MIRA INFORM REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ECOTECH PTY LTD |
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Formerly Known As : |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
12.12.1980 |
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Legal Form : |
Proprietary Company |
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Line of Business : |
Servicing, Maintaining, Designing, Manufacturing, Installing
and commissioning ambient air, emissions, process and water quality
monitoring 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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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED
NAME
ECOTECH PTY LTD
ACN: 005 752 081
ABN: 32 005 752
081
CORPORATE
SEARCH
Incorporation Date: 12 DEC 1980
Registered Office
KNOXFIELD
VIC 3180
Registered Charges: 2
2020321
Registered 23 JUL 2010
Fixed
COMMONWEALTH BANK OF
92010
Registered 18 MAY 1990
Both Fixed & Floating
26 APR 1990
COMMONWEALTH BANK OF
Current Directors Total: 2
JUDITH ELIZABETH DAL SASSO – Appointed: 12 DEC 1980
DOB: 22 FEB 1944
ROBERT GIOVANNI DAL SASSO – Appointed: 12 DEC 1980
DOB: 01 OCT 1940
Share Structure - Classes Total: 1
ORD ORDINARY SHARES: 12 – Amount paid: $12
Shareholders Total: 2
ORD 6 - ROBERT GIOVANNI DAL SASSO
ORD 6 - JUDITH ELIZABETH DAL SASSO
BUSINESS
STRUCTURE
TRADING ADDRESS 1492 Ferntree Gully Rd
KNOXFIELD,
VIC 3180
TELEPHONE (613) 9730 7800
FACSIMILE (613) 9730 7899
BANK COMMONWEALTH BANK OF
EMPLOYEES 100
BACKGROUND
The subject was incorporated in
Operations have been established for 35 years.
OPERATIONS
The subject operates in the servicing, maintaining, designing, manufacturing, installing and commissioning ambient air, emissions, process and water quality monitoring systems.
The subject is a NATA/ISO17025 accredited for the operation and maintenance of ambient air and continuous emission monitoring systems and was first accredited in 1999. We operate the largest network of monitoring systems in the southern hemisphere consisting of more than 150 monitoring systems.
Equipment designed and manufactured by Ecotech includes:
Ambient air analysers,
Ambient air quality monitoring systems
Trace/background NCore ambient monitoring systems
Continuous emission monitoring systems
High volume air samplers
Low volume air samplers
Gas dilution calibration systems
Zero air generators
Data acquisition systems
Data collection, validation and reporting software
ADVERSE
A search of failed to trace any litigation listed against the subject at that date.
FINANCES
During the current investigation contact with the subjects Financial Controller was unable to be established. Despite messages being left, no reply has been received.
From the subjects most recently lodged financial statements, it is noted that for the financial year ended 30 June 2010 the subject recorded revenue of $21,690,275, which resulted in an operating profit before tax of $924,084 and an operating profit after tax of $652,559 representing a Net Profit Margin of 3.01%.
Below is a summary of the subject’s income results for the past two financial years.
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Ecotech Pty Ltd |
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As at 30 June 2010 |
As at 30 June 20090 |
Change (%) |
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Revenue |
$21,690,275 |
$23,118,268 |
-6.18% |
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Profit b/tax |
$924,084 |
$1,066,521 |
-13.36% |
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Profit a/tax |
$652,559 |
$1,031,827 |
-36.76% |
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Net Profit Margin |
3.01% |
4.46% |
-1.45% |
During fiscal 2010, the subject recorded Net Cashflows from operating activities totalling $2,482,362.
As at 30 June 2010 the subject recorded total current assets of $9,002,804. They included cash of $2,566,374, receivables of $2,246,388 and inventories of $3,891,575.
Current liabilities at the same date totalled $2,557,914 and included payables of $1,378,028 and provisions of $834,640.
As at 30 June 2010 the subject recorded Working Capital of $6,444,890 and a current ratio of 3.52 to 1 indicating strong liquidity levels.
Net Assets totalled $9,623,945 as at 30 June 2010. At this date, the subject further recorded a Debt to Equity ratio of 0.32 to 1 showing low levels of gearing.
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Ecotech Pty Ltd |
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As at 30 June 2010 |
As at 30 June 20090 |
Change (%) |
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Revenue |
$21,690,275 |
$23,118,268 |
-6.18% |
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Profit b/tax |
$924,084 |
$1,066,521 |
-13.36% |
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Profit a/tax |
$652,559 |
$1,031,827 |
-36.76% |
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Net Profit Margin |
3.01% |
4.46% |
-1.45% |
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Current Assets |
$9,002,804 |
$9,430,982 |
-4.54% |
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Non-Current Assets |
$3,695,553 |
$3,296,477 |
12.11% |
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Total Assets |
$12,698,357 |
$12,727,459 |
-0.23% |
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Current Liabilities |
$2,557,914 |
$2,985,157 |
-14.31% |
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Non-Current Liabilities |
$516,498 |
$326,788 |
58.05% |
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Total Liabilities |
$3,074,412 |
$3,311,945 |
-7.17% |
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Net Assets |
$9,623,945 |
$9,415,514 |
2.21% |
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Working Capital |
$6,444,890 |
$6,445,825 |
-0.01% |
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Current Ratio |
3.52 |
3.16 |
11.40% |
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Debt to Equity |
0.32 |
0.35 |
-9.18% |
TRADE
SURVEY
During the current investigation, contact with the subject’s principals was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
Operations have been established for 35 years.
For the financial
year ended 30 June 2010 the subject recorded revenue of $21,690,275, which resulted
in an operating profit before tax of $924,084 and an operating profit after tax
of $652,559 representing a Net Profit Margin of 3.01%.
During fiscal 2010,
the subject recorded Net Cashflows from operating activities totalling
$2,482,362.
As at 30 June 2010
the subject recorded Working Capital of $6,444,890 and a current ratio of 3.52
to 1 indicating strong liquidity levels.
Net Assets totalled
$9,623,945 as at 30 June 2010.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.