MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ALAN DICK AND COMPANY [ |
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Registered Office : |
Unit 1 to 4, Building K 6, Shri Arihant Compound, Village Kopar, Thane
– 421302, |
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Country : |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
24.02.2003 |
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Com. Reg. No.: |
11-139314 |
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CIN No.: [Company
Identification No.] |
U32200MH2003PTC139314 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To market telecom and broadcasting tapes and provide infrastructure
solutions in the field of telecommunications. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
-- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Company’s
profitability is under severe pressure. It has huge accumulated losses.
Payments are reported as slow and delayed. The company can be considered for small business dealings against safe
and secured trade terms and conditions in view of huge accumulated losses. |
LOCATIONS
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Registered Office : |
Unit 1 to 4, Building K 6, Shri Arihant Compound, Village Kopar, Thane
– 421302, |
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Tel. No.: |
91-2522-325562 / 272974 / 75 |
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Fax No.: |
91-2522-274541 / 272991 |
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E-Mail : |
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Website : |
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Corporate Office : |
8, Aradhana Colony, Sector – 13, R. K. Puram, |
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Tel. No.: |
91-11-24109966 |
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Fax No.: |
91-11-24109962 |
DIRECTORS
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Name : |
Mr. Callum Andrew John Dick |
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Designation : |
Director |
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Address : |
Greenway House, Harp Hill Battledown, |
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Date of Appointment : |
24.02.2003 |
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Name : |
Mr. Paul Paul Murphy |
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Designation : |
Director |
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Address : |
34, Kings Henry Close, Cheltenham, |
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Date of Appointment : |
24.02.2003 |
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Name : |
Mr. Parminder Pal Singh Dost |
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Designation : |
Additional Director |
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Address : |
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Date of Birth/Age : |
23.06.1960 |
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Date of Appointment : |
13.11.2006 |
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Name : |
Mr. Robert Fisher |
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Designation : |
Additional Director |
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Address : |
White Cross, Winter Brook, Walling Ford, Oxon, OX 10 9 ED, GB |
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Date of Birth/Age : |
29.10.1960 |
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Date of Appointment : |
13.11.2006 |
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Name : |
Ms. Preeti Mulshankar Oza |
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Designation : |
Director |
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Address : |
14/A, Indralok, Dr. |
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Date of Appointment : |
24.02.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Alan Dick and Company Limited |
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9999 |
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Callum Andrew John Dick |
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1 |
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Total |
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10000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors / relatives of director |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
To market telecom and broadcasting tapes and provide infrastructure
solutions in the field of telecommunications. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
3rd Floor, MCT House, One Okhla Centre, Block A, Okhla
Industrial Area, |
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Tel. No.: |
91-11-55622000 |
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Associates/Subsidiaries : |
Alan Dick and Company Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[3.473] |
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NETWORTH |
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[3.373] |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.108 |
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TOTAL |
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[3.265] |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.788 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.474 |
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Sundry Debtors |
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3.444 |
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Cash & Bank Balances |
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1.711 |
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Other Current Assets |
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5.177 |
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Loans & Advances |
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2.123 |
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Total
Current Assets |
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17.929 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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22.982 |
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Provisions |
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Total
Current Liabilities |
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22.982 |
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Net Current Assets |
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[5.053] |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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[3.265] |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Income |
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17.475 |
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Profit/(Loss) Before Tax |
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[3.365] |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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[3.365] |
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Earnings in Foreign Currency : |
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Export Earnings |
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1.722 |
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Service Income |
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9.691 |
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Total Earnings |
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11.413 |
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Expenditures : |
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Interest |
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0.011 |
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Depreciation & Amortization |
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0.130 |
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Other Expenditure |
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20.699 |
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Total Expenditure |
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20.840 |
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KEY RATIOS
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PARTICULARS |
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31.03.2004 |
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PAT / Total Income |
(%) |
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[19.25] |
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Net Profit Margin (PBT/Sales) |
(%) |
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[19.25] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[17.07] |
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Return on Investment (ROI) (PBT/Networth) |
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[1.00] |
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Debt Equity Ratio (Total Liability/Networth) |
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[6.18] |
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Current Ratio (Current Asset/Current Liability) |
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0.78 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from Corporate
Centre -12, C Rajdeep Complex,
Fixed Assets
- Computers
- Furniture and
Fixture
- Office Equipment
- Software
Directors Report
During the period under report the company has made a Net Loss of Rs.
3.365 Millions. This being the first year of business operations the directors
anticipate encouraging results in the coming year.
Background
The company is a closely held company with 9999 shares being held by
Alan Dick and Company Limited, UK and the balance 1 share being held by an
individual resident outside India.
Product
Cellular
Products, Services and Solutions for
Wireless and Telecommunication Networks 
- Cellular
Antennas
- Co-Accs
- Tower
- In-building
System Components
- Repeaters
& Boosters
- Filter
Systems
- Feeders
& Accessories
- Wireless
Installation Components
- Towers,
Masts & Monopoles
- Rooftop
Solutions
- Environmental
Solutions
- Rapid
Deployment
- Equipment
Shelters
Radar/Surveillance
Turnkey Solutions for
Military/Civil Surveillance and Telecommunications
- Radar
Systems Infrastructure
- Satellite
Systems Infrastructure
- Simulators
& Project Screens
- Towers
& Masts
Broadcast
Turnkey Solutions for Broadcast
Infrastructure
- Antennas
- Combiners
& Filters
- Transmission
Line Components
- Towers
& Masts
- System
Packages
Broadband
Fixed Line & Wireless
Infrastructure for
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.41 |
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1 |
Rs.81.37 |
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Euro |
1 |
Rs.54.98 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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16 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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