1. Summary Information
|
|
|
Country |
|
|
Company Name |
Duplex
Industries Limited |
Principal Name 1 |
Mr. Anand Vishnu Satpute |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Anil Anand Satpute |
|
|
|
Registration # |
11-58307 |
|
Street Address |
CTS No. 812/a, S. No. 140, Flat No. 2, Prachi Residency Bhelkenagar
Kothrud, Pune – 411038, Maharashtra |
||
|
Established Date |
26.09.1990 |
SIC Code |
-- |
|
Telephone# |
91-20-24393244 /
25440156 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-243913571
/ 25382561 / 62 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Enamelled Copper Wires |
|
# of employees |
36 Approximately |
Product Name 2 |
Plated wires |
|
Paid up capital |
Rs. 86,219,000/- |
Product Name 3 |
Bunched Copper Wires |
|
Shareholders |
Directors or relatives of directors – 100% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
21 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (49) |
|
Related
Company |
|||
|
Relation
|
Country |
Company
Name |
CEO |
|
Associates/Subsidiaries : |
|
Galvano Techniques |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
942,790,000 |
Current Liabilities |
462,327,000 |
|
Inventories |
175,564,000 |
Long-term Liabilities |
351,781,000 |
|
Fixed Assets |
54,283,000 |
Other Liabilities |
9,205,000 |
|
Deferred Assets |
0 |
Total Liabilities |
823,313,000 |
|
Invest& other Assets |
4,948,000 |
Retained Earnings |
268,053,000 |
|
|
|
Net Worth |
354,272,000 |
|
Total Assets |
1,177,585,000 |
Total Liab. & Equity |
1,177,585,000 |
|
Total Assets (Previous Year) |
1,019,147,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
3,058,225,000 |
Net Profit |
93,593,000 |
|
Sales(Previous yr) |
2,392,104,000 |
Net Profit(Prev.yr) |
86,572,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
DUPLEX INDUSTRIES LIMITED (W.E.F. 28.06.2011) |
|
|
|
|
Formerly known: |
DUPLEX WIRES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
CTS No. 812/a, S. No. 140, Flat No. 2, Prachi Residency Bhelkenagar
Kothrud, Pune – 411038, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
26.09.1990 |
|
|
|
|
Com. Reg. No.: |
11-58307 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 86.219 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31300MH1990PTC058307 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNED00954C PNED01623G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACD6322M |
|
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|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Wires for
Electronics Parts, etc. |
|
|
|
|
No of Employees: |
36 [In Office : 4, In Branch : 2 and In Factory : 30] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
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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 regular 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Anil Satpute |
|
Designation : |
Director |
|
Contact No.: |
91-9823159515 |
LOCATIONS
|
Registered Office : |
CTS No. 812/a, S. No. 140, Flat No. 2, Prachi Residency Bhelkenagar
Kothrud, Pune – 411038, Maharashtra, India |
|
Tel. No.: |
91-20-24393244 / 25440156 |
|
Fax No.: |
91-20-243913571 / 25382561 / 62 |
|
E-Mail : |
csadityak@gmail.com ishwar@duplexwires.com |
|
Website: |
|
|
Area : |
1800 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
101, Prachi Residency, Bhelke Nagar, Kothrud, Pune – 411038, |
|
Tel. No.: |
91-20-25201336 / 25382561/ 62 |
|
Fax No.: |
91-20-25231263 |
|
E-Mail : |
|
|
|
|
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Administrative Office : |
Flat No. 2, Prachi Residency, Bhelkenagar, Kothrud, Pune – 411029, |
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
A-3, MIDC, Kurkumbh, Taluka Daund, District Pune – 413105, |
|
Tel. No.: |
91-2117-235271 / 235471 / 91-20-24393244 / 91-20-24391357 |
|
Fax No.: |
91-2117-235471 |
|
E-Mail : |
|
|
Area : |
2000 sq. mt. [Leased] |
|
|
|
|
Branches : |
Village |
|
Tel. No.: |
91-1729-235485 |
|
Fax No.: |
91-1792-235485 |
|
Area : |
2300 sq. ft. |
|
Location : |
Rented |
DIRECTORS
As on 02.06.2010
|
Name : |
Mr. Anand Vishnu Satpute |
|
Designation : |
Chairman |
|
Address : |
Plot No – 74, Lane No – 3, Natraj Co-operative Housing Society, Karve
Nagar, Pune – 411014, |
|
PAN No.: |
AFHPS4749G |
|
Date of Birth/Age : |
03.12.1936 |
|
Qualification : |
Bsc, D.E. Chemistry |
|
Date of Appointment : |
26.09.1990 |
|
|
|
|
Name : |
Mr. Anil Anand Satpute |
|
Designation : |
Managing Director |
|
Address : |
Plot No – 74, Lane No – 3, Natraj Co-operative Housing Society, Karve Nagar,
Pune – 411014, |
|
PAN No.: |
ACEPS8365E |
|
Date of Birth/Age : |
08.02.1971 |
|
Qualification : |
B.E. [Mech] MBA-Marketing |
|
Date of Appointment : |
01.01.1992 |
KEY EXECUTIVE
|
Name : |
Mr. Ishwar
Gurlhosur |
|
Designation : |
Factory Manager |
|
Qualification : |
B. E. [Met] |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Mr. Gaurissh
Lagu |
|
Designation : |
Finance
Manager |
|
|
|
|
Name : |
Mr. Suhas
Salekar |
|
Designation : |
Factory Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
[AS ON 02.06.2010]
|
Names of Shareholders |
|
No. of Shares |
|
Anand Vishnu Satpute |
|
1681400 |
|
Anil Anand Satpute |
|
5098037 |
|
Kanchan Anil Satpute |
|
1842500 |
|
Total
|
|
8621937 |
EQUITY SHARE BREAKUP [AS ON 31.09.2010]
|
Category |
|
Percentage
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wires for
Electronics Parts, etc. |
||||
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Products : |
Generic Names of principal Products of Company
|
||||
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Exports : |
|
||||
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Products : |
Wires |
||||
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Countries : |
|
||||
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|
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Imports : |
|
||||
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Products : |
Copper Rode |
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Countries : |
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||||
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|
||||
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Terms : |
|
||||
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Selling : |
L/C, Credit – 90 days |
||||
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|
|
||||
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Purchasing : |
DA, Credit – 30 days [Limit Rs. 3.000 Millions US$] |
PRODUCTION STATUS (As on 31.03.2010):-
|
Particulars |
Unit |
Installed
Capacity |
Utilized Capacity |
Actual Production |
|
Bare Copper Wire / Tinned Copper / Enameled copper Wire |
M.T. P.A. |
12800 |
8450 |
8450340 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers
|
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No. of Employees : |
36 [In Office : 4, In Branch : 2 and In Factory : 30] |
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Bankers : |
1548A, Commercial Branch,
Deccan Gymkhana, Branch Nandita,
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Facilities : |
Secured
Loan [31.03.2010] Rs
in millions
Unsecured Loan
[31.03.2010] Rs.
in millions
|
||||||||||||||||||||||||
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|
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Banking
Relations : |
-- |
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Auditors : |
|
||||||||||||||||||||||||
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Name : |
Kishor B. Phadke and Company Chartered Accountants |
||||||||||||||||||||||||
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Address: |
Flat No. 402, ‘’Surad’ Apartments, Opp. Karnataka High School [Old],
Off Dr. Ketkar Road, Erandwane, Pune – 411004, Maharashtra, India |
||||||||||||||||||||||||
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Tel
No. : |
91-20-25421860 / 25421862 |
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Mobile
No. : |
91-9822010116 |
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E-Mail
: |
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Associates/Subsidiaries : |
GALVANO
TECHNIQUES Address : S. No. 10/1/b,
Kaluram Ghule Farm, Nanded, Pune – 411041, Activities : Electroplating Bankers : Saraswat Bank |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8621937 |
Equity Shares (Out of above shares 876837 are issued for consideration other than
cash.) |
Rs. 10/- each |
Rs. 86.219
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
86.219 |
69.326 |
23.351 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
268.053 |
124.404 |
37.832 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
354.272 |
193.730 |
61.183 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
334.497 |
200.519 |
89.931 |
|
|
2] Unsecured Loans |
17.284 |
63.225 |
75.480 |
|
|
TOTAL BORROWING |
351.781 |
263.744 |
165.411 |
|
|
DEFERRED TAX LIABILITIES |
9.205 |
0.143 |
0.485 |
|
|
|
|
|
|
|
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TOTAL |
715.258 |
457.617 |
227.079 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
54.283 |
29.484 |
26.774 |
|
|
Capital work-in-progress |
2.938 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.010 |
1.711 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.705 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
175.564
|
123.868
|
133.689
|
|
|
Sundry Debtors |
686.618
|
775.425
|
454.988
|
|
|
Cash & Bank Balances |
5.136
|
7.556
|
2.306
|
|
|
Other Current Assets |
85.325
|
81.103
|
133.240
|
|
|
Loans & Advances |
165.711
|
0.000
|
0.000
|
|
Total
Current Assets |
1118.354
|
987.952
|
724.223
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
293.124 |
407.636 |
202.339
|
|
|
Current Liabilities |
137.298
|
122.514
|
311.502
|
|
|
Provisions |
31.905
|
31.380
|
10.782
|
|
Total
Current Liabilities |
462.327
|
561.530
|
524.623
|
|
|
Net Current Assets |
656.027
|
426.422
|
199.600
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
715.258 |
457.617 |
227.079 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3058.225 |
2392.104 |
1020.773 |
|
|
|
Other Income |
7.041 |
0.507 |
1.658 |
|
|
|
TOTAL (A) |
3065.266 |
2392.611 |
1022.431 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
2755.664 |
2141.800 |
924.247 |
|
|
|
Manufacturing Expenses |
19.914 |
38.983 |
10.973 |
|
|
|
Employee Expenses |
7.230 |
6.311 |
4.018 |
|
|
|
Selling and Distribution Expenses |
13.746 |
15.174 |
5.264 |
|
|
|
Administrative Expenses |
63.141 |
30.201 |
20.172 |
|
|
|
Increase/ Decrease in Stock |
0.929 |
[4.264] |
0.459 |
|
|
|
TOTAL (B) |
2860.624 |
2228.205 |
965.133 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
204.642 |
164.406 |
57.298 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
64.741 |
52.118 |
11.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
139.901 |
112.288 |
46.219 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.052 |
4.844 |
3.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
122.849 |
107.444 |
42.958 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.2560 |
20.872 |
7.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
93.593 |
86.572 |
35.458 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
846.459 |
819.605 |
326.400 |
|
|
TOTAL EARNINGS |
846.459 |
819.605 |
326.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
408.513 |
1564.479 |
708.519 |
|
|
TOTAL IMPORTS |
408.513 |
1564.479 |
708.519 |
|
|
|
|
|
|
|
|
|
|
Basic and
Diluted Earnings Per Share (Rs.) |
13.50 |
32.25 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.05
|
3.62
|
4.20
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.02
|
4.49
|
4.21
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.48
|
10.56
|
5.72
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.55
|
0.70
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.30
|
4.26
|
11.28
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.42
|
1.76
|
1.38
|
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Akshay
Insulator Conductors – Pune – Aditya Joshi – 91-20-24384244
- APS
Enterprises, Pune – Mr. Juneja 9975596491
- Desai Ele.
Private Limited – Mr. Sha – 91-20-25655445
- Amiras
Technology
- H. G. Mehta and
Company – Mr. Pankaj – 91-22-22614641
- National
CONTINGENT
LIABILITIES (RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
Guarantees Outstanding in respect of Customers Dept. (Note 1) |
50.950 |
507.384 |
|
Letter of Credit (Note 2) |
242.231 |
Nil |
|
Bills Discounted (Note 3) |
24.147 |
62.022 |
|
|
|
|
|
Total |
317.328 |
569.406 |
Note 1:
The company imports raw materials by using “advance License” issued by customs departments the said “Advance License” is received after extending corporate guarantee in favor of the customers department. The cumulative amount of live guarantee bonds (Equivalent of duty amount) as on 31.03.2010 is Rs.50.950 Millions. As the company will be exporting manufactured items within the permitted span of time, the said liability is a contingent in nature and hence disclosed accordingly.
Note 2:
The above mentioned contingent liability related to 90 days import usance LC as on balancer sheet date the above mentioned amount represent outstanding LC’s drawn in the favor of suppliers against the goods supplied, The amount will get crystallized as loans as and when the LC is matured.
Note 3:
The company has availed factoring facility from global trade finance (GTF), as on balance sheet date bills discounted with GTF are amounting to Rs.24.147 Millions.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10182400 |
|
Corporate
identity number of the company |
U31300MH1990PTC058307 |
|
Name of the
company |
DUPLEX WIRES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot E-Mail: csadityak@gmail.com |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of E-Mail: sbi045108@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of Mortgage
(Simple Mortgage). |
|
Date of
instrument Creating the charge |
07.09.2010 |
|
Amount secured by
the charge |
Rs.1000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per the
Agreement with the Bankers Terms of
Repayment: As per the
Agreement with Bankers Margin: As per Agreement
with Bankers Extent and
Operation of the charge: First Charge on
Hypothecated Assets viz. All Current Assets of the Company, between State
Bank of India, DBL and Yes Bank on Pari Passu basis and 1st Charge for DCC
along with TL lenders and 2nd Charge for other WC facilities on pari passu
basis between State Bank of India, DBL and Yes Bank on immovable property
situate at A-3, MIDC Kurkumbh, Village Kurkumbh, Daund and The Charge will
continue till full repayment of Loan. Only State Bank
of Others: Type of
Facilities: {CC [State Bank of India 300.000 millions, DBL 50.000 millions,
Yes Bank 50.000 millions], Bill Purchased/Discounting (sub limit of CC)
[State Bank of India (150.000 millions), DBL (50.000 millions), Yes Bank
(50.000 millions)], Import/Inland LC [State Bank of India 250.000 millions,
DBL 150.000 millions, Yes Bank 100.000 millions], One time Import LC (Sub
Limit of LC) [State Bank of India (50.000 millions), DBL (50.000 millions)],
Guarantee Limit [State Bank of India 50.000 millions], SLOC [State Bank of
India 30.000 millions], Forward Cover Facility [State Bank of India 20.000
millions] Total Working Capital Facility of Rs.1000.000 millions [State Bank
of India 650.000 millions + DBL 200.000 millions + Yes Bank 150.000
millions]. State Bank of |
|
Short particulars
of the property charged |
First Charge on
Pari Passu basis by way of hypothecation on the whole of the Current Assets
viz. Stock of Raw Materials, Stock in Process, Semi Finished and Finished Goods,
Stores and Spares not relating to Plant and Machinery (Consumable Stores and
Spares), Bills Receivable and Book-Debts and all other movables of the
Borrower including Plant and Machinery, both present and future whether now
lying loose or cases or which are now lying or stored in or about or shall
hereinafter from time to time during the continuance be brought into
factories, godowns situated at Kurkumbh, Village Dangyar Parwanu, Rampur
Mundana and Village Nariyal Purwanu and elsewhere the same may be. 1st Charge for
DCC along with Term Loan Lenders and 2nd Charge for all WC facility on pari
passu basis between SBI, DBL and Yes Bank on 1. All that piece
and parcel of property of Companybearing Plot No. A-3 adm 4050 Sq Mtrs in
Kurkumbh Industrial Area situated at village kurkumbh, Taluka Daund and 1st
Charge for DCC along with Term Loan Lenders on pari passu basis between SBI,
DBL and Yes Bank on 2. All that piece
and parcel of prop of Mr. Anand Satpute, bearing Flat No 3 adm 71.56 Sq Mtrs. 3. Prop of Mr.
Anil Satpute -Flat No 4 adm 78 Sq Mtrs, both Prop at No. 2 and 3 are situate
at S No 117 Warje, Haveli Pune. 4 and 5. All that
piece and parcel of property of Mrs. Kanchan Satpute and Anil Satpute,
bearing Shop No 09 adm 181.13 Sq Ft and Loft adm 5.105 Sq Mtrs and Shop No 10
adm 129.87 Sq Ft and loft adm 5.324 Sq Mtrs and 6. All that piece
and parcel of property of Mrs. Kanchan Satpute, bearing Flat No 202 Apt. No 6
adm 1201 Sq ft adm 111.57 Sq Mtrs together with terrace and car parking. 7. prop of Mrs. Kanchan, Mr. Anil and Anand Satpute, bearing Flat No 2, adm 98.94 sq mtrs with reserve car parking at 'Prachi Residency' Plot No 2 out of S No 140. All the immovable
property |
|
Date of latest
modification prior to the present modification |
23.07.2010 |
|
Particulars of
the present modification |
First charge for
DCC along with TL lenders on pari passu basis between SBI, DBL and Yes Bank
and 2nd Charge for other WC limits on pari passu basis on all immovable property
of the Company by way of simple mortgage is provided viz. All that piece and
parcel of property of Company bearing Plot No. A-3 adm 4050 Sq Mtrs situate
at MIDC Industrial Area, Kurkumbh at Village kurkumbh, Taluka Daund Dist
Pune, to secure the total Demand Cash Credit and Other WC facility of
Rs.1000.000 millions. |
Website Details:
Company Profile
Duplex Industries Ltd. produced its
first copper lead wire in 1996. Today they are known as the most reliable supplier
in copper wire and allied product market in
They are headquartered at
They crossed turnover of Rs.5 billion in 2011 & heading towards
their vision. They are an ISO 9000 certified company and are awarded as 'Star
Export House' by Govt of India, Ministry of Foreign Trade.
With their satisfied customers spread across domestic and global
markets, and their strong backward alliances for quality raw material and
reliable financial support, they are confident to continue posting the same
exponential growth, year-on-year.
FIXED ASSETS:-
- Building
- Computer
- Furniture and Fixture
- Office Equipments
- Plant and machinery
- Electrical Fittings
- Lab Equipments
- Land
- Printer
- Vehicles
Background
The company was incorporated as private
limited company in September 1990 with authorized share capital of the company
is Rs. 2.500 Millions as at December 1993.
The company is situated at MIDC, Kurkumbh,
Daund Taluka, Pune District on one acre land with RCC built up area 8000 square
feet.
The board of directors is constituted by
Mr. Anand V. Satpute [Chairman]
Mr. Anil A. Satpute [Managing Director]
The product portfolio is copper / copper
related with or without surface coatings in various shapes and sizes for
applications in electrical / electronics industries and energy distribution
infrastructures.
The company has developed its own unique
process of single or multiple layer electroplating process and requisite
process equipments for reel to reel continuous plating. The galvanic coating
technology it the company’s core strength.
The manufacturing facilities include wire
drawing, annealing, continuous reel to reel wire plating line and 8 strand dip
tinning line complete with pay off to take up on reels or pales. It has full
fledged testing laboratory facilities for chemical and physical parameters.
Being environmentally conscious organization
it has state of art effluent treatment plant for treating effluent.
The company enjoys about 35 % domestic market
share in Tin / Solder coated copper wires for application as lead wires in
electronics industries in India. Its customers base include many multinational
firms covering all over
In the year 2005 the company received ISO
9001-2000 certificate from TUV South Asia Private Limited.
The company achieved turn over of Rs. 170
Million in 2005 and Rs. 400 Million is 2006 till September.
After realizing the company’s potential fro
multifold growth in existing product portfolio as well introduction of newer
products with vertical integration of main raw material, copper, Duplex Wires
has entered into a strategic alliance.
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.45.87 |
|
|
1 |
Rs.75.15 |
|
Euro |
1 |
Rs.66.68 |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.