MIRA
INFORM REPORT
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Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
DAYARAM CHEMICALS PRIVATE LIMITED |
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Registered Office : |
D-102, Krishna Nagari, Opposite Sony Mony, S. V. Road, Borivali
(West), Mumbai – 400092, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.02.2006 |
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Com. Reg. No.: |
159386 |
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CIN No.: [Company
Identification No.] |
U74220MH2006PTC159386 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD13495G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Chemicals Products. |
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 700 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and has taken over the running business of
Dayaram Chemicals, a sole Proprietory concern started in 1991. Trade relations
are fair. Business is active. Payments are reported as usually correct and as
per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Ms. Vidya |
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Date : |
04.07.2008 |
LOCATIONS
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Registered Office : |
D-102, Krishna Nagari, Opposite Sony Mony, S. V. Road, Borivali
(West), Mumbai – 400092, Maharashtra, India
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Tel. No.: |
91-22-28022548/ 56092548/ 49 |
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Fax No.: |
91-22-28022549 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.4801/ A-2, Gidc Estate, Ankleshwar – 393002, Gujarat, India |
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Tel. No.: |
91-2646-251499/ 221499 |
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Fax No.: |
91-2646-239905 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Magan Purshottambhai Bhadani |
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Designation : |
Director |
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Address : |
A/1702, Shanti Building, Neat to Club Aquaria, Devidas Lane, Borivali
(West), 400101, Maharashtra, India |
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Date of Birth/Age : |
04.05.1965 |
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Date of Appointment : |
01.02.2006 |
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Name : |
Mr. Suresh Purshottombhai Bhadani |
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Designation : |
Director |
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Address : |
A/1702, Shanti Building, Neat to Club Aquaria, Devidas Lane, Borivali
(West), 400101, Maharashtra, India |
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Date of Birth/Age : |
07.03.1971 |
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Date of Appointment : |
01.02.2006 |
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Name : |
Mr. Hasmukh Purshottombhai Bhadani |
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Designation : |
Director |
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Address : |
A/1702, Shanti Building, Neat to Club Aquaria, Devidas Lane, Borivali
(West), 400101, Maharashtra, India |
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Date of Birth/Age : |
01.06.1969 |
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Date of Appointment : |
01.02.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 17.01.2006)
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Names of Shareholders |
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No. of Shares |
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Mr. Magan Purshottambhai Bhadani |
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5000 |
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Mr. Suresh Purshottombhai Bhadani |
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5000 |
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Mr. Hasmukh Purshottombhai Bhadani |
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5000 |
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Total |
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15000 |
(As on 31.03.2006)
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Category |
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Percentage |
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Directors or relatives of directors |
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94.00 |
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Other top fifty shareholders (other than listed above) |
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6.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Chemicals Products. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Jayabhadra, Borivali, Mumbai, Maharashtra, India
Main Branch, Station Road, Ankleshwar – 393001, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J. V. Sanghvi and Associates Chartered Accountant |
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Address : |
210 Rajgore Chambers, 99 Surat Street, Masjid, Mumbai – 400009,
Maharashtra, India |
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Memberships: |
Ankleshwar Industries Associates |
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Associates/Subsidiaries : |
Dayaram Healthcare |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.150 |
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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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0.000 |
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4] (Accumulated Losses) |
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(0.003) |
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NETWORTH |
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0.147 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.147 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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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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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.057 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.027 |
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Total
Current Assets |
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0.084 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.008 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.008 |
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Net Current Assets |
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0.076 |
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MISCELLANEOUS EXPENSES |
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0.071 |
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TOTAL |
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0.147 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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NA |
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Other Income |
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NA |
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Total Income |
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NA |
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Profit/(Loss) Before Tax |
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(0.003) |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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(0.003) |
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Export Value |
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NA |
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Import Value |
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NA |
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Expenditures : |
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Other Expenditure |
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0.003 |
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Total Expenditure |
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0.003 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.57 |
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Return on Investment (ROI) (PBT/Networth) |
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0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.05 |
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Current Ratio (Current Asset/Current Liability) |
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10.50 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate
identity number of the company |
U74220MH2006PTC159386 |
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Name of the
company |
DAYARAM CHEMICALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
D-102, Krishna Nagari, Opposite Sony Mony, S. V. Road, Borivali (West),
Mumbai – 400092, Maharashtra, India |
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This form is for |
Creation of charge |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Main Branch, Station Road, Ankleshwar – 393001, Gujarat, India CIN : U99999MH1911PLC007676 Email : ank@bankofbaroda.com |
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Nature of
instrument creating charge |
Memorandum of
Entry |
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Date of
instrument Creating the charge |
25.01.2007 |
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Amount secured by
the charge |
Rs.100.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 0.75% below the
bank Benchmark PLR, i.e. 10.75% p.a. Terms Of
repayment: Renewable on
yearly basis Margin: 30% on stock of raw
materials, finished goods and work in process, 50% on Book Debts Extent and
Operation of the charge: CC-Hypothecation
of Stock and Book Debts = Rs.10.000 Millions |
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Particulars of
the property charged |
All the piece and
parcel of NA land known as Plot No.4801/A-2 in the Ankleshwar Industrial Area
consisting of Revenue Survey No. 367 Paiki, Situated within the Village
Limits of Piraman, Tal Ankleshwar, District Bharuch, together with all
buildings and structure standing thereon or to be erected hereafter and the
plant and machinery attached to the earth or permanently fastened to anytime
attached to the earth, both present and future. |
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Particulars of
the present modification |
NA |
Website Details:
Subject was
established in the year 1992, primarily as a Trading Company by Mr. Magan
Bhadani (B.E. Chemical) - an enterprising Chemical Engineering Graduate.
Through sheer dint of hard work and business acumen, the Company has attained
outstanding success in the Marketing of: Solvents; Drug Intermediates; Active
Pharmaceutical Ingredients and Speciality Products.
The Company has also established captive Manufacturing facilities at the GIDC
Industrial Estate, Ankleshwar and Gujarat, India under the name of “Dayaram Healthcare” to cater to the
Niche Products requirements of their reputed clientele.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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
|
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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