MIRA INFORM REPORT
|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
E O S POWER INDIA PRIVATE LIMITED (w.e.f. 08.04.2010) |
|
|
|
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Formerly Known
As : |
CELETRONIX POWER INDIA PRIVATE LIMITED |
|
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Registered
Office : |
Unit 57, SDF II, Seepz, Andheri (East), Mumbai-400096, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
09.08.1985 |
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Com. Reg. No.: |
11-037094 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 131.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH1985PTC037094 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the manufacturing and selling Power supplies |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 610000 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “Fairplay Inc. Panama”. It is an established
company having a moderate track record. Company has been successful in wiping off its accumulated losses
recorded. The financial position is improving during 2012. Trade relations are improving. Business is active. Payments are
recorded as slow but correct. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Namdev Bhuvad |
|
Designation : |
Finance and Accounts Assistant |
|
Contact No.: |
91-22-67744000 |
|
Date : |
24.05.2013 |
LOCATIONS
|
Registered Office / Factory : |
Unit 57, SDF II, Seepz, Andheri (East), Mumbai-400096, Maharashtra,
India |
|
Tel. No.: |
91-22-67744000 |
|
Mobile No.: |
91-9223395782 (Mr. Tarun Babu) |
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Fax No.: |
91-22-28290242 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Balasubramanian Vishwanathan |
|
Designation : |
Director |
|
Address : |
105, Natasha, 1st Floor, Nikita Natasha Co-Operative
Housing Society, Amrut Nagar, Ghatkopar (West), Mumbai-400086, Maharashtra,
India |
|
Date of Birth/Age : |
02.06.1940 |
|
Date of Appointment : |
31.07.2007 |
|
DIN No.: |
01632095 |
|
|
|
|
Name : |
Mr. Vijay Bhanuidas Gujarathi |
|
Designation : |
Director |
|
Address : |
C-612, Dhiraj Kirti Link Road, Opposite Oriental Bank, Mith Chowky,
Malad (West), Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1972 |
|
Date of Appointment : |
20.01.2009 |
|
DIN No.: |
01685840 |
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|
|
|
Name : |
Mr. Werner Georg Bischoff |
|
Designation : |
Additional Director |
|
Address : |
Feldstrasse 8, Nalia 95119, Germany |
|
Date of Birth/Age : |
23.02.1943 |
|
Date of Appointment : |
01.11.2011 |
|
DIN No.: |
03363481 |
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|
|
|
Name : |
Mr. Ralph Thomas Bischoff |
|
Designation : |
Additional Director |
|
Address : |
Feldstrasse 8, Nalia 95119, Germany |
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Date of Birth/Age : |
28.08.1980 |
|
Date of Appointment : |
01.11.2011 |
|
DIN No.: |
03359121 |
KEY EXECUTIVES
|
Name : |
Mr. Namdev Bhuvad |
|
Designation : |
Finance and Accounts Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
E O S Power Panama Inc |
13099900 |
|
Celetronix International Limited |
100 |
|
Balasubramanian Vishwanathan |
1 |
|
Vijay Bhanudas Gujarathi |
1 |
|
TOTAL
|
13100002 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and selling Power supplies |
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Exports : |
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`Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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|
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2012)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Power Supplies |
Nos. |
354087 |
1260000 |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
VINAY Sanjay and Associates Chartered Accountant |
|
Address : |
17, Nityanand Nagar-2, Swami Nityanand Marg, Near Andheri Flyover,
Andheri (East), Mumbai-400069, Maharashtra, India |
|
PAN No.: |
AAAFV3693E |
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|
|
|
Holding Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13100002 |
Equity Shares |
Rs.10/- each |
Rs. 131.000
Millions |
|
|
|
|
|
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 |
131.000 |
131.000 |
131.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.872 |
(36.939) |
182.580 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(268.670) |
|
|
NETWORTH |
154.872 |
94.061 |
44.910 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
154.872 |
94.061 |
44.910 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
75.024 |
81.388 |
87.058 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
64.028
|
57.632 |
36.167 |
|
|
Sundry Debtors |
82.933
|
54.246 |
52.477 |
|
|
Cash & Bank Balances |
82.017
|
40.997 |
12.940 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
31.655
|
31.027 |
30.125 |
|
Total
Current Assets |
260.633
|
183.902 |
131.709 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
63.931
|
47.340 |
52.555 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
22.378 |
|
|
Provisions |
116.854
|
123.889 |
98.924 |
|
Total
Current Liabilities |
180.785
|
171.229 |
173.857 |
|
|
Net Current Assets |
79.848
|
12.673 |
(42.148) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
154.872 |
94.061 |
44.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
538.262 |
406.617 |
291.136 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
538.262 |
406.617 |
291.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
308.548 |
206.506 |
337.921 |
|
|
|
Employee benefits expense |
43.778 |
36.206 |
0.000 |
|
|
|
Other expenses |
124.590 |
108.446 |
0.000 |
|
|
|
Changes in inventories of finished goods & work-in-progress |
(7.378) |
(1.655) |
5.250 |
|
|
|
TOTAL |
469.538 |
349.503 |
343.171 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
68.724 |
57.114 |
(52.035) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
68.724 |
57.114 |
(52.057) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.912 |
7.963 |
7.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
60.812 |
49.151 |
(59.319) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
60.812 |
49.151 |
(59.598) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
491.042 |
360.573 |
248.039 |
|
|
TOTAL EARNINGS |
491.042 |
360.573 |
248.039 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
239.487 |
176.045 |
130.684 |
|
|
TOTAL IMPORTS |
239.487 |
176.045 |
130.684 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.65 |
3.75 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
11.30
|
12.09 |
(20.47) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.12
|
18.53 |
(27.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.52 |
(1.32) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.07 |
0.76 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
63.931
|
47.340 |
|
|
Creditors due small micro enterprises |
-- |
- |
2.692 |
|
Creditors due others |
-- |
-- |
49.863 |
|
TOTAL |
63.931
|
47.340 |
52.555 |
NOTE
Registered office
has been shifted from Unit 41, SDF II, Seepz-SEZ, Andheri (East),
Mumbai-400096, Maharashtra, India to the present address w.e.f. 12.11.2009
CORPORATE INFORMATION
Subject is a
private company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. The company is engaged in the manufacturing and selling
Power supplies. The company caters to international markets.
FIXED ASSETS
- Leasehold
Improvement
- Plant and
Machinery
- Furniture and
Fixtures
- Office
Equipments
- Vehicles
WEBSITE DETAILS
NEWS
EOS POWER INDIA
PRIVATE LIMITED ANNOUNCES THE RELEASE OF THE NEW EVC65 ENERGY STAR LEVEL V
ADAPTER SERIES
Mumbai, India,
February 28th, 2012— EOS Power Private Limited, the leading seller of
ultra miniature, high efficiency power supplies, announced today that it has
released its new EVC65 Series of High Efficiency Energy Star Level V adapter
products. The EVC65 Series of single output Class 2 adapter products offer
class leading specifications and features in a small package size.
The New (EVC)
Series of adapter products are produced in the EOS Power India manufacturing
facility which has received numerous Quality and manufacturing awards from
noted bodies such as Dun and Bradstreet, Elcina and Frost and Sullivan. EOS
Power has been working on new series of Energy Efficient Adapters and will
continue to expand the offering during 2012 with increases in power levels and
options of Medical and Class 1 products
The New (EVC)
series of Energy Efficient adapters add to the expanding portfolio of products
being offered by EOS Power India Private Limited to its existing and new
customer base globally. EOS Power is listening to our customers and market
demands and will continue to design and release technology leading products
throughout 2012.
The (EVC) Series
are available to order today from our Global distribution partners with samples
available free of charge for registered business opportunities. The (EVC)
series is a further evolution of the EOS brand of high technology power
solutions.
About EOS Power
Private Limited
EOS Power Private
Limited is a privately held Indian company providing power conversion
solutions, manufacturing and value added services to our Distribution and OEM
customers globally. EOS Power employs 450 direct and indirect employees
worldwide with principal offices in Mumbai, India and sales and support offices
on each continent.
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 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. 55.61 |
|
|
1 |
Rs. 84.18 |
|
Euro |
1 |
Rs. 71.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.