MIRA
INFORM REPORT
|
Report Date : |
31.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
DHIMAN STEEL INDUSTRIES |
|
|
|
|
Registered
Office : |
B-3/44, 2nd Floor, Paschim Vihar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Year of
Establishment : |
1966 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAPA4773G |
|
|
|
|
Legal Form : |
Sole Proprietory Concern. |
|
|
|
|
Line of Business
: |
Manufacturer of Hollow – Metal Pressed steel Doors, Windows, Rolling
Shutters, Fire Proof Doors, Aluminium Doors and Partition Windows, Sheet
Metal Section Louvers etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established concern having moderate track. Trade
relations are reported as fair. The valuation report of the company has not
been provided. However the networth statement provided seems to be
acceptable. No complaints have been heard from market or indirect sources. It would be advisable to take adequate securities while dealing with
the subject. |
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/ Factory : |
1016/342 A, Street No.4, Lane G, New Rohtak Road, Anand Parbat
Industrial Area, New Delhi – 110005, India |
|
Tel. No.: |
91-11-28761633 |
|
Mobile No.: |
91-9811075370 (Mr. Rajan Arora) |
|
Fax No.: |
91-11-28762062 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
3600 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Rajan Arora |
|
Designation : |
Proprietor |
|
Address : |
B-3/44, 2nd Floor, Paschim Vihar, |
|
Date of Birth/Age : |
29.12.1966 |
|
Qualification : |
Graduate |
|
Experience : |
26 years |
|
Tel. No.: |
91-11-25269972 |
|
Fax No.: |
91-11-25268872 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hollow – Metal Pressed steel Doors, Windows, Rolling Shutters,
Fire Proof Doors, Aluminium Doors and Partition Windows, Sheet Metal Section
Louvers etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
· Bhola Singh Jai Prakash Limited · Bridge and Roof Company Limited · Larsen and Toubro Limited · Metalite engineers · Nishant Creation Private Limited · Petron Civilengg Private Limited |
|
|
|
|
Suppliers : |
· Bharti Jee Steels Corporation · Ever Shine Paints and Chemicals Industries · Garg Iron and Steel Company · Mehr Image Private Limited · Shree Shyam Industries · Rajan Arora Lap A/c |
|
|
|
|
No. of Employees : |
34 (Office – 4 and Factory – 30) |
|
|
|
|
Bankers : |
· Corporation Bank · ICICI Bank · Allahabad Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shyam Goyal and Associates Chartered Accountant |
|
|
|
|
Associates/
Subsidiary : |
§
Metalite Engineers |
CAPITAL STRUCTURE
PROPRIETOR’S
CAPITAL ACCOUNT
(RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
Particulars |
31.03.2010 |
|
|
|
|
|
|
To Withdrawals |
0.182 |
By Opening Balance |
5.991 |
|
|
|
|
|
|
To Closing
Balance |
6.330 |
By Net Profit |
0.521 |
|
|
|
|
|
|
Total |
6.512 |
Total |
6.512 |
------------------------------------------------------------------------------------------------------------------------------
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] Proprietor’s Capital A/c |
6.330 |
5.991 |
3.492 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.330 |
5.991 |
3.492 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.511 |
1.615 |
5.227 |
|
|
2] Unsecured Loans |
1.250 |
1.250 |
2.500 |
|
|
TOTAL BORROWING |
2.761 |
2.865 |
7.727 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.091 |
8.856 |
11.219 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.656 |
1.684 |
1.281 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.613
|
3.196 |
4.650 |
|
|
Sundry Debtors |
5.366
|
3.180 |
3.485 |
|
|
Cash & Bank Balances |
0.528
|
0.348 |
1.766 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.724
|
0.546 |
0.984 |
|
Total
Current Assets |
9.231
|
7.270 |
10.885 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.731
|
0.027 |
0.902 |
|
|
Other Current Liabilities |
0.065
|
0.071 |
0.045 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
1.796
|
0.098 |
0.947 |
|
|
Net Current Assets |
7.435
|
7.172 |
9.938 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.091 |
8.856 |
11.219 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14.821 |
3.883 |
8.465 |
|
|
|
Other Income |
0.000 |
0.085 |
0.182 |
|
|
|
TOTAL (A) |
14.821 |
3.968 |
8.647 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
12.915 |
2.850 |
7.277 |
|
|
|
Electric Expenses |
0.172 |
0.100 |
0.084 |
|
|
|
Wages |
0.299 |
0.268 |
0.292 |
|
|
|
Festival Expenses |
0.060 |
0.038 |
0.022 |
|
|
|
Staff Salary |
0.215 |
0.017 |
0.018 |
|
|
|
Telephone Expenses |
0.042 |
0.025 |
0.026 |
|
|
|
Advertisement Expenses |
0.018 |
0.000 |
0.000 |
|
|
|
Other Expenses |
0.373 |
0.259 |
0.351 |
|
|
|
TOTAL (B) |
14.094 |
3.557 |
8.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.727 |
0.411 |
0.577 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.131 |
0.110 |
0.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.596 |
0.301 |
0.363 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.075 |
0.094 |
0.016 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F) (G) |
0.521 |
0.207 |
0.347 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.52
|
5.22 |
4.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.52
|
5.33 |
4.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.79
|
2.31 |
2.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.03 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.72
|
0.49 |
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.14
|
74.18 |
11.49 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
Gross Sales |
|
|
|
Domestic |
50.000 |
60.000 |
|
Export |
0.000 |
0.000 |
|
|
|
|
|
Sub Total (Gross Sales) |
50.000 |
60.000 |
|
|
|
|
|
Less : Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
50.000 |
60.000 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
237.35 |
20.00 |
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
47.246 |
52.422 |
|
|
|
|
|
Others Stores and Spares |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
0.125 |
0.150 |
|
|
|
|
|
Power and Fuel |
0.625 |
0.750 |
|
Direct Wages (Factory Wages and Salaries) |
1.250 |
1.500 |
|
Repairs and Maintenance |
0.000 |
0.000 |
|
Other Direct Expenses |
0.125 |
0.150 |
|
Other Manufacturing Expenses |
0.000 |
0.000 |
|
Depreciation |
0.063 |
0.054 |
|
|
|
|
|
Sub
Total |
49.435 |
55.026 |
|
|
|
|
|
Add: Opening Stock of Raw Materials |
0.000 |
0.000 |
|
Less: Closing Stocks of Raw Materials |
0.000 |
0.000 |
|
|
|
|
|
Cost
of Production/ Purchases |
49.435 |
55.026 |
|
|
|
|
|
Add: Opening Stocks of Finished Goods |
0.613 |
4.110 |
|
Less: Closing Stocks of Finished Goods |
4.110 |
4.932 |
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
45.938 |
54.204 |
|
|
|
|
|
Gross
Profit |
4.062 |
5.796 |
|
|
|
|
|
%
Gross Profit |
0.812 |
0.956 |
|
|
|
|
|
Selling, General and Administrative Expenses |
2.500 |
3.000 |
|
|
|
|
|
Sub
Total |
48.438 |
57.204 |
|
|
|
|
|
Operating Profit before interests |
1.562 |
2.795 |
|
|
|
|
|
Interests |
0.535 |
1.440 |
|
|
|
|
|
Operating profit after Interests |
1.027 |
1.356 |
|
|
|
|
|
Total non Operating Income |
0.000 |
0.000 |
|
|
|
|
|
Total Non Operating Expenses |
0.000 |
0.000 |
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
1.027 |
1.356 |
|
|
|
|
|
Provision for taxes |
0.000 |
0.000 |
|
|
|
|
|
Net
Profit / Loss [PAT] |
1.027 |
1.356 |
|
|
|
|
|
Retained Profit |
1.027 |
1.356 |
|
|
|
|
|
% of Net Profit retained |
100.00 |
100.00 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
i. From Application Bank |
10.000 |
12.000 |
|
ii. From Other Banks |
0.000 |
0.000 |
|
|
|
|
|
SUB
TOTAL |
10.000 |
12.000 |
|
|
|
|
|
Short Term Borrowings From Others |
0.000 |
0.000 |
|
Sundry Creditors (Trader) |
1.312 |
1.456 |
|
Advances Payment from customers |
0.000 |
0.000 |
|
Provision For Taxes |
0.000 |
0.000 |
|
Creditor for Expenses |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
|
Other Statutory Liabilities (due within one years) |
0.000 |
0.000 |
|
Installments of term loans and Deferred Payment Credits |
0.000 |
0.000 |
|
Other current Liabilities and Provisions (due within one
years) |
0.100 |
0.100 |
|
|
|
|
|
SUB
TOTAL |
1.412 |
1.556 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
11.412 |
13.556 |
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
|
Term Loans |
0.000 |
0.000 |
|
Deferred Payment Credits |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Term Deposit |
0.000 |
0.000 |
|
Other Term Liabilities/
Unsecured Loans |
2.500 |
2.500 |
|
|
|
|
|
TOTAL
TERM LIABILITIES |
2.500 |
2.500 |
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
13.912 |
16.056 |
|
|
|
|
|
NET
WORTH |
|
|
|
Shares Capital |
6.830 |
6.830 |
|
Application Money |
0.000 |
0.000 |
|
Partner’s Current A/c |
0.000 |
0.000 |
|
General Reserve |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Share Premium Account |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
1.027 |
2.383 |
|
|
|
|
|
TOTAL
NET WORTH |
7.856 |
9.212 |
|
|
|
|
|
TOTAL
LIABILITIES |
21.769 |
25.269 |
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
Cash and Bank Balance |
0.352 |
0.528 |
|
Investments [Other than long term investments] |
0.000 |
0.000 |
|
Receivables other than deferred and exports |
9.589 |
11.507 |
|
Export receivables |
0.000 |
0.000 |
|
Government and other Trustee securities |
0.000 |
0.000 |
|
Fixed deposit with bank |
0.000 |
0.000 |
|
Domestic receivable Including BP/ BD |
0.000 |
0.000 |
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
- Imported |
0.000 |
0.000 |
|
- Indigenous |
5.825 |
6.463 |
|
|
|
|
|
Stock in Process |
0.000 |
0.000 |
|
Finished Goods |
4.110 |
4.932 |
|
Other Consumable Spares |
0.000 |
0.000 |
|
Advances to suppliers |
0.000 |
0.000 |
|
Advance Payment of Taxes |
0.000 |
0.000 |
|
Other Current Assets |
0.300 |
0.300 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
6.403 |
7.955 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
1.731 |
1.731 |
|
Depreciation to date |
0.138 |
0.192 |
|
|
|
|
|
NET
BLOCK |
1.593 |
1.539 |
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
Investments in sub |
0.000 |
0.000 |
|
Advances to suppliers of Capital goods and contractors |
0.000 |
0.000 |
|
Investment in Others |
0.000 |
0.000 |
|
Other Non-Current Investment |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
0.000 |
0.000 |
|
|
|
|
|
Intangible Assets |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
ASSETS |
21.768 |
25.268 |
|
|
|
|
|
Tangible Net Worth (TNW) |
7.856 |
9.212 |
|
|
|
|
|
Net Working Capital (NWC) |
8.763 |
10.173 |
|
|
|
|
|
Current Ratio |
1.77 |
1.75 |
|
|
|
|
|
TOL/ TNW |
1.10 |
1.16 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF ASSESSED BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
|
|
|
|
Total Current Assets |
20.176 |
23.729 |
|
|
|
|
|
Other Current Liabilities |
1.412 |
1.556 |
|
|
|
|
|
Working Capital Gap |
18.763 |
22.173 |
|
|
|
|
|
Net Working capital |
8.763 |
10.173 |
|
|
|
|
|
Assessed Bank Finance |
10.000 |
12.000 |
|
|
|
|
|
NWC to Total Current Assets |
0.43 |
0.43 |
|
Bank Finance to TCA |
0.50 |
0.51 |
|
S. Creditors to TCA |
0.07 |
0.06 |
|
Other current Liabilities to TCA |
0.00 |
0.00 |
|
|
|
|
|
Inventory to Net sales (days) |
72.52 |
69.32 |
|
Receivable to gross sales (days) |
70.00 |
70.00 |
|
S. Creators to Purchase (days) |
10.11 |
10.11 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
Particulars
|
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
First
Method of Lending |
|
|
|
|
|
|
|
Total Current Assets |
20.176 |
23.729 |
|
|
|
|
|
Other current Liabilities (Other than Bank borrowings) |
1.412 |
1.556 |
|
|
|
|
|
Working Capital Gap |
18.763 |
22.173 |
|
|
|
|
|
Min. Stipulated net working capital (25% of WCG) |
4.691 |
5.543 |
|
|
|
|
|
Net Working capital |
8.763 |
10.173 |
|
|
|
|
|
Item 3 minus item 4 |
14.072 |
16.630 |
|
|
|
|
|
Item 3 minus item 5 |
10.000 |
12.000 |
|
|
|
|
|
Maximum permissible bank finance |
10.000 |
12.000 |
|
|
|
|
|
Excess borrowing representing Shortfall in NWC |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
SOURCES |
|
|
|
Net Profit |
1.027 |
1.356 |
|
Depreciation |
0.063 |
0.054 |
|
Increase in Capital |
0.500 |
-- |
|
Increase in Term Liabilities (Including
Public Deposits) |
1.250 |
-- |
|
Decrease in |
|
|
|
i. Fixed Assets |
-- |
-- |
|
ii. Other non-current assets |
-- |
-- |
|
Others |
-- |
-- |
|
|
|
|
|
TOTAL |
2.840 |
1.410 |
|
|
|
|
|
USES |
|
|
|
Net Loss |
-- |
-- |
|
Decrease in Term Liabilities (Including
Public Deposits) |
-- |
-- |
|
Increase in |
|
|
|
i. Fixed Assets |
-- |
-- |
|
ii. Other Non- Current Assets |
-- |
-- |
|
Other – Depreciation |
-- |
-- |
|
|
|
|
|
TOTAL |
-- |
-- |
|
|
|
|
|
Long Term Surplus(+)/ Deficit (-) (1-2) |
2.840 |
1.410 |
|
|
|
|
|
Increase/ Decrease in current assets (as per
details given below) |
10.944 |
3.554 |
|
Increase/ Decrease in Current Liabilities
other than bank borrowings |
(0.385) |
0.144 |
|
Increase/ Decrease in working Capital Gap |
11.329 |
3.410 |
|
Net Surplus/ Deficit (-) (3-6) |
(8.489) |
(2.000) |
|
Increase/ Decrease in bank borrowings |
8.489 |
2.000 |
|
Increase/ Decrease in NET SALES |
0.000 |
(4.000) |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
SOURCES
OF CASH |
|
|
|
|
|
|
|
Profit After Tax |
1.027 |
1.356 |
|
Reserve plus deferred Liabilities |
-- |
-- |
|
Increase in Capital |
0.500 |
-- |
|
Increase in Term Liabilities |
1.250 |
-- |
|
Increase in Unsecured Loan |
-- |
-- |
|
Increase in Bank borrowing |
8.489 |
2.000 |
|
Increase in sundry Creditors |
(0.419) |
0.144 |
|
Increase in other Current Liabilities |
0.034 |
-- |
|
|
|
|
|
SUB
TOTAL (A) |
10.880 |
3.500 |
|
|
|
|
|
APPLICATION
OF CASH |
|
|
|
|
|
|
|
Preliminary Expenses |
-- |
-- |
|
Increase in Capital expenses |
(0.063) |
(0.054) |
|
Increase in Inventory |
9.321 |
1.460 |
|
Increase in Receivable |
4.223 |
1.918 |
|
Increase in Other Current Assets |
(2.915) |
-- |
|
Increase in Other Non Current Assets |
-- |
-- |
|
|
|
|
|
SUB-TOTAL
(B) |
10.566 |
3.324 |
|
|
|
|
|
Opening Balance |
0.037 |
0.352 |
|
|
|
|
|
Net Surplus |
0.314 |
0.176 |
|
|
|
|
|
Closing Balance |
0.352 |
0.528 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL
INDICATORS
|
Particulars |
2010-11 |
2011-12 |
|
|
Estimated |
Projected |
|
Gross Sales |
500.00 |
600.00 |
|
Net Sales |
500.00 |
600.00 |
|
RM Consumption/ Cost of Production |
0.96 |
0.95 |
|
Salary and wages/ Cost of Production |
0.03 |
0.03 |
|
Cost of Sales/ Net Sales |
0.92 |
0.90 |
|
Operating cost/ Net Sales |
0.98 |
0.98 |
|
Operating Profit |
10.27 |
13.56 |
|
Profit Before Tax |
10.27 |
13.56 |
|
Net Profit |
10.27 |
13.56 |
|
Depreciation |
0.63 |
0.54 |
|
Cash Accruals |
10.90 |
14.10 |
|
Interests |
5.35 |
14.40 |
|
PBDIT |
16.25 |
28.50 |
|
PBDIT/ Interests |
3.04 |
1.98 |
|
PBT/ Net Sales |
0.02 |
0.02 |
|
Net profit / Net Sales |
0.02 |
0.02 |
|
Net Profit/ Gross sales |
0.02 |
0.02 |
|
Total Outsite Liabilities |
139.12 |
160.56 |
|
Paid up Capital |
68.30 |
68.30 |
|
Net Worth |
78.56 |
92.12 |
|
TNW |
78.56 |
92.12 |
|
TOL/ TNW |
1.10 |
1.16 |
|
Net Profit / Net worth |
0.13 |
0.15 |
|
ROCE (PBDIT / Total Assets) |
0.07 |
0.11 |
|
TTL/ TNW |
0.32 |
0.27 |
|
Net DSCR (Cash Accruals) / Term Loan
Installments |
NA |
NA |
|
Current assets |
201.76 |
237.29 |
|
Current Liabilities |
114.12 |
135.56 |
|
NWC* |
87.63 |
101.73 |
|
Current Ratio* |
1.77 |
1.75 |
|
NWC to TCA |
0.43 |
0.43 |
|
Bank Finance to TCA |
0.50 |
0.51 |
|
Sundry Creditors to TCA |
0.07 |
0.06 |
|
Other Current Liabilities to TCA |
0.00 |
0.00 |
|
|
|
|
|
LEVELS IN DAYS |
|
|
|
|
|
|
|
Inventory |
72.52 |
69.32 |
|
Receivable |
70.00 |
70.00 |
|
Inventory + Receivable to Net sales |
142.52 |
139.32 |
|
Sundry Creditors |
10.11 |
10.11 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF TAXABLE INCOME
(RS. IN MILLIONS)
|
PARTICULARS |
2010-11 |
|
|
|
|
|
|
INCOME FROM BUSINESS/ PROFESSION |
|
|
|
|
|
|
|
Net profit as per profit and loss accounts |
|
|
|
Dhiman Steels Industries |
0.521 |
|
|
Metalite Engineers |
0.047 |
0.568 |
|
|
|
|
|
Gross Total Income |
|
0.568 |
|
|
|
|
|
LESS: DEDUCTION UNDER CHAPTER VIA |
|
|
|
LIC Premium Paid U/s 80C |
|
|
|
Housing Loan Repayment U/s 80C |
|
|
|
LIC Jeewan Surksha U/s 80CCC |
|
|
|
|
|
|
|
Maximum deduction Restricted to Rs. |
0.100 |
|
|
|
|
|
|
Mediclaim Insurance U/s 80 D |
0.008 |
0.108 |
|
|
|
|
|
Total Taxable Income |
|
0.460 |
|
|
|
|
|
Rounded off |
|
0.460 |
|
|
|
|
|
Tax on Above |
|
0.046 |
|
Add: Education Cess |
|
0.001 |
|
|
|
0.047 |
|
Add: Interests U/s 234 C |
|
0.000 |
|
|
|
0.047 |
|
|
|
|
|
Less: TDS |
0.013 |
|
|
Less: Advance Tax |
0.034 |
0.047 |
|
Refund |
|
0.000 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Plot
· Machinery
· Scooter
· Office Equipments
· Computers
· D G Set
· Car
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.44.77 |
|
|
1 |
Rs.71.69 |
|
Euro |
1 |
Rs.63.02 |
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.