MIRA
INFORM REPORT
|
Report Date : |
12.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
DCNPL PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DIGVIJAY COMMUNICATION AND NETWORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Ashoka Heritage, 55, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
21.02.2005 |
|
|
|
|
Com. Reg. No.: |
10-017364 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MP2005PTC017364 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing ECP Services, Construction Projects,
Infrastructure, Turnkey Projects and Investment Opportunities. |
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 116000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears a dip in the turnover of the company, however the networth appears to
be satisfactory. 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 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 PARTED BY
|
Name : |
Mr. Roopesh Gupta |
|
Designation : |
Manager |
|
Contact No.: |
91-9755590299 |
|
Date : |
10.01.2011 |
LOCATIONS
|
Registered Office : |
3rd Floor, Ashoka Heritage, 55, |
|
Tel. No.: |
91-731-2545299/ 2435387 |
|
Mobile No.: |
91-9755590299 (Mr. Roopesh Gupta) |
|
Fax No.: |
91-731-2545299/ 2435387 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Nandlal Moolchandji Jain |
|
Designation : |
Director |
|
Address : |
22, Vardhaman
Nagar, Near Gangwal Bus Stand, |
|
Date of Birth/Age : |
06.10.1948 |
|
Date of Appointment : |
21.02.2005 |
|
DIN No.: |
00452398 |
|
|
|
|
Name : |
Mrs. Sunanda Nandlal Jain |
|
Designation : |
Director |
|
Address : |
22, Vardhaman
Nagar, Near Gangwal Bus Stand, |
|
Date of Birth/Age : |
04.05.1953 |
|
Date of Appointment : |
21.02.2005 |
|
DIN No.: |
01090921 |
|
|
|
|
Name : |
Mr. Sanjay Nandlal Jain |
|
Designation : |
Director |
|
Address : |
22, Vardhaman
Nagar, Near Gangwal Bus Stand, |
|
Date of Birth/Age : |
10.10.1973 |
|
Qualification : |
Civil Engineering |
|
Date of Appointment : |
21.02.2005 |
|
DIN No.: |
01090488 |
|
|
|
|
Name : |
Mr. Nilesh Nandlal Jain |
|
Designation : |
Director |
|
Address : |
22, Vardhaman
Nagar, Near Gangwal Bus Stand, |
|
Date of Birth/Age : |
27.07.1976 |
|
Qualification : |
BE |
|
Date of Appointment : |
21.02.2005 |
|
DIN No.: |
01090504 |
|
|
|
|
Name : |
Mr. Azad Kumar Kanhaiyalal Shah |
|
Designation : |
Additional Director |
|
Address : |
42, Manbhavan Nagar, |
|
Date of Birth/Age : |
05.09.1947 |
|
Date of Appointment : |
30.10.2010 |
|
DIN No.: |
03292189 |
KEY EXECUTIVES
|
Name : |
Mr. Roopesh Gupta |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Nandlal Moolchandji Jain |
|
75000 |
|
Sunanda Nandlal Jain |
|
75000 |
|
Sanjay Nandlal Jain |
|
183500 |
|
Nilesh Nandlal Jain |
|
183250 |
|
Total
|
|
516750 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing ECP Services, Construction Projects, Infrastructure,
Turnkey Projects and Investment Opportunities. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||
|
|
|
|||||||||
|
Customers : |
Government/ Private Companies |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.N. Jhavar and Company Chartered Accountants |
|
Address : |
203, Sapphire House, 9, |
|
|
|
|
Related Party : |
|
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
516750 |
Equity Shares |
Rs.10/- each |
Rs.5.168
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 |
5.168 |
5.168 |
5.168 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.946 |
31.021 |
31.021 |
|
|
4] (Accumulated Losses) |
0.000 |
(8.192) |
0.000 |
|
|
NETWORTH |
29.114 |
27.997 |
36.189 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
27.742 |
|
|
2] Unsecured Loans |
0.156 |
0.200 |
4.324 |
|
|
TOTAL BORROWING |
0.156 |
0.200 |
32.066 |
|
|
DEFERRED TAX LIABILITIES |
0.012 |
0.008 |
0.028 |
|
|
|
|
|
|
|
|
TOTAL |
29.282 |
28.205 |
68.283 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.341 |
0.104 |
7.980 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
34.300 |
20.675 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
38.124 |
|
|
Sundry Debtors |
1.300
|
0.000 |
49.723 |
|
|
Cash & Bank Balances |
1.540
|
7.816 |
2.258 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.732
|
18.076 |
9.936 |
|
Total
Current Assets |
11.572
|
25.892 |
100.041 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.264
|
14.557 |
15.311 |
|
|
Other Current Liabilities |
4.521
|
3.509 |
11.136 |
|
|
Provisions |
0.212
|
0.500 |
13.425 |
|
Total
Current Liabilities |
16.997
|
18.566 |
39.872 |
|
|
Net Current Assets |
(5.425)
|
7.326 |
60.169 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.066 |
0.100 |
0.134 |
|
|
|
|
|
|
|
|
TOTAL |
29.282 |
28.205 |
68.28357 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3.136 |
117.974 |
104.991 |
|
|
|
Other Income |
1.709 |
3.131 |
0.463 |
|
|
|
TOTAL (A) |
4.845 |
121.105 |
105.454 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
0.000 |
44.800 |
76.497 |
|
|
|
Purchase Trading |
3.113 |
0.000 |
0.000 |
|
|
|
Administrative and Selling Expenses |
0.166 |
28.191 |
22.167 |
|
|
|
Preliminary Expenses written off |
0.034 |
0.034 |
0.034 |
|
|
|
Sales Tax Expenses |
0.022 |
2.616 |
0.794 |
|
|
|
Penalty Under ESIC |
0.014 |
0.000 |
0.000 |
|
|
|
Service Tax Expenses |
0.001 |
0.000 |
0.000 |
|
|
|
Loss on Account of Business Transfer |
0.000 |
11.325 |
0.000 |
|
|
|
Increase/ Decrease in Stocks |
0.000 |
38.124 |
(32.070) |
|
|
|
TOTAL (B) |
3.350 |
125.090 |
67.422 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.495 |
(3.985) |
38.032 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL CHARGES (D) |
0.116 |
3.038 |
2.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.379 |
(7.023) |
35.484 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.048 |
0.603 |
1.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.331 |
(7.626) |
34.393 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.215 |
0.566 |
13.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.116 |
(8.192) |
20.985 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.947 |
21.139 |
0.154 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14.063 |
12.947 |
21.139 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.16 |
(15.85) |
41.73 |
|
Expected Sales (2010-2011): Rs.500.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
23.03
|
(6.76) |
0.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
42.44
|
(6.46) |
0.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.17
|
(29.34) |
31.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
(0.27) |
0.95 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.59
|
0.67 |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68
|
1.39 |
2.51 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74999MP2005PTC017364 |
|
Name of the company
|
DIGVIJAY COMMUNICATION AND NETWORKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3rd Floor, Ashoka Heritage, 55, |
|
Type of charge |
Book Debts Floating Charge Others (Stocks and other current assets. Plant and Machinery.) |
|
Particular of
charge holder |
CIN No.:
L65110GJ1993PLC020769 Axis Bank
Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden
Ellisbridge, Ahmedabad – 380 006, Gujarat, India E-Mail: poza@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Term Loan
Agreement. Composite
Hypothecation Deed. Counter Indemnity
for Guarantee Limit. |
|
Date of
instrument Creating the charge |
22/02/2008 |
|
Amount secured by
the charge |
Rs.66.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC Limit
BPLR-2.00% pa i.e. 13% pa at present on monthly rests. Term Loan
BPLR-1.75% pa i.e. 13.25% pa at present on monthly rests. Terms of
Repayment: CC Limit and Bank
Guarantee limit on Demand. 3 year plus moratorium
period of 6 months from date of 1st Disbursement. Margin: CC Limit 25% on
stocks and 40% on Book Debts. Bank Guarantee
20% in cash/ Bank's fixed deposits. Term Loan 25% on
machinery being purchased. Letter of Credit
(Inland) (sub-limit of BG) 20% to be collected upfront and kept in FDR under
lien to the Bank. Extent and
Operation of the charge: CC Limit 37.500
millions Term Loan 9.000
millions Bank Guarantee
20.000 millions LC (within BG
Limit) (7.500 millions) |
|
Short particulars
of the property charged |
1st
Charge on current assets (present and future) of the company, by way of
hypothecation of stocks, receivables and other current assets. 1st
Charge on fixed assets (present and future) by way of hypothecation of machinery/
equipments and other movable fixed assets. |
CONTINGENT
LIABILITES: (As on 31.03.2010)
·
Sales Tax Demand pertaining to the F.Y. 2007-08 –
Rs.0.945 million.
FIXED ASSETS:
·
Computer and Printer
·
Plant and Machinery (Car-Indigo)
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.45.32 |
|
|
1 |
Rs.70.54 |
|
Euro |
1 |
Rs.58.70 |
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 |
NO |
|
--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.