MIRA
INFORM REPORT
|
Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
DANTAL HYDRAULICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B – 172, Saraswati Vihar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
01.02.1990 |
|
|
|
|
Com. Reg. No.: |
55-39084 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1990PTC039084 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06621G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACD1006C |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturing of Hydraulic
Cylinders and Hydraulic Systems for wide range of applications. |
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 410000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established company. Directors are reported as experienced
and respectable businessmen. Trade relations are 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 : |
B – 172, Saraswati Vihar, |
|
Tel. No.: |
91-11-26213806 |
|
Fax No.: |
91-11-26476089 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Work : |
24, Udyog Vihar, Phase-IV, Gurgaon, Haryana – 122001, |
|
Tel. No.: |
91-124-4586804 |
|
Fax No.: |
91-124-2340875 |
|
|
|
|
Factory : |
Plot No 50, Sector 3, IMT
Manesher Gurgaon, |
|
Tel. No.: |
91-124-4581800 / 2347110 |
|
Fax No.: |
91-124-4369414 / 2347110 |
|
E-Mail : |
|
|
|
|
|
Factory : |
90/19, Okhla Industrial Area-1, |
|
|
|
|
Sales and Services Network : |
Located at :
|
DIRECTORS
|
Name : |
Mr. Sandeep Talwar |
|
Designation : |
Director |
|
Address : |
H – 44 C, Saket New |
|
Date of Birth/Age : |
02.02.1967 |
|
Date of Appointment : |
01.02.1990 |
|
|
|
|
Name : |
Mr. Poonam Talwar |
|
Designation : |
Director |
|
Address : |
2 South Park Apartments, kalkaji, |
|
Date of Birth/Age : |
15.07.1960 |
|
Date of Appointment : |
01.02.1990 |
|
|
|
|
Name : |
Mr. Sanjay Talwar |
|
Designation : |
Director |
|
Address : |
2 |
|
Date of Birth/Age : |
25.04.1959 |
|
Date of Appointment : |
10.07.1990 |
|
Other
Directorship : |
·
Sparr Equipment Private Limited, ·
Sparr Drill Private Limited, ·
Super Drilling Private Limited, |
|
|
|
|
Name : |
Mr. Narinder Singh Bopara |
|
Designation : |
Director |
|
Address : |
114 Vthnpan Lok, Mayur Vihar – I, |
|
Date of Birth/Age : |
14.11.1963 |
|
Date of Appointment : |
27.07.1993 |
|
|
|
|
Name : |
Mr. Naresh Malhotra |
|
Designation : |
Director |
|
Address : |
146 Nilgiri Apartments, Alarnanda, |
|
Date of Birth/Age : |
22.06.1957 |
|
Date of Appointment : |
16.08.1994 |
|
|
|
|
Name : |
Mr. Viswanath Kausik |
|
Designation : |
Director |
|
Address : |
Gori Apartments, Block – A, J P Nagar, Phase – II, |
|
Date of Birth/Age : |
31.08.1948 |
|
Date of Appointment : |
09.05.2002 |
KEY EXECUTIVES
|
Name : |
Ms. Neetu Goel |
|
Designation : |
Secretary |
|
Address : |
MS – 3, Flat No. 506, Sector – 56, Kendriya Vihar, Gurgaon – 122001, |
|
Date of Birth/Age : |
12.08.1978 |
|
Date of Appointment : |
01.09.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Super Drilling Private Limited |
|
49450 |
|
Sandeep Talwar |
|
17025 |
|
Poonam Talwar |
|
28175 |
|
Sanjay Talwar |
|
401350 |
|
Naresh Malhotra |
|
48300 |
|
Narinder Singh Bopara |
|
158700 |
|
Vishwanath Kausik |
|
2300 |
|
|
|
|
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Hydraulic Cylinders
and Hydraulic Systems for wide range of applications. |
|
|
|
|
Brand Names : |
|
|
|
|
|
Agencies Held : |
·
Danfoss A/S, ·
Danfoss Fluid Power Inc., ·
ZTS, ·
|
|
|
|
|
Exports : |
|
|
Countries : |
Jordon |
|
|
|
|
Imports : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit of 30 days |
|
|
|
|
Purchasing : |
Cash, Others, L/C and Credit
of 30 days |
GENERAL INFORMATION
|
Suppliers : |
|
|
|
|
|
Customers : |
|
|
|
|
|
No. of Employees : |
100 |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
P. C. Singla and Associates Chartered Accountants |
|
Address : |
610, ITL Twin, Tower, |
|
|
|
|
Collaborators : |
Danfoss A/S, |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,518,300 |
Equity Shares |
Rs. 10/- each |
Rs. 25.183 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 |
|
25.183 |
7.061 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
77.209 |
91.465 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
102.392 |
98.526 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
155.624 |
65.842 |
|
|
2] Unsecured Loans |
|
1.791 |
5.133 |
|
|
TOTAL BORROWING |
|
157.415 |
70.975 |
|
|
DEFERRED TAX LIABILITIES |
|
1.901 |
2.403 |
|
|
|
|
|
|
|
|
TOTAL |
|
261.708 |
171.904 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
112.788 |
34.113 |
|
|
Capital work-in-progress |
|
5.822 |
7.238 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.024 |
0.024 |
|
|
DEFERREX TAX ASSETS |
|
1.176 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
96.977 |
59.821 |
|
|
Sundry Debtors |
|
129.268 |
85.051 |
|
|
Cash & Bank Balances |
|
2.036 |
22.084 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
38.059 |
40.592 |
|
Total
Current Assets |
|
266.340 |
207.548 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
113.941 |
74.043 |
|
|
Provisions |
|
10.501 |
2.976 |
|
Total
Current Liabilities |
|
124.442 |
77.019 |
|
|
Net Current Assets |
|
141.898 |
130.529 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
261.708 |
171.904 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.75 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.14 |
2.69 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
DANTAL
HYDRAULICS PRIVATE LIMITED |
|
Presented By |
Mr. Sanjay
Talwar, Managing Director |
|
1) Date and description of instrument creating the change |
On 24.10.2005.
Deed of Hypothecation executed by the company in favour of Small Industries
Development Bank of |
|
2) Amount secured by the charge/amount owing on the securities of charge |
The Term Loan of
Rs. 70.000 Millions agreed to be lent and advanced by SIDBI to the company
together with Interest, further Interest, liquidated damages, costs, charges,
expenses and all other moneys payable by the company to SIDBI in terms of
letter of Interest no SIDBI/GGBO/604/DHPL dated 05.010.2005 and loan
agreement dated 24.10.2005 between the company of the one part and SIDBI of
the other part. |
|
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 |
All the plant,
machinery, equipment, and other assets acquired / to be acquired by the
Borrower under the scheme together with all spares, tools, accessories whether
installed or not and whether now lying or stored in or about or shall
hereafter from time to time during the continuance of the security of these
presents by brought into or upon or be stored or be in or about the
borrower’s premises, factory, showrooms
or wherever else the same may be or be held by any party to the order or
disposition of the borrower or in the course of transit of on high seas or on
order or delivery, howsoever and wheresoever in the possession of the
borrower and either by way of substitution of addition. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The charge
operates as first charge to secure the due repayment and discharge by the
company to SIDBI of its loan of Rs. 70.000 Millions together with interest,
further interest, liquidated damages, expenses and all other monies payable
by the company under the letters of sanction / letters of intent /
modifications / terms of sanction as amended / modified / renewed from time
to time. The company has undertaken to keep the
hypothecated goods in marketable and good condition at its own costs and to
insure the same in the joint names of the company and SIDBI. All the goods
hypothecated and all realizations and insurance proceeds thereof and all documents
in respect of the said security are to be kept distinguishable and held as
the exclusive property of SIDBI. The security
created under the said Deed of Hypothecation is to be continuing security. |
|
5) Name and Address and description of the person entitled to the charge. |
Small Industries
Development Bank of |
|
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 |
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U74899DL1990PTC039084 |
|
Name of the
company |
DANTAL HYDRAULICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
New Delhi8, |
|
Particular of charge
holder |
Canbank Factors
Limited |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
09.10.2006 |
|
Amount secured by
the charge |
Rs. 5.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent operation
of the charge 100 % Others The said charge
is to secure a factoring loan of Rs. 5.000 Millions granted by Canbank
Factors Limited to the company. The service
charges/ reassignment charges / discounting rates shall be as per schedule of
Factoring Agreement. |
|
Short particulars
of the property charged |
|
Profile
Subject has manufacturing facilities at Gurgaon near
Subject is ISO 9001 : 2000 certified company.
Subject offers excellent after sales support through its countrywide sales and service network.
Subject is well-established supplier of Hydraulic Cylinders to leading OEMs of Indian industries.
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 exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.26 |
|
|
1 |
Rs.81.15 |
|
Euro |
1 |
Rs.56.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
48 |
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. |
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 |
|