MIRA
INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
EPI ENGINEERING AND PROJECT INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. 500,Sector 37, II, Pace City III, Gurgaon-122002, Haryana |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.2002 |
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Com. Reg. No.: |
05-34812 |
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CIN No.: [Company
Identification No.] |
U29299HR2002PTC034812 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKE00624B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Electronic Communication Systems |
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 10725 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.Trade
relations are fair. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Mahesh |
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Designation : |
Accountant |
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Contact No.: |
0124-2210787 |
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Date : |
19.11.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 500,Sector 37, II, Pace City III, Gurgaon-122002, |
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Tel. No.: |
91-124-2210787 |
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Mobile No.: |
9811032177/ 9811309045 |
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Fax No.: |
91-124-2210807 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr.Bhuwan C. Joshi |
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Designation : |
Chairman cum Managing Director |
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Address : |
U-24/4, DLF Qutab Enclave, Phase-3, Gurgaon-122002, Haryana. |
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Date of Birth/Age : |
10.09.1959 |
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Date of Appointment : |
16. 01. 2002 |
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Name : |
Gyan Singh Negi |
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Designation : |
Director |
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Address : |
434-Kamal Vihar Apartment,Sector-7, Dwarka, New Delhi-110075 |
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Date of Birth/Age : |
14.11.1934 |
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Date of Appointment : |
16.01.2002 |
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Name : |
Ms. Rachana Joshi |
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Designation : |
Director |
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Address : |
U-24/4, DLF Qutab Enclave, Phase-3, Gurgaon-122002, Haryana. |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2007
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Names of Shareholders |
No. of Shares |
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Joshi Bhuwan C. |
34000 |
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Negi Gyan Singh |
15500 |
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Joshi Rachana B. |
500 |
AS ON 30.09.2007
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Equity Share
Breakup |
Percentage of
Holding |
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Category |
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Directors or relatives of directors |
100% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Electronic Communication System |
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Products : |
v
Server Racks,
Computer Server Racks v
Equipment Racks for
telecom v
Open Racks, Cyber
Racks, Telecom Racks v
Cable Assemblies,
Connectors, Connnectorised Cables, Co-axial, Fibre Cables v
Cable Trays v
DCDB ACDB v
Fan Trays v
Fibre Products, FMS,
FDF |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
40 |
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Bankers : |
v
Oriental Bank Of Commerce v
ICICI Bank v
Indian Bank |
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Facilities : |
CC (Oriental Bank of Commerce)- Rs.2.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K.C.Mishra and Company Chartered Accountants |
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Address : |
62A/6B, Laxmi Market, Near Canara Bank, Munirka, New Delhi-110067, |
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Tel. No.: |
26169188 |
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Memberships : |
Indo German |
CAPITAL STRUCTURE
AS ON 30.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- Each |
2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares(issued) |
Rs. 10/- Each |
0.500
millinon |
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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.440 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.205 |
0.708 |
0.623 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.145 |
1.208 |
1.123 |
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LOAN FUNDS |
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1] Secured Loans |
0.735 |
2.430 |
2.116 |
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2] Unsecured Loans |
0.605 |
0.390 |
0.000 |
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TOTAL BORROWING |
1.340 |
2.820 |
2.116 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.028 |
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TOTAL |
3.485 |
4.028 |
3.267 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.814 |
1.795 |
1.918 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.032 |
0.033 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.255
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0.460 |
0.426 |
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Sundry Debtors |
6.289
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5.470 |
1.921 |
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Cash & Bank Balances |
0.682
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0.901 |
0.940 |
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Other Current Assets |
0.432
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0.028 |
0.026 |
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Loans & Advances |
0.636
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0.915 |
1.024 |
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Total
Current Assets |
8.294
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7.774 |
4.337 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.336
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5.454 |
2.723 |
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Provisions |
0.327
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0.129 |
0.275 |
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Total
Current Liabilities |
7.663
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5.583 |
2.998 |
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Net Current Assets |
0.631
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2.191 |
1.339 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.009 |
0.010 |
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TOTAL |
3.485 |
4.028 |
3.267 |
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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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Total Income |
19.955 |
13.001 |
13.690 |
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Profit/(Loss) Before Tax |
0.881 |
0.219 |
0.708 |
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Provision for Taxation |
0.498 |
0.135 |
0.263 |
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Profit/(Loss) After Tax |
0.024 |
0.084 |
0.445 |
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Total Expenditure |
19.074 |
12.782 |
13.427 |
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 |
(%) |
0.12
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0.64 |
3.25 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.5
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1.68 |
5.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.90
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2.28 |
11.31 |
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Return on Investment (ROI) (PBT/Networth) |
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0.41
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0.18 |
0.63 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.19
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6.96 |
4.55 |
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Current Ratio (Current Asset/Current Liability) |
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1.08
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1.39 |
1.45 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
v
Air Conditioner
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Capitl Work in Progress
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Car
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Computer
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Cooler
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Fan
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Fax Machines
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Furniture Fixtures
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Generator
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Mobile Phone
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Motor Cycle
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Plant and Machinery
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Pump
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Scooter
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UPS
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Mineral Water Machine
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Batteries
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Photocopier
v
Land
Website
Details:
A
professionally managed and an ISO certified company. Subject, is primarily engaged
as a manufacturer and exporter of Server Racks, Computer Server Racks,
Equipment Racks, Cable Assemblies, Connectors 19” Sub Rack, Network Cables
& Equipments and various other Fiber Management System Boxes &
Accessories for Engineering, Networking and Power Distribution Equipments. The
company ever since its inception has gradually built a reputation for design,
quality workmanship, sounds engineering practices and timely delivery
commitments.
Products
Made of Sheet Steel, Aluminum Extrusions and Toughened Glass for Door, their
products are designed for optimum performance and offer compatibility and cost
minimization. They also offer sound quality, aesthetics durability and are
rugged for long term use. Some of the products are:
v Server Racks, Computer Server Racks
v Equipment Racks for telecom
v Open Racks, Cyber Racks, Telecom Racks
v Cable Assemblies, Connectors, Connnectorised Cables,
Co-axial, Fibre Cables
v Cable Trays
v DCDB ACDB
v Fan Trays
v Fibre Products, FMS, FDF
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.52 |
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1 |
Rs.75.54 |
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Euro |
1 |
Rs.63.12 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
YES |
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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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46 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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