|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
AKSH TECHNOLOGIES LIMITED |
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Registered
Office : |
F-1080, RIICO Industrial Area, Phase-III, Bhiwadi – 301019, Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.03.2008 |
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Com. Reg. No.: |
026133 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.500 Millions |
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CIN No.: [Company Identification
No.] |
U24305RJ2008PLC026133 |
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Legal Form : |
Closely Held Public Limited Liability Company. |
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Line of Business
: |
Manufacturer, Exporter and Supplier
of Optical Fibre Cables, Optical Fibre and FRP Rods |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1117208 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has incurred some losses during the year. However trade relations are reported
as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business with some cautions. |
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 |
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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
|
Registered Office/Plant 1 : |
F-1080, RIICO Industrial Area, Phase-III, Bhiwadi – 301019, Rajasthan,
India |
|
Tel. No.: |
91-1493-221333/220763/220388/220718 |
|
Fax No.: |
91-1493-221329 |
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E-Mail : |
sumit@akshoptifibre.com |
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Website : |
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Plant 2 : |
A-315-B, RIICO Industrial Area, Phase-I, Bhiwadi – 301019,
Rajasthan, India. |
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Tel. No.: |
91-1493-221955/223536 |
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Fax No.: |
91-1493-221955/223536 |
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Plant 3 : |
A, 58,59 Shri Khatu Shyam Ji Industrial Complex, Ringus District Sikar – 352404,
Rajasthan, India |
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Fax No.: |
91-1575-224150 |
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Corporate Office : |
J-1/1, B -1 Extension, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi- 110044, India |
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Tel. No.: |
91-11-26991508/09 |
|
Fax No.: |
91-11-26991510 |
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E-Mail : |
DIRECTORS
AS ON 15.07.2011
|
Name : |
Mr. Bachh Raj Rakhecha |
|
Designation : |
Director |
|
Address : |
C4/53 Rajasthali Appartments, Madhuban Chowk, New Delhi – 110034,
India |
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Date of Birth/Age : |
02.08.1941 |
|
Date of Appointment : |
13.03.2008 |
Other Directorship:
|
|
Name : |
Mr. Popatlal F. Sundesha |
|
Designation : |
Director |
|
Address : |
221/222 Creativelindl Estate, Lower parel, Mumbai – 220013,
Maharashtra, India |
|
Date of Birth/Age : |
15.02.1945 |
|
Date of Appointment : |
12.08.2009 |
Other Directorship:
|
|
Name : |
Mr. kailash S. Choudhari |
|
Designation : |
Director |
|
Address : |
A 12 First Floor, Geetanjali Enclave, New Delhi – 110017, India |
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Date of Birth/Age : |
23.08.1959 |
|
Date of Appointment : |
09.12.2009 |
Other Directorship:
|
|
Name : |
Mr. Narendra Kumbhat |
|
Designation : |
Director |
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Address : |
14/5 East patel Nagar, New Delhi – 110008, India |
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Date of Birth/Age : |
23.12.1943 |
|
Date of Appointment : |
22.10.2010 |
Other Directorship:
|
|
Name : |
Mr. Chandra Shekhar Gupta |
|
Designation : |
Whole time director |
|
Address : |
M 822 Ashiana Aangan, Bhiwadi – 301019, Rajasthan, India |
|
Date of Birth/Age : |
01.07.1970 |
|
Date of Appointment : |
21.03.2011 |
|
|
|
|
Name : |
Mr. Munesh Chandra |
|
Designation : |
Whole time director |
|
Address : |
CG 1 Satlaj Appartments Sector 2, Vidyadhar Nagar, jaipur – 302023,
Rajasthan, India |
|
Date of Birth/Age : |
01.01.1966 |
|
Date of Appointment : |
21.03.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Singh |
|
Designation : |
Company Secretary |
|
Address : |
Prakash Bhawan 499/243 Jsgn Mishra Park Road, hasanganj (Daliganj)
Lucknow – 226020, Uttar Pradesh, India |
|
Date of Birth/Age : |
26.04.1975 |
|
Date of Appointment : |
01.04.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Aksh Optifibre Limited |
|
10099946 |
|
Sailesh S Choudhari (Nominee Of Aksh Optiifbre
Limited) |
|
9 |
|
Bachh Raj Rakhecha (Nominee Of Aksh Optifibre
Limited) |
|
9 |
|
Chetan Choudhari (Nominee Of Aksh Optifibre
Limited) |
|
9 |
|
Satyendra Gupta (Nominee Of Aksh Optifibre
Limited) |
|
9 |
|
Gaurav Mehta (Nominee Of Aksh Optifibre Limited) |
|
9 |
|
Sumit Singh (Nomiee Of Aksh Optifibre Limited) |
|
9 |
|
Total |
|
10100000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier
of Optical Fibre Cables, Optical Fibre and FRP Rods |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Union Bank of India, Industrial Finance Branch,
M-11, First Floor Middle Circle Connaught Circus, New Delhi – 110001, India |
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Facilities : |
Note - Working Capital facilities from Banks are
secured by way of first pari-passu charge on Current Assets both present and
future and second pari-pasu charge on the fixed assets of the company. These
facilities are further secured by way of first pari-pasu charge on the
immovable properties of the Aksh Optifibre Limited and personal gurantee of
Dr. Kailash S. Choudhari and Corporate Guarantee of Aksh Optifibre Limited.
b) Non fund based limits are further secured by first pari pasu charge on
fixed assets of the Company.
Note (A) * Optionally Convertible Debentures issued to Aksh Optifibre
Limited pursuant to the transfer of business without payment being received
in cash. (B) # Repayable on Demand. |
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Banking Relations
: |
-- |
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|
|
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Auditors : |
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|
Name : |
P. C. Bindal and Co Chartered Accountant |
|
Address : |
101, Sitaram Mansion, 718/21, Josji Road, Karol Bagh, New Delhi –
110005, India |
|
|
|
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Holding Company : |
Aksh Optifibre Limited, India |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,01,00,000 |
Equity Shares |
Rs.5/- each |
Rs. 50.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,01,00,000 |
Equity Shares |
Rs.5/- each |
Rs. 50.500 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 |
50.500 |
50.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
250.000 |
256.544 |
0.000 |
|
|
4] (Accumulated Losses) |
(21.198) |
0.000 |
(0.668) |
|
|
NETWORTH |
279.302 |
307.044 |
(0.168) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
159.239 |
149.037 |
0.000 |
|
|
2] Unsecured Loans |
137.537 |
140.798 |
0.000 |
|
|
TOTAL BORROWING |
296.776 |
289.835 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
576.078 |
596.879 |
(0.168) |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
389.499 |
437.434 |
0.000 |
|
|
Capital work-in-progress |
0.173 |
4.582 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.112 |
0.132 |
0.000 |
|
|
DEFERREX TAX ASSETS |
10.991 |
(1.056) |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
152.378
|
146.467 |
0.000 |
|
|
Sundry Debtors |
185.424
|
116.000 |
0.000 |
|
|
Cash & Bank Balances |
42.335
|
43.494 |
0.212 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
89.788
|
86.659 |
0.000 |
|
Total
Current Assets |
469.925
|
392.620 |
0.212 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
284.848
|
228.647 |
0.380 |
|
|
Provisions |
9.774
|
8.186 |
0.000 |
|
Total
Current Liabilities |
294.622
|
236.833 |
0.380 |
|
|
Net Current Assets |
175.303
|
155.787 |
(0.168) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
576.078 |
596.879 |
(0.168) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
956.753 |
1269.204 |
0.000 |
|
|
|
Other Income |
18.490 |
30.747 |
0.000 |
|
|
|
TOTAL (A) |
975.243 |
1299.951 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Costs |
62.081 |
68.110 |
0.000 |
|
|
|
Employee Related Expenses |
71.579 |
62.984 |
0.000 |
|
|
|
Administrative Selling Other Expenses |
100.183 |
90.326 |
0.634 |
|
|
|
Consumption Material Changes Inventories |
703.743 |
986.595 |
0.000 |
|
|
|
Miscellaneous Expenditure Written Off |
0.000 |
0.000 |
0.034 |
|
|
|
TOTAL (B) |
937.586 |
1208.015 |
0.668 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37.657 |
91.936 |
(0.668) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
24.136 |
29.907 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.521 |
62.029 |
(0.668) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.311 |
53.706 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(39.790) |
8.323 |
(0.668) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(12.047) |
1.111 |
--- |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(27.743) |
7.212 |
(0.668) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
515.438 |
592.654 |
NA |
|
|
TOTAL EARNINGS |
515.438 |
592.654 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
478.080 |
NA |
|
|
|
Consumable |
NA |
10.237 |
NA |
|
|
|
Capital Goods |
NA |
1.853 |
NA |
|
|
TOTAL IMPORTS |
NA |
490.170 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.84)
|
0.55 |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.15)
|
0.65 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.62)
|
1.00 |
(315.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14)
|
0.02 |
3.97 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.11
|
2.22 |
(2.26) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.65 |
0.55 |
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 |
No |
|
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 |
Yes |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
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
|
|
Corporate identity number of the company |
U24305RJ2008PLC026133 |
|
Name of the company |
AKSH
TECHNOLOGIES LIMITED |
|
Address of the registered office or of the
principal place of business in |
F-1080, RIICO
Industrial Area, Phase-III, Bhiwadi – 301019, Rajasthan |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
Union Bank of India,
Industrial Finance Branch, M-11, First Floor Middle Circle Connaught Circus,
New Delhi – 110001, India Email -
sanjuprofessional@gmail.com |
|
Nature of instrument creating charge |
Joint deed of Hypothecation Working Capital Consortium Agreement Inter-se agreement |
|
Date of instrument Creating the charge |
24.12.2009 |
|
Amount secured by the charge |
Rs. 605.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest as decided by the consortium members from
time to time Terms of Repayment On demand Margin As per sanction or as decided by the consortium members from
time to time Extent and Operation of the charge Pari-passu charge Others Nil |
|
Short particulars of the property charged |
Hypothecation of stocks of RM , WIP and
finished goods in trade ,stores , spares, packing materials ,receivables and
other current assets on pari-passu basis with other working lenders in the
... Consortium both present & future . Second pari-passu charge on all the fixed
assets of the company both present & future to secure the Fund based
working capital facilities sanctioned by the ......... Consortium members . First pari-passu charge on all the fixed
assets of the company both present & future to secure the Non Fund based
working capital facilities sanctioned by the Consortium members . The details of individual bank wise limits
sanctioned by the consortium members |
As Per Website
COMPANY OVERVIEW
Subject is a India's leading optical fiber Cable Supplier . They are one of the most trusted & respected names in Optical fibre cable suppliers & Fibre Manufacturing chain. Established in 1986, their Fibre manufacturing operations are spread across three ISO & UL certified plants. Made according to stringent quality standards and using state of the art technology Aksh is the world's only integrated Optical Fibre exporter, Optical Fibre Cables Supplier and Fibre Reinforced Plastic (FRP) Rods producer.
Subject company is 100% subsidiary of Aksh Optifibre Ltd. The company has transferred its Fibre manufacturing operations comprising of Fibre manufacturing and sale of optical Fibre, Optical Fibre Cable and FRP rods to subject company.
With substantial Indian market share, AKSH is India's leading player in Fibre Optic Industry and boasts of a strong customer base comprising state owned companies in India along with fibre exporters to a host of diversified destinations in U.S.A, Europe Africa, Middle East, South America & South Asia.
An ISO 9002 Company Certified by underwriters laboratories, USA. Subject company is the world's only integrated producer of Optical Fibre, Optical Fibre Cable and FRP Rod. With world class infrastructure and committed human resource it boasts of an annual capacity 1.5 million km of Fibre, 1,50,000 km of Cables & 7,00,000 km of FRP Rods and it is one of the major fibre exporters.
With the changing needs of the customer and ever-growing volumes, Aksh has also upheld concepts of value engineering and product enhancement. Their Design and Development Department is well equipped with capabilities like In-House Industrial & Engineering Design, Optical & Mechanical testing equipments and Environmental test laboratory for conducting reliability and life tests. They have carved a niche in the segment by constantly creating innovative solutions with many patents. Recently Aksh has developed cost effective solutions for introducing Fibre- to - Home (FTTH).
VARIOUS
MILESTONES IN THEIR JOURNEY ARE
1986 : Incorporated as a Private Limited Company.
1994 : Converted into a Public Limited
Company.
1994 : Diversified
into the manufacture of Optic
Fibre Cables (OFC) by setting up a plant at Bhiwadi (Plant-I). Annual capacity – 6500 Cable
Kilometers (CKM).
1995 : Integrated
backwards into manufacture of Optical Fibre with Annual capacity of 150,000 Fibre Kilometres (FKM).
1998 : ISO 9002 accreditation by United Laboratories (UL), USA.
1999 : OFC manufacturing capacity increases
to 33,000 CKM
1999 : Took over the Optical Fibre Cable
plant of CMI Ltd., Plant-II, Capacity increased to 50,000 CKM.
2000 : Came with
an IPO and got listed on BSE, NSE and JSE.
2000 : Merged Telecords (India) Private Limited
manufacture of FRP rods with Plant at JaitPura (Plant-IV).
2001 : Enhanced the production capacity of
Fibre to 1.45 million FKM, by commissioning a dual Fibre Drawing Tower
2001 : Started a plant for Fibre Reinforced Plastic (FRP) rods at
Ringus (Plant-III) with capacity of 0.3 million KM.
2002 : Increased capacity at Ringus plant to
0.8 million KMs
2003 : Added capability to manufacture Ribbon
cable and special access cable FTTH
2006 : AKSH - MTNL
tie-up for IPTV (icontrol).
2007 : AKSH
launched VOIP (Pigeon) in partnership with MTNL.
2008 : AKSH
- MTNL launched Video Calling in Delhi & Mumbai.
2008 : Became member of FTTH council.
2009 : Successful renewal of ISO 9001:2008 by
Underwriters Laboratories Inc. (UL).
2010: ISO 14001:2004 certified by URS.
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.55.79 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.