MIRA INFORM REPORT
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Report Date : |
28TH April, 2006 |
IDENTIFICATION DETAILS
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Name : |
D
R INDUSTRIES |
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Registered Office : |
No. 145/252, 14th
Cross, Sri Gandhadakaval, Sunkadakatte, (Behind Jai Maruthi Tent), Bangalore
– 560091, Karnataka |
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Country : |
India |
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Date of Incorporation : |
1986 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer,
Importer and Exporter of Perforated Sheets and Cable Trays All Metals (M. S.
Crca. , G. I., S.S., Copper, Phos Bronze, Aluminium, Tin, PVC etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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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 small concern in its filed. Trade relations are fair. Payments are
usually correct and as per commitments.
Nothing
adverse reported. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered/Head Office : |
No. 145/252, 14th
Cross, Sri Gandhadakaval, Sunkadakatte, (Behind Jai Maruthi Tent), Bangalore
– 560091, Karnataka |
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Tel. No.: |
91-80-23489686/23485325/23488889 |
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Fax No.: |
91-80-23488889 |
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E-Mail : |
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Area : |
1000
Sq. ft |
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Location : |
Owned
|
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Factory 1 : |
No. 145/252, 14th
Cross, Sri Gandhadakaval, Sunkadakatte, (Behind Jai Maruthi Tent), Bangalore
– 560091, Karnataka |
|
Tel. No.: |
91-80-23489686/23485325/23488889 |
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Fax No.: |
91-80-23488889 |
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E-Mail : |
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Area : |
9000
Sq. ft |
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Location : |
Owned
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PARTNERS
|
Name : |
Mr.
Deendayal Sharma |
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Designation : |
Partner
|
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Mobile No.: |
91-9845019390 |
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|
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Name : |
Mr.
H D Sharma |
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Designation : |
Partner
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BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Importer and Exporter of Perforated Sheets and Cable Trays All Metals (M. S.
Crca. , G. I., S.S., Copper, Phos Bronze, Aluminium, Tin, PVC etc. |
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Products: |
Perforated Sheet of MS, CRCA, G.I.,
S.S., Copper, Phospher, Bronze, Aluminum, Tin, PVC etc. |
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Exports to : |
Asian
Market |
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Terms : |
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Selling : |
Credit
(15 to 30 days) |
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Purchasing : |
Credit
(30 days) |
GENERAL INFORMATION
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Suppliers : |
v
Steel Distributors,
Bangalore v
Steel House, Bangalore
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Customers : |
Bharat
Heavy Electricals Limited |
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No. of Employees : |
22 |
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Bankers : |
State
Bank of Hyderabad, Rajajinagar Branch, Bangalore – 560010, Karnataka |
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Facilities : |
-- |
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Banking Relations : |
-- |
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Auditors : |
Mr.
Prakash Chartered
Accountant |
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Associates/Subsidiaries
: |
Sharma
Industries |
CAPITAL STRUCTURE
Nil
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
0.300 |
0.200 |
0.100 |
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Profit/Loss for the year |
7% |
NA |
NA |
Job
Work
31.03.2006
– Rs. 2.000 Millions, 31.03.2005 – Rs. 1.500 Millions, 31.03.2004 – Rs. 1.200
Millions
Inventories
Level – Rs. 0.100 Millions
LOCAL AGENCY FURTHER INFORMATION
About
Us:
They, D.R.Industries founded
in 1982 and since then have been engaged with sheer hard work in design and
development of perforated metals from thin to thick sheets. They make use of
materials such as Stainless Steel, HR, CRCA, Aluminum, Copper Brass, Paper, GI.
They can perforate all shapes of holes of desired requirement. They also
undertake perforation with embossing. They have the capacity to punch upto 5
feet width to 20 feet length sheet of thickness less than 3 mm.
They have become one of the largest manufacturer of
Perforated Sheets of M.S., CRRA, G.I., S.S., Copper, Phosphor, Bronze,
Aluminum, Tin, PVC etc. They can perforate sheets upto 15 mm in M.S., 8 mm in
Stainless Steel. The thickness ranges from 1.2 to 170 mm.
They have the ability to meet the specific and special
needs due to their own design department. They follow IS 2405 (Part II) 1980
revised standard for all their products. They have a well-equipped
manufacturing unit with sophisticated special purpose machines and a team of
qualified Engineers and Technicians to meet any challenging job.
They serve the requirements of Sugar Factories, Paper
Mills, Chemical & Drug Industries, Automobile, Acoustic Industries, Speaker
manufacturing Plates for Crushers, Blur Metal Industries, Electrical Industries
and leading Interior Decorators. They have always adhered to stringent quality
procedures of production and flawless deliveries within committed time frames.
Beside all these, they supply their products to large and medium scale
industries including leading Public Sector Units. Their Clientele are :
·
BHEL All Units
·
ITI Bangalore
·
BEML Bangalore and
K.G.F.
·
H.M.T
·
G.E. Power Control
·
HAL Bangalore
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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 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.45.06 |
|
UK
Pound |
1 |
Rs.80.42 |
|
Euro |
1 |
Rs.56.07 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
37 |
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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |