MIRA INFORM REPORT
|
Report No. : |
335009 |
|
Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
EYME TECHNOLOGIES PRIVATE LIMITED |
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|
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Registered
Office : |
1st Floor, Thejaswini Building, Technopark Campus, Kariavattom,
Trivandrum – 695581, Kerala |
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Tel. No.: |
91-471-3980808 / 2700064 / 3093227 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.08.2002 |
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Com. Reg. No.: |
09-015582 |
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Capital
Investment / Paid-up Capital : |
Rs.3.645 Millions |
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IEC No.: |
5302000105 |
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|
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CIN No.: [Company Identification
No.] |
U73100KL2002PTC015582 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
TVDE00072C |
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PAN No.: [Permanent Account No.] |
AABCE0308H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject provides IT, back office support, data processing services and other IT related support services. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “EYGI BV”, Netherlands. It is a
well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate net worth base along with zero debt balance sheet and decent profitability
margins of the company. Company also receives strong financial and managerial support from its
holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of healthy financial base, the company can be considered good
for normal 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Santosh |
|
Designation : |
Finance Department |
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Contact No.: |
91-471-3980808 |
|
Date : |
30.07.2015 |
LOCATIONS
|
Registered Office : |
1st Floor, Thejaswini Building, Technopark Campus,
Kariavattom, Trivandrum – 695581, Kerala, India |
|
Tel. No.: |
91-471-3980808 / 2700064 / 3093227 |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Binu Koshy Kottamukalil |
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Designation : |
Director |
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Address : |
Kottamukalil House, Kannankode,, Adoor P O, Pathanamthitta - 691526, Kerala, India |
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Date of Birth/Age : |
20.08.1968 |
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Date of Appointment : |
12.08.2002 |
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DIN No.: |
01462710 |
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Name : |
Mr. Timothy Cecil Eddy |
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Designation : |
Director |
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Address : |
67 Chester Row, London S W I W 8 JL, London, 67, United Kingdom |
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Date of Appointment : |
16.12.2010 |
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DIN No.: |
03184974 |
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Other Directorship:
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Name : |
Mr. Philip Dennis Stanton |
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Designation : |
Director |
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Address : |
Way Number 2824, Villa 26, Post Box 1750, Muscat, 112, Oman |
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Date of Birth/Age : |
26.11.1962 |
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Date of Appointment : |
30.09.2011 |
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DIN No.: |
03418508 |
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Other Directorship:
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Name : |
Mr. Malavika Nathan Garg |
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Designation : |
Director |
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Address : |
28853 Woodmill Dr, Westlake, Ohio, 441452089, United States of America |
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Date of Birth/Age : |
30.08.1959 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
03634006 |
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Other Directorship:
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Name : |
Mr. Thomas Xavier |
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Designation : |
Whole Time Director |
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Address : |
Ettuparayil House, Collectorate Post, Kottaya – 686002, Kerala, India |
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Date of Appointment : |
20.11.2014 |
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DIN No.: |
07022686 |
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Name : |
Mr. Richard Antony Puthukkatukaran |
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Designation : |
Whole Time Director |
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Address : |
Heera Vasthu Hills, Villa 33c, Althara JN, Chavadimukku, Sreekariyam,
Trivandrum – 695017, Kerala, India |
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Date of Appointment : |
20.11.2014 |
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DIN No.: |
07024046 |
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KEY EXECUTIVES
|
Name : |
Mr. Santosh |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
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No. of Shares |
|
Eygi BV, Netherlands |
|
364509 |
|
Eygs LLP, United Kingdom |
|
1 |
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|
|
|
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Total |
|
364510 |
AS ON 29.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject provides IT, back office support, data processing services and other IT related support services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
\
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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Name : |
MZSK & Associates Chartered Accountants |
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Address : |
Level 9, The Ruby, North West Wing, Senapati Bapat Road, Dadar (West), Mumbai – 400028, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK3470E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
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CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9550000 |
Equity Shares |
Rs.10/- each |
Rs.95.500 Millions |
|
4500 |
Preference Shares |
Rs.1000/- each |
Rs.4.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
364510 |
Equity Shares |
Rs.10/- each |
Rs.3.645 Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.645 |
3.645 |
3.645 |
|
(b) Reserves & Surplus |
675.294 |
483.748 |
324.892 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
678.939 |
487.393 |
328.537 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
57.848 |
33.184 |
16.544 |
|
Total Non-current
Liabilities (3) |
57.848 |
33.184 |
16.544 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
678.796 |
551.219 |
183.308 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
44.709 |
|
(d) Short-term
provisions |
65.011 |
53.577 |
33.859 |
|
Total Current
Liabilities (4) |
743.807 |
604.796 |
261.876 |
|
|
|
|
|
|
TOTAL |
1480.594 |
1125.373 |
606.957 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
568.942 |
230.338 |
141.537 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
10.336 |
164.504 |
32.673 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
41.054 |
47.838 |
44.795 |
|
(d) Long-term Loan and Advances |
69.778 |
85.598 |
27.519 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
690.110 |
528.278 |
246.524 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
355.383 |
241.009 |
263.552 |
|
(d) Cash
and cash equivalents |
285.945 |
248.999 |
24.720 |
|
(e)
Short-term loans and advances |
46.002 |
16.609 |
10.977 |
|
(f) Other current
assets |
103.154 |
90.478 |
61.184 |
|
Total
Current Assets |
790.484 |
597.095 |
360.433 |
|
|
|
|
|
|
TOTAL |
1480.594 |
1125.373 |
606.957 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2533.540 |
1679.370 |
1040.160 |
|
|
|
Other Income |
23.330 |
3.100 |
1.220 |
|
|
|
TOTAL |
2556.870 |
1682.470 |
1041.380 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
2298.540 |
1466.660 |
879.760 |
|
|
|
|
|
|
|
|
|
|
NET
PROFIT/(LOSS) TAX |
258.330 |
215.810 |
161.620 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2522.462 |
1650.757 |
1026.042 |
|
|
|
|
|
|
|
|
|
|
IMPORTS –
CAPITAL GOODS |
158.414 |
77.124 |
26.367 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
708.70 |
-- |
-- |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
334.658 |
479.046 |
39.602 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
10.20 |
12.85 |
15.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
0.99 |
1.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
3.645 |
3.645 |
3.645 |
|
Reserves & Surplus |
324.892 |
483.748 |
675.294 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
328.537 |
487.393 |
678.939 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1040.160 |
1679.370 |
2533.540 |
|
|
|
61.453 |
50.863 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1040.160 |
1679.370 |
2533.540 |
|
Profit |
161.620 |
215.810 |
258.330 |
|
|
15.54% |
12.85% |
10.20% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
NO CHARGES EXIST FOR COMPANY.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.93 |
|
|
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.