MIRA
INFORM REPORT
|
Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
D P WOODTECH PRIVATE LIMITED |
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Registered Office : |
58, Rani Jhansi Road, MM Road, Paharganj, New Delhi – 110055 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.09.1995 |
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Com. Reg. No.: |
55 - 072733 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC072733 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06493E |
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PAN No.: [Permanent
Account No.] |
AAACD2776M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Modular Kitchen, Home Furniture, Doors, Windows and Wardrobes. |
RATING &
COMMENTS
|
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 25748 |
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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 meeting its normal commitments
timeously. Trade relations are fair. The Company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Akhilesh Agarwal |
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Designation : |
Manager in Accounts |
LOCATIONS
|
Registered Office : |
58, Rani Jhansi Road, MM Road, Paharganj, New Delhi – 110055, India |
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Tel. No.: |
91-129-4005476, 2272078 |
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Fax No.: |
91-129-4105476 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq.ft |
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Location : |
Owned |
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Show Room and Factory : |
14/7, Delhi Mathura Road, Mewla Chowk, Faridabad – 121006, Haryana,
India |
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Tel. No.: |
91-129-2242165 |
DIRECTORS
|
Name : |
Mr. Dharam Pal Sharma |
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Designation : |
Director |
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Address : |
F – 48, Adarsh Nagar, Maierana Road, Faridabad – 121006, Haryana,
India |
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Date of Birth/Age : |
02.05.1956 |
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Date of Appointment : |
26.09.1995 |
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Name : |
Mrs. Vidya Devi |
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Designation : |
Director |
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Address : |
F – 48, Adarsh Nagar, Maierana Road, Faridabad – 121006, Haryana,
India |
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Date of Birth/Age : |
07.11.1960 |
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Date of Appointment : |
26.09.1995 |
KEY EXECUTIVES
|
Name : |
Akhil and company |
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Designation : |
Company Secretary |
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Address : |
C – 76, Bhagat Singh Colony, Ballbgarh, Faridabad – 121006, Haryana,
India |
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Mobile No.: |
91-9810324137 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
No. of Shares |
|
Mr. Dharam Pal Sharma |
123730 |
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Mr. Vidya Devi |
120520 |
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Mr. Praveen Jangir |
7500 |
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Mr. Mitlesh Gupta |
2500 |
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Mrs. Sushila Devi Garg |
7500 |
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Mr. Shree Ram Garg |
10000 |
|
Vansh FIN Investment Private Limited |
10000 |
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Surendra Min Chem Private Limited |
25000 |
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Total |
306750 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
|
1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Modular Kitchen, Home Furniture, Doors, Windows and
Wardrobes. |
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Products : |
Doors v
Carved Doors v
Interior Door v
Glass Doors v
Wire mesh Doors v
Wooden Doors Kitchen v
Modular Kitchen v
Kitchen Shutters Home Furniture v
Bed Room v
Living Room v
Dining Room v
Bathroom v
Kids Room v
Study Room Corporate Furniture v
Main Entrance Door v
Executive Table v
Executive Chairs v
Board Room/Conference Table v
Work Stations v
Other
Wardrobes v
Wardrobes v
Wall Unit |
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Exports : |
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Countries : |
v USA v UAE |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL
INFORMATION
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Suppliers : |
v MRF Limited v Esson Chemical
Industries Private Limited v Raj Kripal Timber
Industries Private Limited v Samridhi Techno
Product India Private Limited |
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Customers : |
v End Users v Ansal Housing
and Construction Limited v ZPS Enterprises v Vidait Engineers v Sai Crafts
Limited v Keselec Schreder
Private Limited v Shakuntla Maternity
and Nursing Home Private Limited |
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No. of Employees : |
130 |
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Bankers : |
v State Bank of
India v ICICI Bank
Limited v Union Bank of
India v Small Industries
Development Bank of India H/O SIDBI Towers, 15, Ashok Marg, Lucknow -
226001, Uttar Pradesh, India. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mohta Gupta and Associates, Chartered Accountants |
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Address : |
E – 1/76, YMCA Road, Sector – 11, Faridabad – 121 006, Haryana, India |
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Tel. No.: |
91-129-2262774, 4008767 |
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Fax No.: |
91-129-4008767 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
306,750 |
Equity Shares |
Rs. 10/- each |
Rs. 3.067
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
3.067 |
3.067 |
2.067 |
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2] Share Application Money |
1.950 |
0.500 |
0.000 |
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3] Reserves & Surplus |
1.420 |
1.558 |
0.533 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.049) |
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NETWORTH |
6.437 |
5.125 |
2.551 |
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LOAN FUNDS |
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1] Secured Loans |
12.887 |
9.189 |
7.485 |
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2] Unsecured Loans |
0.110 |
0.850 |
4.251 |
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TOTAL BORROWING |
12.997 |
10.039 |
11.736 |
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DEFERRED TAX LIABILITIES |
0.027 |
0.000 |
0.000 |
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TOTAL |
19.461 |
15.164 |
14.287 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.904 |
12.942 |
11.842 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.104 |
0.043 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.065
|
5.544 |
3.393 |
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Sundry Debtors |
0.540
|
1.135 |
0.654 |
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Cash & Bank Balances |
0.097
|
0.035 |
0.074 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.148
|
0.270 |
0.879 |
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Total
Current Assets |
10.850
|
6.984 |
5.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.199
|
2.730 |
2.174 |
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Provisions |
2.891
|
2.911 |
1.251 |
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Total
Current Liabilities |
5.090
|
5.641 |
3.425 |
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Net Current Assets |
5.760
|
1.343 |
1.575 |
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MISCELLANEOUS EXPENSES |
0.797 |
0.774 |
0.827 |
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TOTAL |
19.461 |
15.164 |
14.287 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
16.815 |
15.811 |
10.604 |
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Other Income |
0.022 |
0.051 |
0.051 |
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Total Income |
16.837 |
15.862 |
10.655 |
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Profit/(Loss) Before Tax |
0.046 |
0.054 |
0.035 |
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Provision for Taxation |
0.184 |
(0.021) |
0.018 |
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Profit/(Loss) After Tax |
(0.138) |
0.075 |
0.017 |
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Expenditures : |
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Manufacturing Expenses |
1.945 |
1.820 |
1.833 |
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Administrative Expenses |
2.338 |
2.117 |
2.060 |
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Raw Material Consumed |
10.474 |
11.203 |
7.140 |
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Increase/(Decrease) in Finished Goods |
(0.460) |
(0.924) |
(1.171) |
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Financial Charges |
1.085 |
0.725 |
0.294 |
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Depreciation & Amortization |
1.409 |
0.867 |
0.464 |
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Total Expenditure |
16.791 |
15.808 |
10.620 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
(0.82)
|
0.47 |
0.16 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.27
|
0.34 |
0.33 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.27
|
0.34 |
0.33 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
1.05 |
1.37 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.79
|
1.10 |
1.34 |
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Current Ratio (Current Asset/Current Liability) |
|
2.13
|
1.24 |
1.46 |
LOCAL AGENCY
FURTHER INFORMATION
Table
|
Parameters |
Details |
|
Statutory
Approvals |
|
|
Income Tax Registration |
AAACD2776M |
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VAT / TIN Registration |
06601203783 |
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Name of Bank |
State Bank of India |
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Current Account Number |
109529606 |
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Account Since |
10 Years |
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Credibility
Factors |
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India Mart Client Since |
2 Years |
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Standards and
Certifications |
ISO Certified |
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Quality Management Systems |
No – IN – Q 29606 |
Form 8
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Name of the company |
D P WOODTECH
PRIVATE LIMITED |
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Presented By |
State Bank of
India, Ballabgarh |
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1) Date and description of instrument creating the change |
General agreement
for the grant of medium term advances to small scale industries and
hypothecation of movables, book debts and other assets dated along with
ancillary agreement for medium term loan against pledge of movable machinery
dated 26.03.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.000 million |
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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
all the machinery of the company lying in or about the factory premises in F
– 48, Adarsh Nagar, Malerna Road, Ballabgarh or elsewhere in India. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest to be
charged @1.5% above SBAR with minimum @11.75% p.a. Margin @ 25% Repay in 60 equal
monthly installments of Rs. 16667/- plus interest starting from 16.06.2004 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India,
Ballabgarh |
Form 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1995PTC072733 |
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Name of the
company |
D P WOODTECH PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
58, Rani Jhansi Road, MM Road, Paharganj, New Delhi – 110055, India |
|
Type of charge |
v Immovable
property v Movable property
(not being pledge) |
|
Particular of
charge holder |
Name : Small
Industries Development Bank of India Address : H/O
SIDBI Towers, 15, Ashok Marg City : Lucknow State : Uttar
Pradesh ISO country code
: IN Pin code : 226001 e-mail ID : kirpals@sidbi.in |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Term loan limit cum hypothecation dated 03.01.2007 |
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Date of
instrument Creating the charge |
03.01.2007 |
|
Amount secured by
the charge |
Rs. 4.900
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.5% p.a. Terms of
repayment In 33 monthly
installments comprising of 32 Instalments of Rs. 148000 each and last
instalments of Rs. 164000 commencing 3 months after first disbursement. Margin As per SIDBI
norms. Extent operation
of the charge First charge on
all assets secured by its present term loan and term loan previously availed
by the company from SIDBI being movables, plant and machinery. Others Equitable
mortgage of land and building admeasuring 2 kanel 19 marias situated at 14/7,
Mathura Road, Faridabad, owned by D P Woodtech Private Limited. |
|
Short particulars
of the property charged |
1st charge
on movables / plant and machinery acquired out of previous term loan as also
to be acquired under the present scheme. Equitable mortgage of land and
building admeasuring 2 kanel 19 marlas situated at 14/7, Mathura Road,
Faridabad, owned by D P Woodtech Private Limited |
Trade References
v Ansal Housing and Company Private Limited
v Home Makers – Noida
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. 42.59 |
|
UK Pound |
1 |
Rs. 84.16 |
|
Euro |
1 |
Rs. 65.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|