MIRA INFORM REPORT

 

 

Report Date :

27.01.2011

 

Note : The given address has been shifted to the present registered office address.

 

 

IDENTIFICATION DETAILS

 

Name :

DSM ENGINEERING PLASTICS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Unit No. 401, 402, 4th Floor, NSGIT Park, Aundh, Pune – 411007, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

23.12.1998

 

 

Com. Reg. No.:

11-14523 / 117600

 

 

CIN No.:

[Company Identification No.]

U25209PN1998PTC014523 / U99999MH1998PLC117600

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNED03157A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of all kind of Plastics.

 

 

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 2023000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of DSM Engineering Plastic international BV,  Nederland.

 

It 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 DENIED BY

 

Name :

Mr. Swapnil

Designation :

Accounts Department

Date :

24.01.2011

 

 

LOCATIONS

 

Registered Office :

Unit No. 401, 402, 4th Floor, NSGIT Park, Aundh, Pune-411007, Maharashtra, India

Tel. No.:

91-20-66430800 / 25461075

Fax No.:

91-20-66430825 / 25455259

E-Mail :

knshmana@dsm.com

k.lakshmanan@dsm.com

Area:

15000 sq fts

Location:

Owned

 

 

Factory  :

Plot F40 MIDC Industrial Area, Taluka Shirur, Pune, India

Tel. No.:

91-2138-671981

Area:

15 Acers

Location:

Owned

 

 

Branches :

201-204, Century Arcade, Narangi Baug, Pune – 411 001,  Maharashtra

 

 

DIRECTORS

As on 20.09.2010 

 

Name :

Mr. Nitin Damodar Kothari

Designation :

Managing Director

Address :

Swapnil Apartments, Plot No. 38, Girija Society, Kothrud, MIT Road, Pune – 411 038, Maharashtra, India

Date of Birth/Age :

28.08.1960

Qualification :

B. Tech (Chemical Engineering)

Experience :

28 years

Date of Appointment :

04.12.1999

 

 

Name :

Mr. Jurgen Paulis

Designation :

Director

Address :

52 Belmont Road, Singapore - 269884

Date of Birth/Age :

05.08.1960

Date of Appointment :

20.02.2002

 

 

Name :

Mr. Karuppiah Lakshmanan

Designation :

Additional Director

Address :

301, Silverbill, Nytai Enclave Mohammadwadi, Pune – 411028, Maharashtra, India

Date of Birth/Age :

28.12.1962

Date of Appointment :

03.02.2000

 

 

Name :

Mr. Jayant Vasant Dhobley

Designation :

Additional Director

Address :

13/352, Jasmine, New MIG Colony, Bandra (East), Mumbai-400051, Maharashtra, India

Date of Birth/ Age:

05.03.1969

Date of Appointment :

10.10.2008

 

 

Name :

Mr. Rajiv Uttamchand Chopra

Designation :

Director

Address :

A 701, Som Vihar, New Delhi – 110029, Delhi, India

Date of Birth/ Age:

22.08.1960

Date of Appointment :

28.07.2009

 

 

KEY EXECUTIVES

 

Name :

Mr. Karuppiah Lakshmanan

Designation :

Company Secretary

Address :

301, Silverbill, Nytai Enclave Mohammadwadi, Pune – 411028, Maharashtra, India

Date of Birth/Age :

28.12.1962

Date of Appointment :

03.02.2000

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.09.2010

 

Names of Shareholders

No. of Shares

DSM Engineering Plastics International BV, (Netherlands)

2437499

DSM Engineering Plastics BV (Netherlands)

4

 

Equity Share Breakup (Percentage of Total Equity)

As on 20.09.2010

 

Category

 

 

Percentage

Foreign holdings (Foreign Institutional investor(s), Foreign Companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate Bodies or Others

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of all kind of Plastics.

 

 

Products :
  • Akulon
  • Arnite
  • Arnitel

 

  • Polybutylene Terephthalate – 3907.99
  • Polyamide – 3908.10

 

  • It’s sports products includes:-

 

  • DSM Agro
  • DSM Coating Resins
  • DSM Composite Resins
  • DSM Dyneema
  • DSM Elastomers
  • DSM Engineering Plastics
  • DSM Fibre Intermediates
  • DSM Food Specialties
  • DSM Melamine
  • DSM Nutritional Products
  • DSM Venturing and Business Development
  •     DSM Venturing and Business Development

 

 

GENERAL INFORMATION

 

Suppliers :
  • Polymer Industries India Limited
  • Sanghvi Techno Products
  • Plastic Shilp Udyog
  • Samvardhana Motherson Group
  • Gala Plastics Products.

 

 

No. of Employees :

Information not divulged by management.

 

 

Bankers :

ABN Amro Bank,  N V Sachapir Bhavan, Nariman Point, Mumbai, Maharashtra, India

 

 

Facilities:

Unsecured loans

31.03.2010

Rs. In Millions

31.03.2009

Rs. In Millions

Term Loan

Loan from DSM Engineering Plastics International BV – Foreign currency loan

(Rupees within one year Rs. Nil)

 

753.945

 

833.615

From Bank:

Cash Credit Facility

Short Term Loan

(Repayable within on year Rs. 160.000 Millions (Previous year Rs. 160.000 Millions))

(Facilities are secured by a corporate Guarantee executed by DSM Finance BV in favour of ABN Amro Bank NV)

 

84.976

0.000

 

166.745

50.000

Total

838.921

1050.360

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. R. Batliboi and Associates

Chartered Accountants

Address :

The Metropole, 1st Floor, Bundgarden Road, Pune – 411001, Maharashtra, India

Tel. No.:

91-20-66016000

Fax No.:

91-20-66015900

 

 

Holding Company:

DSM Engineering Plastics International BV, The Netherlands.

 

 

Associates/Subsidiaries :

·         ACF Industrial BV Heerlen

·         Acopal BV Heerlen

·         Agro Amino Acids BV (Triple A) ‘s Gravenhage

·         Arbodienst DSM BV Sittard 0 Geleen

·         Chemelot BV Sittard – Geleen

·         Chemelot BV: PolychemlabSittard – Geleen

·         Chemie Linz UK Limited, Redditch

·         Coginsa Side Chain China SL Barcelona

·         Copal BV Heerlen

·         Coapn Milk Testing Business Brescia

·         De Bonsberg Chemie Amsterdam BV

·         De Fejjenordsche Victualinenhandel BV Heelen

·         DEX- Plastomers VoF Heerlen

·         DRTL Export Overseas SL Barcelona

·         DSM (China) Limited, Shanghai

·         DSM Acrylonitrile BV Heerlen

·         DSM AFA VoFSittard – Geleen

·         DSM Agro Belgium NV Genk

·         DSM Agro BV Sittard – Geleen

·         DSM Agro Deutschland GmbH Dusseldrof

·         DSM Agro France SAS Beaurvais

·         DSM Agro Services BV Sittard  - Geleen

·         DSM Agro Ucam BV Sittard – Gelend

·         DSM Anti Infectives China Holding I BV Heerlen

·         DSM Anti Infectives China Holding II BV Heerlen

·         DSM Anti- Infectives BV Delft

·         DSM Anti- Infectives Chemferm SA Barcelona

·         DSM Anti – Infectives Egypt SAEEI Horia Heliopolis

·         DSM Anti- Infectives India Limited. Toansa

·         DSM Anti- Infectives Sweden AB Stragnas

·         DSM Nutritional Products Australia Pty Limited, Wagga Wagga

·         DSM Nutritional Products Canada Inc. Ayr

·         DSM Nutritional Products Centroamerica y El Caribe SA Puerto Cortes

·         DSM Nutritional  Products Chile S A Santiago De Chile

·         DSM Nutritional Products China Holding BV Heerlen

·         DSM Nutritional Products China Holding

·         GmbHKaiseraugst

·         DSM Nutritional Products Colombia SABogota

·         DSM Nutritional Products Costa Rica SASan Jose

·         DSM Nutritional Products Dominicana SASanto Domingo

·         DSM Nutritional Products Ecuador SAQuito

·         DSM Nutritional Products Europe AGBirsfelden

·         DSM Nutritional Products Frnace SASVillage – Neuf

·         DSM Nutritional Products GmbHGrenzach – Wyhlen

·         DSM Nutritional Products Guatemala SAVilla Nueva

·         DSM Nutritional Products Hellas Limited Erythrea

·         DSM Nutritional Products Holding AGBasel

·         DSM Nutritional Products Hungary KftBudapest

·         DSM Nutritional Products Iberia SAmMadid

·         DSM Nutritional Products Inc. New Castle

·         DSM Nutritional Products India Private Limited, Mumbai

·         DSM Nutritional Products Interamerica SAEL Dorado

·         DSM Nutritional Products Malaysia Sdn. Bhd. Juala Lumpur

·         DSM Nutritional Products Mexico SA De CV Jalisco

·         DSM Nutritional Products Nedeland BVVenlo

·         DSM Nutritional Products NVDeinze

·         DSM Nutritional Products Peru SALima

·         DSM Nutritional Products Philippines, Inc. Makati City

·         DSM Nutritional Products South Africa (Private) Limited Isando

·         DSM Nutritional Products Sp. Z.o.o. Mszczonow

·         DSM Nutritional Products Taiwal Limited, Taipei

·         DSM Nutritional Products Uruguay SAMontevideo

·         DSM ASP BV Heerlen

·         DSM ASpartaam BV Sittard – Geleen

·         DSM Assurantie Kantoor BVHeerlen

·         DSM Atlas BVHeerlen

·         DSM Benis Maddleri Limited Stil Gebze / Kocaeli

·         DSM Beteiligungsgesellschaft mbH Dusseldorf

·         DSM Biologics Company, BV Groningen

·         DSM Biologics Company, Inc. Montreal

·         DSM Biiologics Holding, Inc.Montreal

·         DSM Biological Materials BV Heerlen

·         DSM Business Support BV Heerlen

·         DSM Capua SpACapua

·         DSM Central Europe Sro Prague

·         DSM Chemicals North Americal Inc. Wilmington

·         DSM China Holding AGKaiseraugst

·         DSM China Holding I BV Heerlen

·         DSM China Holding II BV Heerlen

·         DSM Citric Acid (Wuxi) Limited, Wuxi City

·         DSM Coating Resins (China) Holding BVZwolle

·         DSM Coating Resins (Far East) Company Limited Hong Kong

·         DSM Coating Resins Europe BVZwolle

·         DSM Coating Resins International Holding BVZwolle

·         DSM Commercial Coordination and Participations , BV Heerlen

·         DSM Composite Resins (China) Holding BVZ Wolle

·         DSM Composite Resins (Shanghai) Limited, Shanghai

·         DSM Composite Resins AGSchaffhausen

·         DSM Composite Resins Deutschlnad GmbH Ludwigshafen

·         DSM Composite Resins France SAS Compiegne

·         DSM Composite Resins Holding International BVZwolle

·         DSM Composite Resins Italia SrLfilago

·         DSM Composite Resins Nederland BVZwolle

·         DSM Composite Resins UK Limited Ellesmere Port

·         DSM Composite Resins, Inc. Wilmington

·         DSM Copolymer, Inc. Wilmington

·         DSM Copolymer, Inc SBR Baton Rouge

·         DSM Corporate Insurances AG Schaffhausen

·         DSM DAB BV Heelen

·         DSM Deretil SA BAucelona

·         DSM Desotech (China) Holding BVZ wolle

·         DSM Desotech BV Hoek Van Holland

·         DSM Desotech Specialty Chemicals (Shganghai) Limited, Shaghai

·         DSM Desotechm Inc., Wilmington

·         DSM Nutritional Products Venezuela SA Caracas

·         DSM Nutritional Products Vietnam Limited Ho. Chi Minch City]

·         DSM Nylatron BV Heerlen

·         DSM Onroerend Goed Exploitatie Mij BV Heerlen

·         DSM Pension Serivices BV Heerlen

·         DSM Personlized Nutritition BV Delft

·         DSM Pharma Chemicals North America Inc. Parsipanny

·         DSM Pharma Chemicals Regensburg GmbH Regensburg

·         DSM Pharma Chemicals Venlo BVV enlo

·         DSM Pharma Chemicals Venlo BV : HR Venlo

·         DSM Pharmaceutical Products, Inc. Wilmington

·         DSM Pharmaceuticals, Inc, Wilmington

·         SM Plastomers BV Heerlen

·         DSM Poland Sp. Z..o.o. Warsaw

·         DSM Premi Test BV Heerlen

·         DSM Produtos Nutritionais Brasil Limited Sap Paulo

·         DSM Raffinaderji VN Heerlen

·         DSM RE Switzerland AG Schaffausen

·         DSM Research BV Heerlen

·         DSM (Far East) Limited, Ping – Tung Hsien

·         DSM BV Zwolle

·         DSM Resins Esparia SA Barcelona

·         DSM Resins Holding (Nderland BVZwolle

·         DSM Resins Scandinavia AB Landskrona

·         DSM Resins US Inc, New Jersey

·         DSM RIM Nylon BVHeerlen

·         DSM Sales Offices BV Heerlen

·         DSM Sacndinavia AB Grabo

·         DSM Schadeverzekeringsmaatschappij NV Heerlen

·         DSM Services Mexico, SA de CVEI Salto

·         DSM Services USA, Inc. Augusta

·         DSM Singapore Industrial Pte Limited Taiwan Branch Taiperi

·         DSM Singapore Industrial Pte Limited, Singapore

·         DSM Solutech BV Heelren

·         DSM Sourucing BV Heerlen

·         DSM South America Limited Sao Paulo

·         DSM Specia Products BV Rotterdam

·         DSM Sp;ecialty Adhesives BV Heerlen

·         DSM Specialty Compounds NV Genk

·         DSM Specialty Intermediates BV Heerlen

·         DSM Specialty Packaging BV Heerlen

·         DSM Seutschland GmbH Dussldorf

·         DSM Dyneema BV Sittard –Geleen

·         DSM Dyneema International NV Heerlen

·         DSM Dyneema Technical Serivcies, Inc. Wilmington

·         DSM Dyneema, LLC Wimington

·         DSM Eastern Europe Moscow

·         DSM Elastomeros Brasil Limited, Triunfo, Rio Grnde Do sul

·         DSM Elastomers Asia Singapore

·         DSM Elastomes Europe BV Heerlen

·         DSM Elastomers Trading BV Heerlen

·         DSM Energy (Rjjn) BV Heerlen

·         DSM Energy BV Heerlen

·         DSM Energy (Q1) BV Heerlen

·         DSM Energy Consultants (DEC ) BV Heerlen

·         DSM Energy Netherlands BV Heerlen

·         DSM Engery Tranportation BV Heerlen

·         DSM Engineering Plastics (China) BV Sitaard – Geleen

·         DSM Engineering Plastics (Emmen|) BV Heerlen

·         DSM Engineering Plastics (Jiangsu) Company Limited, Jiangyin

·         DSM Engineering Plastics (PBT) BV Heerlen

·         DSM Engineering Plastics Asia Pacific Singapore

·         DSM Engineering Plastics BV Heerlen

·         DSM Engineering Plastics International BV Sittard – Geleen

·         DSM Engineering Plastics Korea PTE Limited Seoul

·         DSM Engineering Plastic, Inc Wilimington

·         DSM Espana SA Barcelona

·         DSM Eternal Resins (Kunshan ) Company Limited, Jiangsum

·         DSM Executive Services BV Heerlen

·         DSM Fibre Intermediates BV Heerlen

·         DSM Fibre Intermediates China BV Sittartd – Geleen

·         DSM Fibre Intermediates Enterprises BV Heerlen

·         DSM Fibre Intermediates International NV Sittard – Geleen

·         DSM Fibre Intermediates Investments BV Heerlen

·         DSM Fibre Intermediates Trading (Sahngahai)

·         Company Limited Shanghai

·         DSM Finance (Belgium ) Gewone Commanditaire

·         DSM Finance BV Heerlen

·         DSM Finance SAS Puteaux

·         DSM Fire Chemicals (Shanghai) Limited, Shanghai

·         DSM Fine Chemicals 2 BV Heerlen

·         DSM Fine Chemicals Austrial Nfg. GmbH and

·         Company KGLinz.

·         DSM Specialty Polyethylenes BV Heerlen

·         DSM Swentibold BV Swentibold

·         DSM Syntech Synthetic Resins (Foshan) Company Limited Shunde

·         DSM Taipei Limited Taipei

·         DSM Thermoplastic Elastomers BV Heerlen

·         DSM Thermoplastic Elastomers, Inc. Wilmington

·         DSM Tortan BV Heerlen

·         DSM Trading (Shanghai) Limited, Shanghai

·         DSM United Kingdom Limited, Redditch

·         DSM Venturing BV Heerlen

·         DSM Verwaltungs – GmbH Dussldof

·         DSM Vision 2005 BV Heerlen

·         DSM Vitamins (Human) Limited Heng Yang City

·         DSM Vitamins (Shandong) Limited Shandong

·         DSM Vitamins (Shanghai) Limited Shanghai

·         DSM Vitamins Trading (Shanghai ) Company Limited, Shanghai

·         DSM White Biotechnology BV Delft

·         EdeA VopFsittard- Geleen

·         Euroresins Benelux BV Weert

·         Euroresins France Compiengne

·         Euroresins Italia SrL Filago

·         Euroresins SA Barcelona

·         Euroresins Scandinavia A/S Lysaker

·         Euroresins UK Limited, Ellesmere Port

·         Fermentass NV Curracao

·         Ferres BV Draft

·         Fersinsa Gist – Brocades SA de CV Ramos Arizpe

·         Fersinsa Internatioal BV Draft

·         Feisinsa Mexico SA de CV Ramos Arizpe

·         Finalor Limited Altdorf

·         Food Integredients Deutchland Verwltungsgesllschaft MbHW eme

·         Frencken NV Arendonk

·         GB/ Bio- Intermidiair holding BV  Gromingen

·         Gleen Utility Leidingen (GUL) BV Heerlen

·         Georgia Monomers Company, LLC Augusta

·         Gist-Brocades Beheer BV Delft

·         Gist- Brocades Bheer II BVD Delft

·         Gist- Brocades Beheer III BV Delft

·         Gist- Brocades Beheer V BV Delft

·         Gist-Brocades Holding AG Schaffhausen

·         Gist-Brocades Holding BV Delft

·         DSM Fine Chemicals BV Heerlen

·         DSM Fine Chemicals GmbH Linz

·         DSM Food Specialities (Shanghai) Limited Shanghai

·         DSM Food Specialties Argentina SABuenos Aires

·         DSM Food Specialties Autralia Pty Limited Moorebank

·         DSM Food Specialties BV Delft

·         DSM Food Specialties Chile SA Santiago De Chile

·         DSM Food Specialties China Holding I BV Delft

·         DSM Food Specialties France SA S Seclin

·         DSM Food Specialties Germany GmbH Dusseldorf

·         DSM Food Specialties Italy SpA Lachiarella

·         DSM Food Specialties Limited, Sti Izmir

·         DSM Food Specialties Meltagel BV Delft

·         DSM Food Specialties Poland Sp. Z.o.o. Warsaw

·         DSM Food Specialties Singpore, Singapore

·         DSM Food Specialties Spain SL Barcelona

·         DSM Food Specialties Superdex SASSt Clar

·         DSM Food Specialties UK Limited, Heanor – Derrbyshire

·         DSM Food Specialties USA, Inc, Wilmington

·         DSM France SA Puteaux

·         DSM Funtional Coatings BV Heerlen

·         DSM Gist France SAS Seclin

·         DSM Gist Holding BV Heerlen

·         DSM Gist Services BV Delft]

·         DSM Gist Spain 20000 SL Barce;pma

·         DSM High Performance Polythylens BV Heerlen

·         DSM Holding Company USA, Inc, Wilmington

·         DSM Hungary Kft Budapest

·         DSM Industrial Services BV Heerlen

·         DSM Innovational Inc. Parsipanny

·         DSM IP Assets BV Heerlen

·         DSM Italia Sr LComo

·         DSM Japan Engineering Plastics KK Tokyo

·         DSM Japan KK Tokyo

·         DSM Kunztharze GmbH Meppen

·         DSM Life Scuience Products Internatinal GmbH Linz

·         DSM Limburg BV Sittard – Geleen

·         Gist- Brocades holding Limited, Heanor Derbysihre

·         Gist-Brocades Holding Pty Limited Moorebank

·         Gist- Brocades International BV Heerlen

·         Gist- Brocades NV Cujacao

·         Greathide BV Heerlen

·         Holland Swetener Company VoF Sittart – Geleen

·         Holland Sweetener North America, Inc. Wilington

·         Lazi BV Heerlen

·         Industiele Handelmaatschappij Basileia BV Schiedam

·         Interfem BV Delft

·         Istituto Della Vitamine S.P.A. Segrate

·         Japan Fine Coatings Company Limited Tokyo

·         Jinling DSM Resins Company Limited, Nanjing

·         JS Mining SA Santiago

·         Koniklijke DSM N.V : Concern Heerlen

·         Koniklijkr FM N.B. : DBA and JECC Herlen

·         Koininklijke DN N.V. : Treasury Heelen

·         Kunstmesthandle Van Breen BV Rotterdam

·         Limburg Raffinaderij BV Heerlen

·         Limburg Scheepvaart Kantoor BV Maasbracht

·         Meltgel Voffoxhol

·         Mij tot Exploitaie Van Kooksovengassen ‘Mekog’ BVIJmuiden

·         Nederlandse Dieetzoutenfabriek BV Heerlen

·         Neo Resins de Mexico SA de CV Toluca

·         Neo Resins Polymeren Vertrieb GmbH Vienna

·         Neo Resins Sri Milan

·         Neo Resins, Inc. Saint John

·         Noordgastranport BV’s Gravenhage

·         Intwikkeling En Participatiemij (OPM) BV Heerlen

·         P.T. DSM Kaltim Melamine Jakarta

·         P.T. DSM Nutritional Products Indonesia Jakarta

·         Parnako Engineering AG Flaach

·         Pentapharma Basel

·         Pentapharm AG Basel

·         Pentapharm Do Brasil Limited A Uberlandia

·         Pentapharm Holding AG Basel

·         Pentapharm Japan Corp Tokyo

·         Pharmaceutical Company Limited, Zibo

·         PV Mining SA Santiago

·         Reko BV Sittard- Geleen

·         Re-tech BV Sittard – Geleen

·         DSM Engineering Plastics Asia Pacific Singapore 

·         DSM Anti- Infectives India

·         DSM Engg Plastics (Jiangsu)Company Limited DSM Engg Plastics BV

·         DSM NV Concern

·         DSM Dyneema BV

·         DSM New Business Support B. V.

·         DSM Engineering Plastics International BV

·         DSM Anti- Infectives BV

·         DSM JAPAN ENGG. PLASTICS KK

·         DSM IT BV

·         DSM SC Genk NV

·         DSM (China) Limited

 

 

 

CAPITAL STRUCTURE

 

As on 20.09.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

25000000

Equity Shares

Rs. 10/- each

Rs. 250.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

24375000

Equity Shares

Rs. 10/- each

Rs. 243.750 Millions

 

Note:

 

i)                     24374995 (Previous Year 24374995) Equity Shares of Rs. 10 each fully paid are held by the Holding Company DSM Engineering Plastics International BV, The Netherlands and 5(previous year: 4) equity shares held by DSM Engineering Plastics BV

ii)                   11375000 Equity Shares of Rs. 10 each are allotted as fully paid up bonus shares by utilization of profit and loss account)

 

 

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

243.750

243.750

195.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

261.891

150.423

231.179

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

505.641

394.173

426.179

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

838.921

1050.360

825.732

TOTAL BORROWING

838.921

1050.360

825.732

DEFERRED TAX LIABILITIES

23.842

12.489

0.000

 

 

 

 

TOTAL

1368.404

1457.022

1251.911

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

899.287

953.106

108.094

Capital work-in-progress

17.286

13.372

405.445

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

4.052

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

250.603

208.515

341.608

 

Sundry Debtors

465.166

266.673

291.963

 

Cash & Bank Balances

1.325

1.402

309.715

 

Other Current Assets

0.000

83.896

50.591

 

Loans & Advances

151.990

153.022

60.363

Total Current Assets

869.084

713.508

1054.240

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

297.631

177.527

259.490

 

Other Current Liabilities

104.435

38.805

46.649

 

Provisions

15.187

6.633

13.780

Total Current Liabilities

417.253

222.965

319.919

Net Current Assets

451.831

490.543

734.320

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

1368.404

1457.021

1251.911

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

Income

 

 

 

 

 

Other Income

 

 

 

 

 

TOTAL                                     (A)

2174.730

1409.230

1579.410

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Other Expenditure

1864.560

991.970

1380.320

 

 

TOTAL                                     (B)

1864.560

991.970

1380.320

 

 

 

 

 

Less

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

310.170

57.260

199.090

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

58.370

43.580

14.580

 

 

 

 

 

 

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

251.800

13.680

184.510

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

71.910

27.100

30.720

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

179.890

(13.420)

153.790

 

 

 

 

 

Less

TAX                                                                  (I)

68.420

18.580

59.600

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

111.470

(32.000)

94.190

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of Goods at F.O.B Value

82.913

21.704

29.943

 

 

Services charges and commission (gross)

3.437

4.960

4.482

 

 

Reimbursement of exenses

18.376

15.513

11.786

 

TOTAL EARNINGS

104.726

42.177

46.211

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Material

884.496

608.995

533.856

 

 

Capital Goods

0.000

13.942

91.233

 

 

Finished Goods

203.491

114.754

178.754

 

TOTAL IMPORTS

1087.987

737.691

803.843

 

 

 

 

 

 

Earnings Per Share (Rs.)

4.57

(1.31)

3.86

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)

5.12

(2.27)

5.96

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.17                                                                                                                                                                                                                                         

(0.80)

9.78

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.35

(0.03)

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.48

3.23

2.69

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.08

3.20

3.29

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sundry Creditor:

 

Particular

31.03.2010 (Rs In Millions)

31.03.2009 (Rs In Millions)

31.03.2008 (Rs In Millions)

Total outstandings due of micro and small enterprises

10.404

0.837

6.734

Total outstandings due of creditors other than micro and small enterprises

287.227

176.690

252.756

Total

297.631

177.527

259.490

 

 

CHANGE OF ADDRESS :

 

The situation of the registered office of the company has been shifted from ‘Ashirwad’ 110/12, Erandwane, Prabhat Road, Lane No. 14, Throat Colony, Pune – 4, Maharashtra, India to the present address w.e.f. 06.11.2008

 

OPERATION :

 

The company has growth of 54% over the last year. The increase is mainly due to strong domestic growth in Automotive and E and E sector. Five fold growth in EDITDA in the year. The interest cost was higher in the current year because of external borrowing for setting up compounding plant at Ranjangoan.

 

DSM continue to maintain its market share in Engineering Plastics both in Automobile and E and E segment. Their products are used in a variety of end-use markets, each of which comes with its own particular dynamics. This includes the automotive, electrical and electronics industry. They are constantly developing new applications,

such as new materials for Automotive and electronic components through the means of replacing reinforced plastics for steel.

 

Operational Excellence

 

Operational excellence continues to be an important area in the pursuit of sustainable value creation. DSM enjoys a strong track record in establishing efficiency enhancements which clearly represent step changes in performance and add to the bottom line. In the current year they are implemented SAP and whole of Corporate

Compliance. The SAP went live in May 1, 2010

 

The company has done engagement survey with its employee and feedback were analysed and corrective actions taken, they shall be repeating the same in the year 2010-11.

 

Cost Reduction Initiatives

 

Continuous focus on Cost Reduction has enabled the company to remain competitive.

 

 

Fixed Assets:

 

·         Plant and Machinery

·         Office Equipments

·         EDP Equipments

·         Intangibles

·         Furniture and Fixture

·         Leasehold Improvements

·         Leasehold Land

·         Factory Building

·         Vehicles

 

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.45.53

UK Pound

1

Rs.72.77

Euro

1

Rs.62.14

 

 

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

 

43

 

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.