MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
DOLAR GOLD BELTS AND FANS PRIVATE LIMITED |
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Registered Office : |
4, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.03.1988 |
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Com. Reg. No.: |
21-4349 |
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CIN No.: [Company
Identification No.] |
U29303WB1988PTC043949 |
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IEC No.: |
0295025123 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALD00662E |
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PAN No.: [Permanent
Account No.] |
AABCD1212F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Supplier of Cotton belts and Industrial
terms, products- Cotton Conveyor belts, Air Slide Fabrics, Industrial Brake
linings, Axial Flow Fans, Industrial Fans, etc. |
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 24000 |
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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 records. Trade relations are fair. Business is active. Payments are reported
as usually made as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED BY
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Name : |
Mr. Ramchandran |
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Designation : |
Secretary |
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Name : |
Mr. Attpurath Nambithan
Viduran |
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Designation : |
Director |
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Date : |
22.10.2008 |
LOCATIONS
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Registered Office : |
4, Satyen Roy Road, Kolkata
– 700 034, West Bengal, India |
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Tel. No.: |
91-33-24681064 |
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Mobile No.: |
91-9831052889 (Mr. Attpurath Nambithan Viduran) |
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E-Mail : |
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Website : |
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Area : |
450 sq ft |
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Location : |
Owned |
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Head Office 1 : |
3rd Floor, James View 10, Sadan Hari Mukharjee Road, Kolkata – 700 034, West Bengal, India |
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Tel. No.: |
91-33-24681064 |
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Fax No.: |
91-33-24682612 |
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Area : |
1500 sq ft |
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Location : |
Owned |
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Head Office 2 : |
Pandit Sadguru, Sri
Ram Pur, Hoogli |
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Area : |
32000 sq ft |
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Location : |
Owned |
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Factory : |
Off. THakur South 24, Parjanah
District, West Bengal, India |
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Area : |
48000 sq ft |
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Location : |
Owned |
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Branches : |
Pandit Satghara, P.O. Mallick Para, Sreerampore,
Dist. Hooghly, West Bengal – 712 202, India |
DIRECTORS
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Name : |
Mr. Attpurath Nambithan
Viduran |
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Designation : |
Director |
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Address : |
140 Jay Krishnan Paul Road, Behala, Kolkata – 700 038, West Bengal, India |
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Date of Birth/Age : |
13.05.1945 |
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Qualification : |
M. Com, LLB |
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Date of Appointment : |
11.03.1988 |
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Name : |
Mrs. Geeta Viduran |
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Designation : |
Director |
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Address : |
140 Jay Krishnan Paul Road, Behala, Kolkata – 700 038, West Bengal, India |
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Date of Birth/Age : |
26.12.1956 |
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Qualification : |
B. Com |
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Date of Appointment : |
11.03.1988 |
KEY EXECUTIVES
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Name : |
D Raut and Associates |
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Designation : |
Company Secretary |
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Address : |
42/1 B. B. Ganguly Street, 2nd
Floor, Kolkata – 700 012 |
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Phone No : |
91-33-22259585 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Attpurath Nambithan
Viduran |
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12513 |
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Mrs. Geeta Viduran |
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2495 |
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Mr. Vivek Viduran |
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755 |
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Mr. K. Vishwanathan |
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830 |
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Mr. Subodh Chaterjee |
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50 |
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Mr. J. K. Mukharjee |
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90 |
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Mr. A. A. Unikrishnan |
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880 |
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Mr. Raj Gopal Balkrishnan |
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50 |
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Mr. Sandip Kishore
Mujharjee |
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470 |
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Total |
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18133 |
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Equity Share breakup (percentage of total
equity) |
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Category |
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Percentage |
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Directors or relatives of directors |
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100 |
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Total |
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100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Supplier of Cotton belts and Industrial
terms, products- Cotton Conveyor belts, Air Slide Fabrics, Industrial Brake linings,
Axial Flow Fans, Industrial Fans, etc. |
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Products : |
Dolar Gold Industrial Beltings Division Offering
Dolar Gold Fans & Pollution Control Division
Offering ·
Axial Flow Fans ·
Centrifugal Flow Fans ·
Pollution Control System ·
Pollution Control Equipments |
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Brand Name : |
Dolar |
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Exports : |
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Products : |
Cotton Belts and Industrial Fans |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
100 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
T.K. Mazumdar and Associates |
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Address : |
4/3, Poddar Nagar,
Kolkata – 700 068, West Bengal, India |
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Tel. No.: |
91-33-24725654 |
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Associates/Subsidiaries : |
Dolar V4 Rubber Ink |
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Address : |
3rd Floor, James View 10, Sadan Hari Mukharjee Road, Kolkata – 700 034, West Bengal, India |
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Line of Business : |
Manufacturer of Rubber Components |
CAPITAL STRUCTURE
(As On 29.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Share |
Rs.1000/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18133 |
Equity Share |
Rs.1000/- each |
Rs.1.813
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] Share Capital |
1.813 |
1.813 |
1.813 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.130 |
2.002 |
1.086 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.943 |
3.815 |
2.899 |
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LOAN FUNDS |
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1] Secured Loans |
4.937 |
3.100 |
1.465 |
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2] Unsecured Loans |
1.025 |
0.000 |
0.000 |
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TOTAL BORROWING |
5.962 |
3.100 |
1.465 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.905 |
6.915 |
4.364 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.760 |
3.941 |
1.478 |
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Capital work-in-progress |
0.150 |
0.500 |
0.165 |
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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 |
3.124
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2.125 |
1.951 |
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Sundry Debtors |
6.215
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4.433 |
4.292 |
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Cash & Bank Balances |
0.031
|
0.054 |
0.093 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.033
|
0.460 |
0.417 |
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Total
Current Assets |
10.403
|
7.072 |
6.753 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.182
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4.088 |
3.741 |
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Provisions |
1.226
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0.510 |
0.291 |
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Total
Current Liabilities |
4.408
|
4.598 |
4.032 |
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Net Current Assets |
5.995
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2.474 |
2.721 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.905 |
6.915 |
4.364 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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39.968 |
36.141 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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39.968 |
36.141 |
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Profit/(Loss) Before Tax |
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1.843 |
1.353 |
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Provision for Taxation |
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0.716 |
0.436 |
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Profit/(Loss) After Tax |
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1.127 |
0.917 |
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Expenditures : |
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Interest |
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0.464 |
0.202 |
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Other Expenditure |
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37.661 |
34.586 |
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Total Expenditure |
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38.125 |
34.788 |
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Particulars |
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31.03.2008 |
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Sales Turnover |
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50.000 |
Expected Sales (2008-09): Rs.10% more than last year
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 |
(%) |
2.81
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2.53 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
4.61
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3.74 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.15
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12.28 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.37
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0.35 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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2.09
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2.01 |
1.89 |
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Current Ratio (Current Asset/Current Liability) |
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2.36
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1.53 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement
of Indiamart for Trust-Seal |
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VAT / TIN :19622242036 |
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IEC Code :0295025123 |
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PAN / TAN :AABCD1212F |
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Bank Name :Federal Bank |
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Bank Address :Behla Branch, Kolkata |
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Bank A/c. No.:13145500002942 |
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Account Since :1988 |
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In case of any affiliations / memberships / certifications : |
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Name :ISO 9001:2000 |
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Expiry Date :03.02.2001 |
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Form 8
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80025823 |
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Corporate
identity number of the company |
U29303WB1988PTC043949 |
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Name of the
company |
Dollar Gold Belts
and Fans Private Limited |
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Address of the registered
office or of the principal place of
business in India of the company |
4, Satyen Roy Road, Kolkata
– 700 034, West Bengal, India |
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Type of charge |
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Particular of charge
holder |
The Federal Bank
Limited, 514, Diamond Harour Road, Kolkata – 700 034, West Bengal, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of Cash
and Credit Loan Term Loan
Agreement Suppl. Recital |
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Date of
instrument Creating the charge |
22.02.2007 |
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Amount secured by
the charge |
Rs.5.860 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For Cash Credit@14.00%
p.a with monthly rests. For Term Loan@
15.25% p.a with monthly rests Terms of
Repayment As may be stipulated by the Bank from time
to time Margin 25% of Goods and 50% of Receivable Extent and
Operation of the charge First Charge on the
whole of the hypothecated assets and mortgaged properties. Others |
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Short particulars
of the property charged |
Stock of Raw
Materials, Finished Goods, Stock in process of Industrial Belts. The said
assets(s)/ vehicle(s)/ vessel(s)/ machinery(ies) |
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Particulars of
the present modification |
By this modification, the Overall Limits is
enhanced from Rs.3.000 Million to Rs.5.860 Million (Rupees Fifty Eight Lacks
Sixty thousand only) with details of credit facilities as specified below- Cash Credit –
Rs.5.000 Millions and Term Loan – Rs.0.860 Million. Particulars of
Immovable properties and all other terms and conditions continue to remain as
before in full force and effect. |
Trade Reference
- EFL India Limited, Gurgaon
- AMSCO
- Grasim Cement Limited, Mumbai
As Per Websites
The Company incorporated as an Engineering Unit to manufacture and
marketing domestic
and Industrial fans
under brand name “DOLAR” and
carving out a niche of the fan market, the Management also decided to diversify
into the new area of Industrial belts
as well to cater the needs of especially material handling equipments
The company started manufacturing industrial belting products, especially the Textile belts like cotton conveyor belts, Transmission belts from 1996. Since
its inception, more and more belting products like Rubber conveyor belts, Elevator belts, Airside
Fabrics (aero slide Fabrics), Brake linings were also added.
Presently
their range of products includes:
Cotton Conveyor belts, Rubber Conveyor/Elevator
belts, Air slide Fabrics, Industrial Brake Linings, Transmission Belts (Hair
Belts, Cotton Transmission belts, Nylon Transmission belts) and Other belting
products ( Nylon Leather Sandwich Belts, Nylon Drop Stamp Belts, Dust Collector
Filter bags, Water stops etc).
In the mean time, the company
also widened its products range of its Pollution controls and Industrial Fans Division
as well.
Presently the Product ranges include:
Axial Flow Fans, Centrifugal Fans, Pneumatic Conveying
Systems, Pneumatic Conveying Equipments and Industrial Fans (Man coolers,
Exhaust Fans, Air Circulators, Blowers, A.C. Ceiling Fans).
BELTING DIVISION: Cotton Conveyor
Belts | Rubber Conveyor Belts |Air Slide Fabrics | Industrial Brake Lining |
Transmission Beltings | Other Beltings
FANS and POLLUTION CONTROL DIVISION: Axial Flow Fans
| Centrifugal Flow Fans | Pneumatic Conveying Systems | Pneumatic Conveying
Equipments | Industrial Fans
The site is designed and maintained by Sankhya Software for Dollar Gold Belts and Fans Pvt. Ltd. Kolkata
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] 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.49.29 |
|
UK Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.53 |
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 |
YES |
|
--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 |
|