MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
COGENT EMR SOLUTIONS LIMITED |
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Formerly Known As : |
BHUPENDRA RESINS PRIVATE LIMITED |
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Registered Office : |
Cogent Heritage, 10/33, Togmaya Lane, Behind Qutub Minar, Mehrauli,
New Delhi – 110030 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.11.1993 |
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Com. Reg. No.: |
55-56219 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PLC056219 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC08929E |
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PAN No.: [Permanent
Account No.] |
AACCC6991M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Subject Offers
Radiation Safety Solutions,
Raditation Audits, Radiation Survey. |
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 110000 |
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Status : |
Good |
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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 meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
Cogent Heritage, 10/33, Togmaya Lane, Behind Qutub Minar, Mehrauli,
New Delhi – 110030, India |
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E-Mail : |
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Website : |
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Corporate Office : |
Cogent Matrix, E-41/1, Okhla Industrial Area, Phase – II, New Delhi -
110020, India |
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Tel. No.: |
91-11-40506400/30 |
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Fax No.: |
91-11-41708181 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Professor J. Bihari |
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Designation : |
Chairman |
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Address : |
104, Uttarakhand, Jawahar Lal Nehru University Campus, New Delhi –
110067, India |
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Date of Birth/Age : |
16.01.1947 |
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Date of Appointment : |
26.12.2007 |
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Name : |
Mr. Akhil Bhargav |
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Designation : |
Director |
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Name : |
Mr. Vimal Joshi |
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Designation : |
Director |
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Address : |
D-473/1, Hardev Puri, Gautam Nagar, New Delhi – 110049, India |
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Date of Birth/Age : |
04.01.1976 |
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Date of Appointment : |
15.07.2005 |
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Name : |
Mr. Prashant kulshrestha |
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Designation : |
Director |
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Name : |
Mr. Damodar Sharma |
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Designation : |
Director |
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Name : |
Mr. Bhupendra Bagla |
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Designation : |
Director |
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Address : |
810/2, Chattarpur Edxtension, Main Road, New Delhi – 110030, India |
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Date of Birth/Age : |
11.09.1978 |
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Date of Appointment : |
15.07.2005 |
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Email : |
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Name : |
Mr. Suresh Baid |
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Designation : |
Director |
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Address : |
91, Sainik Vihar, Peetampura, New Delhi – 110088, India |
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Date of Birth/Age : |
11.09.1954 |
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Date of Appointment : |
15.07.2005 |
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Name : |
Mr.Narender Kumar Goyal |
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Designation : |
Additional Director |
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Address : |
C-73, DDA MIG, Flats Saket, New Delhi – 110017, India |
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Date of Birth/Age : |
20.07.1951 |
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Date of Appointment : |
26.12.2007 |
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Name : |
Mr. Ratan Lal Joshi |
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Designation : |
Director |
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Address : |
D-473/1, First, Floor, Hardev Puri, Gautam Nagar, New Delhi – 110049,
India |
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Date of Birth/Age : |
04.01.1975 |
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Date of Appointment : |
15.07.2005 |
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Email : |
KEY EXECUTIVES
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Name : |
Mr. Ved Prakash Sandlas |
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Designation : |
Principal Advisor |
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Name : |
Dr. V. S. Tripathi |
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Designation : |
President Technical |
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Name : |
Mr. Zafar Haq |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Satish Kumar Mahajan |
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Designation : |
President Product Development and Production |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Vinod Kumar L. Bagla |
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1 |
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Sushil S. Mangal |
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1 |
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Kavita Corporation Limited |
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1 |
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Bimetal Products Limited |
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1 |
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Aton Enterprises Limited |
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1 |
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Sintech Trading Limited |
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1 |
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Facinating Trading and Agencies Private Limited |
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1 |
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Model Premises Private Limited |
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1 |
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Cogent Venture (India) Limited |
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1 |
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Total |
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9 |
(As on 31.03.2007)
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Category |
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Percentage |
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Bodies Corporate |
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60.00 |
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Directors or relatives of directors |
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39.00 |
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Other top fifty Shareholders (Other than Listed above) |
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1.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject Offers Radiation
Safety Solutions, Raditation
Audits, Radiation Survey. |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
A.K. Sarda and Company Chartered Accountant |
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Address : |
3-5-5890, Flat No.112/113, Paras Chamber, Himayath Nagar, Hyderabad –
500029, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.000 |
2.002 |
2.002 |
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2] Share Application Money |
0.000 |
17.988 |
5.478 |
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3] Reserves & Surplus |
17.819 |
0.021 |
0.20 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.819 |
20.011 |
7.680 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
13.018 |
5.968 |
0.135 |
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TOTAL BORROWING |
13.018 |
5.968 |
0.135 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
35.837 |
25.979 |
7.815 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.328 |
14.765 |
1.808 |
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Capital work-in-progress |
6.952 |
6.951 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
4.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.988
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2.001 |
0.560 |
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Sundry Debtors |
2.575
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0.113 |
0.686 |
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Cash & Bank Balances |
0.172
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0.282 |
0.157 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
9.067
|
2.653 |
0.653 |
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Total
Current Assets |
13.802
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5.049 |
2.056 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.983
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0.774 |
0.218 |
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Provisions |
0.262
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0.012 |
0.011 |
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Total
Current Liabilities |
9.245
|
0.786 |
0.229 |
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Net Current Assets |
4.557
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4.263 |
1.827 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
35.837 |
25.979 |
7.815 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
167.934 |
10.105 |
2.202 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
167.934 |
10.105 |
2.202 |
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Profit/(Loss) Before Tax |
3.058 |
0.002 |
0.043 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
3.058 |
0.002 |
0.043 |
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Expenditures : |
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Raw Material Consumed |
125.549 |
7.074 |
1.470 |
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Salaries, Wages, Bonus, etc. |
8.727 |
1.585 |
0.320 |
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Payment to Auditors |
0.150 |
0.010 |
0.010 |
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Insurance Expenses |
0.015 |
0.000 |
0.000 |
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Depreciation & Amortization |
1.090 |
0.542 |
0.224 |
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Other Expenditure |
29.346 |
0.891 |
0.135 |
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Total Expenditure |
164.877 |
10.102 |
2.159 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.82
|
0.02 |
1.95 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.82
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0.02 |
1.95 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.02
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0.01 |
1.11 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13
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0.00 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.98
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0.34 |
0.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.49
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6.42 |
8.98 |
LOCAL AGENCY FURTHER
INFORMATION
Note:
The Registered Office the company has been shifted from Cogent House
Y-14 A, Green Park Main, New Delhi – 110016, India, to the present address
w.e.f. 08.08.2006
Website Details:
Profile:
Subject incorporated in 1993, is a member of Cogent Group, a multifaceted group actively involved in Infrastructure, Real Estate, Radiation Safety Solutions, Telecom Infrastructure, Energy Conservation, Media and Entertainment, Wellness, International Trade and publication…
Being the pioneers and market leaders in providing end to end solutions, the Company has developed a large range of products not limited to mobile phone safety accessories but also other Radiation safe Acessories, Radiation Safe Apparels, Radiation Safe uniforms, Radiation Safe Aprons, Radiation Safe Fabrics, Radiation safe Paints, Radiation Safe Building Material, Radiation Safe Glass Films, Radiation Safe Curtains, Radiation Audit Services, Radiation Shielding Contracts…
Company has conducted extensive radiation level audits all across the country and has found that at Most of the places radiation levels are already surpassing permissible levels by miles.
It is not only in India that such things are creating panic among people, few years back, WHO had advised countries to adopt measures towards curbing this hazard and many countries including Canada, Germany, Italy, China, US, Sweden etc have implemented various legislative measures in this direction.
Cogent products supplement this critical usage of wireless and electronic
gadgets which emit hazardous radiations. Today, if one does not want to take
risk of his kid’s kidnapping on way back from school, he has to provide a
mobile phone to him… Idea is to make that phone safe!!!
This business provides immense opportunities for millions of people within India itself… opportunities start from the level of…
Regional master franchisees, Area Development agencies, C & F Agents, Distributors, Dealers, Retailers, Self Earners operating from homes, Multi level Marketing Networks…
Company has also launched Radiation Safety Retail stores under the brand name “Cogentree” where complete radiation safety products range is available under one roof and close to customers’ door steps. This profitable Franchising model is offered to existing business owners all across the country with decent investments and very aggressive returns.
For global operations of the business, a wholly owned subsidiary company namely, Cogent Radiation Solutions Limited, has been incorporated in UK.
With current progress on government levels all across the world and with lot of coverage by media, awareness about such invisible and less heard hazards will increase and it is the right time to correct the perception of people that mobile phone or a microwave oven, or a washing machine or a lap top is not meant to be thrown out… They just need to make them safe…
The presence of EMR all across the places clearly indicates that Radiation Safety solutions have become a critical priority for Hospitals, Schools, Hotels, Malls, Multiplexes, Banks, Office Complexes, Call Centers, Software Development Centers, defense installations, space research organizations, Para-military & civil defense organization, Factories, Mills, Power generation units, Refineries, Telecom Companies, Telecom Tower Location owners etc and they are availing the products and services of Cogent to their utmost satisfaction…
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.40 |
|
UK Pound |
1 |
Rs.80.54 |
|
Euro |
1 |
Rs.62.96 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
|
54 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|