MIRA INFORM REPORT

 

 

Report Date :

05.01.2011

 

Note:

Registered office of the company has been shifted from 304, Alpha, Hiranandani Business Park, Powai, Mumbai-400 076, Maharashtra, India to the present address w.e.f.10.09.2009

 

IDENTIFICATION DETAILS

 

Name :

DKSH INDIA PRIVATE LIMITED

 

 

Formerly Known As :

SIBER HEGNER INDIA PRIVATE LIMITED

 

 

Registered Office :

1001 and 1002, Alpha, 10th Floor, Hiranandani Business Park, Powai, Mumbai-400 076, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

17.04.1996

 

 

Com. Reg. No.:

11-98917

 

 

CIN No.:

[Company Identification No.]

U51900MH1996PTC098917

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMD12493F

 

 

PAN No.:

[Permanent Account No.]

AAACS9103M

 

 

Legal Form :

Private limited liability company.

 

 

Line of Business :

Trader and Exporter of Chemicals and Pharmaceutical Products.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1200000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Jean

Designation :

Senior Accountant

Contact No.:

91-22-61577037

Date :

04.01.2011

 

 

LOCATIONS

 

Registered Office :

1001 and 1002, Alpha, 10th Floor, Hiranandani Business Park, Powai, Mumbai-400 076, Maharashtra, India

Tel. No.:

91-22-61577037

Fax No.:

91-22-25707597

E-Mail :

mridul.basu@dksh.com

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Natale Kapri

Designation :

Chairman cum Managing Director

Address :

Via Assisi No.6, S. G. o. 4i, 81, Vanzago, Italy

Date of Birth/Age :

15.05.1970

Date of Appointment :

18.06.2007

 

 

Name :

Mr. Wolfgang Schanzenbach

Designation :

Director

Address :

Atago Forest Tower, 3-1-3606, Atago, 2- Chome, Minato- ku, Tokyo, Japan-1050002

Date of Birth/Age :

15.10.1957

Date of Appointment :

21.12.1999

 

 

Name :

Mr. Mridul Kumar Basu

Designation :

Whole time Director

Address :

Flat No.2201, 22nd Floor, Meridian, Hiranandani Meadows, Pokhran Road No.2, Thane West-400 610, Maharashtra, India

Date of Birth/Age :

17.12.1956

Date of Appointment :

03.05.2010

 

 

Name :

Mr. Sebastian Christian Heuer

Designation :

Director

Address :

Glarnischstrasse 111, 8708, Mannedorf, Switzerland

Date of Birth/Age :

10.07.1976

Date of Appointment :

29.06.2010

 

KEY EXECUTIVES

 

Name :

Ms. Jean

Designation :

Senior Accountant

 

 

Name :

Mr. Dipak Roy

Designation :

President

Date of Birth/Age :

61 Years

Qualification:

M. Sc. (rganic Chemistry), Diploma in Marketing Management

Date of Appointment :

04.04.009

 

 

Name :

Mr. M. K. Basu

Designation :

Vice President Finance

Date of Birth/Age :

53 Years

Qualification:

B. Com (Hons), C A. Inter

Date of Appointment :

05.08.1997

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.06.2010

Names of Shareholders

 

No. of Shares

DKSH Holding Limited, Switzerland

 

4799999

DKSH Holding Limited, Switzerland and Mr. Wolfgang Schanzenbach

 

1

Total

 

4800000

 

As on 30.06.2010

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Exporter of Chemicals and Pharmaceutical Products.

 

 

Products :

Item Code No. (ITC Code)

3906.9090

Product Description

Chlorinated Polypropylene

Item Code No. (ITC Code)

3404.9020

Product Description

Polyethylene Wax

Item Code No. (ITC Code)

3912.3929

Product Description

Hecnatrasolhbr

 

 

Exports :

 

Products :

Chemicals and Pharmaceutical Products

Countries :

Worldwide

 

 

Imports :

 

Products :

Raw Material

Countries :

Worldwide

 

 

Terms :

 

Selling :

L/C, Cash and Credit (30 Days)

 

 

Purchasing :

L/C, Cash and Credit (30 Days)

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers
  • End Users

 

 

No. of Employees :

62 (Approximately)

 

 

Bankers :

Not Divulged

 

 

 

Banking Relations :

-

 

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

Address :

252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai-400 028, Maharashtra, India

 

 

Holding Company :
  • DKSH Holding Limited, Zurich

 

 

Associates/Subsidiaries :
  • DKSH Australia Fty. Limited
  • DKSH Holdings (Malaysia) Berhad
  • DKSH (Cambodia) Limited
  • DKSH (China) Company Limited
  • DKSH Hong Kong Limited
  • PT DKSH Indonesia
  • DKSH Japan K.K. (Formerly known as Nihon SiberHegner K.K., Japan)
  • DKSH Korea Limited
  • Diethel and Company Limited, Laos
  • DKSH Corporate Shared Services Centre Sdn Bhd, Malaysia
  • Diethelm and Company Limited, Myanmar
  • DKSH New Zealand Limited
  • Edward Keller (Philippines) Inc.
  • Edward Keller (Shanghai)
  • DKSH (Singapore) Pte. Limited
  • DKSH Taiwan Limited
  • DKSH Thailand Limited
  • Diethelm Vietnam Company, Limited
  • DKSH Chile S.A
  • DKSH France S.A
  • DKSH GmbH, Germany
  • DKSH Great Britain Limited
  • DKSH Italia Srl
  • DKSH Netherlands B.V.
  • DKSH Switzerland Limited
  • DKSH North America

 

CAPITAL STRUCTURE

 

As on 30.06.2010

Authorised Capital :

No. of Shares

Type

Value

Amount

10000000

Equity Shares

Rs.10/- Each

Rs.100.000 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

4800000

Equity Shares

Rs.10/- Each

Rs.48.000 millions

 

Note:

Of the above 4799999 equity shares are held by DKSH Holding Limited, Zurich, the holding company and 1 equity shares is held jointly by DKSH Holding Limited, Zurich and Mr. Wolfgang Schanzenbach.

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2009

31.12.2008

31.12.2007

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

48.000

8.000

8.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

257.637

29.012

27.579

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

305.637

37.012

35.579

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

12.112

9.859

TOTAL BORROWING

0.000

12.112

9.859

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

305.637

49.124

45.438

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

95.322

4.365

4.215

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.621

0.593

0.335

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
71.347

20.685

12.670

 

Sundry Debtors
122.261

15.025

17.819

 

Cash & Bank Balances
115.578

29.924

21.089

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances
14.609

17.268

3.946

Total Current Assets
323.795

82.902

55.524

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
103.943

37.839

13.725

 

Other Current Liabilities
3.099

0.838

0.911

 

Provisions
7.059

0.059

0.000

Total Current Liabilities
114.101

38.736

14.636

Net Current Assets
209.694

44.166

40.888

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

305.637

49.124

45.438

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2009

31.12.2008

31.12.2007

 

SALES

 

 

 

 

 

TOTAL                                     (A)

517.703

161.737

105.587

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

452.923

157.246

94.985

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

64.780

4.491

11.602

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

0.492

0.471

0.662

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

64.288

4.020

10.940

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

13.698

1.149

1.178

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

50.590

2.871

9.762

 

 

 

 

 

Less

TAX                                                                  (H)

21.964

1.439

3.662

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

28.626

1.432

6.100

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

28.660

27.228

21.128

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

57.286

28.660

27.228

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

24.867

0.991

NA

 

 

Commission Earnings

12.688

11.328

NA

 

 

Service Fees

0.463

0.466

NA

 

TOTAL EARNINGS

38.018

12.785

NA

 

 

 

 

 

 

IMPORTS

309.242

88.817

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

13.00

1.79

-

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2009

31.12.2008

31.12.2007

PAT / Total Income

(%)
5.53

0.89

5.78

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
12.07

7.76

16.34

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.17

0.08

0.27

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.37

1.37

0.69

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
2.84

2.14

3.79

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Sundry Creditors:

Particulars

 

31.12.2009

(Rs. in millions)

31.12.2008

(Rs. in millions)

31.12.2007

(Rs. in millions)

Sundry Creditors

 

 

 

Due to Micro and Small Enterprises

-

-

-

Due to other than Micro and Small Enterprises

103.943

37.839

13.725

 

 

 

 

 

 

 

 

Fixed Assets:

·         Goodwill

·         Leasehold Improvement

·         Furniture and Fixtures

·         Office Equipment

·         Electrical Installation

·         Computers

·         Vehicle

 

 

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]         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.44.84

UK Pound

1

Rs.69.32

Euro

1

Rs.59.79

 

 

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

5

--PROFITABILIRY

1~10

5

--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

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

 

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.