MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA ENERGY SYSTEMS [INDIA] PRIVATE LIMITED |
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Registered Office : |
34 Udyog Vihar, Phase IV, Gurgaon 110016, Haryana |
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Country : |
India |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14.11.1996 |
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Com. Reg. No.: |
034410 |
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CIN No.: [Company
Identification No.] |
U32308HR1996PTC034410 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06454A |
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PAN No.: [Permanent
Account No.] |
AAACA8385P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Electrical Transformer, Rectifier, Static Converters |
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 220000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as usually correct
and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
34 Udyog Vihar, Phase IV, Gurgaon 110016, Haryana, India |
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Tel. No.: |
91-124-4169040 |
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Fax No.: |
91-124-4169045 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No. 27-31, Sector 34, EHTP, Gurgaon 122001, Haryana, India |
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Tel. No.: |
91-124-4169040 |
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Fax No.: |
91-124-4036045 |
DIRECTORS
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Name : |
Mr. Sanjeev Taneja |
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Designation : |
Director |
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Address : |
A – 89, Meera Bagh, Paschim Vihar, Delhi 110087, India |
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Name : |
Mr. Beau Yu |
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Designation : |
Director |
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Address : |
99/250, Nouvelle Condominium, Bangna Road, Bangchalong, Bangpree,
Samutprakarn 10540, Thailand |
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Date of Appointment : |
03.02.2005 |
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Name : |
Mr. Dalip Sharma |
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Designation : |
Director |
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Address : |
2nd floor, 2923 A, Block C, Sushant Lok 1, Gurgaon,
Haryana, India |
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Name : |
Mr. Henry Shieh |
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Designation : |
Chairman |
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Name : |
Mr. Stronger Wang |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Dhiroj K. Barad |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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DET International Holding Limited |
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4047601 |
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NG Kong Meng |
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1 |
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Total |
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4047602 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Foreign Holdings |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Electrical Transformer, Rectifier, Static Converters |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Ø Standard
Chartered Bank Ø Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. P. Puri and Company Chartered Accountants |
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Address : |
4/18, Asaf Ali Road, New Delhi 110002, India |
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Tel. No.: |
91-11-23274888 / 2377410 |
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Fax No.: |
91-11-2327280 |
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E-Mail : |
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Holding Company : |
DET International Holding Limited |
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Ultimate Holding Company: |
Delta Electronics [Thailand] Public Company Limited |
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Under Common Control : |
Delta Energy System [Switzerland] AG Delta Energy System [Germany] Delta Energy System [Solvakia] DET Logistics USA Copr Newton Power Limited DET Video Technology Limited Delta Electronics Europe Limited Delta Energy Systems [Czech Republic] Delta Energy Systems [ Finland] Oy Delta Energy Systems [France] SA Delta Energy Systems [Italy] SRL Delta Energy Systems [ Romania] SRL Delta Energy Systems [Sweden] AB Delta Energy Systems [Spain] SL Delta Energy Systems [Arizona] Inc. Delta Energy Systems [Brasil] S.A. Delta Energy Systems [Poland] S.A. Delta Energy Systems LLC Delta Energy Systems [Guangzhou] Limited Delta Energy Systems [ Curitiba] Delta Green [Tianjin] Industries Company Limited Huada Holding Company Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4450000 |
Equity Shares |
Rs. 10/- each |
Rs. 44.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4047602 |
Equity Shares |
Rs. 10/-
each |
Rs. 40.476
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.12.2006 [9 Months] |
31.03.2006 [12 Months] |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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40.476 |
40.476 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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17.013 |
2.462 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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57.489 |
42.938 |
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LOAN FUNDS |
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1] Secured Loans |
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0.906 |
2.211 |
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2] Unsecured Loans |
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659.723 |
412.923 |
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TOTAL BORROWING |
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660.629 |
415.134 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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718.118 |
458.072 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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57.670 |
53.116 |
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Capital work-in-progress |
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0.145 |
12.899 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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37.399 |
31.873 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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238.788 |
176.892 |
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Sundry Debtors |
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639.563 |
466.552 |
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Cash & Bank Balances |
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3.108 |
42.243 |
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Other Current Assets |
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15.329 |
1.892 |
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Loans & Advances |
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78.444 |
68.756 |
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Total
Current Assets |
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975.232 |
756.335 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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336.797 |
383.758 |
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Provisions |
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15.531 |
12.393 |
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Total
Current Liabilities |
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352.328 |
396.151 |
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Net Current Assets |
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622.904 |
360.184 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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718.118 |
458.072 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.12.2006 [9 Months] |
31.03.2006 [12 Months] |
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Sales
Turnover [ including other income] |
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1471.466 |
1182.005 |
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Total Income |
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1471.466 |
1182.005 |
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Profit/(Loss) Before Tax |
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18.565 |
25.098 |
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Provision for Taxation |
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1.552 |
[1.078] |
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Profit/(Loss) After Tax |
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17.013 |
26.176 |
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Earnings in Foreign Currency : |
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123.509 |
151.661 |
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Total Imports |
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739.674 |
528.504 |
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Expenditures : |
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Interest |
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32.293 |
24.125 |
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Depreciation & Amortization |
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33.306 |
11.382 |
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Other Expenditure |
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1387.302 |
1121.400 |
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Total Expenditure |
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1452.901 |
1156.907 |
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KEY RATIOS
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PARTICULARS |
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31.12.2006 [9 Months] |
31.03.2006 [12 Months] |
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PAT / Total
Income |
(%) |
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1.15 |
2.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.12 |
2.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.79 |
3.10 |
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Return on Investment (ROI) (PBT/Networth) |
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0.32 |
0.58 |
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Debt Equity Ratio (Total Liability/Networth) |
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17.62 |
18.89 |
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Current Ratio (Current Asset/Current Liability) |
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2.76 |
1.90 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from DLF Center, Sansad Marg, New Delhi to 34 Udyog Vihar, Phase IV, Gurgaon, Haryana with effect from 06.12.1999.
AS PER WEBSITE
DETAILS:
PROFILE:
Delta India Group, is a part of 4.2 billion USD
Delta Group. Delta India Group is a leading world class provider of Power
Management Solutions (World No1 in switching power supplies), IT, Telecom,
consumer electronics components, LCD TV's, projectors, automobile components,
AC-DC drives for process industry, Networking and wireless solution.
Operating in India
since 1992, Delta India Group is
responsible for developing business in South Asian Region and is also
recognized as the “Centre for technical Excellence” for South Asia. Delta
offers custom designed Power solutions. These solutions are designed varied
applications foremost being the growing telecom applications. These
state-of-the-art customized solutions are backed by a reliable and efficient
service support. Delta India Group has impressive installation base with
regional support centers all over India and SAARC region. Delta India Group has
been awarded the ISO 9001:2000 and ISO 14001:2004 certifications by
Underwriters' Laboratories, USA, for Quality, Procedures, Environment
management and OHSAS 18001 1999.
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. 40.29 |
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UK Pound |
1 |
Rs. 79.98 |
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Euro |
1 |
Rs. 61.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
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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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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