MIRA
INFORM REPORT
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Report Date : |
19.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIKSHA SPRINGS UDYOG |
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Registered Office : |
D – 24, Sector 6, Noida – 201301, 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 : |
1990 |
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PAN No.: [Permanent
Account No.] |
AAFP0580Q |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers, Exporters, Traders and Importers of Tension Springs,
Wire Springs and Precision Springs. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 13000 |
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Status : |
Satisfactory |
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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 concern having satisfactory
track records. Proprietor is reported
as experienced and respectable businessman.
His trade relations are fair.
Business is active. Payments are reported as usually correct and as
per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
D – 24, Sector 6, Noida – 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-23241480 |
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Mobile No.: |
91-9212731939 / 940 / 9811141932 |
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Fax No.: |
91-120-23937978 / 23065356 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rakesh Kumar Aggarwal |
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Designation : |
Sole Proprietor |
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Address : |
4/18, B 97, Old Kanti Nagar, Krishna Nagar, Delhi – 110051, India |
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Date of Birth/Age : |
51 years |
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Qualification : |
Graduate |
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Experience : |
22 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters, Traders and Importers of Tension Springs,
Wire Springs and Precision Springs. |
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Products : |
Ø Tension Springs Ø Wire Springs Ø Precision
Springs Ø Torsion &
Double Torsion Springs Ø Coiled Spring
[Tension, Compression & Torsion] Ø Wire Spring [in
Steel, Stainless Steel, Bronze, Alumi Unplated type] |
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Exports : |
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Product : |
Springs |
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Countries : |
U.S.A., U.K., Germany, Spain and Indonesia |
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Terms : |
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Selling : |
L/C, Cash, Sight and Credit [30 days] |
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Purchasing : |
L/C, Sight Against Documents, Cash and Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
Local and Foreigners, Retailers and End Users |
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No. of Employees : |
40 |
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Bankers : |
Oriental Bank of Commerce A – 135, Sector 27, Noida, Uttar Pradesh |
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Facilities : |
Credit Limit : Rs. 1.800 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mahesh & Company Chartered Accountants |
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Address : |
Shadra, Delhi – 110032, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.499 millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.499 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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29.500 |
25.600 |
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Net Profit |
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2.950 |
2.720 |
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.499 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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1.787 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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3.286 |
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LOAN FUNDS |
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1] Secured Loans |
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4.774 |
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2] Unsecured Loans |
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0.250 |
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TOTAL BORROWING |
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5.024 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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8.310 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.709 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.796 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.743 |
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Sundry Debtors |
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6.054 |
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Cash & Bank Balances |
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0.414 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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2.081 |
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Total
Current Assets |
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9.292 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.330 |
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Provisions |
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7.157 |
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Total
Current Liabilities |
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7.487 |
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Net Current Assets |
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1.805 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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8.310 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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31.062 |
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Other Income |
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0.012 |
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Total Income |
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31.074 |
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Profit/(Loss) Before Tax |
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0.519 |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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0.519 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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1.67 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.67 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.46 |
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Return on Investment (ROI) (PBT/Networth) |
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0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.81 |
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Current Ratio (Current Asset/Current Liability) |
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1.24 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
Ø
Minda Industries Limited & Group Companies
Ø
Secure Meters Limited, Udaipur
Ø
VSL Technology Limited, Faridabad
Ø
Micron Instruments, Chandigarh
Ø
Atlas Cycle Industries Limited, Atlas Nagar, Atlas Road
Ø
DIJM Limited
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IST Limited
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Lumax Filter Private Limited
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Mindarika Limited
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Minda Corporation Limited, Noida and Pune
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Mothersons Sumi Systems Limited
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Pavna Zadi Security System Limited
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Polar Industries Limited
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VXL Technologies Limited
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Sandeep Meatl Craft
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J. P. Autoplast, C – 93, Sec- 8, Noida
Ø
Switch Masters Limited, Indonesia
Ø
Sharda Motors
Ø
P. T. Enterprises
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.27 |
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UK Pound |
1 |
Rs.77.33 |
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Euro |
1 |
Rs.57.51 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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