|
Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MODERN COMMUNICATION AND BROADCAST SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17, Vasuma Bungalows, Vastrapur, Ahmedabad – 380015, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.07.1985 |
|
|
|
|
Com. Reg. No.: |
04-007980 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.34.980 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32100GJ1985PTC007980 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM01615F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Communication and
Broadcasting Equipments. |
|
|
|
|
No. of
Employees: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 323000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears some dip in the sales turnover of the company during 2011. However, trade relations as decent. 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 1B |
|
Rating Explanation |
Highest performance capability and moderate
financial strength |
|
Date |
February 2009 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON CO – OPERATIVE
91-79-23287379
LOCATIONS
|
Registered Office : |
17, Vasuma Bungalows, Vastrapur, Ahmedabad – 380015, |
|
Tel. No.: |
91-79-26562821 |
|
Fax No.: |
91-79-26401407 |
|
E-Mail : |
|
|
|
|
|
Head Office / Factory : |
B – 138/139, GIDC Electronics Estate Sector – 25, Gandhinagar –
382025, |
|
Tel. No.: |
91-79-23287295/23287369/23288256 |
|
Fax No.: |
91-79-23287294 |
|
E-Mail : |
|
|
|
|
|
Branches: |
Located at ·
Ahmedabad ·
·
·
·
·
Bhuvneshwar ·
Rajasthan ·
|
|
|
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Gyanchand Fulchand Jain |
|
Designation : |
Director |
|
Address : |
17, Vasuma Bungalows, Opp. Taxshila Flats, Vastrapur, Ahmedabad –
380015, |
|
Date of Birth/Age : |
30.03.1946 |
|
Qualification : |
BE, ME (Adv. Electrical), Fiete Miee |
|
Date of Appointment : |
25.07.1985 |
|
Din No.: |
00383878 |
|
|
|
|
Name : |
Mr. Ashish Gyanchand Jain |
|
Designation : |
Director |
|
Address : |
17, Vasuma Bungalows, Opp. Taxshila Flats, Vastrapur, Ahmedabad –
380015, |
|
Date of Birth/Age : |
12.03.173 |
|
Qualification : |
BE, MBA. |
|
Date of Appointment : |
01.12.2005 |
|
Din No.: |
00384039 |
|
|
|
|
Name : |
Mr. Manish Gyanchand Jain |
|
Designation : |
Director |
|
Address : |
17, Vasuma Bungalows, Opp. Taxshila Flats, Vastrapur, Ahmedabad –
380015, |
|
Date of Birth/Age : |
01.10.1975 |
|
Qualification : |
BE Diploma in International Business Management |
|
Date of Appointment : |
15.11.2002 |
|
Din No.: |
00384017 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gyanchand Jain |
|
1326661 |
|
Angoorideiv Jain |
|
935014 |
|
Ashish Jain |
|
300100 |
|
Manish Jain |
|
311900 |
|
Pooja Jain |
|
117750 |
|
Babulal Jain |
|
10800 |
|
Ratnibai Jain |
|
10800 |
|
New Communication Technology Private Limited |
|
215000 |
|
Space Communication Technology ( |
|
270000 |
|
|
|
3498025 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
13.87 |
|
Directors or relatives of directors |
|
86.13 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Communication and
Broadcasting Equipments. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Bankers : |
State Bank of |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Rs.
In Millions
NOTE: * Nature of
security on loan including interest accrued interest there on 1.
Cash credit stand by line of credit are secured
by hypothecation of existing current assets
of the company which includes
stock of raw material, stock in process, semi finished goods, stores and
spares, bill receivables and book debts 2.
Term loan including open term loan and car loan are secured by hypothecation of
plant and machinery and vehicles 3.
Other loans consist of loan form LIC Secured
against LIC Polices of directors
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ambani Gupta and Jain Chartered Accountants |
|
Address : |
311, Abhushan Complex, 17, Mahadevnagar Society, SP Stadium Road,
Navrangpura, Ahmedabad – 380014, Gujarat |
|
Tel. No.: |
91-79-2646 7011, 2646 2906 |
|
Fax No.: |
91-9825019148 |
|
E-Mail : |
|
|
Pan No.: |
AAEFA7500R |
|
|
|
|
|
|
|
Related Party : |
· New Communication Technology Private Limited ·
Space Communication Technology ( · MCBS International Private Limited · First Capital and Finance Private Limited |
CAPITAL STRUCTURE
As on.31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3498025 |
Equity Shares |
Rs.10/- each |
Rs.34.980
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 |
34.980 |
34.980 |
34.980 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
45.876 |
37.295 |
27.992 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.856 |
72.275 |
62.972 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
98.039 |
50.192 |
38.733 |
|
|
2] Unsecured Loans |
3.012 |
1.310 |
1.204 |
|
|
TOTAL BORROWING |
101.051 |
51.502 |
39.937 |
|
|
DEFERRED TAX LIABILITIES |
2.143 |
0.651 |
0.066 |
|
|
|
|
|
|
|
|
TOTAL |
184.050 |
124.428 |
102.975 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
83.330 |
42.319 |
33.510 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.037 |
0.037 |
0.037 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.433
|
13.164 |
12.088 |
|
|
Sundry Debtors |
71.721
|
42.546 |
58.612 |
|
|
Cash & Bank Balances |
20.360
|
51.502 |
39.474 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
32.922
|
38.525 |
25.643 |
|
Total
Current Assets |
179.436
|
145.737 |
135.817 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
36.270
|
27.760 |
32.903 |
|
|
Other Current Liabilities |
15.807
|
11.652 |
12.362 |
|
|
Provisions |
26.789
|
24.394 |
21.281 |
|
Total
Current Liabilities |
78.866
|
63.806 |
66.546 |
|
|
Net Current Assets |
100.570
|
81.931 |
69.271 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.113 |
0.141 |
0.157 |
|
|
|
|
|
|
|
|
TOTAL |
184.050 |
124.428 |
102.975 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
383.146 |
530.375 |
660.451 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.856 |
25.423 |
21.434 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.586 |
4.700 |
4.487 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
19.270 |
20.723 |
16.647 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.611 |
7.333 |
6.658 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
12.659 |
13.390 |
10.289 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.895 |
7.239 |
31.029 |
|
|
|
Other Earnings |
0.236 |
0.064 |
Nil |
|
|
TOTAL EARNINGS |
7.131 |
7.303 |
14.434 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
159.572 |
430.945 |
502.901 |
|
|
|
Capital goods |
16.856 |
0.000 |
0.000 |
|
|
|
176.428 |
430.945 |
502.901 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.62 |
3.83 |
2.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.33 |
11.01
|
9.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.28
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.23 |
1.59
|
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.78 |
2.28
|
2.04 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors for goods and Expenses |
35.276 |
27.479 |
32.550 |
|
Creditors for fixed assets |
0.994 |
0.281 |
0.353 |
|
Total |
36.270 |
27.760 |
32.903 |
OPERATION AND BUSINESS PROSPECT
The company business was in three vertical viz
cable Tv. Dish antenna and project. During the financial year 2010-11 company
has sifted from trading of antenna to manufacturing of antenna by establishing
new manufacturing facility for Dish Antenna at existing factory at Gandhinagar.
The company started commercial production of Dish Antenna form November, 2011.
In previous financial year 2009-10 company major sales was form trading
antenna. As company shifted to manufacturing in financial year 2010-11, trading
activity of dish antenna stropped to supply their own manufactured antenna and
therefore, because of streamline on new
manufacturing facility, company’s sales of antenna was turnover, which impact
on company turnover in coming years. The company turnover on new facility got
ramp up in future company hope to achieve higher turnover in coming year. The
company turnover was Rs.383.100 Millions financial year 2010-11, as compare to
Rs.530.400 Millions in 2009-10, The net profit of the company was Rs.12.700
Millions 2010-11 as compared to Rs.13.400 Millions in 2009-10
FIXED ASSETS:
·
Land
·
Building
·
Computer
·
Eclectic
Installation
·
Furniture and Fixtures
·
Office Equipment
·
Plant and Machinery
·
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 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.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.