MIRA INFORM REPORT

Report Date :

12.01.2012

IDENTIFICATION DETAILS

Name :	RANGSONS ELECTRONICS PRIVATE LIMITED
Registered Office :	347, D 1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570 016, Karnataka
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.06.1993
Com. Reg. No.:	08-14470
Capital Investment / Paid-up Capital :	Rs. 12.070 millions
CIN No.: [Company Identification No.]	U31909KA1993PTC014470
TAN No.: [Tax Deduction & Collection Account No.]	BLRR02027E
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit Assembly.
No. of Employees :	429 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 603000
Status :	Satisfactory
Payment Behaviour :	Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. There appears some losses incurred by the company in current year i.e. (2009-2010). However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	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/Factory/ Corporate Office:	Plot No. 347, D 1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570 016, Karnataka, India
Tel. No.:	91-821-2404550 – 554/ 4280000
Fax No.:	91-821-2404529/ 4280060/ 4000369
E-Mail :	phanisha@bgl.vsnl.net.in srinivasrao@reve.com info@revc.com
Website :	http://www.revc.com
Area :	20000 sq. fts.
Location :	Owned
Regional office:	Parvati Plaza, 1^st Floor, 104/105, Richmond Circle, Bangalore – 560 025, Karnataka, India
Tel. No.:	91-80-2272038
Fax No.:	91-80-2272039
E-Mail :	srinivasrao@revc.com
Bangalore Office :	77, Hope Farm, ITPL Road, White Field, Bangalore – 560 006, Karnataka, India.
Tel. No.:	91-80-41254701-02-03/ 4152 3820
Fax No.:	91-80-41254704
E-Mail :	info@revc.com nhashok@revc.com
Contact Person:	Mr. N H Ashok
Overseas office :	Located at Singapore, Dubai, Germany, France and USA

DIRECTORS

As on : 30.09.2011

Name :

Mr. Arjun Murthy Ranga

Designation :

Director

Address :

2634, II Main, Gokulam, V V Mohalla, Mysore – 570002, Karnataka, India

Date of Birth/Age :

30.04.1974

Date of Appointment :

31.03.2001

Din No.:

00235226

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	11/5/1998	11/5/1998	-	Active	NO
2	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	31/03/2001	31/03/2001	-	Active	NO
3	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Managing director	31/08/2001	31/08/2001	-	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27/01/2005	27/01/2005	-	Active	NO
5	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
6	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	7/5/2008	7/5/2008	-	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27/09/2010	16/11/2009	-	Active	NO
8	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	3/6/2011	3/6/2011	-	Active	NO
9	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Kiran Vasu Ranga

Designation :

Director

Address :

2980, 5^th Main Gokuldham, V.V. Mohalla, Mysore – 570 002, Karnataka, India

Date of Birth/Age :

29.03.1977

Date of Appointment :

14.07.2007

Din No.:

00235087

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74140KA1999PTC025824	VERTEBRAND MANAGEMENT CONSULTING PRIVATE LIMITED	Director	16/01/2004	16/01/2004	1/2/2008	Active	NO
2	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	24/01/2008	1/3/2004	-	Active	NO
3	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Director	24/03/2004	24/03/2004	-	Active	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Managing director	27/01/2005	27/01/2005	-	Active	NO
5	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
6	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	14/07/2007	6/7/2007	-	Active	NO
7	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	7/5/2008	7/5/2008	-	Active	NO
8	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Director	16/08/2011	18/10/2010	-	Active	NO
9	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	3/6/2011	3/6/2011	-	Active	NO

Name :

Mr. Pavan G. Ranga

Designation :

Director

Address :

3005, Gokulam, V.V. Mohalla, Mysore – 570002, Karnataka, India

Date of Birth/Age :

29.09.1975

Date of Appointment :

14.07.2007

Din No.: 

00235202

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74993KA1983PTC005435	PROSPERITY MARKETING SERVICES PRIVATE LIMITED	Director	31/01/2001	31/01/2001	-	Active	NO
2	U32106KA1989PTC010234	VASU COMTECH PRIVATE LIMITED	Director	31/08/2001	31/08/2001	-	Amalgamated	NO
3	U72200KA2002PTC030526	RANGSONS ELECTRONICS SOLUTIONS PRIVATE LIMITED	Managing director	21/05/2002	21/05/2002	-	Amalgamated	NO
4	U24244KA1982PTC004694	RIPPLE FRAGRANCES PRIVATE LIMITED	Director	27/01/2005	27/01/2005	-	Active	NO
5	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	14/07/2007	6/7/2007	-	Active	NO
6	U52312KA2008PTC046353	ARJATI TRADING PRIVATE LIMITED	Director	7/5/2008	7/5/2008	-	Active	NO
7	U15143KA1979PTC003541	NATURAL AND ESSENTIAL OILS PRIVATE LIMITED	Director	27/09/2010	16/11/2009	-	Active	NO
8	U15141KA2010PTC052578	NESSO - KDHP NATURAL EXTRACTS PRIVATE LIMITED	Director	16/08/2011	23/04/2010	-	Active	NO
9	U24249KA2004PTC033618	RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED	Additional director	1/4/2011	1/4/2011	-	Active	NO
10	U36912KA2011PTC058960	RANGSONS DEFENCE SOLUTIONS PRIVATE LIMITED	Director	3/6/2011	3/6/2011	-	Active	NO
11	U29100KA2011PTC060197	RANGSONS SCHUSTER TECHNOLOGIES PRIVATE LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Krsihnamurthy Venugopala Tenneti

Designation :

Director

Address :

No.79, Adarsh Vista, Basavanagar, Vibhuthipura, Marathahalli, Bangalore – 560 037, Karnataka, India

Date of Birth/Age :

29.06.1945

Date of Appointment :

08.02.2008

Din No.:

01338477

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U73100HR1999PTC037386	EMERGENT VENTURES INDIA PRIVATE LIMITED	Director	16/08/1999	16/08/1999	-	Active	NO
2	U72200MH1998PLC114664	CYGSOFT LIMITED	Director	4/5/2000	4/5/2000	5/1/2008	Active	NO
3	U72900KA2004PTC034656	BINATAR ELECTRONICS PRIVATE LIMITED	Director	9/9/2004	9/9/2004	-	Active	YES
4	U31909KA1993PTC014470	RANGSONS ELECTTRONICS PRIVATE LIMITED	Director	8/2/2008	2/11/2007	-	Active	NO
5	U73100KA1998PTC032501	INDEGENE LIFESYSTEMS PRIVATE LIMITED	Director	29/09/2008	22/07/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. G. J. Singh
Designation :	Vice President - Sourcing and SCM
Name :	Mr. R. C. Scuchitra
Designation :	Vice President – Operations
Name :	Mr. H. S. Ramesh
Designation :	Head - HRD

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2011

Names of Shareholders (Ordinary Shares)	No. of Shares
Pavan Ranga	561651
Arjun Murthy Ranga	300151
Anurudh Ranga	300151
Kiran V. Ranga	68349
Vishnu Ranga	68349
Ranga Rao Sridhar	68349
Total	1367000

As on : 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit Assembly.

Products:

Ø       OC-48 PO System

Ø       2048 Port Fault Tolerant PABX

Ø       Electronics for Quadro-pole Mass Spectrometer

Ø       Telco Switch for 128, 512 and 64K port

Ø       Slip Ring Power Recovery System

Ø       Printed Circuit Boards

Ø       Cable Assemblies

Ø       Electronic Assemblies and Components

Item Code No. (ITC Code)	90180000
Product Description	Printed Circuit Board Assemblies

PRODUCTION STATUS : 31.03.2010

Particulars	Units	Actual Production
Manufacturing Income	Nos.	1874385
Populated PCBs	Nos.	220442

GENERAL INFORMATION

No. of Employees :

429 (Approximately)

Bankers :

State Bank of Mysore, Mysore Main Branch, No. 7, Ashoka Road, Mysore – 570 001, Karnataka, India

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Fixed Loans from Scheduled Banks	67.672	61.359
Working Capital Loans from Scheduled Banks	254.273	248.297
Total	321.945	309.656

Unsecured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Loan from Directors	25.886	26.890
Loan from Relatives of Directors	4.868	4.868
Loan from Share Holders	12.763	11.759
Total	43.519	43.519

Banking Relations :	--
Auditors :
Name :	B.S. Ravikumar and Associates Chartered Accountants
Address :	73, 2^nd Floor, Sri Madhvesha Complex, Malai Mahadeshwara Road, Nazarbad, Mysore – 570 010, Karnataka, India
Pan No.:	AADFB1008N
Associates/Subsidiaries :	Ø N Ranga Rao and Sons Line of Business: Agarbatti manufacturers and exporters Ø Manmohak Creations Ø VCT Labs Ø Sri Ranga Trust Ø Ripple Perfumes Private Limited Ø Rangsons Marketing Services Private Limited Ø Natural Essential Oils Private Limited
Holding Company :	Rangsons Electronics Solutions Private Limited CIN No.: U72200KA2002PTC030526

CAPITAL STRUCTURE

As On : 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1700000	Ordinary Equity Shares	Rs.10/- each	Rs.17.000 millions
80000	Class Equity Shares	Rs.100/- each	Rs.8.000 millions
	Total		Rs.25.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
422000	Equity shares	Rs.10/- each	Rs.4.220 millions
78500	Class Equity Shares	Rs.100/- each	Rs.7.850 millions
	Total		Rs.12.070 millions

Notes :

12,07,000 [Previous Year 12,07,000] Equity Shares of Rs. 10 each [out of this 785000 Equity shares allotted as fully paid up under the Scheme of Amalgamation without payments being received in cash]

As On : 26.09.2011

Authorised Capital : Rs. 47.500 millions

Issued, Subscribed & Paid-up Capital : Rs. 13.670 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		12.070	12.070	12.070
2] Share Application Money		0.000	5.325	5.325
3] Reserves & Surplus		138.692	140.214	131.588
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		150.762	157.609	148.983
LOAN FUNDS
1] Secured Loans		321.945	309.656	227.733
2] Unsecured Loans		43.519	43.519	43.519
TOTAL BORROWING		365.464	353.175	271.252
DEFERRED TAX LIABILITIES		0.000	0.024	7.902
TOTAL		516.226	510.808	428.137
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		159.495	159.904	136.163
Capital work-in-progress		7.695	5.693	4.880
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		7.784	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	280.971	273.581	231.437
	Sundry Debtors	91.261	100.700	131.096
	Cash & Bank Balances	17.713	47.485	26.857
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	62.883	57.813	58.680
Total Current Assets		452.828	479.579	448.070
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	12.798	122.578	144.860
	Sundry Creditors	98.778	11.790	15.140
	Provisions	0.000	0.000	0.163
Total Current Liabilities		111.576	134.368	160.976
Net Current Assets		341.252	345.211	287.094
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		516.226	510.808	428.137

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	612.251	NA	695.694
		Other Income
		TOTAL	612.251	NA	695.694
Less	EXPENSES
		Office Expenses
		Administrative Expenses	596.199	NA	644.535
		Advertising Expenses
		TOTAL	596.199	NA	644.535
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		16.052	47.938	51.159
Less/ Add	DEPRECIATION/ AMORTISATION		30.717	25.567	19.885
	PROFIT BEFORE TAX		(14.655)	22.371	31.275
Less	TAX		7.818	13.764	8.936
	PROFIT AFTER TAX		(6.847)	8.607	22.339
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2.867	7.072	3.208
	TOTAL EARNINGS		2.867	7.072	3.208
	IMPORTS
		Raw Materials	339.870	458.782	392.817
		Stores and Spares	0.000	0.000	9.375
		Consumables	0.000	0.027	45.245
		Capital Goods	9.322	35.700	14.918
	TOTAL IMPORTS		349.192	494.509	462.355
	Earnings Per Share (Rs.)		(5.67)	7.15	22.32

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(1.11)	NA	3.21
Return on Total Assets (PBT/Total Assets}	(%)	(2.39)	3.49	5.35
Return on Investment (ROI) (PBT/Networth)		(0.09)	0.14	0.21
Debt Equity Ratio (Total Liability/Networth)		3.16	3.09	2.90
Current Ratio (Current Asset/Current Liability)		4.05	3.56	2.78

LOCAL AGENCY FURTHER INFORMATION

FOREWORD

The year 2009-10 has been an extremely challenging one for them, when the impact of global recession was finally on them as has been with other EMS vendors,. The extraordinary volatility in customer requirements, from a bullish expansionary outlook at the beginning of the year to precipitous bearish forecasts of future by its end, demanded of the company great vigilance in managing working capital, operating expenses and customer service levels.

While there has been a drop in the financial performance of the company, this difficult year yet offered us much valuable learning that should stand them in good stead as they once again embark on their journey of growth. The longer term outlook, the fundamentals on which the company’s strategy is based continues to be valid, if anything in starker clarity.

Some of the takeaways from this financial year have been: The need to build greater visibility and integration with customer order planning processes; greater flexible operational models; stronger vendor links and supply chain management models.

The year also gave them an opportunity to focus on broadening global customer base and (given its robust growth and evolving opportunities) look at India and domestic sales for business diversification. Accordingly they are glad to report that they are engaged in building their relationships with a couple of new global customers and have made initial forays in to the aerospace and defence segments in India. They hope to see these initiatives fructify in the coming years.

The company is being re-organized keeping all of the above in view, operating systems are being reviewed, necessary certifications being obtained and production facilities restructured. They are also focusing on building closer collaborations with their vendors. Most of these are in their maturation phase and they should see their effects in the coming financial years.

OPERATIONS:

The company has recorded a turnover of Rs. 660.000 millions for this financial year as against Rs. 836.600 millions during the previous year. They are glad to report that the impact of recession has been better managed compared to its effects on some of their customers. The turnaround in the volumes during the second half of the year has been encouraging.

PERFORMANCE OF THE COMPANY

Revenue:

During 2009-10, the company has achieved a turnover of Rs. 660.040 Million different segments. The Defense Sector has contributed 10% to total turnover during the first year of its introduction.

Company has generated its revenue under both Domestic and Export sales. Export sales continued to be over 50% of the total turnover.

FORM : 8

Corporate identity number of the company	U31909KA1993PTC014470
Name of the company	RANGSONS ELECTRONICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	347, D 1 and 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570 016, Karnataka, India
This form is for	Modification of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	State Bank of Mysore, Mysore Main Branch, Ashoka Road, Mysore - 570001, Karnataka
Nature of instrument creating charge	1. FORM C-2 A: Supplemental Agreement of hypothecation of goods and assets for increase in the overall limit 2. Form C.1-A : Supplemental Agreement of loan for increase in overall limit.
Date of instrument Creating the charge	18/07/2011
Amount secured by the charge	Rs. 590.200 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest CC: 2.75% above Base rate, presently12.25% PC: As per extant instructions IBD/IUBD: For initial 30 days-2.25% above Base Rate, presently 11.75%. Beyond 30 to 90 days- rate applicable to CC TL : No Reset Terms of repayment Cash Credit: Repayable on demand or renewable on merits on due date. No change in terms of repayment for Term Loans TL1, TLII, TL III, TL IV and TL V, Packing Credit, IBD/IUBD and LC as per the terms stipulated in sanction letter, supplemental agreement of hypothecation and supplementary agreement of loan dated 18.07.2011. Margin Raw Materials both domestic and imported - 20% SIP - 20% Finished Goods / Receivables - 20%(Cover period - 90 days for receivables) Bank Guarantees - 20% (Except disputed guarantees which will be covered by 100% margin) Letters of Credit - 10% Extent and operation of the charge The Charge is to operate as security, by way of first exclusive charge, for the due repayment of the credit facility of Rs. 590.200 millions together with interest, additional interests, costs, charges, expenses and all other moneys payable by the Company to the Bank in terms of sanction. Other Other terms as stipulated in sanction letter, supplemental agreement of hypothecation and suppl agreement of loan dated 18.07.2011.
Short particulars of the property charged (Including location of the property)	Cash Credit: Hypothecation charge over Stocks and Receivables. Packing Credit: To be released against firm orders / LCs. IBD/IUBD/FDBP/FUBD: Assignment of documentary bills/clean bills accompanied by acknowledgement from the buyers for having taken delivery of the goods. Letter of Credit: Charge on goods covered under LC and charge on current assets of the company. Bank Guarantee : Counter guarantee of the company and charge on currents assets of the company Collateral for all limits: Hypothecation charge on plant and machinery and other equipments/assets Rs.167.200 millions (WDV as on 31.03.2010) Charge on other assets already registered for existing limits sanctioned to continue
Date of instrument modifying the charge	01/10/2010
Particulars of the present modification	Renewal of facilities/ limits from original limit of Rs.543.300 millions to Rs.590.200 millions as under: Facility Limits (Rs. in millions) Existing Revised -------------------------------------------------- Cash Credit 275.000 325.000 Letter of Credit 100.000 120.000 BG 20.000 20.000 Term Loan 118.300 102.700 Short Term Loan 30.000 22.500 TOTAL 543.300 590.200

FIXED ASSETS:

- Land

- Building

- Plant and Machinery

- Furniture and Fixtures

- Electrical Installation

- Software

- Office Equipments

- Computers and Software

- Tools and Equipments

- Generator

- Borewell

- Vehicles

It is in trade terms with:

Ø Multicore, Malaysia

Ø Nippon Electronics, Japan

Ø Advance Technology, USA

Ø Samsung, Korea

Ø Quantum, UK

Ø Memec Components, Hong Kong

Ø Epotech Electric Corporation, Taiwan

Ø Wintech Corporation, Japan

Ø Kobaden Electronics, Japan

Ø Future Electronics Distribution Pte. Limited, Singapore

Ø Wipro Ge Medical Systems Limited, Bangalore, Karnataka, India

Ø Larsen and Toubro Limited, Mysore, Karnataka, India

Ø Wipro Peripherals / Wipro Limited, Mysore, Karnataka, India

Ø Bharat Heavy Electricals Limited, Bangalore, Karnataka, India

Ø Asea Brown Boveri Limited, Bangalore, Karnataka, India

Ø Indian Telephone Industries Limited (ITI), Bangalore, Karnataka, India

Ø Tata Electronic Development Services, Bangalore, Karnataka, India

Ø BPL Group, Palakkad

Ø BPL Group, Bangalore, Karnataka, India

Ø HCL Information Systems Limited, Bangalore, Karnataka, India

Ø Crompton Greaves, Bangalore Karnataka, India

Ø Enercon Systems Private Limited, Bangalore Karnataka, India

Ø Electronic Corporation of India Limited, Hyderabad, Andhra Pradesh, India

Ø HCL Peripherals Limited, Chennai, Tamilnadu, India

Ø HCL Peripherals Limited, Pondicherry, Tamilnadu, India

Ø Kirloskar Electric Company Limited, Mysore, Karnataka, India

Ø Emerson Network Power India Private Limited

Ø Tata Honeywell Limited

Ø Aspire Communications Private Limited

Ø Chaya Graphics Private Limited

Ø Electro Magnetic Devices

WEBSITE DETAILS:

BACKGROUND:

Rangsons Electronics, one of the leading Indian EMS companies, was established in 1993. Headquartered in Mysore, Rangsons Electronics operates World Class production facilities to support the ever growing requirements for Electronics Manufacturing Services (EMS) from customers worldwide.

Rangsons Electronics is one of the fastest growing EMS companies with an established track record of serving customers in India, North America, Europe, Japan and China. Through a dynamic team of professionals with a relentless focus on Quality and delivery, Rangsons Electronics is aiming to be the market leader in High-Mix, High-Tech Electronic Manufacturing Services.

Rangsons Electronics is a part of NR Group which was established in 1948 and is today one of the leading Business Houses in South India. Apart from electronics, the multi-faceted activity of the Group includes incense sticks, essential oils, perfumery and bio-chemicals. 

History

They started offering PCB assembly services on job-work basis in 1993. They made rapid progress and in a very short time, they were the qualified and approved vendors for major customers in Industrial segments. In 1994, they achieved a major milestone by offering PCB Assembly on turnkey basis to its leading customer. They grew to become one of the pioneers in Electronic Manufacturing through relentless hard work and dedication to quality service.

By 2000, they had established their selves as a strong player in PCB Assembly. It was at this stage that Mr. Pavan Ranga took over the leadership at Rangsons Electronics. Then they grew rapidly by entering new verticals such as Medical and developed strong relationships with global players.

In 2001, they were actively involved in forming ems-ALLIANCE, a Global Alliance of EMS gaints from various countries to help Rangsons establish Global presence.

With a vision to offer Total Electronics Manufacturing Solutions to its customers, they added new services to their portfolio such as Design Validation, New Product Integration (NPI) and Product Integration. In 2004, an exclusive plant was established to offer Box Build services to their major customers. By 2005, they were established as a provider of Integrated Solutions by adding Cable Harness and Design / Re-engineering services.

Over the years, they have invested in developing capabilities and competencies to address customer requirements for Industrial, Medical, Telecom, Automotive and Aerospace segments. Today, they are recognised globally as a leading player of Electronics Manufacturing Services with a goal to provide complete Product life-cycle management services.

At present they operate world-class production facilities to support the ever growing requirement of Electronics Manufacturing Services (EMS) to Global leaders such as GE, ABB, Honeywell, Bosch, Larsen and Turbo, Wipro, Pricol, Telsima, Bharat Electronics, etc.

EXECUTIVE TEAM:

PAVAN G RANGA (CEO)

Pavan G Ranga joined Rangsons in March 2001. He has been instrumental in giving the current vision and direction to the company, and has transformed the company to a globally focused EMS provider.

He is a firm believer in teamwork and has strong analytical skills for setting up businesses and organizational structures to create a successful and profitable business.

Pavan is an Engineering Graduate from Sri Jayachamarajendra College of Engineering, Mysore where he completed his Bachelor's degree in computer science Engineering and MBA in Finance.

SURYANARAYANA T HEBBAR (President)

Suryanarayana Hebbar (Sury) joined Rangsons in 2007. He is currently responsible for the Business Unit and setting short and long terms goals to drive the organic growth of the company. After his graduation in Chemical Engineering from the Mangalore University, he completed his Master of Science in Plastics Engineering and Design from the University of Massachusetts in the US in 1994.

He has a rich experience in the Manufacturing industry and has previously worked for global automotive giants such as General Motors and Ford in the US and UK and for Tata Motors and TVS in India.

R. C. SUCHITRA  (Vice President – Engineering and QMS)

Suchitra joined Rangsons in 1993 and has vast experience of nearly two decades in the field of Electronic Manufacturing and Quality. With a Bachelors Degree in Engineering from Mangalore University, she heads the Engineering and QMS Functions. Suchitra is responsible for company's Quality Management Systems and Certification programs. She is currently the Management Representative for ISO 9001 and a qualified Lead Assessor.

K.N. PHANISHA  (Vice President - Finance)

Phanisha joined Rangsons in 1995 and is heading the Finance team. In his current capacity he manages Corporate Accounts and Finance, Budgeting, Taxation, Financial Analysis. He also handles reporting to Top Management, Audit, Legal and Secretarial matters. Prior to Rangsons Electronics he has been associated with various companies and has also worked independently for reputed CA firms. He is a Commerce graduate from the University of Mysore and TUV certified ISO 9001 Internal Quality Auditor.

Pradeep Bhatnagar (Vice President - Operations)

Pradeep has joined Rangsons in 2009, as Vice President - Operations. He comes with a vast experience of 26 years in various segments of Electronics’ Manufacturing and Exports. He has worked in Semiconductors, Industrial Automation, Consumer Electronics, Optoelectronics, Medical Electronics, PV Solar Cells and now working in EMS Sector.

Pradeep Starting his career as an Engineer, he worked at different levels in different functions such as Production, Maintenance, Rand D, Engineering, Manufacturing, Operations, and Customer Relations and Management. His areas of expertise are Automation Maintenance, TPM Implementation, Cost control by Efficiency Improvements, Overall Operations’ Management etc.

N. S. RAVISHANKAR (Vice President - Sourcing)

Ravishankar has around fourteen years of professional experience in the areas of Engineering and Project Management. He has done his Bachelors Degree in Mechanical Engineering and also an M.Tech holder. He is associated with Rangsons Electronics since 12 years and is currently heading the Sourcing function.

NEWS:

Rangsons' participation at Electronica 2009, a grand success

September 2009: electronica India 2009 is India’s and South-Asia’s leading fair for electronic components, assemblies and materials. This annual event was held between 8-11 September, 2009 at Bangalore International Exhibition Centre, Tumkur Road, Bangalore.

The event showcased around 825 direct exhibitors and represented companies from 25 countries and attracted more than 15,000 visitors.

Rangsons Electronics participated as a key exhibitor and showcased its products and services. Mr. Pavan Ranga, CEO was a panel member along with other industry leaders, in the discussion on EMS Business Opportunity:

Indian Perspective, held on day - 1, session - 2 of the conference.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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. 51.74
UK Pound	1	Rs. 80.00
Euro	1	Rs. 65.99

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	3
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.