MIRA
INFORM REPORT
|
Report Date : |
18.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CYPRESS SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
C-470, Yogana Vihar, New Delhi-110092 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
08.08.2001 |
|
|
|
|
Com. Reg. No.: |
55-111962 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200DL2001PTC111962 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELC05155D/ DELC07341F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCC67788M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Providing all types of
engineered cabling systems, switching and routing systems and fire
suppression systems using gas agents etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 8000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Scale of activity is limited. Payments are however reported s
usually correct and as commitments. The company can be considered good for small to mediocre business
dealings. |
LOCATIONS
|
Registered Office : |
C-470, Yogana Vihar, New Delhi-110092, India |
|
Tel. No.: |
91-120-2575048 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
B-37, Sector 4, 2nd Floor, Noida, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4272669 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at:-
|
DIRECTORS
|
Name : |
Mr. Arun Kumar Sharma |
|
Designation : |
Director |
|
Address : |
121-B, Regent, Shipra Suncity, Indrapuram, Ghaziabad, Uttar Pradesh,
India |
|
Date of Birth/Age : |
01.01.1971 |
|
Date of Appointment : |
08.08.2001 |
|
|
|
|
Name : |
Mrs. Vandana Sharam |
|
Designation : |
Director |
|
Address : |
121-B, Regent, Shipra Suncity, Indrapuram, Ghaziabad, Uttar Pradesh,
India |
|
Date of Birth/Age : |
12.09.1973 |
|
Date of Appointment : |
07.06.2003 |
|
|
|
|
Name : |
Mr. Sanjiv Newton |
|
Designation : |
Director |
|
Address : |
House No. 2266, Sector-28, Faridabad, Haryana, India |
|
Date of Birth/Age : |
18.08.1960 |
|
Date of Appointment : |
08.08.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
|
No. of Shares |
|
Aurn Kumar Sharma |
|
5000 |
|
Vandana Sharma |
|
5000 |
|
Total |
|
10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 28.12.2007
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing all types of
engineered cabling systems, switching and routing systems and fire
suppression systems using gas agents etc. |
GENERAL
INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
S Mukharjee and Associates Chartered Accountant |
|
Address : |
304, Prestige Chambers, 15A/1, WEA, Karol Bagh, New Delhi-110005,
Idnia |
|
Tel. No.: |
91-11-25740586 |
|
Fax No.: |
91-11-25768411 |
CAPITAL STRUCTURE
As on 28.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.065 |
|
|
3] Reserves & Surplus |
1.508 |
0.455 |
0.205 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.608 |
0.555 |
0.370 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.398 |
0.496 |
0.000 |
|
|
2] Unsecured Loans |
1.078 |
0.000 |
0.523 |
|
|
TOTAL BORROWING |
1.476 |
0.496 |
0.523 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.084 |
1.051 |
0.893 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.602 |
1.602 |
0.554 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.520 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.714
|
2.236 |
0.378 |
|
|
Sundry Debtors |
3.969
|
1.091 |
1.809 |
|
|
Cash & Bank Balances |
1.407
|
1.452 |
0.080 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.565
|
0.621 |
0.283 |
|
Total
Current Assets |
7.655
|
5.400 |
2.550 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
12.988
|
5.652 |
2.101 |
|
|
Provisions |
0.705
|
0.299 |
0.110 |
|
Total
Current Liabilities |
13.693
|
5.951 |
2.211 |
|
|
Net Current Assets |
[6.038]
|
[0.551] |
0.339 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.084 |
1.051 |
0.893 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
37.417 |
10.147 |
5.497 |
|
|
Other Income |
1.542 |
0.896 |
0.009 |
|
|
Total Income |
38.959 |
11.043 |
5.506 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
1.761 |
0.329 |
0.175 |
|
|
Provision for Taxation |
0.708 |
0.049 |
0.052 |
|
|
Profit/(Loss) After Tax |
1.053 |
0.250 |
0.123 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
1.523 |
[1.860] |
[0.265] |
|
|
Depreciation & Amortization |
0.405 |
0.333 |
0.175 |
|
|
Other Expenditure |
35.270 |
12.241 |
5.526 |
|
Total Expenditure |
37.198 |
10.714 |
5.331 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.70
|
2.26 |
2.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.71
|
3.24 |
3.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.02
|
4.69 |
5.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.09
|
0.59 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.43
|
11.62 |
7.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.56
|
0.91 |
1.15 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
COMPANY PROFILE:
Subject was formed in the year 2000 with prime focus on providing data
and voice cabling its rightful place as the most important and engineered
foundation to any state of the art network. During the times when network
cabling had already started loosing its value and was being branded as a ‘run
of the mill’ job, Cypress intervened to educate its customers that the network
foundation which costs just 5% of the total network investment of an
organization actually plays a major role in deciding upon the ultimate
efficiency, scalability and protection of investment.
Cypress’s popularity and acceptance as a value added partner by its
customers, gave strength to the organization to look forward and build a team
to focus on building Cypress as a one stop provider, for customers absolute
networking infrastructural requirements.
Cypress’s Deliverables – Cypress works on the philosophy of achieving
total customer satisfaction by providing the customers with the much required
value engineering right through the phases of designing of complex networks to
procurement and Implementation of solutions which are driven by the customer’s
requirements of the present, scalable towards the future.
Cypress boasts as being the first system integrator to have introduced a rare
convergence of IP networks with the ever so conventional building automation
systems.
Data Centre designs and Implementation is a major focus area of Cypress
in the present scenario, where the organization is all geared up to provide its
customers with
- Engineered Cabling Systems.
- Switching and Routing Systems
- Network Security Systems.
- Intelligent Access Control Systems.
- Surveillance Systems.
- Video Storage Systems.
- Aspiration and Intelligent Fire Detection
Systems.
- Fire Suppression Systems Using Gas
Agents.
- False Flooring For Data Centers.
- Intelligent Network Racks.
Cypress’s Team – Cypress has worked hard to create and retain a team
of Intelligent and innovative professionals. The core team of leaders are led
by professionals with experience of over a decade and a half the in the
Networking Industry.
NETWORK
CONSULTANCY:
Subject offers comprehensive services in referral to Network Consulting Services. With the
help of the services even smaller organizations can come up equal in terms of
technology with the larger enterprises. They ameliorate knowledge communication
and prompt deliveries with the class network management consulting. They let
the clients avail head-to-toe services through the network management
consulting with a wide coverage of maximum business aspects.
The expert team offers complete network consulting and network support
services. Receiving the right expertise from a network consultant at a critical
stage of a small business life can help you get to the next level.
Here, you will find solutions for one-time network consulting, second
level support to complement the IT staff, part-time or full time network
outsourcing solution tailored to small business and onsite and remote network
management.
Cypress’s Deliverables
- Desiging and
Implementing Local Area Network and Integrating various locations of a
Corporate House over a Wide Area Network.
- Remote
network management through Cypress’s state of the art Network Operating
Centre utilizing the most efficient Network Monitoring tools backed
up with resources with more than a decade and half long experience in
network monitoring.
- Design and
Develop a Network solution to best fit the customer’s environment and
ensure future growth without compromising on technology.
- Reduction of
the total cost of ownership for all assets within data center through
proper planning of growth projection, server consolidation and scalability
preparation.
- The combined
group of engineers and partners offer expertise in various O/S platforms.
Together they are able to develop the most concise pathways for any
platform migration you may be planning.
- They work
closely with 3rd party software vendors to ensure the Server Hardware and
peripherals are meeting all necessary compatibility requirements for
upgrades / revisions of applications.
- CYPRESS has a
highly experienced team in network and system security from the
desktop to the global enterprise. UTM, Firewalls, Virtual Private
Networks, data protection, and remote access are just some of the areas in
which the technicians have expertise. Through the partners they are also
able to offer 24X7 network monitoring.
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.46.34 |
|
UK Pound |
1 |
Rs.82.96 |
|
Euro |
1 |
Rs.65.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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 |
|