MIRA
INFORM REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
DBM GEOTECHNICS AND CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Centaur House, B/301, 3rd Floor, Shanti Nagar Industrial
Estate, Near Grand Hyatt Hotel, Vakola, Santacruz (East), Mumbai – 400 055,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.10.1993 |
|
|
|
|
Com. Reg. No.: |
11-074683 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.86.564
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1993PTC074683 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing sound geotechnical construction services to civil
engineering projects. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 947000 |
|
|
|
|
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Praful Pasad |
|
Designation : |
Account Manager |
|
Date : |
01.06.2011 |
LOCATIONS
|
Registered Office : |
Centaur House, B/301, 3rd Floor, Shanti Nagar Industrial
Estate, Near Grand Hyatt Hotel, Vakola, Santacruz (East), Mumbai – 400 055,
Maharashtra, India |
|
Tel. No.: |
91-22-67042336-40 |
|
Fax No.: |
91-22-67042334 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Dhyaneshwar Bhagwan Mahajan |
|
Designation : |
Chairman and Managing Director |
|
Address : |
B/201, Vasant Vihar, |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
M.E. (Geotech), S.I.G.S. M.S.S.M.G.E. |
|
Date of Appointment : |
22.10.1993 |
|
DIN No.: |
00810014 |
|
|
|
|
Name : |
Mrs. Hansa Dhyaneshwar Mahajan |
|
Designation : |
Director |
|
Address : |
B/201, Vasant Vihar, |
|
Date of Birth/Age : |
47 Years |
|
Date of Appointment : |
22.10.1993 |
|
DIN No.: |
00810049 |
|
|
|
|
Name : |
Mr. Ashish Dhyaneshwar Mahajan |
|
Designation : |
Executive Director |
|
Address : |
B/201, Vasant Vihar, |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
B.E. (Geotech), MBA |
|
Date of Appointment : |
01.08.2002 |
|
DIN No.: |
00809995 |
|
|
|
|
Name : |
Mr. Sachin Dhyaneshwar Mahajan |
|
Designation : |
Executive Director |
|
Address : |
B/201, Vasant Vihar, |
|
Date of Birth/Age : |
27 Years |
|
Qualification : |
B.E. (Geotech), MBA |
|
Date of Appointment : |
22.10.1993 |
|
DIN No.: |
00810082 |
KEY EXECUTIVES
|
Name : |
Mr. Praful Pasad |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dhyaneshwar Bhagwan Mahajan |
|
2587180 |
|
Hansa Dhyaneshwar Mahajan |
|
2582180 |
|
Ashish Dhyaneshwar Mahajan |
|
1684000 |
|
Sachin Dhyaneshwar Mahajan |
|
1686500 |
|
D.B. Mahajan (HUF) |
|
116500 |
|
Total |
|
8656360 |
As on 31.03.2011
|
Names of Allottees |
|
No. of Shares |
|
D.B. Mahajan |
|
1500000 |
|
Total |
|
1500000 |
As on 25.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing sound geotechnical construction services to civil
engineering projects. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
v
New India Co-Operative Bank Limited v
ICICI Bank Limited v
State Bank of v
Syndicate Bank v
Standard Chartered Bank v
HDFC Bank Limited, HDFC Bank House, Senapati Bapat
Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India v
Citi Bank N.A., Citi Business, Citi Bank Centre,
2nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Note: Secured Loans from Banks are secured against by mortgage of fixed assets (Plant, Machinery and Vehicles)
Note: Unsecured
Loans from Banks are taken against the Personal Guarantees of Directors. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T.N. Gala and Associates Chartered Accountants |
|
Address : |
30, |
|
Income-tax
PAN of auditor or auditor's firm : |
AACPG7703N |
CAPITAL STRUCTURE
After 25.09.2010
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 |
|
18812720 |
Equity Shares |
Rs.10/- each |
Rs.188.127
millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8656360 |
Equity Shares |
Rs.10/- each |
Rs.86.564
millions |
|
|
|
|
|
(Out of above 7790724 shares are issued for consideration other than
cash)
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 |
86.564 |
86.564 |
8.656 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
150.294 |
57.197 |
94.352 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
236.858 |
143.761 |
103.008 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
473.318 |
93.438 |
125.218 |
|
|
2] Unsecured Loans |
13.851 |
14.596 |
20.889 |
|
|
TOTAL BORROWING |
487.169 |
108.034 |
146.107 |
|
|
DEFERRED TAX LIABILITIES |
22.452 |
16.144 |
10.766 |
|
|
|
|
|
|
|
|
TOTAL |
746.479 |
267.939 |
259.881 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
445.068 |
205.858 |
179.740 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.209 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
297.890
|
38.504 |
0.000 |
|
|
Sundry Debtors |
256.609
|
176.187 |
125.173 |
|
|
Cash & Bank Balances |
2.216
|
1.436 |
1.014 |
|
|
Other Current Assets |
232.481
|
93.898 |
83.652 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
789.196
|
310.025 |
209.839 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
171.593 |
90.034 |
91.904 |
|
|
Other Current Liabilities |
316.192
|
157.910 |
38.003 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
487.785
|
247.944 |
129.907 |
|
|
Net Current Assets |
301.411
|
62.081 |
79.932 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
746.479 |
267.939 |
259.881 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Contract Fees |
1320.699 |
712.106 |
396.688 |
|
|
|
Other Income |
|
|
1.377 |
|
|
|
Increase/(Decrease) in Work in Progress |
|
|
12.730 |
|
|
|
TOTAL (A) |
1320.699 |
712.106 |
410.795 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1184.058 |
|
281.300 |
|
|
|
Other Expenses |
|
|
68.958 |
|
|
|
TOTAL (B) |
1184.058 (Including
interest & depreciation) |
645.124 |
350.258 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
60.537 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST ON
BORROWINGS (D) |
|
|
10.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
49.658 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
6.349 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
136.641 |
66.982 |
43.309 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
38.481 |
26.229 |
15.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
98.160 |
40.753 |
27.862 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
90.000 |
35.000 |
25.000 |
|
|
|
Proposed Dividend |
4.328 |
0.000 |
0.000 |
|
|
|
Dividend Distribution Tax |
0.736 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3.096 |
5.753 |
2.862 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods (Machinery) |
164.700 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
164.700 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.34 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.43
|
5.72 |
6.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
10.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.07
|
12.98 |
11.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.47 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.12
|
2.48 |
2.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
1.25 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
171.593 |
90.034 |
91.904 |
|
|
|
|
|
OPERATIONS AND
FUTURE OUTLOOK:
DBM Group is the market leader in the field of Geotechnical Investigations,
Piling, Grounting, Anchoring and Survey jobs. This will remain as the core
activity in the future also. However, in addition to these the company has
diversified its activities in the field of marine infrastructure developments,
construction of tunnels, bridges and dams etc. The company has entered into the
specialized field of deep and intensified drilling activities for the specific
purpose of mineral exploration like uranium, gold, coal etc.
The company has also entered into the specialized field of Engineering
protection systems, Security Engineering and Rope Architecture to prevent
landslides, tunnel wall collapse or any other types of mishaps by installation
of ultramodern system like Rock fall barriers, Slope Stabilization and slope drapes
and has plans of having an international tie-ups/ collaborations in the near
future.
DBM has now proposed to take up ground improvement projects such as PVD
and Stone columns. Further, the company has identified a new area of
infrastructure development in the field of Micro tunneling which has a
tremendous potential for growth and improvement from the present state to a
highest level of international and ultra modern development potential which
could drastically change the landscape of infrastructure especially in the
island city of
The company plans to modernize its Taloja Workshop by installation of
“State of the Art” technology in servicing of its high value Plant and
Machinery thereby enhancing the value of the same and the longevity of the
equipments.
INCREAE IN
AUTHORISED CAPITAL OF THE COMPANY:
The Company proposes to increase its Authorised Capital by passing a
special resolution from Rs.150.000 millions to Rs.250.000 millions by creation
of additional 10000000 Equity Shares of Rs.10/- each. The Board recommends the
resolution.
FORM 8:
|
Corporate
identity number of the company |
U74999MH1993PTC074683 |
|
Name of the
company |
DBM GEOTECHNICS AND CONSTRUCTIONS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Centaur House, B/301, 3rd Floor, Shanti Nagar Industrial
Estate, Near Grand Hyatt Hotel, Vakola, Santacruz (East), Mumbai – 400 055,
Maharashtra, India E-Mail: dbm@bom3.vsnl.net.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400 013, Maharashtra, India E-Mail: RBBform8@hdfcbank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement. |
|
Date of
instrument Creating the charge |
30.05.2011 |
|
Amount secured by
the charge |
Rs.150.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest @ 12%
p.a. Terms of
Repayment: On demand. Margin: As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge: Hypothecation by
way of Pari passu charge on Companies Commercial Vehicles, Stock and
Receivable and Entire Current Assets and Unencumbered Plant and Machinery of
the Company as security for repayment of loan together with all interest,
charges, fees, penalty, taxes and any other expenses payable to the Bank by
the borrower. |
|
Short particulars
of the property charged |
Hypothecation by
way of Pari passu charge on Commercial Vehicles, Stock and Receivables and
Entire Current Assets of the Company. Hypothecation by
way of Pari passu charge on unencumbered Plant and Machinery Namely: (1)
Machine Serial No. HR1801530614 Mait, (2) Sant, Machine Serial No.885228. |
FIXED ASSETS:
v Premises
v Furniture and Fixtures
v Plant and Machinery
v Computer Systems
v Vehicles
v Pantoons
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.44.58 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
48 |
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.