MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
DHIMAN INDUSTRIES |
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Registered Office : |
53 /19, Old Rajinder Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1944 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of high speed Candy, Toffee, Bubble Gum,
Lollipop Making and related packaging Machines |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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Status : |
Satisfactory |
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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 concern having satisfactory
track. Proprietor is reported as experienced
and respectable businessman. Trade
relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
53 /19, Old Rajinder Nagar, |
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Tel. No.: |
91-11-25810114, 25783731 |
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Fax No.: |
91-11-25889865 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq.fts. |
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Location : |
Rented |
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Factory 1 : |
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Tel. No.: |
91-1821-220018, 220118, 222118 |
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Fax No.: |
91-1821-221118 |
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E-Mail : |
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Area : |
2000 Sq. mtrs. |
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Location : |
Owned |
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Factory 2 : |
G -1, Sulabh Apartment, Near Gurudwara Gobind Dham, Behind Westernd park,
Thaltej, Ahmedabad, |
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Tel. No.: |
91-079-26857039 |
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Mobile No.: |
91-9825006724 |
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E-Mail : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Arminder Singh Dhiman |
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Designation : |
Proprietor |
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Mobile No.: |
91-9810397534, 9815627000 |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
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Experience : |
18 years |
KEY EXECUTIVES
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Name : |
Mr. Gurbachan Singh Dhiman |
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Designation : |
Chairman |
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Name : |
Mr. Y S Negi |
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Designation : |
Manager |
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Mobile No.: |
91-9810397534 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of high speed Candy, Toffee, Bubble Gum, Lollipop
Making and related packaging Machines |
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Products : |
Food processing machinery for confectionery production |
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Exports to: |
African and Gulf Continents |
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Terms : |
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Selling : |
Advance, Cash or Credit (30 days to 45 days) |
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Purchasing : |
Cash or Credit (30 days) |
PRODUCTION STATUS
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Installed Capacity, Actual production Capacity to increase production by 25 % |
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GENERAL INFORMATION
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Suppliers : |
Local Purchase of machine Parts, Motors |
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Customers : |
v
Perfetti Van Melle India Private Limited v
Lotte v
Parlay |
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No. of Employees : |
150 |
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Bankers : |
v
Bank of v
ICICI Bank Limited – Karol Bagh, |
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Facilities : |
No Overdraft |
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Banking
Relations : |
Satisfactory |
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Memberships : |
v
ITPO v
NSIC v
EEPC v
APEX v
FICCI v
Indo-German Chamber of Commerce |
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Associates/Subsidiaries : |
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Name: |
Dhiman Exports |
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Line of
Business: |
Merchant Export House |
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Sales Turnover: |
Rs. 50.000 millions |
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Name: |
Dhiman Foods Private Limited |
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Line of
Business: |
Confectionery Manufacturing Plants |
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Sales Turnover: |
Rs. 30.000 millions |
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Name: |
Snazy Health Products Private Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 50.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 50.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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400.000 |
350.000 |
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Profit/Loss for the year |
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7 % |
NA |
Expected Sales (2007-08): Rs. 500.000 millions
LOCAL AGENCY FURTHER INFORMATION
The company was established in 1944 by Late Mr. S Mohan Singh Dhiman in
Nakodar, Punjab (
It is a ISO- 9001 certified company.
The company has been honored with prestigious Gold Medal, Certificate of
Excellence, and “Bhartiya Udyog Ratan”Award, “Arch of Europe Award for
Excellence and Quality.
Website details attached
Subject was established in 1944 by late S. Mohan Singh Dhiman in
Nakodar, Punjab (
They have been able to achieve this with the constant upgradation of their
manufacturing systems and facilities. It is now equipped with fully automatic
Computerized Numerical Control (CNC) machines where only raw material or
casting is mounted and 100% completely machined components are down loaded
untouched by hand. Their new high speed Models introduced in 1995 find
preference with the customers all over the world for being faster, having lower
down time, user friendliness and economical in operation. Repeated orders from
Indian and overseas manufacturers of confectionery products bear testimony to
this fact. They also supply plants on turnkey basis.
Subject started in the year 1944 has established
itself as a leading ISO-9001 certified manufacturer and exporter of high speed Candy, Toffee, Bubble Gum, Lollipop Making and
related Packaging Machines. The company was incepted with the motive of
providing world class Toffee-Candy Bubble Gum Lollipop Plants. We manufacture
these machines in accordance to quality, technology and total number of
installations. Dhiman Industries
has specialized in various types of Food
Processing Industries, Packaging Machines, Confectionery Products, Various Raw
Materials and Packaging Materials for the confectionery
industry.
Potential
Subject has followed its vision of manufacturing world class Confectionery Machines all these
years. Primarily the company deals with Drop
Rollers and now it has gone on to become one of the well
renowned manufacturer and exporter of the latest machines all over the world.
Infrastructure
The company offers complete solution from cooking to packaging under one roof
for the confectionery industry. The
machines are incorporated with latest instrumentations and control systems in
order to produce the best. To guarantee highest performance level of the
machines, the components are manufactured on latest CNC machine tools using
CAD/CAM systems. The company has also established full fledged in-house
manufacturing facilities for Toffee,
Candy, Bubble Gum, Lollipop and Chicklet in order to conduct
appropriate testing for new designs.
Achievements
After sales service is the hallmark of the company's philosophy. subject has build up an outstanding
reputation and is an undisputed leader in its field. They have been honored with
prestigious Gold Medal, Certificate of Excellence, "Bhartiya Udyog
Ratan" Award, "Arch of Europe" Award for Excellence and Quality,
The working process
The company has been able to achieve all this with the constant upgradation of
their production process and facilities. Subject is equipped with fully automatic Computerized Numerical
Control (CNC) machines where only raw materials or casting is mounted and
absolute machined components are down loaded untouched by hand. Repeated orders
from the Domestic and International manufacturers of confectionery products
bear testimony to the fact of quality proven services.
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. 40.54 |
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1 |
Rs. 80.21 |
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Euro |
1 |
Rs. 54.51 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
9 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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51 |
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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