MIRA
INFORM REPORT
|
Report Date : |
15.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
DUA
CONSULTING PRIVATE LIMITED |
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|
|
|
Registered Office : |
301-
303, Tolstoy House, 15, Tolstoy Marg, New Delhi – 110001 |
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|
Country : |
India |
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|
|
|
Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
25.06.1996 |
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Com. Reg. No.: |
55 – 79890 |
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CIN No.: [Company
Identification No.] |
U74140DL1996PTC079890 |
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|
Legal Form : |
Private
Limited Liability Company |
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|
|
|
Line of Business : |
Providing Consulting Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
55000 |
|
|
|
|
Status : |
Satisfactory
|
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|
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track records. Trade relations are fair. Payments are usually correct and as per
commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
301-
303, Tolstoy House, 15, Tolstoy Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23359347/ 23359348/ 23359349 |
|
Fax No.: |
91-11-2372 8450/23317746 |
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E-Mail : |
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|
Website : |
http://www.duaconsulting.com |
|
Location : |
Commercial |
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|
|
|
Branches
: |
World Trade Centre, Centre -1, 7th floor,
Cuffe Parade, Mumbai - 400 005, Maharashtra, India Tel.
No. : 91-22-66360657 Fax
No. : 91-22-66364849 E-mail
: dua@duaconsulting.com Mathru
Ashish, 2nd Floor, 130/I Ulsoor Road, Bangalore - 560 042,
Karnataka, India Tel.
No. : 91-80-25588799/ 25589909 Fax
No. : 91-80-25588801 E-mail
: bangalore@duaconsulting.com G-I
'Phoenix', 17/I+16A, Bundgarden Road, Pune - 411 001, Maharashtra, India Tel.
No. : 91-20-26119759 / 26119760 Fax
No. : 91-20-26131060 E-mail
: dua@duaconsulting.com 704-705,
Tower B, Global Business Park, Mehrauli Gurgaon Road, Gurgaon, Haryana, India Tel.
No. : 91-124-4060291 / 4060292 Fax
No. : 91-124-4060293 E-mail
: dua@duaconsulting.com Dua Consulting, Inc. 39
Leonard Road, Hamden, CT 06514 Tel. No. : 203-288-5336 E-mail : werner@duaconsulting.com |
DIRECTORS
|
Name : |
Mr
Chittranjan Dua |
|
Designation : |
Director |
|
Address : |
202-206,
Tolstoy House, 15 Tolstoy Marg, New Delhi – 110001, India |
|
Date of Birth/Age : |
03/11/1951 |
|
Date of Appointment : |
25/06/1996 |
|
|
|
|
Name : |
Mr
Suresh Mathur |
|
Designation : |
Director |
|
Date of Birth/Age : |
26/12/1933 |
|
Date of Appointment : |
01/09/1998 |
|
|
|
|
Name : |
Mr
Vijay Kumar Mathur |
|
Designation : |
Director |
|
Date of Birth/Age : |
17/02/1941 |
|
Date of Appointment : |
25/01/1999 |
|
|
|
|
Name : |
Mr D
Robert Werner |
|
Designation : |
Director |
|
Date of Birth/Age : |
22/04/1945 |
|
Date of Appointment : |
25/01/1999 |
|
|
|
|
Name : |
Dr.
Homi Sethna |
|
Designation : |
Director |
|
Date of Birth/Age : |
24/08/1923 |
|
Date of Appointment : |
19/11/2001 |
|
|
|
|
Name
: |
Mr V
Arvind Karnik |
|
Designation
: |
Director |
|
Date
of Birth/Age : |
21/12/1935 |
|
Date
of Appointment : |
01/09/2002 |
|
|
|
|
Name
: |
Mr P V
Jacob Johnson |
|
Designation
: |
Director |
|
Date
of Birth/Age : |
23/02/1941 |
|
Date
of Appointment : |
30/09/2004 |
KEY EXECUTIVES
|
Name
: |
Mr
Sanjeev Kaul |
|
Designation
: |
Secretary |
|
Date
of Birth/Age : |
01/10/1959 |
|
Date
of Appointment : |
01/09/2002 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr.
Chittranjan Dua |
299990 |
99.99 |
|
Amit
Investment Private Limited |
10 |
0.01 |
|
TOTAL |
300000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Consulting Services. |
GENERAL
INFORMATION
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
Hong Kong and Shanghai Banking Corporation E. C. House, K. G. Marg, New Delhi |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Gopal Rao & Company Chartered Accountants |
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|
|
|
Associates : |
Dua Associates 201-202 Tolstoy House, New Delhi - 110
001 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
300000 |
Equity
Shares |
Rs. 10/- each |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.000 |
0.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
10.582 |
9.798 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
13.582 |
10.298 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
13.582 |
10.298 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
5.120 |
3.946 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.301 |
0.318 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
8.272 |
7.398 |
|
|
Cash & Bank Balances |
|
1.139 |
1.986 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
5.221 |
3.635 |
|
Total Current Assets |
|
14.632 |
13.019 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities & Provisions |
|
6.473 |
6.987 |
|
Total Current Liabilities |
|
6.473 |
6.987 |
|
|
Net Current Assets |
|
8.159 |
6.032 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.002 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
|
13.582 |
10.298 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
|
30.727 |
30.386 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
1.082 |
1.408 |
|
Provision
for Taxation |
|
0.300 |
0.525 |
|
Profit/(Loss)
After Tax |
|
0.782 |
0.883 |
|
|
|
|
|
|
Total
Expenditure |
|
28.665 |
28.026 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
|
2.54 |
2.91 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
3.52 |
4.64 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
3.90 |
5.11 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
5.76 |
8.57 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
- |
- |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.26 |
1.86 |
|
|
|
|
|
|
|
Quick Ratio |
|
|
2.26 |
1.86 |
|
|
|
|
|
|
|
Current Liabilities/Net worth |
|
|
0.48 |
0.68 |
|
|
|
|
|
|
|
Fixed Asset / Net worth |
|
|
0.38 |
0.38 |
|
|
|
|
|
|
|
Average Collection Days |
|
|
98.30 |
89.00 |
|
|
|
|
|
|
|
Account Receivables Turnover |
|
|
3.71 |
4.10 |
|
|
|
|
|
|
|
Inventory Turnover |
|
|
- |
- |
|
|
|
|
|
|
|
Asset Turnover |
|
|
6.00 |
7.69 |
LOCAL AGENCY
FURTHER INFORMATION
VISION
To ensure complete client
satisfaction by working with them to create sustainable strategies through
teamwork, constant learning and dedication
They have consciously nurtured and developed their strengths to be
a multi-disciplinary consulting firm with a practical
"get-things-done" philosophy.
They believe that successful consulting depends largely on the
quality of the individuals comprising the practice. Each member of the
professional team at Dua Consulting has a significant depth and breadth of
appropriate experience in their field of expertise and a track record of
achievement in domestic and international assignments. This enables us to
represent and advise a broad spectrum of clients. Their client portfolio
includes small-to-medium sized privately owned companies, several Fortune 500
multinationals as well as some large Indian publicly-listed companies and
Public sector undertakings.
BOARD OF
DIRECTORS
Homi
Sethna
Chairman
Distinguished
scientist and business executive. Dr. Sethna was a long-serving member of the
Science Advisory Committee to the Government of India and was Chairman of the
Atomic Energy Commission. He is a member of the Swedish Academy of Engineering
Sciences and has served on various United Nations committees on science and
nuclear technology. As a business executive he served ten years as Chairman of
Tata Electric Companies and also served as Chairman of several public sector
companies including Fertiliser Corporation of India, Indian Rare Earths and the
Electronics Corporation of India. Dr. Sethna is a recipient of the prestigious
Padma Vibushan award and continues to serve on the boards of several
engineering companies and foundations primarily related to health and welfare.
Chittranjan
Dua
Director
Mr. Dua
founded Dua Associates in 1989 and has built it into one of India's most
prestigious and successful internationally-recognised law firms with a
nation-wide presence. He is an acknowledged authority on foreign investment and
the establishment and structuring of subsidiaries and joint ventures in India.
His experience includes a broad spectrum of business in India ranging from
consumer and industrial product companies to large infrastructure projects. He
sits on the board of several leading public companies and subsidiaries of major
multinational companies.
Suresh Mathur
Director
Mr.
Mathur was a senior career government official and policy maker. He held the
position of Secretary to the Government of India in several key Ministries
including Labour, Information and Broadcasting, and Industrial Development. He
was a member of the first Foreign Investment Promotion Board in the Prime
Minister's Office and was personally responsible for formulating and
implementing many of the liberalised economic policies which critically changed
the Indian investment climate beginning in 1991. Mr. Mathur specialises in
entry strategies and regulatory interpretation, particularly in information
technology and broadcasting.
Vice
Admiral PJ Jacob (Retired)
Director
Admiral
Jacob retired in 2001 as Vice Chief of Naval Staff after a distinguished career
of nearly four decades. He has commanded the Eastern Fleet and also been
Director General of the Indian Coast Guard and was active in strategic planning
and charting the future development of the Indian Navy. As Vice Chief he has
overseen numerous training initiatives and has led several Ministry of
Defence/Navy delegations to negotiate intergovernmental agreements on strategic
issues with various countries. Admiral Jacob currently serves as a member of
the National Security Advisory Board to the Prime Minister.
Vijay
Mathur
Director
Mr.
Mathur served as Chairman of the Airports Authority of India and has served on
the Boards of both Air India and Indian Airlines. He was responsible for
national level policy formulation in the civil aviation sector and commissioned
two new domestic airports and initiated construction of an international
terminal. Mr. Mathur also served as Director Projects of Maruti Udyog, Limited,
India's largest automobile manufacturer and was personally responsible for
negotiating the Suzuki collaboration. He was subsequently responsible for the
planning, procurement, and construction of Maruti's manufacturing plant. As a
special assistant in the Ministry of Industry he developed a valuable insight
and strong working relationships in the Planning Commission, Ministry of
Finance and various Public Sector businesses. Mr. Mathur is currently a member
of the advisory board of a major multinational bank.
Robert D
Werner
Director
Mr.
Werner is an American national who heads our US representation and has
significant international experience with an emphasis on emerging markets. As
Vice President International Development for Timex Corporation he managed
Timex's multi-million entry as the first foreign watch manufacturer in India
and established a successful joint venture company. His substantial tenure in
India includes hands-on experience in a manufacturing environment, corporate
administration, finance and government interface. Prior to joining Dua
Consulting he was Chairman of Timex Watches, Limited, a publicly traded Indian
company and was a long-serving member of the Executive Board of the US-India
Business Council in Washington. Werner also held senior level development and
finance positions with Timex in Southeast Asia and Brazil as well as a variety
of international finance positions with Continental Can and W.R. Grace.
Arvind V
Karnik
Director
Mr.
Karnik is a senior corporate executive, including several Managing Director
positions, with direct experience in various manufacturing, technical and
service industries. During his tenure with the Birla Group he managed business
development and corporate affairs activities and was responsible for
establishing several joint ventures in such diverse fields as cement, seeds,
and biotechnology. Among specific achievements are a business turnaround in the
cement industry, successful joint ventures in fertilizers, restructuring and
modernisation of retail outlets in the oil industry and the building of a 200
mw captive power plant. Mr. Karnik has also been very active in the business
community with organisations such as the Confederation of Indian Industry and
the Associated Chambers of Commerce and represented these groups in various
delegations to the US, Canada, Europe and Japan.
Their
Clients :
Dua Consulting has a diverse portfolio of clients -
their expertise and teamwork allows us to effectively advise and assist clients
across a very broad spectrum of company size, ownership, industry or service
focus, national origin and corporate structure.
They have worked with and represent many multinational
companies and readily recognisable brand names from the US, Europe and Japan.
Some of these companies are in the Fortune 50, many in the Fortune 500.
However, it also work equally effectively with small and medium size foreign
companies interested in pursuing the India Opportunity. These clients, large
and small, are in a wide variety of industries including:
Automobiles
and Automotive Accessories
Food
Service
Insurance
Banking
and Financial Services
Healthcare
and Beauty Products
Office
Supplies
Petroleum
Telecommunications
Consumer
Products
Advertising
/ Public Relations
They also work with many privately held and publicly
traded Indian companies and have advised in industries such as:
IT, IT
Enabled Services, B2B
Food
Service
Light
Engineering
Agribusiness
Construction Securities and Financial Instruments
Hospitality
Apparel
& Accessories
Electrical
& Optical Connectivity
Roads & Highways
Chemicals
In addition, they have assisted Government of India
organizations and institutions as well as Public Sector companies in respect of
restructuring and privatizations.
Strategic
Alliances :
In order to meet the diverse and complex needs of many
of its clients, Dua Consulting has developed close working relationships or
strategic alliances with several organizations, domestic and international,
across a broad range of functional areas. This allows it to bring additional
specialised skills and experience into the equation on an as needed basis.
Among these relationships are:
Dua Associates
Dua Consulting maintains a professional working
relationship with Dua Associates, one of India's leading internationally
recognized law firms. In certain practice areas such as Public Law and Policy,
International Trade, Competition Law, etc. the professionals from Dua
Associates and Dua Consulting work together on major, complex projects
requiring multi-disciplinary expertise.
Unihorn, the Netherlands and EMA Unihorn (Indian
Subsidiary)
Have extensive world-wide civil engineering experience
and are active in assisting their clients in infrastructure projects,
particularly in highways, civil aviation and tourism.
Business Value
Based in Rome, Business Value specializes in corporate
finance, mergers and acquisitions, joint venture analysis, etc. and has been
active in identifying business opportunities between India and Italy.
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 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.45.34 |
|
UK
Pound |
1 |
Rs.85.82 |
|
Euro |
1 |
Rs.58.05 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|