MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENVIROTECH SYSTEMS PRIVATE LIMITED (w.e.f. 10.06.2009) |
|
|
|
|
Formerly Known
As : |
ENVIROTECH GENSETS PRIVATE LIMITED |
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Registered
Office : |
A-29, Block – A, Shyam Vihar, Phase-I, New Delhi-110043 |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
09.02.2007 |
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Com. Reg. No.: |
55-159075 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.000 Millions |
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|
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CIN No.: [Company Identification
No.] |
U31101DL2007PTC159075 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Acoustic
Products |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 32000 |
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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 a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
A-29, Block – A, Shyam Vihar, Phase-I, New Delhi-110043, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
B-1A/19, 1st Floor, Commercial Complex, Sector 51,
Noida-201307, Uttar Pradesh, India |
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Tel. No.: |
91-120-4337633 / 4224644 |
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Fax No.: |
91-120-4337439 |
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|
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|
Factory : |
14F, Mahila Udyami Park-II, Greater Noida-201305, Uttar Pradesh,
India |
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|
Sales Office : |
No.43/353, Vivekanander Street, Rajajipuram, Triuvellore-602001, India
|
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Branch Office : |
Located At
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DIRECTORS
AS ON 26.09.2012
|
Name : |
Mr. Manoj Kumar Gupta |
|
Designation : |
Director |
|
Address : |
C-7, Kendriya Vihar Sector -51, Gautam Budha Nagar, Noida-201301,
Uttar Pradesh, India |
|
Date of Birth/Age : |
21.06.1973 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
01187138 |
|
|
|
|
Name : |
Sindhu Gupta |
|
Designation : |
Director |
|
Address : |
C-7, Kendriya Vihar Sector -51, Gautam Budha Nagar, Noida-201301,
Uttar Pradesh, India |
|
Date of Birth/Age : |
10.08.1976 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
01190580 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2012
|
Names of Shareholders |
No. of Shares |
|
Manoj Kumar Gupta |
355000 |
|
Sindhu Gupta |
145000 |
|
TOTAL
|
500000 |
AS ON 26.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Acoustic
Products |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Small Industries Development Bank of India, c-60, Sector -2,
Noida-201301, Uttar Pradesh, India |
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Auditors : |
|
|
Name : |
Vishal Kaushal and Company Chartered Accountant |
|
Address : |
Z-320, Shop No.32, Amrapali commercial Complex, Sector-12,
Noida-201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2530387 |
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Mobile No.: |
91-9999101271 |
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E-Mail : |
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PAN No.: |
AAFFV0480L |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
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|
|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.300 |
0.300 |
|
|
3] Reserves & Surplus |
3.248 |
1.580 |
0.836 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.002) |
|
|
NETWORTH |
8.248 |
1.980 |
1.234 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
7.202 |
3.628 |
1.540 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
7.202 |
3.628 |
1.540 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
15.450 |
5.608 |
2.774 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
6.051 |
1.240 |
1.303 |
|
|
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 |
0.018 |
0.011 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.999
|
4.120 |
1.998 |
|
|
Sundry Debtors |
13.190
|
5.302 |
2.124 |
|
|
Cash & Bank Balances |
0.620
|
0.797 |
0.382 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
10.084
|
3.777 |
0.468 |
|
Total
Current Assets |
31.893
|
13.996 |
4.972 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.408
|
9.017 |
|
|
|
Other Current Liabilities |
0.281
|
0.272 |
3.513 |
|
|
Provisions |
0.823
|
0.350 |
0.000 |
|
Total
Current Liabilities |
22.512
|
9.639 |
3.513 |
|
|
Net Current Assets |
9.381
|
4.357 |
1.459 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
15.450 |
5.608 |
2.774 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
70.255 |
36.644 |
23.746 |
|
|
|
Other Income |
0.059 |
0.882 |
0.255 |
|
|
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TOTAL (A) |
70.314 |
37.526 |
24.001 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Value of Raw Material Consumed |
|
26.611 |
18.302 |
|
|
|
Manufacturing Expenses |
|
3.365 |
1.582 |
|
|
|
Administrative Expenses |
|
5.950 |
3.323 |
|
|
|
Selling and Distribution Expenses |
|
0.908 |
0.388 |
|
|
|
Preliminary Expenses W/Off |
|
0.006 |
0.006 |
|
|
|
Increase / (Decrease) in Stock |
|
(1.089) |
(0.775) |
|
|
|
TOTAL (B) |
67.441 |
35.751 |
22.826 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.873 |
1.775 |
1.175 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.342 |
0.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.873 |
1.433 |
0.995 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.389 |
0.348 |
0.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
2.484 |
1.085 |
0.681 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.815 |
0.341 |
0.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.669 |
0.744 |
0.462 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.579 |
0.835 |
0.373 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.248 |
1.579 |
0.835 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.33 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.37
|
1.98 |
1.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.54
|
2.96 |
2.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.54
|
7.12 |
10.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.55 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87
|
1.83 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.45 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
Registered office has been shifted from B-1180, G D Colony, Mayur Vihar,
Phase-III, Delhi-110096, India to the present address w.e.f. 01.07.2011.
FORM 8
|
Corporate
identity number of the company |
U31101DL2007PTC159075 |
|
Name of the
company |
ENVIROTECH
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-29, Block – A, Shyam Vihar, Phase-I, New Delhi-110043 |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Small Industries Development Bank of India, c-60, Sector -2, Noida-201301, Uttar Pradesh, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation And Declaration and
Undertaking For Mortgage |
|
Date of
instrument Creating the charge |
27.04.2012 |
|
Amount secured by
the charge |
Rs. 15.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest Will Be Charged
@ 1% Above SIDBI'S PLR, With Monthly Rests, Which At Present Comes To 13.75%
P.A. Terms of Repayment Repayment Will Be
Made Through 60 Monthly Installments of Rs. 0.250 Million After A Moratorium
Period of 12 From The Date Of First Disbursement. Margin 35% Extent and Operation of The Charge First Charge By
Way of Hypothecation On All Movable Assets, Including Plant And Machinery,
Mfas, Equipments, Spares, Tools, Accessories Etc. of The Company, Acquired
Under The Scheme/Project. First Charge By Way
of Equitable Mortgage of Immovable Properties of The Company Admeasuring 1000
Sq. Mtrs. Bearing Plot No. 12, Situated At Mahila Udyami Park, Ecotech-Iii,
Greater Noida, U.P. |
|
Short particulars
of the property charged (Including location of the property) |
First Charge By
Way of Hypothecation on All Movable Assets, Including Plant and Machinery,
Mfas, Equipments, Spares, Tools, Accessories Etc. of The Company, Acquired
Under The Scheme/Project. First Charge By
Way of Equitable Mortgage of Immovable Properties of The Company Admeasuring
1000 Sq. Mtrs. Bearing Plot No. 12, Situated At Mahila Udyami Park,
Ecotech-Iii, Greater Noida, U.P. |
FIXED ASSETS
- Air
Conditioner
- Car
- Computer
- Fan
- Fire Extiguiser
- Furniture and
Fixtures
- Generator
- Scooter
- Printer
- Machinery
Equipments
- Mobile and
Telephone
- Tea and
Coffee Machine
- Water Cooler
- Weighing
Machine
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 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 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. 54.64 |
|
|
1 |
Rs. 82.41 |
|
Euro |
1 |
Rs. 70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.