MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
DECCAN TRADING CORPORATION |
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Registered Office : |
120, 1st Floor, Hoodi Apartments, Cunningham Road, Bangalore – 560 052, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1989 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Importer and Distributor of genuine spares for earth moving equipments. |
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 72000 |
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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 concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and condition. |
INFORMATION PARTED
BY
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Name : |
Mr. Rejan |
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Designation : |
DGM |
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Contact No.: |
91-9343126966 |
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Date : |
21.06.2008 |
LOCATIONS
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Registered Office : |
120, 1st Floor, Hoodi Apartments, Cunningham Road, Bangalore – 560 052, Karnataka, India |
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Tel. No.: |
91-80-22250857/ 22203028 / 32982857 |
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Mobile No.: |
91-9341218191, 9343250857, 9343126966 |
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Fax No.: |
91-80-22203219 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Rented |
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Head Office : |
120, 1st Floor, Hoodi Apartments, Cunningham Road, Bangalore – 560 052, Karnataka, India |
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Tel. No.: |
91-80-22250857/ 22203028 |
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Fax No.: |
91-80-22203219 |
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E-Mail : |
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Area : |
1000 sq. ft. |
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Location : |
Rented |
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Branches : |
Located at v Salem, Tamilnadu, India v Hospet Billary, Karnataka, India v Elkal – Bangalkot, Karnataka |
PARTNERS
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Name : |
Mr. R Durairaj |
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Designation : |
Managing Partner / Director |
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Name : |
Mrs. Latha Shekar |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Miss. Matilda Mary |
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Designation : |
Administration Manager |
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Name : |
Mr. Rajan |
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Designation : |
Marketing Manager |
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Name : |
Mr. Dhasrathan |
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Designation : |
Purchasing Manager |
BUSINESS DETAILS
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Line of Business : |
Importer and Distributor of genuine spares for earth
moving equipments |
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Products : |
v Excavators v Loaders v Dozers v Dumpers v Engines |
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Imports from: |
USA, UK, Korea |
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Terms : |
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Selling : |
Direct 60 days basis |
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Purchasing : |
Direct 90 days basis |
GENERAL
INFORMATION
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Suppliers : |
v Hitachi v Komatsu v Volvo v Daewoo v Cat v Poclain v JCB |
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Customers : |
v Alpha Enterprises, Bangalore v Minining Machines and Spares, Bangalore v MSP Earth Mover, Bangalore |
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No. of Employees : |
35 |
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Bankers : |
Indian Overseas Bank City Branch, Bangalore – 560 002, Karnataka, India |
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Facilities : |
Rs. 2.500 Millions |
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Auditors : |
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Name : |
Mr. K Chandrahasa Chartered Accountants |
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Address : |
Prakash Nagar, Bangalore – 560 021, Karnataka, India |
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Group Company : |
v GEM Group v GEM Granites, Bangalore v Kabini Mineras Private Limited, Bangalore v Gem Sugars Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 14.429 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 14.429 Millions |
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] Partners Capital |
14.429 |
13.570 |
13.011 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.429 |
13.570 |
13.011 |
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LOAN FUNDS |
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1] Secured Loans |
10.249 |
8.287 |
8.770 |
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2] Unsecured Loans |
0.671 |
0.550 |
0.650 |
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TOTAL BORROWING |
10.920 |
8.837 |
9.420 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.349 |
22.407 |
22.431 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.701 |
8.437 |
8.938 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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Miscellaneous Deposits and advance |
0.552 |
0.529 |
0.494 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
9.251
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5.870 |
3.423 |
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Sundry Debtors |
15.075
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14.672 |
18.893 |
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Cash & Bank Balances |
0.552
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0.676 |
0.572 |
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Other Current Assets |
0.509
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0.583 |
0.437 |
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Loans & Advances |
0.438
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0.371 |
0.190 |
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Total
Current Assets |
25.825
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22.172 |
23.515 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
10.209
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8.172 |
9.898 |
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Provisions |
0.520
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0.559 |
0.618 |
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Total
Current Liabilities |
10.729
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8.731 |
10.516 |
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Net Current Assets |
15.096
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13.441 |
12.999 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.349 |
22.407 |
22.431 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
33.480 |
24.585 |
27.901 |
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Other Income |
4.717 |
5.871 |
6.944 |
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Total Income |
38.197 |
30.456 |
34.845 |
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Profit/(Loss) Before Tax |
2.219 |
1.521 |
1.380 |
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Provision for Taxation |
1.234 |
0.957 |
0.514 |
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Profit/(Loss) After Tax |
0.985 |
0.564 |
0.866 |
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Expenditures : |
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Administrative Expenses |
6.501 |
6.072 |
6.449 |
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Consumption of stores and spares parts |
1.377 |
2.133 |
0.127 |
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Interest |
1.101 |
1.143 |
1.132 |
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Depreciation & Amortization |
0.682 |
0.562 |
1.047 |
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Other Expenditure |
26.317 |
19.025 |
24.710 |
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Total Expenditure |
35.978 |
28.935 |
33.465 |
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Expected Sales 2008 – Rs. 80.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.57
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1.85 |
2.48 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.80
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4.99 |
3.96 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.24
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4.96 |
4.25 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15
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0.11 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.50
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1.29 |
1.53 |
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Current Ratio (Current Asset/Current Liability) |
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2.40
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2.53 |
2.23 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
It is popularly known as DTC, is located since 1990 at Bangalore in South India. Subject makes available equipment maintenance along with spares and technical support, sustained by an excellent field – support team.
Subject provides pre-tested quality replacement parts for a wide range of earthmoving, mining and construction equipment. Most parts are available ex-stock at very competitive prices. An extensive communication network and dedicated customer service orientation ensure prompt and quality assured spares for Excavators, Loaders, Dozers, Cranes, Dumpers etc. Every popular model from Hitachi, Komatsu, Poclain, Terex, Samsung, Daewoo, Valvo and JCB and several others are supported by SUBJECT.
Replacement parts for all sub assemblies including consumables are sourced worldwide and reached to customers in the shortest possible time. Computerized inventory tracking and management, dedicated communication channels, a fleet of transport vehicles and on-field engineering support personnel reach requires spares along with relevant technical and application guidance to the user, often at site, in incredibly short delivery periods.
Subject reaches the southern states of Karnataka, Tamilnadu, Goa and Andhra Pradesh in India. In a pashed manner, their areas of operation have included several important mining centres in rest of India. In the last 10 years Subject is already established as the preferred source of spares throughout India.
Subject brings to the India as authorized distributors, leading undercarriage assembly and components from Italian manufacturer like SOREFA – ITM, Hydraulic Components from JIC – Korea, Engine parts from F. P. Diesel – USA, filtration systems from Donaldson – USA and many more reputed manufactures from all over the world.
Contacts
BANGALORE
Contact Person : Mr.R.Durairaj
Address : #120, First Floor, Hoodi Apts, Cunningham Road, Bangalore ,INDIA.
Email : sales@dtcindia.com , durairaj@dtcindia.com , info@dtcindia.com
Telephone : 91-80-2250857, 91-80-2203028
Fax : 91-80-2203219
Mobile : 98440-78960,98440-93857,98441-26966
SALEM
Contact Person : Mr.K.Kumar
Address : #5/249-A, Junction Main Road, Salem- 636004, Tamil Nadu.
Email : sales@dtcindia.com , info@dtcindia.com
Telephone : (0427) 445302
Fax : (0427) 447307
Mobile : 98427-45302
HOSPET
Contact Person : Mr.Mallappa
Address : #1051,3rd cross,100 Bed Hospital Road, M J Nagar,-Hospet -583203.
Email : sales@dtcindia.com , info@dtcindia.com
Telephone : (0839) 431554
Fax : (0839) 430859
ILKAL
Contact Person : Mr.Kanakaraj
Address : #5774,Godavari Building,Kulkarnipet, Near Anjaneya Temple, Ilkal -
587125, Bagalkot District
Email : sales@dtcindia.com , info@dtcindia.com
Telephone : (0835) 770920
Fax : (0835) 773320
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
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.82 |
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UK Pound |
1 |
Rs. 84.27 |
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Euro |
1 |
Rs. 66.62 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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
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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/normal. |
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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