MIRA
INFORM REPORT
|
Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EAST INDIA TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
2584 Rohtagi Mansion, Hamilton Road, Kashmere Gate, Delhi -110006. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.03.1996 |
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Com. Reg. No.: |
077568 |
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CIN No.: [Company
Identification No.] |
U25202DL1996PTC077568 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE01502E |
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PAN No.: [Permanent
Account No.] |
AAACE2104Q |
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Legal Form : |
Private limited liability Company |
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Line of Business : |
Manufacturer of Thermocol Moulding and sheets, PCB/MPEG Card |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 770000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Financial position is satisfactory. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
2584 Rohtagi Mansion, Hamilton Road, Kashmere Gate, Delhi -110006. |
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Tel. No.: |
91-11-23916862 / 23974876 |
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Fax No.: |
91-11-23953687 |
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E-Mail : |
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Website : |
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Corporate Office : |
E -19 and 20, surajpur Industrial Area, Site B, Greater Noida, Uttar
Pradesh. |
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Tel. No.: |
91-120-2569381 / 2560450 |
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Fax No.: |
91-120-2569836 |
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E-Mail : |
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Factory 1 : |
Opposite Meenekshi Temple, Survey No.17, Near Noble Layout,
Bannergahta Road, Bangalore – 560076, India
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E-Mail : |
eitpl@eitpl.com |
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E – Pack Polymers Private Limited |
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Address : |
61B, Udyog Vihar, Greater Noida, Uttar Pradesh, India. |
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Tel. No.: |
91-120-2569381 / 2560450 |
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Fax No.: |
91-120-2569836 |
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E-Mail : |
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E – Durables |
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Address : |
B1, UPSIDC Industrial Area, Selaqui, Dehradun (Uttarakhand), India. |
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Tel. No.: |
91-135-2698577 |
DIRECTORS
|
Name : |
Mr.Bajrang Lal Bothra |
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Designation : |
Managing Director |
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Address : |
MD-69, Pitampura, Delhi - 110034 |
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Date of Birth/Age : |
04.05.1957 |
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Date of Appointment : |
26.03.1996 |
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Name : |
Mrs. Poonam Chand Bothra |
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Designation : |
Director |
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Address : |
MD-69, Pitampura, Delhi - 110034 |
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Date of Birth/Age : |
07.03.1936 |
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Date of Appointment : |
26.03.1996 |
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Name : |
Laxmi Pat Bothra |
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Designation : |
Director |
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Address : |
MD-69, Pitampura, Delhi - 110034 |
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Date of Birth/Age : |
09.11.1961 |
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Date of Appointment : |
26.03.1996 |
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Name : |
Suman Devi Bothra |
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Designation : |
Director |
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Address : |
MD-69, Pitampura, Delhi - 110034 |
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Date of Birth/Age : |
14.06.1965 |
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Date of Appointment : |
26.03.1996 |
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Name : |
Rajat Bothra |
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Designation : |
Director |
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Date of Birth/Age : |
29.08.1982 |
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Date of Appointment : |
01.06.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders ( As on 31.03.2007 ) |
|
No. of Shares |
|
Bajrang Lal Bothra |
|
10,74,544 |
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Poonam Chand Bothra |
|
3,63,355 |
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Laxmi Pat Bothra |
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7,85,937 |
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Suman Devi Bothra |
|
14,974 |
|
Bothra Manufactring Company Private Limited |
|
80,000 |
|
A K Bhutoria |
|
100 |
|
Kankwari Devi Bothra |
|
21,000 |
|
Hardya Bothra |
|
10,000 |
|
Nitin Bothra |
|
10,000 |
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Baid Stock Broking Services Private Limited |
|
80,000 |
|
BPO Finance and Investment Private Limited |
|
50,000 |
|
Carnex Vinimay Private Limited |
|
30,000 |
|
Gemco Engineering Industries Limited |
|
80,000 |
|
Magnate Capital Market Limited |
|
1,76,000 |
|
Maheshwar Credit and Fiscal Private Limited |
|
8,000 |
|
Maxxon Trading and Finvest Private Limited |
|
50,000 |
|
Mideast Vyapaar Private Limited |
|
20,000 |
|
Oven Business Private Limited |
|
100,000 |
|
Panchmukhi Properties limited |
|
1,30,000 |
|
Piccadily sales and Service Private Limited |
|
50,000 |
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Sharp Investment Limited |
|
90,000 |
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Stupendous Commodeal Private Limited |
|
50,000 |
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Unicon Suppliers Private Limited |
|
1,00,000 |
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Total |
|
33,73,910 |
BUSINESS DETAILS
|
Line of Business : |
Thermocol Moulding and sheets, PCB/MPEG Card |
GENERAL
INFORMATION
|
Bankers : |
v State Bank Of
India, Sector-18,Noida – 201301, Uttar Pradesh. v ICICI Bank v HDFC Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ahmad Shukla Jain and Associates Chartered Accountant |
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Address : |
203,926/1 Nai Wala, Karol Bagh, New Delhi, Delhi – 110006, India. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35,00,000 |
Equity Shares |
Rs. 10/- Each |
Rs.35.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
33,73,900 |
Equity Shares |
Rs. 10/-
Each |
Rs.33.739
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
|
33.739 |
19.379 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
120.096 |
52.192 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
153.835 |
71.571 |
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|
LOAN FUNDS |
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|
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1] Secured Loans |
|
320.455 |
105.526 |
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2] Unsecured Loans |
|
13.212 |
1.325 |
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TOTAL BORROWING |
|
333.667 |
106.851 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
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TOTAL |
|
487.502 |
178.422 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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352.582 |
108.305 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
0.500 |
0.500 |
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DEFERREX TAX ASSETS |
|
0.780 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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42.971 |
18.753 |
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Sundry Debtors |
|
67.575 |
63.579 |
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Cash & Bank Balances |
|
5.336 |
2.847 |
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Other Current Assets |
|
4.565 |
1.256 |
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Loans & Advances |
|
45.600 |
2.004 |
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Total
Current Assets |
|
166.047 |
88.439 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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32.407 |
18.822 |
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Provisions |
|
0.000 |
0.000 |
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Total
Current Liabilities |
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32.407 |
18.822 |
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Net Current Assets |
|
133.640 |
69.617 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
487.502 |
178.422 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
353.698 |
286.190 |
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Other Income |
|
0.111 |
0.000 |
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Total Income |
|
353.809 |
286.190 |
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Profit/(Loss) Before Tax |
|
11.307 |
12.412 |
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Provision for Taxation |
|
1.269 |
3.568 |
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Profit/(Loss) After Tax |
|
10.038 |
8.844 |
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Total Expenditure |
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347.829 |
265.185 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
2.84 |
3.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.19 |
4.33 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.48 |
7.78 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.07 |
0.17 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.38 |
1.75 |
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Current Ratio (Current Asset/Current Liability) |
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|
5.12 |
4.69 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
Bankers Charges
Report as per Registry
|
Name of the company |
EAST INDIA PACKAGING PRIVATE LIMITED |
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Presented
By |
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1) Date and description of instrument creating the change |
Agreement dated
05.04.2002 (Regd. on 03.05.2002 ) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.23.000
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
stock of Raw Material, stock-in-process,finished goods,Book Debts, Stores and
Spares. Equitable
Mortgage and First Charge over Factory Land and Building situated at E-19 and
20, Surajpur Industrial Area, Site B, Greater Noida, Uttar Pradesh. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @1.75% over SBAR
subject to minimum of 13.25 % p.a. Margin-LC-10%,
Bank Guarantee- 15% usual Bank charges.. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Commercial Branch, Sector-18, Noida. |
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6) Date and brief description of instrument modifying the charge |
Supplemental
Agreement of Loan for increase in overall limit (C1A) dated26.12.2005. Supplemental
Agreement of Hypothecation of Goods and Assets for increase in overall limit
(C-2A) dated 26.12.2005. Letter regarding
the grant of Individual limit Within the overall limit (C-5) dated 26.12.2005
|
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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. |
Previous
Modifactions:- Modified on
27.03.2004, 29.10.2004 (Regd.on 27.12.2004) to enhance the limit to Rs.85.500
millions and finally on 09.06.2005 to collaterally secured the said
facilities by way of equitable mortgage of factory land and Building situated
at E-22 to 26 Surajpur Industrial Area, Site B, Greater Noida (up) Present
Modification:- The various
credit facilities stand Enhanced from Rs 855.000 millions to Rs. 980.000
millions as follows:- Facility
Amount ( Rs. In Millions) Fund Based
WC
Existing Revised Cash credit (Hyp.
Of stock) 35 40 Stand by line of
credit (SLC) 5 12.50 FBWC
40 52.5 Non Fund Based LC
45 45 BG
0.5 0.5 NFB
45.5 45.5 Total
(FB+NFB)
85.5 98.0 Security :-
Primary ( i ) First
Hypothecation charge over the company’s stock of Raw Materials, Components,
Stock in process, stores and spares, Consumables stored in factory
premises/depots/godown and else where including those in transit and job works and all other current assets
of the company. (ii) First
hypothecation charge over the company’s all present and future book
debts/receivables. Collateral :- (i) Extension on
charge on the fixed assets of the company. (ii) Equitable
Mortgage of Factory Land and Building, situated at E-19, E-20, E-22, to 26
surajpur Industrial Area, Site B, Greater Noida, Uttar Pradesh admeasuring
2127 sq mtr.,3009 sq mtr. And 8700 sq mtr. each respectively. Rate of Interest
:- @1.50%below SBAR, effective rate 8.75% p.a. with monthly rest subject to
changes by RBI / Banks from time to time. Margin
:-RM/SIP/FG-25%,Book Debts – 40%,LC-5%, BG-25%. Other terms and
conditions remain same. |
|
This form is for |
Creation of
charge Modification of
charge |
|
Charge
identification number of the modified
|
|
|
Corporate
identity number of the company |
U25202DL1996PTC077568 |
|
Name of the
company |
EAST INDIA
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
2584 HAMILTON
ROAD ROHTANGI MANSION KASHMERE GATE DELHI INDIA 110006 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
UTTAR PRADESH
FINANCIAL CORPORATION |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
interest free loan in lieu of Trade Tax Differment under Trade Tax Loan Scheme Rs. 7.066 Millons. |
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Date of
instrument Creating the charge |
29.03.2007 |
|
Amount secured by
the charge |
Rs. 7.066
Millions. |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @24%
p.a.on delayed period only. Terms of
Repayment Repayment is due
on 31.05.2011 (whole amount) Margin Under trade tax
different scheme Extent and
Operation of the charge 2nd
charge on the fixed assets, Land, Building, Plant and Machinery situated at
plot no.E-19 and 20 Site B, Surajpur Industrial Area Greater Noida Uttar
Pradesh. Others |
|
Short particulars
of the property charged |
2nd
charge on the fixed assets, Land, Building, Plant and Machinery situated at plot
no.E-19 and 20 Site B, Surajpur Industrial Area Greater Noida Uttar Pradesh. Others |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces including
but not limited to: The Ctheirts, India Prisons Service, Interpol, etc.
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] Ctheirt 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 :
Their
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.
Their 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.46.96 |
|
UK Pound |
1 |
Rs.83.91 |
|
Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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
unfavtheirable 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 |
Unfavtheirable & favtheirable 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 |
|