MIRA INFORM REPORT
|
Report Date : |
31.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SEMIKRON ELECTRONICS PRIVATE LIMITED (w.e.f. 04.01.2002) |
|
|
|
|
Formerly Known
As : |
MONOLITHIC DEVICES AND ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
EL-148, TTC Industrial Area, Electronics Zone, MIDC, Mahape, Navi
Mumbai-400710, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.01.1983 |
|
|
|
|
Com. Reg. No.: |
11-029136 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 16.980 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32106MH1983PTC029136 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Semi- Conductor devices and Power
Electronics Solutions |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a good track record. Financial position of the company is strong and healthy. Performance
capability is high. Liquidity position is good. Trade relations are fair. Business is active. Payments are recorded as
regular. The company can be considered good 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 |
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 : |
EL-148, TTC Industrial Area, Electronics Zone, MIDC, Mahape, Navi
Mumbai-400710, Maharashtra, India |
|
Tel. No.: |
91-22-27628600 |
|
Fax No.: |
91-22-27616817 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kolekady Padmanabha Kamath |
|
Designation : |
Alternate Director |
|
Address : |
401, Neelkamal Arcade, Plot No.6 and 67, Sector 2A, Koper Khairne, Navi
Mumbai – 400701, Maharashtra, India |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00038306 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U32106MH1983PTC029136 |
SEMIKRON
ELECTRONICS PRIVATE LIMITED |
Managing
director |
12-03-13 |
01-04-04 |
Active |
NO |
|
Name : |
Mr. Thomas Bruno Wolfram Dippold |
|
Designation : |
Director |
|
Address : |
Jakob Herz Weg, 22, Earlangen-91052 |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
02744285 |
|
|
|
|
Name : |
Mr. Sharadraj Yeshwant Shanbhag |
|
Designation : |
Alternate Director |
|
Address : |
Flat No.32, Royal Castle Plot No.75, Sector No.19/20, CBD Belapur,
Navi Mumbai-400614, Maharashtra, India |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
02772791 |
|
|
|
|
Name : |
Mr. Ramesan Kanji Ramkunnel Neelakandan Achari |
|
Designation : |
Alternate Director |
|
Address : |
C-5/3/0 2, Sector-1-A, Panchsheel Apartment, CBD Belapur, Navi
Mumbai-400614, Maharashtra, India |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02614176 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U32106MH1983PTC029136 |
SEMIKRON
ELECTRONICS PRIVATE LIMITED |
Alternate
director |
18-03-13 |
01-04-09 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Semikron International GMBH, Germany |
169799 |
|
K P Kamath |
1 |
|
TOTAL
|
169800 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Semi- Conductor devices and Power
Electronics Solutions |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kiran Mehta and Company Chartered Accountant |
|
Address : |
65, Mahatma Gandhi Road, Flora Fountain, Fort, Mumbai-400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22677062 / 22675140 |
|
Fax No.: |
91-22-22641135 |
|
E-Mail : |
|
|
PAN No.: |
AAAFK3940M |
|
|
|
|
Promoter Group : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000 |
Equity Shares |
Rs.100/- each |
Rs. 17.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
169800 |
Equity Shares |
Rs.100/-
each |
Rs. 16.980
Millions |
|
|
|
|
|
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 |
16.980 |
16.980 |
16.980 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
476.403 |
346.796 |
251.673 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
493.383 |
363.776 |
268.653 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
191.636 |
131.733 |
91.722 |
|
|
TOTAL BORROWING |
191.636 |
131.733 |
91.722 |
|
|
DEFERRED TAX LIABILITIES |
2.782 |
2.406 |
1.562 |
|
|
|
|
|
|
|
|
TOTAL |
687.801 |
497.915 |
361.937 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
99.745 |
99.300 |
96.380 |
|
|
Capital work-in-progress |
52.379 |
22.592 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
191.303
|
157.066 |
118.787 |
|
|
Sundry Debtors |
267.785
|
243.653 |
200.560 |
|
|
Cash & Bank Balances |
163.870
|
109.032 |
80.737 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
17.796
|
19.736 |
20.444 |
|
Total
Current Assets |
640.754
|
529.487 |
420.528 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
86.630
|
142.311 |
146.684 |
|
|
Other Current Liabilities |
8.024
|
6.235 |
0.701 |
|
|
Provisions |
10.423
|
4.918 |
7.586 |
|
Total
Current Liabilities |
105.077
|
153.464 |
154.971 |
|
|
Net Current Assets |
535.677
|
376.023 |
265.557 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
687.801 |
497.915 |
361.937 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1147.804 |
1128.991 |
816.833 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
941.175 |
972.376 |
720.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
206.629 |
156.615 |
96.344 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.833 |
5.044 |
1.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
203.796 |
151.571 |
95.117 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.145 |
8.928 |
6.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
192.651 |
142.643 |
88.330 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
62.500 |
46.500 |
28.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
130.151 |
96.143 |
59.730 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
766.50 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
11.34
|
8.52 |
7.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.02
|
22.69 |
17.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.39 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39
|
0.36 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.10
|
3.45 |
2.71 |
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 |
No |
|
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Deferred Payment Liabilities |
11.636 |
11.733 |
|
Loans and Advances from Related Parties |
180.000 |
120.000 |
|
|
|
|
|
TOTAL |
191.636 |
131.733 |
NOTE
Registered office has been shifted from EL 87, TTC Industrial Area,
Mahpe, Navi Mumbai- 400701, Maharashtra, India to the present address w.e.f.
02.01.2013
MANAGEMENT
DISCUSSION AND ANALYSIS
The Financial Year
2011-2012 has been a year of consolidation. In this backdrop the company has
been able to maintain its Revenue and customers and the year was a satisfying
year in terms of achievement of profit as compared to previous years.
They intend to
sustain the long term growth of their businesses through technological
innovation and a commitment to delivering high quality products and services to
customers. The company expects to face new challenges of increasing raw
material prices and expected slow down by continuing to focus on technological
advancement and core competency of the company.
The Construction
of the factory at the New Land is almost complete and new unit will be
functional during 2012-13. They would like to inform that the new unit will add
further capacity and would enhance the production capacity and efficiency of
the Stack Business of the company.
FIXED ASSETS
- Plant and
Machinery
- Tools and
Jigs
- Xerox Machine
- Refrigerator
- Process Table
and Racks
- Process Water
Tank and Pipe
- Trainer
Overhead Project
- Electrical
installation
- Fax Machine
- EPABX Systems
- Office
Equipments
- Computer
- Pager and
Mobile
- Air
Conditioner
- Moulds and
Dies
- Typewriter
- Cycle
- Motor Car
- Motor Cycle
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. 56.09 |
|
|
1 |
Rs. 85.13 |
|
Euro |
1 |
Rs. 72.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.