MIRA
INFORM REPORT
|
Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
D P WIRES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
72, Gandhi Nagar Industrial Estate, Drainage Channel Road, Worli,
Mumbai-400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
26.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-113737 |
|
|
|
|
CIN No.: [Company Identification No.] |
U27100MH1998PTC113737 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BPLD02506A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCO2393P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To carry on in India and elsewhere in the world, the business of manufacturers,
producers, processors, converters, finishers, exporters, importers, indenting
agent, wholesalers, commission agents, distributors, stockiest, retailers and
dealers in all kinds of casting the ingots of iron, steel, copper, bronze,
aluminum and another ferrous and non ferrous ingots and/or the rolling of
bars and rods of iron, steel, copper, brass, bronze, aluminium and other
ferrous and non ferrous metals and/or the manufacturers of cables of copper,
iron, steel, bronze, aluminium and other ferrous and non ferrous metals,
trolley wires made of bronze, iron, steel, copper, brass aluminium and other
ferrous and non ferrous metals, galvan9ised iron wires, wire fencing, wire
netting, wire nails, wire, wire clips and wire staples of all types of ferrous
and non ferrous metals, ad/or fabricators, founders, smelters, engineers,
converter, repairers, producers, importers, exporters, dealers, agents and
suppliers or special steel, mild steel, bright bars, sections, shafting and
bright steel or its products or by products of every description, nature or
form, in all its branches. |
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 |
|
Maximum Credit Limit : |
USD 375000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
72, Gandhi Nagar Industrial Estate, Drainage Channel Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-24926317, 6249, 4304 |
|
Fax No.: |
91-7412-261174/
2495 0453 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
16-18A, Industrial Estate, Ratlam, Madhya Pradesh, India |
|
|
|
|
Commercial
Office & Factory : |
Ratlam, M.P. 16-18,
Industrial Estate, Ratlam, Madhya Pradesh - 457001, India. |
|
Tel. No.: |
91-7412 261141,
45 |
|
Fax No.: |
91-7412 261174, 53, 55 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Indore 304, Jhabua
Tower, 170, R. N. Tagore Marg, Indore - 452001, India. Tel. : 91-731
2522967, 5070768 Fax. : 91-731
2519573 New Delhi 295, DDA Flats,
Jaidev Park, East Punjabi Baug, New Delhi - 110026 Tel.: 91-11 25441237 Mob :
91-9811114696 Hyderabad 2-A, Srinidhi
Apartment, R&D Enclave, Sikh Village, Secunderabad - 500008. Tel.: 91 40
40123210, 27843201 Mob :
91-9348988885 E-Mail:kurupmkn@yahoo.com Kolkata 6A, Indra Roy
Road, Kolkata - 700025 Tel : 91-33
24747966 Mob :
91-9831117252 Fax : 91-33
24747966 E-Mail:aktewari@vsnl.net Visakhapatnam D. No. 8-11-5,
NH- 5, Neel Kamal Road, Beside Lata Hospital, Old Gajuwaka, Visakhapatnam -
530026. Tel. : 91-891
2519159 Mob :
91-9440306282 Fax. : 91-891
2743687 Chennai Plot no.- 57
(2nd street), Vyankatesh Nagar, Virugambakkam, Chennai - 92. Tel.:
91-44-31164129 |
DIRECTORS
|
Name : |
Mr. Sanjay Kataria |
|
Designation : |
Director |
|
Address : |
44-B, Ghass Bazar, Ratlam-457001, Madhya Pradesh, India |
|
Date of Birth/Age : |
06.03.1973 |
|
Date of Appointment : |
26.02.1998 |
|
|
|
|
Name : |
Mr. Ravi Kataria |
|
Designation : |
Director |
|
Address : |
44A, Chass Bazar, Ratlam-457001, Madhya Pradesh, India |
|
Date of Birth/Age : |
15.05.1965 |
|
Date of Appointment : |
26.02.1998 |
|
|
|
|
Name : |
Mr. Praveen Kataria |
|
Designation : |
Director |
|
Address : |
63, Choumukhi Pool, Ratlam-457001, Madhya Pradesh, India |
|
Date of Birth/Age : |
05.09.1973 |
|
Date of Appointment : |
16.11.2000 |
|
Other Directorships : |
Kataria Industries Private Limited |
|
|
|
|
Name : |
Mr. Hemant Kataria |
|
Designation : |
Director |
|
Address : |
63, Choumukhi Pool, Ratlam-457001, Madhya Pradesh, India |
|
Date of Birth/Age : |
01.12.1977 |
|
Date of Appointment : |
16.11.2000 |
|
|
|
|
Name : |
Mr. Pankaj Kataria |
|
Designation : |
Director |
|
Address : |
10, Ghass Bazar, Ratlam-457001, Madhya Pradesh, India |
|
Date of Birth/Age : |
09.03.1977 |
|
Date of Appointment : |
16.11.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Bhoomi Agro O.P. Limited |
146400 |
|
Sonic Biochem Ext. Limited |
730000 |
|
San Industries Private Limited |
2353 |
|
San Industries Private Limited |
65883 |
|
San Industries Private Limited |
51746 |
|
San Industries Private Limited |
51765 |
|
San Industries Private Limited |
16 |
|
San Industries Private Limited |
25 |
|
Lunkad Securities Limited |
63250 |
|
Lunkad Media and Entertainment Limited |
37000 |
|
Rajvir Marketing and Investment Limited |
43000 |
|
West End Management Technologies Limited |
317500 |
|
Parksons Securities Private Limited |
20000 |
BUSINESS DETAILS
|
Line of Business : |
To carry on in India and elsewhere in the world, the business of manufacturers,
producers, processors, converters, finishers, exporters, importers, indenting
agent, wholesalers, commission agents, distributors, stockiest, retailers and
dealers in all kinds of casting the ingots of iron, steel, copper, bronze,
aluminum and another ferrous and non ferrous ingots and/or the rolling of
bars and rods of iron, steel, copper, brass, bronze, aluminium and other
ferrous and non ferrous metals and/or the manufacturers of cables of copper,
iron, steel, bronze, aluminium and other ferrous and non ferrous metals,
trolley wires made of bronze, iron, steel, copper, brass aluminium and other
ferrous and non ferrous metals, galvan9ised iron wires, wire fencing, wire
netting, wire nails, wire, wire clips and wire staples of all types of ferrous
and non ferrous metals, ad/or fabricators, founders, smelters, engineers,
converter, repairers, producers, importers, exporters, dealers, agents and
suppliers or special steel, mild steel, bright bars, sections, shafting and
bright steel or its products or by products of every description, nature or
form, in all its branches. |
|
|
|
|
Products : |
MS/PC Wire, Film/Sheet, Cylinder |
GENERAL
INFORMATION
|
No. of Employees : |
100 |
|
|
|
|
Bankers : |
UCO Bank, Ratlam Branch, Ratlam, Madhya Pradesh |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Subhash Deshpande & Company Chartered Accountants |
|
Address : |
403, City Plaza, 564, M G Road, Indore-452001, Madhya Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2387000 |
Equity Shares |
Rs.10/- each |
Rs.23.870
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
21.920 |
21.920 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
74.349 |
48.411 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
96.269 |
70.331 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
108.332 |
54.612 |
|
|
2] Unsecured Loans |
|
190.755 |
184.417 |
|
|
TOTAL BORROWING |
|
299.087 |
239.029 |
|
|
DEFERRED TAX LIABILITIES |
|
2.830 |
2.112 |
|
|
|
|
|
|
|
|
TOTAL |
|
398.186 |
311.472 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
88.572 |
68.186 |
|
|
Capital work-in-progress |
|
0.875 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
131.253 |
148.469 |
|
|
Sundry Debtors |
|
135.263 |
68.783 |
|
|
Cash & Bank Balances |
|
4.860 |
4.567 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
96.622 |
70.916 |
|
Total
Current Assets |
|
367.998 |
292.735 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
59.293 |
49.548 |
|
|
Provisions |
|
0.047 |
0.000 |
|
Total
Current Liabilities |
|
59.340 |
49.548 |
|
|
Net Current Assets |
|
308.658 |
243.187 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.081 |
0.099 |
|
|
|
|
|
|
|
|
TOTAL |
|
398.186 |
311.472 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.72 |
4.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
6.20 |
5.91 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
|
Name of the company |
DP WIRES
PRIVATE LIMITED |
|
Presented By |
Mr. Sanjay Kataria, Director
of Company and UCO Bank, Ratlam Branch |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation fo goods to secure demand loan. Deed of hypothecation fob nook debts to secure demand cash credit limits Memorandum, of entry of deposit of title deeds to create equitable mortgage. Counter Guarantee. All the above said documents were executed on 15.02.2005. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.80.000 millions divided into fund based cash credit limit against the stock and book debts Rs.40 millions and Non fund based limits of Rs.40.000 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 |
Hypothecation of entire stock of raw materials, goods in process and finished goods of steel, steel wires of all varieties , polythene film, LDPE and HDPE graduals, etc. and entire current assets of the company by way of first charge to the bank. All present and future book debts and all other movable assets of the company including documents of title d\to the goods, outstanding moneys, receivables including receivable by way of cash assistance and/or cash incentives or other scheme claims including claims by way of fund of customs/excise, duties under the duty draw back credit scheme e, bills, invoices, documents and rights by way of first charge to the Bank Mortgage of drawing machines, stand strip machine, SR furnace machinery and all future plant and machinery belonging to or in the possession or under the control of the company wherever laying, stored and kept in India or elsewhere shall stand hypothecated to the Bank by way of first charge. First charge over the entire fixed assets of the company which include equitable mortgage of leasehold land, factory shade, buildings or the unit situated at Industrial Area, Ratlam given to the UCO Bank, Ratlam Branch, through the mortgage by simple deposit of title deeds for the credit facilities of Rs.80.000 millions as under : Lease deed registration No.AddII/1329 dated 16.12.1999. Supplemental lease deed registration No.AddII/1656 dated 23.10.2000. Lease deed registration No.2348 dated 15.01.2001. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest : 6% above RBI rate, minimum 12% p.a. Other conditions as per agreements |
|
5) Name and Address and description of the person entitled to the charge. |
UCO Bank Ratlam Branch Ratlam, Madhya Pradesh |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
Website Details :
They are a part of the KATARIA Group of industries, manufacturing a wide
range of Steel Wires and Strands catering to the needs of various industry
segments such as infrastructure, power, cement and general engineering.
They are one of the leading manufacturers of Steel Wires & Strands. Their
wire & strand manufacturing facility is located at Ratlam in Madhya
Pradesh.
KATARIA Group has markedly presence in Construction, Property Development and
Wind Power Generation & also leaders in manufacturing of various types of
LDPE & HDPE sheets & HDPE Pipes.
HISTORY
KATARIA Wires was established in 1992 as a Private Limited Company for
manufacturing wires for railway sleepers, electric poles & High Carbon
Galvanized wires for ACSR conductors.
Since the inception, their company has grown from strength to strength
& built up a reputation as one of the leading manufacturer of wire, P.C.
Strand & other specialty steel products.
Their Associate Companies are :
D. P. Industries
Ratlam Wires Private Limited
Kataria Industries Private Limited
In 2001 their Company adopted a quality policy & obtained ISO
9001:2000.
In 2002 their Company started manufacturing of L.R.P.C. Strand.
FAST FACTS
Kataria Group has the ideal combination of the latest equipments, high
quality raw materials & a state-of-the-art technology to deliver P.C.Wire
& strand of international standard. Apart from the guarantee of proper
mechanical & physical properties confirming to the relevant Indian &
International specifications, they offer suitable delivery schedule backed by
expert technical services.
MARKETS: Their products have a wide range of application ranging from, bridges
to cement plants; electric poles to over-head transmission lines & a
variety of springs.
MISSION STATEMENT
To meet the customer’s requirements consistently by providing best of
quality with best reasonable rates to enable them to delight their customers.
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.43.66 |
|
UK Pound |
1 |
Rs.85.91 |
|
Euro |
1 |
Rs.58.44 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
50 |
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 |
|