MIRA INFORM REPORT
|
Report Date : |
25.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DODHIA TECHNO ENGINEERING PRIVATE LIMITED |
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Registered Office : |
69 / 3, Pervin Mansion, United Jain Students Home Road, Sion (West),
Mumbai 400 022, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
15-10-1996 |
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Com. Reg. No.: |
11-103283 |
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CIN No.: [Company
Identification No.] |
U28112MH1996PTC103283 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD09973F |
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PAN No.: [Permanent
Account No.] |
AAACD4102H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of a variety of Turnkey Plants and Machinery |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 230000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established engineering company. It is family
controlled and enjoys factorable reputation in the market. Trade relations are
fair. Financial position is good. Payments are usually correct and as per
commitment. The company can be considered good for normal business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Dhimal |
|
Designation : |
Manager |
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Date : |
21.07.2008 |
LOCATIONS
|
Registered Office : |
69 / 3, Pervin Mansion, United Jain Students Home Road, Sion (West),
Mumbai 400 022, Maharashtra, India |
|
Tel. No.: |
91-22-24074269 / 24030034 / 66662111 |
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Mobile No.: |
91-9833227500 / 91-9833227501 |
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Fax No.: |
91-22-24082792 / 24077491 |
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E-Mail : |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
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Factory : |
House No. 502, Hahnal Anjur Phta Conner, Thane Vhiwan, Bhiwandi |
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Area : |
20000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Amritlal Ranmal Dodhia |
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Designation : |
Director |
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Address : |
69 / 10, Pervin Mansion, Road No. 25 – C, Sion (West), Mumbai 400 022,
Maharashtra, India |
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Date of Birth/Age : |
26.03.1931 |
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Qualification : |
SSC |
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Date of Appointment : |
15.10.1996 |
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Name : |
Mr. Rasik Amritlal Dodhia |
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Designation : |
Director |
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Address : |
253, Ashish, Near Manav Seva Sangh, Sion (West), Mumbai 400 022,
Maharashtra, India |
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Date of Birth/Age : |
16.10.1954 |
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Qualification : |
B.Com. |
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Date of Appointment : |
15.10.1996 |
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|
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Name : |
Mr. Ashok Amritlal Dodhia |
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Designation : |
Kashima Co-Op Hsg. Society, 3rd Floor, Flat No. 9,
Manibaug, Naupada, Thane (West), 400 602, Maharashtra, India |
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Address : |
11.01.1957 |
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Qualification : |
LTC (Textile Chemical) |
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Date of Appointment : |
15.10.1996 |
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Name : |
Mr. Bipin Amritlal Dodhia |
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Designation : |
Director |
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Address : |
69 / 10, Pervin Mansion, Road No. 25 – C, Sion (West), Mumbai 400 022,
Maharashtra, India |
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Date of Birth/Age : |
02.01.1958 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.10.1996 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 28.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Amritlal Ranmal Dodhia |
|
420430 |
|
Mr. Rasik Amritlal Dodhia |
|
420460 |
|
Mr. Ashok Amritlal Dodhia |
|
420460 |
|
Mr. Bipin Amritlal Dodhia |
|
420430 |
|
Mrs. Muktaben Ranmal Dodhia |
|
45460 |
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Mrs. Saroj Rasik Dodhia |
|
45460 |
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Mrs. Nirmala Ashok Dodhia |
|
45460 |
|
Mrs. Pragna Bipin Dodhia |
|
45460 |
|
Mast. Dhiman Rasik Dodhia |
|
45460 |
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Mast. Nayan Ashok Dodhia |
|
45460 |
|
Mast. Karan Bipin Dodhia |
|
45460 |
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Total |
|
2000000 |
Equity share breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of a variety of Turnkey Plants and Machinery |
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Exports : |
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Products : |
· Plastic Process · Food and Beverage Processing plants |
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Countries : |
·
Congo ·
Mali ·
Mauritania ·
UK ·
Nepal ·
Sri Lanka ·
Maldives ·
Kenya ·
Uganda ·
Tanzania ·
Mozambique ·
Mauritius ·
Ethiopia ·
Sudan ·
Madagascar ·
Germany ·
Japan ·
USA ·
Nigeria ·
Malawi ·
Oman · Saudi ArabiaUAE. · Asia · Europe · Africa |
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Imports : |
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Products : |
Spare Part Components |
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Countries : |
Europe Countries |
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Terms : |
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Selling : |
L/C and Credit (30 days) – Advance Payments |
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Purchasing : |
L/C and Credit (30 days / 60 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
115 (In Office 15 and In Factory 100) |
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Bankers : |
State Bank of India Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai - 400 005, Maharashtra, India |
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Facilities : |
Packing Credit – Rs.55.000 millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
·
Ramesh D Ajmera Chartered Accountants Address : 263 – A, Mehta
Building, 2nd Foor, Room No. 50, Lakhamshi Napoo Road, Matunga
(CR), Mumbai 400 019, Maharashtra, India ·
Haresh V Kagrana Chartered Accountants Address : 1, Milan Saraswati Road, Santacruz (W), Mumbai – 400 054, Maharashtra,
India ·
Khagrana and Company Chartered Accountants Address : Santacruz |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
35.000 |
25.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.752 |
11.363 |
8.415 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.752 |
36.363 |
28.415 |
|
|
LOAN FUNDS |
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|
|
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1] Secured Loans |
40.506 |
42.143 |
20.000 |
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2] Unsecured Loans |
2.139 |
1.327 |
5.893 |
|
|
TOTAL BORROWING |
42.645 |
43.470 |
25.893 |
|
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DEFERRED TAX LIABILITIES |
0.792 |
0.792 |
0.000 |
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TOTAL |
90.189 |
80.625 |
54.308 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.349 |
10.269 |
9.414 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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INVESTMENT |
2.119 |
0.001 |
0.002 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
119.753
|
55.772
|
44.161 |
|
|
Sundry Debtors |
0.483
|
9.314
|
4.343 |
|
|
Cash & Bank Balances |
5.862
|
1.059
|
0.548 |
|
|
Other Current Assets |
2.530
|
1.649
|
8.662 |
|
|
Loans & Advances |
32.727
|
21.409
|
0.072 |
|
Total
Current Assets |
161.355
|
89.203 |
57.786 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
84.579
|
19.017
|
12.440 |
|
|
Provisions |
0.357
|
0.261
|
0.798 |
|
Total
Current Liabilities |
84.936
|
19.278 |
13.238 |
|
|
Net Current Assets |
76.419
|
69.925
|
44.548 |
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.302 |
0.430 |
0.344 |
|
|
|
|
|
|
|
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TOTAL |
90.189 |
80.625 |
54.305 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
50.763 |
29.501 |
50.154 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
50.763 |
29.501 |
50.154 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
10.390 |
2.948 |
3.034 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
10.390 |
2.948 |
3.034 |
|
|
|
|
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Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
1.205 |
0.666 |
0.000 |
|
Total Earnings |
1.205 |
0.666 |
0.000 |
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|
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Imports : |
|
|
|
|
|
|
Raw Materials |
4.327 |
1.821 |
0.000 |
|
Total Imports |
4.327 |
1.821 |
0.000 |
|
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|
|
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|
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Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
27.903 |
18.140 |
0.000 |
|
|
Administrative Expenses |
8.073 |
5.068 |
0.000 |
|
|
Interest |
3.807 |
2.828 |
1.597 |
|
|
Depreciation & Amortization |
0.590 |
0.517 |
0.470 |
|
|
Other Expenditure |
0.000 |
0.000 |
45.053 |
|
Total Expenditure |
40.373 |
26.553 |
47.120 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
20.47
|
9.99 |
6.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.47
|
9.99 |
6.05 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.02
|
2.96 |
4.51 |
|
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.08 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.73
|
1.73 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
4.63 |
4.37 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Hydro Water wall Limited – Kenya
·
Congo Tools Congo – Africa
·
Hydro Water Limited
Form No.8
|
Corporation identity number or foreign company registrations number of the company |
U28112MH1996PTC103283 |
|
Name of the company |
DODHIA TECHNO ENGINEERING PRIVATE LIMITED |
|
Address |
69 / 3, Pervin Mansion, United Jain Students Home Road, Sion (West), Mumbai
- 400 022, Maharashtra, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
· Book Debts · Movable Property (not being pledge), · Floating charge |
|
Particular of the charge holder |
State Bank of India Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai 400 005, Maharashtra, India |
|
Nature or description of the instrument creating charge |
Supplemental agreement of Hypothecation of Goods and Assets for increase in the overall limit |
|
Date of the instrument creating charge |
04.11.2006 |
|
Amount Secure by the charge |
Rs.55.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
· Rate of Interest: As prescribed by the from time to time. · Terms of Repayment: On Demand · Margin: As determined by the Bank from time to time · Extent and operation of the charge: First charge |
|
Particulars of the Property charged |
All present and future goods, book – debts and all other movable assets including documents of title to goods, outstanding monies, receivables, claims, bills, invoices, documents, contracts, insurance policies, guarantees, engagements, securities, investments, rights and machineries belonging to the company or under control of the company wherever lying, stored and kept including all such goods and movable assets in course of transit / shipment / delivery. |
|
Particulars of present modification |
Additional credit facilities of Rs.31.000 millions granted. Hence, amount of charge increased from Rs.24.000 millions to Rs.55.000 millions |
As per web
details:
About Them
Subject made its mark in 1996 as
Project designing, Engineering and a manufacturing company. As manufacturers,
exporters and importers, they manufacture a variety of plants and machinery under the grand vision of their company head.
Starting its operation first in 1953 as a small trading unit in textiles, they
have indeed come a long way. They are also providing turnkey plants as well as
products to several developing countries. Their philosophy is based on close
contact, trust and personal service to meet customer needs.
Their export markets
They have developed a new product line based on innovation and advanced
manufacturing know-how techniques. A reason why their export markets stretch to
countries like Congo, Mali, Mauritania,
UK, Nepal, Sri Lanka, Maldives, Kenya, Uganda, Tanzania, Mozambique, Mauritius,
Ethiopia, Sudan, Madagascar, Germany, Japan, USA, Nigeria, Malawi, Oman, Saudi
Arabia, UAE. Their export percentage today stands at a commendable 100%.
Their products
They manufacture a variety of turnkey plants and machinery which include:
|
Alcoholic Drink
Plant |
Corrugated Box
Plant |
HDPE/PVC Pipe
Plant |
PET Disc Forming
Plant |
Soap Detergent
Plant |
|
Biscuit Making
Plant |
Dairy Milk Plant |
HM/HDPE Bag Plant |
PET Jar Plant |
Synthetic Resin
Plant |
|
Blow Moulding
Plant |
DM Water Plant |
Injection Moulding
Plant |
PET Preform Plants |
Toffee Candy Plant |
|
Bread Making Plant |
Exercise Note Book
Plant |
Liquid Soap Plant |
Plastic Recycling
Plant |
Toilet Soap Plant |
|
Bubble Gum Plant |
Flavored Water
Plant |
Mineral Water
Plant |
Rotational
Moulding Plant |
Tyre Retreading
Plant |
|
Carbonated Drink
Plant |
Fruit Juice Plant |
PET Bottle Plants |
Shampoo Plant |
Waste Oil Recovery
Plant |
Their quality
As manufacturers, exporters and importers, they have adopted one of the best quality control mechanisms utilized in today’s world. A host of processes are implemented by them to meet an expected level of quality from their customers. These include sustained support systems by their R&D departments, posted at each of their manufacturing units.
Their infrastructure
Subject has invested a huge
amount of 50,000 USD on the
manufacturing equipment alone. It speaks volumes about the kind of efforts they
make towards the betterment of their products like plants and machinery. As
manufacturers, they ensure excellent standards of their infrastructure. This is
done by regularly renewing the facilities on the lines of international
management system. The technical
refinement of their experienced
staff completes the picture of quality production from them.
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 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.41.96 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.65.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
56 |
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 |
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