1. Summary Information
|
|
|
Country |
India |
|
Company Name |
FUSION
ELECTRONICS PRIVATE LIMITED |
Principal Name 1 |
Mr. Sameer Mehan |
|
Status |
Good |
Principal Name 2 |
Mr. Rajesh Ramchandani |
|
|
|
Registration # |
20-017082 |
|
Street Address |
F-23-25,
Sarojini Nagar, Industrial Area, Lucknow – 226008, Uttar Pradesh, India |
||
|
Established Date |
24.10.1994 |
SIC Code |
-- |
|
Telephone# |
91-522-6570686 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-522-2436022 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Flexible Printed Circuit Board |
|
|
# of employees |
Not Applicable |
Product Name 2 |
Assemble |
|
Paid up capital |
Rs.9,900,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors - 100.00% |
Banking |
Punjab National Bank |
|
Public Limited Corp. |
No |
Business Period |
18 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(53) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
120,442,000 |
Current Liabilities |
11,782,000 |
|
Inventories |
18,853,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
65,116,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
11,782,000 |
|
Invest& other Assets |
22,186,000 |
Retained Earnings |
204,915,000 |
|
|
|
Net Worth |
214,815,000 |
|
Total Assets |
226,597,000 |
Total Liab. & Equity |
226,597,000 |
|
Total Assets (Previous Year) |
193,405,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
248,304,000 |
Net Profit |
77,412,000 |
|
Sales(Previous yr) |
269,340,000 |
Net Profit(Prev.yr) |
100,446,000 |
MIRA
INFORM REPORT
|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
FUSION ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-23-25, Sarojini Nagar, Industrial Area, Lucknow – 226008, Uttar
Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.10.1994 |
|
|
|
|
Com. Reg. No.: |
20-017082 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28111UP1994PTC017082 |
|
|
|
|
IEC No.: |
0600006239 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Flexible Printed Circuit Board and
Assemble. |
|
|
|
|
No. of Employees
: |
Not Applicable |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regularly |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established company having good track. General
Financial position of the company appears to be good. Trade relations are
reported as fair. Business is active. Payments are reported to be regular 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory : |
F-23-25, Sarojini Nagar, Industrial Area, Lucknow – 226008, Uttar
Pradesh, India |
|
Tel. No.: |
91-522-6570686 |
|
Fax No.: |
91-522-2436022 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Leased – 2000 sq.fts |
|
Location : |
Owned |
|
|
|
|
Overseas Office : |
Located At Russia and North America |
DIRECTORS
As on 25.07.2011
|
Name : |
Mr. Sameer Mehan |
|
Designation : |
Director |
|
Address : |
1/22/, Vishwas Khand, Gomti Nagar, Lucknow – 226010, Uttar Pradesh,
India |
|
Date of Birth/Age : |
15.08.1950 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
24.10.1994 |
|
DIN No.: |
00724264 |
|
|
|
|
Name : |
Mr. Rajesh Ramchandani |
|
Designation : |
Director |
|
Address : |
C – 91, Nirala Nagar, Lucknow – 226020, Uttar Pradesh, India |
|
Date of Birth/Age : |
14.01.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
24.10.1994 |
|
DIN No.: |
00724150 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sameer Mehan |
|
49500 |
|
Rajesh Ramchandani |
|
49500 |
|
Total |
|
99000 |
As on 25.07.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Flexible Printed Circuit Board
and Assemble. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Actual
Production |
|
Printed Circuit Board |
1996813 |
GENERAL INFORMATION
|
Suppliers : |
·
Aeon Engineering ·
Apex Technologies ·
Deutsche Bank Card 4116 ·
DCM Precision company Limited ·
Fedral Express Corporation ·
Fischer Measurement Technology India Private Limited ·
Gardian Europe GMbH ·
Iron Product ·
S.S Cargo ·
Space Line Circuit ·
VDO Malaysia ·
Wise Worldwide Enterprise |
||||||||||||
|
|
|
||||||||||||
|
Customers : |
·
Automotive Lighting Polska Sp. Zoo Ul ·
Circuitos Impresos Professionals South Africa ·
Continantial Auomotive Instr, Mal ·
International Metal Company ·
Jns Instruments Limited ·
Magneti Maeli Auto Ele(Gn) Company Limited ·
Magneti Mareli Espana South Africa Spain ·
Minda Stoneride Instrument Limited ·
Prag Rubber Industries Private Limited ·
Pricol Limited ·
Tyco Electronics Corporation ·
Visteon Automotive System India Private Limited ·
Visteon Thailand Limited |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Small Industrial Development Bank of India, SIDBI
Tower, 15 Ashok Marg, Lucknow – 226001, Uttar Pradesh, India ·
Citi Bank ·
IDBI Bank ·
Punjab National Bank ·
ICICI Bank ·
Deutsche Bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Bhalla and Associate Chartered Accountants |
|
Address : |
202/03, Murli Bhavan 10-A, Ashok Marg, Lucknow– 226001, Uttar Pradesh,
India |
|
PAN.: |
AEAPB4714J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99000 |
Equity Shares |
Rs.100/- each |
Rs. 9.900 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
99000 |
Equity Shares |
Rs.100/- each |
Rs. 9.900 Millions |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.900 |
9.900 |
9.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
204.915 |
151.492 |
70.083 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
214.815 |
161.392 |
79.983 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
7.922 |
22.535 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
1.105 |
|
|
TOTAL BORROWING |
0.000 |
7.922 |
23.640 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
214.815 |
169.314 |
103.623 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
65.116 |
63.188 |
48.078 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
22.144 |
2.013 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.853
|
17.267 |
19.619 |
|
|
Sundry Debtors |
71.969
|
65.069 |
37.317 |
|
|
Cash & Bank Balances |
30.980
|
22.623 |
9.796 |
|
|
Other Current Assets |
1.682
|
0.126 |
0.122 |
|
|
Loans & Advances |
15.811
|
23.068 |
14.114 |
|
Total
Current Assets |
139.295
|
128.153 |
80.968 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.016
|
22.722 |
8.606 |
|
|
Other Current Liabilities |
1.766
|
1.369 |
4.565 |
|
|
Provisions |
0.000
|
0.000 |
12.311 |
|
Total
Current Liabilities |
11.782
|
24.091 |
25.482 |
|
|
Net Current Assets |
127.513
|
104.062 |
55.486 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.042 |
0.051 |
0.059 |
|
|
|
|
|
|
|
|
TOTAL |
214.815 |
169.314 |
103.623 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
248.304 |
269.340 |
147.259 |
|
|
|
Duty Draw Back |
2.361 |
2.875 |
1.354 |
|
|
|
Exchange Rate Fluctuation |
3.772 |
0.000 |
1.862 |
|
|
|
Other Income |
0.562 |
0.206 |
0.024 |
|
|
|
TOTAL (A) |
254.999 |
272.421 |
150.499 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
82.137 |
|
|
|
|
|
Manufacturing and other Expenses |
46.108 |
35.484 |
|
|
|
|
Preliminary expenses written off |
0.008 |
0.008 |
|
|
|
|
TOTAL (B) |
128.253 |
107.733 |
75.396 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
126.746 |
164.688 |
(Including
Finance Expenses ) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.446 |
2.578 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
126.300 |
162.11 |
75.103 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.382 |
9.182 |
6.938 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
115.918 |
152.928 |
68.165 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
38.506 |
52.482 |
24.911 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
77.412 |
100.446 |
43.254 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
150.313 |
68.904 |
68.165 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
19.800 |
15.840 |
42.515 |
|
|
|
Tax on Dividend |
3.288 |
3.197 |
|
|
|
BALANCE CARRIED
TO THE B/S |
204.638 |
150.313 |
68.904 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
200.491 |
230.685 |
120.757 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
782 |
1015 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
30.35
|
36.87 |
27.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
46.68
|
56.77 |
46.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
56.71
|
79.92 |
52.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.95 |
0.85 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.05
|
32.01 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.82
|
5.31 |
3.18 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
(Yes) |
|
2] |
Locality of the firm |
(Yes) |
|
3] |
Constitutions of the firm |
(Yes) |
|
4] |
Premises details |
(Yes) |
|
5] |
Type of Business |
(Yes) |
|
6] |
Line of Business |
(Yes) |
|
7] |
Promoter's background |
(Yes) |
|
8] |
No. of employees |
(No) |
|
9] |
Name of person contacted |
(No) |
|
10] |
Designation of contact person |
(No) |
|
11] |
Turnover of firm for last three years |
(Yes) |
|
12] |
Profitability for last three years |
(Yes) |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
(No) |
|
15] |
Capital in the business |
(Yes) |
|
16] |
Details of sister concerns |
(No) |
|
17] |
Major suppliers |
(Yes) |
|
18] |
Major customers |
(Yes) |
|
19] |
Payments terms |
(No) |
|
20] |
Export / Import details (if applicable) |
(No) |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
(Yes) |
|
24] |
Banking facility details |
(Yes) |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
(Yes) |
|
28] |
Incorporation details, if applicable |
(Yes) |
|
29] |
Last accounts filed at ROC |
(Yes) |
|
30] |
Major Shareholders, if available |
(Yes) |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
(Yes) |
|
32] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
|
34] |
External Agency Rating, if available |
(No) |
FIXED ASSETS
·
Computer System and
Accessories
·
Electrical Goods and
Fitting
·
Factory Building Account
·
Factory and Fixture
·
Lease Hold Land
·
Office Equipment
·
Plant and Machinery
·
Vehicles
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.55.70 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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 |
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.