MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DHANYASREE PRECISION PRIVATE LIMITED |
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Registered Office : |
TVS Main Road, Kotha Gondapally, Hosur Taluka, Krishnagiri District,
Hosur – 635109, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.02.2005 |
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Com. Reg. No.: |
18-011603 |
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CIN No.: [Company
Identification No.] |
U02919TZ2005PTC011603 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHED05648G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufactures And Exporters Of Mechanical Power Press, Traub, Welding Machines, Rotatory Machines, Mig Matic Welding Machines, Drilling And Surface Grinding Machines, Press Components, Turning Part Components And Ccms Wires |
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. |
Small |
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Maximum Credit Limit : |
USD 628 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established small company. It has satisfactory track.
Its payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. Management remained non-cooperative during current investigations. |
LOCATIONS
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Registered Office : |
TVS Main Road, Kothagondapally, Hosur Taluka, Krishnagiri District,
Hosur – 635109, Tamilnadu, India |
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Tel. No.: |
91-4344-278514 |
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Email : |
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Website : |
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Factory : |
No.C-10, SIDCO Industrial Area, Phase I, SIPCOT, Hosur – 635126,
Tamilnadu, India |
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Tel. No.: |
91-4344-395735 |
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Fax No.: |
91-4344-278514 |
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Mobile : |
91-9443057903 |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. A. Ramesh |
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Designation : |
Chairman |
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Address : |
S/o. P. Aswathnarayaiah Sadashiva Nagar, Attibele, Anekal Road, Bangalore-560056, India |
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Date of Birth/Age : |
26.02.1970 |
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Date of Appointment : |
16.02.2005 |
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Name : |
Mr. A. Umesh |
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Designation : |
Director |
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Address : |
S/o. P. Aswathnarayaiah Sadashiva Nagar, Attibele, Anekal
Road, Bangalore-560056, India |
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Date of Birth/Age : |
20.08.1975 |
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Date of Appointment : |
16.02.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 09.02.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. A. Ramesh |
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5000 |
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Mr. A. Umesh |
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5000 |
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Total |
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10000 |
(As on 31.03.2006)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufactures And Exporters Of Mechanical Power Press, Traub, Welding Machines, Rotatory Machines, Mig Matic Welding Machines, Drilling And Surface Grinding Machines, Press Components, Turning Part Components And Ccms Wires |
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Products : |
· Mechanical Power Press · Traub · Welding Machines · Rotatory Machines · Mig Matic Welding Machines · Drilling And Surface Grinding Machines · Press Components · Turning Part Components · Ccms Wires |
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Terms : |
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Selling : |
Credit (30 days), Cash |
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Purchasing : |
Credit (30 days), Cash |
GENERAL
INFORMATION
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Customers : |
· Manufacturers · Omax Autos Limited · Sundaram Auto Components Limited · Thai Sumit Neel Private Limited |
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Suppliers : |
· Nouveaux Industries Private Limited · Ramm Precision Products Private Limited · Shubodaya Auto Components Limited · Mysore Vanijya Private Limited · Power Arc Welding Systems · Rohit Plastrosacks Private Limited |
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No. of Employees : |
20 |
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Bankers : |
· Bank of Baroda , Hosur main branch, Hosur · ICICI Bank , Hosur |
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Banking Relations
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- |
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Auditors : |
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Name : |
B.V. Sreekantha Chartered Accountants |
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Address : |
No-30, Bhavani Plaza, Netaji road, Hosur -635109, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Share |
Rs.10/- each |
Rs.2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.057 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.157 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.697 |
0.000 |
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2] Unsecured Loans |
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0.766 |
0.000 |
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TOTAL BORROWING |
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1.463 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.620 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.526 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.010 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.526 |
0.000 |
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Sundry Debtors |
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2.261 |
0.000 |
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Cash & Bank Balances |
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0.008 |
0.036 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.248 |
0.000 |
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Total
Current Assets |
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4.043 |
0.036 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.830 |
0.000 |
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Provisions |
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0.192 |
0.006 |
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Total
Current Liabilities |
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4.022 |
0.006 |
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Net Current Assets |
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0.021 |
0.030 |
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MISCELLANEOUS EXPENSES |
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0.063 |
0.070 |
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TOTAL |
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1.620 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover (Including Other Income) |
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6.240 |
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Total Income |
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6.240 |
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Profit/(Loss) Before Tax |
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0.057 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.057 |
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Expenditures : |
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Financial Charges |
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0.029 |
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Depreciation |
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0.077 |
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Other Expenditure |
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6.077 |
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Total Expenditure |
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6.183 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.91 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.91 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.02 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.36 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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34.94 |
0.06 |
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Current Ratio (Current Asset/Current Liability) |
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1.00 |
6.00 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate identity
number (CIN) Foreign company registration number |
U02919TZ2005PTC011603 |
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Name of the
Company |
DHANYASREE PRECISION PRIVATE LIMITED |
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Address |
TVS Main Road, Kotha Gondapally, Hosur Taluka, Krishnagiri District, Hosur
– 635109, Tamilnadu, India |
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This form is for |
Creation of Charge |
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Type of Charge |
Hypothecation |
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Particulars of
the charge holder |
Bank of Baroda SSI Branch, Hosur
– 635109, Tamilnadu, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Composite
Hypothecation Agreement |
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Date of the
instrument creating or modifying the charge |
28.04.2006 |
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Amount secured by
the charge |
Rs.0.532 Million |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: Term Loan 1.50%
p.a. WC Loan 9.75% p.a. Terms of
Repayment: 60 months and
Investment Margin: 25% After
moratorium period of 7 months w. c. Loan on Monthly rests. Extent and
operation of Charge: Loan Period |
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Short particulars
of the property charged (including location of the property) |
·
Immovable
Properties ·
Plant and Machinery ·
Furniture
and fixture ·
Stock in
trade ·
Book Debts ·
Vehicles |
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Particular of the
present modification |
NA |
Profile:
Subject
is an ISO 9001: 2000 certified companies started in the year 2000. Since then
we are manufacturing Press Tools, Stamping and catering to Automobile
Industries.
The
company is situated in SIPCOT Industrial Area, Hosur, Tamilnadu. The
Company is having 20000 Square feet area in which 5000 Square feet is built up area
and is being utilized.
The
company is assisted with 45 nos of well trained and qualified employees.
It has got a team of engineers with wide knowledge SQC and SPC techniques.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.89 |
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UK Pound |
1 |
Rs.79.65 |
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Euro |
1 |
Rs.63.06 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
NO |
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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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38 |
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. |
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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