MIRA INFORM REPORT

 

 

Report Date :

04.08.2007

 

IDENTIFICATION DETAILS

 

Name :

DUROPLAS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

151/2, Andul  Road, Shalimar, Howrah 711 103, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

01.12.1981

 

 

Com. Reg. No.:

21-34333

 

 

CIN No.:

[Company Identification No.]

U99999WB1981PTC034333

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALD00158E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

 

 

 

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 :

 

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having satisfactory track.  Trade relations are fair.  General financial position is satisfactory.  Payments are usually correct and as per commitments.

 

The Company can be considered named for business dealing as usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

151/2, Andul Road, Shalimar, Howrah – 711 103, West Bengal

Tel. No.:

91-33-26682642, 26687739

Fax No.:

91-33-26686120

E-Mail :

duroplashwh@yahoo.com

mimanind@yahoo.co.in

Website :

 

 

 

DIRECTORS

 

Name :

Mr. Manish Kumar Bihani

Designation :

Director

Date of Birth/Age :

05.08.1970

Date of Appointment :

26.02.2001

 

 

Name :

Mr. Vivek Bihani

Designation :

Director

Date of Birth/Age :

31.12.1979

Date of Appointment :

26.02.2001

 

 

Name :

Mr. Ajoy Kumar Marda

Address :

111/D, Becharam Chatterjee Road, Kolkata, West Bengal 700 061.

Designation :

Director

Date of Birth/Age :

23.12.1965

Date of Appointment :

26.03.2007

 

KEY EXECUTIVE

 

Name :

M/s. S. D. Basu and Company

Designation :

Secretary

Address :

2B. Grant Lane, Room No. 108, 1st floor, Kolkata 700012

Tel No.  :

91-33-32910032, 22116051

E-mail :

satyadevbasu@rediffmail.com

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

Percentage of Holding

Equity Share Breakup

 

 

Category

 

 

Bodies corporate

 

41.20

Directors or relatives of directors

 

58.35

Other top fifty (50) shareholders

 

0.45

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees :

 

 

 

Bankers :

Bank of Baroda

Burrabazar Branch, 8C, M. D. Road, Kolkata 700 061.

 

 

 

Banking Relations :

---

 

 

Auditor :

 

Name:

R. L. Mundhra  & Company

A

 

Associates/Subsidiaries :

 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

2,00,0000

Equity Share

Rs. 10/- each

Rs. 20.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1000000

Equity Share

Rs. 10/- each

Rs. 10.000 Millions

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

10.000

10.000

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

42.757

30.453

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

52.757

40.453

LOAN FUNDS

 

 

 

1] Secured Loans

 

26.747

2.518

2] Unsecured Loans

 

0.000

10.509

TOTAL BORROWING

 

26.747

13.027

DEFERRED TAX LIABILITIES

 

5.878

5.878

 

 

 

 

TOTAL

 

85.382

59.358

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

36.926

25.126

Capital work-in-progress

 

0.657

0.633

 

 

 

 

INVESTMENT

 

0.003

0.003

DEFERREX TAX ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

15.646

6.904

 

Sundry Debtors
 

44.474

31.361

 

Cash & Bank Balances
 

0.909

0.310

 

Other Current Assets
 

0.000

0.000

 

Loans & Advances
 

8.943

4.363

Total Current Assets
 

69.972

42.938

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

20.153

7.373

 

Provisions
 

2.023

1.969

Total Current Liabilities
 

22.176

9.342

Net Current Assets
 

47.796

33.596

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

85.382

59.358

 

 

 

QUARTERLY / SUMMARISED RESULTS

 

PARTICULARS

 

30.06.2006

30.09.2006

31.12.2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2006

31.03.2005

31.03.2004

PAT / Total Income

(%)
 

 

 

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

 

 

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

 

 

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

 

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

 

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

 

 

STOCK PRICES

 

Face Value

Rs.

High

Rs.

Low

Rs.

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

 

 

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. 40.36

UK Pound

1

Rs. 82.18

Euro

1

Rs. 55.31

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

43

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions