Crisil rating report
-
Upload
jery7 -
Category
Economy & Finance
-
view
1.022 -
download
0
Transcript of Crisil rating report
1
PCS Corporation
NSIC-CRISIL Rating: SE 3B
'Moderate Performance Capability
and Moderate Financial Strength'
indicates the level of creditworthiness,
adjudged in relation to other SSIs
Report Date Valid Till
December 19, 2012 December 18, 2013
1
Important Notice
This rating has been assigned under the scheme for Rating of Small-Scale Industries, formulated,
and subsidised by the National Small Industries Corporation Limited, New Delhi (NSIC). A copy of the rating report has been submitted to NSIC. The rating is to be used solely for the purpose for
which this rating was assigned under NSIC’s scheme, and for no other purpose. The rating is a one-time exercise and the rating will not be kept under surveillance. This rating is valid for one year
from the report date, subject to no significant changes/events occurring during this period that could materially affect the business or financial parameters of the organisation as mentioned in the report.
CRISIL, however, recommends that the user of the rating seeks a review of the rating, if the organisation experiences significant changes/events during this period, which could impact the
organisation/its rating. For verifying if this is an accepted and valid rating, please visit:
http://www.crisil.com/credit-ratings-risk-assessment/nsic-ratings-list.htm.
The rating and this report are based on the information provided to CRISIL by the organisation
and/or obtained by CRISIL from sources it considers reliable including published annual reports,
management meetings, industry data and discussions with bankers, customers and suppliers.
CRISIL does not guarantee the accuracy, adequacy or completeness of any information on which
the rating and the report are based and is not responsible for any errors or omissions for the
results/opinions obtained from the use of the rating or the rating report. The rating does not
constitute an audit of the organisation by CRISIL. The rating is also not a recommendation to enter
into or not enter into any transaction with the organisation. CRISIL reserves the right to disclose the
organisation’s rating and the rating report to Government and/or Regulatory Authorities/Courts of
Law if required to do so.
It is especially stated that CRISIL, its Directors, Rating Committee members, employees and others associated with the rating assignment do not have any financial liability whatsoever including but
not limited to attorney’s or consultant’s fees to the users of this rating or this rating report. No part of this report may be reproduced by any means without CRISIL’s prior written approval.
2
Index
NSIC-CRISIL PERFORMANCE AND CREDIT RATING .....................................................................3
KEY RATING DRIVERS ..........................................................................................................................4
STRENGTHS ..................................................................................................................................... 4
RISK FACTORS ................................................................................................................................. 4
FACT SHEET .............................................................................................................................................5
BUSINESS PROFILE ................................................................................................................................6
BUSINESS DESCRIPTION ................................................................................................................ 6
REVENUE PROFILE ......................................................................................................................... 7
CUSTOMER PROFILE AND DEMAND-SIDE ANALYSIS .............................................................. 7
SUPPLIER PROFILE AND SUPPLY-SIDE ANALYSIS ................................................................... 8
MANUFACTURING FACILITIES ..................................................................................................... 8
OWNERSHIP AND MANAGEMENT ......................................................................................................9
PROPRIETORS’ PROFILE ................................................................................................................ 9
KEY MANAGEMENT PERSONNEL ................................................................................................ 9
ORGANISATION STRUCTURE, CONTROLS, AND SYSTEMS ................................................... 10
OWNERSHIP PATTERN ................................................................................................................. 10
GROUP COMPANIES AND FIRMS ................................................................................................ 10
FINANCIAL PROFILE ........................................................................................................................... 11
CURRENT FINANCIAL PERFORMANCE ..................................................................................... 11
PAST FINANCIAL PERFORMANCE ............................................................................................. 12
PROFIT AND LOSS ACCOUNT ................................................................................................. 12
BALANCE SHEET ...................................................................................................................... 13
KEY FINANCIAL RATIOS ......................................................................................................... 14
FUND FLOW STATEMENT ....................................................................................................... 15
GRAPHS ...................................................................................................................................... 16
BANKING FACILITIES................................................................................................................... 17
SITE VISIT ............................................................................................................................................... 18
3
NSIC-CRISIL PERFORMANCE AND CREDIT RATING
SE 3B Financial Strength
indicates High Moderate Low
'Moderate Performance
Capability and Moderate
Financial Strength'
Per
form
an
ce
Ca
pab
ilit
y Highest SE 1A SE 1B SE 1C
High SE 2A SE 2B SE 2C
Moderate SE 3A SE 3B SE 3C
adjudged in relation to
other SSIs Weak SE 4A SE 4B SE 4C
Poor SE 5A SE 5B SE 5C
4
KEY RATING DRIVERS
STRENGTHS • Proprietor having 10 years of experience in the same line of business, thereby demonstrating the
proprietor’s ability to steer the firm through operational hurdles.
• Established relationships with suppliers lead to uninterrupted supply of raw materials.
RISK FACTORS • Although the firm has been in operation for nine years, the firm has not increased its scale of
operations. Ability of the firm to increase its scale of operations while maintaining operational
efficiency remains to be seen.
• Weak organisation structure resulting in the business being highly dependent on the promoters.
• The firm has only local presence, which makes it vulnerable to geographic concentration risk.
• Weak internal controls and systems; Manual reporting systems are likely to impede business scalability.
• Weak bargaining power with customers as reflected in stretched receivables during 2011-12
(refers to financial year, April 1 to March 31).
• Moderate credit protection as reflected in the debt-to-equity (not including promoters loan as
debt) of 1.43 times as on March 31, 2012, profit before depreciation, interest, and tax (PBDIT) interest cover of 2.48 times, and net cash accruals of 13.81 per cent of the total debt during
2011-12.
• Margins may be affected on account of:
o Raw material price fluctuation
o Intense competition from organised and unorganised players
5
FACT SHEET
Name of the firm PCS Corporation
Year of establishment 2003
Legal status Proprietorship
Legal history There is no change in the business, management, and constitution of the firm since inception.
Registered with Not applicable
Registration number Not applicable
SSI Registration number 270251108749 dated May 27, 2011
Proprietor Mr. Bhagwan B Sonavane
Category of entrepreneur General
Listed at Not applicable
Registered and administrative
office and manufacturing
facility
Survey No. 82/1, Dangat Patil Nagar,
Near Vidyut Control, Shivane, Pune – 411 023,
Maharashtra Tel: +91 9422781458
Email: [email protected]
Website: www.pcscorpindia.com
Number of employees Permanent: 1 Contractual: 7
Total: 8
Certifications and awards ISO 9001:2008 (valid till March 2015)
Brands None
Statutory compliance • Income tax filing: Regular and timely
• Excise duty filing: Not applicable1
• Sales tax filing: Regular and timely
• Wealth tax filing: Not applicable
• ESIC and EPF dues: Not applicable
(As provided by the management, not independently verified.)
1 Excise duty is not applicable as turnover of the firm is below the exemption limit of Rs.150.00 lakh, as per
notification no. 8/2003 dated March 1, 2003 of Central Excise Act, 1994.
6
BUSINESS PROFILE
BUSINESS DESCRIPTION
Nature of business : Manufacturing
Industry : Plastic and plastic products
Industry prospects : Strong
Business description : Business:
• The firm is engaged in the manufacturing of plastic moulds and mould components which derive its
application in manufacturing of toys, irrigation
systems, and machine components.
• The manufacturing activities commenced during 2011-12.
• The firm was engaged in job work to manufacture plastic moulds for customers.
• Job work is the higher contributor in total sales.
Manufacturing:
• The key raw material used includes plastic granules sourced from local suppliers and
distributors.
• The manufacturing process includes the following
activities:
o Procurement of raw material
o Setting up of mould in machinery.
o Melting and moulding in designed moulds.
o Packaging and dispatch.
• The moulds are manufactured as per customer
specifications and designs. Mr. Bhagwan B
Sonavane (Proprietor) undertakes the designing
and quality control activities.
• The manufacturing cycle time is about 20 to 30
days depending on the products required by the customer.
• The firm’s manufacturing capacity varies
depending on the type of mould to be
manufactured.
• Details regarding selling price of the products are
not provided to CRISIL.
• The firm maintains an average raw material and finished goods inventory of about 30 days.
• The labour operates in a single shift of twelve hours.
Job work:
• The firm undertakes job work to manufacture
plastic moulds for customers on need basis.
• The firm manufactures moulds as per customer’s
7
designs.
• The job work charges vary from Rs.1,000.00 to
Rs.1,500.00 depending on the type of mould to be manufactured.
Experience in the business : 9 years
Product range : Diverse
Degree of competition : High; entry barriers are low
Plans : The firm does not have any near-term capital
expenditure plans.
Customer profile : Direct customers
REVENUE PROFILE
Service name Share in net sales (%)
Manufacturing 50.00
Job work 50.00
Total 100.00
CUSTOMER PROFILE AND DEMAND-SIDE ANALYSIS
Customer name and location Product Length of
relationship
% share
in sales
Anindita Toys, Pune
Mould and mould
components
4 years 20.00
Abhilash Enterprises, Pune 9 years
Varies
annually
Niky Precision Engineers Private
Limited, Pune
8 years
Titan Aeration, Pune 4 years
J Plast Industries, Pune 4 years
Note: The firm caters to about 20 customers located in Pune. No customer accounts for more than
25.00 per cent of the total sales.
Terms of credit : Credit up to 30 days
Feedback from customers : Satisfied with the relationship
Process of getting orders : Regular orders from customers
Exports : Nil
Marketing network : The firm does not have a formal marketing set-
up. It relies on repeat orders from customers.
Moreover, Mr. Bhagwan B Sonavane
personally maintains relationship with
customers and procures new customers.
Geographical reach : Limited to one state (Maharashtra)
8
SUPPLIER PROFILE AND SUPPLY-SIDE ANALYSIS
Supplier's / Wholesaler's name Product Length of relationship
Gajanan Polymers
Plastic granules
9 years
World Plast 6 years
V K Polymers 4 years
V K Petro Chemicals 4 years
Terms of purchase : Credit up to 30 days
Feedback from suppliers : Satisfied with the relationship
Raw material availability : Ample
Raw material price volatility : High
Ability to pass on raw material price increases : No
Imports : Nil
MANUFACTURING FACILITIES
Labour oriented operations : Yes
Labour union : No
Labour relationships : Cordial
Automation : Yes, Semi-automated operations
In-house R&D, designing facilities : Yes
Factory layout : Spacious and well-organised
Photographs of the manufacturing facility: inner view of the facility
9
OWNERSHIP AND MANAGEMENT
PROPRIETORS’ PROFILE
Proprietor’s name : Mr. Bhagwan B Sonavane
Age : 38 years
Qualification : BE (Mechanical)
Designation / responsibilities : Proprietor/Overall management
Relevant experience : 10 years (1 year as a productioni
supervisor with ADVIK Hi-Tech
Private Limited engaged in the same
line of business and 9 years through
the rated firm)
Personal liquid net worth : Data not provided to CRISIL
Proprietor’s residence address : Flat No. 606, A/2 Building, Sneharihar, Shivane,
Pune – 411 023, Maharashtra
Ownership of residence : Self-owned
Vehicles used : Tata Indigo
The personal net worth of the promoters is as disclosed by the management and not certified.
KEY MANAGEMENT PERSONNEL
Name : Mrs. Minal B Sonavane (wife of Mr. Bhagwan B
Sonavane)
Age : 32 years
Qualification : BE (Electrical)
Designation / responsibilities : Manager/Administration
Previous experience : 9 years through the rated firm
10
ORGANISATION STRUCTURE, CONTROLS, AND SYSTEMS
Proprietor : Mr. Bhagwan B Sonavane
Constitution : Proprietorship
Second tier management : Weak organisation structure
Decision making powers : Centralised with the promoters
Reporting system or MIS : Yes
Type of reporting system : Manual
Frequency of MIS / reporting : Daily
Litigations against the SSI : None
Litigations against the promoters :
Severity of litigations :
Not applicable
Susceptibility to foreign exchange fluctuations :
Hedging against foreign exchange risks :
Susceptibility to commodity price fluctuations :
Hedging against commodity prices :
Asset insurance : Adequate
OWNERSHIP PATTERN
Not applicable
GROUP COMPANIES AND FIRMS
The firm does not have any associate firm or group companies.
11
FINANCIAL PROFILE
CURRENT FINANCIAL PERFORMANCE
Performance for the period ended from April 1, 2012 to November 30 , 2012
Net sales Rs. Lakh 25.00
PBT Rs. Lakh Data not
provided to
CRISIL PBT margin %
Total debt Rs. Lakh
Current debtors (pertains to 2012-13) Rs. Lakh 4.00
Current order book (to be executed by January 2013) Rs. Lakh 4.00
Projected performance during 2012-13
Net sales Rs. Lakh 40.00
PBT Rs. Lakh Data not
provided to
CRISIL PBT margin %
12
PAST FINANCIAL PERFORMANCE
PROFIT AND LOSS ACCOUNT
For the year ended 2011-12 2010-11 2009-10
CA Certified
Unaudited Unaudited
Number of months 12 12 12
Net sales Rs. Lakh 20.37 13.02 11.16
Operating income Rs. Lakh 20.37 13.02 11.16
Cost of sales Rs. Lakh 9.13 9.18 7.77
OPBDIT Rs. Lakh 11.24 3.84 3.39
Interest and finance costs Rs. Lakh 4.58 0.10 0.03
OPBDT Rs. Lakh 6.66 3.74 3.36
Depreciation Rs. Lakh 3.73 0.61 0.60
OPBT Rs. Lakh 2.93 3.13 2.76
Non-operating income / (expense) Rs. Lakh 0.14 - 0.05
PBT Rs. Lakh 3.07 3.13 2.81
Extraordinary income / (expense) Rs. Lakh - - -
Reported PBT Rs. Lakh 3.07 3.13 2.81
Provision for taxes Rs. Lakh - - -
Deferred tax liability / (asset) Rs. Lakh - - -
PAT Rs. Lakh 3.07 3.13 2.81
Dividends Rs. Lakh - - -
Net cash accruals Rs. Lakh 6.80 3.74 3.41
Notes:
• Sales for the year ended March 31, 2012 increased on account of higher orders executed during
the year on account of capacity enhancement. The firm commenced manufacturing during 2011-
12. Sales during 2010-11 increased on account of higher job work orders received from
customers.
• Interest and finance cost for the year ended March 31, 2012 comprises interest on term loan
from Indian Overseas Bank (Rs.3.98 lakh), bank charges (Rs.0.28 lakh), interest on car loan from Kotak Mahindra Bank Limited (Rs.0.21 lakh), and interest on cash credit from Indian
Overseas Bank (Rs.0.13 lakh). Interest on housing loan from Syndicate Bank is paid in the
personal capacity by the proprietor.
• Interest and finance cost for the year ended March 31, 2012 increased on account of new term loan and cash credit availed from Indian Overseas Bank during the year.
• Depreciation is charged as per the provisions of the Income Tax Act, 1961. Depreciation for the year ended March 31, 2012 increased substantially primarily on account of purchase of new
machinery during the year.
• Non-operating income for the year ended March 31, 2012 comprises interest on fixed deposit
with Indian Overseas Bank (Rs.0.14 lakh) and as on March 31, 2011 comprises of profit on sale
of asset (Rs.0.05 lakh).
• Taxes are paid in advance by the proprietor.
13
BALANCE SHEET
31-Mar-
2012
31-Mar-
2011
31-Mar-
2010
CA Certified Unaudited Unaudited
Liabilities
Capital Rs. Lakh 34.33 14.67 6.31
Deferred tax liabilities / (assets) Rs. Lakh - - -
Long-term debt Rs. Lakh 43.34 9.69 4.36
of which, current portion of long-term
debt
Rs. Lakh - - -
Short-term debt Rs. Lakh 5.91 - -
of which, working capital borrowing
from banks
Rs. Lakh 5.91 - -
Other liabilities and provisions Rs. Lakh 1.40 4.18 0.65
Total liabilities Rs. Lakh 84.98 28.54 11.32
Assets
Net fixed assets Rs. Lakh 42.61 3.48 4.09
Investments Rs. Lakh 20.07 15.17 -
Inventory Rs. Lakh 3.84 - -
Receivables (total) Rs. Lakh 10.31 2.65 4.54
of which, receivables greater than six
months
Rs. Lakh - - -
Cash and bank balance Rs. Lakh 0.34 2.41 0.42
Other current assets Rs. Lakh 7.81 4.83 2.27
Total assets Rs. Lakh 84.98 28.54 11.32
Notes:
• The proprietor has infused capital (Rs.6.80 lakh) and (Rs.5.23 lakh) during 2011-12 and 2010-11 respectively.
• Long-term debt as on Mach 31, 2012 comprises term loan from Indian Overseas Bank (Rs.34.42 lakh), housing loan from Syndicate Bank (Rs.8.36 lakh), and vehicle loan from Kotak
Mahindra Bank Limited (Rs.0.56 lakh). Long-term debt as on March 31, 2012 increased
substantially on account of term loan borrowed from Indian Overseas Bank during the year.
• Short-term debt as on March 31, 2012 comprises cash credit from Indian Overseas Bank (Rs.5.91 lakh). Short-term debt for the year 2010-11 and 2009-10 are nil since the firm did not
avail any short-term during the period.
• Other liabilities and provisions as on March 31, 2012 comprise creditors for goods (Rs.1.27
lakh) and provisions for expenses (Rs.0.13 lakh).
• Net fixed assets as on March 31, 2012 increased substantially on account of purchase of new
machinery during the period.
• Investments as on March 31, 2012 comprise investment in residential flat (Rs.16.73 lakh), fixed
deposit with Indian Overseas Bank (Rs.2.63 lakh), investment in Reliance Mutual Fund
(Rs.0.42 lakh), and investment in gold (Rs.0.29 lakh). Investments as on March 31, 2012
increased on account of increase in investment in fixed deposit by the firm during the year.
• Receivables during 2011-12 are high on account of year-end execution of orders.
• Other current assets as on March 31, 2012 comprise value added tax (VAT) refund (Rs.4.46
lakh), deposits (Rs.3.10 lakh), and advance tax paid (Rs.0.25 lakh).
14
KEY FINANCIAL RATIOS
For the year ended / as at 31-Mar-2012 31-Mar-2011 31-Mar-2010
CA Certified Unaudited Unaudited
OPBDIT margin % 55.19 29.49 30.38
PAT margin % 15.08 24.00 25.18
Return on capital employed % 14.18 18.44 NM
Gross current assets days 395 272 233
Days inventory (on COP) days 154 -2 -
2
Days receivable (on gross sales) days 185 74 148
Days payable (on materials) days 149 -2 -2
Current ratio Times 3.41 2.37 11.17
PBDIT Interest cover Times 2.48 36.84 -3
Net cash accruals/Total debt % 13.81 38.55 78.21
Debt service coverage ratio Times 1.66 38.94 NM
Average cost of borrowing % 15.54 1.48
Total outside liabilities/Capital Times 1.48 0.95 0.79
Gearing - Total debt/Capital Times 1.43 0.66 0.69
Gearing (not including promoter loans
as debt)
Times 1.43 0.64 0.20
NM: Not meaningful
Notes:
• Operating margin for the year ended March 31, 2012 increased substantially on account of high closing stock maintained during the year. The firm commenced manufacturing activities during
the year.
• Receivables during 2011-12 and 2009-10 are stretched on account of year end orders executed
by the firm and weak bargaining power with customers.
• Payables during 2011-12 appear stretched as it includes creditors for expenses. Bifurcation of the same is not provided to CRISIL.
• Average cost of borrowing for the year 2010-11 is low as the interest on housing loans is paid in personal capacity of the proprietor. The same increased during 2011-12 as the firm availed
additional debt during the year on which the interest payments were made from the books of
accounts.
2 As the firm was engaged in job work
3 As it is over 100.00 times
15
FUND FLOW STATEMENT
For the year ended 31-Mar-2012 31-Mar-2011
Sources of funds
Net cash accruals Rs. Lakh 6.80 3.74
Equity infusion / Share application money Rs. Lakh 16.59 5.23
Long-term debt borrowed (net) Rs. Lakh 33.65 5.33
Short-term debt borrowed (net) Rs. Lakh 5.91 -
Decrease in net current assets Rs. Lakh - 0.88
Sale of investments / fixed assets Rs. Lakh - -
Other sources Rs. Lakh - -
Total sources of funds Rs. Lakh 62.95 15.18
Uses of funds
Investment and fixed assets purchased Rs. Lakh 45.13 15.18
Decrease in tangible net worth Rs. Lakh - -
Long-term debt repaid (net) Rs. Lakh - -
Short-term debt repaid (net) Rs. Lakh - -
Increase in net current assets Rs. Lakh 17.82 -
Other uses Rs. Lakh - -
Total uses of funds Rs. Lakh 62.95 15.18
Notes
• Long-term debt borrowed as on March 31, 2012 pertains to term loan borrowed from Indian
Overseas Bank.
• Increase in current assets during 2011-12 primarily refers to increase in receivables.
CONTINGENT LIABILITIES
Contingent liabilities as on March 31, 2012: Nil
AUDITORS
Dapns and Company, Chartered Accountants,
Level 3, Narpatgiri Corner, Above Lokseva Sahakari Bank, 430, Mangalwar Peth, Pune – 411 011, Maharashtra
Auditors' comments and observations in their audit report for 2011-12, 2010-11, and 2009-10:
Not applicable
Change in auditors, if any:
No change
16
GRAPHS
17
BANKING FACILITIES
Name and location
of the bank
Length of
relationship
Facilities
availed
Type of
facility
Loan amount Rate (%)
Indian Overseas
Bank,
Dhanukar colony
branch,
Anuradha Apartment,
Dhanukar
Colony,Kothrud,
Pune – 411 029
2 years
Cash
credit
Fund-based
limit
Rs.15.00 lakh* 13.00
Term loan Rs.34.42
lakh**
Syndicate Bank,
Pune
1 year Housing
loan
Fund-based
limit
Rs.8.36 lakh** 10.50
Kotak Mahindra Bank
Limited,
Pune
3 years Vehicle
loan
Fund-based
limit
Rs. 0.56 lakh** 14.00
*Sanctioned limit
**Outstanding as on March 31, 2012
Feedback : Performance of the account is regular. CRISIL has received this feedback verbally from the bank.
18
SITE VISIT
Address of the site visited : Survey No. 82/1, Dangat Patil Nagar, Near Vidyut Control, Shivane,
Pune – 411 023, Maharashtra
Date of site visit : December 15, 2012
No. of floors occupied : One
Size of premises : 1,600 square feet
Number of employees at the location : 8
Child labour at the site : No
Locality : Industrial
Location area : Urban
Site location : Side lanes
Site used as : • Administrative office
• Factory or works
• Warehouse
Site layout : Spacious and well-organised
Space around the building /
structure
: • Front porch
• Side space
State of infrastructure : • Power: Stable
• Back up power: Unavailable
• Water: Available
• Labour unions: Do not exist
• Transportation: Easily available
• Overall infrastructure: Satisfactory
Electricity consumption : 3,500 units
Building structure : Permanent structure
Ownership of premises : Rented
Sharing premises with group entities : No
Facilities available at the site : • Internet
• Security guards
• Name or sign boards
• Fire extinguisher
• Drinking water
• Transport arrangement
• Boundary wall
• Drainage and sewerage
• Pantry and canteen
CRISIL SME Ratings Contacts
Head Office CRISIL House Central Avenue Hiranandani Business Park Powai, Mumbai 400 076 Tel: +91 22 3342 3000 / 8400 Fax: +91 22 3342 3757 Contact: Mr. Avinash Gidwani E-mail: [email protected] Mr. Sujit Agrawal E-mail: [email protected]
Pune
1187/17, Ghole Road Shivaji Nagar Pune 411 005 Tel: +91 20 4018 1900 Fax: +91 20 4018 1930 Contact: Mr. Prashant Borole E-mail: [email protected] Mr. Rahul Prasad E-mail: [email protected] Mr. Uday Revankar E-mail: [email protected] Mr. Rahul Nigam E-mail: [email protected] Mr. Shriganesh Pardhi E-mail: [email protected]
Ahmedabad
706, 7th Floor, Venus Atlantis Vejalpur, Near Reliance Petrol Pump Anandnagar to Prahladnagar Road Satellite, Ahmedabad 380 015 Tel: +91 79 4024 4500 Fax: +91 79 4024 4520 Contact: Mr. Arunraj Rajmohan E-mail: [email protected]
Gurgaon Plot no: 46, Sector : 44 Opposite Provident Fund Office Gurgaon, Haryana : 122 003 Tel: +91 124 672 2402 Fax: +91 124 672 2001 Contact: Mr. Abhik Sen E-mail: [email protected] Mr. Kunal Raman E-mail: [email protected] Mr. Tejendra Kushwaha E-mail: [email protected]
Kolkata
HORIZON, 4th Floor, Block B 57, Chowringhee Road Kolkata 700 071 Tel: +91 33 2289 1949/4011 8200 Fax: +91 33 2283 0597 Contact: Mr. Sambit Das E-mail: [email protected] Ms. Jhumur Chowdhury E-mail: [email protected] Mr. Abhipshit Datta E-mail: [email protected]
Chennai Thapar House, Mezzanine Floor 43/44, Montieth Road, Egmore Chennai 600 008 Tel : +91 44 6616 3100 Fax: +91 44 2854 7531 Contact: Mr. B. Venugopal E-mail: [email protected] Mr. Harikrishnan A E-mail: [email protected]
Bengaluru
W 101, Sunrise Chambers 22, Ulsoor Road, Bengaluru 560 042 Tel: +91 80 2558 0899 Fax: +91 80 2559 4801 Contact: Mr. Sudhir Narayan E-mail: [email protected] Mr. Ravikiran Apte E-mail: [email protected]
Hubli
Unit No. 53 and 54 2nd floor, Eureka Junction Above Hubli Scan Centre, Opp. Revankar Comfort T.B. Road, Hubli 580 029 Tel: +91 836 2256 777 Mr. Kashiraya Kadaganchi E-mail: [email protected]
Hyderabad
3rd Floor, Uma Chamber Plot no 9 & 10, Nagarjuna Hills, Punjagutta, X Road Hyderabad 500 082 Tel: +91 40 2335 8103/05 Fax: +91 40 2335 7507 Contact: Mr. Mansur Basha E-mail: [email protected] Mr. Rahul Deshpande E-mail: [email protected]
Coimbatore New No. 750-7, Old No. 1055-6 1st Floor, Gowtham Centre Opp. Nilgiri Nest, Avinashi Road Coimbatore 641 018 Tel: +91 422 224 4559 Contact: Mr. Abraham L E-mail: [email protected]
Surat
811, 8th Floor, Rajhans Complex Opp. J K Tower, Ring Road Surat 395 002 Tel: +91 261 400 2230 Contact: Mr Devesh Kemkar E-mail: [email protected]
Nashik
1, Deep Aarti Apartments Opp. Bohora Park, Gangapur Road Nasik 422 002 Contact:
Mr. Pratik Shukla E-mail : [email protected]
Jaipur
C/14/13, 1st Floor, Shopping Centre Swarn Path Mansarovar, Jaipur 302 020 Phone: +91 141 302 1688/81 Contact: Mr. Vikas Banthia E-mail: [email protected]
Jamshedpur
Office No 7 Meghdeep Building, 2nd Floor “Q” Road, Bistupur, P.S. Bistupur Jamshedpur, Singhbhum (East) Jharkhand 831 001
Phone: +91 657 654 5958
Mr. Abhishek Kumar
E-mail: [email protected]
Raipur
323, 3rd Floor, Crystal Arcade Lodipara Chowk, Shankar Nagar Road Raipur 492 001 Tel: +91 771 409 9997 Contact: Mr. Yash Naidu E-mail: [email protected]
Indore
Office No 160, 1st Floor , Orbit Maill, A. B. Road , Indore 452 010 Tel: +91 731 3931386 Contact: Mr Devesh Kemkar E-mail: [email protected] Ludhiana
Sai Tower 202, Industrial Area Ludhiana 141 003 Tel: +91 161 501 1575 Contact: Mr. Munish Dhawan E-mail: [email protected] Mr. Abhinandan Sharda E-mail: [email protected] Mr. Sudhir Rana E-mail: [email protected] Mr. Manoj Sharma E-mail: [email protected]
Kochi
40/2908, F-14, 4th Floor Penta Menaka, Marine Drive Kochi 682 031 Phone +91 484 237 3337 Contact: Mr. Martin George Email: [email protected] Vadodara
509, Centre Point, R.C.Dutt Road Alkapuri, Vadodara 390 007 Tel: +91 265 3025 946 Contact: Mr. Prashant Menon E-mail: [email protected] Visakhapatnam
Cabin No.S-5, Vishaka Business Centre, 46-19-5, Manda Vari Street, Dondaparthy, Visakhapatnam 530 016 Tel: +91 891 6661 770 Contact: Mr. Kanuparthy Vamsi E-mail: [email protected]