MIRA
INFORM REPORT
|
Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DAGA GLOBAL CHEMICALS LIMITED |
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Registered Office : |
112, Dattani Trade Centre, Chandavarkar Road, Borivali (West), Mumbai-400092,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.03.1996 |
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Com. Reg. No.: |
11-98494 |
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CIN No.: [Company
Identification No.] |
U24100MH1996PLC098494 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD07970E |
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PAN No.: [Permanent
Account No.] |
AAACD2233M |
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Legal Form : |
A Closely Held Public Limited Liability Commpany |
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Line of Business : |
Suppliers and Distributors of chemicals, pharmaceutical
raw materials |
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 600000 |
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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 well-established trading company having fine
track of performance and market reputation. General financial position is
satisfactory. Payments are usually correct and as per commitments. The concern can be considered normal for any business
dealing at usual trade terms and conditions. |
LOCATIONS
|
Registered Office/ Head Office : |
112, Dattani Trade Centre, Chandavarkar Road, Borivali (West),
Mumbai-400092, Maharashtra, India |
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Tel. No.: |
91-22-28060909 |
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Fax No.: |
91-22-28911013 |
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E-Mail : |
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Website : |
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Overseas Office
: |
v Post
Box No. 17818, Jebel Ali Free Zone, Dubai, U.A.E. Tel. No : +971-4-887 1300 v Room 1002, Orient City View Garden, Building 4,768, Gongping Road, Shanghai – 200 086, P.R.China Tel. No :
+86-21-6504 3362 |
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Branches : |
v
501, Fern Hill Apartments, 6-3-890/1, Rajbhavan Road,
Somajiguda, Hyderabad – 500082, Andhra Pradesh, India Tel. No. 91-40-23320995, 23302901, 23302934 Fax No. 91-40-23320996 E-Mail : hyderabad@dagapetro.com Contact : Mr. Pradeep Daga / Mr. B. Rangarao v 10, Clive Row, R. No. 11, 7th Floor, Kolkata – 700001, West Bengal, India Tel. No. 91-33-22426939, 22109218 Fax No. 91-33-22421089 E-Mail : calcutta@dagapetro.com Contact: Mr. S. Bose / Mr. Moloy Panja v House No. 12/163, 2nd Floor, Malviya Nagar, New Delhi – 110017, India Tel. No. 91-11-26687811, 26688788 Fax No. 91-11-26688788 E-Mail : delhi@dagapetro.com Contact : Mr. Dilip Maheshwari v Plot No. 9, 100th Street, 15th Sector, K. K. Nagar, Chennai – 600078, Tamil Nadu, India Tel. No. 91-44-24728283 Fax No. 91-44-24728283 E-Mail : chennai@dagapetro.com Contact : Mr. N. Krishnan v 6, New Flower Kunj Society, Opp. Pulkit School, Fatehpura, Paldi, Ahmedabad – 380007, Gujarat, India Tel. No. 91-79-6634793 Fax No. 91-79-6634793 E-Mail: ahmedabad@dagapetro.com Contact: Mr. Himanshu Palakhiwala v 25/E, Dhanlaxmi Complex, Near Samta Flats, Arunachal Road, Subhanpura, Baroda – 390007, India Tel. No. 91-265-2393416 Fax No. 91-265-2393416 E-Mail: baroda@dagapetro.com Contact: Mr. Sanjay Upadhyaya v 815-A, Hemkunt Tower, 98 Nehru Place, New Delhi – 110 019, India Tel. No: 91-11-5560 1090 v Unit R-3, Commercial Point, 6th Floor, 79 Lenin Sarani, Kolkata – 700013, West Bengal, India Tel. No: 91-33-22178970 |
DIRECTORS
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Name : |
Mr. Satyen M. Daga |
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Designation : |
Chairman &
Managing Director |
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Address : |
A-4/401, Yogi Palace, Yogi Nagar, Borivali (West), Mumbai-400091,
Maharashtra, India |
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Date of Birth/Age : |
12.12.1961 |
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Date of Appointment : |
28.03.1996 |
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Name : |
Mr. Pradeep Daga |
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Designation : |
Whole time
Director |
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Name : |
Mr. Mahesh Daga |
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Designation : |
Associate
Director |
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Address : |
A-2/102, Yogi Palace, C Yogi Nagar, Borivali (West), Mumbai-400091,
Maharashtra, India |
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Date of Birth/Age : |
02.12.1968 |
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Date of Appointment : |
29.09.2007 |
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Name : |
Ms. Kokila A. Gadhiya |
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Designation : |
Whole-Time
Director |
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Address : |
A-503, Shiv Amrut, Bharwany’s Complex, Kalyan (West), Thane-421301,
Maharashtra, India |
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Date of Birth/Age : |
29.12.1963 |
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Date of Appointment : |
28.03.1996 |
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Name : |
Mr. Vijay Gajanan Gangan |
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Designation : |
Additional Director |
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Address : |
A-704, Shri Krishna, Borasa Pada Road, Near Kamala Vihar Sports Club, Kandivali-
West, Mumbai-400067, Maharashtra, India |
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Date of Birth/Age : |
10.05.1968 |
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Date of Appointment : |
03.05.2006 |
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Name : |
Ms. Kirti Krishna Late Mahabir Prasad Daga |
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Designation : |
Director |
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Address : |
Po. Box No. 17818, Dubai |
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Date of Birth/Age : |
23.11.1972 |
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Date of Appointment: |
29.09.2007 |
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Name : |
Mr. Raghuvirsinh Jatubah Sarvaiya |
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Designation : |
Director |
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Address : |
14, Giriraj Society, Shivanilay, Dr. Rajendra Prasad Road, New Sama Road,
Vadodara-390002, Gujarat, India |
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Date of Birth/Age : |
07.10.1938 |
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Date of Appointment: |
29.09.2007 |
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Name : |
Shiv Kumar Singhal |
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Designation : |
Director |
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Address : |
F-14, Ashok Vihar Phase- I, Delhi-11052, India |
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Date of Birth/Age : |
30.05.1952 |
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Date of Appointment: |
29.09.2007 |
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Name : |
Mr. Yashwant Hanumant Gharpure |
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Designation : |
Director |
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Address : |
G-4, Suyog Co- Operative Housing Society, Plot No. -5, Sector 10-A, Vashi,
Navi Mumbai-400703, Maharashtra, India |
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Date of Birth/Age : |
03.04.1934 |
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Date of Appointment: |
239.09.2007 |
KEY EXECUTIVES
|
Name |
Mr. Satyen M. Daga |
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Designation |
Chairman & Managing Director |
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Address |
A-4/401, Yogi Palace, Yogi Nagar, Borivali (West), Mumbai
– 400 091, Maharashtra, India |
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Age |
40 years |
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Qualification |
B. Com Graduate |
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Experience |
21 years |
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Date of Joining |
1st April,1996 |
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Previous Employment |
Partner in Daga Chemicals |
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Name |
Mr. Mahesh Daga |
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Designation |
Associate Director |
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Address |
A-2/102, Yogi Palace, Yogi Nagar, Borivali (West), Mumbai
– 400 091, Maharashtra, India |
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Name |
Mr. Pradeep M. Daga |
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Designation |
Whole time Director |
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Address |
B-503, Prince Manor, 5th Floor, 114,
Purasawalkam High Road, Chennai – 600 010, Tamil Nadu, India |
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Name |
Ms. Kokila A. Gadhiya |
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Designation |
Whole-Time Director |
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Address |
A/503, Shivamrut Building No. 13, Bharwaney's Shivshah
Compound, Near Patri Road, Kalyan (West), Thane – 421 301, Maharashtra, India |
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Age |
37 years |
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Qualification |
B. Com. Graduate |
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Experience |
14 years |
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Date of Joining |
1st April, 1996 |
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Previous Employment |
Manager In Daga Chemicals |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
|
Sayten Daga |
|
130850 |
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Kirti Krishna Daga |
|
78640 |
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Sayten Daga & others |
|
21030 |
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Total |
|
230520 |
Equity Share Breakup (Percentage of Total Equity)
As on 31.03.2006
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Suppliers and Distributors of chemicals, pharmaceutical
raw materials |
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Products : |
Its’ products range include : - v Dimethyl Glucine Hydrochloride v Dimethyl Sulphone v Methyl Sulphonyl Methane v Para Quinone Dioxime v Tributyl Phosphate v Toluene v Methanol v Dimethyl Formamide (DMF) v Dimethylacetamide (DMAC) v Dimethyl Amine – 40% v Carbon Tetra Chloride v Chloroform v Methylene Chloride v Trimethyl Phosphite (TMP) v Phosphorous Trichloride (PLC3) |
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Agencies Held : |
v
Alpha Drugs India Limited, India (A Majority
Participation by DSM, The Netherlands) v Avon Organics Limited, India v Enzal Chemicals India Limited, India v ICI India Limited, India (Now known as Nicholas Piramal India Limited) v Nanjing Henglong Chemicals Limited, China v Qatar Vinyl Company, Qatar v Reliance Cellulose Products Limited, India v Sripathi Pharmaceuticals Limited, India v Surya Pharmaceuticals Limited, India v Tagros Chemicals India Limited, India v Temad Company Darou Prakash, Iran v Zydus Cadila Healthcare Limited, India v Atoning, France v Borouge PTE. Limited, Singapore v Clara India Limited, India v EID Parry (India) Limited, India v Emissary Biotech and Nutrition Limited, India v Kochi Refineries Limited, India v RCF Limited, India v SRF Limited, India v
Watson Organics Limited |
GENERAL
INFORMATION
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No. of Employees : |
70 |
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Bankers : |
Union Bank of India, Bhat Bazar Branch, Anant Deep Chambers, 273/ 277,
Narsi Natha Street, Mumbai-400009, Maharashtra, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
A P Doshi and Company Chartered Accountant |
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Address : |
201, Bhaveshwar Complex, Opp. Railway Station, Vidyavihar (West), Mumbai - 400 086, Maharashtra, India |
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Tel. No.: |
91-22-25146854/25146855 |
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Mobile No.: |
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Fax No.: |
91-22-25156800/25155141/25146854 |
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E-Mail : |
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Associates : |
v
Daga Exports Private Limited v
Daga Financial Services Private Limited |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on 21.07.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs. 100/- each |
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000 |
Equity Shares |
Rs. 100/-
each |
Rs. 35.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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1] Share Capital |
|
35.000 |
30.000 |
|
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2] Share Application Money |
|
0.000 |
0.000 |
|
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3] Reserves & Surplus |
|
86.587 |
62.364 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
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NETWORTH |
|
121.587 |
92.364 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
147.783 |
154.017 |
|
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2] Unsecured Loans |
|
0.000 |
0.000 |
|
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TOTAL BORROWING |
|
147.783 |
154.017 |
|
|
DEFERRED TAX LIABILITIES |
|
0.115 |
0.413 |
|
|
|
|
|
|
|
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TOTAL |
|
269.485 |
246.794 |
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
|
5.798 |
4.448 |
|
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Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
17.095 |
16.099 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
|
54.032 |
66.963 |
|
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Sundry Debtors |
|
197.597 |
228.870 |
|
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Cash & Bank Balances |
|
66.740 |
35.074 |
|
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Other Current Assets |
|
1.974 |
1.238 |
|
|
Loans & Advances |
|
15.465 |
23.529 |
|
Total
Current Assets |
|
335.808 |
355.674 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
87.272 |
125.850 |
|
|
Provisions |
|
1.944 |
3.577 |
|
Total
Current Liabilities |
|
89.216 |
129.427 |
|
|
Net Current Assets |
|
246.592 |
226.247 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
269.485 |
246.794 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
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Sales Turnover |
|
1192.218 |
1303.689 |
|
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Other Income |
|
94.189 |
99.459 |
|
|
Total Income |
|
1286.407 |
1403.148 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
43.356 |
26.632 |
|
|
Provision for Taxation |
|
13.686 |
13.327 |
|
|
Profit/(Loss) After Tax |
|
29.670 |
13.305 |
|
|
|
|
|
|
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Earnings in Foreign Currency : |
|
|
|
|
|
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Export Earnings |
|
30.791 |
30.210 |
|
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
|
1176.934 |
1303.875 |
|
|
Salaries, Wages, Bonus, etc. |
|
12.005 |
12.744 |
|
|
Managerial Remuneration |
|
0.000 |
2.581 |
|
|
Payment to Auditors |
|
0.281 |
0.281 |
|
|
Interest |
|
14.986 |
16.590 |
|
|
Insurance Expenses |
|
3.654 |
3.772 |
|
|
Power & Fuel |
|
0.524 |
0.541 |
|
|
Depreciation & Amortization |
|
1.548 |
1.285 |
|
|
Other Expenditure |
|
33.118 |
34.848 |
|
Total Expenditure |
|
1243.051 |
1376.517 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
2.31 |
0.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.64 |
2.04 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
12.69 |
7.39 |
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.36 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.73 |
3.07 |
|
|
|
|
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Current Ratio (Current Asset/Current Liability) |
|
|
3.76 |
2.75 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
v National Organic Chemical Industries Limited
Sherief Chambers, A wing, Rear Block, 14, Cunningham Road, Bangalore – 560 052, Karnataka, India
Tel. No. 91-80-228 7673
Contact Person : Mr. S. Boral
v Rashtriya Chemicals & Fertilizers Limited
Priyadarshini, Eastern Express Highway, Mumbai – 400 022,
Maharashtra, India
Tel. No. 91-22-24070225
Contact Person : Mr. S. J. Kunjarkar
v Jaykay Chemicals
Mumbai, Maharashtra, India
Tel. No. 91-22-23433357, 23432280
Contact Person : Mr. J. K. Rathi
v Shashikant Sayer & Brothers
Mumbai, Maharashtra, India
Tel. No. 91-22-23422740, 23427340
Contact Person : Mr. Shashikant Sayer
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80016638 |
|
Corporate
identity number of the company |
U24100MH1996PLC098494 |
|
Name of the
company |
DAGA GLOBAL CHEMICALS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
112, Dattani Trade Centre, Chandavarkar Road, Borivali (West),
Mumbai-400092, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Union Bank of India, Bhat Bazar Branch, Anant Deep Chambers, 273/ 277,
Narsi Natha Street, Mumbai-400009, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary Agreement
to Hypothecation Agreement of Goods and Debts |
|
Date of
instrument Creating the charge |
01.12.2006 |
|
Amount secured by
the charge |
Rs. 160.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.50% per annum
with monthly rests Terms of
Repayment On Demand Margin As per Bank’s
sanction letter Extent and
Operation of the charge To secure SOD (Book
Debts) facility of Rs. 160.000 Millions including interchangeability of Rs.
50.000 Millions between SOD (Book Debts) and UBD/ UBD L/C vice-versa |
|
Short particulars
of the property charged |
Hypothecation of
Goods, Book-debts and Movable property covered by the Principle hypothecation
Agreement shall continue to be security for the bank for the enhanced limit
of Rs. 160.000 Millions granted by the Bank to the Company |
|
Date of latest
modification prior to the present modification |
12.07.2005 |
|
Particulars of
the present modification |
An additional sum
of Rs. 50.000 Millions has been granted by the Bank thereby enhancing SOD
(Book Debts) limit from Rs. 110.000 Millions to Rs. 160.000 Millions
including interchangeability of Rs. 50.000 Millions between SOD (Book Debts)
and UBD/ UBD L/C vice versa an secured against hypothecation of Goods,
book-debts and Movable Property covered by the Principle hypothecation
Agreement shall continue to be security for the bank for the enhanced limit
of Rs. 160.000 Millions Modification Dated 12.07.2005 Registered on
23.08.2005 |
AS PER WEBSITE
Profile:
Subject established in 1985, is a rapidly growing USD 60 mn. (2006)
chemicals supply and distribution company, widely networked in India since 1985
(H.O.: Mumbai), with overseas arms at Jebel Ali, Dubai (since 2001) and
Shanghai, China (since 2004).
Products handled : Bulk and Fine Chemicals, Solvents, Intermediates, Agro and
Pharmaceutical Raw Materials, Polymers, Lubricants etc.
Industries catered : Chemical, Pharmaceutical, Agrochemical, Paint &
Printing Ink, Pigment, Polymer, Automotive Lubricants (retail) etc.
Geographical coverage : Asian and African markets.
Their strength in supply chain:
-
Outsource products competitively from India, China and Middle East.
-
Provide techno-commercial sales support through a team of highly
experienced personnel.
-
Logistics support.
-
Financially sound.
They are the only chemical trading company in India to have following
distinct honors:
1.
ISO 9001 : 2000 Certification by BVQI
2.
“@@@” Credit Rating from Coface
3.
“3A2” Credit Rating from D&B.
4.
“SME –2” Credit Rating from CRISIL
5. Thrice accredited with coveted national
level Jamnalal Bajaj Award for Fair Business Practices
in 1995, 2001 and 2003
|
Products
handled |
Principals(Manufacturers |
|
-Dimethylsulphoxide (DMSO) - Hydrazine Hydrate - 80% / 100% |
Arkema, France
(formerly Atofina) |
|
Diketene Derivatives |
|
|
Aceto Acet Anilide (AAA) -
5-Aceto
Acetylamino-2- -
Benzimidazolone (AABI / 5AAABI) -
- Aceto Acet-o-Chloro Anilide (AAOCA) -
- Aceto Acet-m-Xylidide (AAMX) -
- Aceto Acet-o-Anisidide (AAOA) -
- Aceto Acet-o-Toluidide (AAOT) -
- Aceto Acet-p-Anisidide (AAPA) -
- Aceto-Acetanilide-2-Carboxylic Acid (AA2C) |
The seventh largest in the world and second only to
Clariant Color Chem in India, producing Diketene Derivatives. Also producing
bulk drug through bio route at Solapur plant - under process for USFDA
approval. |
|
|
|
|
-
Benzene - - Toluene |
Bharat Petroleum
Corporation Limited., India |
|
|
|
|
-
HDPE - LLDPE & MDPE |
Borouge Pte. Limited., Singapore |
|
Automative and Industrial Lubricants |
|
|
|
|
|
- Ornidazole |
Endoc Pharma, India |
|
|
|
|
- NMP, Butyl Cellosolve |
Lyondell, Singapore |
|
|
|
|
- Caustic Soda Lye (CSL) |
|
|
|
|
|
Methanol |
Rashtriya Chemicals & Fertilizers Limited. (RCF) |
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Iso Propyl Alcohol (IPA) – Drum -
Iso Propyl Ether
(IPE) – Drum -
Methyl Iso Butyl
Ketone (MIBK) - Bulk & Drum |
Shell, Singapore |
|
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1-Bromo-4-Fluoro Benzene (PBFB) |
SRF Limited., India Is a market leader in industrial yarn & fabric as well
as refrigerant gases in India. SRF has roots going back over a hundred years
with the establishment of textile mills in India... |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.37 |
|
UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
|