MIRA
INFORM REPORT
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Report Date : |
12.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DHUPAR CHEMICALS PRIVATE LIMITED |
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Registered Office : |
7/82, Tilak Nagar, Kanpur - 208001, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.07.1986 |
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Com. Reg. No.: |
20-8045 |
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CIN No.: [Company
Identification No.] |
U19116UP1986PTC008045 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPD01062F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Leather Chemicals |
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 190000 |
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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 and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered/ Head Office : |
7/82, Tilak Nagar, Kanpur - 208001, Uttar Pradesh, India |
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Tel. No.: |
91-512-22557874/ 22542795/ 2210295/2290258/ 3042795/ 3042797 |
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Mobile No.: |
91-9839214429 |
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Fax No.: |
91-512-22525664/ 2290254 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1: |
Village Sandila, Mandhna Bithor Road, Kanpur, Uttar Pradesh, India |
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Factory 2: |
Plot No. 8/6, Sector IV, Sahibabad Industrial Area,
Ghaziazbad - 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2477289 |
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Fax No.: |
91-120-2477290 |
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Branch Office : |
Located
at :-
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Godown : |
Located at
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Gulshan Kumar Dhupar |
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Designation : |
Director |
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Address : |
7/82, Tilak Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
14.06.1951 |
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Date of Appointment : |
21.07.1986 |
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Name : |
Mr. Madhu Dhupar |
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Designation : |
Director |
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Address : |
7/82, Tilak Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
08.09.1960 |
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Date of Appointment : |
01.04.2008 |
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Name : |
Mr. Rita Dhupar |
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Designation : |
Director |
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Address : |
7/82, Tilak Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
10.11.1959 |
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Date of Appointment : |
01.04.2008 |
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Name : |
Mr. Hariom Thapar |
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Designation : |
Director |
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Address : |
K E 80, New Kavi Nagar, Ghazianbad – 201002, Uttar Pradesh, India |
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Date of Birth/Age : |
10.07.1944 |
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Date of Appointment : |
01.11.2006 |
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Name : |
Mrs. Renu Dhupar |
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Designation : |
Director |
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Address : |
7/82, Tilak Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
18.11.1960 |
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Date of Appointment : |
01.11.2006 |
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Name : |
Mr. Siddharth Dhupar |
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Designation : |
Director |
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Address : |
7/82, Tilak Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
16.02.1987 |
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Date of Appointment : |
02.10.2006 |
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Name : |
Mr. Kratika Dhupar |
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Designation : |
Director |
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Address : |
7/82, Tilak Nagar, Kanpur - 208002, Uttar Pradesh, India |
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Date of Birth/Age : |
17.01.1988 |
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Date of Appointment : |
02.10.2006 |
KEY EXECUTIVES
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Name : |
Mr.
Prashant K. Srivastava |
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Designation : |
Finance Manager |
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Name : |
Mr. Rajiv Kapoor |
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Designation : |
Company Secretary |
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Address : |
12/489, Kailash
Enclave, Gwaltole, Kanpur |
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Tel No.: |
91-512-2532241 |
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Mobile No.: |
91-9839034761 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Amrita Packaging |
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10900 |
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Mr.
Rakesh Kumar Dhupar |
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91800 |
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Mrs. Renu
Dhupar |
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120000 |
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Mrs. Rita
Dhupar |
|
69760 |
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Rakesh
Kumar Dhupar (HUF) |
|
6250 |
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Rakesh
& Renu (HUF) |
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90000 |
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Mr.
Rakesh Kumar Dhupar |
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60950 |
(As on 31.03.2007)
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Category |
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Percentage |
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Bodies Corporate |
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3.82 |
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Directors or relatives of directors |
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91.74 |
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Others |
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4.44 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Leather Chemicals |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
180 ( Office – 30 and Factory 150) |
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Bankers : |
Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India
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Facilities : |
CC – Rs.20.000 Millions from Punjab National Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajendra Neeti and Associates Chartered Accountant |
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Address : |
Raj Maya H. No. 112/292 Swaroop Nagar, Kanpur – 208002, Uttar Pradesh,
India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
524508 |
Equity Shares |
Rs.10/- each |
Rs.5.245
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.245 |
5.245 |
5.245 |
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2] Share Application Money |
0.018 |
0.000 |
0.000 |
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3] Reserves & Surplus |
33.330 |
25.040 |
19.449 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
38.593 |
30.285 |
24.694 |
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LOAN FUNDS |
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1] Secured Loans |
9.854 |
23.329 |
23.341 |
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2] Unsecured Loans |
89.843 |
39.774 |
29.994 |
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TOTAL BORROWING |
99.697 |
63.103 |
53.335 |
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DEFERRED TAX LIABILITIES |
0.573 |
0.624 |
0.736 |
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TOTAL |
138.863 |
94.012 |
78.765 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.578 |
22.056 |
21.255 |
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Capital work-in-progress |
0.964 |
1.667 |
1.000 |
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INVESTMENT |
4.119 |
2.752 |
0.485 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.787
|
30.472 |
29.689 |
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Sundry Debtors |
142.262
|
80.368 |
76.847 |
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Cash & Bank Balances |
1.607
|
0.756 |
0.698 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
11.432
|
8.122 |
6.635 |
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Total
Current Assets |
181.088
|
119.718 |
113.869 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
79.086
|
49.139 |
54.812 |
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Provisions |
0.000
|
3.042 |
3.032 |
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Total
Current Liabilities |
79.086
|
52.181 |
57.844 |
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Net Current Assets |
102.002
|
67.537 |
56.025 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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Others |
10.200 |
0.000 |
0.000 |
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TOTAL |
138.863 |
94.012 |
78.765 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
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|
31.03.2007 |
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Sales Turnover |
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|
298.825 |
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Other Income |
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0.000 |
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Total Income |
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298.825 |
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Profit/(Loss) Before Tax |
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12.756 |
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Provision for Taxation |
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4.466 |
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Profit/(Loss) After Tax |
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8.290 |
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Export Value |
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6.878 |
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CIF Value |
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Manufacturing Materials |
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7.329 |
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Trading Goods |
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|
6.051 |
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Total Import |
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13.380 |
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Total Expenditure |
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286.069 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007
|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.77
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
4.27
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.29
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.33
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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4.63
|
3.81 |
4.50 |
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Current Ratio (Current Asset/Current Liability) |
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2.29
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2.29 |
1.97 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Super House, Jajmoa
- Super Tannery, Jajmoa
Form 8:
|
Corporate
identity number of the company |
U19116UP1986PTC008045 |
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Name of the
company |
DHUPAR CHEMICALS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
7/82, Tilak Nagar, Kanpur, Uttar Pradesh, India |
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This form is for |
Creation of charge |
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Type of charge |
Movable
Properties |
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Particular of
charge holder |
Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India |
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Nature of
instrument creating charge |
Letter of
hypothecation (Car Loan) |
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Date of
instrument Creating the charge |
27.09.2007 |
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Amount secured by
the charge |
Rs.0.612 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 12.5% p.a. or
such rate as prescribed by the Bank from time to time Term of
Repayment: Repayable shall
be made in equitable monthly installment of Rs.0.021 Millions comprising of
principal and interests Margin: 20% Extent and
operation of the charge: Hypothecation of
Vehicles Financed |
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Particulars of
the property charged |
CAR |
Website Details:
Profile:
Subject established in 1975 in Kanpur - an industrial city
of Uttar Pradesh, India to feed the chemical requirements of leather industries
all around the country. They have grown up with the support and co-operation of
their valued patrons who encouraged their mission. They are proud of having
completed 27 years in the service of leather industries. Their specialities are
finishing chemicals having wide range.
They are expanding their activities in the manufacturing of coating chemicals
suitable for metal,wood, paper and textiles. They have achieved this success
after the continuos support of our R&D Team, consistancy in quality,
competitive prices and above all their devotion towards the customers. As a
result they are capable of manufacturing the products in accordance to the
International standards, competing the multinational companies in the field.
They have a chain of well reputed customers who have checked their claims
against all available options at the optimum to their entire satisfaction not
only in India but abroad as well.
Apart from the above they are manufacturing wide range of
Shoe Soles in different sizes and designs in PU / TPR /PVC suitable for ladies
and gents footwear in their seperate unit .
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.00 |
|
UK Pound |
1 |
Rs.80.47 |
|
Euro |
1 |
Rs.62.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
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|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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 |
|