MIRA
INFORM REPORT
|
Report Date : |
27.08.2011 |
IDENTIFICATION DETAILS
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Name : |
D.S. CONTROLS AND AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
603, The Sovereign Apartment, Kalyani Nagar, Pune-411006, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.10.2007 |
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Com. Reg. No.: |
11-130903 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.100 million |
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CIN No.: [Company Identification
No.] |
U29299PN2007PTC130903 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNED05844G |
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PAN No.: [Permanent Account No.] |
AACD7119G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealers in engineering and control equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (11) |
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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 |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appear
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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 : |
603, The Sovereign Apartment, Kalyani Nagar, Pune-411006, Maharashtra,
India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Gat No. 2344 (New No : 1358), Kawade Vasti, Behind Sai Satyam Park,
Wagholi, Taluka Haveli, District Pune :412207, Maharashtra, India |
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Tel. No.: |
91-20-66145134 / 66145125 – 33 |
DIRECTORS
AS ON 23.09.2010
|
Name : |
Mr. Manjeetsingh Dayasingh Dhupar |
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Designation : |
Director |
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Address : |
603, The Sovereign Apartment, Kayani Nagar, Pune-411006, Maharashtra,
India |
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Date of Birth/Age : |
01.12.1968 |
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Date of Appointment : |
26.10.2007 |
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DIN No : |
01772221 |
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Name : |
Mr. Dayasingh Narayansingh Dhupar |
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Designation : |
Director |
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Address : |
202/303, ‘C’ Wing, Geraland Mark, Kalyani Nagar, Pune-411006, Maharashtra,
India |
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Date of Birth/Age : |
15.03.1936 |
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Date of Appointment : |
26.10.2007 |
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DIN No : |
01772450 |
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Name : |
Mr. Surjitsingh Dayasingh Dhupar |
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Designation : |
Director |
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Address : |
D-102, Landmark Garden, Kalyani Nagar, Pune-411006, Maharashtra, India |
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Date of Birth/Age : |
25.07.1965 |
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Date of Appointment : |
26.10.2007 |
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DIN No : |
01772150 |
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Name : |
Mr. Surindersingh Dayasingh Dhupar |
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Designation : |
Director |
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Address : |
PI 22/B Wing C, FI 202, Gera Land Mark, Kalyani Nagar, Pune-411014,
Maharashtra, India |
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Date of Birth/Age : |
20.08.1963 |
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Date of Appointment : |
26.10.2007 |
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DIN No : |
01772182 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2010
|
Names of Shareholders |
No. of Shares |
|
Manjeetsingh Dayasingh Dhupar |
2500 |
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Dayasingh Narayansingh Dhupar |
2500 |
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Surindersingh Dayasingh Dhupar |
2500 |
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Surjitsingh Dayasingh Dhupar |
2500 |
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Total |
10000 |
AS ON 23.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers in engineering and control equipments. |
GENERAL INFORMATION
|
Bankers : |
·
Union Bank of India Pune City Branch, 189, Bohari
Aali, Ravivar Peth, Pune-411002, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A. V. Iyer and Company Chartered Accountant |
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Address : |
Flat No.2, Shree Apartments, 1194/21, Ghole Road, Shivajinagar,
Pune-411005, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.024 |
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4] (Accumulated Losses) |
(2.145) |
(0.814) |
0.000 |
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NETWORTH |
(2.045) |
(0.714) |
0.124 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
1.050 |
0.000 |
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2] Unsecured Loans |
4.424 |
4.424 |
3.702 |
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TOTAL BORROWING |
4.424 |
5.474 |
3.702 |
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DEFERRED TAX LIABILITIES |
0.003 |
0.001 |
0.000 |
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TOTAL |
2.382 |
4.761 |
3.826 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.421 |
0.215 |
0.017 |
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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 |
4.509
|
3.387 |
3.360 |
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Sundry Debtors |
3.188
|
1.687 |
2.900 |
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Cash & Bank Balances |
3.886
|
0.022 |
1.166 |
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Other Current Assets |
0.808
|
0.750 |
1.168 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
12.391
|
5.846 |
8.594 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.914
|
0.961 |
4.305 |
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Other Current Liabilities |
7.125
|
0.030 |
0.507 |
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Provisions |
0.408
|
0.380 |
0.098 |
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Total
Current Liabilities |
10.447
|
1.371 |
4.910 |
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Net Current Assets |
1.944
|
4.475 |
3.684 |
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MISCELLANEOUS EXPENSES |
0.017 |
0.071 |
0.125 |
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TOTAL |
2.382 |
4.761 |
3.826 |
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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 |
|
14.638 |
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Other Income |
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TOTAL |
16.394 |
14.638 |
2.243 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Financial Expenses |
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Advertising Expenses |
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TOTAL |
17.674 |
15.452 |
2.206 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1.280) |
(0.814) |
0.037 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.048 |
0.023 |
0.000 |
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PROFIT / (LOSS)
BEFORE TAX |
(1.328) |
(0.837) |
0.037 |
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Less |
TAX |
0.002 |
0.001 |
0.013 |
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PROFIT / (LOSS)
AFTER TAX |
(1.330) |
(0.838) |
0.024 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.814) |
0.024 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
(2.144) |
(0.814) |
0.024 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(8.11)
|
(5.72) |
1.07 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(10.37)
|
(13.81) |
0.43 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.65
|
1.17 |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
|
(7.27)
|
(5.75) |
69.45 |
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Current Ratio (Current Asset/Current Liability) |
|
1.19
|
4.26 |
1.75 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE AND FUTURE PROSPECTS:
The directors are
pleased to put on table the Third financial results of the Company. As is evident
from the figure, the Company achieved a turnover of Rs. 16.394 millions during
the year as against Rs. 14.637 millions in the preceding year.
Though the company
clocked higher turnover, it reported Losses to the tune of Rs. 1.327 millions
before Taxes. It was because of the higher cost of materials Purchased. Also,
the company could not achieve targeted turnover because of recessionary
conditions in the market. During the current year, the Directors look forward
to achieve record turnover and the company have already earned good profits
up-till date.
FORM 8
|
Corporate
identity number of the company |
U29299PN2007PTC130903 |
|
Name of the
company |
D.S. CONTROLS AND
AUTOMATION PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
603, The Sovereign Apartment, Kalyani Nagar, Pune-411006, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property (not
being pledge) Floating charge Others |
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Particular of
charge holder |
Union Bank of India Pune City Branch, 189, Bohari Aali, Ravivar Peth, Pune-411002, Maharashtra, India |
|
Nature of
instrument creating charge |
Hypothecation
Agreement of Goods and Debts executed on 25/06/2009 to create a single and
entire charge against all present and future current assets of the borrower
company. |
|
Date of
instrument Creating the charge |
25.06.2009 |
|
Amount secured by
the charge |
Rs. 7.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest For CC
(Hypothecation) the Rate of Interest would be: BPLR+0.75% p.a. For B.G. the
commission would be as per banks normal norms. The additional penal interest
on the default. Terms of repayment DCC: On Demand. Margin 25%. Extent and operation of the charge The Union Bank of
India Pune City Branch will have single and entire charge against the current
assets of the Borrower company. The Company has provided the counter
indemnity and FDR(25% margin) under lien. The Directors have extended the
Personal Guarantee to set against the entire loan facility availed by the
Company. Other All other Terms
and conditions as per RBI's Rules and regulations and as per the Deed of
Hypothecation executed. |
|
Short particulars
of the property charged (Including location of the property) |
The Union Bank of
India Pune City Branch will have single and entire charge against the current
assets of the Borrower company kept at the Works and at the Registered Office
of the Company for which the Records have been maintained by the Company at
Works and at Registered Office of the Company. |
FIXED ASSETS
·
Plant and Machinery
·
Office Equipment
·
Xerox Machine
·
Furniture and Fixtures
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. 46.05 |
|
|
1 |
Rs. 75.19 |
|
Euro |
1 |
Rs. 66.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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.