|
Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MICROQUAL TECHNO LIMITED (w.e.f. 24.09.2010) |
|
|
|
|
Formerly Known
As : |
MICROQUAL TECHNO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road,
Andheri (West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.08.1999 |
|
|
|
|
Com. Reg. No.: |
11-121164 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 425.187 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32200MH1999PTC121164 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM13047G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
The Company is
primarily engaged in manufacturing, trading and services related to
telecommunication components and products and providing integration services. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Suresh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-23443570 |
LOCATIONS
|
Registered Office/ Factory: |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road,
Andheri (West), Mumbai - 400 053, Maharashtra, India |
|
Tel. No.: |
91-22-66989381 / 23443570 |
|
Fax No.: |
91-22-26360909 / 23444025/ 26366699 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
3rd Floor, Techweb Center, Ohsiwara Behrambaug,
Off New Link Road, Jogeshwari (West), Mumbai-400102, Maharashtra, India |
|
Tel. No.: |
91-22-4041515 |
|
Fax No.: |
9-22-40741590 |
|
|
|
|
Factory 2: |
Plot No.3-4, Sector 6 IIF Pant Nagar, Rudrapur – 263153,
District U S Nagar, |
|
Locations : |
Leased |
|
|
|
|
Factory 3: |
No.100, Village Farola, |
|
Locations : |
Rented |
|
|
|
|
Factory 4: |
Located at |
|
|
|
|
Branch Office: |
Plot No. 845, 846, Udyog Vihar, Phase V, Gurgaon, |
|
|
|
|
Sales/ Branches Office : |
Located at : Ø
Ø
Chennai Ø
Ø
Kolkata Ø
Ø
Ø
Ø
Ø
Mohali |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Mahesh Balkishan Choudhary |
|
Designation : |
Director |
|
Address : |
301, Jeevan Anand, SAB TV Lane, New Link Road, Andheri (West), Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
11.03.1979 |
|
Date of Appointment : |
05.08.1999 |
|
DIN No.: |
01644880 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Company Status |
Defaulting
status |
|
1 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Whole-time
director |
16-11-10 |
05-08-99 |
Active |
NO |
|
2 |
U72200MH2008PTC187078 |
MICROQUAL
COVERAGE SOLUTIONS PRIVATE LIMITED |
Director |
25-09-08 |
25-09-08 |
Active |
NO |
|
3 |
U32106MH2010PTC198416 |
MICROQUAL
GLOBAL SERVICES PRIVATE LIMITED |
Director |
04-01-10 |
04-01-10 |
Active |
NO |
|
4 |
U32205MH2010PTC205712 |
ROCS GLOBAL
PRIVATE LIMITED |
Director |
20-07-10 |
20-07-10 |
Active |
NO |
|
Name : |
Mr. Sushilkumar Choudhary |
|
Designation : |
Director |
|
Address : |
302, Jeevan Anand, SAB TV Lane, New Link Road, Andheri (West), Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
26.09.1968 |
|
Date of Appointment : |
13.06.2007 |
|
DIN No.: |
01436325 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Company Status |
Defaulting
status |
|
1 |
U51496MH1995PTC087111 |
PREM DYECHEM
INDUSTRIES PRIVATE LIMITED |
Director |
03-04-95 |
03-04-95 |
Active |
NO |
|
2 |
U30007KA2007PTC042923 |
CARINOV
NETWORKS PRIVATE LIMITED |
Director |
25-05-07 |
25-05-07 |
Under Process
of Striking off |
NO |
|
3 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Director |
13-06-07 |
13-06-07 |
Active |
NO |
|
Name : |
Mr. Varunkumar Punamchand Choudhary |
|
Designation : |
Director |
|
Address : |
9, Abhishek Apartments, Four Bunglows Andheri (West), Mumbai-400053, |
|
Date of Birth/Age : |
12.02.1984 |
|
Date of Appointment : |
25.03.2004 |
|
DIN No.: |
01634123 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Company Status |
Defaulting
status |
|
1 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Whole-time
director |
16-11-10 |
25-03-04 |
Active |
NO |
|
2 |
U32106MH2010PTC198416 |
MICROQUAL GLOBAL
SERVICES PRIVATE LIMITED |
Director |
04-01-10 |
04-01-10 |
Active |
NO |
|
Name : |
Mr. Koppisetty Srinivas |
|
Designation : |
Director |
|
Address : |
Flat No.304, Building No.15, Mahda Residential Complex, Oshiwara
Andheri (West), Mumbai, |
|
Date of Birth/Age : |
17.05.1963 |
|
Date of Appointment : |
28.06.2007 |
|
Date of Cession : |
28.10.2010 |
|
DIN No.: |
00514607 |
|
|
|
|
Name : |
Mr. Kumar Shiralagi |
|
Designation : |
Nominee Director |
|
Address : |
No. 384, 1st Cross Judges Colony, R.T. Nagar,
Bangalore-560032, |
|
Date of Birth/Age : |
15.05.1962 |
|
Date of Appointment : |
29.10.2007 |
|
DIN No.: |
01873430 |
Other Directorship:
|
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 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Nominee
director |
29-10-07 |
29-10-07 |
- |
Active |
NO |
|
2 |
U67190KA2006PTC039598 |
INDOUS CAPITAL
ADVISORS PRIVATE LIMITED |
Director |
15-11-07 |
15-11-07 |
- |
Active |
NO |
|
3 |
U52599TN1991PTC021123 |
BAY TALKITEC
PRIVATE LIMITED |
Nominee
director |
06-12-07 |
06-12-07 |
- |
Active |
NO |
|
4 |
U72900KA2003PTC032224 |
IDENIZEN
SMARTWARE PRIVATE LIMITED |
Director |
27-03-08 |
27-03-08 |
05-10-10 |
Active |
NO |
|
5 |
U28931UR2008PTC032573 |
ATTERO
RECYCLING PRIVATE LIMITED. |
Nominee
director |
08-06-08 |
08-06-08 |
- |
Active |
NO |
|
6 |
U65999TN2006PTC058603 |
BASIZ FUND
SERVICE PRIVATE LIMITED. |
Nominee
director |
16-06-08 |
16-06-08 |
- |
Active |
NO |
|
7 |
U22220TN2007PTC065507 |
LEXICON
PUBLISHING SERVICES PRIVATE LIMITED |
Director |
25-10-11 |
21-07-08 |
- |
Active |
NO |
|
8 |
U72200MH2008PTC187078 |
MICROQUAL
COVERAGE SOLUTIONS PRIVATE LIMITED |
Director |
25-09-08 |
25-09-08 |
- |
Active |
NO |
|
9 |
U72900MH2006PTC165965 |
GRADATIM I.T.
VENTURES (INDIA) PRIVATE LIMITED |
Nominee
director |
11-12-09 |
11-12-09 |
- |
Active |
NO |
|
10 |
U74999TN2010PTC075723 |
BASIZ INDIA
FUND SERVICES PRIVATE LIMITED |
Director |
14-05-10 |
14-05-10 |
- |
Active |
NO |
|
11 |
U72200AP2009PTC064532 |
VENSAT TECH
SERVICES PRIVATE LIMITED |
Nominee
director |
09-07-10 |
09-07-10 |
- |
Active |
NO |
|
12 |
U32205MH2010PTC205712 |
ROCS GLOBAL
PRIVATE LIMITED |
Director |
20-07-10 |
20-07-10 |
- |
Active |
NO |
|
13 |
U72300TN2006PTC060301 |
VISIONARY RCM
INFOTECH (INDIA) PRIVATE LIMITED |
Nominee
director |
09-08-10 |
09-08-10 |
- |
Active |
NO |
|
14 |
U33005MH1996PTC099218 |
MONARCH
INNOVATIVE TECHNOLOGIES PRIVATE LIMITED |
Nominee
director |
30-09-10 |
23-09-10 |
- |
Active |
NO |
|
15 |
U60200AP2008PTC058226 |
VAHAN MOTORS
PRIVATE LIMITED |
Additional
director |
31-03-11 |
31-03-11 |
- |
Active |
NO |
|
Name : |
Mr. Rangarajan Sridhar |
|
Designation : |
Nominee Director |
|
Address : |
|
|
Date of Birth/ Age : |
23.01.1976 |
|
Date of Appointment : |
26.11.2008 |
|
Nominee Company : |
JAFCO Asia Technology Investments III ( |
|
Date of Cession : |
30.03.2011 |
|
DIN No.: |
02399857 |
|
|
|
|
Name : |
Mr. Bhagwan Dass Khurana |
|
Designation : |
Additional Director |
|
Address : |
D-167, Whispering Meadwos, Sushant Lok-I, Gurgaon-122002, |
|
Date of Birth/Age : |
12.05.1944 |
|
Date of Appointment : |
30.12.2009 |
|
DIN No.: |
00005581 |
Other Directorship:
|
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 |
U32100MH1994PLC162841 |
RELIANCE
TELECOM LIMITED |
Director |
03-03-01 |
03-03-01 |
31-01-07 |
Active |
NO |
|
2 |
U72200MH2000PLC163072 |
RELIABLE
INTERNET SERVICES LIMITED |
Director |
04-10-01 |
04-10-01 |
31-01-07 |
Amalgamated |
NO |
|
3 |
U64200MH2000PLC127478 |
RELIANCE
GATEWAY NET LIMITED |
Director |
23-07-05 |
23-07-05 |
31-01-07 |
Amalgamated |
NO |
|
4 |
U72900MH2001PLC131598 |
RELIANCE
INFRATEL LIMITED |
Director |
23-07-05 |
23-07-05 |
31-01-07 |
Active |
NO |
|
5 |
U51900MH2000PLC125366 |
RELIANCE
GLOBALCOM LIMITED |
Director |
05-12-06 |
05-12-06 |
31-01-07 |
Active |
NO |
|
6 |
U72300HR2007PTC037388 |
NEWGEN ITES
PRIVATE LIMITED |
Director |
10-11-11 |
15-11-07 |
- |
Active |
NO |
|
7 |
U64200HR2007PTC037410 |
NEWGEN
COMMUNICATIONS PRIVATE LIMITED |
Director |
23-11-07 |
23-11-07 |
- |
Active |
NO |
|
8 |
U72300HR2008PTC037542 |
NEWGEN
HOLDINGS PRIVATE LIMITED |
Director |
17-01-08 |
17-01-08 |
- |
Active |
NO |
|
9 |
U72300DL2007PTC167902 |
SMART
DIGIVISION PRIVATE LIMITED |
Director |
26-12-08 |
19-02-08 |
29-06-10 |
Active |
NO |
|
10 |
U74140DL2008PTC184291 |
INSIGHT ALPHA
RESEARCH AND SOLUTIONS PRIVATE LIMITED |
Director |
10-09-09 |
20-12-08 |
19-09-11 |
Active |
NO |
|
11 |
U74900DL2009PTC187167 |
PHI
ENTERPRISES PRIVATE LIMITED |
Director |
02-02-09 |
02-02-09 |
- |
Active |
NO |
|
12 |
U64200DL2009PTC187250 |
PHI
TELEVENTURES PRIVATE LIMITED. |
Director |
04-02-09 |
04-02-09 |
25-03-09 |
Active |
NO |
|
13 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Director |
30-09-10 |
30-12-09 |
- |
Active |
NO |
|
14 |
U64200DL2010PTC211117 |
DRAGONWAVE
HFCL INDIA PRIVATE LIMITED |
Director |
07-12-11 |
10-03-11 |
- |
Active |
NO |
|
Name : |
Mr. Mithilesh Kumar Sinha |
|
Designation : |
Additional Director |
|
Address : |
1604, |
|
Date of Birth/Age : |
02.09.1935 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00011506 |
Other Directorship:
|
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 |
L17124AS1987PLC002758 |
PRAG BOSIMI
SYNTHETICS LIMITED |
Director |
29-03-98 |
29-03-98 |
26-04-11 |
Active |
NO |
|
2 |
U93000DL1991PLC046549 |
PASUPATI
FABRICS LIMITED |
Director |
30-04-01 |
30-04-01 |
20-04-07 |
Active |
NO |
|
3 |
L92111TN1999PLC043163 |
RADAAN MEDIA
WORKS INDIA LIMITED |
Director |
29-01-05 |
29-01-05 |
07-09-11 |
Active |
NO |
|
4 |
L67120WB1994PLC063008 |
GREENEARTH
RESOURCES AND PROJECTS LIMITED |
Director |
13-05-05 |
13-05-05 |
25-08-09 |
Active |
NO |
|
5 |
L25209MH1985PLC035938 |
JHAVERI FLEXO
INDIA LIMITED |
Director |
21-01-06 |
21-01-06 |
- |
Active |
NO |
|
6 |
U74999MH1974PTC163677 |
KALANI
INDUSTRIES Private LIMITED |
Director |
18-08-07 |
05-01-07 |
- |
Active |
NO |
|
7 |
L51900MH1992PLC067013 |
BANG OVERSEAS
LIMITED |
Director |
12-03-07 |
12-03-07 |
- |
Active |
NO |
|
8 |
L51909MH2003PLC138778 |
FIRST WINNER INDUSTRIES
LIMITED |
Director |
29-09-07 |
31-03-07 |
- |
Active |
NO |
|
9 |
U17301DL2002PLC116521 |
ORIENTAL
LINENS LIMITED |
Director |
20-10-07 |
20-10-07 |
- |
Active |
NO |
|
10 |
U67120MH2007PTC166711 |
SAFFRON
CAPITAL ADVISORS PRIVATE LIMITED |
Additional
director |
16-09-08 |
16-09-08 |
30-06-09 |
Active |
NO |
|
11 |
U93030WB2009PTC134429 |
METFIN
CORPORATE ADVISOR PRIVATE LIMITED |
Director |
30-04-09 |
30-04-09 |
06-04-11 |
Active |
NO |
|
12 |
U74999MH1978PLC020328 |
VIPUL IMPEX AND
INFRABUILD LIMITED |
Additional
director |
02-06-09 |
02-06-09 |
- |
Active |
NO |
|
13 |
U28910DL2009PLC187341 |
NEW CASTLE
STAINLESS STEEL LIMITED |
Director |
24-12-09 |
24-12-09 |
- |
Active |
NO |
|
14 |
U65910MH2010PTC205145 |
SUNSAI FINANCIAL
SERVICES PRIVATE LIMITED |
Director |
21-07-10 |
21-07-10 |
- |
Active |
NO |
|
15 |
U32200MH1999PLC121164 |
MICROQUAL
TECHNO LIMITED |
Director |
30-09-10 |
30-09-10 |
- |
Active |
NO |
|
16 |
U18109MH2010PLC209302 |
THOMAS SCOTT
(INDIA) LIMITED |
Director |
23-08-11 |
23-08-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Suresh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Equity Shareholders |
No. of Shares |
|
Mahesh Balkishan Choudhary |
503000 |
|
Premchand Radhakishan Choudhary |
500 |
|
Punamchand Radhakishan Choudhary |
500 |
|
Balkishan Radhakishan Choudhary |
500 |
|
Varun Premchand Choudhary |
503500 |
|
Bimaldevi Choudhary |
500 |
|
Sushil Choudhary |
502500 |
|
Sushiladevi Choudhary |
500 |
|
Meeradevi Choudhary |
500 |
|
Sneh Choudhary |
500 |
|
Prem Dyechem Industries Private Limited, India |
500 |
|
Payal Choudhary |
500 |
|
Anshu S Choudhary |
500 |
|
Total |
1514000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Nea- Indo |
456024 |
|
Jafco Asia Technology Investments III (Mauritius) Limited, Mauritius |
273614 |
|
BTS India Private Equity Funds Limited, |
182410 |
|
Total |
912048 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
0.03 |
|
Directors or relatives of Directors |
99.97 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily
engaged in manufacturing, trading and services related to telecommunication
components and products and providing integration services. |
|
|
|
|
Products : |
Ø
RF Cables Ø
Telecom Ø
Components Ø
Ø
Base station systems Ø
Antenna systems Ø
Coverage systems Ø
WiMax Systems Ø
RF Components Ø
RF Connectors Ø
Net Working Products Ø
Fibre Optic Products Ø
Transmission Lines Ø
RF Conditioning and Site Optimization
Products Ø
BTS Mechanical Ø
BTS Electrical Ø
WiMax Kit Ø
Microwave Kit Ø
Software solutions |
|
|
|
|
Exports : |
|
|
Countries : |
·
Nigeria ·
Nepal ·
Bangladesh |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
China ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Cables |
Mtrs. |
10000000 |
10000000 |
Notes:
The licensed
capacity is not given as licensing has been abolished vide Press Note No. 9
dated August 2, 1991 and Notification No. S.O. 477 (3E) dated July 25, 1991
issued by the Government of India, Ministry of Industry, Department of
Industrial Development.
* As the Company’s
operation is assembly in nature, the installed capacity of the plant is not
relevant.
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers ·
Reliance ·
TATA ·
IDEA |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, Ground Floor, Axis House, Bombay
Dyeing Mills Compund, Pandurang Budhkar Marg, Worli, Mumbai-400025,
Maharashtra, India ·
Central Bank of India, Plot No.C-6, B Block,
Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountant |
|
Address : |
Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel,
Mumbai-400013, |
|
Tel. No.: |
91-22-40356300 |
|
Fax No.: |
91-22-40356400 |
|
PAN No. : |
AALFS0506L |
|
|
|
|
Subsidiaries : |
Microqual
Coverage Solutions Private Limited CIN No.:-
U72200MH2008PTC187078 Microqual Global
Services Private Limited CIN No.:-
U32106MH2010PTC198416 Microqual
(Mauritius) Limited |
|
|
|
|
Enterprises under significant influence of the
Company : |
·
Microqual Bangladesh Limited ·
Microqual Singapore Pte Limited |
CAPITAL STRUCTURE
AFTER 30.09.2011
Authorised Capital : Rs. 584.500 Millions
Issued, Subscribed & Paid-up Capital : Rs. 534.526
Millions
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3060000 |
Equity Shares |
Rs.10/- each |
Rs. 30.600 Millions |
|
920000 |
Preference Shares |
Rs.445/- each |
Rs. 409.400 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 440.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1514000 |
Equity Shares |
Rs.10/- each |
Rs. 15.140
Millions |
|
912048 |
Fully Compulsorily Convertible Cumulative
Preference Share |
Rs.445/-
each |
Rs. 405.861
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 421.001
Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3060000 |
Equity Shares |
Rs.10/- each |
Rs. 30.600 Millions |
|
920000 |
4.025% Fully Compulsorily Convertible Cumulative Preference Shares |
Rs.445/- each |
Rs. 409.400 Millions |
|
450000 |
0.10% Fully Compulsorily Convertible Cumulative Preference Shares |
Rs.10/- each |
Rs. 4.500 Millions |
|
|
Total
|
|
Rs. 444.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1514000 |
Equity Shares |
Rs.10/- each |
Rs. 15.140
Millions |
|
912021 |
4.025% Fully Compulsorily Convertible Cumulative Preference Shares |
Rs.445/-
each |
Rs. 405.850
Millions |
|
419717 |
0.10% Fully Compulsorily Convertible Cumulative Preference Shares |
Rs.10/- each |
Rs. 4.197
Millions |
|
|
Total |
|
Rs. 425.187 Millions |
Note
1.
This represents 3,060,000 Equity shares of Rs.10
each
2.
This includes 920,000 - 4.025% Fully Compulsorily
Convertible Cumulative Preference shares ('FCCCPs') of Rs 445
each"-Rs.409.400 Millions and 450,000 - 0.10% FCCCPs of Rs 10
each-Rs.4.500 Millions
3.
This represents 1,514,031 Equity shares of Rs.10
each fully paid up
4.
This includes 912,021 - 4.025% FCCCPs of Rs 445
each fully paid up and 419,717-0.10% FCCCPs of Rs 10 each fully paid up
5.
This represents 1,514,031 Equity shares of Rs.10
each fully paid up
6.
This includes 912,021 - 4.025% FCCCPs of Rs 445
each fully paid up and 419,717-0.10% FCCCPs of Rs 10 each fully paid up
7.
This represents 1,514,031 Equity shares of Rs.10
each fully paid up
8.
This includes 912,021 - 4.025% FCCCPs of Rs 445
each fully paid up and 419,717-0.10% FCCCPs of Rs 10 each fully paid up
OTHER DETAILS
REGARDING SHARE CAPITAL
(1) 1,514,031
equity shares includes, 1,498,860 equity shares (March 31, 2010: 1,498,860)
that have been issued as bonus shares by way of capitalization of reserves.
(2) 27 preference shares
under 4.025% Fully Compulsorily Convertible Cumulative Preference shares
('FCCCPs') were converted into 30 equity shares of Rs 10 each during the year.
(3) During the
year, the Company has issued 419,717 0.10% FCCCPs of Rs 10 each at a premium of
Rs 895.37 per share, fully paid up
(4) Each FCCCPs
shall be compulsorily converted into such number of fully paid and
non-assessable equity shares as is determined pursuant to terms of the Share
Holding Agreement as agreed by the parties i.e. earlier of
(a) The closing of
Initial Public Offer
(b) June 26, 2027
in case of 4.025% FCCCP and November 30, 2030 in case of 0.1% FCCCP, as defined
under the Share Subscription Agreement.
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 |
425.187 |
421.001 |
421.001 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
832.913 |
249.272 |
170.966 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1258.100 |
670.273 |
591.967 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
932.055 |
745.808 |
385.343 |
|
|
2] Unsecured Loans |
8.061 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
940.116 |
745.808 |
385.343 |
|
|
DEFERRED TAX LIABILITIES |
46.446 |
27.008 |
10.579 |
|
|
|
|
|
|
|
|
TOTAL |
2244.662 |
1443.089 |
987.889 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
573.213 |
537.946 |
539.392 |
|
|
Capital work-in-progress |
43.177 |
41.979 |
12.893 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.245 |
0.205 |
0.104 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
229.635
|
325.066
|
178.329 |
|
|
Sundry Debtors |
1962.860
|
807.685
|
453.929 |
|
|
Cash & Bank Balances |
63.608
|
52.119
|
90.622 |
|
|
Other Current Assets |
61.037
|
80.748
|
0.327 |
|
|
Loans & Advances |
293.285
|
153.487
|
90.544 |
|
Total
Current Assets |
2610.425
|
1419.105 |
813.751 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
790.135
|
486.027
|
350.238 |
|
|
Other Current Liabilities |
172.505
|
64.975
|
25.574 |
|
|
Provisions |
19.758
|
5.144
|
2.439 |
|
Total
Current Liabilities |
982.398
|
556.146 |
378.251 |
|
|
Net Current Assets |
1628.027
|
862.959
|
435.500 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2244.662 |
1443.089 |
987.889 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3591.929 |
2312.852 |
1255.588 |
|
|
|
Other Income |
14.184 |
41.021 |
8.061 |
|
|
|
TOTAL (A) |
3606.113 |
2353.873 |
1263.649 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stock |
0.000 |
0.000 |
[62.149] |
|
|
|
Material Consumed |
2079.801 |
1607.482 |
1027.195 |
|
|
|
Manufacturing Service Cost |
38.374 |
36.419 |
0.000 |
|
|
|
Contract Cost |
728.557 |
339.170 |
0.000 |
|
|
|
Employee Cost |
117.103 |
78.940 |
36.588 |
|
|
|
Administrative and other expenses |
240.867 |
99.615 |
162.609 |
|
|
|
Prior Period Item |
0.000 |
(0.774) |
5.598 |
|
|
|
TOTAL (B) |
3204.702 |
2160.852 |
1169.841 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
401.411 |
193.021 |
93.808 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
88.122 |
46.549 |
48.965 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
313.289 |
146.472 |
44.843 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.866 |
29.937 |
9.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
276.423 |
116.535 |
35.105 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.485 |
38.229 |
11.220 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
201.938 |
78.306 |
23.885 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
246.736 |
168.430 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
448.674 |
246.736 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
67.030 |
0.164 |
0.537 |
|
|
TOTAL EARNINGS |
67.030 |
0.164 |
0.537 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
227.263 |
331.616 |
156.317 |
|
|
|
Trading Goods |
191.341 |
81.948 |
634.703 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
11.048 |
|
|
|
Capital Goods |
10.585 |
1.889 |
290.105 |
|
|
TOTAL IMPORTS |
429.189 |
415.453 |
1092.173 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
120.75 |
39.10 |
3.15 |
|
|
|
Diluted |
74.75 |
30.78 |
3.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.60
|
3.33 |
1.89
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.70
|
5.04 |
2.80
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.68
|
5.95 |
2.59
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.17 |
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
1.98 |
1.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.66
|
2.55 |
2.15
|
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. Constructions 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 |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
Yes |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
BACKGROUND
Subject was
incorporated on August 5 1999 as a private limited company. The name of the company
was changed to Subject on its conversion to public limited entity during the
year ended March 31, 2011 The Company is primarily engaged in manufacturing,
trading and services related to telecommunication components and products and
providing integration services.
PERFORMANCE
The Company
achieved a turnover of Rs.3591.929 Millions (previous year Rs.2312.852
Millions) which represents 55% growth which is outstanding. The Profit after
tax Rs.201.937 Millions (previous year Rs.78.306 Millions).
The year saw major
events in the Telecom Industry. The US and European markets were stagnant and
the emerging markets in Asia such as India and China experienced tough
competition. The Industry was in the news in India, most of the times for wrong
reasons which diverted the attention of the players and resulted in slower
growth. The industry saw the award of 3G licenses during the year fetching the
highest ever revenues to the Government of India thereby proving the faith of
the investors in the growth of the Indian telecom industry. We expect the same
to result in substantial investments in the telecom infrastructure that will
offer well-positioned companies like Microqual a great opportunity for growth.
They commenced
their RF Cable factory at Aurangabad in January 2009.The quality of their
product is excellent and matching all the international standards. They have by
now received approvals from almost all the major customers for their product as
well as their infrastructure which is rare in the industry. The copper prices
were volatile during the year and they were not able to pass on the impact of
the same fully to the customer and so had to scale the production accordingly.
They have developed a effective hedging mechanism to address the issue of the
volatility in the copper prices. With a healthy order book position, they
expect to achieve the at least 80% capacity utilization in current year.
In order to cater
to the global markets we have decided to acquire (through our subsidiary in
Singapore) a 100% equity shareholding in a French Company having a
manufacturing facility in China to manufacture RF cables. This will give the
company access to the emerging markets like Russia, EMEA countries. The
acquisition process is expected to be completed soon.
The TSP division
of the Company did exceedingly well. They extended their TSP operations during
the year to new states and now the company has presence in 15 states across the
country. Looking at the current roll out plans of various Telcos as well as the
fact that the 3G rollouts expected later this year, they feel there is an
immense opportunity for them and they are well positioned to cater to the
entire need of customers (operators and OEMs). We decided to follow their customers
to different geographies and have commence TSP business in Nepal, Bangladesh,
UAE, Nigeria, Kenya. As they understand the need of local partners in difficult
yet lucrative terrains, they have identified suitable local partners in such
countries and have formed a joint 49:51 JV in Nigeria directly as well as a
70:30 JV in Bangladesh through their subsidiary in Singapore.
NEW BUSINESSES:
As they
continuously strive to address the changing needs of our customers better, they
anticipated that in the years to come, telcos would focus on the reduction of
opex and capex. They started studying the power towers and their potential use
in telecom infrastructure.
They have won a
contract from a national power carrier as well as from a couple of State
Electricity Boards where they won exclusive rights to use their transmission
towers for the purpose of installing the telecom infrastructure. This will not
only reduce the cost of putting up a telecom tower but also significantly
reduce the time taken to complete the same. They are confident that this
project will take the Company to a new platform where it will start owning the
telecom assets. The initial response from the customer is overwhelming and has
encouraged them to come up with more innovative solutions to help operators
reduce their capex and opex. They extended the concept and benefit of cost
reducing solution for operators to In building solutions (IBS) business in
which they provide a solution to enhance the telecom signals and improve the
connectivity under BOOL (Build, Own, Operate Lease) model. They expect this to
bring in substantial revenues in the furture.
Company has also
expanded in providing services and solutions in Enterprise Solutions in
association with the OEMs.
FORMATION OF SUBSIDIARIES:
In line with the
Business Plan of the Company and also as per its decision to spread the
business to the different geographies and thereby having the global footprint
the Company formed a subsidiary in Mauritius namely Microqual Mauritius Limited
which has a step down subsidiary in Singapore namely Microqual Singapore Pte.
Limited.
Microqual
Mauritius Limited formed a 100% subsidiary viz. Microqual Kenya Limited and
Microqual Singapore Pte. Limited formed 100%subsidiaries viz. Microqual Middle
East Limited FZE, Microqual Uganda Limited and Microqual Tanzania Limited.
During the year,
Company through its Subsidiary Microqual Singapore Pte. Limited acquired 70%
shareholding of Safe and Advance Engineering Private Limited (later renamed as
Microqual Bangladesh Limited)
JOINT VENTURES
During the year
the Company formed a 50:50 joint venture (namely ROCS Global Private Limtied)
with M/s. Aerolex Cable Net, Bangalore mainly to carry out its BTS Hotelling
Project which involves use of optical fiber and cable TV network to carry RF
signals there by significantly reducing CAPEX and OPEX of the telecom
operators.
In order to
explore the excellent business opportunities in Nigeria and to reap the
advantages of growth there, Company formed a 49:51 JV with Servetek Engineering
(Nigeria) Limited. The name of the JV is Servequal Limited.
FUTURE PLAN OF ACTION
The Company
proposes to have a very well equipped world class R and D facility and New Product
development team, which will be manned by experienced and dedicated engineers.
The Company considers R and D to be the key for its growth. R and D, therefore,
is an integral part of the Company’s future growth plans. The Company shall
continue to launch new products and do work on import substitution and
optimization.
Aurangabad Plant
a) Development of
7/8 SF Aluminum RF cables.
b) Development of 1/2 F Aluminum RF cables.
c) Development of 1/2 SF Aluminum RF cables.
d) Development of 1-5/8 F Aluminum RF cables.
e) To develop Facility for Repeater Assembly and test Lab.
f) To manufacture ACFCU, DC DG and get site approvals.
g) To develop Hybrid cable for RRU
Rudrapur Plant
a) Resource
optimization
b) Maximize Safety and Minimize Environmental Hazards
c) Enhance productivity through improved working methods, regular
communication information and training.
d) Import substitution for IBS products
e) Plan of action has been taken to develop products in the current FY.
List is as follows.
I) Yagi Antenna
2) Sectorial Antenna
3) Combiner (2:1, 2:2, 3:1)
4) Splitters
5) Couplers
4) Diplexer 1800/2100
4) Triplexer
5) POI (12:4)
Banglore Plant
a) Bangalore Plant to be made dedicated R and D facility passive network
components like connectors, splitters, couplers etc
b) Develop all type of connectors for Cables manufactured in Aurangabad
plant.
c) Non RF Connectors like Multi pole connectors.
CONTINGENT
LIABILITIES
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Bank Guarantees |
93.712 |
140.668 |
|
Bills Accepted
under Letters of Credit |
181.292 |
9.745 |
|
Open Letters of
Credit |
180.635 |
116.382 |
|
Claims against
the Company not acknowledged as debts - Income Tax |
0.226 |
0.226 |
|
- Custom Duty |
1.265 |
1.265 |
|
Cumulative
Dividend on FCCCPs |
61.854 |
45.035 |
|
EPCG License
(Export obligation against concessional custom duty) |
73.583 |
73.583 |
FORM 8
|
Corporate
identity number of the company |
U32200MH1999PTC121164 |
|
Name of the
company |
MICROQUAL TECHNO LIMITED |
|
Address of the
registered office or of the principal place of business in |
306, Laxmi Plaza, Laxmi Industrial Estate, New Link Road,
Andheri (West), Mumbai - 400 053, Maharashtra |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Central Bank of India, Plot No.C-6, B Block, Bandra Kurla Complex,
Bandra (East), Mumbai-400051, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Agreement of
Hypothecation to secure demand cash credit against goods, dated 21st January
2012, 2. Agreement of
Hypothecation of Book Debts (for sub limit of cash credit facilities) dated
21st January, 2012 All the
agreements constitute a single charge. |
|
Date of
instrument Creating the charge |
21.01.2012 |
|
Amount secured by
the charge |
Rs. 60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Compound Interest
Rate is 4.0% over Bank's BPRL / Base Rate as stipulated by Bank. Terms of repayment As may be
specified from time to time. Margin 25% as stipulated
by Bank Extent and operation of the charge 1st Pari Passu
charge created by way of hypothecation on stock and book debts for the
repayment of financial facilities granted by the bank to the borrower Fund
based cash credit Rs. 60.000 Millions (sub limit of CC-ODBD Rs. 15.000
Millions) |
|
Short particulars
of the property charged (Including location of the property) |
All tangible
movable property such as products, stock in trade and goods of the borrowers. All the
borrower's present and future book debts. |
TRADE REFRENCES:
·
Reliance
·
TATA
·
IDEA
FIXED ASSETS:
·
·
·
Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Vehicle
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.56.99 |
|
|
1 |
Rs.88.97 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.