MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ENVIROTECH INSTRUMENTS PRIVATE LIMITED |
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Registered Office : |
A-271, Okhla Industrial, Phase – I, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.11.1983 |
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Com. Reg. No.: |
55-16927 |
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CIN No.: [Company
Identification No.] |
U74899DL1983PTC016927 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE00052D |
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PAN No.: [Permanent
Account No.] |
AAACE2802R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Air Pollution Monitoring
Instruments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
A-271, Okhla Industrial, Phase – I, |
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Tel. No.: |
91-11-26813887 / 26814139 |
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Mobile No.: |
91-9811465395 |
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Fax No.: |
91-11-26810591 / 26811833 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Rakesh Aggarwal |
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Designation : |
Director |
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Address : |
B-117, Sarita Vihar, |
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Date of Birth/Age : |
01.05.1954 |
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Date of Appointment : |
10.11.1983 |
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Name : |
Mr. Shyam Krishan Gupta |
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Designation : |
Managing Director |
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Address : |
2/37, Sarvapriya Vihar, |
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Date of Birth/Age : |
19.10.1945 |
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Date of Appointment : |
10.11.1983 |
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Name : |
Mr. Rajendra Prasad |
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Designation : |
Director |
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Address : |
65/A, Pocket A-10, Kohinoor Apartments, Kalkaji Extension, New Delhi –
110019, India |
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Date of Birth/Age : |
15.06.1963 |
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Date of Appointment : |
27.08.2001 |
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Name : |
Ms. Anju Goel |
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Designation : |
Director |
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Address : |
5334 Plot - 2, |
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Date of Birth/Age : |
04.09.1971 |
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Date of Appointment : |
30.09.2004 |
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Date of Ceasing : |
24.09.2005 |
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Name : |
Mr. Ram Sarikh Yadav |
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Designation : |
Director |
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Address : |
A-644, Giri Marg, Mandawali Fazalpur, |
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Date of Birth/Age : |
01.10.1955 |
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Date of Appointment : |
30.09.2004 |
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Date of Ceasing : |
24.09.2005 |
KEY EXECUTIVE
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Name : |
V S Associates |
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Designation : |
Company Secretary |
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Address : |
115, Shri Krishna Business Centre, Laxmi Nagar, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Madhu Gupta |
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1850 |
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Raghav Gupta |
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2030 |
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S. K. Gupta |
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1120 |
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Harjee Exports Private Limited |
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3000 |
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Raman Agarwal |
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750 |
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Rajat Agarwal |
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750 |
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Pushpa Agarwal |
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500 |
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Total |
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10000 |
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Equity Share
Breakup |
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Percentage of Holding |
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Category |
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Directors of relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Air Pollution Monitoring
Instruments. |
GENERAL INFORMATION
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No. of Employees : |
About 35 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil K. Jain and Company Chartered Accountants |
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Address : |
18/3, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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10,000 |
Preference Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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Total |
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Rs. 2.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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7,814 |
Equity Shares |
Rs. 100/- each |
Rs. 0.781
Million |
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10,000 |
Preference Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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Total |
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Rs. 1.781 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.781 |
1.781 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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4.677 |
3.788 |
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NETWORTH |
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6.458 |
5.569 |
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LOAN FUNDS |
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1] Secured Loans |
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0.305 |
0.630 |
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2] Unsecured Loans |
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3.155 |
3.255 |
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TOTAL BORROWING |
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3.460 |
3.885 |
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DEFERRED TAX LIABILITIES |
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0.585 |
0.613 |
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TOTAL |
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10.503 |
10.067 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.851 |
4.045 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.154 |
5.010 |
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Sundry Debtors |
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6.648 |
5.677 |
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Cash & Bank Balances |
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7.770 |
0.615 |
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Other Current Assets |
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0.000 |
0.051 |
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Loans & Advances |
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1.984 |
1.873 |
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Total
Current Assets |
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21.556 |
13.226 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.817 |
6.374 |
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Provisions |
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1.087 |
0.830 |
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Total
Current Liabilities |
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14.904 |
7.204 |
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Net Current Assets |
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6.652 |
6.022 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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10.503 |
10.067 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales and Services |
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52.267 |
35.405 |
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Interest |
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0.195 |
0.083 |
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Miscellaneous Receipts |
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0.618 |
0.883 |
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Total Income |
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53.080 |
36.371 |
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Profit/(Loss) Before Tax |
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2.137 |
1.434 |
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Provision for Taxation |
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0.972 |
0.567 |
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Profit/(Loss) After Tax |
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1.165 |
0.867 |
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Earnings in Foreign Currency : |
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Total Earnings |
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2.704 |
3.420 |
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Imports : |
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Total Imports |
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2.454 |
3.170 |
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Expenditures : |
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Manufacturing Expenses |
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35.744 |
24.100 |
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Administrative Expenses |
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11.468 |
7.090 |
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Selling Expenses |
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4.315 |
2.557 |
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Financial Charges |
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0.263 |
0.292 |
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Depreciation & Amortization |
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0.420 |
0.396 |
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Total Expenditure |
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52.210 |
34.435 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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2.19 |
2.38 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.09 |
4.05 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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8.41 |
8.30 |
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Return on Investment (ROI) (PBT/Networth) |
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0.33 |
0.26 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.84 |
1.99 |
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Current Ratio (Current Asset/Current Liability) |
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1.45 |
1.84 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
ENVIROTECH
INSTRUMENTS PRIVATE LIMITED |
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Presented By |
Corporation
Bank, M-34, Greater Kailash –II, |
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1) Date and description of instrument creating the change |
14.02.2000 Registered on
07.03.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
movables already purchased and possessed by the borrowers and also to be
purchased from time to time more particularly as described in Schedule –I, to
this deed as follows : Rs in Millions
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is
hypothecated to secure the following credit facilities granted to the company
:
The rate of
interest shall be charged at the rate of 16 % p.a. – being 4 % over the above
the bank’s PLR which is 12 % as present. |
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5) Name and Address and description of the person entitled to the charge. |
Corporation Bank, M-34, Greater Kailash –II, |
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6) Date and brief description of instrument modifying the charge |
06.02.2001 Deed of
Hypothecation of Movables |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The amount of
charge over hypothecation of assets described in Schedule – I of this Deed
stands enhanced from Rs. 2.500 Millions to Rs. 4.000 Millions to secure the
following credit facilities granted to the company
The rate of interest
shall now be charged at the rate of 4 % OPLR subject to a minimum of 16 %
p.a. with quarterly rests of at such other rate as may be specified by the
bank from time to time. Other Terms and
conditions remained the same. |
AS PER WEBSITE
Subject is a manufacturer of Air Pollution
Monitoring Instruments. Their current product range includes Stack Sampling
systems, High Volume Samplers, PM 10 Samplers, Weather Monitors and Personal
Samplers. Envirotech has a dominant share of the Indian market with customers
ranging from State Pollution Control Boards, leading environmental consultants
and several hundred private and public sector industries spread all over the
country.
Envirotech uses its own 5000 square feet industrial premises at
Their Center for R&D is recognized by
the Department of Scientific and Industrial Research, Govt. of India and is
currently working on the development of a PM 2.5 sampler. An Organic Vapor
Sampler developed last year is currently under evaluation as a sponsored
project at the National Environmental Engineering Research Institute (NEERI),
Samplers
- Emissions from Stationary Sources
- ( + ) Community Air Quality
- PM10 / Respirable Dust Samplers
- APM 460 BL
- APM 460 NL
- APM 460 NLDX
- APM 541
Top Loading Calibrator
- Gaseous Sampling Attachments
- APM 411
- APM 411 TE
Soap Film Calibrator
- PM2.5 / Samplers APM 550
- Organic Vapor Sampler APM850
- Sound Level Meter
- Meteorological Parameters
- Wind Speed & Direction
- Temperature
- Relative Humidity
- Solar Radiation
- Rainfall
- ( + ) Shop-floor Air Quality
- APM 800 Personal Sampler
for Particulates & Fibers
- APM 821 Handy Sampler
for gaseous pollutants
Continuous Air Quality Monitoring Systems
- ( + ) Analyzers for Inorganic
Pollutants
- Products from
- ( + ) Analyzers for Organic Pollutants
- Products from Synspec,
- Benzene/Toluene/Xylene (BTX)
- Methane + Non Methane(Total HC)
- Toxic Organics
- ( + ) Meteorological Parameters
Activities
Product focus for
appropriate technology
Strong emphasis on
reliable calibration
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 records 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 |
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US Dollar |
1 |
Rs.40.48 |
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|
1 |
Rs.82.59 |
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Euro |
1 |
Rs.55.55 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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48 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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