MIRA INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELUXE PETROCHEM PRIVATE LIMITED |
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Registered
Office : |
340-348, Narsi Natha Street, 304-305, Sahakar Bhavan, Mumbai – 400
009, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2000 |
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Date of
Incorporation : |
07.08.1995 |
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Com. Reg. No.: |
91517 |
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CIN No.: [Company
Identification No.] |
U25100MH1995PTC091517 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importer, Exporter and Dealer in all kinds of Plastic Raw Materials, Granules,
Chemicals, Petrochemicals and Bearings. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment
Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Mr. Sanjay and Mr. Ravi denied business and financial details The Company has not filed any financials after year 2000 with the
registry. Thus, it is a company with poor Corporate Governance. It’s payments are slow and delayed in current scenario. The company can be considered for any business dealings on safe and
secured trade terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. Sanjay |
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Designation : |
Telephone Operator |
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Date : |
13.11.2008 |
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Name : |
Mr. Ravi |
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Designation : |
Telephone Operator |
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Date : |
13.11.2008 |
LOCATIONS
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Registered
Office : |
340-348, Narsi Natha Street, 304-305, Sahakar Bhavan, Mumbai-400009,
Maharashtra, India |
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Tel. No.: |
91-22-55997851, 55997852, 23441446 |
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Fax No.: |
91-22-55997854, 23443847 |
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E-Mail : |
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Website : |
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Head Office : |
P. O. Box No. 17341, 3/A, 14-C, 1st Floor Bhandup, Mumbai-400 078,
Maharashtra, India |
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Tel. No.: |
91-22-55997851, 91-22-55997852 |
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Fax No.: |
91-22-55997854 |
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E-Mail : |
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Office : |
304,305 Sarkar Bhuvan, N.N Street, Masjid
Bunder. Mumbai- 400009, Maharashtra, India |
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Tel. No.: |
91-22-23448917/23441446/23400497 |
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Fax No.: |
91-22-23443847 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Devendra M. Shah |
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Designation : |
Director |
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Address : |
7/8, Lalakripa, 251, Hingwala Lane,
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
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Date of
Appointment : |
07.08.1995 |
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Name : |
Mr. Jitendra D. Shah |
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Designation : |
Director |
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Address : |
7/8, Lalakripa, 251, Hingwala Lane,
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
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Date of
Appointment : |
07.08.1995 |
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Name : |
Mrs. Manisha M. Shah |
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Designation : |
Director |
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Address : |
7, New Kailash Tower, Dersar Lane, Ghatkopar
(East), Mumbai-400077, Maharashtra, India |
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Date of
Appointment : |
07.08.1995 |
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Name : |
Mr. Rushabh J. Shah |
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Designation : |
Director |
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Address : |
7/8, Lalakripa, 251, Hingwala Lane, Ghatkopar
(East), Mumbai-400077, Maharashtra, India |
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Date of
Appointment : |
07.08.1995 |
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Name : |
Mr. Dilip D. Shah |
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Designation : |
Director |
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Address : |
501, Kailash Tower, A Wing, off Odean Cinema,
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
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Date of
Appointment : |
07.08.1995 |
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Name : |
Mrs. Chetana P. Shah |
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Designation : |
Director |
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Address : |
12, Shanti Building, Hingwala Lane, Ghatkopar
(East), Mumbai-400077, Maharashtra, India |
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Date of Appointment : |
07.08.1995 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
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Mr. Devendra M. Shah |
25100 |
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Mr. Jitendra D. Shah |
25100 |
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Mrs. Muktaben D. Shah |
10000 |
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Mrs. Bharati J. Shah |
5000 |
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Mr. Hardik J. Shah |
3000 |
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Mr. Rushabh J. Shah |
5000 |
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Mr. Dilip D. Shah |
25100 |
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Mrs. Beena D. Shah |
5000 |
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Mr. Jay D. Shah |
7000 |
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Mr. Piyush D. Shah |
25100 |
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Mrs. Chetana P. Shah |
5000 |
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Mr. Dharmesh P. Shah |
7000 |
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Mr, Kevin M. Shah |
5000 |
BUSINESS DETAILS
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Line of Business
: |
Importer, Exporter and Dealer in all kinds of Plastic Raw Materials, Granules,
Chemicals, Petrochemicals and Bearings. |
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Imports : |
·
China ·
Indonesia |
GENERAL
INFORMATION
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Suppliers : |
·
Suman Impex ·
Garebo Industries Limited ·
Jai Electronics Industries Private Limited ·
Prit International ·
Deluxe-Karam Import Private Limited ·
Nupee Corporation ·
Garebo Exports |
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Customers : |
·
Samir Supply Private Limited ·
Colour Chem Limited ·
Kohinoor India Limited ·
Mukand Limited ·
Maddila Fibers and Chem Private Limited ·
Kchinon India Limited ·
Sachi Intil ·
Leo Chemoplast Private Limited |
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No. of Employees
: |
5 |
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Bankers : |
Union Bank of
India , Ghatkopar (East), Branch, M. G. Road, Mumbai-400077, Maharashtra,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Janak Mehta and Company Chartered Accountant |
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Address: |
191 Bora Bazar Street, Fort, Mumbai-400001 |
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Tel. No.: |
91-22-2617692 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
|
50000 |
12% Redeemable Cumulative Preference
Shares |
Rs.10/- each |
Rs.0.500 million |
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Total
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Rs.2.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
175000 |
Equity Shares |
Rs.10/- each |
Rs.1.750 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
No Financials of the company after 2000 is available. The company is
poor in Corporate Governance.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2000 |
31.03.1999 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
1.750 |
1.750 |
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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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0.840 |
0.606 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
2.590 |
2.356 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
2.163 |
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2] Unsecured Loans |
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10.991 |
10.079 |
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TOTAL BORROWING |
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10.991 |
12.242 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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13.581 |
14.598 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.151 |
0.319 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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26.275 |
15.929 |
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Sundry Debtors |
|
7.567 |
4.571 |
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Cash & Bank Balances |
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1.380 |
0.048 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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7.905 |
3.748 |
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Total
Current Assets |
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43.127 |
24.296 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provisions |
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29.714 |
10.038 |
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Total
Current Liabilities |
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29.714 |
10.038 |
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Net Current Assets |
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13.413 |
14.258 |
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MISCELLANEOUS EXPENSES |
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0.017 |
0.021 |
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TOTAL |
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13.581 |
14.598 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2000 |
31.03.1999 |
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Sales Turnover [including other income] |
|
69.738 |
44.172 |
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Profit/(Loss) Before Tax |
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0.399 |
0.296 |
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Provision for Taxation |
|
0.165 |
0.105 |
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Profit/(Loss) After Tax |
|
0.234 |
0.191 |
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Import Value |
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13.783 |
2.783 |
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Total Expenditure |
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69.339 |
43.875 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2000 |
31.03.1999 |
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PAT / Total Income |
(%) |
|
0.33 |
0.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.57 |
0.67 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.92 |
2.85 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
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15.71 |
9.45 |
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Current Ratio (Current Asset/Current Liability) |
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1.45 |
2.42 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
is trading in following goods
·
Electronic Goods
·
Phenol
·
Dop Plasticizer
·
Plastic Ponder
·
Sodium Nitrite
·
FAG Stearing Bearing
·
Sodium Carbxy
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Sodium Jacsharing
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Cyclohexanore
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Benzol Denude
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Carbon Black, etc
Fixed Assets
·
Computer
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Mobile Phone
·
Maruti 1000
·
Maruti 800 model cars
As Per Website Details
About Us
The Deluxe Group
of company was started in the year 1975 to cater the requirement of the industry.
Intially starting with the office in mumbai, since then they had grown up, with
the support of the customers, they had wide distribution network in other parts
of India as well. They are now one of the largest, best known, most reliable
and reputed dealers and distributors of plastics, chemicals and ball bearings
in the Indian market, catering to the needs of trade and actual users. Being
authorized distributors of many companies, they ensure the customers get 100%
genuine products, in sealed packing, without any risk of adulteration or
contamination
And since the godowns are always stocked, they assure round-the-year
availability of the products and also fixed rates. Access to a wide range of
industry segments makes them a key source for product usage, handling and price
trends.The company is totally customer-service oriented and firmly believes
that business relations will endure only if the foundation is built on long
term perceptions and commitments.So with DELUXE as the trusted
source of Plastics, Chemicals and Ball
Bearings really don’t need to look elsewhere. The other
services offered are Shares and investment and Movie distribution.
Product
River embakments and canals
CL-5 is ideal for river
embakments and canals because it strengthnes the embakment
Deluxe Groups of companies regularly imports chemicals from various far
eastern countries as well as far western countries
Deluxe Groups of companies are into Imports, shares and investment with
office in Mumbai and Gujrat. The group has been diversified into various
sectors.One of that is Ball Bearings.
Deluxe Groups of companies are into Imports, shares and investment with
office in Mumbai and Gujrat. The group has been diversified into various
sectors.One of that is Ball Bearings.
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 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.48.79 |
|
UK Pound |
1 |
Rs.75.41 |
|
Euro |
1 |
Rs.61.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
41 |
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 |
|