MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
DEEPAK HYDRAULICS INDIA PRIVATE LIMITED |
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Registered Office : |
A-27/3, Mayapuri Industrial Area,
Phase - II, (Near Community Centre), New Delhi – 110 064. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.11.1995 |
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Com. Reg. No.: |
55-74003 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC074003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD03785F |
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PAN No.: [Permanent
Account No.] |
AAACD5559N |
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Legal Form : |
Private Limited Liability Company.
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Line of Business : |
Manufacturer of superior quality scientific
and engineering equipments, Specialists in compression testing machines
and test machine parts, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Maximum Credit Limit : |
USD 3000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track. Directors
are reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vidya Sagar |
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Designation : |
Director |
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Contact No.: |
Mobile no.91-9810200980 |
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Date : |
12.07.2008 |
LOCATIONS
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Registered Office / Factory : |
A-27/3, Mayapuri Industrial
Area, Phase - II, (Near Community Centre), New Delhi – 110 064, India. |
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Tel. No.: |
91-11-28116038 / 25137758 |
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Mobile No.: |
91-9810200980 |
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Fax No.: |
91-11-28117758 |
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E-Mail : |
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Website : |
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Area : |
360 yards |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Vidya Sagar |
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Designation : |
Whole Time Director |
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Address : |
C – 216, Hari Nagar, New Delhi – 110 064, India |
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Date of Birth/Age : |
19.11.1971 |
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Qualification : |
Graduate |
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Date of Appointment : |
20.11.1995 |
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Name : |
Mr. Suresh Kumar |
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Designation : |
Whole Time Director |
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Address : |
C – 216, Hari Nagar, New Delhi
– 110 064, India |
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Date of Birth/Age : |
19.09.1963 |
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Qualification : |
HSC |
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Date of Appointment : |
20.11.1995 |
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Name : |
Ms. Narbada Devi |
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Designation : |
Director |
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Address : |
C – 216, Hari Nagar, New Delhi – 110
064, India |
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Date of Birth/Age : |
18.07.1946 |
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Qualification : |
HSC |
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Date of Appointment : |
20.11.1995 |
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Name : |
Mr. Banwari Lal Sharma |
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Designation : |
Managing Director |
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Address : |
C – 216, Hari Nagar, New Delhi
– 110 064, India |
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Date of Birth/Age : |
08.05.1941 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.04.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Pandey |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Mr. Vidya Sagar |
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22500 |
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Mr. Suresh Kumar |
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22500 |
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Ms. Narbada Devi |
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4800 |
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Mr. Banwari Lal Sharma |
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100 |
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Mr. Narayanan Sankara |
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100 |
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Total
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50000 |
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Equity Share
Break-up (As on 28.07.2007) |
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Percentage of
Holding |
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Directors or relatives of directors |
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99.80 |
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Other top fifty shareholders |
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0.20 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of superior quality scientific
and engineering equipments, Specialists in compression testing machines
and test machine parts, etc. |
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Products : |
· Scientific Equipments · Engineering Equipments · Compression Testing Machines |
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Exports : |
Exports through Distributors |
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Countries : |
Dubai, Nepal, Sri Lanka and Bangladesh |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit 30 days |
GENERAL INFORMATION
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Customers : |
Dealers |
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No. of Employees : |
15 |
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Bankers : |
· Syndicate Bank,
Mayapuri, New Delhi · ICICI Bank
Limited · Citi Bank · HDFC Bank,
Mayapuri Branch, New Delhi |
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Facilities : |
OD – Rs.4.000
millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. K. Gulati and Associates Chartered Accountants |
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Address : |
A – 3, Rajouri Garden, New Delhi – 110 027, India |
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Associates/Subsidiaries
: |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/-each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs. 10/-each |
Rs. 0.500 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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3] Reserves & Surplus |
0.088 |
0.089 |
0.108 |
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NETWORTH |
0.588 |
0.589 |
0.608 |
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LOAN FUNDS |
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1] Secured Loans |
2.401 |
1.993 |
1.877 |
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2] Unsecured Loans |
1.105 |
1.485 |
1.000 |
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TOTAL BORROWING |
3.506 |
3.478 |
2.877 |
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DEFERRED TAX LIABILITIES |
0.011 |
0.022 |
0.046 |
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TOTAL |
4.105 |
4.089 |
3.531 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.865 |
0.841 |
0.973 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.217
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2.855
|
2.379 |
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Sundry Debtors |
2.445
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0.789
|
2.172 |
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Cash & Bank Balances |
0.051
|
0.109
|
0.077 |
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Other Current Assets |
0.051
|
0.023
|
0.073 |
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Loans & Advances |
0.073
|
0.288
|
0.137 |
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Total
Current Assets |
4.837
|
4.064
|
4.838 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.553
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0.763
|
2.276 |
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Provisions |
0.044
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0.053
|
0.005 |
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Total
Current Liabilities |
1.597
|
0.816
|
2.281 |
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Net Current Assets |
3.240
|
3.248
|
2.557 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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TOTAL |
4.105 |
4.089 |
3.531 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 [Estimated] |
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Sales Turnover |
|
10.004 |
10.000 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
10.004 |
10.000 |
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Profit/(Loss) Before Tax |
|
0.011 |
NA |
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Provision for Taxation |
|
0.007 |
NA |
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Profit/(Loss) After Tax |
|
0.004 |
NA |
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Expenditures : |
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Cost of Production |
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NA |
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Office, Administrative and Selling
Expenses |
|
9.771 |
NA |
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Preliminary and Pre Operating Expenses |
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NA |
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Depreciation of Fixed Assets |
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NA |
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Other Expenditure |
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0.222 |
NA |
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Total Expenditure |
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9.993 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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0.04
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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0.11
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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0.22
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NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.02
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
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8.68
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7.29
|
8.48 |
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Current Ratio (Current Asset/Current Liability) |
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3.03
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4.98
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2.12 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed assets
- Machinery
- Generator
- Furniture and Fixture
- Scooter
- Air Conditioner
- Water Cooler
- Computer
- Communication Equipment
- Fan
- Inverter
- Cellular Phone
- Tata Indica
- Fire Extinguisher
- Cycle
- CCTV Camera
FORM 8
|
Name of the company |
DEEPAK
HYDRAULICS INDIA PRIVATE LIMITED |
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Presented By |
SYNDICATE BANK,
MAYAPURI, NEW DELHI |
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1) Date and description of instrument creating the change |
Hypothecation deed for goods and monies receivables etc. dated 30.10.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.000
Millions |
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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 |
Hypothecation of stocks of raw materials, semi finished and finished goods etc, now lying or hereafter stored at Company’s premises at F – 135, Mayapuri Industrial Area, Phase – II, New Delhi or at any other place including those in transit and all book debts, investments, deposits, outstanding, monies and receivables both present and future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure ODH limit of Rs. 1.000 Millions granted to the company. Interest is to be charged @ 3.50 % p.a. over PLR of the Bank with a minimum of 16.25 % p.a. with an overdue interest of 2% p.a. over and above the agreed rate to be charged in case of default or at such rate as may be specified by the Bank from time to time. Margin : 25 % or as may be stipulated by the Bank from time to time. Payable on Demand. |
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5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank, Mayapuri, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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Name of the company |
DEEPAK HYDRAULICS
INDIA PRIVATE LIMITED |
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Presented By |
SYNDICATE BANK,
MAYAPURI, NEW DELHI |
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1) Date and description of instrument creating the change |
Composite Hypothecation Agreement dated 10.12.2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.500 Millions |
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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 |
Hypothecation of stock of Scientific and Engineering Instruments – Compression Testing Machines now lying or hereafter stored at Company’s premises at A – 27/3, Mayapuri Industrial Area, phase – I, [Near Community Centre], New Delhi – 110064 or at any other place including those in transit and all the borrower’s present and future debts outstanding monies, receivables, claims bills etc . |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure all amounts payable under SOD limit of Rs. 1.500 Millions carrying interest @ PLR + 3 % p.a. or at such rate as may be specified by the Bank from time to time and all other interests, costs, charges, expenses etc. |
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5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank, Mayapuri, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
TRADE REFERENCES:
· Lawrence
and Mayo India Private Limited – Delhi, Head Office in Mumbai
· Test-Well
Instruments Company – Lajpat Nagar, Delhi
· Technical
and Scientific Sale - Mumbai
AS PER WEBSITE
Subject is a manufacturer of superior quality scientific and engineering equipments, Specialists in compression testing machines, etc. Their products are carefully designed and manufactured in the spirit of old world craftsmanship. To ensure the highest quality and durability, all parts are individually checked and inspected before they are manufactured.
Products
They are specialist manufacturers of compression materials testing machines. Their machines are designed for use in research and quality control to measure materials' strength and performance. Their product range is in 250 Kns to 5000 Kns. Available in Manually Operated, Electrically Operated and Digitally Operated.
·
Scientific Equipments
·
Engineering Equipments
·
Compression Testing Machines.
Quality
Their company's policy has ensured the best possible manpower, loyalty and the lowest velocity of movement resulting in consistent quality and production standard that match with those of international standards. Deepak Hydraulics (India) Pvt. Ltd. lays prime emphasis on quality of product as well as service. The company boasts of a well equipped machine shop and trained staff to manage the same. They are equipped with full fledged quality control systems and measuring instruments along with versatile machine shops. They are at the forefront in providing high quality, cost-efficient, simple-to-operate material testing systems for tension, compression and torsion testing.
Infrastructure
Operating from a state of the art premise, subject is a professionally managed organization, which has accepted the challenges of providing high quality sophisticated machinery systems and services. They have a fully computerized design section and possess their own equipments for testing and other kinds of non-destructive testing as required. They have a competent team consisting of highly qualified and experienced technical staff who can take full charge of supervision of erection and commissioning of any type and size of equipment.
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.43.17 |
|
UK Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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/normal. |
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 |
|