MIRA INFORM REPORT
|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUN BROADCAST EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3/31, 3rd Floor, West Patel Nagar, New Delhi - 110 008 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
14.08.2002 |
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Com. Reg. No.: |
55-116546 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201DL2002PTC116546 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS19530A |
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PAN No.: [Permanent Account No.] |
AAGCS4766E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealing of Broadcasting Equipments. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
3/31, 3rd Floor, West Patel Nagar, New Delhi - 110 008,
India |
|
Tel. No.: |
91-11-25889728-31 |
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Fax No.: |
91-11-25889252 / 2588 7824 |
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E-Mail : |
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Website : |
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Service Center : |
16/5, 2nd Floor, W.E.A Karol Bagh, New Delhi – 110 005,
India |
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Tel. No.: |
91-11- 45019907-09 |
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Fax No.: |
91-11-45019966 |
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E-Mail : |
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Sales / Service : |
Located At
|
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Sunil Malik |
|
Designation : |
Director |
|
Address : |
40/16, East Patel Nagar, new Delhi – 110008, India |
|
Date of Appointment : |
14.08.2002 |
|
DIN No.: |
00225776 |
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|
|
|
Name : |
Mrs. Manju Malik |
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Designation : |
Director |
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Address : |
40/16, East Patel Nagar, new Delhi – 110008, India |
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Date of Appointment : |
01.09.2007 |
|
DIN No.: |
00226017 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kush Malik |
|
45000 |
|
LUV Malik |
|
50000 |
|
Sunil Malik |
|
5000 |
|
Total |
|
100000 |
As on 24.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealing of Broadcasting Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Financial Institutions: |
A. K. Capital Finance
Private Limited, 30-39, Free Press House, 3rd Floor, Free Press Journal Marg,
215, Nariman Point, Mumbai – 400021, Maharashtra, India |
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|
|
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Auditors : |
|
|
Name : |
A.K. Batra and Associates Chartered Accountants |
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Address : |
A-36, First Floor, Ring Road, Rajouri Garden, New Delhi – 110027,
India |
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Tel. No.: |
91-11-25161015 / 25161016 |
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PAN.: |
AAAFA7179A |
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Subsidiaries : |
Sun Itech And Broadcast Private Limited CIN No.: U32204DL2009PTC195660 |
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Associate Companies
: |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
Million |
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Reconcilation of number
of shares outstanding and amount of share capital
|
Particulars |
Number |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
1 00,000 |
1.000 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
1 00,000 |
1.000 |
The Company has only one class of shares reffered to as equity shares having a par value of Rs. 10 each. Each holder of equity share is entitled to one vote per share.
Particulars of equity
share holders holding more than 5% of the total number of equity share capital:
|
Name of Shareholder |
% of Holding |
No. of Shares held |
|
Mr. Sunil Malik |
5.00% |
5,000 |
|
Mr. Luv Malik |
50.00% |
50,000 |
|
Mr. Kush Malik |
45.00% |
45,000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
37.934 |
28.731 |
19.748 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
38.934 |
29.731 |
20.748 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
67.869 |
16.015 |
27.273 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
26.150 |
|
|
TOTAL BORROWING |
67.869 |
16.015 |
53.423 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
106.803 |
45.746 |
74.171 |
|
|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
3.257 |
3.880 |
4.844 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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INVESTMENT |
7.852 |
7.852 |
1.832 |
|
|
DEFERREX TAX ASSETS |
0.359 |
0.311 |
0.236 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.354
|
8.550 |
17.290 |
|
|
Sundry Debtors |
92.127
|
48.151 |
34.344 |
|
|
Cash & Bank Balances |
40.866
|
42.461 |
8.752 |
|
|
Other Current Assets |
0.000
|
0.000 |
2.096 |
|
|
Loans & Advances |
15.678
|
8.565 |
59.251 |
|
Total
Current Assets |
164.025
|
107.727 |
121.733 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
61.961
|
64.054 |
49.973 |
|
|
Other Current Liabilities |
1.976
|
5.365 |
1.782 |
|
|
Provisions |
4.753
|
4.605 |
2.719 |
|
Total
Current Liabilities |
68.690
|
74.024 |
54.474 |
|
|
Net Current Assets |
95.335
|
33.703 |
67.259 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
106.803 |
45.746 |
74.171 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
406.577 |
305.302 |
207.754 |
|
|
|
Other Income |
1.670 |
1.282 |
7.605 |
|
|
|
TOTAL |
408.247 |
306.584 |
215.359 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
394.197 |
293.026 |
207.104 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
394.197 |
293.026 |
207.104 |
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
14.050 |
13.558 |
8.255 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.847 |
4.531 |
2.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
9.203 |
9.027 |
5.698 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
76.403 |
34.331 |
5.256 |
|
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|
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|
|
|
|
|
|
VALUE OF IMPORTS |
220.034 |
110.573 |
71.191 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
92.03 |
90.27 |
56.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.25
|
11.20 |
2.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.46
|
4.44 |
3.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.40
|
12.15 |
6.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.46 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.51
|
3.03 |
5.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
1.46 |
2.23 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
OPERATIONS
The Company has made Sales of Rs.383.035 Millions (Previous Year Rs. 276.692 Millions) and has earned Service / Works Receipts of Rs. 9.750 Millions (Previous Year Rs.18.367 Millions) during the year.
FINANCIAL RESULTS
The Company has earned a profit of Rs. 14.050 Millions (Previous Year profit of Rs.13.558 Millions) during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U32201DL2002PTC116546 |
|
Name of the
company |
SUN BROADCAST
EQUIPMENTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3/31, 3rd Floor, West Patel Nagar, New Delhi - 110 008. India |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (sub survient charge on all the fixed assets.) |
|
Particular of
charge holder |
A. K. Capital
Finance Private Limited, 30-39, Free Press House, 3rd Floor, Free Press
Journal Marg, 215, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of hypothecation dated June 21 2012 entered between A. K. Capital Finance Private Limited - lender and sun broadcast equipments private limited - borrower for securing the term loan of Rs. 60.000 Millions granted to the borrower. |
|
Date of
instrument Creating the charge |
21.03.2012 |
|
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 14% (per annum) Terms of Repayment Bi-Annual Installments of Rs. 12.000 Millions Each Beginning at The End of 12 Months From The Date of Disbursement. Interest Repayment - Interest To Be Served Quarterly In Arrears For The Enitre Tenor Including The Moratorium Period. (Moratorium Period of 12 Months) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Entire Fixed Assets of The Borrower Wherever Situated. |
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 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.53.85 |
|
|
1 |
Rs.85.26 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
45 |
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.