|
|
|
MIRA INFORM REPORT
|
Report No. : |
494906 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
AT & S INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12A, Industrial Area, Nanjangud, Mysore – 571301, Karnataka |
|
Mob No.: |
91-9845733889 [Office] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.05.1988 |
|
|
|
|
Com. Reg. No.: |
08-025863 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 391.130 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1988PTC025863 |
|
|
|
|
IEC No.: |
0796005532 |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA2930J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the Manufacturer and Seller of Printed Circuit Boards
(‘PCBs’). [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1874300 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a wholly owned subsidiary of Austria Technologie and Systemtechnik AG,
Austria and it was incorporated in the year 1988. As per financials
of March 2017, the company has registered a growth of 8.34% in its revenue as
compared to its previous year’s revenue and has reported a good profit margin
of 13.03% under review. Rating
takes into consideration the company’s established track record of business
operations marked by sound net worth base along with low solvency indicators
and decent liquidity position. Rating
also takes into account the strong financial and managerial support receives
from its holding company. Further, the
company has reported a good Earnings Per Share of INR 41.35 against its face
value of INR 10. Payment
terms are reported to be usually correct.
In view of aforesaid, the company can be considered 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 28.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-9845733889]
[Given number 91-8221-304000 is not working]
LOCATIONS
|
Registered Office / Factory: |
12A, Industrial Area, Nanjangud, Mysore – 571301, Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9845733889 [Office] |
|
Fax No.: |
91-8221-228570/ 228571 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Robert Grobbauer |
|
Designation : |
Managing director |
|
Address : |
No 903 Brigade Horizon Near Gopala Gowda, Nursing Home Chamundi Vihar Complex, Mysore - 570001, Karnataka, India |
|
Date of Birth/Age : |
26.10.1966 |
|
Qualification : |
University Degree in Technical Chemistry |
|
Date of Appointment : |
17.09.2014 |
|
DIN No.: |
06974778 |
|
|
|
|
Name : |
Heinz Moitzi |
|
Designation : |
Director |
|
Address : |
Bundesstrasse 26, Zeltweg, 8740, Austria |
|
Date of Birth/Age : |
05.07.1956 |
|
Date of Appointment : |
03.11.2004 |
|
DIN No.: |
00323506 |
|
|
|
|
Name : |
Christian Fleck |
|
Designation : |
Director |
|
Address : |
Mercedessiedlung 5, 8712 Niklasdorf, Niklasdorf, 8712, , Austria |
|
Date of Birth/Age : |
14.03.1965 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
06558079 |
|
|
|
|
Name : |
Reinhard Killer |
|
Designation : |
Director |
|
Address : |
Kuhberg 30, 8411 Hengsberg, Kuhberg, 8411, Austria |
|
Date of Birth/Age : |
24.09.1970 |
|
Qualification : |
CA |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
06558093 |
|
|
|
|
Name : |
Simha Raghavendra Sameera |
|
Designation : |
Managing Director |
|
Address : |
No.915, 6th D Cross, 1st Main Kengeri Satellite Town, Bangalore – 560060, Karnataka, India |
|
Date of Birth/Age : |
10.07.1972 |
|
Qualification : |
BSC,ACMA,MBA |
|
Date of Appointment : |
23.01.2017 |
|
PAN No.: |
ADOPS5617E |
|
DIN No.: |
03374529 |
KEY EXECUTIVES
|
Name : |
Katla Naresh Kumar |
|
Designation : |
Company Secretary |
|
Address : |
GF-18, Sudhabdhi Sukha, J. P Nagar, Mysuru-+560008, Karnataka, India |
|
Date of Appointment : |
04.10.2017 |
|
PAN No.: |
AFEPN1554R |
|
|
|
|
Name : |
Simha Raghavendra Sameera |
|
Designation : |
Chief Finance Officer |
|
Address : |
No.915, 6th D Cross, 1st Main Kengeri Satellite Town, Bangalore – 560060, Karnataka, India |
|
Date of Appointment : |
23.01.2017 |
|
PAN No.: |
ADOPS5617E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
AT & S Austria Technologie and Systemtechnik
Aktiengesellschaft |
39112499 |
100.00 |
|
Reinhard Killer Jointly held with AT & S Austria Technologie and
Systemtechnik Aktiengesellschaft |
1 |
0.00 |
|
|
|
|
|
Total |
39112500 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturer and Seller of Printed Circuit Boards
(‘PCBs’). [Registered
Activity] |
||||
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|
Products/ Services : |
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|
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||||
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Brand Names : |
Not Divulged |
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|
||||
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Agencies Held : |
Not Divulged |
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||||
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Exports : |
Not Divulged |
||||
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|
||||
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Imports : |
Not Divulged |
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|
|
||||
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Terms : |
|
||||
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Selling : |
Not Divulged |
||||
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|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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|
||||||||||||||
|
Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||
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|
||||||||||||||
|
Bankers : |
· Punjab National Bank Devaraj URS Road, Mysore - 570001, Karnataka, India |
||||||||||||||
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|
|
||||||||||||||
|
Facilities : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company LLP Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
|
PAN No.: |
AAHFP0187A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Austria Technologie and Systemtechnik AG Austria, Austria |
|
|
|
|
Fellow Subsidiary company: |
· AT&S China Company Limited China · AT&S Asia Pacific Limited Hong Kong |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
INR 10/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39112500 |
Equity Shares |
INR 10/- each |
INR 391.130
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
391.130 |
391.130 |
391.130 |
|
(b) Reserves and Surplus |
264.900 |
(324.430) |
(166.180) |
|
(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) |
656.030 |
66.700 |
224.950 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1010.640 |
1555.440 |
1795.370 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
50.830 |
34.930 |
27.690 |
|
Total Non-current
Liabilities (3) |
1061.470 |
1590.370 |
1823.060 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
842.810 |
640.130 |
592.230 |
|
(c) Other
current liabilities |
528.640 |
545.490 |
366.340 |
|
(d) Short-term
provisions |
148.390 |
42.300 |
13.770 |
|
Total Current
Liabilities (4) |
1519.840 |
1227.920 |
972.340 |
|
|
|
|
|
|
TOTAL |
3237.340 |
2884.990 |
3020.350 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1261.180 |
1326.790 |
1251.410 |
|
(ii)
Intangible Assets |
0.700 |
1.170 |
2.870 |
|
(iii) Tangible assets
capital work-in-progress |
47.400 |
50.720 |
189.460 |
|
(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 loans and advances |
168.880 |
76.180 |
95.620 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1478.160 |
1454.860 |
1539.360 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
644.780 |
535.000 |
624.980 |
|
(c) Trade
receivables |
632.120 |
541.830 |
348.890 |
|
(d) Cash and
bank balances |
208.240 |
110.960 |
58.340 |
|
(e)
Short-term loans and advances |
164.190 |
188.620 |
274.300 |
|
(f) Other
current assets |
109.850 |
53.720 |
174.480 |
|
Total
Current Assets |
1759.180 |
1430.130 |
1480.990 |
|
|
|
|
|
|
TOTAL |
3237.340 |
2884.990 |
3020.350 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4523.120 |
4175.000 |
4358.800 |
|
|
Other Income |
114.370 |
12.650 |
406.120 |
|
|
TOTAL |
4637.490 |
4187.650 |
4764.920 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2288.580 |
2285.120 |
2160.720 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(40.070) |
(2.100) |
53.700 |
|
|
Employee benefit expense |
529.810 |
490.230 |
535.930 |
|
|
CSR expenditure |
1.480 |
0.720 |
0.000 |
|
|
Other expenses |
921.550 |
1135.560 |
912.670 |
|
|
TOTAL |
3701.350 |
3909.530 |
3663.020 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
936.140 |
278.120 |
1101.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
69.810 |
179.350 |
107.790 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
866.330 |
98.770 |
994.110 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
277.000 |
257.020 |
249.090 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
589.330 |
(158.250) |
745.020 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
589.330 |
(158.250) |
745.020 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3833.200 |
3506.620 |
3601.910 |
|
|
Earnings on professional and consultation fees |
17.710 |
17.020 |
16.730 |
|
|
TOTAL EARNINGS |
3850.910 |
3523.640 |
3618.640 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1695.970 |
1629.510 |
1699.350 |
|
|
Components and spare
parts |
127.690 |
123.060 |
134.430 |
|
|
Capital Goods |
142.750 |
127.870 |
108.810 |
|
|
TOTAL IMPORTS |
1966.410 |
1880.440 |
1942.590 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
41.35 |
(11.43) |
52.58 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
421.010 |
457.420 |
202.060 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
740.700 |
487.890 |
348.900 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
753.160 |
532.830 |
348.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
51.01 |
47.37 |
29.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.16 |
7.71 |
12.49 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
134.42 |
102.25 |
100.04 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.45 |
0.52 |
1.76 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.72 |
0.20 |
0.76 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.91 |
1.12 |
0.98 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.18 |
30.18 |
8.88 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.32 |
18.41 |
4.32 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.00 |
20.67 |
6.42 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
13.41 |
1.55 |
10.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
13.03 |
(3.79) |
17.09 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
18.20 |
(5.49) |
24.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
89.83 |
(237.26) |
331.19 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
1.16 |
1.52 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.73 |
0.73 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.20 |
0.02 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.66 |
5.15 |
5.11 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
1.16 |
1.52 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
391.130 |
391.130 |
391.130 |
|
Reserves & Surplus |
(166.180) |
(324.430) |
264.900 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
224.950 |
66.700 |
656.030 |
|
|
|
|
|
|
Long-term borrowings |
1795.370 |
1555.440 |
1010.640 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
202.060 |
457.420 |
421.010 |
|
Total
borrowings |
1997.430 |
2012.860 |
1431.650 |
|
Debt/Equity
ratio |
8.879 |
30.178 |
2.182 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4358.800 |
4175.000 |
4523.120 |
|
|
|
(4.217) |
8.338 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4358.800 |
4175.000 |
4523.120 |
|
Profit/ (Loss) |
745.020 |
(158.250) |
589.330 |
|
|
17.09
% |
(3.79
%) |
13.03
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C40688137 |
10028489 |
PUNJAB NATIONAL BANK |
07/11/2006 |
20/02/2009 |
23/12/2014 |
210000000.0 |
DEVARAJ URS ROADMYSOREKA570001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
1010.640 |
1555.440 |
|
|
|
|
|
Total |
1010.640 |
1555.440 |
GENERAL INFORMATION
AT&S India Private Limited (‘the Company’) is part of the AT&S Group of Austria. The Company is engaged in the manufacture and sale of printed circuit boards (‘PCBs’) from its manufacturing facility located at Nanjangud, Mysore, Karnataka.
STATE OF COMPANY’S AFFAIRS AND MARKET
OUTLOOK:
Continued increase in production order and various initiatives taken by the Board of Directors and sales team have resulted in increased loading situation since the beginning of the financial year. Continuous implementation of various actions contributed to reduction of cost. Local board of management took many initiatives to continue the stabilized production and reduction in production and maintenance cost, the effects of which are already being seen. Market conditions have already improved in the current year and the Directors are confident of good operational results in future.
As a result of all such efforts by the management & employees of the company, this year the Company had a profit of INR 589.330 Million as compared to the loss of INR 158.250 Million last financial year.
MARKET OUTLOOK
The Indian electronics market size is expected to be to the tune of US$ 400 billion by 2020. The Electronic equipment manufacturing in India is expected to touch US$ 100 billion. This will create immense scope for the PCB market.
Considering that the domestic PCB market grows at a CAGR of 15-20 per cent till 2020, it will reach the US$ 6 billion mark by 2020 from the current level of US$ 2.38 billion (PCB and PCBAs’).
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
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
|
INR |
|
US Dollar |
1 |
INR 64.85 |
|
UK Pound |
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.