MIRA
INFORM REPORT
|
Report Date : |
02.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
D. B. ENGINEERING PRIVATE LIMITED |
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Registered Office : |
81, Jor Bagh, New Delhi – 110003 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.12.1986 |
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Com. Reg. No.: |
55-26541 |
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CIN No.: [Company
Identification No.] |
U74899DL1986PTC026541 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06116F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Industrial Knives, Blades and Tooling |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 325000 |
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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 company having fine track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Financial position is satisfactory. Payments are correct and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
81, Jor Bagh, New Delhi – 110003 |
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Tel. No.: |
91-11-24615687/24643581 |
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Fax No.: |
91-11-24628275 |
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E-Mail : |
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Website : |
http://www.skberi.com
(Group Company’s Web Site) |
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Corporate Office/ Factory : |
A-119, Okhla Industrial Area, Phase – II, New Delhi – 110
020 |
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Tel. No.: |
91-11-26385027/26384462/26385177/26386454 |
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Mobile No. : |
91-9810052548 |
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Fax No.: |
91-11-26846453/24628275 |
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E-Mail : |
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Area : |
40000 sq. ft. |
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Location : |
Industrial |
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Factory 1 : |
A – 32, Sector 64, Noida – 201301, Uttar Pradesh, India C - 27, Sector -
59, Noida-201301, Uttar Pradesh, India Phone :
91-120-2580585/ 2583462 |
DIRECTORS
|
Name : |
Mr. Ramesh Beri |
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Designation : |
Director |
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Address : |
81, Jor Bagh, New Delhi – 110003 |
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Date of Birth : |
21.01.1942 |
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Date of Appointment : |
31st
December 1986 |
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Name : |
Mr. Atul Beri |
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Designation : |
Director |
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Address : |
81, Jor Bagh, New Delhi – 110003 |
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Date of Birth : |
29.08.1963 |
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Date of Appointment : |
31st
December 1986 |
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Name : |
Mr. Deepak Beri |
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Designation : |
Director |
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Address : |
E – 539, Greater Kailash Part – II, New Delhi – 110048, India |
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Date of Birth/Age : |
14.06.1960 |
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Date of Appointment : |
1st January
2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mr. Ramesh Beri |
3400 |
11.25 |
|
Mr. Atul Beri |
8400 |
27.80 |
|
Mr. Deepak Beri |
5000 |
16.55 |
|
Mr. Karan Beri |
2900 |
9.60 |
|
Mr. Surender Kumar Beri |
10000 |
33.10 |
|
Ms. Rekha Beri |
500 |
1.66 |
|
Ms. Anuja Beri |
5 |
0.02 |
|
Ms. Nandita Beri |
5 |
0.02 |
|
TOTAL |
30210 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Industrial Knives, Blades
and Tooling |
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|
|
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Products : |
Ř
HR and CR
slitting cutters Ř
Slitting
Pacers Ř
Over arm
Pacers and Separator Ř
Rolling Mill
Rolls Plastic Packaging
Paper Conversion
Granulators
Rolls For Sizing, Forming, Finpass Welding, Turkhead, Flattering, Straightening.
Cut To Length Blades End Shearing Blades Metal Shearing Cutters
Horizontal & Vertical Tube Blades & COC Blades
Top & Bottom Slitter Knives With Complete Knife Assemblies
Wood Chipper Knives Re chipper Knives Bamboo Chipper Knives Straw Cutter Knives Rag Cutter Knives Beater Bars Manufactured from selected materials and quality heat treated to
ensure best performance from knives. Multiple Block Knives for Paper Slitting & Rewinding
Simplex / Duplex Sheet Cutter Knives
Combined Iron & Steel Guillotine & Trimmer Knives. High Speed
Steel Inlaid Guillotine & Trimmer Knives
Pneumatic Individual Knife Holders, Crush Cut Knife Holders, Shear Cut
Knife Holders, Spring Loaded Knife Holders, Knife Holder Assemblies
Guillotine Shears
Hot Crop Shears & Scarp Shears Billet & Bloom Shears Flying
Shears
Crop Shears For Angles, Channels,T Sections, Beams,Rounds, Square
& Other Sections. Billet Shears For Forging & Rolling Mills Notching & Punching
Tools Scrap Choppers & Recycling Blades
Wide Range Of Tooling For CNC Press Brakes, And Conventional Bending
& Forming Machines.
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Exports : |
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Countries : |
Europe, England, USA, Australia and New Zealand |
GENERAL
INFORMATION
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No. of Employees : |
250 |
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Bankers : |
Canara Bank Okhla Industrial Estate, New Delhi Oriental Bank of Commerce Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
S C Verma and Company Chartered Accountants |
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Address : |
A-60, NDSE Part – I, New Delhi – 110 04 |
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Tel. No.: |
91-11-24648247/24649845 |
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Fax No.: |
91-11-24649330 |
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E-Mail : |
scvarma@scvandco.com |
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PAN No. : |
AACFS1889H |
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Group Companies : |
S K Beri and Brothers S K Beri Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
51210 |
Equity Shares |
Rs. 100/- each |
Rs. 5.121
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.121 |
5.121 |
3.021 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
76.206 |
66.495 |
61.845 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
81.327 |
71.616 |
61.845 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.648 |
38.074 |
23.584 |
|
|
2] Unsecured Loans |
0.954 |
1.473 |
4.808 |
|
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TOTAL BORROWING |
45.602 |
39.547 |
28.392 |
|
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DEFERRED TAX LIABILITIES |
5.347 |
5.882 |
1.763 |
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|
|
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TOTAL |
132.276 |
117.045 |
95.021 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
84.763 |
72.433 |
74.487 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
26.751
|
50.065 |
17.536
|
|
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Sundry Debtors |
89.684
|
71.536 |
53.178
|
|
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Cash & Bank Balances |
16.212
|
7.167 |
4.574
|
|
|
Other Current Assets |
1.551
|
3.275 |
10.781
|
|
|
Loans & Advances |
12.979
|
11.478 |
2.342
|
|
Total
Current Assets |
147.177
|
143.521 |
88.411 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
99.095
|
98.268 |
67.418
|
|
|
Provisions |
0.569
|
0.641 |
0.459
|
|
Total
Current Liabilities |
99.664
|
98.909 |
67.877 |
|
|
Net Current Assets |
47.513
|
44.612 |
20.534 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
132.276 |
117.045 |
95.021 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2004 |
|
Sales Turnover |
|
|
206.131 |
|
Other Income |
|
|
0.000 |
|
Total Income |
|
|
206.131 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
17.410 |
|
Provision for Taxation |
|
|
1.037 |
|
Profit/(Loss) After Tax |
|
|
16.373 |
|
|
|
|
|
|
Total Earnings |
|
|
116.048 |
|
|
|
|
|
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Total Imports |
|
|
14.160 |
|
|
|
|
|
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Total Expenditure |
|
|
180.428 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
--
|
-- |
7.94 |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
-- |
8.44 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
--
|
-- |
7.50 |
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Return on Investment (ROI) (PBT/Networth) |
|
--
|
-- |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
1.93 |
1.55 |
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|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.45
|
0.39 |
0.41 |
LOCAL AGENCY
FURTHER INFORMATION
Business :
To carry on business of iron and steel founders, steel melters, steel
makers, steel shapers and manufacturers, mechanical, civil, electrical and
general engineers and fabricators, contractors, tool makers, brass founders,
metal workers, manufacturers of steel, metal and malleable grey, casting
including ferrous, non-ferrous, special and alloy steel, spring steel, forging
quality processors of all types of forged components and accessories alloys,
nuts, bolts, steel rounds nails, tools all types of hardware items, plate
makers, wire drawers, tube manufacturers, galvanizers, jappaners, re-rollers,
annealors, enamellers and electroplaters and to buy, take on lease or hire,
sell, import, export, manufacture, process, repair convert, let on hire
otherwise deal in such products their raw materials, stores, packing materials,
by products and allied commodities, machineries, rolling stock, implements,
tools, utensils and ground tools materials and to carry on the said business in
all or any of its branches.
To set up steel furnaces and continuous casting and rolling mill plant
for producing steel and alloys ingots, steel and alloy steel billets and all
kinds and sizes of re-rolled sections, i.e. flats, angles, rounds, T-Iron
aquares, hexagons, octagons, nails jolata, channels, steel strips, sheets,
plates, deformed bars, plain and cold twisted bars, bright bars, shaftings and
steel structural.
Form 8 Particular for creation or modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U74899DL1986PTC026541 |
|
Name of the company |
D. B. ENGINEERING
PRIVATE LIMITED |
|
Address |
81, Jor Bagh, New Delhi
– 110003 |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Canara Bank Okhla Industrial Estate, New Delhi – 110019, India E-mail : sjatech@touchtelindia.net |
|
Amount Secure by the charge |
Rs. 2.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
The above is to secure FDB / FBE limit of 2.000 millions with interest as specified by the bank from time to time. The above is to secure FDB / FBE limit of 2.000 millions with interest as specified by the bank from time to time |
|
Description of the property charge whether it is a charge on |
Plant and machinery |
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Brief description of the instrument modifying the charge |
Supplemental collateral security agreement and letter evidencing deposit of title deeds [3 No.] |
|
Date of instrument modifying the charge |
19.08.2006 |
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Particulars of the Property charged |
Plant and machinery as per annexure to deed of hypothecation of machinery dated 15th February, 1995 and installed at F – 61, Sector – XI, Noida [Uttar Pradesh] and A- 119, Okhla Industrial Area, Phase – II, New Delhi or lying at any other place wheresoever |
|
Particulars of the present modification |
FDB / E limit stands enhanced from Rs. 25 millions to Rs. 35 millions is collateral secured by P & Mach & Property at Plot No. 32, Block – A, Sec – 84, Plot No. 27, Block – C, Sec – 59, Plot No. 61, Block – F, Sec – 11, Noida, Uttar Pradesh |
|
Name of the
company |
D. B. Engineering Private Limited |
|
Presented By |
Canara
Bank |
|
1) Date and description of instrument creating the change |
Hypothecation Agreement for packing credit Advances dated 15.02.1995 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.500 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hyp. of stock of raw materials, semi finished and finished goods in the manufacture of including knives or special knives and all other goods and commodities which belong to the company and that may be stored at Plot No. F – 61, Sector XI, Noida [Uttar Pradesh], or at Plot No. A – 119, Okhla Industrial Area, Phase – II, New Delhi, including those in transit |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest to be charged @ 25% inclusive of penal interest or subject to change in the rate of interest as may be advised by RBI / Bank from time to time |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Okhla Industrial Estate, New Delhi |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
PROFILE
D .B. Engineering is a professionally managed
organization that has rooted itself firmly with its quality products and
exclusive services. The inception of the group in 1951 was based on firm
principles of quality consciousness, attention to minute details combined with
cost-effectiveness. At D.B. Engineering, we offer a vast range of products for
use in the Metal, Paper, Printing and Packaging, Plastic, Wood, Rubber and
Allied industries. They take pride in being not just manufacturers but "Solution
Providers".
Atlas Knives-the hallmark of excellence in industrial knives is the premier
product of D.B. Engineering Private Limited. Their Atlas industrial knives and
blades enjoy the reputation of being "The complete cutting solution"
world-wide and are accepted in over 60 countries across the World for their
quality and superb performance. Delivered at the right price and at the right
time, their products have earned an indubitable reputation for them that has
grown steadily over the years ensuring 50 years of undisputed leadership,
excellence and appreciation.
Quality assurance
Quality has always
been a priority with them since the very beginning. They are driven by the
motive of developing highest quality product with least turn-around time and
good price performance ratio, thereby creating exceptional value for their
customers. Their products are prepared out of the best quality raw materials.
At D. B. Engineering Private Limited, quality of the manufactured products is
ensured by various quality measures to which the products are subjected in the
technically upgraded laboratory under the supervision of designated quality
control personnel. The company is also equipped for complete material testing
facilities.
NEW PRODUCTS
Atlas Cryo
Atlas Cryo-cryogenic
treatment by makers of Atlas knives
Cryogenics is the
method of ultra low temperature processing of materials to enhance their
metallurgical properties. This process involves cooling the tools, knives and
blades to Temperature as low as - 196° C to or 310°F in precise computer
controlled programmed cycles, keeping the material at low temperature for a
specified time and then getting them back to room temperature in a controlled
fashion.
Atlas Ultra
To cater to the
demands of the paper and pulp industry, D. B. Engineering Private Limited has
introduced futuristic ultra grade knives with praiseworthy attributes like high
speed, high precision cutting, accurate sizing, minimum down time and long
trouble free life. These new generation knives use high alloys, latest heat
treatment techniques, sharp cuttings, close tolerances and numerous other
impressive features.
Atlas ultra knives
are guaranteed for trouble free and flawless operation.
Tungsten Carbide
Atlas Tungsten
carbide knives for paper industry
They are preferred
over other knives in Modern paper industry due the fact that Tungsten Carbide
is a highly wear resistant material and is very stable which means that
Tungsten Carbide knives have a very long life time.
Powder Metallurgy knives
(Atlas Ultra series
2000 and Atlas Future knives)
Powder Metallurgy
knives are phenomenon for Advanced Knife technology. D.B. Engineering Private
Limited is the first company to introduce powder metallurgy knives in India.
Powder Metallurgy knives are now popular worldwide and are mainly used by
leading Paper industries. However they can be used for other industries as well
as for special applications.
PRODUCTION FACILITIES
Their production
facilities in India are constantly upgraded to global standards and are the
largest of its kind in the industry. Spread over an area of more than 120,000
sq. ft. covering 5 production units in and around New Delhi, they have their
own in-house State of the Art, heat-treatment and cryogenic facilities. Their
latest state-of-the-art CNC machining, turning centres and grinding machines
conform to the highest international standards.
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 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.44.28 |
|
UK Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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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