MIRA
INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DYNA AIRCON PRIVATE LIMITED |
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Registered Office : |
701 Somdutt Chambers II, 9,
Bhikaji Cama Place, New Delhi 110066 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.05.1989 |
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Com. Reg. No.: |
55-36080 |
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CIN No.: [Company
Identification No.] |
U74899DL1989PTC036080 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD02088C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Services Related to Refrigeration, Air-Conditioning. |
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 484245 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The company has not prepared and filed its 2008 financials with the Government departments and the management declined to part the same. Subject is an established company having satisfactory track. Directors are reported as experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered for business dealings at usual trade terms and conditions. |
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LOCATIONS
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Registered Office : |
701 Somdutt Chambers II, 9, Bhikaji Cama Place, New Delhi 110066,
India |
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Tel. No.: |
91-11-26161212 / 26103142 /
26168161 / 26193575 |
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Fax No.: |
91-11-26194575 / 26191509 |
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E-Mail : |
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Website : |
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Area : |
327 Sq. ft. |
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Location : |
Rented |
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Corporate Office : |
Opposite Bhikaji Cama Place, Safdarjung Enclave, New Delhi, India |
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Area : |
1500 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Rakesh Wadhwa |
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Designation : |
Director |
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Address : |
E-270, Narain Vihar, New Delhi 110028, India |
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Date of Birth/Age : |
22.06.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.12.1989 |
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Name : |
Mrs. Renu Wadhwa |
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Designation : |
Director |
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Address : |
E-270, Narain Vihar, New Delhi 110028, India |
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Date of Birth/Age : |
10.08.1956 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.05.1989 |
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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Rakesh Wadhwa |
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70 |
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Renu Wadhwa |
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860 |
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Rishabh Wadhwa |
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70 |
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Total |
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1000 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Services Related to Refrigeration, Air-Conditioning. |
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Imports : |
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Products : |
v Machinery |
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Countries : |
v USA v France v UK v Japan |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Telegraphic Transfer |
GENERAL
INFORMATION
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Customers : |
·
BPO ·
IT Sector ·
American Express India Private Limited ·
Ericsson India Private Limited ·
Deutsche Bank AG ·
Xerox Modicorp Limited ·
Motorola India Limited ·
GE Plastics India Limited ·
Bank of America ·
Dabur India Limited ·
Max Healthcare ·
Apollo Limited ·
Dharamshilla Cancer Foundation ·
Ridge Hospitals Private Limited ·
The Oberoi Hotel ·
Oberoi Maidens, ·
Ambassador Hotel ·
WNS ·
Cadence ·
Daksh ·
HCL ·
Adobe ·
HCL Technologies ·
American Express ·
CSC Experience Results ·
Micro Soft ·
Motorola ·
Vertex ·
Max healthcare ·
Deutsche Bank ·
Ericsson |
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No. of Employees : |
55 |
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Bankers : |
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Banking Relations
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Good |
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Auditors : |
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Name : |
Rakesh Chaudhary and Company Chartered Accountants |
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Address : |
11, District Centre, Janakpuri, New Delhi 110058, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.300 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.100
Million |
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
44.025 |
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3] Reserves & Surplus |
96.749 |
63.110 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
96.849 |
63.210 |
44.125 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.703 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.703 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
98.552 |
63.210 |
44.125 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.585 |
13.175 |
12.899 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
13.700 |
17.055 |
5.200 |
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DEFERREX TAX ASSETS |
0.816 |
0.264 |
0.167 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
17.177
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6.063 |
4.994 |
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Sundry Debtors |
70.406
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28.404 |
32.299 |
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Cash & Bank Balances |
34.389
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27.729 |
23.396 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
48.448
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28.131 |
15.589 |
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Total
Current Assets |
170.420
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90.327 |
76.278 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
56.758
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.32.645 |
36.930 |
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Provisions |
44.211
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24.966 |
13.489 |
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Total
Current Liabilities |
100.969
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57.611 |
50.419 |
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Net Current Assets |
69.451
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32.716 |
25.859 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
98.552 |
63.210 |
44.125 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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284.847 |
171.070 |
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Total Income |
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284.847 |
171.070 |
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Profit/(Loss) Before Tax |
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33.639 |
19.085 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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33.639 |
19.085 |
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Earnings in Foreign Currency : |
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Export Earnings |
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0.483 |
NA |
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Total Earnings |
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0.483 |
NA |
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Imports : |
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Import Earnings |
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0.258 |
1.449 |
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Total Imports |
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0.258 |
1.449 |
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Total Expenditure |
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251.208 |
151.985 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
11.80
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11.15 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
11.80
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11.15 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
18.18
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18.43 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.35
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0.30 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.06
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0.91 |
1.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.68
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1.57 |
1.51 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Birla
Software
- Cuvence
Design System
- Adobe
As Per Website Details
Subject: was founded in 1985 and has been executing projects of all magnitudes and complexity for varied clients in all corners of the country.
They take pride in the work and also in sharing the list of clients who they
have successfully partnered and exceeded their expectations from us. The client
list includes organizations from various fields such as pharmaceuticals, IT,
health care, BPO’s, Software research etc. Over the span of 15 years they have delivered time
bound turn key projects for companies like Cadence, Adobe, Microsoft, Hughes
software, Max hospital, Nokia etc.
Such is the dedication and commitment towards the work and beating deadlines,
that they share a unique and distinct record in the industry of having done
multiple phases and projects one after the other for many of the satisfied
clients. Eg: Xansa , Nokia, Adobe, Cadence, IBM Daksh, Deutshe bank, Vertex
7c’s, Hughes software and many more.
They do not believe in compromises, and employ amongst the workforce a unique
blend of the most talented and experienced personnel who have served us for diligently
for a long time coupled with fresh intakes from time to time to strengthen the
bench.
The team believes in alleviating the usual maladies that the faced by clients,
consultants and PMC’s such as poor quality, deadline violations etc. They
believe in delivering the project, with the best possible quality, within the
given time frame, on a consistent basis
Services
Engineering/Design Detraining
Subject maintains a team of experienced CADD designers and engineers who are
conversant with lay outs and designing HVAC fields. The engineers are also
trained in latest planning-cum-scheduling software, besides having modern Auto
CAD Stations.
Project Execution
They have a team of Highly Trained and Experienced Installation and Service
Technicians. Using Computerized Design, Estimating and Scheduling Technology,
they are able to effectively manage the craftsmen, ensure superior quality
control, and meet the most rigorous time schedules.
Testing and
Commissioning:
v
Air and Water
Balancing
v
Functional Performance
Testing
v
Control System
Verification
v
HVAC
Commissioning
v
Clean Room
Testing
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Sound and
Vibration
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Fumehood Testing
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Duct Leakage
Testing
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Indoor
Environmental Testing
v
Cooling Tower
Performance
v
Pre-Construction
Plan Review
After Sales Service
Subject has a dedicated team undertaking regular maintenance and servicing jobs
for all its installations. The engineers and technicians are intensively
trained to handle the costly, sophisticated air-conditioning installations at
client sites. They aim to provide total comfort and peace of mind that
incorporates safety, efficiency and economy.
Customers
Subject has been involved in implementing Turnkey HVAC Projects for numerous well- known business organisations in BPO, Hospitals, Software, Hospitality to various high net worth individuals and professionals.
Partial list of the clients –
v BPO – Daksh e - Services Private Limited
v HCL e-Serve Technologies Limited
v Spectra Net Limited
v Convergys Vertex 7C Customer Services
v Infogain India
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IT Sector -
Microsoft Corporation (India) Private Limited
v
Cadence Design
Systems India Private Limited
v
Adobe Systems
India Private Limited
v
Hughes Software
Systems
v
Computer
Sciences Corporation India Private Limited
v
Xansa India
Limited
v
Keane India
Limited
v
Huawei Technologies
Company Limited
v
Corporates -
American Express India Private Limited
v
Ericsson India
Private Limited
v
Deutsche Bank AG
v
Xerox Modicorp
Limited
v
Motorola India
Limited
v
GE Plastics
India Limited
v
Bank of America
v
Dabur India
Limited
v
Smithkline
Beecham Consumer Healthcare Limited
v
Punj Lloyd
Limited
v
Hospitals - Max
Healthcare, Apollo Limited
v
Sir Gangaram
Hospital, Dharamshilla Cancer Foundation
v
Ridge Hospitals
Private Limited
v
M. M. Healthcare
v
Hospitality -
Maurya Sheraton, ITC Welcome group
v
The Oberoi
Hotel, Oberoi Maidens
v
Ambassador
Hotel, TGI’s Friday, Domino’s Pizza
v
Goverdhan Hotels
and Restaurants
v
Nanz Super
Market
v Embassy/High Commissions - French Embassy, U.S Embassy/Morrison
v Royal Danish Embassy
v Italian Embassy
v Swiss Embassy
v Embassy of Greece
v Zambian Embassy
v Embassy of Uzbekistan
Infrastructure
Subject has an in-house design and development department which is headed by Mr. Gurcharan Singh, a well-known and respected gentleman with years of experience and having served abroad in Dubai. The team of draughtsman under him work on the latest hardware and software (AutoCAD) to generate comprehensive drawings which form the backbone of any project.
They have a complete maintenance and commissioning replete with qualified and professional staff in the field and having served Dyna since its inception, to tackle the intricacies of project commissioning.
The accounts department is headed by Mr. Ashwani Anand, who is extremely well versed in the intricacies of commercial and legal terminologies which form potential bottlenecks in the project ordering and execution stages.
The projects team is headed by Mr. Mohit Gulati and Mr. Anil Kathpalia, both certified mechanical engineers from DCE and REC kurukshetra and having been with Dyna for over 7 and 14 years respectively. They are reported to by a team of well qualified project supervisors who are degree and diploma holders etc. having served us for many years.
Finally, the sales and marketing team headed by the managing director Mr. Rakesh Wadhwa and sub-ordinated by Mr. Naresh arora and Mr. Rishabh Wadhwa, who is a certified engineer and M.B.A from fore school of management
Fixed Assets:
v Building
v Leasehold Land
v Plant and Machinery
v Air conditioners
v Office Equipments
v Computers
v Furniture and Fixture
v Vehicles
v Generators
v Electrical Equipments
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 :
The 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.
The 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. 43.38 |
|
UK Pound |
1 |
Rs. 81.34 |
|
Euro |
1 |
Rs. 64.55 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
9 |
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--LEVERAGE |
1~10 |
9 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
68 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|