1. Summary Information

 

 

Country

India

Company Name

DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED

Principal Name 1

Mr. Virender Dawar

Status

Satisfactory

Principal Name 2

Mrs. Rashmi Dawar

 

 

Registration #

55-35531

Street Address

5/ 5 Jacubpura Road, Gurgaon – 122 001, Haryana, India

Established Date

19.11.2004

SIC Code

--

Telephone#

91- 124- 5394703 / 6330655 / 6303655

Business Style 1

Trader

Fax #

91- 124- 2300755 / 4069490

Business Style 2

--

Homepage

--

Product Name 1

Electronic Goods

# of employees

Above 150

Product Name 2

--

Paid up capital

 

Product Name 3

--

Shareholders

Directors or relatives of directors (100.00%)

Banking

 

Public Limited Corp.

NO

Business Period

8 Years

IPO

NO

International Ins.

-

Public Enterprise

NO

Rating

Ba

Related Company

Relation

Country

Company Name

CEO

Business Associates

India

Nokia

--

Note

-

2. Summary Financial Statement

Balance Sheet as of

31.03.2010

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

67,168,000

Current Liabilities

39,749,000

Inventories

115,161,000

Long-term Liabilities

124,055,000

Fixed Assets

10,111,000

Other Liabilities

--

Deferred Assets

465,000

Total Liabilities

163,804,000

Invest& other Assets

14,000

Retained Earnings

20,545,000

 

 

Net Worth

29,115,000

Total Assets

192,919,000

Total Liab. & Equity

192,919,000

 Total Assets

(Previous Year)

188,713,000

 

 

P/L Statement as of

31.03.2010

(Unit: Indian Rs.)

Sales

555,874,000

Net Profit

1,974,000

Sales(Previous yr)

422,511,000

Net Profit(Prev.yr)

365,000


MIRA INFORM REPORT

 

 

Report Date :

23.03.2011

 

 

IDENTIFICATION DETAILS

 

Name :

DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED

 

 

Registered Office :

5/ 5 Jacubpura Road, Gurgaon – 122 001, Haryana

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

19.11.2004

 

 

Com. Reg. No.:

55-35531

 

 

CIN No.:

[Company Identification No.]

U32109HR2004PTC035531

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading in Electronic Goods

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (54)

 

RATING

STATUS

PROPOSED CREDIT LINE

 

 

 

 

 

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 116460

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well 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 term 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

 

Name :

Mr. Mukesh Sharma

Designation :

Accounts Manager

  

 

LOCATIONS

 

Registered Office :

5/ 5 Jacubpura Road, Gurgaon – 122 001, Haryana, India

Tel. No.:

91- 124- 5394703 / 6330655 / 6303655 / 6320755/ 6464000

Mobile No.:

91- 9811011813 [Mr. Varinder Dawar]

Fax No.:

91- 124- 2300755 / 4069490

E-Mail :

dawar_inter@mantraonline.com

tarunkumarapt@yahoo.com

mukesh_agarwal3@rediffmail.com

Area :

7500 sq. ft.

Location :

Owned

  

 

DIRECTORS

 

AS ON  29.09.2010

 

Name :

Mr. Virender Dawar

Designation :

Director

Address :

House No.77, Sector – 7, Urban Estate, Gurgaon, Haryana, India

Date of Birth/Age :

16.07.1966

Qualification :

Engineer

Date of Appointment :

19.11.2004

 

 

Name :

Mrs. Rashmi Dawar

Designation :

Director

Address :

House No.77, Sector – 7, Urban Estate, Gurgaon, Haryana, India

Date of Birth/Age :

09.10.1968

Qualification :

Graduate

Date of Appointment :

19.11.2004

 

 

Name :

Mr. Harit Arya

Designation :

Director

Address :

266/ 4, Ram Nagar, Gurgaon, Haryana, India

Date of Birth/Age :

19.02.1978

Date of Appointment :

15.12.2004

 

 

Name :

Mr. Yogesh Khanna

Designation :

Director

Address :

3E – III, Ridgewood Estate, DLF – IV, Gurgaon – 122 002, Haryana, India

Date of Birth/Age :

12.10.1972

Date of Appointment :

15.03.2007

Date of Ceasing :

24.03.2008

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2010

 

Names of Shareholders

 

 

No. of Shares

Virender Dawar

 

434900

Rashmi Dawar

 

50100

Hitender Dawar

 

55000

Sanjay Sharma

 

50000

Roop Chand

 

15000

N K Jain

 

2000

Total

 

607000

 

Equity share Breakup (Percentage of Total Equity)

As on 29.09.2010

 

Category

 

Percentage of Holding

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trading in Electric Goods.

 

 

Products:

·         Sony Electronic Products

·         Samsung electronic Products

·         Nokia Electronics Products

·         IFB Electronic Products

·         Multi Brand Electronic Products

·         Laptop Computers

·         Electronic Audio Range

 

 

Agencies Held :

  • Whirlpool India Limited
  • IFB Industries

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :

Dealers, Consumers and Co-operative Clients

 

 

No. of Employees :

Above 150

 

 

Bankers :

  • Centurion Bank of Punjab Limited, 472/ 11, Old Railway Road, Gurgaon – 122 001, Haryana, India
  • Citi Bank N.A., Jeevan Vihar, 3, Sansad Marg, New Delhi – 110 001, India
  • ABN Amro Bank
  • ICICI Bank
  • HDFC BankLimited

 

 

Facilities :

 

Secured Loan

 

Rs. In Millions

31.03.2010

Rs. In Millions

31.03.2009

HDFC Bank (Secured against Stock)

101.047

100.511

Standard Chartered Bank O/D (Secured against purchase from Samsung India Electronics Private Limited)

0.000

13.963

ICICI Bank Car Loan (Secured against hypothecation of car)

0.000

0.761

UBI Loan (Mahindra)

0.167

0.311

HDFC Bank (Honda Car Loan)

0.564

0.865

Axis Bank (Secured against bill discounted for purchase from sony India Private Limited)

12.510

0.000

Total

114.288

116.411

 

 

 

Unsecured Loan

 

Rs. In Millions

31.03.2010

Rs. In Millions

31.03.2009

From Directors and Relatives

0.803

0.976

From Others – Banks

8.963

26.265

Total

9.766

27.241

 

 

 

 

 

Banking Relations :

--

 

 

Financial Institute:

3i InfoTech Trusteeship Services Limited, 3rd to 6th Floor, International InfoTech Park, Tower No,. 5, Vashi Railway Station complex, Vashi, Navi Mumbai-400703, Maharashtra, India

 

 

Auditors :

 

Name :

APT Associates

Chartered Accountants

Address :

6 – B, Sagar Apartments, 6, Tilak Marg, New Delhi – 110 001, India

Tel No.:

91-11-23386225/ 23386582/ 23386736

Fax No.:

91-11-23389814

 

 

Business Associates:

·         Nokia

·         Sony

·         Samsung

·         IFB

 

 

CAPITAL STRUCTURE

 

As on 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

607000

Equity Shares

Rs.10/- each

Rs.6.070 Millions

 

 

 

 

 

(Out of the above 32000 equity shares of Rs.10/- each allotted at a premium of Rs.90/- each during the year)

 

 

 

 

 

 

 

 


 

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

8.570

5.750

 5.400

2] Share Application Money

0.000

5.200

 8.700

3] Reserves & Surplus

20.545

15.690

 12.239

4] (Accumulated Losses)

0.000

0.000

 0.000

NETWORTH

29.115

26.640

 26.339

LOAN FUNDS

 

 

 

1] Secured Loans

114.288

116.412

 115.685

2] Unsecured Loans

9.767

27.242

 6.913

TOTAL BORROWING

124.055

143.654

 122.598

DEFERRED TAX LIABILITIES

0.000

0.000

 0.000

 

 

 

 

TOTAL

153.170

170.294

148.937

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

10.111

11.686

 10.945

Capital work-in-progress

0.000

0.000

 0.000

 

 
 
 

INVESTMENT

0.000

0.000

 0.000

DEFERREX TAX ASSETS

0.465

0.341

 0.299

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

115.161
99.738
 97.442

 

Sundry Debtors

37.292
29.383
 28.494

 

Cash & Bank Balances

3.093
8.689
 6.328

 

Other Current Assets

0.000
0.000
 0.000

 

Loans & Advances

26.783
38.820
 31.432

Total Current Assets

182.329
176.630
163.696

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

32.757
12.951

20.788

 

Other Current Liabilities

2.669
2.110
1.401

 

Provisions

4.323
3.358
3.913

Total Current Liabilities

39.749
18.419
26.102

Net Current Assets

142.580
158.211
 137.594

 

 

 

 

MISCELLANEOUS EXPENSES

0.014

0.056

 0.099

 

 

 

 

TOTAL

153.170

170.294

 148.937

 


PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

555.874

422.511

418.437

 

 

Other Income

 

15.953

7.814

 

 

TOTAL                                     (A)

555.874

438.464

426.251

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Direct Expenses

NA

374.918

404.436

 

 

Establishment Expenses

NA

12.158

10.759

 

 

Operating Expenses

NA

25.946

22.829

 

 

Selling and Distribution Expenses

NA

4.280

3.488

 

 

Increased / (Decreased) In Stock

NA

(2.296)

(35.384)

 

 

TOTAL                                     (B)

NA

415.006

406.128

 

 

 

 

 

Less

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

24.043

23.458

20.123

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

19.091

20.749

14.679

 

 

 

 

 

 

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

4.952

2.709

5.444

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2.151

1.869

2.203

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

2.801

0.840

3.241

 

 

 

 

 

Less

TAX                                                                  (I)

0.827

0.475

1.227

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

1.974

0.365

2.014

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.25

0.52

--

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

 31.03.2008

PAT / Total Income

(%)

0.35
0.08

0.47

 

 

 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.46
0.45

1.86

 

 

 
 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10
0.03

0.12

 

 

 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 

5.63
6.08

5.65

 

 

 
 

 

Current Ratio

(Current Asset/Current Liability)

 

4.59
9.59

6.27

 

  

LOCAL AGENCY FURTHER INFORMATION

 

 FORM 8:

 

Name of the company

DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED

1) Date and description of instrument creating the change

Goods Security Agreement dated September 15, 2005

2) Amount secured by the charge/amount owing on the securities of charge

Total working Capital Facilities Rs.60.000 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

First charge on all present and future stocks, book debts and fixed assets of the company.

4) Gist of the terms and conditions and extent and operation of the charge.

  • Repayable on demand
  • Cash Credit @ 8.75% p.a.
  • Working Capital Demand Loan @ 8.00% p.a.
  • Other interest rates as per RBI mandated rates specified from time to time.

5) Name and Address and description of the person entitled to the charge.

Citi Bank N.A., Jeevan Vihar, 3, Sansad Marg, New Delhi – 110 001, India

6) Date  and brief description of instrument modifying the charge

Not Applicable

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Not Applicable

 

 

This form is for

Creation of charge

Corporate identity number of the company

U32109HR2004PTC035531

Name of the company

DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

5/ 5 Jacubpura Road, Gurgaon – 122 001, Haryana, India

Type of charge

  • Book Debts
  • Movable Property
  • Others

Particular of charge holder

3i InfoTech Trusteeship Services Limited, 3rd to 6th Floor, International InfoTech Park, Tower No,. 5, Vashi Railway Station complex, Vashi, Navi Mumbai-400703, Maharashtra, India

Nature of description of the instrument creating or modifying the charge

Deed of Hypothecation

Date of instrument Creating the charge

28.03.2009

Amount secured by the charge

Rs. 19.200 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

1.75% per annum below the sun of the ICICI Bank Benchmark Advance Rte and the Cash Credit risk premium prevailing on each day that the loan remains outstanding plus applicable interest tax or other statutory levy if any (Subject to minimum of 16.00% per annum)

 

Terms of Repayment

Tenor – 12 months for OD, 9 months for the existing DLOD of Rs. 4.200 Millions and 12 months for the additional DLOD of Rs. 5.000 Millions

 

Extent and Operation of the charge

  1. Exclusive charge by way of hypothecation of all credit card receivable of M/s Dawar International Electronics Private Limited, both present and future
  2. Secondary charge by way of hypothecation of the company’s entire stock of raw materials, semi-finished and finished goods, consumable stores and spares and such other movable including book-debts, bills whether documentary or clean outstanding monies, receivables, both present and future

Short particulars of the property charged

  1. Exclusive charge by way of hypothecation of all credit card receivable of M/s Dawar International Electronics Private Limited, both present and future
  2. Secondary charge by way of hypothecation of the company’s entire stock of raw materials, semi-finished and finished goods, consumable stores and spares and such other movable including book-debts, bills whether documentary or clean outstanding monies, receivables, both present and future

 

This form is for

Creation of charge

Corporate identity number of the company

U32109HR2004PTC035531

Name of the company

DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

5/ 5 Jacubpura Road, Gurgaon – 122 001, Haryana, India

Type of charge

Book Debts

Others

Particular of charge holder

3i Infotech Trusteeship Services Limited

Nature of description of the instrument creating or modifying the charge

Deed of hypothecation

Date of instrument Creating the charge

28/03/2009

Amount secured by the charge

Rs.19.200 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

1.75% per annum below the sum of the ICICI Bank Benchmark Advance Rate and the cash credit risk premium prevailing on each day that the loan remains outstanding plus applicable interest tax or other statutory levy if any (subject to minimum of 16.00% per annum)

 

Terms of Repayment

Tenor :- 12 months for OD, 9 months for the existing DLOD of Rs.4.20 mn  and 12 months for the additional DLOD of Rs. 5.00 mn.

 

Extent and Operation of the charge

1. Exclusive charge by way of Hypothecation of all credit card receivables of M/s. Dawar International Electronics Private Limited, both present and future.

 

2. Secondary  charge by way of hypothecation of the company's entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean outstanding monies, receivables, both  present and future,

Short particulars of the property charged

1. Exclusive charge by way of Hypothecation of all credit card receivables of M/s. Dawar International Electronics Private Limited, both present and future.

 

2. Secondary  charge by way of hypothecation of the company's entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean outstanding monies, receivables, both  present and future,

 

 

FIXED ASSETS:

 

  • Coffee Machine
  • Furniture and Fixture
  • Generator
  • Mobile Phone
  • Motor Cycle
  • Scooter
  • EPABX
  • Shop
  • Photo Machine
  • Auto Ricksaw
  • Fax Machine
  • Office Equipment
  • Water Cooler
  • Tata Pick-up

 

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.44.97

UK Pound

1

Rs.73.34

Euro

1

Rs.63.98

 

 

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

4

--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

 

44

 

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.