MIRA
INFORM REPORT
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Report Date : |
17.04.2007 |
IDENTIFICATION DETAILS
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Name : |
DECCAN ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
No.5 R. P. road, Secunderabad;500003, Andhra Pradesh |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.04.1966 |
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Com. Reg. No.: |
001109 |
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CIN No.: [Company
Identification No.] |
U52609AP1966PTC001109 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDD00095E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of
rubber products for all sectors of industry |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 620000 |
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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 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
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Registered Office : |
No.5 R. P. road, Secunderabad;500003, Andhra Pradesh |
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Tel. No.: |
91-40-23870111 |
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Fax No.: |
91-40-23778699 |
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E-mail: |
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Website : |
DIRECTORS
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Name : |
Mr. Omprakash Jalan |
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Designation : |
Chairman Cum Managing Directors |
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Address : |
521, |
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Date of Birth/Age : |
22.09.1941 |
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Date of Appointment : |
15.04.1966 |
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Name : |
Ms. Sudha Jalan |
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Designation : |
Director |
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Address : |
521, |
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Date of Birth/Age : |
08.10.1946 |
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Date of Appointment : |
22.04.1972 |
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Name : |
Mr. Vikas Jalan |
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Designation : |
Director |
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Address : |
521, |
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Date of Birth/Age : |
02.06.1970 |
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Date of Appointment : |
28.05.1998 |
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Name : |
Mr. Kavita Jalan |
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Designation : |
Director |
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Address : |
521, |
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Date of Birth/Age : |
25.12.1968 |
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Date of Appointment : |
16.10.1998 |
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Name : |
Mr. G. Sridharan |
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Designation : |
Director |
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Address : |
386, Sri Kapaleswara Nagar, Neelanagar, Chennai;600041, Tamilnadu |
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Date of Birth/Age : |
21.07.1942 |
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Date of Appointment : |
05.07.1988 |
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Name : |
Ms Jyothi Modi |
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Designation : |
Director |
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Address : |
11-A, |
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Date of Appointment : |
05.07.1988 |
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Name : |
Mr. A. S. Rao |
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Designation : |
Director |
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Address : |
A-12/4, Road No.3, Habsiguda, |
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Date of Appointment : |
11.11.1999 |
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Name : |
Mr. Mahendra Agarwal |
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Designation : |
Director |
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Address : |
Plot No:33, 2nd |
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Date of Appointment : |
04.02.2004 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Ompraksh Jalan |
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552760 |
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Vikas Jalan |
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252710 |
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Sudha Jalan |
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161154 |
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Shubhkaran Jalan |
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50 |
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Mahesh Kumar Khemka |
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370 |
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Shree Gopal Jalan |
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50 |
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Kavita Jalan |
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50 |
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Promod Jalan |
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3650 |
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Bela Jalan |
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50 |
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Bimal Kumar Ghuwalewala |
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25 |
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Anandi Devi Jalan |
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50 |
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Premlata Ghuwalewala |
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25 |
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Shree Narayan Jalan |
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100 |
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Manju Jalan |
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50 |
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Sanjay Jalan |
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400 |
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Sumita Jalan |
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50 |
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Ajay Kumar Ghuwalewala |
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25 |
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Kohinoor Tradin Private Limited |
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50 |
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Deccan Industrial Products Private Limited |
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28281 |
Equity shares:
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Category |
Percentage |
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Bodies corporate |
2.83 |
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Directors or relative of Directors |
97.12 |
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Others |
0.05 |
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Total: |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of rubber
products for all sectors of industry |
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Products : |
Rubber Products |
PRODUCTION STATUS
As on 31.03.2005
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Rubber Products |
-- |
-- |
-- |
-- |
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GENERAL INFORMATION
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No. of Employees : |
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Bankers : |
State Bank of Commercial
Branch, |
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Facilities : |
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Banking
Relations : |
Saticfactory |
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Auditors : |
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Name : |
P V Srihari |
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Address : |
Tilak raod, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
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 |
10.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
146.965 |
148.660 |
147.048 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.033) |
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NETWORTH |
156.965 |
158.660 |
157.015 |
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LOAN FUNDS |
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1] Secured Loans |
9.338 |
7.850 |
0.820 |
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2] Unsecured Loans |
1.330 |
2.397 |
0.009 |
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TOTAL BORROWING |
10.668 |
10.247 |
0.829 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
167.633 |
168.907 |
157.844 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
116.209 |
109.765 |
111.675 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.950 |
1.001 |
1.492 |
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DEFERREX TAX ASSETS |
0.177 |
0.064 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.860 |
13.758 |
11.213 |
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Sundry Debtors |
26.065 |
23.841 |
21.741 |
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Cash & Bank Balances |
1.794 |
1.729 |
4.031 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
27.930 |
34.412 |
14.312 |
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Total
Current Assets |
66.649 |
73.740 |
51.297 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
14.616 |
12.964 |
6.620 |
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Provisions |
5.116 |
3.565 |
0.000 |
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Total
Current Liabilities |
19.732 |
16.529 |
6.620 |
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Net Current Assets |
46.917 |
57.211 |
44.677 |
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MISCELLANEOUS EXPENSES |
3.380 |
0.866 |
0.000 |
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TOTAL |
167.633 |
168.907 |
157.844 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover |
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27.493 |
29.770 |
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Other Income |
|
19.239 |
13.420 |
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Increased (decreased) in stock |
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2.363 |
(5.238) |
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Total Income |
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49.095 |
37.952 |
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Profit/(Loss) Before Tax |
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9.658 |
6.887 |
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Provision for Taxation |
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3.534 |
2.463 |
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Profit/(Loss) After Tax |
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6.124 |
4.424 |
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Earnings in Foreign Currency : |
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Export Earnings |
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3.829 |
1.729 |
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Commission Earnings |
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15.591 |
10.883 |
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Total Earnings |
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19.420 |
12.612 |
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Imports : |
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Raw Materials |
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0.000 |
0.000 |
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Stores & Spares |
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0.498 |
0.000 |
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Others |
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0.214 |
0.000 |
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Total Imports |
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0.712 |
0.000 |
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Expenditures : |
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Manufacturing Expenses |
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12.879 |
12.976 |
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Raw Material Consumed |
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18.872 |
9.984 |
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Payment to and provision for employees |
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5.874 |
6.599 |
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Interest |
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0.642 |
0.409 |
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Prior Period Expenses |
|
0.195 |
0.000 |
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Depreciation & Amortization |
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0.973 |
1.116 |
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Total Expenditure |
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39.435 |
31.084 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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12.47 |
11.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
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35.12 |
23.13 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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5.26 |
0.04 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.06 |
0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.12
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0.10 |
0.04 |
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Current Ratio (Current Asset/Current Liability) |
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3.37
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4.46 |
7074 |
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number of the company |
U52609AP1966PTC001109 |
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Name of the
company |
DECCAN
ENTERPRISES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
No.5R.P.Road,
Secunderabad;500003, Andhra Pradesh; |
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This form is for |
Modification of
Charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
State Bank of Commercial
Branch, |
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Nature of
instrument creating charge |
-- |
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Date of
instrument Creating the charge |
-- |
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Amount secured by
the charge |
Rs.11.475
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
-- |
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Description of
the property charged indicating whether it is a charged on |
Immovable
Properties, Plant and Machinery, Furniture and Fixture, Stock in trade, Book
Debts and Vehicles |
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Particulars of
the property charged |
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Charge
identification number of the charge to be modified |
Limits Enchanced
to Rs. 0.675 Millions { CC-RS.0.250 Millions; TL-0.350 Millions ; BG-RS.0.050
Millions and LC-RS 0.025 Millions } ROI CCI -1% above SBAR with Min of 11.75%
PA and TL 1.50% Above SBAR with min of 12.25% PA Monthly |
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Name of the company |
DECCAN
ENTERPRISES PRIVATE LIMITED |
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Presented By |
Mr. O.P
Kalan (Managing Director) |
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1) Date and description of instrument creating the change |
Agreement of Loan for Overall Limit) dt. 17.03.2001 Agreement of Hypothecation of Goods and Assetsdt.17.03.2007 Agreement of Pledge of goods and Assets dt.17.03.2001 Letter regarding grant of Individual Limits within the Overall Limit
dt:17.03.2001 Memorandum of Deposits for Creation of Charge for Term Loan/ Overall
Limit dt: 17.03.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit (Hypothecation
) Rs. 8.000 Millions Sub Limits (Book Debts) (Rs.1.000 Millions) NLC- DDP
(Cheques) (Rs.1.000 Millions) EPC
(Rs.1.500 Millions) FBD (Rs.1.500
Millions) Rupee term
Loan: (Rs.1.475
Millions) Letter of Credit
: (Rs.1.500
Millions) Bank
Guarantee: (Rs.0.500
Millions) Total:
Rs.11.475 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 |
First charge on
the current Assets by ay of Hypothecation of stocks and Receivables Equitable
Mortagage of Plot bearing No.B-58, 59, and 60 total admeasuring 7837 Sq. Yds
situated at Industrial Estate , Bala Nagar Revenue Mandal, Kukarpally
Minicipality. Ranga Reddy Dist., And the buildings Constructed thereon. Hypothecation of
Plant and Machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1) Margin: Raw
Materials 25% Stock in
Process 30% Finished
Goods 30% Book Debts 50% Drawing under book
debts does not to exceed Rs. 1.500 Millions cover period 60days c.c : ii) Interest:
3.50% over SBAR with a minimum of 15.50%p.a with quarterly rests subject to
changes in SBAR from time to time Term Loan: iii) Interest
2.25% over SBMTLR with a minimum of 14.25% p.a with quarterly rests subject
to changes in SBMTLR from time to time |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Commercial
Branch, |
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6) Date and brief description of instrument modifying the charge |
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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. |
Security:
Hypothecation of machinery and equipments proposed to be acquired out of bank
finance. Margins: 25% on all assets Rate of
Interest: 2.75% over SBMTLR with a minimum
of 14.25% p.a with monthly rests subjects to changes in SBMTLR from time to
time. Repayment: Repayable in 12
quarterly installment @Rs6.800 Millions each commencing from September 2002,
with a balance payment of Rs.0.077 Millions in last installments |
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Fixed Assets:
Land
Plant and Machinery
Electrical
Office Equipments
Furniture and Fixture
Motors car and Motor Cycle
Moulds and Dyes
Research and Development
Laboratory Testing equipments
Computers
Capital work in progress
As per web Site:
Corporate Profile
Subject is a
Company well-considered, commercial and technical solutions have lead to
establish a market lead in the fields of industrial products, railway products,
floor tiles and consumer products. Long-standing expertise and know how,
combined with close and trustful partnerships, recognized and certified
competence is the base for all their developments
Their employees a highly skilled, experienced work force that has established a
proven record, offering high quality and advanced technology products. With the
accreditation of the ISO 9002 systems within the company are refined to improve
it's performance.
The company holds a range of internationally recognized approvals including IS,
RDSO, BS, ASTM, ISO, UNI, and DIN etc. assuring that the customers' standards
are met.
On the international front Deccan was among the first Indian Companies to
'Export' technology and set up a Joint Venture in Saudi Arabia in 1978. The
company has many patented developments to it's credit.
International tic-ups
Long-standing expertise and know how, combined with close and trustful partnerships, recognized and certified competence is the base for all their developments. DEPL has joint ventures with the following:
Joint Ventures:
Amiantit Rubber Industries Ltd.
Amiantit Rubber Industries Ltd. established in 1978
specializes in manufacturing of Elastomeric joints seals for all kinds of pipe
lines for pressure and gravity applications, for electrical and communication
ducts, flanges, valves etc. Rubber seals are manufactured meeting to
international specifications. ARIL special seals meet the requirement of
potable applications as per WRC (UK) and KTW (
Technical Colabration:
Silvertown UK Ltd.
Silvertown's history goes back to the early 1900s and it now designs, develops
and manufactures technically advanced polymer based products. Silvertown's main
business is the manufacture of anti-vibration and shock attenuation components,
industrial rubber products and precision mouldings. Silvertown
Awards
Contact Them
A Customer base has been built for good
communications, flexibility, capacity to expand and a willingness to help the
customer. DEPL team is ready to meet the requirements and to take the first
step towards 'partnership' link. To receive any information please call, mail,
fax, or visit their office
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.41.29 |
|
|
1 |
Rs.82.30 |
|
Euro |
1 |
Rs.56.20 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
|
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DEMERIT POINTS |
|
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--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 |
|
51 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
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 |
|