MIRA
INFORM REPORT
|
Report Date : |
06.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MARS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
A-88, Street No- 2, Mahipalpur
Extension, New Delhi -110 037 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
18.05.1995 |
|
|
|
|
Com. Reg. No.: |
55-68307 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1995PTC068307 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RTKM01618B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of door locks, door handles, wholesale door
hardware, door fittings
and other builder hardware
products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed 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 normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajeev |
|
Designation : |
Export Import Department |
|
Date : |
05.12.2008 |
LOCATIONS
|
Registered Office : |
A-88,
Street No- 2, Mahipalpur Extension, New Delhi -110 037, India |
|
Tel. No.: |
91-11- 26783504 to
26783506 / 246138800 |
|
Fax No.: |
91-11- 26783500 /
46138880 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
87-90
Udyog Vihar, Phase - VI Gurgaon – 122 001, Haryana, India |
|
Tel. No.: |
91-124- 4033111 |
|
Fax No.: |
91-124-4033347 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Bhiwadi Industrial Estate,
Gurgaon, Haryana, India |
DIRECTORS
|
Name : |
Mr. Rajesh Kumar Bansal |
|
Designation : |
Managing Director |
|
Address : |
DJ-1/48, DLF Phase – II, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
27.07.1958 |
|
Qualification : |
B.Com, MBA |
|
Date of Appointment : |
18.05.1995 |
|
|
|
|
Name : |
Mr. Subhash Chand Bansal |
|
Designation : |
Managing Director |
|
Address : |
D-17, Green Park Main, New Delhi – 110016, India |
|
Date of Birth/Age : |
11.11.1956 |
|
Qualification : |
B.Com, MBA |
|
Date of Appointment : |
18.05.1995 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Khurana |
|
Designation : |
General Manager, Marketing |
|
|
|
|
Name : |
Mr. Mohd. Ali Shikoh |
|
Designation : |
General Manager, Institution
Sales |
|
|
|
|
Name : |
Mr. Sukrit Bansal |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
A. K. Popli and Company |
|
Designation : |
Company Secretary |
|
Address : |
Off : 302, C- 2/4, Pragati Market, Ashok Vihar, Phase – II, Delhi –
110052, India Resi : A-10/29, MIG Flats, Sector – 18, Rohini, Delhi – 110085 |
|
Email : |
|
|
Tel No. : |
91-11-27431426 / 27418378 / 27852093 |
|
Mobile No. : |
91-9811834710 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
|
Names of Shareholders |
No. of Shares |
|
Rekha Bansal |
115200 |
|
Rajesh Kumar Bansal |
267600 |
|
Subhash Chand Bansal |
162600 |
|
Niren Bansal |
241600 |
|
Ashok Kumar Bansal |
104500 |
|
Ashok Minda |
335100 |
|
Sukrit Bansal |
372200 |
|
Subhash Chand Bansal - HUF |
87000 |
|
Saurabh Bansal |
138500 |
|
A K Bansal (HUF) |
90000 |
|
Asha Devi Bansal |
30600 |
|
Bimla Bansal |
64100 |
|
Taksay Bansal |
76000 |
|
Suraj Bhan Sharma and Sons – HUF |
4500 |
|
Ashok Minda – HUF |
57000 |
|
Savita Minda |
100 |
|
S. L. Minda and Sons HUF |
100 |
|
Akash Minda |
30500 |
|
Sarika Minda |
80000 |
|
Rajesh Marketing Services Limited |
90000 |
|
Sonakshi Bansal |
42000 |
|
|
|
|
Total |
2389200 |
List of Allotment (As on 30.06.2007)
|
Names of Allottees |
No. of Shares |
|
Dorset Kaba Security Systems Private Limited |
195000 |
|
|
|
|
Total |
195000 |
Equity share
breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
3.77 |
|
Directors of relatives of directors |
96.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of door locks, door handles, wholesale
door hardware, door fittings
and other builder hardware
products. |
|
|
|
|
Products: |
·
Brass Handles ·
Pull Handles ·
Stainless Steel Handles ·
Locks ·
Crystal Handles |
|
|
|
|
Exports: |
|
|
Countries: |
·
Middle East ·
Australia ·
South Africa ·
European Countries ·
Sri Lanka |
|
|
|
|
Imports: |
|
|
Products: |
Door locks, door handles, wholesale door hardware, door fittings and other builder hardware products. |
|
Countries: |
European Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit (30 days) – T/T |
|
|
|
|
Purchasing : |
Credit (60 days) – D/P |
PRODUCTION STATUS
|
Particulars |
Unit |
Actual
Production |
|
Locks, Handles, Door closer, Hinges |
Pieces |
705104 |
GENERAL
INFORMATION
|
Customers : |
·
End Users ·
ITC Hotels (Bangalore) ·
Ansals Hotels Limited (Delhi) ·
B.L. Kashyap & Sons Limited (Delhi) ·
C.P. Kukreja Arctitects (Delhi) ·
Coco Cola India Limited ·
Modi Xerox (Gurgaon) ·
Ansals Properties & Industries Limited ·
Tidel Park (Chennai) ·
Escorts Heart Institute & Research Center (Delhi) ·
Batra Hospitals (Delhi) ·
Radiant Fire Doors Limited ·
Larsen & Turbo (Chennai) ·
Fortis HealthCare Limited (Mohali) ·
Civil Services Society (Sanskriti School, Delhi) ·
Talathi N. Panthakey (Mumbai) ·
IBM India Limited ·
Statesman House (Delhi) ·
Ashoka Hotels (Delhi) ·
Jai Prakash Associates (Delhi, Shimla) ·
Omaxe Constructions (Gurgaon, Delhi) ·
NEI Properties Limited (Delhi) ·
Grand Hyatt (Delhi) ·
JMC Projects (Boroda) ·
Ranbaxy Speciality Clinics ·
Conwood (Mumbai) ·
Smithkline Beechan (Gurgaon) ·
DLF Universal Limited Gurgaon ·
Mitsui Kensetsu (i) P. Limited (Delhi) ·
Lokhandwala Constructions (Mumbai) ·
Flex India Limited (Noida) ·
Mitsubishi India Limited (Delhi) ·
British School (New Delhi) ·
Hotel Haw Plaza (New Delhi) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
200 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Oriental Bank of Commerce, Hauz Khas, New Delhi ·
Punjab
National Bank Ahimsa Bhavan, New Rajinder Nagar, New Delhi – 110 060, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Note ·
Vehicle Loan is secured by exclusive charge on specific equipment and unconditional
and irrevocable personal guarantee of Managing Director. ·
Working Capital Loan from bank is secured by hypothecation of stocks
of raw materials, stock-in-process, finished goods stores and spares and
receivables and guaranteed by two directors of the company. ·
Deferred payment of sales tax is secured by way of second charge on
fixed assets including Plant and Machinery (both present and future) situated
at Plot No. 88-90, Udyog Vihar, Phase VI, Gurgaon (Haryana) |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Saria Gupta and Company Chartered Accountants |
|
Address : |
10174/1A, Gurdwara Road, Karol Bagh, Delhi – 110 005, India |
|
Tel No.: |
91-11-25733774 / 25733775 / 28753775 / 28753774 |
|
|
|
|
Associates/Subsidiaries
: |
·
Mars Industries Private Limited ·
Dorset Kaba Security Systems Private Limited ·
Mod Tech Industries |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2389200 |
Equity Shares |
Rs.10/- each |
Rs.23.892
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
23.892 |
23.892 |
14.906 |
|
|
2] Share Application Money |
0.000 |
0.000 |
8.986 |
|
|
3] Reserves & Surplus |
9.082 |
5.947 |
4.903 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.974 |
29.839 |
28.795 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32.659 |
28.860 |
11.811 |
|
|
2] Unsecured Loans |
73.689 |
43.822 |
33.077 |
|
|
TOTAL BORROWING |
106.348 |
72.682 |
44.888 |
|
|
DEFERRED TAX LIABILITIES |
1.064 |
1.342 |
1.210 |
|
|
|
|
|
|
|
|
TOTAL |
140.386 |
103.863 |
74.893 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.476 |
45.761 |
39.175 |
|
|
Capital work-in-progress |
7.505 |
4.985 |
1.780 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.733
|
19.670 |
12.854 |
|
|
Sundry Debtors |
72.572
|
57.555 |
30.197 |
|
|
Cash & Bank Balances |
6.639
|
4.054 |
11.440 |
|
|
Other Current Assets |
0.269
|
0.226 |
0.429 |
|
|
Loans & Advances |
15.747
|
7.278 |
4.791 |
|
Total
Current Assets |
120.960
|
88.783 |
59.711 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
36.736
|
34.045 |
25.143 |
|
|
Provisions |
1.819
|
1.621 |
0.630 |
|
Total
Current Liabilities |
38.555
|
35.666 |
25.773 |
|
|
Net Current Assets |
82.405
|
53.117 |
33.938 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
140.386 |
103.863 |
74.893 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
254.618 |
198.671 |
148.715 |
|
|
Other Income |
2.417 |
1.794 |
0.000 |
|
|
Total Income |
257.035 |
200.465 |
148.715 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4.586 |
2.817 |
2.762 |
|
|
Provision for Taxation |
1.452 |
1.756 |
0.961 |
|
|
Profit/(Loss) After Tax |
3.134 |
1.061 |
1.801 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
21.604 |
20.116 |
NA |
|
|
Export of Goods |
20.025 |
20.552 |
NA |
|
Total Earnings |
41.629 |
40.668 |
NA |
|
|
|
|
|
|
|
|
Imports : |
13.578 |
11.848 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
243.550 |
194.316 |
|
|
|
Increase/(Decrease) in Finished Goods |
(3.727) |
(5.915) |
|
|
|
Interest |
6.736 |
4.591 |
|
|
|
Depreciation & Amortization |
5.890 |
4.656 |
|
|
Total Expenditure |
252.449 |
197.648 |
145.953 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.22 |
0.53 |
1.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.80 |
1.42 |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.68 |
2.08 |
2.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.39
|
3.63 |
2.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14
|
2.49 |
2.32 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from H-6, Ahauz
Khas, New Delhi – 110016, India to the present address w.e.f. 21.02.2007.
Trade References
·
Ranbaxy
·
Lokhandwala Constructions
·
Mitsubishi India Limited
Bankers Charges
Report as per Registry
|
Name of the company |
MARS INDUSTRIES
PRIVATE LIMITED |
|
Presented By |
Oriental Bank of
Commerce, Hauz Khas, New Delhi |
|
1) Date and description of instrument creating the change |
Agreement for
hypothecation of assets dated 09.08.2004 registered on 31.08.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge over
entire fixed assets of the company plant and machinery and other fixed
assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest – 1 %
p.a. over the PLR with a minimum of 12 % p.a. with monthly rest. 2 % Penal
Interest in case of default. |
|
5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of Commerce, Hauz Khas, New Delhi |
|
6) Date and brief description of instrument modifying the charge |
09.11.2005
agreement of hypothecation for Hypothecation of assets |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Limit increased
from Rs. 11.000 Millions to Rs. 18.000 Millions |
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U74899DL1995PTC068307 |
|
Name of the
company |
MARS INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
A-88,
Road No- 2, Mahipalpur Extension, New Delhi -110 037 (India) |
|
Type of charge |
·
Immovable
Property ·
Book Debts ·
Movable
Property |
|
Particular of
charge holder |
Punjab National
Bank Ahimsa Bhavan,
New Rajinder Nagar, New Delhi – 110060, India |
|
Nature of
description of the instrument creating or modifying the charge |
·
Agreement
for inland documentary credit ·
Deed of
hypothecation to secure LC on DA basis ·
Term loan
agreement ·
General
counter indemnity ·
Deed of hypothecation
of assets ·
Hypothecation
deed to secure cash credit facility |
|
Date of
instrument Creating the charge |
24.04.2007 |
|
Amount secured by
the charge |
Rs. 68.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest : LC DA / DP basis
[Rs 1.500 Millions] - @BPLR per annuam or such rate as prescribed by the bank
ILC Rs 1.500
Millions – Commission Basis Term Loan Rs. 36.000
Millions @ BPLR 50 % + Term premia 0.50 p.a. presently 13 % p.a. Cash credit
facility Rs. 21.000 Millions - @ 12.5 % p.a. Cash Credit
facility Rs. 8.000 Millions - @ 12.5
% p.a. Term of repayment : Term loan Rs.
36.000 Millions Loan is to be repaid in 84 monthly installments of Rs. 0.429
Millions first installment to commence from October 2007. LC DA / DP basis
[Rs 1.500 Millions] – On Demand ILC Rs 1.500
Millions – On Demand Cash credit
facility Rs. 21.000 Millions – On Demand Cash Credit facility
Rs. 8.000 Millions – On Demand Margin Stocks 25 % Book Debts 40 % Extent and operation of the charge – 100 %
|
|
Short particulars
of the property charged |
·
Goods and
documents to the title of goods ·
Goods / assets
represented by documents covered under letter of credit raw materials, stores
and spares and capital goods ·
Land and
building at Khasra No. 756, M No. 125, Village Bhora Kalan, Farukh Nagar,
Gurgaon and Plot No. 87-88, Udyog Vihar IV, Gurgaon Equipment / Machinery and
other fixed assets purchased and to be purchased ·
Stock and
book debts. |
Fixed Assets
·
Air Conditioner
·
Air Cooler
·
Bycycle
·
Car Balano – DL 9CN3054
·
Car Honda Accord 6354
·
Car Indica
·
Car Innova DL 3CAH 8888
·
Car Wagon R
·
Car – Glaxy Toyota
·
Car-Honda Accord 8888
·
Cell Phone
·
Computers
·
Cycle
·
Electrical Fittings
·
EPL Plant
·
ETP Plant
·
Factory Building
·
Fax Machine
·
Fire Extinguishers
·
Furniture and Fixtures
·
Land – Leasehold
·
Land at Bohra Kalan
·
Mahindra Pick Up
·
Mahindra Pick Up Champion
·
Motorcycle
·
Nickle Tank
·
Office Equipments
·
Photo Copier
·
Plant and Machinery
·
R and D Machines
·
Savior
·
Software
·
Tools and Implements
·
Utilities
·
Vehicle Auto
·
Water Cooler
·
Water Dispenser
·
Water Filter
Web Details
The Group
Established in the year 1995, Subject, has
already carved for itself, an enviable niche in the national as well as
international market under “Dorset” brand. Subject is an ISO 9001:9002
certified company.
Spurred by success and fired by the will to surpass, the Company strives
continuously towards achieving the mission of the company.
The group has its manufacturing facilities at Udyog Vihar, Phase 6, and
at Bhora Kalan (Binola Industrial Area), Gurgaon (Haryana) and two other
facilities at Sidcul Industrial area Haridwar (Uttranchal). The Corporate cum
Marketing office is situated at New Delhi.
The Customer Profile of the Dorset Group includes
·
Hospitality Industry
·
Super Speciality Hospitals
·
Mega Housing Projects
·
Leading Developers
·
Big corporate Houses, Hotels
·
Extensive Distribution through dealers and distributors network
Some of the prestigious customers list in India includes Hotel Grand
Hyatt, Max Health Care Hospitals, Honda Motors Ltd., ATS Infrastructure, Sahara
Group, DLF Laing O’ Rourke India Limited, Unitech realty Limited, Indraprastha
Hospitals, New Delhi and Mumbai Airport, Reliance Group, Bestech, Vatika,
Raheja Developers, Lokhandwala Builders, Matyas, Tidle Park, Delhi Metro Rail
Corporation, GMR Infrastructure Limited to name a few. The group Turnover is
400 million INR. Aided by an impressive dealer network spanning over 1000 in
numbers across the country, the company is able to supply its cost effective
and innovative product range, to a wide section of discerning buyers in India and
also exporting to the Middle East, Australia, South Africa and Europe and
working as OEM for some of the topmost global brands in the Industry.
Today we deal in all type of Door Handles and pull handles in various
metals, Door Locks, Door Closers, Floor Springs, Glass Fittings and other
builder hardware accessories. It has also spread its wings into specialized
Electronic Stand Alone Access Control and mechatronic Locking systems. Dorset
believes in keeping pace with the consumers taste for design and technology.
With its passion to become the market leader, the company has introduced the
latest collection of Sanitary fittings.
The group has
entered in a Joint Venture in April, 2007 with KABA of Switzerland to
manufacture and market all sorts of mechanical, mechatronic locks, high
security systems and and stand alone total access control systems.
Dorset Faucets has successfully launched its complete range of Sanitary and
bath fittings in September 2007.
Channel Sales
They as a manufacturers of Door Locks,
Handles and pull handles made of brass, zinc, aluminum and stainless steel,
Furniture Fittings, Door Closer, Floor Spring and Glass Fitting etc. Having its
own channel network represented by distributors and dealers network across the
country. Having a successful network of more than 1000 + channel partners
selling and representing the complete range of Dorset / Dorset Kaba range of
products.
Export
Exports
Having established
in the year 1995, An ISO 9001:2000 TUV certified company, Dorset has launched
its widest range of its products in the International market In both DORSET AND
VIVA brands in the year 2000. A Division was incorporated to cater the global
needs with a set of young dynamic, Experience and dedicated people who are
constantly working to have companies' presence and exposure in the
International markets. At present they are OEM suppliers to some of the major
brand of Europe, they are catering to the market of Europe, Gulf, Sri Lanka,
Africa And Part of North and South America.
Backed by world
class technology and driven by a dedicated team of dynamic professional in the
field of Marketing, Manufacturing, R and D and quality control. They have
always tried to bring in products of high quality standards with respect to the
international requirement forte.
At Dorset,
excellence is a way of life, evident is the quality and design work of art,
moreover product reliability, product testing and environment testing is an
integral part of manufacturing. They accord top priority to ensure global
market competitiveness and to enable the supply of cost effective innovative
range of product to the best of customer satisfaction.
Global experience
has given them global presence the product reaches over 100 customers all over
the Globe.
Press Release
Dorset Kaba LAUNCHES A NEW TECHNOLOGICAL REVOLUTION IN LOCKING DEVICES
Both Dorset and KABA after having entered in joint venture last year, at
a Press Conference here at Banglore unleased its first ever high technological
and most advanced and legendry range of high security contact less technology
based access control system manufactured indiginiously at state of the art
plant at Hardwar in UP under the technological agreement and support of Kaba,
Switzerland. The company is already manufacturing wide range of locking systems
including Mechanical locks and other modern locking devices and a unqiue range
of builders hardware,architectural hardware and stunning range of door fittings
with Swarovski crystals.
With booming real estate sector in the Country, the installation of
adequate security systems has become incidental to building activities and
therefore the joint venture is focusing largely on institutional and commercial
customers as well as high-end private house owners and OEM’s besides catering
to the requirements of a common man.
The Security
Systems market in the country is a potential of Rs.10000 millions industry
having multiplied four folds in the last five years. The need for security
systems is at an all time high across various segments like the Hotel Industry,
the Banking and Retail Sector, Research and Academic Establishments, SME’s,
Factories and residences. Dorset KABA Security Systems Private Limited intends
to carve a position of market leadership using innovative technology coupled
with one of the best-penetrated dealer networks available in the country.
Dorset Group of
companies has manufacturing facilities at multi locations and is engaged into
activities of architectural hardware, technologically advanced locking systems,
sanitary fittings and furniture fittings etc.
DORSET and Swiss
Company KABA form a venture to re-define Security
~Door Security
Systems in India to see an all-time high~
With the aim of
establishing a leadership position in the arena of door security systems in
India, Dorset has entered into a joint venture with Swiss Company KABA. This
first ever joint venture in the Indian builders hardware industry will
manufacture and distribute a wide range of mechatronic and electronic locks and
total access control systems under the brand name “Dorset KABA Security
Systems Private Limited”. KABA will have a financial participation of 49
per cent in the enterprise.
The joint venture
will set-up a new manufacturing facility in Uttaranchal with an total
initial project investment of Rs.200 millions in the first phase. The
enterprise will introduce mechatronic, electronic and mechanical security
access systems under Dorset KABA brand in the first phase.
Dorset KABA aims to provide
the most advanced technological array of locking systems to cater across all
segments of the market keeping security as the prime objective. Their range of products
will bring about a shift in usage from conventional mechanical locks to
mechatronic lock systems unavailable in India at present. Dorset KABA
will focus on institutional and commercial customers as well as on high-end
private clients and OEM’s.
“We are delighted
to be working with Dorset for our first venture in India and will contribute
our state-of-the-art technology and superior product range to this new
partnership. The joint venture aims to achieve a turnover of around CHF 6.0
million in the first year, with a profitability level usual for the sector,” says Gerhard
Wenger, Senior Vice President, Competence Centre Mechanic & Mechatronic,
KABA.
“Our aim is to
establish Dorset KABA as a leading provider of mechanical and mechatronic access
systems in India. Dorset provides the joint venture an excellent distribution
and service network in the subcontinent. Dorset also has a comprehensive
product portfolio, in-depth expertise in the production of mechanical access
systems and a keen understanding of the Indian market.” says, Mr.
Rajesh Bansal, Managing Director, Dorset, who is also the National
President of the Federation of Indian Hardware Manufacturers and Traders
Association ’
With the booming
real estate industry in India, the need for security systems is at an all time
high across various segments like the Hotel Industry, the Banking and Retail
Sector, Research and Academic Establishments, SME’s, Factories and residences.
Dorset KABA Security Systems intends to carve a position of market leadership
using innovative technology coupled with one of the best-penetrated dealer
networks available in the country.
Distributors
- Ahmedabad
- Bangalore
- Calcutta
- Cochin/Calicut
- Hyderabad
- Indore
- Mumbai
- Assam
Dealers
·
Delhi
·
Rest Of
India
·
Goa
Panjim
·
Maharashtra
Pune
Nagpur
·
Gujarat :
Ahmedabad
Surat
Baroda
·
Punjab
Jalandhar
Ludhiana
Chandigarh
Amritsar
·
Tamil Nadu
Chennai
Coimbatore
Erode
Madurai
Salem
Trichy
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.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|