%20PRIVATE%20LIMITED%2027-Jan-2007_files/image002.jpg)
MIRA INFORM REPORT
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Report Date : |
27.01.2007 |
IDENTIFICATION DETAILS
|
Name : |
DSM ENGINEERING PLASTICS
(INDIA) PRIVATE LIMITED |
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Registered Office : |
Ashirwad,
110/12 Erandwane, Prabhad Road, Lane No. 14, Thorat Colony, Pune – 411 004,
Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
24.12.
2000 |
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Com. Reg. No.: |
25-14523 |
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CIN No.: [Company Identification No.] |
U25209PN1998PTC014523 |
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TAN No.: [Tax Deduction & Collection Account No.] |
PNED03157A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturers,
Processors, Exporters, Buyers, Sellers, Stockists, Distributors and Dealers
in all kinds of Plastics |
RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 450000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established and reputed company and subsidiary of DSM Engineering
Plastic International BV, The Netherlands. Available
information indicates high financial responsibility of the company. Financial
position is good. Payments are correct and as per commitments. The
company can be considered good for normal business dealings. It can be
regarded as a promising business partner in a medium to long – run. |
LOCATIONS
|
Registered Office/ Sales
Office : |
Ashirwad, 110/12 Erandwane,
Prabhad Road, Lane No. 14, Thorat Colony, Pune – 411 004, Maharashtra, India |
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Tel. No.: |
91-20-26050170/24002880/24002881/25461075/6 |
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Fax No.: |
91-20-24002614/25455259 |
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E-Mail.: |
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Area : |
Owned
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Factory 1 : |
Pune,
Maharashtra |
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Area : |
Owned
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Branches : |
201-204,
Century Arcade, Narangi Baug, Pune – 411 001, Maharashtra |
DIRECTORS
|
Name : |
Mr.
Nitin Damodar Kothari |
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Designation : |
Director |
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Address : |
Swapnil
Apartments, Plot No. 28, Girija Co-operative Housing Society, MIT Road, Pune
– 411 038, Maharashtra |
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Age |
44
Years |
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Qualification |
B.
Tech |
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Experience |
23
Years |
|
Last Employment |
Tata
Honeywell Limited |
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Date of Appointment : |
04.12.1999 |
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|
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Name : |
Mr.
Van Helmond Gerardus |
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Designation : |
Director
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Address : |
Russeilan
3, 6132, As Sitard, The Netharlands |
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Date of Appointment : |
04.12.1999 |
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Name : |
Mr.
Nieboer Ond Henk Geertjan |
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Designation : |
Director
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Address : |
8,
Green Vie Cresent Company, 289318, Singapore |
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Date of Appointment : |
04.12.1999 |
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Name : |
Mr.
Paulis Bernard Jurgen |
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Designation : |
Director
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Address : |
152,
Beach Road, 10-01/104, Gateway East, Singapore – 189721 |
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Date of Appointment : |
20.02.2002 |
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Name : |
Mr.
Roelof Westerberck |
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Designation : |
Director
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Address : |
10A,
China Overseas Building No. 25, Chong Ouing Zhong Road, Shanghai, China – 200
020 |
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Date of Birth/Age : |
11.12.2002 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. Ambalal
Shah |
1 |
|
Mr. Nitin Ram Potadar |
1 |
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DSM EP, BV Netherlands |
6599998 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Processors,
Exporters, Buyers, Sellers, Stockists, Distributors and Dealers in all kinds
of Plastics and Polybutylene Terephthalate |
|
|
|
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Products : |
v
Akulon v
Arnite v
Arnitel v
Polybutylene
Terephthalate – 3907.99 v
Polyamide – 3908.10 It’s
sports products includes:- v
DSM Agro v
DSM Coating Resins v
DSM Composite Resins v
DSM Dyneema v
DSM Elastomers v
DSM Engineering
Plastics v
DSM Fibre
Intermediates v
DSM Food Specialties v
DSM Melamine v
DSM Nutritional
Products v
DSM Venturing and
Business Development v
DSM Venturing and
Business Development |
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|
|
PRODUCTION STATUS
|
Particulars |
Unit |
Actual Production |
|
Akulon |
Qty Kgs |
2792050 |
|
Arnite |
Qty Kgs |
1798998 |
|
Arnitel |
Qty Kgs |
6130 |
GENERAL INFORMATION
|
No. of Employees : |
110 |
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Bankers : |
ABN Amro Bank, N V Sachapir Bhavan, Nariman Point, Mumbai,
Maharashtra |
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Facilities : |
Unsecured Loan Loan
from DSM Finance BV - Rs. 94.779 From
Bank Short
term Loan – Rs. 33.000 Millions Total – Rs. 127.779 Millions |
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Banking Relations : |
Good |
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Auditors : |
S. R. Batliboi &
Company Chartered Accountants |
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Address: |
The Metropole, F-1, 1st
Floor, Bund Garden Road, Pune – 411 00 |
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Tel. No.: |
91-20-56016000 |
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Mobile No.: |
91-20-56015900 |
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Sister Concern : |
v
DSM EP, BV
Netherlands, Post Box 43, 6130, AA Sitard, The Netherlands v
DSM Bakery Ingredients
Argentina v
DSM Food Specialties v
Roche Vitaminas Argentina v
DSM Food Specialties v
DSM Nutritional
Product Australia Private Limited v
DSM Fine Chemicals
Austria GMBH v
DSM Nutritional v
DSM Bakery Ingredients
Belgium v
DSM Belgium v
DSM Nutritional
Products v
Colombo Industrial e
Comercio Limited v
DSM Elastomeros Brasil
Limited v
DSM South America
Limited v
DSM Produtos
Nutricionais Brasil Limited v
DSM Biologics Holding v
DSM Nutritional
Products Hungary Limited v
DSM Bakery Ingredients
Chile v
DSM Minera v
DSM Nutritional
Products Chile v
ZJK DSM Hayao
Pharmaceutical Company Limited v
Zhang Jia Kou Gist
Brocades Pharmaceutical Company Limited v
DSM Composites
Distribution v
DSM Nutritional
Products France v
Uniferm GmbH &
Company v
DSM Kunstharze GmbH v
DSM Uniferm GmbH &
Company v
DSM Rescom v
DSM Composite Resins
Deutschland GmbH v
DSM Biotech GmbH v
DSM Deutscland GmbH v
DSM Nutritional
Products GmbH v
DSM Nutritional
Products Europe Limited v
DSM Nutritional
Products International v
DSM Nutritional
Products Hellas v
DSM Elastomers Asia
Limited v
DSM Polymer China
Limited v
DSM Hungary v
DSM Nutritional
Products Hungary v
Max – Gist – Brocades
Limited v
Lever Gist Brocades
Private Limited v
DSM Nutritional
Products India Private Limited v
(DHA) DAI – India
Limited v
DSM Kaltim Melamine v
DSM Eternal Resins
(Kunshan) Company v
Xinhui Meida DSM Nylon
Chips Company v
Xinhua Chemferm Pharma
Company Limited v
DSM Nutritional
Products Shanghai Limited v
DSM Fine Chemicals
Shanghai Limited v
Roche Shanghai
Vitamins Limited v
Rocha Zhongya (Wuxi)
Citric Acid Limited v
DSM Nutritional
Products Colombia v
DSM Nutritional Products Costa Rica v
DSM Nutritional
Products v
R E Brain (GRP)
Limited v
Roche Vitaminas
Scandinavia v
DSM Anti – Infective
Egypt v
DSM Agro France v
DSM Bakery Ingredients
France v
DSM Food Specialties
Oenology v
DSM Composite Resins
France v
DSM France v
DSM Coating Resins v
DSM Desotech v
DSM Elastomers v
DSM Melamine BV v
DSM Nanjing
Caprolactam Corporation v
DSM Nutritional
Products Indonesia v
DSM Composite Resins
Italia v
DSM Italia v
DSM Nutritional
Products v
Nippon Dyeema Company
Limited v
DSM Engineering
Plastic BV v
Japan Fine Coating
Company Limited v
DSM Idemitsu Company
Limited v
DSM Japan v
Rocha Vitaminas Dominicana
v
DSM Nutritional Japan v
DSM Nutritional Korea v
DSM Nutritional
Products Malaysia v
DSM Nutritional
Products Mexico v
DSM Agro v
DSM Food Specialties
Superdex v
DSM Anti – Infectives v
DSM Bakery Ingredients
Export Group v
DSM Energie Beheer
Nederland v
DSM Biologics v
DSM Pharma Chemical
Netherlands v
DSM Fine Chemical v
DSM Special Products v
DSM Melamine Europe v
DSM Composite Resins v
Eurosins Benelux v
DSM Structural Resins v
DSM Composite Resins
Holding v
DSM Research v
DSM Limburg v
DSM Nutritional
Products Philippines v
DSM Poland v
DSM Sarzyna Structural
Resins v
DSM Nutritional
Products v
DSM Bakery Ingredients
Portugal v
DSM Eastern Europe
Representative Office (DSM
Nutritional Products) v
DSM Nutritional
Products AG v
Euroresins v
DSM Espana v
DSM Nutritional
Products Iberia SA v
DSM Anti – Infectives
AB v
DSM Resins Scandinavia
AB v
Euroresins Scandinavia
v
DSM Scandinavia v
DSM Composite Resins v
DSM Spcial Products
Rotterdam v
Holland Sweetener
Company v
DSM Acrylonitrile BV v
DSM Technopartners v
DSM Fibre
Intermediates BV v
Industriele
Handelsmaatschappij Basileia v
DSM Industrial
Services v
DSM Gist Services BV v
DSM Solutech v
DSM Koniklijke v
DSM Nutritional
Products New Zealnd Limited v
DSM Bakery Ingredients
Peru v
DSM Nutritional Products Asia Pacific Private
Limited v
Anchor Yeast Private
Limited v
DSM Nutritional
Products Taiwan Limited v
DSM Nutritional Products South Africa Private
Limited v
DSM Anti – Infectives
Chemferm v
DSM Deretil v
DSM Nutritional
Products (Besin Maddeleri Limited) v
DSM Bakery Ingredients
Spain v
DSM Resins Espana v
DSM Turkey v
DSM Besin Maddeleri
Limited v
DSM Bakery Ingredients
UK Limited v
DSM Resins Far East
Limited v
DSM Taipei Limited v
Freeman Distribution
Limited v
DSM Nutritional
Products Limited (Rovithai Limited) v
DSM Nutritional
Products (UK) Limited v
DSM Comosite Resins
Inc. v
DSM Elastomers
Americas v
DSM Copolymer v
DSM Thermoplastic
Elastomers Inc. v
DSM Pharmaceutical v
DSM Pharma Chemical
South Haven v
Augusta Services
Company v
DSM Chemical North
America Inc v
DSM Nutritional
Products Inc v
DSM Food Specialties
USA v
American Melamine
Industrial v
DSM Nutritional
Products Vietnam Limited v
DSM Spcialty Compounds
NV v
DSM Engineering
Plastic Korea v
DSM Dyneema v
DSM Engineering
Plastic Taiwan v
DSM Engineering
Plastic Inc. v
DSM Composite Resins
UK Limited v
Eurcresins UK Limited v
Freeman Chemicals
Limited v
DSM Energy Limited v
DSM UK Limited v
DSM Resins US Inc. v
DSM Nutritional
Products Uruguay SA v
DSM Desotech v
DSM Pharma Chemicals
USA v
DSM Stamicarbon North
America Inc v
Holland Sweetener
North America Inc v
Nylon Polymer Company v
DSM Finance USA v
DSM Services USA v
DSM Melamine America
Inc. v
DSM Nutritional
Products Venezuela v
DSM Engineering
Plastic KK v
DSM Elastomers Asia
Limited v
DSM Engineering Asia
Limited v
DSM Engineering
Plastic Detroit v
DSM Engineering
Plastic BV |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
66,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 66.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
66,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 66.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
66.000 |
66.000 |
66.000 |
|
2] Reserves & Surplus |
47.810 |
5.917 |
0.000 |
|
3] (Accumulated Losses) |
0.000 |
0.000 |
(18.774) |
NET WORTH
|
113.810 |
71.917 |
47.226 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
0.000 |
0.732 |
1.655 |
|
2] Unsecured Loans |
127.779 |
159.184 |
131.900 |
|
TOTAL
BORROWING |
127.779 |
159.916 |
133.555 |
|
DEFERRED TAX LIABILITIES |
3.888 |
5.253 |
0.000 |
|
|
|
|
|
TOTAL
|
245.477 |
237.086 |
180.781 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
68.956 |
75.417 |
38.983 |
|
Capital work-in-progress |
0.594 |
2.042 |
4.572 |
|
Capital Advance |
0.000 |
0.000 |
0.379 |
|
Deferred Tax Assets |
0.000 |
0.000 |
5.853 |
|
|
|
|
|
|
INVESTMENTS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
138.279 |
120.215 |
87.432 |
|
Sundry Debtors |
118.555 |
99.466 |
86.364 |
|
Cash & Bank Balances |
12.796 |
0.011 |
7.604 |
|
Other Current Assets |
5.033 |
4.383 |
5.546 |
|
Loans & Advances |
7.398 |
15.569 |
7.020 |
|
Total
Current Assets |
282.061 |
239.644 |
193.966 |
|
Less : |
|
|
|
|
Current Liabilities & Provisions |
100.142 |
77.432 |
62.972 |
|
Provisions |
5.992 |
2.585 |
|
|
Total
Current Liabilities |
106.134 |
80.017 |
62.972 |
|
Net Current Assets |
175.927 |
159.627 |
130.994 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
|
245.477 |
237.086 |
180.781 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
697.217 |
593.335 |
507.092 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
64.627 |
40.047 |
9.020 |
Provision for Taxation
|
16.817 |
34.130 |
4.043 |
Profit/(Loss) After Tax
|
47.810 |
5.917 |
4.977 |
|
|
|
|
|
Export Value
|
19.090 |
11.788 |
10.110 |
|
|
|
|
|
Import Value
|
231.655 |
158.590 |
70.263 |
|
|
|
|
|
Total Expenditure
|
632.590 |
553.287 |
498.073 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
6.85 |
0.997 |
0.981
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
9.26 |
6.750 |
1.778
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
0.18 |
12.710 |
3.554
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.56 |
0.560 |
0.190
|
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
2.05 |
3.340 |
4.161
|
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
2.65 |
2.995 |
3.080
|
LOCAL AGENCY FURTHER INFORMATION
General Review
They
recorded net sales of Rs. 697 of their product in the year 2004-2005 a
increased of 18% compared with previous year. The net profit from on their
ongoing actives was Rs. 64.63 an increased on 61% they exceeded the project
profit for the year. The company had been successful in established itself as
an assured as an assured and quality supplier of world class engineering
plastic in the Indian market
All
its business activities are centered on the creation of value both for its
customer and the company as a provider of engineer plastic solutions. The work
is based on extensive knowledge of application and products the outstanding
quality of support services and high quality differentiated products. The value
additional quality and delivery introduction of global range and focused sales
and marketing efforts.
The
company specialized in the manufacturing of technologically sophisticated high
quality products that are tailored to meet customer performance criteria. They
have formulated a global marketing strategy for most of these. The product are
used in variety of end use markets
Outlook
The
outlook of the economy for the current year appears positive and is expected to
show healthy growth rate. The fastest growing economy the completion becoming
stiffer posing threats for MMC to supply material in India operation in china
etc. The company had taken price of base raw material such as Petro Products is
an area of concern and this may effect of margin next year.
Strategy
Strategy
Vision 2005 they have determined that in response to a changing business
environment characterized by the changing markets and highly qualified people
seeking challenging and responsible job. A necessary next step in this process
will be higher focus on value creations in their business through a set of
business steering matrix in alignment in their strategic and business planning
processes and management behavior
The company shifted its
Registered office from Mumbai to Pune with effect from 24th
February, 2000 and a new Registration Number 14523, of Pune R. O. C. was
obtained.
Subject
is engaged as manufacturers, processors, exporters, buyers, sellers, stockists,
distributors and dealers in all kinds of Plastics in Primary and Secondary
forms inclusive of Caprolactuns, Purified Terepthalic Acid (PTA), Di-Methyl
Terepthlate (DMT), Mono Eythelene Glycol (MEG), Polyamide 6, Polyamide 66,
Polyethylene Terepthlate (PET), Poly Butydene Terepthlate (PBT), Acrylo
Butadine Styrene (ABS), Polypropyl (PP), Low Density Polythylene (LDPE), Poly
Vinyl Alcohol (PVA) Compounds thereof and all kinds of Plastic & Rubber
products.
Fixed Assets
v
Plant & Machinery
v
Office Equipment
v
Furniture & Fixture
v
Vehicles
Newspapers clippings
DSM Takeover
Mumbai :-
DSM Engineering Plastics BV has acquired the
engineering plastics business of Century Enka Limited and established its’
subsidiary of the company. Through this venture, the company will be able to
improve its service to its’ global customers and fulfill the needs of the
growing Indian Plastic Industry. Century Enka had transferred the manufacturing
assets and application development laboratory of the engineering plastic
engineering plastic business to company, said Karl Hautekiet, Manager, India
Project. Since the last two years, the company’ products were being imported
into the country mainly by automobile, engineering and electronic industry.
Through this acquisition of the company had got a manufacturing base as well as
local compounding and test facilities in Pune.
Dsm
engineering plans to expand capacity
With the company breaking even during the first year
of operations, the company is a part of DSM N. V., Holland, is proposing to
double its capacities by setting up another plant.
Talking to business line, Mr. Nitin Kothari, Full Time
Director, the company was counting for areas in Gujarat, New Delhi and the
outskirts of Pune. This expansion was being done as the company had obtained
clearance from the FIPB for 100% ownership in Indian operations.
He said the expansion was estimated to cost Rs. 100
millions. The company was also looking at prospects for buying out local
manufacturers. HE noted that this additional capacity world cater to domestic
and global demand for plastics in the automobile, information technology,
domestic appliances and leisure industries. Seventy percent of the machinery
for this plant would be imported as this equipment was standardised throughout
its’ global operations and the rest would be sourced locally, he said.
Mr. Kothari said that the during the current financial
year, the company would also introduce in the domestic market heat-resistant
Nylon 46 which finds application in the telecom, automobile and electrical
goods sectors, especially in the manufacture of electronic connectors.
Production of these new products would be to the tune
of 400 tonnes per annum and it would cater to both domestic and global market.
The company holds the international patent for this products.
Completing operations for the first year in December
1999, the company had doubled production and sales of engineering plastics in
the domestic market and was running at 120% capacity on its local compounding
plant. The installed production capacity of the plant is 1,500 tpa, Mr. Kothari
said.
The
company has recorded a turnover of Rs. 250 millions in its’ first year of
operations and said it was targeting Rs. 400 millions for the current financial
year. It now has a market share of 8% in nylon and 15% in polyester in the
domestic Market. The company is targeting to increase these to 12% and 25%
respectively during the current financial year, the added.
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. 44.24 |
|
UK
Pound |
1 |
Rs. 86.95 |
|
Euro |
1 |
Rs. 57.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--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 |
|
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
|
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 |