MIRA
INFORM REPORT
|
Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
A.S.M. CIRCUITS PRIVATE LIMITED |
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Registered Office
: |
444, Sector - 37, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.11.2003 |
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Com. Reg. No.: |
05-035243 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.000
Million |
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CIN No.: [Company Identification
No.] |
U31909HR2003PTC035243 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of wide range of LED Lighting Product,
Flexible Circuit, Membrane Switch, Led Tube Lights etc. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5000 |
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|
Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are
limited. Profitability of the company appears to be low. However, trade relations
are fair. Business is active. Payments are reported to be slow. The company can be considered for small to mediocre business dealings
with some caution. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
INFORMATION PARTED BY (General Details)
|
Name : |
Ms. Pooja Gupta |
|
Designation : |
Chief Executive Officer |
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Contact No.: |
91-129-4128335 |
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Date : |
16.01.2012 |
LOCATIONS
|
Registered Office/ Factory : |
444, Sector - 37, |
|
Tel. No.: |
91-129-4128336 / 335 |
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Mobile No.: |
91-9910895784 / 9312625335 (Mr. Mohit K.
Gupta) |
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Fax No.: |
91-129-2274587 / 4128336 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sushil Kumar Gupta |
|
Designation : |
Director |
|
Address : |
House No.444, Sector-37, |
|
Date of Birth/Age : |
19.10.1948 |
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Date of Appointment : |
13.11.2003 |
|
DIN No.: |
00814432 |
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|
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|
Name : |
Mr. Mohit Kumar Gupta |
|
Designation : |
Director |
|
Address : |
House No.444, Sector-37, |
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Date of Birth/Age : |
30.10.1975 |
|
Date of Appointment : |
13.11.2003 |
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DIN No.: |
01201978 |
KEY EXECUTIVES
|
Name : |
Ms. Pooja Gupta |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mohit Kumar Gupta |
|
50000 |
|
Sushil Kumar Gupta |
|
50000 |
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Total
|
|
100000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of wide range of LED Lighting Product,
Flexible Circuit, Membrane Switch, Led Tube Lights etc. |
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Products : |
v
Membrane Switches v
Membrane Keyboard v
Adhesive Overlays / Stickers / Labels v
MCPCB's v
Membrane Keypad
v
Flexible PCBs
v
Metal Core Printed Circuit Board |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
v
European
Countries v
US v
UAE |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Production |
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Membranes |
Pcs. |
40941 |
|
Stickers |
Pcs. |
99606 |
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GENERAL INFORMATION
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Customers : |
Retailers, End Users and OEM’s |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
v
Rajasthan Financial Corporation, Udyog Bhawan, Tilak Marg, Jaipur,
Alwar – 302 005, v
Tata Finance Limited |
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Auditors : |
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|
Name : |
Anil and Associates Chartered Accountants |
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Address : |
234, Sector-28, |
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Tel. No.: |
91-129-2271218 |
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Mobile No.: |
91-9650106663 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AASPV2843A |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
Million |
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|
|
|
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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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.195 |
0.139 |
0.070 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.195 |
1.139 |
1.070 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.415 |
0.620 |
0.480 |
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2] Unsecured Loans |
0.570 |
0.507 |
0.516 |
|
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TOTAL BORROWING |
1.985 |
1.127 |
0.996 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
3.180 |
2.266 |
2.066 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.502 |
2.128 |
1.897 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.030 |
0.022 |
0.014 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.607
|
0.285
|
0.273
|
|
|
Sundry Debtors |
1.447
|
1.327
|
1.497
|
|
|
Cash & Bank Balances |
0.412
|
0.388
|
0.366
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
0.013
|
0.089
|
0.069
|
|
Total
Current Assets |
2.479
|
2.089
|
2.205
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.596
|
1.351
|
1.411
|
|
|
Other Current Liabilities |
0.196
|
0.581
|
0.634 |
|
|
Provisions |
0.039
|
0.041
|
0.029
|
|
Total
Current Liabilities |
1.831
|
1.973
|
2.074
|
|
|
Net Current Assets |
0.648
|
0.116
|
0.131
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.024 |
|
|
|
|
|
|
|
|
TOTAL |
3.180 |
2.266 |
2.066 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6.647 |
6.279 |
6.935 |
|
|
|
Other Income |
0.005 |
0.007 |
0.003 |
|
|
|
Closing Stock |
0.607 |
0.285 |
0.272 |
|
|
|
TOTAL (A) |
7.259 |
6.571 |
7.210 |
|
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|
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|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Opening Stock |
0.285 |
0.273 |
0.345 |
|
|
|
Raw Materials |
4.101 |
3.632 |
4.191 |
|
|
|
Manufacturing Expenses |
0.171 |
0.254 |
0.294 |
|
|
|
Wages & Employees Benefit |
1.177 |
1.168 |
1.185 |
|
|
|
Administrative & Other Expenses |
0.946 |
0.783 |
0.825 |
|
|
|
TOTAL (B) |
6.680 |
6.110 |
6.840 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.579 |
0.461 |
0.370 |
|
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|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.180 |
0.083 |
0.072 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.399 |
0.378 |
0.298 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.313 |
0.272 |
0.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.086 |
0.106 |
0.102 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.030 |
0.037 |
0.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.056 |
0.069 |
0.073 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.139 |
0.070 |
(0.003) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.195 |
0.139 |
0.070 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.56 |
0.69 |
0.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.77 |
1.05
|
1.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.29 |
1.69
|
1.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73 |
2.51
|
2.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.09
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.19 |
2.72
|
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.06
|
1.06 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
-- |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
No |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
No |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
No |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major Shareholders,
if available |
-- |
FORM 8:
|
Corporate
identity number of the company |
U31909HR2003PTC035243 |
|
Name of the
company |
A.S.M. CIRCUITS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
444, Sector - 37, E-Mail: efiling.2007@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Rajasthan Financial Corporation, Udyog Bhawan, Tilak Marg, Jaipur, Alwar – 302 005, 444, Sector - 37, E-Mail: info@rfconline.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement of
Loan |
|
Date of
instrument Creating the charge |
26.03.2010 |
|
Amount secured by
the charge |
Rs.1.000 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest 14 %
p.a. chargeable on quarterly basis and interest shall be reset after 3 years. Terms of
Repayment: The total
repayment period shall be 5 years including the moratorium not exceeding 6
months. Margin: The Loan shall be
secured by way of first charge after creation of equitable mortgage on land,
Building and Plant and Machinery and MFA situated at H-1392, RIICO Industrial
Area, Bhiwadi. Extent and
Operation of the charge: The Charge will
operate as first charge. |
|
Short particulars
of the property charged |
1. The
Corporation Will have a negative charge on machinery stores and machinery spares.
Hypothecation of raw material, stock in trade and finished and unfinished
goods. 2. Equitable
Mortgage by deposit of title documents of the land, building and
hypothecation of plant and machinery situated at H1-1392, IA. Bhiwadi, District Alwar |
FIXED ASSETS:
·
·
·
Electric Installation
·
Office Equipments
·
Plant and Machinery
·
Furniture and Fixture
·
Air Conditioner
·
Computer and Printer
·
Motor Car-Cheverolet
·
Motor Car Indigo
·
Mobile Phone
·
Fire Extinguishers
·
Tools and Fixture
WEBSITE DETAILS;
COMPANY PROFILE:
Subject is a premium manufacturer and supplier of Lighting Systems, Membrane Switches, Adhesive Overlays, EL Display Board, Keyboards, Keypads, Luminaries, Circuits, Overlays, EL lamps, Signage and other allied products. Being a professionally managed organisation with manufacturing units in Bhiwadi, they provide products in wide range/categories like membrane switches, membrane keypads, membrane keyboards, modular switches, luminaries / displays, tube lights LED lighting, MCPCB's / flexible circuits overlay.
By constantly providing superior quality, highly durable and functional range
of electronic products, Subject has grown out to be among the fastest-growing
companies for electronic products and effectively serving railways, power
plants, pubs, streets, hotels and various other areas. With the
state-of-the-art infrastructure and the ability to customize, they manufacture
products to meets the clients’ needs and specifications in terms of quality,
quantity, and designs.
INFRASTRUCTURE:
Their journey so far has been the results of the enviable
infrastructure which powers and drives them to manufacture a wide range of
electric products for clients. With an in-house manufacturing unit at Bhiwadi, their products are duly manufactured to meet all
the Customer specifications. Subject fittingly utilizes the highly developed
CAD /
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.51.65 |
|
|
1 |
Rs.79.10 |
|
Euro |
1 |
Rs.65.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.