MIRA INFORM REPORT

 

 

Report Date :

12.09.2013

 

IDENTIFICATION DETAILS

 

Name :

SAMTEL COLOR LIMITED

 

 

Registered Office :

501, 5th Floor, Copia Corporate Suits, Plot No 9, District Centre - Jasola, New Delhi – 110025

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

15.05.1986

 

 

Com. Reg. No.:

55-24222

 

 

Capital Investment / Paid-up Capital :

Rs.1162.884 Millions

 

 

CIN No.:

[Company Identification No.]

L51909DL1986PLC024222

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELS08933B

DELS21950F

 

 

PAN No.:

[Permanent Account No.]

AAACS6589D

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.

 

 

Line of Business :

Manufacturers of Color Picture Tubes for Color Televisions, Color Electron Guns and Deflection Yoke

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (12)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

There appears accumulated loss recorded by the company.

 

However, trade relations are fair. Business is active. Payment terms are slow.

 

The company can be considered for Business dealing on a safe and secured trade terms and condition.

 

Even though the listing of share have been approved by Broad of Director on June 19, 2013,  shares are still traded in stock exchange.

 

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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

 

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

 

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

 

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

 

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 :

501, 5th Floor, Copia Corporate Suits, Plot No 9, District Centre - Jasola, New Delhi – 110025

Tel. No.:

91-11-42424000

Fax No.:

Not Available

E-Mail :

sandeeptandan@samtelgroup.com  

sunilkumargupta@samtelgroup.com

prabhatnanda@samtelgroup.com

Website :

http://www.samtelgroup.com

http://www.samtelmonitors.com

 

 

Administrative Office :

52, Community Centre, New Friends Colony, New Delhi – 110 065, India

Tel. No.:

91-11-26842791/ 26845410 / 26832886 / 26832151 / 2674687

Fax No.:

91-11-26837534 / 2674504

 

 

Manufacturing Unit:

Colour Picture Tube Works

 

  1. Village Chhaprula, Tehsil Dadri Bullandshahar Road, District Ghaziabad (Now in District Goutam Budh Nagar), Uttar Pradesh, India

            Tel. 91-120-2674512 /13/14/15/16/17/18

            Fax. 91-120-2674504

 

  1. Plot No. 2, Village Chhaprula, Bisrakh Road, Greater Noida Industrial Development Area, District Goutam Budh Nagar – 201 009, Uttar Pradesh, India

 

  1. Village Naya Nohra, Kota – Baran Road, Kota, Rajasthan, India

 

Colour Electron Gun Division

 

            C-1/1, 2, 3, Sector - XXII, Industrial Area, Meerut Road, 

            District Ghaziabad - 201003, Uttar Pradesh, India

            Tel. 91-120-2788202 to 2788208

            Fax. 91-120-2788200

 

Black and White Gun and Deflection Yoke

 

            Plot No. 6, Industrial Area, Sector -2, Parwanoo - 173 220,   

            District Solan Himachal Pradesh, India

            Tel. 91-1792-233411/684/233050/233556

            Fax. 91-1792-233680

 

 

DIRECTORS

 

As on 31.03.2012

 

Name :

Mr. Satish K. Kaura

Designation :

Chairman and Managing Director

Address :

52, Community Centre, New Friends Colony, New Delhi – 110065, India

Qualification:

M. Tech., Carleton University, Canada

Date of Joining:

27th February, 1989

Previous Employment:

Samtel India Limited – Managing Director

Tel. No.:

91-26845411 / 26842791

Email :

skkaura@samtelgroup.com

 

 

Name :

Mr. S. P. Gugnani

Designation :

Director

 

 

Name :

Mr. N. K. Sehgal

Designation :

Director

 

 

Name :

Mr. Alok Singh (ICICI Bank Nominee)

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Prabhat Kumar Nanda

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.06.2013

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

733838

0.86

http://www.bseindia.com/include/images/clear.gifBodies Corporate

23941852

28.00

http://www.bseindia.com/include/images/clear.gifSub Total

24675690

28.86

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

24675690

28.86

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

6500

0.01

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

29844076

34.91

http://www.bseindia.com/include/images/clear.gifInsurance Companies

1245319

1.46

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

104900

0.12

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

6380203

7.46

http://www.bseindia.com/include/images/clear.gifNon Resident Individuals / Foreign Individuals

5956238

6.97

http://www.bseindia.com/include/images/clear.gifCorporate Body Others

423965

0.50

http://www.bseindia.com/include/images/clear.gifSub Total

37580998

43.96

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

4578905

5.36

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

11965791

14.00

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

6691213

7.83

http://www.bseindia.com/include/images/clear.gifSub Total

23235909

27.18

Total Public shareholding (B)

60816907

71.14

Total (A)+(B)

85492597

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

85492597

0.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers of Color Picture Tubes for Color Televisions, Color Electron Guns and Deflection Yoke

 

 

Products :

Products Description

Item Code No.

 

Colour TV Picture Tube

8540.11

Electron Gun for Colour Picture Tube

8540.90

Deflection Yoke for Colour Picture Tube

8540.91

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

Unit

 

Installed Capacity

Actual Production

 

 

 

 

Color Picture Tubes

Nos.

76,00,000

28,58,063

Color Electron Guns

Nos.

120,00,000

30,80,213

Deflection Yokes

Nos.

80,40,000

18,05,277

 

NOTE:-

Installed capacity is annualized and is stated as certified by the management and accepted by the auditors being a technical matter.

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

Not Available

 

 

Bankers :

·         ICICI Bank Limited

·         Punjab National Bank

·         State Bank of India

·         Yes Bank Limited

·         Canara Bank

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2012

As on

31.03.2011

LONG-TERM BORROWINGS

 

 

Bonds / Debentures

 

 

Zero Coupon Bond

(Redeemable at premium of 150% in 2016-17 and in 2017-18)

105.501

105.501

Zero Coupon Bond

(Redeemable at par Rs.48.463 Millions in 2011-12)

48.463

48.463

Term Loans

From Banks

2369.575

2510.616

Others - from LIC of India

49.472

49.472

 

 

 

Long-term maturity of finance lease obligation

--

0.056

 

 

 

Less: Current portion of long term borrowings

 

 

Current maturities

(338.701)

(853.122)

Overdue maturities

(689.064)

(85.365)

SHORT-TERM BORROWINGS

 

 

loans repayable on demand From Banks

1402.321

1297.554

Total

2947.567

3073.175

 

A The Zero Coupon Bond, Term Loan from Bank and Financial Institution amounting to Rs.2534.737 Millions (Previous year Rs.2675.457 Millions) are Secured as under:-

                                 I.            Hypothecation charge is created / to be created over current and moveable assets and first charge over immoveable properties, by way of deposit title deeds of the immoveable properties (both present and future) of the Company on pari- passu basis in favour of 3i 'Infotech Trusteeship Services Limited (Security Trustee of CDR Lenders) pursuant to Corporate Debt Restructuring (CDR) scheme.

                               II.            Personal Guarantee of Mr. Satish K. Kaura, Chairman and Managing Director.

                              III.            Pledge of 22677186 nos. (Previous year 19233526 nos.) equity shares of Samtel Color Limited held by promoter Companies with 3i Infotech Trusteeship Services Limited (Security Trustee on behalf of CDR Lenders).

                            IV.            Pledge 15,00,000 (Previous year 15,00,000) shares of Samtel Glass Limited with 3i Infotech Trusteeship Services Limited (Security Trustee on behalf of CDR Lenders) pending creation of security on the Kota leasehold land.

 

B Rupee Loan from ICICI Bank Limited towards Research and Development projects secured by way of exclusive charge on the specific assets used for the said projects for Rs.23.234 Millions (Previous year Rs.25.468 Millions) and personal guarantee of Mr. Satish K. Kaura, chairman and managing director of the Company.

 

C Foreign Currency Loan from Rabo Bank Limited secured by way of first pari-passu charge created on immoveable assets of the Company situated at Plot no. 2, Greater Noida Industrial Area, Gautam Budha Nagar, U.P. for Rs.15.040 Millions (Previous year Rs.13.127 Millions).

 

D Vehicle loan of Rs. Nil (Previous year Rs.5.600 Million) Secured by hypothecation of specific vehicles.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. S. Kothari Mehta and Company

Chartered Accountants

Address :

New Delhi, India

 

 

Associates :

Samtel Glass Limited, Kota

 

 

Subsidiaries

·         Paramount Capfin Lease Private Limited

6th Floor, 7 TDI Centre, Distt. Centre, Jasola, New Delhi - 110025

 

·         Blue Bell Trade Links Private Limited

6th Floor, 7 TDI Centre, Distt. Centre, Jasola, New Delhi - 110025

 

 

Other Related Parties :

·         Samtel India Limited

·         Samtel - HAL Display Systems Limited

·         Samtel Thales Avionics Limited

·         Samtel Machines and Projects Limited (Formerly Teletube Electronics Limited)

·         Samtel Electron Devices, GMBH

·         International Electron Devices Limited

·         Samtel Display Systems Limited

·         Lenient Consultants Private Limited

·         CEA Consultants Private Limited.

·         SW Consultants Private Limited

·         Tish Consultants Private Limited

·         Kaura Properties Private Limited

·         Kaura Investment Private Limited

·         Palka Investments Private Limited (Subsidiary of Samtel Glass Limited)

·         Swaka Consultants Limited

·         Punswat Consultants Limited

·         Dolsun Containers Private Limited

·         Fame Mercantile Private Limited

·         Navketan Mercantile Private Limited

·         Sakshi Kaura Designs Private Limited

·         Akla Investments Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2012

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

124990000

Equity Shares

Rs.10/- each

Rs.1249.900 Millions

5001000

Redeemable Preference Shares

Rs.100/- each

Rs.500.100 Millions

 

 

 

 

 

Total

 

Rs.1750.000 Millions

 

Issued Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

85498597

Equity Shares

Rs.10/- each

Rs.854.986 Millions

2110116

Non Convertible Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.211.012 Millions

969163

Non Convertible Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.96.916 Millions

 

 

 

 

 

Total

 

Rs.1162.914 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

85492597 *

Equity Shares

Rs.10/- each

Rs.854.926 Millions

6000

Add : Forfeited equity shares pending reissue

 

Rs.5/- each

Rs.0.030 Million

2110116

8 % Non Convertible Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.211.012 Millions

969163

0% Non Convertible Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.96.916 Millions

 

 

 

 

 

Total

 

Rs.1162.884 Millions

 

* Of the above, 8,94,000 (Previous Year 8,94,000) Equity Shares of Rs.10 each are held by Paramount Capfin Lease Private Limited, a Subsidiary Company.

 

a) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period:

Particular

No. of Shares

i)    Equity Shares

 

Outstanding at the beginning of the year (including forfeited shares)

85,498,597

Add: Issued during the year

-

Less: Shares bought back

-

Outstanding at the end of year

85,498,597

 

Particular

No. of Shares

ii)   Preference Shares

8% Non convertible cumulative preference shares

 

Outstanding at the beginning of the year

2,110,116

Add: Issued during the year

-

Less: Shares bought back

-

Outstanding at the end of year

2,110,116

0% Non convertible cumulative preference shares

 

Outstanding at the beginning of the year

969,163

Add: Issued during the year

-

Less: Shares bought back

-

Outstanding at the end of year

969,163

 

b)   Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having a par value of Rs.10 per share. Each Shareholder is eligible for one vote per share held. The Company declares dividends in Indian rupees. In case the dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive in proportion to their shareholding, the assets of the Company remaining after distribution of preferential amount.

 

The Company has one class of 8% Non Convertible Cumulative Redeemable Preference shares having a par value of Rs.100 per share. Each Shareholder (subject to section 87 of the Companies Act 1956 and CDR Scheme) is eligible for one vote per share held on resolution placed before the Company which directly affect the rights attached to his preference shares, entitled to preferential dividend at a fixed rate. In the event of liquidation, the preferential shareholders are eligible to receive the remaining assets of the Company in proportion to their class of shareholding. This shares are redeemable in quarterly installments commencing from June 2017 at a value of Rs.52.751 Millions each.

 

The Company has one class of 0% Non Convertible Cumulative Redeemable Preference shares having a par value of Rs.100 per share. Each Shareholder (subject to section 87 of the Companies Act 1956 and CDR scheme) is eligible for one vote per share held on resolution placed before the company which directly affect the rights attached to his preference shares. In the event of liquidation, the preferential shareholders are eligible to receive the remaining assets of the Company in proportion to their class of shareholding. Among these, shares amounting to Rs.6.002 Millions were due for redemption at par in June 2011 and amounting to Rs.90.914 Millions were due for redemption in September 2011 at par.

 

c)   Details of shares held by shareholders holding more than 5 % of the aggregate shares in the Company

Equity Shares :

Name of the Shareholders

No. of

Shares

% holding

 

 

 

ICICI Bank Limited

12,417,295

14.52%

Punjab National Bank

6,714,777

7.85%

Export Import Bank of India

4,831,615

5.65%

Samtel India Limited

5,922,900

6.93%

Teletube Electronics Limited

9,018,006

10.55%

 

 

LISTING DETAILS

 

Subject Stock Code :

 

BSE : 500372 

 

NSE : SAMTELEQ 

 

Stock Exchange Place :

·         Bangalore Stock Exchange Limited

·         Calcutta Stock Exchange Association Limited

·         Cochin Stock Exchange Limited

·         Delhi Stock Exchange Assoc. Limited

·         Hyderabad Stock Exchange Limited

·         Madras Stock Exchange Limited

·         National Stock Exchange of India Limited

·         The Stock Exchange, Mumbai

·         Uttar Pradesh Exchange Assoc Limited

 

Listing Date :

23.02.2005

ISIN No.:

INE381A01016

Face Value :

Rs.10/- each

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

1162.884

1162.884

(b) Reserves & Surplus

 

(2000.752)

417.016

(c) Money received against share warrants

 

300.000

300.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

(537.868)

1879.900

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

1714.834

1969.100

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

125.257

172.378

Total Non-current Liabilities (3)

 

1840.091

2141.478

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

1451.729

1349.224

(b) Trade payables

 

505.466

541.725

(c) Other current liabilities

 

2323.567

1507.809

(d) Short-term provisions

 

22.478

14.264

Total Current Liabilities (4)

 

4303.240

3413.022

 

 

 

 

TOTAL

 

5605.463

7434.400

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

4925.232

6040.713

(ii) Intangible Assets

 

1.306

3.673

(iii) Capital work-in-progress

 

0.000

2.369

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

231.751

330.099

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

45.166

45.861

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

5203.455

6422.715

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

185.207

535.209

(c) Trade receivables

 

25.808

260.677

(d) Cash and cash equivalents

 

30.304

32.759

(e) Short-term loans and advances

 

158.383

178.348

(f) Other current assets

 

2.306

4.692

Total Current Assets

 

402.008

1011.685

 

 

 

 

TOTAL

 

5605.463

7434.400

 

 

SOURCES OF FUNDS

 

 

 

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

843.866

2] Advance Subscription

 

 

564.172

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

1111.116

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

2519.154

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

3609.460

2] Unsecured Loans

 

 

257.550

TOTAL BORROWING

 

 

3867.010

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

6386.164

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

6974.132

Capital work-in-progress

 

 

1.217

 

 

 

 

INVESTMENT

 

 

330.099

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

899.348

 

Sundry Debtors
 

 

829.312

 

Cash & Bank Balances
 

 

48.748

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

292.893

Total Current Assets
 

 

2070.301

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
 

 

1534.423

 

Other Current Liabilities
 

 

1280.457

 

Provisions
 

 
174.705

Total Current Liabilities
 

 

2989.585

Net Current Assets
 

 

(919.284)

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

6386.164

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Income

3694.898

9049.866

11142.860

 

 

Other Income

32.573

98.987

837.108

 

 

TOTAL                                     (A)

3727.471

9148.853

11979.968

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

2673.948

6289.626

 

 

Changes in Inventories of Finished Goods, Work-in-Process and Stock-in-Trade

93.962

140.837

10270.566

 

 

Employee Benefit Expenses

814.042

1010.135

 

 

 

Exceptional Items

437.919

247.153

 

 

 

Manufacturing and Other Expenses

907.658

1328.983

 

 

 

TOTAL                                     (B)

4927.529

9016.734

10270.566

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

(1200.058)

132.119

1709.402

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

491.574

277.585

315.530

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

(1691.632)

(145.466)

1393.872

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

733.043

687.646

628.887

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                 (G)

(2424.675)

(833.112)

764.985

 

 

 

 

 

Less

TAX                                                                  (H)

0.000

6.142

0.388

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

(2424.675)

(839.254)

764.597

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(284.082)

18.980

(745.617)

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.000

(536.192)

0.000

 

BALANCE CARRIED TO THE B/S

(2708.757)

(284.082)

18.980

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports

89.265

88.944

106.664

 

TOTAL EARNINGS

89.265

88.944

106.664

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials and Components

739.818

2273.940

2645.110

 

 

Stores & Spares

15.463

37.376

44.646

 

TOTAL IMPORTS

755.281

2311.316

2689.756

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

 

 - Basic

(29.27)

(11.43)

8.53

 

 - Diluted

(29.27)

(11.43)

7.46

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2012

30.09.2012

31.12.2012

Type

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

137.900

283.800

245.100

Total Expenditure

388.500

497.500

390.100

PBIDT (Excl OI)

(250.600)

(213.700)

(145.000)

Other Income

0.600

0.900

34.900

Operating Profit

(250.000)

(212.800)

(110.100)

Interest

141.100

134.900

147.500

Exceptional Items

0.000

0.000

0.000

PBDT

(391.100)

(347.700)

(257.600)

Depreciation

175.200

177.100

177.100

Profit Before Tax

(566.300)

(524.800)

(434.700)

Tax

0.000

0.000

0.000

Provisions and contingencies

0.000

0.000

0.000

Profit After Tax

(566.300)

(524.800)

(434.700)

Extraordinary Items

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

Net Profit

(566.300)

(524.800)

(434.700)

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
(65.05)

(9.17)
6.38

 

 
 

 
 

Net Profit Margin

(PBT/Sales)

(%)
(65.62)

(9.21)
6.87

 

 
 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)
(45.12)

(11.73)
8.46

 

 
 

 
 

Return on Investment (ROI)

(PBT/Networth)

 
(4.51)

(4.43)
0.30

 

 
 

 
 

Debt Equity Ratio

(Total Debt /Networth)

 
(5.89)

1.77
1.54

 

 
 

 
 

Current Ratio

(Current Asset/Current Liability)

 
0.09

0.30
0.69

 

 

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

No

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

Yes

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

 

LITIGATIONS DETAILS 

 

IN THE HIGH COURT OF DELHI AT NEW DELHI

#29
  
CS(OS) 315 of 2013 and I.A. No. 2735 of 2013

  
CG-PPI ADHESIVE PRODUCTS LIMITED. ..... Plaintiff

Through: Mr. Sanjeev Sagar, Advocate.

 

versus
M/S SAMTEL COLOR LIMITED. ..... Defendant

Through: Ms. Mitali Arora, proxy counsel for

 

Mr. Sanjay S. Chhabra, Advocate.

CORAM: JUSTICE S. MURALIDHAR

 

ORDER

11.07.2013

 

1. Counsel for the parties are agreeable to explore the possibility of settlement through mediation. Accordingly, the parties will appear before the Delhi High Court Mediation and Conciliation Centre (DHCMCC) on 12th August 2010 at 3.30 pm. The report of mediation be placed on record by the next date of hearing.


2. In the event that the mediation is unsuccessful, the Defendant will file written statement one week prior to the next date.

 

3. List on 26th September 2013. A copy of this order be sent to the Secretary, DHCMCC forthwith.


S. MURALIDHAR, J

JULY 11, 2013

 

 

Note:

The registered office of the company has been shifted from 6th Floor, 7, TDI Centre, District Centre, Jasola, New Delhi – 110 025, India to present address

 

 

UNSECURED LOANS

Rs. In Millions

Particulars

31.03.2012

31.03.2011

 

Long-term borrowings

 

 

Term Loans

 

 

From Banks

5.934

10.359

Others*

(* Includes loan taken from Centre for Scientific and Industrial Research (CSIR) Rs.202.800 Millions)

202.800

209.378

Loans and advances from related parties

28.678

28.678

Less: Current portion of long term borrowings

 

 

Current maturities

(20.630)

(34.306)

Overdue maturities

(47.194)

(20.630)

SHORT-TERM BORROWINGS

 

 

Loans repayable on demand

 

 

From Banks

 

 

Others - Clean bills payable

49.408

51.670

TOTAL

218.996

245.149

 

E Terms of Repayment of unsecured loan, defaults in repayment of loan amount, interest and rate of interest thereon :

The loans amounting to Rs.49.408 Millions (previous year Rs. Nil) were due for payment upto 2011-12. The rate of interest is 12%. The amount of interest due upto 31.3.2012 but not paid is Rs.3.384 Millions (previous year Rs. Nil)

 

 

OVERVIEW

 

The Company having its registered office at 6th floor, 7 TDI Centre, District Centre – Jasola, New Delhi – 110 025 is engaged in the business of manufacturing of Color Picture Tubes for Color Televisions, Color Electron Guns and Deflection Yoke in its manufacturing facilities located at Ghaziabad, District Gautam Budh Nagar – Uttar Pradesh, Kota – Rajasthan and Parwanoo – Himachal Pradesh

 

 

OPERATIONS

 

The market for color picture tube based television sets is in decline across the Globe. However, the process of decline is slow in the market of Latin America, South Africa and South Asia. However, despite a reasonable demand for color picture tube based televisions in South East Asia including India, the year was subdued for the Company.

 

The demand for CPT in the year 2011 was around 40 millions, majority of which were from South East Asian countries. However, from the period beginning October, 2010, the Company’s volume and margins have declined sharply due to surge in imports and the pricing mechanism adopted by the importers to circumvent the imposition of anti dumping duty (ADD), thereby affecting the average realization and margins of the CPT industry in India. This has considerably impacted the market share of the Company.

 

In addition to the above, the sudden change of policy of the Chinese Government with regard to mining and export of certain rare earth minerals have increased the price of the materials by almost 10 times. The CPT manufacturers use red phosphor, one of the rare earth materials, in coating of the screen.

 

Both the above factors have not only adversely impacted the volume and margins of the Company, but also choked the liquidity forcing the Company to scale down its operations considerably during the year resulting in lower capacity utilization. Currently, the Company has declared lay off in some of its Units. Other units of the Company are functioning with scaled down capacity.

 

The sales volume of the Company declined from 7.65 million numbers to 2.86 million during the year. The sales in terms of value declined by 59% from Rs.10000.100 Millions in 2010- 11 to Rs 4081.400 Millions in 2011-12.

 

·         Developed and lunched a low cost variant of the 21" ultra slim variant CPT. This will help the Company to capture the domestic market for this product.

·         Successful in reducing the consumption of Red Phosphors thereby reducing the raw material cost.

·         Phasing out of low volume and low margin variants such as 15" and 20" CPTs.

·         Realignment/Impairment/re-sizing and efficient utilization of the production facilities and work force.

 

 

OUTLOOK

 

The market for CPTs globally is on a decline. Demand for CPT worldwide is expected to remain at around 30 millions in number in the year 2012-13 as compared to 40 millions in number in the year 2011-12.

 

The demand in India in the year 2012-13 and over next few years is expected to remain at around 12/13 millions units per annum.

 

There are indications of slowing down of import of cheap picture tubes to India from across the world as some of the major picture tubes manufacturers have closed down their operations. Further, the non parity of US Dollar and Indian Rupee is making the import more expensive. These factors to some extent would have a positive impact on the operations/performance of the Company in years to come as the dependence of CPT manufacturers on imported units will decline, giving an opportunity to the Company to ramp up its volume as well as margins.

 

Further, to come out of the difficult situation and to sustain operations increase the volume and market share, the Company has initiated several steps including cost cutting measures. Some of the measures, effect of which is expected to have a positive impact on the overall performance of the Company in the next few years is as under:



MANAGEMENT DISCUSSION AND ANALYSIS 

 

MARKET AND OUTLOOK

 

Globally there has been decline in the market for Color Picture Tube (CPT) based television sets. However, the decline has been less pronounced for CPT based televisions, in the market of Latin America, South Africa and South Asia despite invent and availability of other technology. In India, alone it is expected that the demand of CPT based televisions will decline below 12/13 million in Nos. per annum during the next few years.

 

Even though the demand in India persists, the domestic players failed to dominate the market and increase their market share as there was a surge in import of cheap Color Picture Tubes from South East Asia. This coupled with higher raw material cost severely impacted the domestic color picture tube industry including Company.

 

With the drying up of cheap source of picture tubes from across the world and non parity of US Dollar and Indian Rupee making import much more expensive, the scope of Indian manufacturers of Color Picture Tubes has brightened to some extent.

 

In order to come out of the difficult situation and explore the current opportunity, the Management of the Company is working on various options and some of the steps which would have an effect on the overall performance of the Company and initiated are as under:

 

·         Developed and lunched a low cost variant of the 21" ultra slim variant CPT. This will help the Company to capture the domestic market for this product.

·         Successful in reducing the consumption of Red Phosphors thereby reducing the raw material cost.

·         Phasing out of low volume and low margin variants such as 15" and 20" CPTs.

·         Realignment/Impairment/re-sizing and efficient utilization of the production facilities and workforce

 

The Company and sustain the production, the Company requires infusion of funds/working capital. The Management is working in this regard in consultation with ICICI Bank, the Monitoring Agency for CDR and all other CDR Lenders. The Company is quite confident that with the infusion of requisite working capital for which negotiations and discussions are being held with prospective investors/bankers, the re-sized operations of the Company can be sustained with reasonable margins and profitability.

 

 

FINANCIAL AND OPERATIONAL RESULTS

 

During the year the Company achieved production of 2.86 million color picture tubes as compared to 7.65 million color picture tubes of the previous financial year registering a decline of approximately 63%. This was mainly due to a surge in imports of color picture tubes from South East Asian countries, despite anti-dumping measures and inability of the Company to ramp up its production due to severe liquidity problem.

 

The above factors have severely impacted the operations and profitability of the Company during the financial year. The Company ended the financial year 2012 with a Cash Loss (PBDT) of Rs.1691.700 Millions (Previous year Rs.145.500 Millions). However, post extra-ordinary item, the Company registered loss of Rs.2424.700 Millions as against loss of Rs.839.300 Millions of the previous financial year.

 

The Company is restructuring/realigning/re-sizing its manufacturing operations including impairment of some of the production facilities to reduce costs by increasing efficiencies, rationalization of manpower and other costs. Efforts continue on development of low cost variants of medium and small size slim color picture tubes.

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST DECEMBER, 2012

Rs. In Millions

 

 

Quarter Ended

Nine Months Period Ended

 

Particulars

31-12-2012 Unaudited

30-09-2012 Unaudited

31-12-2012 Unaudited

1

Income from Operations

 

 

 

 

(a) Net Sales / Income from Operations

244.700

280.800

662.400

 

(b) Other Operating Income

0.400

3.000

4.300

2

Expenses

 

 

 

 

a.   Cost of Materials Consumed

130.400

270.900

618.400

 

b.  Purchases of Stock in Trade

 

 

 

 

c.   Changes In Inventories (lncrease)/Decrease of Finished Goods, Work in Progress and Stock in Trade

97.100

(13.600)

(13.500)

 

d.   Employee Benefits Expense

110.200

148.100

407.800

 

e.   Depreciation Expense

177.100

177.100

529.400

 

f.   Other Expenses

52.400

92.100

254.000

 

g.  Total Expenses

567.200

674.600

1796.100

3

Profit (+)/Loss (-) from Operations before Other Income, Finance Cost and Exceptional Items (1 - 2)

(322.100)

(390.800)

(1129.400)

4

Other Income

34.900

0.900

37.400

5

Profit (+)/Loss (-) before Finance Cost and Exceptional Items (3 + 4)

(287.200)

(389.900)

(1092.000)

6

Finance Costs (Net)

147.500

134.900

434.000

7 8

Profit (+)loss (-) after Finance Cost but before Exceptional Item (5 - 6)

(434.700)

(524.800)

(1526.000)

8

Exceptional Items

--

--

--

9

Profit (+)/Loss (-) from Ordinary Activities before tax (7+ 8)

(434.700)

(524.800)

(1526.000)

10

Tax expense of earlier years

 

 

 

11

Net Profit (+) / Loss (-) from Ordinary Activities after tax (9 -10)

(434.700)

(524.800)

(1526.000)

12

Extraordinary items

 

 

 

13

Net Profit (+)/Loss (-) for the period (11-12)

(434.700)

(524.800)

(1526.000)

14

Paid-up Equity Share Capital (Face value Rs.10 each share)

855.000

855.000

855.000

15

Reserves (excluding revaluation reserves as per balance sheet of previous accounting year)

 

 

 

16

Earnings Per Share before and after Extraordinary items

 

 

 

 

Basic Earnings / (loss) Per Share (not annualized)

(6.27)

(7.33)

(19.04)

 

Diluted Earnings / (loss) Per Share (not annuallsed)

(6.27)

(7.33)

(19.04)

 

PART II

 

 

 

A

PARTICULARS OF SHAREHOLDING

 

 

 

1

Public Shareholding

 

 

 

 

-   Number of Shares

60,816,907

60,816,907

60,816,907

 

-   Percentage of Shareholding

71.14

71.14

71.14

2

Promoters and Promoter Group Shareholding

 

 

 

 

a.  Pledged / Encumbered

 

 

 

 

-   Number of Shares

24,477,186

24,477,186

24,477,186

 

-   Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

99.20

99.20

99.20

 

-   Percentage of Shares (as a % of the total share capital of the Company)

28.63

28.63

28.63

 

b.   Non- encumbered

 

 

 

 

-   Number of Shares

198,504

198,504

198,504

 

-   Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

0.80

0.80

0.80

 

-   Percentage of Shares (as a % of the total share capital of the Company)

0.23

0.23

0.23

 

 

 

 

 

B

INVESTOR COMPLAINTS

 

 

 

 

Pending at the beginning of the quarter

Nil

 

 

 

Received during the quarter

Nil

 

 

 

Disposed off during the quarter

Nil

 

 

 

Remaining unresolved at the end of the quarter

Nil

 

 

 

 

Notes:

1 The above financial results were reviewed and recommended by the Audit Committee of Directors and approved by the Board of Directors in their respective meetings held on February 15, 2013.

 

2 The performance of the Company in the last few quarters has been impacted due to liquidity constraints resulting from lower sales volume in the domestic and international market During the quarter, operations at all the locations have been suspended due to severe financial constraints. However, other income includes income from service activity. The Company is in discussion with lenders on a business revival plan. Accordingly the Company's financial statements have been prepared on a going concern basis whereby realization of assets and discharge of liabilities are expected to occur in the normal course of business.

 

3 Response to Auditor's comments In the report on the audited financial statements as at March 31,2012:

a.       The Company is taking necessary steps to streamline the operations of manufacturing facilities. Thus, the Company is confident of running the operations as "Going Concern" in foreseeable future.

b.       The Company has impaired the plant and machinery and its related stores and spares of some of its manufacturing facilities on the basis of applicable accounting standard,

c.       The Company will obtain the balance confirmation and reconciliation thereof from creditors in due course.

d.       During the previous quarter, the Company made a reference under section 15(1) of the Sick Industrial Company (Special Provisions) Act, 1985 (SICA) with Board of Industrial and Financial Reconstruction (BIFR). The aforesaid reference has been registered in the BIFR as case no. 58/2012.

e.       During part of the previous year, the fixed assets of the Company were not verified by the management but it is hopeful to complete the verification process of fixed assets in phased manner. The management does not expect any major discrepancy,

f.         The physical verification of inventory was done on June 30, 2012 and no material descripancies were observed. However, it is proposed to conduct physical verification of inventory on quarterly basis.

 

4 Response to Auditor's comments In the report on the limited review financial statements as at September 30, 2012:

 

In respect of impairement of manufacturing facilities tor Color Picture Tube at lines 2 and 3 located at Distl Gautam Budh Nagar - U.P. and Deflection Yoke unit loaded at Parwanoo - H.P, the Company is in process of valuation of plant and machinery from the independent approved valuer.

 

5 The Company is engaged in the business of TV Picture Tubes and Paris and there are no separate reportable segments as per AS -17 on Segment reporting.

 

6 Previous year/period figures have been regrouped/recast wherever necessary, to conform to the current period's classification.

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

 

Charge Holder

Address

Service Request Number (SRN)

1

10126765

04/10/2012 *

5,957,900,000.00

3I INFOTECH TRUSTEESHIP SERVICES LIMITED

3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA

B60069002

2

10044723

08/03/2007

100,000,000.00

UTI BANK LIMITED

GROUND FLOOR, STATESMEN HOUSE, 148, BARAKHAMBA ROAD, DELHI - 110001, INDIA

A13314810

3

10030665

12/12/2006

250,000,000.00

PUNJAB NATIONAL BANK

ECE HOUSE,, 28, KASTURBA GHANDHI MARG,, NEW DELHI, DELHI - 110001, INDIA

A08611287

4

10031780

12/12/2006

863,600,000.00

PUNJAB NATIONAL BANK

ECE HOUSE,, 28, KASTURBA GHANDHI MARG,, NEW DELHI, DELHI - 110001, INDIA

A09166083

5

10017370

04/08/2006

250,000,000.00

LIFE INSURANCE CORPORATION OF INDIA

YOGAKESHAMA. JEEVAN BIMA MARG, MUMBAI, MAHARASHTRA - 400021, INDIA

A03608213

6

10000471

27/02/2006

100,000,000.00

CANARA BANK

WORLD TRADE TOWER, BARAKHAMBA LANE, NEW DELHI, DELHI - 110001, INDIA

A00169755

7

80009196

17/07/2006 *

2,747,100,000.00

PUNJAB NATIONAL BANK

ECE HOUSE,, K G MARG, NEW DELHI, DELHI - 110001, INDIA

-

8

80000196

27/02/2006 *

200,000,000.00

JAMMU AND KASHMIR BANK LIMITED

FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

-

9

90044815

26/07/2006 *

200,000,000.00

LORD KRISHNA BANK LIMITED (LKB)

5, SOM DUTT CHAMBER, SECTOR 18,, NOIDA, UTTAR PRADESH - 201301, INDIA

-

10

90044805

05/07/2005

300,000,000.00

UNION BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, M-11; I-FLOOR; CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA

-

11

90044784

13/11/2006 *

400,000,000.00

EXPORT - IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

12

90044778

28/12/2006 *

300,000,000.00

UTI BANK LIMITED

STATESMAN BUILDING, 148, BARAKHAMABA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

13

90063408

08/03/2005

150,000,000.00

CANARA BANK

INDUSTRIAL FINANCE BRANCH, WORLD TRADE CENTRE; BARAKHMBA LANE, NEW DELHI, DELHI - 110001, INDIA

-

14

90063380

13/11/2006 *

200,000,000.00

EXPORT - IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

15

90063163

11/03/2005 *

250,000,000.00

UTI BANK LIMITED.

STATESMAN BUILDING, 148; BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

16

90063071

15/02/2005 *

200,000,000.00

ABN AMRO BANK

74; SAKHAR BHAVAN ;7; FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

17

90044086

19/02/1994 *

626,000,000.00

PUNJAB NATIONAL BANK

HDFC HOUSE, 28; K.G. MARG, NEW DELHI, DELHI - 110001, INDIA

-

18

90043954

28/10/2003

150,000,000.00

CANARA BANK

INDUSTRIAL FINANCE BRANCH, WORLD TRADE TOWER; BARAKHAMBA LANE, NEW DELHI, DELHI, INDIA

-

19

90043881

30/08/2003

100,000,000.00

UTI BANK LIMITED.

STATESMAN HOUSE, 148; BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

20

90043798

19/07/2005 *

475,000,000.00

ICICI BANK LIMITED.

ICICI BANK TOWER, NBCC PLACE; BISHAM PITAMAH MARG. PRAGTI VIHAR, NEW DELHI, DELHI - 110003, INDIA

-

21

90043724

15/03/2003

797,500,000.00

PUNJAB NATIONAL BANK

ECE HOUSE, K.G. MARG, NEW DELHI, DELHI - 110001, INDIA

-

22

90043616

30/08/2003 *

100,000,000.00

UTI BANK LIMITED.

STATESMAN HOUSE, 148; BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

23

90062601

18/07/2002

14,500,000.00

STANDERED CHARTERED BANK

PARLIAMENT STREET, NEW DELHI, DELHI, INDIA

-

24

90043468

10/02/2003 *

5,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE, WORLD TRADE CENTRE; CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

25

90062578

26/06/2002 *

150,000,000.00

BANK OF MAHARASHTRA

LOKMANGAL, PUNE, MAHARASHTRA - 411005, INDIA

-

26

90043449

11/02/2003 *

5,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE, WORLD TRAD CENTRE; CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

27

90062565

13/06/2002 *

500,000,000.00

STATE BANK OF INDIA

CORPORATION ACCOUNTS GROUP, VIJAYA BUILDING (10-FLOOR) 17, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

28

90043426

30/06/2004 *

4,000,000.00

CO-OPERATIEVE CENTRALE RAIFFEISEN BOERENIEEN BANK

B.A. SINGAPORE BRANCH, 77; ROBINSON ROAD; #09-00; 
SIA BUILDING, SINGAPORE, - 068896, SINGAPORE

-

29

90062541

09/05/2002

10,000,000.00

LORD KRISHNA BANK LIMITED.

K-2; GROUND FLOOR ; SOM DATT TOWER, SEC-18;, NOIDA, UTTAR PRADESH - 201301, INDIA

-

30

90043349

25/06/2005 *

115,000,000.00

UTI BANK LIMITED.

STATESMAN BUILDING, 148; BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

31

90043323

13/02/2002

84,500,000.00

EXPORT- IMPORT BANK OF INDIA

CENTRE ONE; FLOOR 21, WORLD TRADE CENTRE; CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

32

90043270

20/12/2001

110,000,000.00

LORD KRISHNA BANK LIMITED

K-2; GROUND FLOOR; SOM DATT TOWER, SCTOR- 18, NOIDA, UTTAR PRADESH - 201301, INDIA

-

33

90043210

04/10/2001

117,000,000.00

ICICI LIMITED

ICICI TOWERS, BANDRA KURLA COMPLEX; BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA

-

34

90062276

17/05/2002 *

300,000,000.00

UTI BANK LIMITED.

STATMAN BUILDING, 148; BARAKHMBA ROAD, NEW DELHI, 
DELHI - 110001, INDIA

-

35

90043129

25/09/2006 *

117,740,000.00

ICICI BANK LIMITED.

ICICI TOWER, NBCC PLACE, BISHAM PITAMAHA MARG,, LODHI ROAD, NEW DELHI, DELHI - 110003, INDIA

A13985783

36

90043114

28/09/2001 *

300,000,000.00

UTI BANK LIMITED

KANCHENJUNGA BUILDING, 18; BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

-

37

90062208

17/05/2002 *

10,770,000.00

ICICI BANK LIMITED.

C-23; G-BLOCK ; BANDRA KURLA COMPLEX, BANDRA (E),  MUMBAI, MAHARASHTRA - 400051, INDIA

-

38

90043036

08/03/2001

31,100,000.00

TECHNOLOGY DEVELOPMENT BOARD

TECHNOLOGY BHAVAN, NEW MEHRAULI ROAD, NEW DELHI, DELHI - 110016, INDIA

-

39

90042954

13/12/2000

5,000,000.00

ICICI LIMITED

ICICI TOWERS, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA

-

40

90042949

17/05/2001 *

1,607,500,000.00

PUNJAB NATIONAL BANK

ECE HOUSE, NEW DELHI, DELHI, INDIA

-

41

90061895

17/05/2002 *

250,000,000.00

ICICI BANK LIMITED.

BANDRA KURLA COMPLEX, ICICI BANK TOWER; BANDRA(E), MUMBAI, MAHARASHTRA - 400051, INDIA

-

42

90061511

17/05/2002 *

51,000,000.00

ICICI BANK LIMITED.

C-23; G-BLOCK ; BANDRA KURLA COMPLEX, BANDRA(E), 
MUMBAI, MAHARASHTRA - 400051, INDIA

-

43

90061509

17/05/2002 *

144,000,000.00

IFCI LIMITED.

IFCI TOWER ; 61; NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA

-

44

90061103

17/05/2002 *

100,000,000.00

ICICI BANK LIMITED.

C-23; G-BLOCK ; BANDRA KURLA COMPLEX, BANDRA (E), 
MUMBAI, MAHARASHTRA - 400051, INDIA

-

45

90061037

17/05/2002 *

250,000,000.00

ICICI BANK LIMITED.

C-23; G-BLOCK ; BANDRA KURLA COMPLEX, BANDRA (E), 
MUMBAI, MAHARASHTRA - 400051, INDIA

-

46

90060914

17/05/2002 *

5,000,000.00

ICICI BANK LIMITED.

C-23; G-BLOCK ; BANDRA KURLA COMPLEX, BANDRA (E), 
MUMBAI, MAHARASHTRA - 400051, INDIA

-

47

90041687

05/06/2001 *

350,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE; WORLD TRADE CENTRE, CUFFE PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA

-

48

90060867

17/05/2002 *

460,000,000.00

IFCI LIMITED.

IFCI TOWER ; 61; NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA

-

49

90041072

07/04/1997 *

57,500,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, VIJAYA BLDG. BARAKHAMBA ROAD., NEW DELHI, DELHI - 110001, INDIA

-

50

90040575

02/03/1989

29,250,000.00

INDUSTRIAL FINANCE CORPORATION OF INDIA

BANK OF BARODA BUILDING, 16; SANSAD MARG, NEW DEL 
HI, DELHI - 110001, INDIA

-

51

90040522

02/06/1988

5,000,000.00

GRINDLAYS BANK

H- BLOCK, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA

-

52

90040519

13/05/1988

16,000,000.00

PUNJAB NATIONMAL BANK

ECE HOUSE, G.G. MARG, NEW DELHI, DELHI - 110001, 
INDIA

-

53

90040501

02/03/1988

38,880,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA

227; VINAY K. SHAH MARG, NARIMAN BHAWAN; NARIMAN 
POINT, BOMBAY, MAHARASHTRA - 400021, INDIA

-

54

90040499

25/02/1988

50,000,000.00

STATE BANK OF INDIA

11; SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA

-

55

90040482

13/11/1987

50,000,000.00

PUNJAB NATIONAL BANK

B/O E C E HOUSE, 28; K.G. MARG, NEW DELHI, DELHI- 110001, INDIA

-

56

90040479

09/10/1987

1,480,699.00

THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATIO OF 
INDIA LIMITED

163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA

-

57

90040460

22/04/1987

15,000,000.00

INDUSTRIAL FINANCE CORPORATION OF INDIA

BANK OF BARODA BUILDING, 16; SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS:

 

Tangible Assets:

·         Free hold Land

·         Lease hold Land

·         Factory Building

·         Non-Factory Building

·         Plant and Machinery

·         Furniture, Fixtures

·         Office Equipment

·         Vehicles (acquired on Finance Lease)

·         Capital Spares

 

Intangible Assets

·         Goodwill

·         Technical. Designs/Drawings

·         Software for Internal Use

 

 

WEBSITE DETAILS

 

HISTORICAL MILESTONES

 

1973 :  Teletube Electronics Limited - first BandW picture tube manufacturing plant set up at Ghaziabad.

 

1983 : Samtel India Limited set up in Bhiwadi, Rajasthan to manufacture BandW picture tubes in different sizes.

 

1985 : Manufacturing facility set-up for electron gun production at Ghaziabad.

 

1987 :  Samtel Color Limited started in technical collaboration with Mitsubishi Electric, Japan to manufacture color picture tubes from its plant in Ghaziabad.

 

1989 : Color CRT gun manufacturing plant set-up at Ghaziabad.

 

1993 : Plant for manufacturing glass for picture tubes set up at Kota through a JV between Corning, USA and Samtel.

 

1998 : Deflection Yoke (DYs) division set up in Parwanoo to manufacture Dys for use in color picture tubes.

 

2001 : Samtel Electron Devices GmbH formed through strategic acquisition of Thales Germany.

 

2004 : Padmashree Award conferred on Mr. Satish Kaura – CMD, Samtel Group.

 

2006 : JV with Hindustan Aeronautics Limited (HAL) to form Samtel HAL Display Systems Limited.

 

2008 : JV with Thales, France to form Samtel Thales Avionics.

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.90

UK Pound

1

Rs.100.47

Euro

1

Rs.84.65

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Report Prepared by :

NTH

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

1

--PROFITABILIRY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

12

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.