MIRA
INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
EAST INDIA TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
2584 Rohtangi Mansion, Hamilton Road, Kashmere Gate, Delhi -110006 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.03.1996 |
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Com. Reg. No.: |
55-077568 |
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Capital
Investment / Paid-up Capital : |
Rs.43.771 Millions |
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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 (49) |
|
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 1170000 |
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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 an established company having satisfactory track. Trade
relations are reported fair. Business is active. Payments are reported to be usually correct
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
LOCATIONS
|
Registered
Office / Corporate Office : |
2584 |
|
Tel. No.: |
91-11-23916862 / 23974876 |
|
Mobile No.: |
91-9818666080 (Ms. Neha Bothra) |
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Fax No.: |
91-11-23953687 |
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E-Mail : |
ahmedfca@gmail.com
/ eitpl@eitpl.com / pkjain@eippl.com / rajat@eitpl.com |
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Website : |
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Corporate Office : |
E -19 and 20, Surajpur Industrial Area, Site B, Greater Noida, |
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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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Works 1 : |
East India
Technologies Private Limited |
|
Address : |
E -19 and 20, Surajpur Industrial Area, Site B, Greater Noida, |
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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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Works 2 : |
E – Pack Polymers Private Limited |
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Address : |
61B, Udyog Vihar, Greater Noida, |
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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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Website : |
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Works 3 : |
E – Durables |
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Address : |
B1, UPSIDC Industrial Area, Selaqui, Dehradun (Uttarakhand), |
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Tel. No.: |
91-135-2698577 |
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Fax No.: |
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Website : |
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Works 4 : |
East India
Technologies Private Limited |
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Address : |
E-22-26, Surajpur Industrial Area, Site B, Greater Noida, |
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Tel. No.: |
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Works 5 : |
East India
Technologies Private Limited |
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Address : |
B1, UPSIDC Industrial Area, Selaqui, Dehradun, |
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Tel. No.: |
91-135-2698577 |
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Website : |
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Works 6 : |
East India
Technologies Private Limited |
|
Address : |
Kammanahally, |
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E-mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr.Bajrang Lal Bothra |
|
Designation : |
Managing Director |
|
Address : |
B-114, Sector-40, Noida, |
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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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DIN No.: |
00129286 |
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Name : |
Mrs. Punam Chand Bothra |
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Designation : |
Director |
|
Address : |
B-114, Sector-40, Noida, |
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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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DIN No.: |
00327822 |
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|
|
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Name : |
Mr. Laxmi Pat Bothra |
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Designation : |
Director |
|
Address : |
B-116, Sector-40, Noida, |
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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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DIN No.: |
00130593 |
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Name : |
Mrs. Suman Devi Bothra |
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Designation : |
Director |
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Address : |
B-116, Sector-40, Noida, |
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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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DIN No.: |
00131085 |
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|
|
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Name : |
Mr. Rajat Bothra |
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Designation : |
Director |
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Address : |
B-114, Sector-40, Noida, |
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Date of Birth/Age : |
29.08.1982 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
01044231 |
KEY EXECUTIVES
|
Name : |
Mr. Neeraj Purshotam Tulshyan |
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Designation : |
Secretary |
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Address : |
A-24, Ramesh Nagar, |
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Date of Birth/Age : |
16.08.1972 |
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Date of Appointment : |
20.03.2008 |
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PAN No. : |
ACRPA8863A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Bajrang Lal Bothra |
1750964 |
|
Mrs. Punam Chand Bothra |
56242 |
|
Mr. Laxmi Pat Bothra |
1530120 |
|
Mrs. Suman Devi Bothra |
220584 |
|
Bothra Manufacturing Company
Private Limited, Kolkata, West |
778000 |
|
Mr. Amod Kumar Bhutoria |
100 |
|
Mrs. Kankwari Devi Bothra |
21000 |
|
Mr. Hardya Bothra |
10000 |
|
Mr. Nitin Bothra |
10000 |
|
Others |
120 |
|
Total |
4377130 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
18.00 |
|
Directors or relatives of Directors |
82.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Thermocol Moulding and sheets, PCB/MPEG Card |
|
|
|
|
Products : |
Product
Description : Thermocol Moulding and sheets, PCB/MPEG Card Item Code No.
(ITC Code) : 392310.00/851790.10 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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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, Naiwala, Karol Bagh, |
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PAN.: |
AAFFA5572Q |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4377130 |
Equity Shares |
Rs.10/- each |
Rs.43.771 Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
43.771 |
42.771 |
33.739 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
248.782 |
200.891 |
128.517 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
292.553 |
243.662 |
162.256 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
467.759 |
350.669 |
339.325 |
|
|
2] Unsecured Loans |
45.356 |
60.025 |
14.804 |
|
|
TOTAL BORROWING |
513.115 |
410.694 |
354.129 |
|
|
DEFERRED TAX LIABILITIES |
3.118 |
3.002 |
3.002 |
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|
|
|
|
|
|
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TOTAL |
808.786 |
657.358 |
519.387 |
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APPLICATION OF FUNDS |
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|
|
|
|
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|
|
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FIXED ASSETS [Net Block] |
441.627 |
440.361 |
350.536 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
65.297 |
|
|
|
|
|
|
|
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INVESTMENT |
0.500 |
0.500 |
0.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.664
|
218.100
|
49.908 |
|
|
Sundry Debtors |
236.104
|
145.332
|
78.703 |
|
|
Cash & Bank Balances |
76.751
|
21.664
|
7.567 |
|
|
Other Current Assets |
23.136
|
35.389
|
37.165 |
|
|
Loans & Advances |
60.995
|
40.013
|
23.018 |
|
Total
Current Assets |
580.650
|
460.498 |
196.361 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
NA
|
NA
|
NA |
|
|
Provisions |
8.375
|
NA
|
NA |
|
Total
Current Liabilities |
213.991
|
244.001 |
93.307 |
|
|
Net Current Assets |
366.659
|
216.497
|
103.054 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
808.786 |
657.358 |
519.387 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
Total Income |
2837.974 |
1197.140 |
614.487 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX, DEPRECIATION |
83.074 |
71.515 |
0.000 |
|
|
|
|
|
|
|
|
DEPRECIATION |
31.679 |
29.680 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
51.395 |
41.835 |
16.940 |
|
|
PROVISION FOR TAXATION |
7.503 |
5.590 |
0.844 |
|
|
PROFIT/(LOSS)
AFTER TAX |
43.892 |
36.245 |
10.395 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
-- |
85.156 |
-- |
|
|
|
|
|
|
|
|
Total Expenditure |
2786.579 |
1155.305 |
597.547 |
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
10.03 |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.55
|
3.03 |
1.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.03
|
4.64 |
3.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.17 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
2.69 |
2.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.71
|
1.89 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE :
The turnover of the company during the year has Increased by 136.81%
over the previous year. The turnover for current financial year is Rs.2833.500
Millions (Previous year Rs.1196.500 Millions). They Feel proud to inform you
that now the company becomes direct exporter to the developed countries like
FUTURE PROSPECTUS
:
During the year they received order of Five Lacs Colour Television from
ELCOT (An Enterprises of Tamilnadu Government) which further increased to Six
lacs Seventy Thousands Colour Television based on their performance, they
received the order from YAMAHA MOTORS, CARRIER AIRCONDITIONS, WHIRLPOOL and now
are their regular customer for their EPS requirement. They have order in
repetitive nature from their other valued customers are growing by 20-30%. They
are confident to register the growth of 20% during the financial year 2010-2011
in Packing segment where as we may see degrowth in electronics division because
of less quantities by ELCOT order.
FIXED ASSETS :
- Land
- Building
- Plant and
Machinery
- Air
conditioner
- Dies and
Moulds
- Computer
- Vehicles
- Cars
- Bicycle
FORM 8 :
|
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 |
2584 E-Mail Id : ahmedfca@gmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90037212 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank Of Commercial Branch, M-47, Connaught Circus Branch, E-Mail Id : pandevijay@yahoo.co.in
|
|
Nature of instrument
creating charge |
|
|
Date of instrument
Creating the charge |
14.07.2011 |
|
Amount secured by
the charge |
Rs.620.700 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per agreement Terms of Repayment Existing Term Loan would be repayable as per existing schedule and
proposed Corporate loan is proposed to be repaid in 27monthly installments
staring from 30.04.2012 and last 30.06.2014 Margin
Extend and operation of the
charge 100% Others The above is to secure the credit facilities of Rs.620.700 Millions
i.e. CC ( Hypothecation of stocks) Rs.130.000 Millions , CC (Book
Debts)(Rs.130.000 Millions), Term Loan - I Rs.100.00 Millions, Term Loan – II
Rs.20.000 Millions, Corporate Loan – I Rs.6.700 Millions, Corporate Loan –
II(New) Rs.40.000 Millions, BG($) Rs.20.000 Millions, BG (One time) Rs.90.000
Millions, LC($) Rs.150.000 Millions, Buyer’s Credit (within LC) (Rs.150.000
Millions), LC (within Term Loan II) (Rs.12.800 Millions), LC(Capex) / Buyers
Credit Rs.9.000 Millions, Forward Contract Limit of Rs.10.000 Millions and
SLC of Rs.45.000 Millions Granted by the Bank to the company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
(i)
Equitable
Mortgage of factory land and building situated at E-19, Surajpur Industrial
Area, Greater Noida measuring area 2147 Sq Mtrs. (ii)
Equitable
Mortgage of Plot No.E-20, Surajpur Industrial Area, Greater Noida Uttar
Pradesh, India Measuring area 3009 Sq. Mtrs (iii)
Equitable
Mortgage of Plot No.E-22-26, Surajpur Industrial Area, Greater noida,
(i)
For
FBWC :Extension of charge on entire fixed assets of the company (ii)
Term
Loan : Extension of charge on the entire current assets of the company. |
|
Date of
instrument modifying the charge |
01.10.2010 |
|
Particulars of
the present modification |
The various facilities stands enhanced from Rs.609.800 Millions
Rs.620.700 Millions i.e. CC ( Hypothecation of stocks) Rs.130.000 Millions ,
CC (Book Debts)(Rs.130.000 Millions), Term Loan - I Rs.100.00 Millions, Term
Loan – II Rs.20.000 Millions, Corporate Loan – I Rs.6.700 Millions, Corporate
Loan – II(New) Rs.40.000 Millions, BG($) Rs.20.000 Millions, BG (One time)
Rs.90.000 Millions, LC($) Rs.150.000 Millions, Buyer’s Credit (within LC)
(Rs.150.000 Millions), LC (within Term Loan II) (Rs.12.800 Millions),
LC(Capex) / Buyers Credit Rs.9.000 Millions, Forward Contract Limit of
Rs.10.000 Millions and SLC of Rs.45.000 Millions As security Column No.15 |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.09 |
|
|
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.