MIRA INFORM REPORT
|
Report
Date : |
17.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
DKSH INDIA PRIVATE LIMITED |
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|
|
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Formerly
Known As : |
SIBER
HEGNER INDIA PRIVATE LIMITED |
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Registered
Office : |
304, Alpha, Hiranandani Business Park, Powai, Mumbai –
400076, Maharashtra |
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Country
: |
India |
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|
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Financials
(as on) : |
31.12.2005 |
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Date
of Incorporation : |
17.04.1996 |
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|
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Com.
Reg. No.: |
11-98917 |
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CIN
No.: [Company
Identification No.] |
U51900MH1996PTC098917 |
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|
|
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TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMD12493F |
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|
|
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PAN
No.: [Permanent
Account No.] |
AAACS9103M |
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Legal
Form : |
Private Limited Liability Company |
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Line of
Business : |
Manufacturer, dealer, trader, importer, exporter of all
goods, items, products and to deal in textile items, yarns, fabrics, iron,
steels, aluminium items, engineering goods, electronic items, machineries,
raw materials, chemicals, drugs, computers, plastic items, automobile
accessories, agricultural products etc. |
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
100000 |
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|
|
|
Status
: |
Satisfactory
|
|
|
|
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Payment
Behaviour : |
Slow |
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|
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Litigation
: |
Clear |
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Comments
: |
DKSH India Private Limited is the new name of SiberHegner
India Private Limited with effect from 14th December 2004. The
company is engaged in manufacturing and marketing of Polyterene Resins,
Acrylic Resins and Chlorinated Polypropylene etc. The company’s last
available financials are for the financial year 2001-2002. It had accumulated
losses, which has been wiped out fully during the financial year 2001-2002.
There appears to be a progressive trend in its turnover. Trade relations are
reported as fair. The company’s payments are reported as slow. Financial
position is moderate. The company can be considered for small volume business
against usual trade terms and conditions. |
LOCATIONS
|
Registered
Office / Factory
: |
304, Alpha, Hiranandani Business Park, Powai, Mumbai –
400076, Maharashtra, India |
|
Tel.
No.: |
91-22-25707596 |
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Fax
No.: |
91-22-25707597 |
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E-Mail
: |
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Website
: |
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Overseas
Offices : |
Located at : v
Chile v
USA v
Hongkong v
Indonesia v
Japan v
Korea v
Malaysia
v
Philippines v
PR
China v
Singapore
v
S.
R. Vietnam v
Taiwan v
Thailand
v
Czech
Republic v
Denmark
v
Finland
v
France
v
Germany
v
Great
Britain v
Italy
v
Netherlands v
Norway
v
Spain
v
Sweden v
Switzerland
|
DIRECTORS
|
Name : |
Mr. Beat
Marco Heller (Foreign) |
|
Designation
: |
Chairman
cum Managing Director |
|
Address: |
1M
Widenbuel 22 8617 Monchaltort, Switzerland |
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Date
of Birth: |
17th
November 1962 |
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Date
of Appointment: |
17th
July 2000 |
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|
|
|
Name : |
Mr.
Wolfgang Schanzenbach (Foreign) |
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Designation
: |
Director |
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Address: |
Atago
Forest Tower, 3-1-3606, Atago 2-Chome, Minato-ku, Tokyo, Japan - 1050002 |
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Date
of Birth: |
15th
October 1957 |
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Date
of Appointment: |
21st
December 1999 |
KEY EXECUTIVES
|
Name : |
Mr. A. P.
Soj |
|
Designation
: |
Company Secretary |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
DKSH
Holding Limited (Switzerland) |
|
7,99,999 |
|
DKSH
Holding Limited (Switzerland) Mr. Beat Heller |
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1 |
|
Total |
|
8,00,000 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturer, dealer, trader, importer, exporter of all goods,
items, products and to deal in textile items, yarns, fabrics, iron, steels,
aluminium items, engineering goods, electronic items, machineries, raw
materials, chemicals, drugs, computers, plastic items, automobile
accessories, agricultural products etc. |
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Products
: |
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GENERAL INFORMATION
|
No. of
Employees : |
About 50 |
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|
|
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Bankers
: |
Not Available |
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|
|
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Auditors
: |
Price Waterhouse Chartered Accountants 252, Veer Savarkar marg, Shivaji Park, Dadar, Mumbai –
400028, Maharashtra, India |
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|
|
|
Associates
: |
v
Nihon
Siberhegner KK v
Siberhegner
and CIF France SA v
Siberhegner
and Company AG v
Siberhegner
Holding Limited |
|
|
|
|
Holding
Company : |
DKSH Holding Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,00,000 |
Equity Shares
|
Rs. 10/- |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,00,000 |
Equity
Shares |
Rs. 10/- |
Rs. 8.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
01.01.2005 to 31.12.2005 [12 Months] |
01.01.2004 to 31.12.2004 [12 Months] |
01.01.2003 to 31.03.2004 [15 Months] |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
8.000 |
8.000 |
8.000 |
|
2] Reserves & Surplus |
17.682 |
11.554 |
6.457 |
|
3] Profit and Loss Account |
0.000 |
0.000 |
0.000 |
NETWORTH
|
25.682 |
19.554 |
14.457 |
|
LOAN FUNDS |
|
|
|
|
1] Unsecured Loans |
11.299 |
10.933 |
11.400 |
TOTAL
BORROWING
|
11.299 |
10.933 |
11.400 |
|
|
|
|
|
TOTAL
|
36.981 |
30.487 |
25.857 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.195 |
5.502 |
6.583 |
|
Capital work-in-progress |
2.365 |
0.000 |
0.000 |
|
|
|
|
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.296 |
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
12.024 |
9.531 |
6.922 |
|
Sundry Debtors |
16.213 |
13.668 |
7.111 |
|
Cash & Bank Balances |
17.705 |
18.433 |
16.750 |
|
Other Current Assets |
0.242 |
0.462 |
0.008 |
|
Loans & Advances |
8.596 |
8.292 |
5.156 |
|
Total Current Assets |
54.780 |
50.386 |
35.949 |
|
Less: CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
Current Liabilities |
18.411 |
17.901 |
16.994 |
|
Provisions |
6.948 |
7.511 |
|
Total Current Liabilities
|
25.359 |
25.412 |
16.994 |
Net
Current Assets
|
29.421 |
24.974 |
18.955 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.011 |
0.022 |
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|
|
|
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TOTAL
|
36.981 |
30.487 |
25.857 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
01.01.2005 to 31.12.2005 [12 Months] |
01.01.2004 to 31.12.2004 [12 Months] |
01.01.2003 to 31.03.2004 [15 Months] |
Sales Turnover [including other income]
|
117.875 |
92.773 |
69.308 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
10.121 |
8.233 |
8.996 |
Provision for Taxation
|
3.994 |
3.136 |
2.995 |
Profit/(Loss) After Tax
|
6.127 |
5.097 |
6.001 |
|
|
|
|
|
Export Value
|
NA |
14.911 |
0.866 |
|
|
|
|
|
Import Value
|
NA |
NA |
22.688 |
|
|
|
|
|
Total Expenditure
|
107.753 |
84.540 |
60.311 |
KEY
RATIOS
|
PARTICULARS |
|
01.01.2005 to 31.12.2005 [12 Months] |
01.01.2004 to 31.12.2004 [12 Months] |
01.01.2003 to 31.03.2004 [15 Months] |
PAT / Total Income
|
(%)
|
5.20 |
5.49 |
8.65
|
|
|
|
|
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|
Net Profit Margin
(PBT/Sales) |
(%) |
8.59 |
8.87 |
12.98
|
|
|
|
|
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|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
16.88 |
14.73 |
21.00
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.39 |
0.42 |
0.62
|
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
1.43 |
1.86 |
2.96
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.16 |
1.98 |
2.11
|
LOCAL AGENCY FURTHER INFORMATION
As Per Website
Milestones
|
1865 |
Businessman Caspar Brennwald, who, two years earlier as 24-year-old
secretary, has accompanied Switzerland's first trading mission to Japan,
founds a company together with his partner Hermann Siber:Siber &
Brennwald in Yokohama. They import products from and export silk to Europe
and soon establish a branch in Yedo (Tokyo). |
|
1888 |
Siber's nephew, Robert Hegner-von Juvalta, joins the
business. |
|
1906 |
The company's name changes to Siber, Hegner & Company
and subsidiaries are established in Kobe and Osaka. |
|
1921 |
Business with China grows fast enough to justify the
opening of an office in Shanghai. |
|
1923 |
A terrible earthquake destroys the headquarters in
Yokohama. |
|
1932 |
The business is transformed into a limited company with
equity capital of CHF 1.5 million and headquarters in Zurich and,
subsequently, branches are opened in New York, Tientsin, Peking and Lyon. |
|
1947 |
A branch in Hong Kong is created. |
|
1964 |
Establishment of Siber Hegner Holding Limited in Zurich. Activities
are divided up according to business lines: Raw Materials, Technical Products
and Consumer Goods. The branch offices in East Asia become legally
independent. |
|
1968 |
Acquisition of a London company trading in raw materials
for the food industry: a move aimed at strengthening the presence in Europe. |
|
1972 |
Expansion into pet food by the take-over of the
"Handelsverkehr" Group, a sector which is later to yield
significant revenues, particularly in the Netherlands. |
|
1974 |
Siber Hegner Holding Limited's share capital is raised to
CHF 6 million (now 8 million) and participation certificates for CHF 4
million are issued. |
|
1980 |
For the first time, group turnover exceeds CHF 1 billion. |
|
1981 |
The company moves into new headquarters at Wiesenstrasse 8
in Zurich. |
|
1988 |
An office building is inaugurated on land in Yokohama
which has been in the company's possession for more than 100 years. |
|
1990 |
The Group proudly celebrates an important anniversary - its
founding in Japan 125 years ago! Siber Hegner has since developed into a
powerful Group of marketing companies in the raw material, technical and
consumer product fields in East and South-East Asia and Europe. |
|
1998 |
Creation of a single registered share category and at the
same time conversion of the participation certificates into registered share
capital of SiberHegner Holding Limited is raised to 12 million Swiss francs.
Introduction of a new Corporate Identity. |
|
1999 |
Transformation from family- into privately held company. |
|
2000 |
Structural re-organization of the group. |
The company
is engaged primarily in the business of trading in pharmaceuticals, chemicals
and food products.
Its
products range include:
v
Polyterpene
Resins
v
Chlorinated
Polypropylene
v
Dehydrated
Green Chives
Profile
Subject is a leading International Marketing and Services
Group, focussing on innovative Technology products, valuable Chemicals &
Pharmaceuticals, various Food & Ingredients, Premium Pet Products and
strong branded Consumer Goods.
Subject was founded in Japan in 1865, looks back on a
corporate history of more than 135 years. Long-standing tradition and in-depth
experience have led to their core competence today: Market Intelligence.
Market Intelligence is based on extensive know-how of it
sales and sourcing markets. In their definition Market Intelligence includes
product and application expertise, intimate cultural know-how and sophisticated
marketing skills.
Its fixed assets of important value include furniture and
fixtures, office equipments, computers and vehicles.
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.44.20 |
|
UK Pound |
1 |
Rs.86.28 |
|
Euro |
1 |
Rs.58.22 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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 |
|