BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
DGC AUTOMOTIVE PRIVATE LIMITED |
Principal Name 1 |
Mr. Rajani Kumar Agarwal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Dilip Popatlal Dholakiya |
|
|
|
Registration # |
11-182766 |
|
Street Address |
D- 98, Kamla
Nagar, |
||
|
Established Date |
02.09.2008 |
SIC Code |
-- |
|
Telephone# |
91-11-23977599 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-23939221 |
Business Style 2 |
Exporter |
|
Homepage |
-- |
Product Name 1 |
Automotive Products |
|
# of employees |
60 (Office – 12
and Factory – 48) (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
3748350 /- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 28.80% Directors or
relatives of Directors - 71.20% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
3 years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
No |
Rating |
Ca
(15) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
--. |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
9,951,000 |
Current Liabilities |
3,686,000 |
|
Inventories |
9,622,000 |
Long-term Liabilities |
48,030,000 |
|
Fixed Assets |
57,118,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
51,716,000 |
|
Invest& other Assets |
3,446,000 |
Retained Earnings |
34,009,000 |
|
|
-- |
Net Worth |
28,421,000 |
|
Total Assets |
80,137,000 |
Total Liab. & Equity |
80,137,000 |
|
Total Assets (Previous Year) |
28,384,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
DGC AUTOMOTIVE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
D- 98, Kamla Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials as on : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
02.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-182766 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.748 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U50103DL2008PTC182766 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD10937D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCD9777C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Automotive Products. |
|
|
|
|
No. of Employees : |
60 (Office – 12 and Factory – 48) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Correct |
|
|
|
|
Comments : |
Subject is a company having moderate track. There appears some
accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 |
LOCATIONS
|
Registered Office : |
D- 98, Kamla Nagar, |
|
Tel. No.: |
91-11-23977599 |
|
Fax No.: |
91-11-23939221 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Owned |
|
|
|
|
Factory Located At: |
Rajasthan |
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Rajani Kumar Agarwal |
|
Designation : |
Additional Director |
|
Address : |
35 Rani Bagh, Ambala Cantt, Ambala, Haryana – 134 003, |
|
Date of Birth/Age : |
05.05.1961 |
|
Date of Appointment : |
01.10.2008 |
|
|
|
|
Name : |
Mr. Dilip Popatlal Dholakiya |
|
Designation : |
Director |
|
Address : |
D-98, Kamla Nagar, |
|
Date of Birth/Age : |
07.10.1957 |
|
Date of Appointment : |
02.09.2008 |
|
|
|
|
Name : |
Mr. Hiten D. Dholakiya |
|
Designation : |
Director |
|
Address : |
D-98, Kamla Nagar, |
|
Date of Birth/Age : |
27.05.1982 |
|
Date of Appointment : |
02.09.2008 |
|
|
|
|
Name : |
Mr. Jimmy B. Dholakiya |
|
Designation : |
Director |
|
Address : |
4, Shrushti Bungalows, Near |
|
Date of Birth/Age : |
19.10.1988 |
|
Date of Appointment : |
02.09.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
|
Names of Allottees |
|
No. of Shares |
|
Dipen D. Dholakiya |
|
117160 |
|
Hiten Dholakiya |
|
64000 |
|
Jimmy Dholakiya |
|
3000 |
|
Dipen Dholakiya |
|
1000 |
|
Jignesh P. Dholakiya |
|
1000 |
|
Mehul P. Dholakiya |
|
1000 |
|
Bhavesh P. Dholakiya (HUF) |
|
1000 |
|
Dimple J. Dholakiya |
|
41000 |
|
Nitaben B. Dholakiya |
|
1000 |
|
Jinalben B. Dholakiya |
|
1500 |
|
Mehul P. Dholakiya |
|
21500 |
|
Minesh P. Dholakiya (HUF) |
|
3000 |
|
Rimaben M. Dholakiya |
|
2000 |
|
Diptiben H. Dholakiya |
|
4000 |
|
Kamaldeep Traders Private
Limited |
|
7500 |
|
Akahar Elecmech Network Private Limited |
|
12125 |
|
Vedika Trade and Advisors Private Limited |
|
13900 |
|
Ram commodities Private Limited |
|
11500 |
|
Hement Advisory Services Private Limited |
|
12450 |
|
Kamaldeep Traders Private Limited |
|
1500 |
|
TPL Finance Limited |
|
5900 |
|
Lunia Finance Limited |
|
3200 |
|
Dhanlaxmi Lease and Finance Limited |
|
6000 |
|
Mahavir Impex Limited |
|
6000 |
|
Pratik Minerals Private Limited |
|
6000 |
|
Parvati Minerals Private Limited |
|
6000 |
|
Shalibhadra Steel Private Limited |
|
11600 |
|
Rajni Aggarwal |
|
4800 |
|
Shankeshwar Metal Private Limited |
|
400 |
|
Kamaldeep Traders (Private ) Limited |
|
3800 |
|
|
|
|
|
Total |
|
374835 |
AS ON 30.09.2010
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
28.80 |
|
Directors or relatives of Directors |
71.20 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Automotive Products. |
|
|
|
|
Products : |
Automotive Products |
GENERAL INFORMATION
|
No. of Employees : |
60 (Office – 12 and Factory – 48) (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
State Bank of India, SSI Branch, G. T. Road,
Delhi, India. ·
HDFC Bank Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjay Agarwal Chartered Accountant |
|
Address : |
Rajeev Trilok and Company, 1/130, Bazar Ganda Nala, Kashmere Gate,
Delhi – 110006, India |
|
Tel. No.: |
91-11-23956232 / 23960332 |
CAPITAL STRUCTURE
As on : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Share |
Rs. 10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
374835 |
Equity Share |
Rs. 10/- each |
Rs.3.748
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.748 |
3.116 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
34.009 |
18.841 |
|
|
4] (Accumulated Losses) |
|
(9.336) |
0.000 |
|
|
NETWORTH |
|
28.421 |
21.957 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
48.030 |
2.457 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
48.030 |
2.457 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
76.451 |
24.414 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
57.118 |
22.652 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
9.622
|
0.000 |
|
|
Sundry Debtors |
|
4.389
|
0.000 |
|
|
Cash & Bank Balances |
|
1.369
|
0.034 |
|
|
Other Current Assets |
|
1.842
|
0.002 |
|
|
Loans & Advances |
|
2.351
|
4.547 |
|
Total
Current Assets |
|
19.573
|
4.583 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
|
3.686
|
3.970 |
|
|
Provisions |
|
0.000
|
0.000 |
|
Total
Current Liabilities |
|
3.686
|
3.970 |
|
|
Net Current Assets |
|
15.887
|
0.613 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
3.446 |
1.149 |
|
|
|
|
|
|
|
|
TOTAL |
|
76.451 |
24.414 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.81 |
2.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
5.31 |
1.15 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
The company has started its operations from 24th September,
2009.
FORM : 8
|
This form is for |
Creation of
charge |
|
Charge
identification number of the modified |
-- |
|
Corporate
identity number of the company |
U50103DL2008PTC182766 |
|
Name of the
company |
DGC AUTOMOTIVE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-98, Kamla
Nagar, |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge Others |
|
Particular of
charge holder |
State Bank of SSI Branch, Email: tcjoshi1979@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
(i)
Agreement
of Loan Cum Hypothecation (SME-2) and SME – 1. (ii)
Memorandum
for recording creation of mortgage by deposit of title deeds (SME – 5) |
|
Date of
instrument Creating the charge |
02.03.2009 |
|
Amount secured by
the charge |
Rs. 70.100
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest : Interest For Working Capital @ 2% above
SBAR with a minimum of 14.25% p.a. Term Loan : Interest
@ 2.50% above SBAR with a minimum of 14.75% p.a. Terms of Repayment : The Term Loan of Rs. 47.000 Millions is
repayable in 60 monthly installation of Rs. 0.783 Millions each with the
first installment commencing on 2010 and the last installment falling due on
December, 2014. Margin : Raw Materials: Imported/ Raw Materials:
Indigenous/ Semi Finished goods/ Finished goods – 25%, Domestic Receivables
(Cover period 30 days) and BG – 25%. Extent and Operation of the charge : 100% Others : The above is to secure the credit
facilities of Rs.70.100 Millions i.e. Cash Credit (Hypo of stocks) Rs. 17.100
Millions, Term Loan of Rs. 47.000 Million EPC/ FBP # Rs.7.100 Million, LC(One
Time) Rs. 19.900 Millions, BG of Rs. 6.000 Million granted to the company. # Sub limit
within overall cash credit (Hypo) limit in for import of machinery and will
be liquidated out of the proposed term loan. |
|
Short particulars
of the property charged |
Primary Secutity:
Hypo of all goods, stocks and book debts both present and future of the
Company. TL : Exclusive 1st
charge over fixed assets of Company EMT of factory Land and Building situated
at G1/568-569, RIICO Industrial Area, Bhiwadi (Rajasthan). Collateral
secured of EMT of 98-D, Kamla Nagar, (ii) Extension of charger over residual value of
entire fixed assets including Plant and Machinery and |
FIXED ASSETS :
·
Furniture
·
Electrical Installation
·
Computers
·
Plumbing and Sanitary
Fitting
·
Scooter
·
Generator and Fitting
·
Refrigerator
·
Die and Tools
·
Cycle
·
Camera
·
Building
·
Land
·
Plant and machinery
·
Mobile Set
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. 44.93 |
|
|
1 |
Rs. 72.08 |
|
Euro |
1 |
Rs. 64.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
15 |
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.