MIRA
INFORM REPORT
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Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
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Name : |
DHALL FOODS AND
BEVERAGE PRIVATE LIMITED |
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Registered Office : |
5, Community
Centre, East of Kailash, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
08.10.1987 |
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Com. Reg. No.: |
029422 |
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CIN No.: [Company
Identification No.] |
U74899DL1987PTC029422 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD07636G/
DELD04803B |
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PAN No.: [Permanent
Account No.] |
AABCD5795M |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of
Liquors |
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 : |
USD14000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are usually correct and
as per commitments. The company can be considered normal for business
dealings at usual trade terms and conditions.
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LOCATIONS
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Registered Office : |
5, Community Centre,
East of Kailash, |
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Tel. No.: |
91-11-46571203/
1204/ 1205 |
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Mobile No.: |
91-9811111524/
9873111118/ 9811111672/ 9811591507 |
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Fax No.: |
91-11-46571203/
1204/ 26482489 |
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E-Mail : |
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Website : |
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Location : |
Commercial |
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Warehouse : |
F – 90/32, Okhla
Industrial Area, Phase I, |
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Tel. No.: |
91-11-42701434/
1490 |
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Mobile No.: |
91-9810292061 |
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Location : |
Industrial |
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Dhall Liquors
: |
B-4, Mayur
Apartments, 40-41, Raj |
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Tel. No.: |
91-141-2222677/
2221678 |
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Fax No.: |
91-141-2222201 |
DIRECTORS
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Name : |
Mr. S Gurinder
Pal Singh Dhall |
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Designation : |
Chief Executive
Officer and Managing Director |
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Address : |
E-152, Sanik
Farms, |
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Date of Appointment : |
08.10.1987 |
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Name : |
Mr. Harveena
Dhall |
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Designation : |
Director |
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Address : |
E-152, Sanik
Farms, |
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Date of Appointment : |
08.10.1987 |
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Name : |
Mr. Arjun Deep
Singh Dhall |
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Designation : |
Executive
Director |
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Address : |
E-152, Sanik
Farms, |
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Date of Appointment : |
25.08.2005 |
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Name : |
Mr. Vikramjeet
Singh Dhall |
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Designation : |
Executive Director
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Address : |
E-152, Sanik
Farms, |
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Date of Appointment : |
25.08.2005 |
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Name : |
Mr. Sahibjeet
Singh Dhall |
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Designation : |
Director |
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Address : |
E-152, Sanik
Farms, |
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Date of Appointment : |
10.12.2002 |
KEY EXECUTIVES
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Name : |
Subhash Gupta and
Associates |
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Designation : |
Company Secretary
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Address : |
1872, Sector – 8,
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Mobile No. : |
91-9811833270 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. S Gurinder
Pal Singh Dhall |
96000 |
96.00 |
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Ms. Harveena
Dhall |
1000 |
1.00 |
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Mr. Arjun Deep Singh
Dhall |
1000 |
1.00 |
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Mr. Vikramjeet
Singh Dhall |
1000 |
1.00 |
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Mr. Sahibjeet
Singh Dhall |
900 |
0.90 |
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Mr. Rakesh Ahuja |
100 |
0.10 |
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Total |
100000 |
100.00 |
Equity share breakup
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers of
Liquors |
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Products : |
Liquors |
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Imports From: |
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Terms : |
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Selling : |
On Credit basis. |
GENERAL INFORMATION
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Suppliers : |
Subject also imports Liquor from the following: ª Bernard Magrez, France ª Mahler Besse , France ª
Carton ª
J P ª
ª
Louis Felipe Edwards, ª
Ironstone Vineyards, ª
ª
Cantina ª
Cantina ª
Dorigo Wines, ª
ª
Dragon Seal ª
Dynasty ª
Sake Jap |
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Customers : |
Subject is supplying whisky, wine and other liquor to the following; ª Park Royal and Shangrila Hotel ( Eros Group of Hotels ) ª
ª
The Grand Hotel, ª
Claridges Hotel, ª
Taj Group of Hotels in ª
Hyatt Regency, ª
ITC Maurya Sheraton Hotel and Towers, ª
Imperial Hotel, ª Uppal Orchid Hotel, Gurgaon ª
Park Hotel, ª
Radisson Hotel, ª Palace on Wheels Trains ª Rajasthan Tourism Department ª Delhi Tourism Department ( DTTDC ) ª Delhi State Industrial Dev Corp ( DSIDC ) ª
Diplomatic Missions : American, British,
French, Restaurants |
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No. of Employees : |
Around 200 |
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Bankers : |
®
ICICI
Bank ®
Standard
Chartered Bank ®
Bank
of Rajasthan ®
Citi
Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ram Rattan and
Associates Chartered
Accountants |
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Address : |
104, Hans Bhawan 1, Bahadur Shah Zafar Marg, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
110000 |
Equity Shares |
Rs. 10/- |
Rs. 1.100 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- |
Rs. 1.000 millions |
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 |
1.000 |
1.000 |
1.000 |
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2] Reserves & Surplus |
2.551 |
7.332 |
5.945 |
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NETWORTH |
3.551 |
8.332 |
6.945 |
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LOAN FUNDS |
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1] Secured Loans |
2.508 |
26.851 |
4.994 |
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2] Unsecured Loans |
35.466 |
38.220 |
41.394 |
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TOTAL BORROWING |
37.974 |
65.071 |
46.388 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.059 |
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TOTAL |
41.525 |
73.403 |
53.392 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.324 |
4.397 |
5.914 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
1.408 |
0.137 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.955
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0.807 |
0.000 |
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Sundry Debtors |
5.781
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1.837 |
0.000 |
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Cash & Bank Balances |
0.858
|
2.658 |
0.227 |
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Loans & Advances |
26.875
|
122.143 |
104.725 |
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Total
Current Assets |
39.469
|
127.445 |
104.952 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.645
|
56.571 |
56.314 |
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Provisions |
1.031
|
2.005 |
1.160 |
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Total
Current Liabilities |
2.676
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58.576 |
57.474 |
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Net Current Assets |
36.793
|
68.869 |
47.478 |
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TOTAL |
41.525 |
73.403 |
53.392 |
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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 [including other income] |
NA |
23.641 |
22.872 |
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Profit/(Loss)
Before Tax |
NA |
2.048 |
2.934 |
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Provision for
Taxation |
NA |
0.661 |
1.170 |
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Profit/(Loss)
After Tax |
NA |
1.387 |
1.764 |
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Total Expenditure |
NA |
12.765 |
11.732 |
KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
NA
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5.87 |
7.71 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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186.52 |
-- |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
NA
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1.05 |
1.59 |
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Return on
Investment (ROI) (PBT/Networth) |
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NA
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16.65 |
25.40 |
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Debt Equity Ratio (Total
Liability/Networth) |
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11.45
|
7.81 |
6.68 |
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Current Ratio (Current
Asset/Current Liability) |
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14.75
|
2.18 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
Subject imports Spirits, Wines,
The subject is an Authorised Distributor for the following companies:
ª The Edrington Group
Products - Macallans & Famous Grouse Scotch and Malt Whiskies
ª SNCP.Frapin and Cie
Products –
ª Champagne Gosset
Products –
ª Borco World of Spirits
Products - Tequila / Gin
ª Joseph Cartron
Products – Cocktail Liqueurs
ª Vincent Van Gogh
Products – Flavoured Vodkas
ª Patron Spirits
Products – Premium Tequila / Pyrat Rum
ª Heneiken F/ E.
Products – Amstel lager/light beer / Murphy's Stout
ª Illva Saronno
Products – Amaretto / Sambuca
ª UDV Diageo
Products – Johnnie Walker Whisky
ª Campari International
Products – Cinzano / Campari
Subject is exports
whisky, wine and other Liquor.
The subject deals in liquor of the following brands:
ª
Leres
ª Priorat-Espagne
ª Maroc
ª Argentine
ª Saint Emilion
ª Toro Espangne
ª Burgandy
ª Cote de Beaune
ª Great Beau Jolias & Maconnais
ª Valle Du Rhone
ª Cartier
ª Bvlgari
ª Vertu
ª Salvatroe Ferragamo
ª Louis Vuitton
ª
ª Armani
ª Boss
ª LVMH
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.97 |
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|
1 |
Rs.80.73 |
|
Euro |
1 |
Rs.54.56 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
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