MIRA
INFORM REPORT
|
Report Date : |
08.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
INDUSTRIAL
DEVELOPMENT SERVICES PRIVATE LIMITED |
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Registered
Office : |
M-1,
Kanchanjunga, 18, Barakhamba Road, New Delhi – 110 001 |
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Country : |
India |
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Financials (as
on) : |
31.03.2006 |
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Date of
Incorporation : |
13.03.1968 |
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Com. Reg. No.: |
55-4856 |
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CIN No.: [Company
Identification No.] |
U74899DL1968PTC004856 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
DELI04403A |
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PAN No.: [Permanent
Account No.] |
AAACI0175R |
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Legal Form : |
A private limited liability company |
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Line of
Business : |
Providing services
like Project Identification, Market Surveys/Demand Studies,
Feasibility/Project Reports, Project Appraisal, Rehabilitation Packages and
Policy Studies. |
RATING &
COMMENTS
|
MIRA’s Rating
: |
Ba |
RATING
|
STATUS |
PROPOSED
CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Maximum Credit
Limit : |
USD 40000 |
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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 company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are fair.
Payments are usually correct and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
M-1, Kanchanjunga,
18, Barakhamba Road, New Delhi – 110 001, INDIA |
|
Tel. No.: |
91-11-23313469/23312287/23314714/23722543 |
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Fax No.: |
91-11-23738227/23316470 |
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E-Mail : |
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Website : |
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Area : |
Rented -- 2,200 sq.fts. |
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Location : |
Commercial |
DIRECTORS
|
Name : |
Mr. Brij Lal Dhar |
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|
Designation : |
Chairman |
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Address : |
Apartment A-4, 9-Raj Narain Road, Civil Lines, Delhi-110054, India |
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Date of Birth
: |
01.10.1928 |
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Date of Appointment
: |
01.04.2002 |
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Name : |
Mr. Ram Kumar
Gupta |
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Designation : |
Managing Director |
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Address : |
House No.4377/4-B, Ansari Road, Darya Ganj, New Delhi-110002, India |
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Date of Birth
: |
20.05.1948 |
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Date of
Appointment : |
01.07.1999 |
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Name : |
Mr. Lakshmi Chand
Jain |
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Designation : |
Director |
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Address : |
D-5, Tharangavana, Raj Mahal Vilas Extension, 12th Cross
Road, Bangalore-560080, Karnataka, India |
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Date of Birth
: |
13.12.1925 |
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Date of Appointment
: |
15.12.1998 |
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Name : |
Dr. Inder Bhushan
Gulati |
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Designation : |
Director |
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Address : |
L-28/5, DLF Qutab Enclave, Phase II, Gurgaon-1220002, Haryana, India |
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Date of Birth
: |
10.12.1925 |
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Date of
Appointment : |
01.07.2000 |
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Name : |
Mr. Dharam Paul
Gupta |
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Designation : |
Director |
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Address : |
BA/11-F, DDA Flats, Munirka, New Delhi-110067 |
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Date of Birth
: |
02.08.1944 |
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Date of
Appointment : |
01.04.2000 |
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Name |
Mr. R. K. Gupta |
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Designation |
Managing Director
(w.e.f. 01.07.1999) |
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Address |
4377/4B, Ansari
Road, Daryaganj, Delhi – 110 002 |
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Year of Birth |
1948 |
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Date of
Joining |
01.09.2001 |
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Qualification |
B. Technical |
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Experience |
26 Years |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
|
Ms. Lakshmi Chand
Jain |
31 |
|
Mr. Gokul Laroia |
5628 |
|
Mr. R. Prasad
Mororka |
1148 |
|
Ms. Madhu Krishna |
1680 |
|
Mrs. Usha Narain |
364 |
|
Mr. Brij Lal Dhar |
50 |
|
Mrs. Devaki Jain |
140 |
|
Mrs. Neena Laroia |
868 |
|
Mr. Gopal Krishna
Jain |
7108 |
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Mr. Srinivasan
Jain |
1485 |
|
Mr. Ram Kumar
Gupta |
75 |
|
Mr. Dharam Kumar
Gupta |
75 |
|
Mr. Chand Prakash
Jain |
75 |
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Mrs. Vandana
Sachdeva |
75 |
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Ms. Rekha Misra |
75 |
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Mr. Rajeev Koul |
75 |
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Ms. Monica Koley |
75 |
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Mr. John Oommen V |
75 |
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Mr. Thanukuttan
S. |
75 |
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Ms. Veena Kapoor |
75 |
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Mr. Sher Singh
Nainwal |
75 |
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Mr. S. Babu
Prakash |
75 |
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Ms. Uma Naidu |
75 |
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Mr. Vinod Kumar |
75 |
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Mr. Pan Singh
Bishat |
75 |
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Mr. Prem Singh
Patwal |
75 |
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Ms. Netra Singh
Negi |
75 |
|
Ms. Shambhavi
Patil |
75 |
BUSINESS DETAILS
|
Line of
Business : |
Providing services
like Project Identification, Market Surveys/Demand Studies,
Feasibility/Project Reports, Project Appraisal, Rehabilitation Packages and
Policy Studies. |
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|
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Products : |
Market Research
and Management Consultants |
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Terms : |
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Selling : |
Contract basis |
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Purchasing : |
Cash and Credit
(30 days) |
GENERAL
INFORMATION
|
Customers : |
v Tata Iron & Steel Company Limited,
India v Indian Oil Corporation Limited, India v Bharat Petroleum Corporation Limited,
India v Jetro v Larsen & Tourbo Limited v
Sunflag Iron
& Steel Company Limited, India |
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|
|
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No. of
Employees : |
25 |
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|
|
|
Bankers : |
v Syndicate Bank, 19, Barakhamba Road, New
Delhi – 110 001 v State Bank of India, 28, Kasturba Gandhi
Marg, New Delhi – 110 001 v UTI Bank Limited, 148, Barakhamba Road,
New Delhi v
ICICI
Limited, 163, Backbay Reclamation, Mumbai-400020 |
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Banking Relations : |
Satisfactory |
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Auditors : |
G. Basu &
Company Chartered
Accountants 2, Jeevan Tara
Building, Parliament
Street, Post Box No. 573, New Delhi – 110
001 |
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Tel. No.: |
91-11-23361715/26494230 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25,000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21,000 |
Equity Shares |
Rs.100/- each |
Rs. 2.100 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 |
2.100 |
2.100 |
2.100 |
|
2] Reserves & Surplus |
7.086 |
5.373 |
4.790 |
NETWORTH
|
9.186 |
7.473 |
6.890 |
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|
|
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|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
1.635 |
0.680 |
0.530 |
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
TOTAL
BORROWING |
1.635 |
0.680 |
0.530 |
|
Deferred Tax Liability |
0.023 |
0.045 |
0.029 |
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TOTAL
|
10.844 |
8.198 |
7.449 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.377 |
1.351 |
1.017 |
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENTS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
Other Current Asset |
0.000 |
0.000 |
0.000 |
|
Sundry Debtors |
1.147 |
0.413 |
2.505 |
|
Cash & Bank Balances |
8.198 |
4.679 |
3.118 |
|
Loans & Advances |
5.447 |
5.626 |
5.281 |
|
Total Current Assets |
14.792 |
10.718 |
10.904 |
|
Less : |
|
|
|
|
Current Liabilities |
1.283 |
|
4.472 |
|
Provisions |
4.042 |
2.785 |
|
|
Total Current Liabilities |
5.325 |
3.871 |
4.472 |
|
Net Current Assets |
9.467 |
6.847 |
6.432 |
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|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL
|
10.844 |
8.198 |
7.449 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Total Income |
13.605 |
8.560 |
9.284 |
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|
|
|
|
|
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|
Profit/(Loss) Before Tax |
1.953 |
0.821 |
0.228 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
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|
Profit/(Loss) After Tax |
1.953 |
0.821 |
0.228 |
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Expenditures : |
|
|
|
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Payment to Auditors |
0.034 |
0.033 |
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|
Interest |
0.030 |
0.008 |
|
|
|
Insurance Expenses |
0.006 |
0.006 |
9.055 |
|
|
Depreciation & Amortization |
0.292 |
0.224 |
|
|
|
Other Expenditure |
8.132 |
6.987 |
|
|
Total Expenditure |
8.494 |
7.258 |
9.055 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
14.35
|
9.59 |
2.455 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
14.35
|
9.59 |
2.455 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
12.07
|
6.80 |
1.912 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.21
|
0.11 |
0.033 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.71
|
0.61 |
0.725 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.78
|
2.77 |
2.438 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation
or modification of charges
|
Name of the
company |
INDUSTRIAL DEVELOPMENT SERVICES |
|
Presented By |
RAMKUMAR GUPTA, MANAGING DIRECTOR |
|
1) Date and
description of instrument creating the change |
Vehicle loan cum Hypothecation
on agreement dated 31.03.2001 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.0.400 millions |
|
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 |
Maruti Esteen LX
Car Registration No.
DL-3CR3689 |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Repayment of loan and interest @ 15% p.a.
on 36 equated monthly installments of Rs.0.014 millions |
|
5) Name and
Address and description of the person entitled to the charge. |
ICICI Limited, 163, Backbay Reclamation,
Mumbai-400020 (A company registered under the company’s act) |
|
6) Date and brief description of instrument modifying
the charge |
Not Applicable |
|
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. |
Not Applicable |
Subject has neither
imports nor exports
The company’s fixed
assets of important value include vehicles, office equipments, refrigerator,
air conditioner, computer, furniture and fixtures.
Market Research
During the year, IDS continued to serve its main clients like Tata Steel Tecnon, Indian Oil Corporation, etc. The new clients included Asom Toral Prakritik Gas, L & T-JTI Oilfield Project, etc. A number of proposals had been submitted, which one hopes, will result in more business in this area in the coming months.
IESC Program
There had been a substantial contribution from this program during the current year. During the year, a total of 8 projects were completed against only 2 projects completed last year, in the environment management systems and pollution control areas. This includes one project under the full cost program. Only one project out of a total of 8 sanctioned during the year will be taken up during this year.
FIB Program
During the year, two proposals under Equipment Buyer Credit Program for about US$ 525 millions and one proposal for about US$ 0.8 million under Inventory Buyer Credit Program were approved and funded by FIB. One proposal of US$ 5.00 millions was approved by FIB but it will be funded in the current year. However, due to some procedural formalities of RBI, it was still not possible to avail small loans under the equipment buyer credit program. Efforts are being made to convince RBI on this issue.
Current Prospects
Overall, the
current prospects for existing activities look fairly good. A number of
proposals are at different stages in the market research segment. These
includes :-
·
Market Study
for Flat Steel Products for Ispat Industries Limited
·
Development of
Costing Tool on Safe Disposal for Sharps Waste for Path
·
Capabilities
in offshore Drilling Business for the Norwegian Embassy.
All the above three
projects had either been completed or are in hand at present.
Under the IESC
Program, a proposal for10 additional projects was submitted and is likely to be
approved by USAID, Delhi, soon.
Under the FIB
Program, a number of proposals are at different stages of processing/approval.
Future Plans
During the year,
there was a set back in the program for the activities related to Insurance
training. As per the Registrar of Companies, the ‘objects’ clause of Memorandum
of Association of the existing company cannot be modified to include insurance
training related activities. Accordingly to them, it is necessary to float a
new company for taking up this activity. This aspect is current under the
consideration of the management.
The company had
been actively examining the possibilities of IDS utilizing the infrastructure created
for the insurance related activities for other compatible areas. A few
initiatives had already been taken in this regard.
·
One of these
was the Effective Personal Productivity (EPP) Program being offered to
corporates in collaboration with Leadership Management International (LMI),
USA, the largest professional development organization worldwide. Three
projects had already been undertaken. Discussion are on with several other
clients who had shown interest in this program.
·
IDS also plans
to take up the training program related to the behavioral safety aspects.
Behavioral Safety Program (BSP) was a systamatic and innovative approach
towards improved safety performance of employees through change in behavioral
pattern. Marketing of this program had also been started and a break through
was expected shortly.
Financial Results
During the year
under report, the income was Rs. 8.361 millions as compared to Rs. 9.164
millions last year. The Gross Profit (before interest, depreciation, income
tax, etc), during the year decreased to Rs. 0.356 million compared to Rs. 0.764
million last year and the net loss was Rs. 0.018 million compared to the profit
of Rs. 0.353 millions last year. It may be also stated that out of Rs. 2.172
millions overdue at the end of the year, Rs. 2.056 millions had since been
recovered. Inspite of fall in revenue, the overall financial results were
satisfactory due to considerable economy achieved by taking various steps to
reduce expenditure.
Representatives
(Overseas & Indian Consulting Organisation) :-
·
Boston
Consulting Group, USA
·
Chem Systems,
USA
·
Chemtex
Engineering, India
·
Delucia &
Associates, USA
·
Engineers
India Limited, India
AS PER WEBSITE
Subject was established in 1968 to provide specialized engineering and economic consulting to service India’s development needs. Over the last thirty five years, IDS has carried out over 750 assignments for close to 400 national and international clients.
The IDS team brings a synergy of talents to all projects using its professional workforce of engineers, MBA’s economists, scientists, system specialists, metallurgists, financial analyst and social scientists.
From the beginning, IDS has worked to meet the challenge of India’s development effort at two fronts. IDS professionals work closely with Indian and international business in a wide range of industrial sectors, assisting them in assessing investment viabilities and formulating marketing strategies. As part of this effort, IDS also assists companies in international cooperation, through matching joint venture partners and providing assistance in technical and financial collaboration.
IDS uses its long experience and internal resources through its large repertoire of projects to work with development agencies, both governmental and NGOs, and funding agencies to formulate effective development strategies at the community, sectoral and national levels.
With this experience, IDS brings to its projects, a comprehensive perspective to each specific sector, with respect to its current techno-economic status, the determining players, its interlinking relationship with the general industrial economy of the country and areas that need attention
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.44.22 |
|
UK Pound |
1 |
Rs.85.27 |
|
Euro |
1 |
Rs.58.24 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--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
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 |
|