MIRA
INFORM REPORT
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Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
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Name : |
V. S. DEMPO AND
COMPANY PRIVATE LIMITED |
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Registered Office : |
Dempo
House, Campal, Panaji, Goa-403001 |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.04.1965 |
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Com. Reg. No.: |
24-30 |
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CIN No.: [Company
Identification No.] |
U13209GA1965PTC000030 |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
Mining
and Exporting of |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 12000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a part of well-known Dempo Group of Available
information indicates high financial responsibility of the company. Trade
relations are reported as fair. Financial position is good. Payments are usually
correct and as per commitments. The
company can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office : |
Dempo
House, Campal, Panaji, Goa-403001, |
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Tel. No.: |
91-832-2441300
- 328 / 2421724 / 2226281 / 86 |
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Fax No.: |
91-832-2225098 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Factory : |
Located
at |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr.
Shrinivas V. Dempo |
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Designation : |
Chairman
cum Managing Director |
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Address : |
Dempo
Villa, Altinho, Panaji – 403001, |
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Date of Birth/Age : |
02.02.1969 |
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Qualification : |
Post
Graduate in Commerce |
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Date of Appointment : |
15.09.1998 |
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Name : |
Mr.
Soiru V. Dempo |
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Designation : |
Director |
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Address : |
Dempo
House, Santacruz, Ilhas – 403005, |
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Date of Birth/Age : |
04.11.1943 |
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Date of Appointment : |
03.02.1987 |
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Name : |
Mrs.
Neela V. Dempo |
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Designation : |
Director |
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Address : |
Dempo
Villa, Altinho, Panaji, |
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Date of Birth/Age : |
20.09.1942 |
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Date of Appointment : |
16.09.1998 |
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Name : |
Mr.
Jaiprakash V. Dempo |
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Designation : |
Director |
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Address : |
130
Nagalli Hill Colony, Dona Paula – 403004, |
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Date of Birth/Age : |
27.07.1948 |
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Date of Appointment : |
16.09.1998 |
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Date of Ceasing : |
05.05.2005 |
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Name : |
Mr.
Bhuja Asht Prasad |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
31.01.1943 |
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Date of Appointment : |
28.12.1999 |
KEY EXECUTIVES
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Name : |
Mr. Balasurbramanian G. |
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Designation : |
Company Secretary |
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Address : |
Flat No. 105, 1st Floor, |
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Date of Birth/Age : |
29.10.1954 |
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Date of Appointment : |
30.03.1995 |
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Name : |
Mr.
Vasantrao S. Dempo |
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Designation : |
Chairman
Emeritus |
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Name : |
Mr.
M. V. Rebelo |
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Designation : |
Vice
President - Operations |
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Name : |
Mr.
S. Srinivasan |
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Designation : |
Vice
President - Finance & Taxation |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Savitribai V, Dempo |
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20 |
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Soiru V. Dempo |
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25 |
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Esmeralda Investments Private Limited |
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1900 |
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Shrinivas
V. Dempo |
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760 |
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Rupmati
Investment Private Limited |
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1445 |
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Leelavati
Investment Private Limited |
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1675 |
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Ratnaprabha Investment
Private Limited |
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1675 |
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Jaiprabha
Investment Private Limited |
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2450 |
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Suhas
Investment Private Limited |
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2450 |
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Neela
V. Dempo |
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100 |
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Total |
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12500 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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95.00 |
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Directors or relatives of directors |
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5.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Mining
and Exporting of |
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Products : |
Surface Coating v
Decorative v
Industrial v
Marine v
High performance/Heavy duty coatings and pipeline coatings Household and Office Appliance v
Ceiling and table fans v
Steel furniture v
Sewing machines v
Refrigerators v
Gas Cylinders v
Typewriters v
Mirrors v
Light fixtures Vehicles v
Bicycles and cycle components v
Tractors v
Railway coaches v
Heavy transport vehicles v
Earth Moving Equipments v
Luxury bus coaches Heavy Industries v
v
Machine tools Electrical Equipments v
Switch boards v
Panel boards switch gear components v
Pumps and Motors v
Electronic Instruments Project like Power Stations v
Nuclear Power Station v
Drinking water pipelines projects Industries v
Sugar Mills v
Fertilizer v
Heavy
Electrical and many others |
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Terms : |
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Selling : |
L/C,
Cash or Credit (30 days |
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Purchasing : |
L/C,
Cash or Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers
and End Users |
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No. of Employees : |
Around
3000 |
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Bankers : |
Ø
Bank of Ø
Bank of Ø
Canara Bank Ø
HDFC Bank Limited Ø
Oriental Bank of Commerce |
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Banking Relations
: |
Good |
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Auditors : |
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Name : |
Fraser
and Ross Chartered
Accountants |
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Address : |
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Tel. No.: |
91-44-52131124 |
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Subsidiaries : |
v
Dempo Industries Private Limited [CIN No. : U15541GA1987PTC000787] Dempo House, Panaji - 403001, -- Publishes Navhind Times v
Aparant Iron and Steel Private Limited, Campal, Panaji – 403001,
v
Hindustan Foods Limited, Campal, Panaji – 403001, v
Dempo Mining Corporation Private Limited [CIN No.: U15541GA1987PTC000787] Dempo House, Panaji - 403001, -- Mining This company is a wholly owned
subsidiary of V. S. Dempo and Company Limited and contributes over 75% of the
Group’s production of ore, thus augmenting to subject and export to a large
extent. The ore was transported to the
riversides of Mandovi and Zuari and loaded on to vessels between 7000 and
10000 DWT. Dempos have 19 mining
concessions all over v
[CIN No. : U74210GA1963PTC000009] Dempo House, Panaji, Goa, -- Construction and repairs of Barges Started in 1957, Shipyard with 2 dry docks of area
admeasuring 25,000 sq. meters. Berthing jetty with 3000DWT and 100 m length Full-fledged Ship Design Capability v
Concept to Commissioning v
Repairs and Conversion v
Modernisation Facilities
v
Custom bonded Warehouse v
Fabrication Shops v
Goa Carbon Limited Dempo House, Panaji, Goa, Goa Carbon Limited was set up
in 1976 as a pubic limited company. The company manufactures Calcined
Petroleum Coke, a vital input in the production of basic aluminium metal and
Titanium Dioxide with allied uses as a recarburiser and in the manufacture of
electrodes for various industrial uses. In 1993, Goa Carbon became the
first Indian manufacturer-exporter of petcoke and presently ships to Some of its major Indian
customers are INDAL, NALCO, TELCO, Schutz Carbon, Ashok Leyland, Bajaj,
Eveready Industries, Greaves Limited, Matsushita, Kirloskar Cummins. Some of its major
International Customers are as under: -
Aluminium Pechiney-France -
ESMA- South -
Bisley and Company-Australia -
David Hart Limited- -
Natsteel – -
Saudi Iron and Steel-KSA -
Amsteel-Malaysia -
-
Valley v
Dempo Brothers Private Limited [CIN No :
U01122GA1950PTC003429] v
West Coast Hotels Private Limited [CIN No :
U55101GA1972PTC000148] v
Dempo Marketing Company Private Limited [CIN No :
U51109GA1986PTC000671] v
Marmagoa Shipping and Stevedoring Company Private
Limited [CIN No :
U61100GA1963PTC000003] v
Dempo Travels Private Limited [CIN No :
U63040GA1983PTC000552] v
Rio Investments Private Limited [CIN No :
U65993GA1992PTC001208] v
Sindhudurg Mining Corporation Private Limited [CIN No : U13100GA1998PTC002550] v
Indo-Pacific Poly-fibres Private Limited v
Aparant Iron and Steel Private Limited v
Jaico Investments Private Limited v
Troy Investments Private Limited v
Hindustan Foods Limited v
Dempo Shipyard Private Limited v
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Joint Venture : |
v
Ocean Investments |
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v
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Associates : |
v
Goa Carbon Limited v
Pardeep Carbons Limited v
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Enterprises controlled by Key Managerial Personnel |
v
Devashri Real Estate Developers v
Motown Investments Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity
shares |
Rs. 1000/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12,500 |
Equity
shares |
Rs. 1000/- each |
Rs.12.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
12.500 |
12.500 |
12.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3094.925 |
2637.342 |
2389.897 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3107.425 |
2649.842 |
2402.397 |
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LOAN FUNDS |
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1] Secured Loans |
1720.728 |
162.652 |
185.388 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1720.728 |
162.652 |
185.388 |
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DEFERRED TAX LIABILITIES |
3.904 |
0.000 |
0.000 |
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TOTAL |
4832.057 |
2812.494 |
2587.785 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
923.201 |
246.792 |
262.141 |
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Capital work-in-progress |
18.006 |
171.648 |
10.512 |
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INVESTMENT |
1658.558 |
1691.650 |
1393.288 |
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DEFERREX TAX ASSETS |
0.000 |
16.018 |
11.753 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
741.595
|
190.397 |
204.189 |
|
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Sundry Debtors |
785.003
|
388.538 |
241.505 |
|
|
Cash & Bank Balances |
384.294
|
285.188 |
195.635 |
|
|
Other Current Assets |
2.255
|
0.745 |
2.265 |
|
|
Loans & Advances |
2230.266
|
988.863 |
736.942 |
|
Total
Current Assets |
4143.413
|
1853.731 |
1380.536 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Current Liabilities |
442.574
|
403.427 |
296.206 |
|
|
Provisions |
1476.130
|
779.083 |
196.987 |
|
Total
Current Liabilities |
1918.704
|
1182.510 |
493.193 |
|
|
Net Current Assets |
2224.709
|
671.221 |
887.343 |
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MISCELLANEOUS EXPENSES |
7.583 |
15.165 |
22.748 |
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TOTAL |
4832.057 |
2812.494 |
2587.785 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
5699.869 |
-- |
2217.200 |
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Other Income |
|
|
|
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Total Income |
5699.869 |
-- |
2217.200 |
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Profit/(Loss) Before Tax |
1342.286 |
882.278 |
135.400 |
|
|
Provision for Taxation |
599.641 |
492.301 |
97.000 |
|
|
Profit/(Loss) After Tax |
742.645 |
389.977 |
38.400 |
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Earnings in Foreign Currency : |
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Total Earnings |
NA |
NA |
2070.549 |
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Imports : |
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Total Imports |
NA |
NA |
19.935 |
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Expenditures : |
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|
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Depreciation & Amortization |
66.558 |
59.373 |
-- |
|
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Other Expenditure |
3841.025 |
-- |
2081.800 |
|
Total Expenditure |
3907.583 |
-- |
2081.800 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
13.03
|
NA |
1.73
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
23.55
|
NA |
6.11
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.49
|
42.00 |
8.24
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.33 |
0.06
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.17
|
0.51 |
0.28
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.16
|
1.57 |
2.80
|
LOCAL AGENCY FURTHER INFORMATION
Bankers
Charges Report as per Registry
|
Name of the
company |
V. S. DEMPO AND COMPANY PRIVATE LIMITED |
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Presented By |
V. S. DEMPO AND COMPANY PRIVATE LIMITED |
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1) Date and
description of instrument creating the change |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Term Loan of US $
12,800,000 |
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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 priority security
interest / charge in five out of total ten shares in the Transhipper Vessel
and all moveable assets / goods / property / plant and machinery together
with all accessories, stores and spares relating thereto, not belonging to or
hereafter to belong to the company. “Transhipper Vessel” means a cape-size modern Transhipper
Vessel capable of holding one hundred twenty five thousand metric tons of
iron ore on board and with a capacity to reload mother vessels at 75500
metric tones per day to the purchased from Seawilh Limited, Book-Debts,
Receivables and other tangible and moveable assets of the Transhipper Vessel |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The charge
created on the assets as mentioned in item No. 3 above shall operate as
Security for the due repayment of the Term Loan of US $ 12,800,000 together
with Interest and other amounts due thereon. Rate of Interest
is 175 basis points over six months Principal loan
amount is to be repaid in thirty two equal quarterly installments of US $
400,000 each commencing after initial moratorium period of 12 months, i.e.
form June, 2006 onwards. All delayed
repayments of principal / interest will attract penal interest of 2 % on the
amount due till repayment. |
|
5) Name and
Address and description of the person entitled to the charge. |
Bank of 277, |
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6) Date and brief description of instrument
modifying the charge |
Deed of Mortgage
and deed of covenant both dated 21.12.2005 |
|
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. |
Upon execution of
the statutory mortgage [Form No. 10] 5 shares held by each of the parties in
the Transhipper Vessel ”Goan Pride” registered under No. 3187 have been
mortgage as security for due repayment of the term loan of US $ 12,800,000.
all other terms and conditions as set out in the security documents executed
earlier remain the same. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90076870 |
|
Corporate
identity number of the company |
U13209GA1965PTC000030 |
|
Name of the
company |
V. S. DEMPO AND
COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Dempo
House, Campal, Panaji, Goa-403001 |
|
Type of charge |
Book Debts |
|
Particular of
charge holder |
Mitsui and
Company Limited 2-1, Ohtmachi,
1-Chome, Chiyoda – KU, |
|
Nature of
description of the instrument creating or modifying the charge |
Letter dated
09.07.2007 from Mitsui and Company Limited in respect of Modification |
|
Date of
instrument Creating the charge |
09.07.2007 |
|
Amount secured by
the charge |
Rs. 248.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The advance /
loan will accrue interest daily at Interest Rate i.e. three months LIBOR,
prevailing at two business days prior to the advance being drawn by the
Company added with 0.60 % Terms of
repayment Repayment will be
on the later of :
Or such other date as agreed in writing
between the parties. Extent operation
of the charge For the purpose
of securing the Financier [Mitsui and Company Limited] for the due repayment
of the Loan / Advance, the Company shall also procure a confirmation letter
from its banker which shall provide for :
|
|
Short particulars
of the property charged |
For the purpose
of securing the Financier [Mitsui and Company Limited] for the due repayment
of the Loan / Advance, the Company hereby charges in favour of the said
Mitsui and Company Limited, the sales proceeds receivable by the company
under the “Jinan Steel Arrangement” i.e. the ongoing Arrangement between the
company and Jinan iron and Steel Company Limited in relation to the sale and
purchase of Iron ore in India. |
|
Date of latest
modification prior to the present modification |
28.06.2006 |
|
Particulars of
the present modification |
Loan availed to the
tune of US $ 3,600,000 by the virtue of loan agreement dated 13.02.2004 has
been repaid in full and as such there are no dues outstanding under the said
Loan agreement. The charge on Book Debts of the Company in respect of above
account be treated as satisfied. The charge in respect of additional loan
availed of US $ 5,400,000 by virtue of second loan agreement dated 28.06.2006
will continue. |
AS PER
WEBSITE DETAILS
A
The year is 1600 . A fleet of small sailing crafts called
'Pangayas' sets sail to enter the ever - expanding oceans of the country's
commerce. There were two things common among these vessels. One was that they
were an enterprise launched by the Dempo family. The second, and this is the
essence of their success story, was a marked professionalism in the venture.
Professionalism that stemmed from meeting of minds of the most outstanding
calibre. These were the new missionaries. They displayed first class skills and
commitment. And their mission was excellence.
Over the centuries, the
Padmashri Shri Vasantrao
S. Dempo is the founder of the Dempo empire. Having set the Group on the right
track he is also one of the pioneers of
Mr. Shrinivas V. Dempo
is a Post Graduate in Commerce and Masters in Business Administration from
As
Vice-President , Operations , Mr. M. V. Rebelo oversees the mining operations,
Exports , Shipping , Personnel , and Human Resources Development as well as
Transhipper Operation and river transport.
Mr. M. V. Rebelo is a
Graduate in Commerce and Law . He Joined V. S. DEMPO & Company in 1963.
As Vice-President
Finance and Taxation of the Group , Mr. S. Srinivasan heads the Finance ,
Taxation and Secretarial functions at the Corporate level.
Mr. S. Srinivasan is a
Graduate in Commerce from the
Dempo Mining Corporation (DMC) is a wholly owned subsidiary of
V.S. Dempo & Company Limited and contributes over 75% of the Group's
production of ore, thus augmenting V.S.Dempo & Company Limited export to a
large extent.
MINING IN
The territory of Goa covers an area of 3500 square kilometres.The
landscape is mostly hilly forming part of the western ghats.The altitude varies
from sea level to a maximum of 1700 metres above mean sea level.The territory
is gifted with warm tropical climate and annual rainfall of 350 to 450 cms.
during the monsoon seasons -June to October. The main rivers Mandovi and Zuari
both flowing into the
The iron ore deposits in Goa are mainly haematite and extend in
North-North West, South-South East directions from North to the South occupying
nearly 1/5th area of the total territory.
The main iron ore bearing zone is divided into four separate areas
by major faults.These areas are :
- Bicholim - Pale area
- Sancordem area
- Shigao - Kalay area
- Sanguem - Quepem area.
The iron ore bearing areas is continuous with
little local variation in thickness and quality of the ore.
DMC
The acquisition of mining
concessions in 1949 triggered off a new chain of events. It provided a much
needed boost to the country's newly started export trade in iron ore. At this
moment of industrial history , loading was done manually. The ore was
transported to the riversides of Mandovi and Zuari and loaded on to vessels
between 7000 and 10,000 DWT. Later Dempos began building barges to transport
the ore.
Today , stacking and
loading at the riverside is completely mechanised. The stacking capacities too
have increased considerably. The mines, besides being fully mechanised, are
also equipped with screening plants and beneficiation plants for upgrading the
ore. These are aided by the state-of the- art R & D laboratory.
Dempos have 19 mining
concessions all over
Concern for
SOCIAL
RESPONSIBILITY
Ensuring
production without pollution .
Dempo Mining Corporation Limited and Goa Carbon Limited (CPC
division) are the only two companies under the Dempo stable which could cause
pollution. Both these Companies have undertaken extensive measures to prevent
pollution.
LAND
From 1991-96 , Dempo Mining Corporation planted a total of
10,00,351 trees in the mines and surrounding areas of the mines. Out of these ,
8,11,447 trees have survived.This afforestation programme has arrested soil
erosion and dust generation.DMC does concentrated mining at two places over a
limited strike length.It ensures that the final excavation in the area is
completed within a period of two years.The final void is filled back by the
excavated material recovered while developing the next area.
The land surface within the mined area is shaped to either look
like what it was before, or prepared for the intended subsequent use.The
restoration is accomplished with the help of Ripper Dozer and shovels that mix
different qualities of soil to improve the soil structure.
GCL produces Calcined Petroleum Coke (CPC) . CPC has no ill
effects on vegetation , animals and other life forms. The GCL plant is
surrounded by a lush cover of trees planted by the company over the last 20
years. These have been thriving inspite of the fact that plant is located on a
"Moll" of laterite bearing earth with a very thin cover of soil. The
Company has so far planted 1000 trees in and around the plant area.
The Raw Pet Coke yard is fully covered and water is regularly
sprinkled on the RPC .
AIR
DMC has taken precautions to prevent air polution. Haul roads
leading to the processing plant are asphalted and continous spraying of water
is done during dry season.Noise level is reduced by noise protectors and
special silencers.At certain places sound proof screens have been installed to
reduce the impact of noise.As a result of introduction of sophisticated high
power and environment friendly Ripper Dozers , the need for blasting has been
eliminated. A separate road , which will be constructed , maintained and
utilised by the Company for transportation of ore has been proposed to the
Government so as to reduce inconvenience to the residents.
GCL has entrusted VIMTA LABS LIMITED , for carrying out an
Environment Impact Assessment (EIA) study. On the advise of Goa State Pollution
Control Board , GCL has installed monitoring stations for gauging the level of
carbon dust fall-out. These monitoring stations are being used to monitor
ambient air quality. As per their report , ambient air quality has been found
to be within the prescribed limit.
WATER
DMC has created a lake to ensure clean water for mining,
agriculture and for use by people in the neighbouring areas. Series of bunds,
filter beds and pits are regularly constructed and maintained to contain wash
offs from the dumps and protect the environment.Overflow discharge pipes are provided
and connected with filteration chambers.Water from these chambers is collected
in a tank .The water is re-circulated into the plant. Overflow from these tanks
after passing through the filteration chambers is channelled for agricultural
use.
Goa Carbon Limited has no discharge of liquid effluents from the
GCL plant.Therefore, there is no water pollution.
TECHNOLOGY
Dempo Metallurgical Research & Development Centre was set up
in 1979. The main objectives of this R&D centre are :
- To derive requisite data by laboratory and Pilot Plant scale
experiments on ore samples from different mines of Dempo Group of
Companies.
- To carry out investigation of bore holes samples to find its
characteristics as regards the grade, size and processing parameters.
- To generate design parameters for the beneficiation of new ore
bodies.
- To evaluate the performance of the existing plants and suggest
improvement in the plant performance depending upon the market
requirements.
SOME OF THE MAJOR WORK
DONE BY DMRDC
With a view to utilise
low grade ore from Bicholim mines , Dempos in December 1981 modified the
crushing cum screening plant which was installed by M/s.KRUPP of Germany in the
year 1960.This timely modification of the existing plant helped the company in
meeting different quality requirements of the present market.
One more most modern
beneficiation plant was installed at Kirlapale in south
In January 1986 studies
were carried out on ores with high percentage of Alumina of Bicholim area. A
flow sheet based on the test results of laboratory and Pilot Plant was
developed in DMRDC. On the basis of this data generated, a beneficiation plant
was erected at Piligao.
In June 1986 studies
were conducted on ores from Surla mines. Based on the test result of laboratory
and Pilot Plant a flowsheet was developed in DMRDC. Subsequently, on the basis
of the information a benefication plant was erected at Surla near the Surla
jetty. The entire work was done by the company personnels.
Apart from the above
major jobs, DMRDC is conducting the following routine tests:
- Determination of specific gravity of different types of samples
from Bicholim, Surla and Kirlapale mines.
- Pilot Plant beneficiation studies on low grade lumpy ore from
Bicholim mines.
- Studies on different types of samples from Bicholim, Surla and
Kirlapale mines on laboratory and Pilot Plant scale.
- Test on bore hole samples from Bicholim , Surla and Kirlapale mines
as and when desired.
DMRDC is well equipped to carry out all the relevant tests
at any point of time.
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.39.81 |
|
|
1 |
Rs.80.30 |
|
Euro |
1 |
Rs.56.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
68 |
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 |
|