MIRA
INFORM REPORT
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Report Date : |
10.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
DYNASTY INDIA PRIVATE LIMITED |
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Registered Office : |
M -21, Market, Great Kailash, Part - II, New Delhi - 110048 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.07.1998 |
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Com. Reg. No.: |
094899 |
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CIN No.: [Company
Identification No.] |
U29308DL1998PTC094899 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTD00614F |
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PAN No.: [Permanent
Account No.] |
AAACD9784F |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers, exporters, importers and dealers of all type
of electrical appliances and home appliances. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 37600 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average
30 days |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having moderate track.
Financial position of the company is moderate. Payments are reported
as slow by average 30 days. The company can be
considered for small to mediocre business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
M -21, Market, Great Kailash, Part – II, New Delhi –
110048, India |
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Mobile No.: |
91-9891081848 / 9350264991 |
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E-Mail : |
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Website : |
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Factory 1 : |
B – 77, Sector 60, Noida – 201301, Uttar Pradesh |
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Tel. No.: |
91-120-2590376 / 3917314 / 3917315-16 / 3258829 |
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Fax No.: |
91-120-2590376 |
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E-Mail : |
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Location : |
Industrial |
DIRECTORS
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Name : |
Mr. Bhola Nath Singh |
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Designation : |
Director |
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Address : |
B – 31, Sector – 53, Gautam Budh Nagar, Noida, Uttar Pradesh |
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Date of Birth/Age : |
05.03.1961 |
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Date of Appointment : |
10.07.1998 |
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Name : |
Ms. Mamta Singh |
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Designation : |
Director |
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Address : |
B – 31, Sector – 53, Gautam Budh Nagar, Noida, Uttar
Pradesh |
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Date of Birth/Age : |
08.08.1962 |
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Date of Appointment : |
19.03.2001 |
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Name : |
Mr. Raj Kumar Aggarwal |
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Designation : |
Director |
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Address : |
A – 38, Vivek Vihar, Delhi |
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Date of Appointment : |
01.07.2004 |
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Name : |
Mr. B. N. Singh |
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Designation : |
Managing Director
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Name : |
Mr. Sushil Prakash Gupta |
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Designation : |
Director |
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Address: |
M – 21 (Market), Greater kailash II, New Delhi – 110048, |
KEY EXECUTIVES
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Name : |
Mr. B. N. Singh |
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Designation : |
Chief Executive
Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Bhola Nath Singh |
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100 |
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Mr. Sushil Prakash Gupta |
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100 |
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Mr. Raj Kumar Aggarwal |
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100 |
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Total |
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300 |
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Category |
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Percantage |
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Director or relatives directors |
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100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, exporters, importers and dealers of all
type of electrical appliances and home appliances. |
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Products : |
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Exports : |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
Vijaya Bank, SSI Branch, Noida, Uttar Pradesh |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Rajeev Sharma and Associates Chartered Accountants |
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Address : |
B-114, Sector-18, Noida – 201301, Uttar Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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480000 |
Equity shares |
Rs.10/- each |
Rs.4.800
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.800 |
4.800 |
4.800 |
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2] Share Application Money |
2.112 |
2.112 |
2.112 |
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3] Reserves & Surplus |
2.488 |
1.676 |
0.894 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.400 |
8.588 |
7.806 |
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LOAN FUNDS |
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1] Secured Loans |
10.774 |
10.707 |
6.297 |
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2] Unsecured Loans |
4.693 |
4.694 |
4.733 |
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TOTAL BORROWING |
15.467 |
15.401 |
11.030 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
24.867 |
23.989 |
18.836 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.218 |
6.364 |
6.923 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.003 |
0.047 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.926
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9.910 |
9.989 |
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Sundry Debtors |
10.272
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9.833 |
6.940 |
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Cash & Bank Balances |
0.867
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0.824 |
0.744 |
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Other Current Assets |
0.000
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0.000 |
0.198 |
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Loans & Advances |
0.213
|
0.247 |
0.000 |
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Total
Current Assets |
21.278
|
20.814 |
17.871 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.649
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3.188 |
5.304 |
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Provisions |
0.000
|
0.071 |
0.682 |
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Total
Current Liabilities |
4.649
|
3.259 |
5.986 |
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Net Current Assets |
16.629
|
17.555 |
11.885 |
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MISCELLANEOUS EXPENSES |
0.017 |
0.023 |
0.028 |
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TOTAL |
24.867 |
23.989 |
18.836 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
25.000 |
23.000 |
22.959 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
25.000 |
23.000 |
22.959 |
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Profit/(Loss) Before Tax |
N.A. |
N.A. |
0.781 |
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Provision for Taxation |
N.A. |
N.A. |
0.000 |
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Profit/(Loss) After Tax |
N.A. |
N.A. |
0.781 |
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Expenditures : |
N.A. |
N.A. |
22.178 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
-
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- |
3.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
-
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3.40 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
-
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3.14 |
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Return on Investment (ROI) (PBT/Networth) |
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-
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- |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.14
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2.18 |
2.17 |
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Current Ratio (Current Asset/Current Liability) |
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4.60
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6.39 |
2.98 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate
identity number (CIN) Foreign company registration number |
U29308DL1998PTC094899 |
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Name of the
Company |
DYNASTY INDIA PRIVATE LIMITED |
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Address |
M -21, Market, Great Kailash, Part - II, New Delhi – 110048, India |
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This form is for |
Modification of
charge |
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Type of Charge |
Equitable mortgage or mortgage of property by depositing the title
deeds |
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Particulars of
the charge holder |
Vijaya Bank B – 12, Sectore –
60, SSI Branch, Noida -201301, Uttar Pradesh, India |
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Nature or description
of the instrument(s) creating or modifying the charge |
Supplementary
agreement dated 03.03.2006, Loan agreement cum hypothecation deed ANSD
memorandum dated 03.03.2006 |
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Date of the
instrument creating or modifying the charge |
03.03.2006 |
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Amount secured by
the charge |
Rs.1.000 Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
N.A. |
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Short particulars
of the property charged (including location of the property) |
B – 77, Sectore – 60, Noida Factory Land and Building, Hypothecation |
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Particular of the
present modification |
CCH Limit of
Rs.2.000 Millions is renewed upto 30.09.2006 with rate of interest 13% per
annum overdue interest 2% per annum |
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Name of the company |
DYNASTY INDIA PRIVATE LIMITED |
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Presented By |
Vijaya Bank, SSI
Branch, Noida |
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1) Date and description of instrument creating the change |
Articles of
agreement dated 12.01.2005 Hypothecation
agreement dated 12.01.2005 Memorandum dated
12.01.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.800 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Conveyors and
winding machine, belt conveyors Collaterally Secured by factory land and
building at B – 77, Sector-60, Noida, Uttar Pradesh. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Loan is repayble
in 60 Equated monthly instalments of RS.18060.00 each. Rate of
Instalments 13%p.a. Overdue Intalments 2.00% |
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5) Name and Address and description of the person entitled to the charge. |
Vijaya Bank, B-12,
Sector-60, SSI Branch, Noida |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
WEBSITE DETAILS :
Subject are leading
manufacturers and exporters of Ceiling
fans, Exhaust fans, Water pumps, Coolers, Motor and other electric home
appliances. Due to sheer hard work and dedication towards customer
satisfaction, the company has earned an impeccable reputation as a reliable
supplier of quality ceiling fans and
exhaust fans.
Established in 1998, Subject has its own in-house research and development
center with 52 people working on the ideology of constant technological
improvement. The company caters to a huge client base in India and is
successfully exporting its products to Middle East, Sri Lanka, UAE and several
other countries.
The company has a well-equipped testing laboratory where all types of testing
facilities as per IS-374 (including air delivery chamber), IS-2312, IS-996 are
available and each fan is tested for quality and durability before sending them
into the market. All the products manufactured by subject are as per the
international quality standards.
Subject has a monthly production capacity of 40000 ceiling and exhaust fans.
The company is a regular supplier to several OEM's like Cinni Fans Private
Limited and Singer India Private Limited and has on rate contract of supplying
fans with several government organizations in India.
They at Subject, endeavours to understand and satisfy their customers needs by manufacturing
high quality fans and electrical appliances. The company invites trade
inquiries for its product range with the assurance of quality, competitive
rates and on-time delivery schedules.
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.39.41 |
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UK Pound |
1 |
Rs.79.81 |
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Euro |
1 |
Rs.57.58 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--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 |
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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
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 |
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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. |
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 |
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