MIRA INFORM REPORT
|
Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SYRMA TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri (East),
Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-148165 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH2004PTC148165 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS45407F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS5745D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Information Technology Products |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 780000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. It has
recorded a healthy growth of about 22.44% in its sales during 2011. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct. 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country’s growth, which has averaged more than 7% per
year since 1997. India’s diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India’s output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis – in large part because of strong domestic demand – and growth
exceeded 8% year-on-year in real terms. However, India’s economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government’s fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India’s medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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 DECLINED
Management non co-operative
(Tel No.:91-22-40363000)
LOCATIONS
|
Registered Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-40363000 |
|
Fax No.: |
91-22-28291176 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.B27, Phase II, Zone B, MEPZ-SEZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
|
Tel. No.: |
91-44-22628600 |
|
Fax No.: |
91-44-22628612 |
|
|
|
|
Overseas Offices : |
Located at
|
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Sandeep Tandon |
|
Designation : |
Director |
|
Address : |
37, Merry Niketan, |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
29.12.2004 |
|
DIN No.: |
00054553 |
|
|
|
|
Name : |
Mr. Vasu Thirumalai |
|
Designation : |
Director |
|
Address : |
A-603, Cascade Vasant Oscar, LBS Marg, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1944 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
00311691 |
|
|
|
|
Name : |
Mr. Vallabh Thapliyal |
|
Designation : |
Director |
|
Address : |
A1-31, Panchsheel Enclave, New Delhi – 110017, India |
|
Date of Birth/Age : |
15.07.1947 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
01911258 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Nagori |
|
Designation : |
Secretary |
|
Address : |
B-14, Building No. 5, Nalanda, Mittal Enclave, Naigaon East, Vasai,
Thane – 401202, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1983 |
|
Date of Appointment : |
18.06.2010 |
|
PAN No.: |
AFSPN5761Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Equity Shareholders |
|
No. of Shares |
|
|
|
|
|
Veena Kumari Tandon |
|
2100 |
|
Tancom Electronics Private Limited, India |
|
522900 |
|
Total |
|
525000 |
|
Names of Preferences Shareholders |
|
No. of Shares |
|
|
|
|
|
Tancom Electronics Private Limited, India |
|
700000 |
|
Total |
|
700000 |
As on 28.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.60 |
|
Directors or relatives of Directors |
0.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Information Technology Products |
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|
Products : |
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Magnetic Coils and Coil Subassemblies |
|
Nos. |
20000000 |
13137605 |
|
Memory Devices |
|
Nos. |
Not specified |
2223784 |
|
Antenna |
|
Nos. |
80000 |
78,075 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Bankers : |
State Bank of India,
SME Guindy Branch, 65-A, G.S.T Road, Chennai - 600032, Tamilnadu, India |
|||||||||||||||||||||||||||||||||
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Facilities : |
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|||||||||||||||||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
New No. 6 (36), Krishnaswamy Avenue, Mylapore Luz, Chennai - 600004, Tamilnadu, India |
|
PAN No.: |
AAAFR0602F |
|
|
|
|
Holding Company : |
Tancom Electronics Private Limited CIN No. U32107MH1988PTC047729 |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
900000 |
Preferences Shares |
Rs. 100/- each |
Rs. 90.000 Millions |
|
|
Total
|
|
Rs.
125.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
525000 |
Equity Share |
Rs.10/- each |
Rs. 5.250 Millions |
|
700000 |
Preferences Shares |
Rs. 100/- each |
Rs. 70.000 Millions |
|
|
Total |
|
Rs. 75.250
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 |
75.250 |
75.250 |
75.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
119.492 |
82.366 |
59.489 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
194.742 |
157.616 |
134.739 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
266.327 |
203.185 |
91.077 |
|
|
2] Unsecured Loans |
142.115 |
69.976 |
9.200 |
|
|
TOTAL BORROWING |
408.442 |
273.161 |
100.277 |
|
|
DEFERRED TAX LIABILITIES |
11.392 |
8.890 |
6.598 |
|
|
|
|
|
|
|
|
TOTAL |
614.576 |
439.667 |
241.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
152.324 |
129.429 |
108.515 |
|
|
Capital work-in-progress |
0.550 |
5.225 |
13.731 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.000 |
1.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
364.733
|
216.741 |
118.490 |
|
|
Sundry Debtors |
558.933
|
472.800 |
124.123 |
|
|
Cash & Bank Balances |
47.702
|
84.827 |
17.503 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
107.282
|
82.124 |
49.416 |
|
Total
Current Assets |
1078.650
|
856.492 |
309.532 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
538.346 |
483.200 |
150.190 |
|
|
Other Current Liabilities |
57.550
|
45.403 |
20.643 |
|
|
Provisions |
32.052
|
23.876 |
19.331 |
|
Total
Current Liabilities |
627.948
|
552.479 |
190.164 |
|
|
Net Current Assets |
450.702
|
304.013 |
119.368 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
614.576 |
439.667 |
241.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1968.900 |
1487.700 |
1061.200 |
|
|
|
Other Income |
NA |
NA |
33.335 |
|
|
|
TOTAL (A) |
NA |
NA |
1094.535 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
1034.055 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
71.692 |
60.480 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
31.412 |
15.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
40.280 |
45.441 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
9.841 |
5.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
47.232 |
30.439 |
39.597 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.106 |
7.562 |
13.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
37.126 |
22.877 |
25.653 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.616 |
34.739 |
9.086 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
94.742 |
57.616 |
34.739 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1119.600 |
431.766 |
955.452 |
|
|
TOTAL EARNINGS |
1119.600 |
431.766 |
955.452
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
848.321 |
661.310 |
670.390 |
|
|
TOTAL IMPORTS |
848.321 |
661.310 |
670.390 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.04 |
32.68 |
38.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
2.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
3.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.84
|
3.09 |
9.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.19 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.32
|
5.24 |
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.55 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditors |
|
|
|
|
- Due Small Micro Enterprises |
0.000 |
0.000 |
0.000 |
|
- Due Others |
538.346 |
483.200 |
150.190 |
|
Total |
538.346 |
483.200 |
150.190 |
|
Sr. No. |
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) |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE REVIEW
The Company continued to record a strong growth in its sales. During the year the Company had achieved a turnover of Rs.1968.900 Millions as compared to Rs.1487.700 Millions in the previous year, registering a growth of about 22.44%. The profit before tax for the year amounted to Rs.47.200 Millions as against Rs.30.400 Millions in the previous year, registering a increase of about 55.16%, while the net profit amounted to Rs.37.100 Millions as compared to Rs.22.800 Millions in the previous year.
CONTINGENT LIABILITY:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Letter of Credit facility from Bank |
115.296 |
243.182 |
|
Corporate Guarantees given by the company for the loans taken by others from Scheduled Banks/Financial Institutions |
313.700 |
101.236 |
|
Bank guarantees from scheduled banks |
139.690 |
123.765 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U30007MH2004PTC148165 |
|
Name of the company |
SYRMA TECHNOLOGY PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India E-mail Id : info@syrmatech.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10063394 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge holder |
State Bank of India, SME Guindy Branch, 65-A, G.S.T Road, Chennai - 600032, Tamilnadu, India E-mail Id : mahendiran56@gmail.com |
|
Nature of instrument creating charge |
Letter Regarding the grant of Individual Limits within the overall limit. |
|
Date of instrument Creating the charge |
24.04.2012 |
|
Amount secured by the charge |
Rs.527.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC (Hypothecation): 5.75% above BR (10.00%) i.e.15.75% p.a. EPC/PCFC and FBDN/EBR: 1.50% above BR upto 270 days i.e.11.50% p.a. TL: 7.75% above BR (10.00%) i.e.17.75% p.a. SLC: 1.00% above CC rate. Terms of Repayment Working Capital: Repayable on Demand Term Loan: As per the Repayment Schedule Margin Raw Materials 25% Stock in Process 25% Finished Goods 25% Bank Guarantee 25% Book Debts/Receivables 25% Letter of Credit 25% TL/Capex LC 35% |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
The existing charge on the Current Assets, Export Receivables, Merchandise covered under LC, Plant and Machineries belonging to the Company shall continue to secure the present reduced limit The existing charge on the immovable properties belonging to the Company shall continue to secure the present reduced limit. Backed up by the Corporate Guarantee of M/s Tancom Electronics Private Limited and M/s Tandon Magnetics (India) Private Limited |
|
Date of instrument modifying the charge |
13/09/2011 |
|
Particulars of the present modification |
By the present modification, the overall limit has been reduced from Rs.609.100 Millions to Rs.527.000 Millions by closure and sanctioning of facilities and secured by the Current Assets, Export Receivables, Merchandise covered under LC, Plant and Machineries and immovable properties belonging to the Company. Backed up by the Corporate Guarantee of M/s Tancom Electronics Private Limited and M/s Tandon Magnetics (India) Private Limited |
Fixed Assets:
- Building
- Plant and Machinery
- Office Equipment
- Computers
- Furniture and Fittings
- Vehicles
- Electrical Fittings and Installation
- Computer Software
PRESS RELEASE:
SYRMA TECHNOLOGY
INTRODUCES CUSTOMIZABLE TAG SOLUTIONS AT RFID JOURNAL LIVE! 2011
LOW FREQUENCY AND 13.56
MHZ TAG PROVIDER SHOWCASES SPECIALTY PRODUCTS
FOR IMMEDIATE RELEASE
San Jose, CA – March 28, 2011 – Syrma Technology, a premier provider of standards-based, customizable RFID tags, is exhibiting at RFID Journal LIVE! 2011 for the first time to feature its RFID product lines, custom design and manufacturing services. RFID Journal LIVE! 2011 will be held April 12-14 at the Orange County Convention Center in Orlando, Florida. Syrma is exhibiting in Hall B1, booth 647.
Syrma’s tags are custom designed and manufactured to meet specific customer requirements using ISO-standard ICs from Texas Instruments, NXP, Atmel, EM Microelectronic, Infineon, STMicroelectronics and other leading suppliers. Syrma has an extensive product line of high frequency (13.56 MHz), low frequency (125 KHz / 134 KHz) and UHF (850-950 MHz) tags in molded plastic, glass, tube, nail, wristband, ID card, epoxy and other form factors.
Syrma has been designing and manufacturing RFID tags for 20 years and its products have been used in hundreds of unique and challenging application environments. The company provides custom design and production services for end-user customers, solution providers and OEMs. At RFID Journal LIVE! 2011 Syrma will be featuring several products and reference designs that have been successfully used in difficult environments where there is strong interest in using RFID, but where off-the-shelf tags may not provide optimal performance. These include:
- Industrial safety equipment management, highlighted by an injection molded ISO 15693-standard tag that is specially designed to function in very harsh operating environments.
- Medical industry solutions, including a sterilizable tag used for automated hospital equipment tracking, and a small form factor tag for specimen identification in laboratory environments while ensuring privacy.
- Food process management – ISO 15693 tags molded in food-grade plastic for traceability and inventory management.
- Tags with very small form factors (5mm inlay, 6mm and 10mm epoxy encapsulated tags).
SYRMA TECHNOLOGY
INTRODUCES CUSTOMIZABLE TAG SOLUTIONS AT EURO ID 2011 IN BERLIN
LOW FREQUENCY AND
13.56 MHZ TAG PROVIDER SHOWCASES SPECIALTY PRODUCTS
FOR IMMEDIATE
RELEASE
Chennai, India – March 22, 2011 – Syrma Technology, a premier provider of standards-based, customizable RFID tags, is exhibiting at Euro ID 2011 for the first time to feature its RFID product lines, custom design and manufacturing services. Euro ID 2011 is taking place at the Messe Berlin trade fair grounds, Berlin Germany from the 5th to 7th of April. Syrma will exhibit at Booth no: A 20.
Syrma’s tags are custom designed and manufactured to meet specific customer requirements using ISO-standard ICs from Texas Instruments, NXP, Atmel, EM Microelectronic, Infineon, STMicroelectronics and other leading suppliers. Syrma has an extensive product line of high frequency (13.56 MHz), low frequency (125 KHz / 134 KHz) and UHF (850-950 MHz) tags in molded plastic, glass, tube, nail, wristband, ID card, epoxy and other form factors.
Syrma has been designing and manufacturing RFID tags for 20 years and its products have been used in hundreds of unique and challenging application environments. The company provides custom design and production services for end-user customers, solution providers and OEMs. At EURO ID 2011 Syrma will be featuring several products and reference designs that have been successfully used in difficult environments where there is strong interest in using RFID, but where off-the-shelf tags may not provide optimal performance. These include:
- Industrial safety equipment management, highlighted by an injection molded ISO 15693-standard tag that is specially designed to function in very harsh operating environments.
- Medical industry solutions, including a sterilizable tag used for automated hospital equipment tracking, and a small form factor tag for specimen
identification in laboratory environments while ensuring privacy.
- Food process management – ISO 16593 tags molded in food-grade plastic for traceability and inventory management.
- Tags with very small form factors (5mm inlay, 6mm and 10mm epoxy encapsulated tags).
SYRMA TECHNOLOGY
ACHIEVES AS9100 AEROSPACE CERTIFICATION IN CHENNAI INDIA SITE
- EMS COMPANY SEES
STRONG GROWTH IN DEFENSE AND AEROSPACE OPPORTUNITIES -
FOR IMMEDIATE RELEASE
CHENNAI, India – February 2, 2011 – Syrma Technology, an India-based Electronics Manufacturing Services (EMS) partner, announced today it has received certification of its quality systems to the AS9100 Aerospace quality systems standard. Syrma is the manufacturing arm of The Tandon Group, a leader in helping global OEMs successfully bring products and services to the fast-growing Indian market.
“The Indian defense market is experiencing unprecedented growth, with the Government of India expected to spend nearly $80 billion USD over the next 5 years on defense capital equipment procurement. Also according to a recent Boeing report, the Indian commercial aviation market will require 1150 jets over the next 20 years. To participate in the expanding India MIL/AERO market global OEMs are pursuing India manufacturing partnerships and JVs to support their growth,” said Steve Heinzen, VP Sales and Marketing of Syrma Technology. “The combination of the strength of our existing engineering and manufacturing organization, AND the addition of AS9100 certification positions us well as Global Defense and Aerospace OEMs seek India business partners to help them participate in the expected business growth.”
In the defense sector Syrma offers manufacturing services for PCBA, box build and cable / harness fabrication. Also, in conjunction with other Tandon Group companies they offer defense and aerospace sales, installation / commissioning and other technical support services for OEMs seeking partners capable of assisting in market share expansion, and complying with the Government of India Defense Procurement Policy (DPP) offset obligations. The Tandon Group defense management organization includes senior executives from several India defense giants, as well as former high ranking India Military officers.
Syrma will be showcasing their Mil/Aero offering at several upcoming events including the AEROCON 2011 exhibition, Booth 3995 in Anaheim, California Feb 8-10, and also at the AEROINDIA Exhibition in Bangalore Feb 9-13, the latter as part of The Tandon Group Booth in Hall F, Booth F12.
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 :
o 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.52.97 |
|
|
1 |
Rs.85.45 |
|
Euro |
1 |
Rs.69.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
47 |
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.