MIRA
INFORM REPORT
|
Report Date : |
19.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
DYLAN WELSH PROJECTS PRIVATE LIMITED |
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Registered Office
: |
Building A-5 / Flat No. 601/602, Raunak Park, Pokharan No. 2, Thane
(East)-400601, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.05.2008 |
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Com. Reg. No.: |
11-182168 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U74140MH2008PTC182168 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNED06394D |
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PAN No.: [Permanent Account No.] |
AACCD8900D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of High Quality Waste Water Treatment
Products. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Mandar Dattatray Prabhune |
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Designation : |
Director |
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Date : |
13.12.2011 |
LOCATIONS
|
Registered Office : |
Building A-5 / Flat No. 601/602, Raunak Park, Pokharan No. 2, Thane
(East)-400601, 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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Corporate Office : |
No. 5/B, Shailaja Apartments, Lane No. 5, Dahanukar Colony, Kothrud,
Pune-411038 Maharashtra India |
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Tel. No.: |
91-20-25469893/25448789 |
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Fax No.: |
91-20-25448789/25469893 |
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Branch Office: |
1/20, Leela Park Society, Shivtirth Nagar, Kothrud, Pune-411038,
Maharashtra, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Nilesh Rambhau Dumbre |
|
Designation : |
Director |
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Address : |
A-16, Parvat Darshan, Shree Nagar, Wagle Estate, Thane-400604,
Maharashtra, India |
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Date of Birth/Age : |
19.07.1979 |
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Date of Appointment : |
13.05.2008 |
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Din No.: |
02124172 |
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Name : |
Mr. Mandar Dattatray Prabhune |
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Designation : |
Director |
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Address : |
1/20, Leela Park Society, Shivtirth Nagar, Kothrud, Pune-411038,
Maharashtra, India |
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Date of Birth/Age : |
04.06.1974 |
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Date of Appointment : |
13.05.2008 |
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Din No.: |
00884274 |
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Name : |
Mrs. Archana Mandar Prabhune |
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Designation : |
Director |
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Address : |
1/20, Leela Park Society, Shivtirth Nagar, Kothrud, Pune-411038,
Maharashtra, India |
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Date of Appointment : |
09.09.2011 |
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Din No.: |
00877575 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
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Nilesh Rambhau Dumbre |
|
5000 |
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Mandar Dattatray Prabhune |
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5000 |
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Total |
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10000 |
As on 30.09.2011
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of High Quality Waste Water Treatment
Products. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
The Thane Janata Sahakari Bank Limited, Sreenagar Branch, Shreenagar
Housing Complex, Market Building, Sreenagar, Thane-400604, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tilakchandra Shirsat and Associates Chartered Accountants |
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Address : |
203, Shiva Estate, Lake Road, Bhandup (East), Mumbai-400078,
Maharashtra, India |
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Tel. No.: |
91-22-22938845 |
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Mobile No.: |
91-9821874436 |
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Pan No.: |
AKSPS0476N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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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 |
0.225 |
0.099 |
0.069 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.325 |
0.199 |
0.169 |
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LOAN FUNDS |
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1] Secured Loans |
0.044 |
0.450 |
0.000 |
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2] Unsecured Loans |
0.290 |
0.232 |
0.176 |
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TOTAL BORROWING |
0.334 |
0.682 |
0.176 |
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DEFERRED TAX LIABILITIES |
0.009 |
0.003 |
0.003 |
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TOTAL |
0.668 |
0.884 |
0.348 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.067 |
0.019 |
0.018 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.003 |
0.003 |
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 |
0.543
|
0.897 |
0.050 |
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Sundry Debtors |
2.000
|
1.660 |
0.463 |
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Cash & Bank Balances |
1.000
|
0.297 |
0.101 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.268
|
0.218 |
0.064 |
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Total
Current Assets |
3.811
|
3.072 |
0.678 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
2.895
|
2.044 |
0.229 |
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Provisions |
0.326
|
0.178 |
0.135 |
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Total
Current Liabilities |
3.221
|
2.222 |
0.364 |
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Net Current Assets |
0.590
|
0.850 |
0.314 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.016 |
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TOTAL |
0.668 |
0.884 |
0.348 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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GROSS TURNOVER |
|
14.655 |
5.849 |
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NET PROFIT |
|
0.184 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.94
|
14.59 |
3.20 |
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Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.38 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
Note: The
registered office of the company has been shifted from A-16, Parvat Darshan, Opposite Minar Bunglow, Shree Nagar, Wagle Estate,
Thane-400604, Maharashtra, India to the present address w.e.f.
01.11.2011.
FINANCIAL RESULTS:
The company has achieved net profits of Rs.0.184 millions during the
year.
OPERATION:
For the year, the gross turnover is Rs.14.655 millions as compared to
previous year Rs.5.849 millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10203977 |
|
Corporate identity number of the company |
U74140MH2008PTC182168 |
|
Name of the company |
DYLAN WELSH PROJECTS PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
A-16, Parvat Darshan, Opposite Minar
Bunglow, Shree Nagar, Wagle Estate, Thane-400604, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property [not being pledge] |
|
Particular of charge holder |
The Thane Janata Sahakari Bank Limited, Sreenagar Branch, Shreenagar
Housing Complex, Market Building, Sreenagar, Thane-400604, Maharashtra, India
|
|
Email |
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Nature of description of the instrument
creating or modifying the charge |
Hypothecation of goods and book debts. |
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Date of instrument Creating the charge |
30.05.2011 |
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Amount secured by the charge |
Rs.1.500 Millions |
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Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest ROI @ 15.50% p.a. i.e. 0.50% p.a. above
PLR. Terms of Repayment Repayable in 12 months i.e. Upto 31.05.12. Margin @ 40 %. Extent and Operation of the charge Charge is created for movable property and
book debts of the company in favour of the bank. |
|
Short particulars of the property charged |
Charge is secured against hypothecation of
all its present and future stocks of raw materials, work in progress,
finished goods, consumable stores and spares/ all its stocks of goods and
other Merchandise and also the book debts,
outstanding decrees, moneys receivable, claims and bills more particularly
described in the attached agreement. |
|
Particulars of the present
modification |
Charge is modified on account of
enhancement in cash credit facility by Rs. 1.010 millions in present limit of
Rs. 0.490 million thereby making total cash credit limit to Rs. 1.500
millions. |
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 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.52.81 |
|
|
1 |
Rs.82.00 |
|
Euro |
1 |
Rs.68.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.