |
953.408 |
535.566 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
391.006 |
172.033 |
79.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1309.378 |
781.375 |
456.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.157 |
32.388 |
17.411 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1274.221 |
748.987 |
438.970 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
429.629 |
209.023 |
137.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
844.592 |
539.964 |
301.736 |
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.631 |
352.653 |
50.917 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
844.762 |
847.986 |
0.000 |
|
|
|
Dividend |
|
|
|
|
|
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Tax on Dividend |
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
44.461 |
44.631 |
352.653 |
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
7898.376 |
5405.670 |
3374.099 |
|
|
|
Capital Goods |
24.550 |
137.611 |
8.756 |
|
|
TOTAL IMPORTS |
7922.926 |
5543.281 |
3382.855 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
37.87 |
28.57 |
52.95 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
8.23
|
7.97 |
7.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.60
|
11.19 |
10.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.11
|
10.18 |
10.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.34 |
1.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.27
|
2.37 |
8.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
1.97 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 16-11-231/M/31, East
Prashantnagar, Moosarambagh,
REVIEW OF
OPERATIONS
During the Year 2009-10, the company has reported gross revenues
of Rs.10,546.40 millions as against Rs.6,937.39 Millions of revenues registered
in the previous year up by 52.02%. Net Profit after Tax posted was Rs.844.59
Millions as against Rs.539.96 millions for the previous year, growth of 56.42 %
compared to previous year. The Financial year 2009-10 is yet another year of
significant growth. The company has depicted accelerated growth rate of its
operations from year to year
A Detailed discussion on the results of the operations and
the financial position is included in the 'Management Discussion and Analysis
Report' section placed at Annexure -III.
BUSINESS OVERVIEW,
DEVELOPMENT AND OPPORTUNITIES OUTLOOK:
As a result of the policy and regulatory initiatives over
the years, the growth of subscribers connected to the Indian telecommunications
network has seen a CAGR of 44.66% over last 5 years. The number of connections
was 742.12 million at the end of October 2010 and is projected to grow to 1
billion by 2014, taking the teledensity to about 100%. The gross revenue figure
reported by the service providers for 2009-10 is Rs 1,57,9847.600 million. With
the introduction of 3G and the possibility of 4G in the near future, the data
consumption is likely to multiply manifold
In 2008-09 alone, as per Directorate General of Commercial
Intelligence and Statistics (DGCIS) data, equipment worth Rs.461.58 billion was
imported by the Indian telecom operators. According to a KPMG report, the
telecom equipment market in
The growth potential of the Indian telecommunications
market is well recognized. Massive growth in the number of subscribers would
require networks to be upgraded, new technologies inducted and new services
offered. This would create huge demand for switching, transmission and
subscriber equipment. It is estimated that for 3G alone the investment would be
of the order of US$ 15 billion. Demand for the network elements would translate
into requirement for components, test and auxiliary equipment. The overall
requirement is expected to be of the order of US $100 billion.
CAPACITY EXPANSION
The Company is establishing the first "green" manufacturing
facility in Andhra Pradesh at Maheshwaram, near
STRATEGIC
ACQUISITIONS AND DEVELOPMENTS
The company views strategic acquisitions as a method to rapidly acquire
product design expertise, and to use
its manufacturing strength, to shorten product introduction lead times.
The company is presently working on target acquisitions, that will bolster the
product range that can be manufactured in
BACKGROUND
Vuppalamritha Magnetic Components Limited ("the Company") was
incorporated on February 20, 1997 with an objective to design, develop and
manufacture magnetic components in various power and telecom products in
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29199AP1997PLC026477 |
|
Name of the
company |
VUPPALAMRITHA MAGNETIC
COMPONENTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
7013, Emerald
House, Andhra Pradesh –
500003, |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10175817 |
|
Type of charge |
|
|
Particular of
charge holder |
Andhra Bank, 6-3-352/2, Upper Ground Floor, Astral Heights, Road no.1,
Banjara Hills Hyderabad – 500034, Andhra Pradesh, India Email : bmhydm534@andhrabank.co.in |
|
Nature of
instrument creating charge |
Composite
Agreement Dt: 29.10.2010. |
|
Date of
instrument Creating the charge |
29.10.2010 |
|
Amount secured by
the charge |
Rs.6400.000
million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- OCC: Base Rate+4% (Presently at 13 %) ILC/FLC: 50% of applicable
commission BG: 50% of
applicable commission in line with SBI Term Loan: Base
rate +3.25% +0.25 (TP) presently 12.50% Terms of
Repayment - Term Loan: Repayable in 18 quarterly installments of Rs.11.100
million commencing from 31.12.2011 and other terms as per sanction letter. Margin - OCC: 25%
on RM, WIP, and FG, 25% on book debts less than 120 days ILC/FLC: 7.5% BG: 7.50 % Term Loan: 33.33% Extent and
Operation of the charge - The charge operates as security, inter alia, for the
due repayment by the company to the Andhra Bank, for its limits sanctioned
to the extent of Rs.6400.000 millions,
together with interest, additional interest, liquidated damages, commitment
charges, premia on prepayment or on redemption, costs, charges, expenses and
all other moneys. Others - Limits: OCC: Rs.600.000
million ILC/FLC:
Rs.4000.000 million BG: Rs.1600.000
million Term Loan:
Rs.200.000 millions Total:
Rs.6400.000 million |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Paripassu
charge along with other WC Bankers on the entire current assets of the
company, present and future. First
pari passu charge on the entire fixed assets of the company along with other
term lenders (present and future) Other security terms as per the Sanction
letter. |
|
Particulars of
the present modification |
Renewal cum
enhancements of limits as given below : OCC: Rs.600.000
million ILC/FLC:
Rs.4000.000 million BG: Rs.1600.000
million Term Loan:
Rs.200.000 millions Total:
Rs.6400.000 million Present
modification of Charge is to secure Total sanction limits of Rs. 6400.000
million. (Earlier charge was created for total limits of Rs.4400.000 millions
only) |
Contingent Liabilities
:
(Rs. In Million)
|
Particulars |
As at 30.06.2010 |
As at 30.06.2009 |
|
Counter Guarantees
provided by the Company to various banks against issue
of Bank Guarantees on behalf of the Company by such banks |
1627.384 |
629.296 |
|
Counter Guarantees
provided by the Company to various banks against issue
of Letter of credits on behalf of the Company by such banks |
4469.470 |
1505.351 |
|
Capital
Commitments-Estimated amount of contracts(net of advances) remaining
to be executed on capital account and not provided for |
65.923 |
16.613 |
FIXED ASSETS :
- Land
- Plant and Machinery
- Furniture and Fixtures
- Computers
- Motor Vehicles
- Lease Hold Improvements
AS PER WEBSITE
PROFIE
Subject provides a wide range of telecom products and services to meet
the needs of telcos and OEM customers, using strong product design, product
engineering, quality sourcing and internationally certified manufacturing
practices, to deliver un-matched quality at competitive TCO (Total Cost of
Ownership).
With support from Fidelity Capital, Subject is set to grow into a telecom
product powerhouse, with a strong emphasis on local value addition and support,
using a variety of business models.
Subject has partnered several leading international manufacturers of telecom
equipment to bring a wide range of sophisticated products, engineered to meet
exacting environmental standards in
HISTORY
2009
- Commissioned
Phase-I of the new manufacturing facility at Maheshwaram
- Bagged the
order worth around 500cr for supply of STM 16 and DXC
- Established
Plant 5 for Customer premise equipments
- Proprietary
power products approval from multiple OEMs
2008
- Equity
infusion of INR 1100 M by Fidelity International
- State of the
art plant 4 set up for PCB assembly
2007
- Tie-up with
Huawei for system integration
- Won the first
100M order
- Set up plant
2 and 3 with ISO certifications
2006
- Supply of
code division multiple access (CDMA) fixed wireless terminals (FWT) to
BSNL against their tender along with the technical tie up with L.G
Electronics,
- The company
received “SE 2B” rating from CRISIL which indicates high performance
capability and moderate financial strength for SME
2005
- Established
first plant with 150K pieces capacity per month
- ISO 9000
certification
- Plant
certified by Flextronics
2004
- First
international tie-up with LG
- Technical
consultant to BSNL in 2004
2003
- Design and
development of the embedded switched mode battery chargers for hand held
terminals with storage devices viz., (i) Li-Ion, (ii) NimH battery packs
(iii) Lead acid battery packs
1998
- VMC set up
- Commercial
production initiated in 2003
BOARD OF DIRECTORS
Subject is powered by a highly-qualified and experienced Board of
Directors, with a proven track record of successful execution of technically
challenging assignments coupled with a strong business focus. Guided by the
Board of Directors, and led by a strong management team, Subject aims to build
a global telecom equipment powerhouse serving the Indian and the international
markets from its design and manufacturing base in
Mr. V. Rama Rao – Chairman
M.Sc. (Electronics)
Mr. Rama Rao has over 35 years of experience in research and teaching in
the field of Electronics and Communications Engineering, having been associated
with a number of leading educational and research institutions, such as, the
Indian Institute of Science, University of Patiala, Kakinada Engineering College,
BITS-Pilani, Bhabha Atomic Research Centre, Defence Research and Development
Laboratory, ECIL, etc. He brings a rare combination of technical knowledge and
strategic business direction to the company.
Ms. B. Hima Bindu - Managing Director
M.Sc. (Physics), Indian
Certificate in Management, Indian Institute of Management, Ahmedabad
Ms. Hima Bindu has over 17 years of experience in various capacities,
including research in Electromagnetics, design of magnetic components, electronic
circuit design, manufacture of electronic appliances, component sourcing,
operations planning, new product development etc. As the Managing Director, she
is responsible for the entire day-to-day operations of the company.
Mr. B. Venkataramana - Executive Director
B. Tech. (Electrical Engineering - Electronics), IIT,
Post-Graduate Diploma in Management, Indian Institute of Management,
Mr. Venkataramana has over 21 years of experience in finance,
information systems, embedded software technology and business planning
activities. As the Executive Director, he is responsible for all Finance, HR
and Administration activities, as well as the Software Research Group involved
in new product development.
Directors
Mr. Deven Coopoosamy
(Alternate Director: Mr. Rajesh Kumar Dugar)
Mr. Abdool Azize Owasil
(Alternate Director: Mr. Abhinav Sinha)
Mr. Raj Dugar - Senior Managing Director
FIL Capital Advisors (
MBA from
AB degree from Dartmouth College where he double majored in Engineering
and Economics
Raj is the Senior Managing Director of FIL Capital Advisors (
During his private equity career, Raj has worked in The Carlyle Group
and was earlier the co-founder and Managing Director of WestBridge Capital
Partners (now Sequoia
Raj started his career as a management consultant with Booz Allen and
Hamilton where he worked both in
Mr. Abhinav Sinha - Associate Director
FIL Capital Advisors (
Degree in Electronics and Communication Engineering from REC, Trichy
MBA from Indian Institute of Management,
Abhinav has over a decade of experience in private equity and management
consulting industries.
During his private equity career, Abhinav has worked with the Boards of
several firms such as Sanghvi Movers-a leading crane leasing firm, Apar
Industries-a power equipment and consumables firm, EKC-a natural gas storage
firm , Jyothy Laboratories-an emerging Indian FMCG, Luminous Industries- a
leading inverter manufacturer and Orind Industries- global refractory
manufacturer.
Most recently, Abhinav worked with CLSA Capital Partners in
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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.