MIRA INFORM REPORT
|
Report No. : |
308418 |
|
Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ATRIE TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
712, 7th Floor, Hemkunt Chambers, 89, Nehru Place, New Delhi –
110019 |
|
|
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|
Country : |
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|
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
28.05.2001 |
|
|
|
|
Com. Reg. No.: |
55-111020 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.030 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72100DL2001PTC111020 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA12298G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA0724B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Design, Manufacture of Datacom and telecom products viz, Leased Line modems, Ethernet switches, Enterprise routers, and Wireless Lan. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 34000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There is an accumulated loss recorded by the company. Profitability of
the company also seems to be low during 2014. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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
31-03-2014.
LOCATIONS
|
Registered Office : |
712, 7th Floor, Hemkunt Chambers, 89, Nehru Place, New Delhi –
110019, India |
|
Tel. No.: |
91-11-26234079 / 4097 / 4250 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Corporate Office : |
#591, 1st Floor, RN Chambers 3rd Block, Koramangala, Bangalore – 560034, Karnataka, India |
|
Tel. No.: |
91-80-41101891 / 92 / 93 |
|
Fax No.: |
91-80-25633229 |
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E-Mail : |
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|
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Regional Office-
West: |
Plot No: 43, Flat No:2, Ground Floor, Archana Apartments, Sector 28, Vashi Navi Mumbai – 400705, Maharashtra, India |
|
|
|
|
Taiwan Office: |
10th Floor, 14, Lane 609, Sec.5, Chung
Hsin Rd, San Chung City, |
|
Tel. No.: |
886-2-2999-5155 |
|
Fax No.: |
886-2-2999-4960 |
|
|
|
|
China Office: |
1/F, Research Building 4, No.40, Xue Yuan Road, Hai Dian District, Beijing, R.R.C. ZIP:100083 |
|
Tel. No.: |
86-10- 62304951 ~ 4 |
|
Fax No.: |
86-10-62304955 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Ravichandran Balasubramanian |
|
Designation : |
Managing Director |
|
Address : |
191A, 18th Cross, 6th Block, Koramangala,
Bangalore - 560034, Karnataka, India |
|
Date of Birth/Age : |
20.04.1967 |
|
Date of Appointment : |
28.05.2001 |
|
DIN No.: |
00689213 |
|
|
|
|
Name : |
Uma Priya Karthik |
|
Designation : |
Director |
|
Address : |
1096, 19th Cross, IIIrd Sector, HSR Layout,, Bangalore -
560095, Karnataka, India |
|
Date of Birth/Age : |
21.11.1975 |
|
Date of Appointment : |
28.05.2001 |
|
DIN No.: |
00689176 |
|
|
|
|
Name : |
Neeta Ravichandran |
|
Designation : |
Director |
|
Address : |
#191/A , 18th Cross, 6th Block Koramangala, Bangalore - 560034,
Karnataka, India |
|
Date of Birth/Age : |
03.07.1967 |
|
Date of Appointment : |
10.09.2001 |
|
DIN No.: |
00738546 |
|
|
|
|
Name : |
Ping Jung Chuang |
|
Designation : |
Nominee Director |
|
Address : |
8 F-1, No 313, Sec.2, Neihu Rd, Neighborhood 3, Neihu Village, Neihu District,
Taipei, 114, Taiwan, Province of China |
|
Date of Birth/Age : |
15.10.1960 |
|
Date of Appointment : |
14.03.2008 |
|
DIN No.: |
02036086 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Atrie International Samoa Company Limited, Taiwan |
83447 |
49.00 |
|
Ravichandran Balasubramanian |
22139 |
13.00 |
|
Uma Priya Karthik |
39169 |
23.00 |
|
Neeta Ravichandran |
25545 |
15.00 |
|
Total |
170300 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
25.00 |
|
Directors or relatives of Directors |
75.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Design, Manufacture of Datacom and telecom products viz, Leased Line modems, Ethernet switches, Enterprise routers, and Wireless Lan. |
|
|
|
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Products : |
Datacom and telecom products |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
I. P. Pasricha and Company Chartered Accountants |
|
Address : |
Branch Office 243, 2nd Floor, Satyam Tower, Paschim Vihar,
New Delhi
– 110063, India |
|
PAN No.: |
AADFI7432F |
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|
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Membership : |
-- |
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|
|
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170300 |
Equity Shares |
Rs.10/- each |
Rs.17.030 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
17.030 |
17.030 |
17.030 |
|
(b) Reserves & Surplus |
(4.988) |
(5.294) |
(2.226) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
12.042 |
11.736 |
14.804 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.279 |
2.306 |
2.358 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2.279 |
2.306 |
2.358 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
20.524 |
20.136 |
19.795 |
|
(c) Other current
liabilities |
1.118 |
1.102 |
0.363 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.784 |
|
Total Current
Liabilities (4) |
21.642 |
21.238 |
20.942 |
|
|
|
|
|
|
TOTAL |
35.963 |
35.280 |
38.104 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2.374 |
2.810 |
2.826 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2.374 |
2.810 |
2.826 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1.250 |
1.250 |
1.250 |
|
(b)
Inventories |
8.501 |
10.093 |
8.398 |
|
(c) Trade receivables |
4.610 |
5.325 |
7.989 |
|
(d) Cash
and cash equivalents |
5.496 |
3.097 |
2.712 |
|
(e)
Short-term loans and advances |
5.989 |
5.519 |
5.342 |
|
(f) Other
current assets |
7.743 |
7.186 |
9.587 |
|
Total
Current Assets |
33.589 |
32.470 |
35.278 |
|
|
|
|
|
|
TOTAL |
35.963 |
35.280 |
38.104 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
61.656 |
38.916 |
27.048 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
61.377 |
42.037 |
29.475 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.279 |
(3.121) |
(2.427) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.027) |
(0.052) |
(0.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.306 |
(3.069) |
(2.343) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
37.025 |
24.222 |
8.404 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.79 |
(18.02) |
(27.20) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.78 |
(8.85) |
(6.37) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.27) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
1.53 |
1.68 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
17.030 |
17.030 |
17.030 |
|
Reserves & Surplus |
(2.226) |
(5.294) |
(4.988) |
|
Net
worth |
14.804 |
11.736 |
12.042 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
27.048 |
38.916 |
61.656 |
|
|
|
43.878 |
58.434 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
27.048 |
38.916 |
61.656 |
|
Profit |
(2.343) |
(3.069) |
0.306 |
|
|
(8.66%) |
(7.89%) |
0.50% |
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 |
No |
|
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 |
No |
|
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 |
NO CHARGES EXIST
FOR COMPANY.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
·
Computer Accessories
·
Computer Software
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.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
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.