MIRA
INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEUSCH MEDIQUIP PRIVATE LIMITED |
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Registered
Office : |
E-35, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.12.1993 |
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Com. Reg. No.: |
55-56683 |
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CIN No.: [Company Identification
No.] |
U24232DL1993PTC056683 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD04969G |
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PAN No.: [Permanent Account No.] |
AAACD4791Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Metal Bonded Rubber Parts as well as Rubber Parts with
Nylon Caps and other kinds of inserts. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 36000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
E-35, |
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Tel. No.: |
91-95120-2581530 |
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Mobile No.: |
91-9899170100 (Mr. Piyush Dhawan) |
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E-Mail : |
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Head Office : |
A-82, Sector – 57, Gautam Budh Nagar, Noida – 201301, |
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Tel. No. : |
91-120-3297939 |
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Fax No. : |
91-120-4327564 |
DIRECTORS
As on 30.09.2010
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Name : |
Mrs. Shobha Dhawan |
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Designation : |
Director |
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Address : |
F-9, Sector – 39, Noida – 201301, |
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Date of Appointment : |
30.12.1993 |
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Name : |
Mr. Piyush Dhawan |
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Designation : |
Director |
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Address : |
F-9, Sector – 39, Noida – 201301, |
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Date of Appointment : |
15.07.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
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Mr. Piyush Dhawan |
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100 |
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Mrs. Shobha Dhawan |
|
22400 |
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Mr. Vijay Misra |
|
400 |
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Total |
|
22900 |
As on 30.09.2010
|
Category |
Percentage |
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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 Metal Bonded Rubber Parts as well as Rubber Parts with
Nylon Caps and other kinds of inserts. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.S. Katyal and Company Chartered Accountant |
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Address : |
308, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
22900 |
Equity Shares |
Rs.100/- each |
Rs.2.290
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.290 |
2.040 |
2.040 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.650 |
4.909 |
3.140 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.940 |
6.949 |
5.180 |
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LOAN FUNDS |
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1] Secured Loans |
14.812 |
13.558 |
15.851 |
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2] Unsecured Loans |
2.877 |
2.707 |
1.019 |
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TOTAL BORROWING |
17.689 |
16.265 |
16.870 |
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DEFERRED TAX LIABILITIES |
0.090 |
0.090 |
0.090 |
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TOTAL |
26.719 |
23.304 |
22.140 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.852 |
14.268 |
15.355 |
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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 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.426
|
4.915 |
6.817 |
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Sundry Debtors |
7.670
|
6.538 |
5.937 |
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Cash & Bank Balances |
1.112
|
0.417 |
1.281 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.373
|
1.370 |
0.958 |
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Total
Current Assets |
14.581
|
13.240 |
14.993 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.111
|
3.602 |
7.964 |
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Provisions |
0.603
|
0.602 |
0.244 |
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Total
Current Liabilities |
5.714
|
4.204 |
8.208 |
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Net Current Assets |
8.867
|
9.036 |
6.785 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
26.719 |
23.304 |
22.140 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
33.974 |
32.418 |
31.382 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
29.997 |
28.920 |
29.705 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.977 |
3.498 |
1.677 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (D) |
1.637 |
1.129 |
1.352 |
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PROFIT BEFORE
TAX (C-D) (E) |
2.340 |
2.369 |
0.325 |
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Less |
TAX (F) |
0.600 |
0.600 |
0.244 |
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PROFIT AFTER TAX
(E-F) (G) |
1.740 |
1.769 |
0.081 |
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Earnings Per Share
(Rs.) |
76.00 |
86.00 |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.12
|
5.46 |
0.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.21
|
8.61 |
1.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.34 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.62
|
2.94 |
4.84 |
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Current Ratio (Current Asset/Current Liability) |
|
2.55
|
3.15 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8 :
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24232DL1993PTC056683 |
|
Name of the
company |
DEUSCH MEDIQUIP
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-35, |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Small Industries Cevelopment Bank of India, Videocon Tower, Ground
Floor, E-1, Rani Jhansi Road, Jhandewalan Extension, New Delhi – 110055,
Delhi, India |
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Nature of
description of the instrument creating or modifying the charge |
First charge on
movable assets vide deed of hypothecation dated 09/02/2011 executed in favour
of SIDBI. |
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Date of
instrument Creating the charge |
09.02.2011 |
|
Amount secured by
the charge |
Rs.2.600 Millions |
|
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 : The Term Loan
shall be repaid by the Borrower to SIDBI in 54 monthly installments
comprising first 53 installments of Rs.0.048 millions each and the last i.e.
54th installment of Rs.0.056 millions, commencing after a moratorium of six
(6) months from the date of first disbursement Margin : Rs.0.930 millions
as promoter contribution comprising of Rs.0.465 million as internal accruals
and Rs.0.465 million as interest free unsecured loan. |
|
Short particulars
of the property charged |
All the movable
assets (save and except book debts) including plant, machinery tools &
accessories office equipment, computers, furniture and fixture and fixture
both present and future. |
FIXED ASSETS :
- Land
- Building
- Plant and Machinery
- Car
- Cooler
- Computer
- Television
- Furniture
- Cycle
- Electrical Fitting
- Generator
- Dies and Moulds
- Fan
- Fax Machine / Telephone
- Plastic bins and creates
- Transformer
- Fridge
- Air Conditioner
- Weighing Machine
- Van
- Invertor
- Office Equipment
- Fire Equipments
- Car (
- Motor Cycle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.