MIRA
INFORM REPORT
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Report Date : |
14.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DRD BODY TECHS INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No.91 / B, Phase I, IDA Jeedimetla, Hyderabad – 500055, Andhra
Pradesh |
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Country : |
India |
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Date of Incorporation : |
12.12.2005 |
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Com. Reg. No.: |
048402 |
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CIN No.: [Company
Identification No.] |
U34201AP2005PTC048402 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of General Engineering, Manufacturers,
Fabricators, Body Builders, Body Technology, Repairs of all types of
Automobiles and other Conveyances of all descriptions whether propelled or
assets by means of petrol, diesel, spirit, stream, gas, electricity, atomic,
or other powers and of engines, chassis, bodies, raw materials, semi –
finished, products, goods, articles and other things used for in or in
connection with the above mentioned things, including that of erection,
installation and workshop engineers at all places within and outside India. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new and small company in its field. Its first
financials are awaited. Trade relations are fair. Business is active.
Payments are reported as usually correct and as per commitments. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. V. V. Suresh Babu |
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Designation : |
Accounts Manager |
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Date : |
12.04.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.91 / B, Phase I, IDA Jeedimetla, Hyderabad – 500055, Andhra
Pradesh, India |
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Tel No.: |
91-40-65211533 |
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Fax No.: |
91-40-23091769 |
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Mobile : |
91-9866544555 |
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Email : |
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Website : |
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Area : |
4500 sq. ft. |
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Locations : |
Owned |
DIRECTORS
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Name : |
Mrs. Gollu Ramadevi |
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Designation : |
Director |
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Address : |
Flat No. 103, S.S. Sai Prabha Pride, Madhura Nagar, Hyderabad – 038 |
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Date of Birth/Age : |
09.09.1960 |
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Qualifications : |
S. S. C. |
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Date of Appointment : |
12.12.2005 |
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Name : |
Mr. Rangarao |
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Designation : |
Director |
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Address : |
Plot No. 89/A, Phase – I IDA Jeedimetla, Hyderabad, R.R. District- 500
055 |
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Date of Birth/Age : |
15.08.1954 |
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Qualifications : |
ITI |
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Date of Appointment : |
12.12.2005 |
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Name : |
Mr. Gowri Shankar |
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Designation : |
Director |
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Address : |
Flat No. 103, S.S. Sai Prabha Pride, Madhura Nagar, Hyderabad – 038 |
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Date of Birth/Age : |
11.02.1975 |
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Qualifications : |
BE Medical |
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Date of Appointment : |
12.12.2005 |
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Name : |
Mr. Gollu Baburao |
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Designation : |
Director |
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Address : |
Plot No. 89/A, Phase – I IDA Jeedimetla, Hyderabad, R.R. District- 500
055 |
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Date of Birth/Age : |
10.07.1960 |
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Qualifications : |
Graduate |
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Date of Appointment : |
12.12.2005 |
MAJOR SHAREHOLDERS
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Gollu Ranga Rao |
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10000 |
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Gollu Rama Devi |
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25500 |
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Gollu Gowri Shankar |
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10000 |
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Gollu Baba Rao |
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4500 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of General Engineering, Manufacturers,
Fabricators, Body Builders, Body Technology, Repairs of all types of
Automobiles and other Conveyances of all descriptions whether propelled or
assets by means of petrol, diesel, spirit, stream, gas, electricity, atomic,
or other powers and of engines, chassis, bodies, raw materials, semi –
finished, products, goods, articles and other things used for in or in connection
with the above mentioned things, including that of erection, installation and
workshop engineers at all places within and outside India. |
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Exports : |
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Products : |
Mouldings Genes |
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Countries : |
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Imports : |
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Products : |
Sherin Machines |
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Countries : |
China |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Cash and Credit (30-45 days) |
GENERAL
INFORMATION
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Customers : |
Manufacturers |
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No of Employees : |
10 |
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Bankers : |
Ameerper Branch, Ameerpet, Andhra Pradesh – 500 016, India Email : gowrishankar@durgasgroup.co.in |
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Facilities : |
C/C Rs.3.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Siva Ram Krishna Chartered Accountant |
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Address : |
Hyderabad |
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Associates/Subsidiaries : |
Hyderabad Manufacturer, Exporter and Importer of Truck Under Trailors (Body
Building), Only Job Work of Ashoklayland Company
Hyderabad Manufacturer, Exporter and Importer of Truck Under Trailors (Body
Building), Only Job Work of Ashoklayland Company |
CAPITAL STRUCTURE
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 millions |
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Paid – up Capital:
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No. of Shares |
Type |
Value |
Amount |
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650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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300.000 |
180.00 |
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LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporation identity number or foreign company registrations number of
the company |
U34201AP2005PTC048402 |
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Name of the company |
DRD BODY TECHS ( INDIA ) PRIVATE LIMITED |
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Address |
Plot No.91/ B, Phase I, IDA Jeedimetla, Hyderabad, 500055, Andhra Pradesh, India. |
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This Form is for |
Modification of charges |
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Type of Charges |
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Particular of the charge holder
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Bank Of India Ameerper Branch, Ameerpet, Hyderabad, Andhra Pradesh – 500 016, India Email ID : gowrishankar@durgasgroup.co.in |
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Nature or description of the instrument creating charge |
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Date of the instrument creating charge |
02.11.2006 |
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Amount Secure by the charge |
Rs.2.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest: Interest Payable is 1% over BPLR minimum 12.50 % per annum with monthly rests or at such rates as may be notified to the company by the bank from time to time. Terms
of repayment: Repayment on Demand Margin: 25% on stocks Extent
and operation of the charge : All Tangible movable assets of the company including in particular all stocks of Raw Materials such as HR coils, M S Angles, Channels, Pipes, stocks in Process, Finished Goods, Movable machinery, Stores, Spares parts, Furniture, etc., Whosesoever situated and / or in transit. |
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Particulars of the Present modification |
LC Limit of Rs.2.500 Millions sanctioned to company in place of inland bills purchase limit of Rs.2.500 Millions. |
Trade reference:
- Ashok Leyland, Chennai
- HIAB, (Swedan) Bangalore Branch
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.94 |
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UK Pound |
1 |
Rs.78.81 |
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Euro |
1 |
Rs.63.05 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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31 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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