MIRA
INFORM REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
DODWEL ENGINEERING |
|
|
|
|
Registered
Office : |
6/116, Jogani Industrial Complex, V. N. Purav Marg, Sion-Chunabhatti,
Mumbai – 400022, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
01.09.1997 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.3.727 Millions |
|
|
|
|
IEC No.: |
039207070782 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACFD2166L |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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|
|
|
Line of Business
: |
Manufacturing and Exporter of Engineering Items, Plastic and Blow
Moulds, Injections Etc. |
|
|
|
|
No. of Employees
: |
5 (Office – 3 and Factory – 2) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established concern having satisfactory track. Trade
relations are reported as fair. The valuation report and networth statement
provided seems to be satisfactory. No complaints have been heard from indirect
or market 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 |
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|
|
|
|
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. Rohan Shetty |
|
Designation : |
Partner |
|
Contact No.: |
91-9821871063 |
|
Date : |
16.05.2011 |
LOCATIONS
|
Registered Office : |
6/116, Jogani Industrial Complex, V. N. Purav Marg, Sion-Chunabhatti,
Mumbai – 400022, |
|
Tel. No.: |
91-22-24057399 |
|
Mobile No.: |
91-9821871063 (Mr. Rohan Shetty) |
|
Fax No.: |
91-22-24056895 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. |
|
Designation : |
Partner |
|
Address : |
Flat No.2501, |
|
Date of Birth/Age : |
25.05.1951 |
|
Qualification : |
B. E. (Mechanical) |
|
Experience : |
30 years |
|
|
|
|
Name : |
Mrs. Jyoti Krtishna Shetty |
|
Designation : |
Partner |
|
Address : |
Flat No.2501, |
|
Date of Birth/Age : |
26.01.1956 |
|
Qualification : |
B. Com |
|
Experience : |
20 years |
|
|
|
|
Name : |
Mr. Rohan Krishna Shetty |
|
Designation : |
Partner |
|
Address : |
Flat No.2501, |
|
Date of Birth/Age : |
13.04.1981 |
|
Qualification : |
DME (Mechanical) |
|
Experience : |
11 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporter of Engineering Items, Plastic and Blow
Moulds, Injections Etc. |
|
|
|
|
Exports : |
|
|
Products : |
Injection and Blow Moulds |
|
Countries : |
·
·
·
|
GENERAL INFORMATION
|
Suppliers : |
· Avinash Industries · Canara Goods Transport · Chandra International · CNC Mill Engineers · Dodwel Engg. Works Private Limited · Gel Fasteners · Kship Exim Solution · Kwality Spring Products · M R Sharma and Company · Nilesh Engg. Works · Padmavati Plastics · Priya Arts Printers · Shri Krishna Enterprises · Subham Engg. Works · Tri Brite Platers |
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||||||||
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Customers : |
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||||||||
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No. of Employees : |
5 (Office – 3 and Factory – 2) |
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Bankers : |
· Corporation Bank 62, |
||||||||
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|
||||||||
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Facilities : |
Credit Limit – Rs.3.000 Millions from Corporation Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. R. Sharma and Company Chartered Accountant |
|
Address : |
C Wing, Gala No.8, Poonam Darshan Building, P. M. J. P. Colony, Mahakali
Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-28218117/ 28377189 |
|
Email : |
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|
|
|
|
Associates/Subsidiaries : |
· Dodwel Engineering Works Private Limited A-15, Ansa Industrial Society, Line of Business: Manufacturer of Mould. |
CAPITAL STRUCTURE
PARTNER’S
CAPITAL ACCOUNTS AS ON 31.03.2009
(RS. IN MILLIONS)
|
Particulars |
Mr. K. V. Shetty |
Mrs. J. K. Shetty |
Mr. Rohan K. Shetty |
|
|
|
|
|
|
Opening Balance |
0.905 |
1.349 |
0.700 |
|
Add: Salary |
0.127 |
0.000 |
0.063 |
|
|
1.032 |
1.349 |
0.763 |
|
Add: Interests
on Capital |
0.057 |
0.082 |
0.043 |
|
|
1.089 |
1.431 |
0.806 |
|
Add: Capital
Introduced |
0.110 |
0.040 |
0.040 |
|
|
1.199 |
1.471 |
0.846 |
|
Add: Net Profit |
0.109 |
0.055 |
0.055 |
|
|
1.308 |
1.526 |
0.901 |
|
|
|
|
|
|
Less: Drawings
and Taxes |
0.005 |
0.003 |
0.000 |
|
|
|
|
|
|
Closing Balance |
1.303 |
1.523 |
0.901 |
|
|
|
|
|
|
Total |
3.727 |
||
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.727 |
2.954 |
3.545 |
|
|
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 |
3.727 |
2.954 |
3.545 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.104 |
2.225 |
0.863 |
|
|
2] Unsecured Loans |
0.699 |
0.807 |
0.000 |
|
|
TOTAL BORROWING |
1.803 |
3.032 |
0.863 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.530 |
5.986 |
4.408 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.061 |
1.165 |
1.300 |
|
|
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 |
6.475
|
6.682 |
5.094 |
|
|
Sundry Debtors |
0.000
|
0.033 |
0.825 |
|
|
Cash & Bank Balances |
0.383
|
0.862 |
0.144 |
|
|
Other Current Assets |
0.000
|
0.006 |
0.006 |
|
|
Loans & Advances |
0.110
|
0.201 |
0.097 |
|
Total
Current Assets |
6.968
|
7.784 |
6.166 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.739
|
2.298 |
2.202 |
|
|
Other Current Liabilities |
0.741
|
0.640 |
0.834 |
|
|
Provisions |
0.019
|
0.025 |
0.022 |
|
Total
Current Liabilities |
2.499
|
2.963 |
3.058 |
|
|
Net Current Assets |
4.469
|
4.821 |
3.108 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.530 |
5.986 |
4.408 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9.719 |
5.583 |
14.312 |
|
|
|
Other Income |
0.522 |
0.573 |
0.308 |
|
|
|
TOTAL |
10.241 |
6.156 |
14.620 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
7.781 |
4.916 |
12.271 |
|
|
|
Audit Fees |
0.028 |
0.017 |
0.017 |
|
|
|
Commission |
0.050 |
0.018 |
0.026 |
|
|
|
Freight, Clearing and Forwarding |
0.238 |
0.300 |
0.411 |
|
|
|
General Expenses |
0.018 |
0.007 |
0.005 |
|
|
|
Packing Charges |
0.062 |
0.020 |
0.002 |
|
|
|
Rent, Rates and Taxes |
0.085 |
0.061 |
0.029 |
|
|
|
Salary |
0.310 |
0.233 |
0.317 |
|
|
|
Travelling Expenses |
0.075 |
0.041 |
0.035 |
|
|
|
Salary to Partners |
0.190 |
0.000 |
0.050 |
|
|
|
Other Expenses |
1.063 |
0.786 |
1.285 |
|
|
|
TOTAL |
9.900 |
6.399 |
14.448 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.341 |
(0.243) |
0.172 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.121 |
0.136 |
0.157 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.220 |
(0.379) |
0.015 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
2.15
|
(6.16) |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.26
|
(6.79) |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.74
|
(4.24) |
0.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.13) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.15
|
2.03 |
1.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79
|
2.63 |
2.02 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Audited) |
(Estimated) |
(Projected) |
|
|
|
|
|
|
Gross Sales |
|
|
|
|
Domestic |
-- |
0.505 |
0.556 |
|
Export |
7.088 |
11.000 |
12.100 |
|
|
|
|
|
|
Sub Total (Gross sales) |
7.088 |
11.505 |
12.656 |
|
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
(0.30) |
0.62 |
0.01 |
|
|
|
|
|
|
Other Operating Income |
|
|
|
|
Export Incentives |
-- |
-- |
-- |
|
Commission/ Brokerage received |
-- |
-- |
-- |
|
Others |
-- |
0.010 |
0.011 |
|
|
|
|
|
|
Total Operating Income |
7.088 |
11.515 |
12.667 |
|
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
|
|
Purchases |
4.416 |
8.867 |
9.754 |
|
|
|
|
|
|
Other Trading Expenses (Carriage inward,
commission and brokerage on purchases) |
0.115 |
0.126 |
0.139 |
|
|
|
|
|
|
Sub
Total |
4.531 |
8.993 |
9.892 |
|
|
|
|
|
|
Add: Opening Stock |
6.475 |
6.335 |
6.800 |
|
Less: Closing Stock |
6.335 |
6.800 |
7.280 |
|
|
|
|
|
|
Total
Cost of Sales |
4.671 |
8.528 |
9.412 |
|
|
|
|
|
|
Selling, General and Administrative Expenses |
1.362 |
1.494 |
1.643 |
|
|
|
|
|
|
Operating Profit before Interests and Depreciation |
1.055 |
1.493 |
1.611 |
|
|
|
|
|
|
Interests |
0.362 |
0.534 |
0.587 |
|
Depreciation |
-- |
-- |
-- |
|
|
|
|
|
|
Operating profit after Interests and Depreciation |
0.693 |
0.959 |
1.023 |
|
|
|
|
|
|
Non Operating Income |
0.175 |
0.122 |
0.134 |
|
|
|
|
|
|
Non Operating Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net
of Non-operating Income and Expenses |
0.175 |
0.122 |
0.134 |
|
|
|
|
|
|
Profit
before Tax |
0.868 |
1.081 |
1.158 |
|
|
|
|
|
|
Provision for taxes |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net
Profit After Tax |
0.868 |
1.081 |
1.158 |
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Retained Profit |
0.868 |
1.081 |
1.158 |
|
|
|
|
|
|
Retained profit/ Net Profit % age |
|
|
|
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars
|
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Audited) |
(Estimated) |
(Projected) |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
|
i. From Application Bank |
0.000 |
1.500 |
1.500 |
|
ii. From Other Banks |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
SUB
TOTAL (A) |
0.000 |
1.500 |
1.500 |
|
|
|
|
|
|
Short Term Borrowings From Others |
0.516 |
0.000 |
0.000 |
|
Sundry Creditors (Trader) |
1.933 |
1.478 |
1.626 |
|
Advances Payment from customers |
1.029 |
1.000 |
1.100 |
|
Provision For Taxes |
0.000 |
0.000 |
0.000 |
|
Creditor for Expenses |
0.000 |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
|
Other Statutory Liabilities (due within one years) |
0.000 |
0.000 |
0.000 |
|
Deposits |
0.125 |
0.125 |
0.125 |
|
Installments of term loans and Deferred Payment Credits |
0.000 |
0.000 |
0.000 |
|
Other current Liabilities and Provisions (due within one
years) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
OTHER
CURRENT LIABILITIES |
0.060 |
0.080 |
0.088 |
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
3.663 |
4.183 |
4.439 |
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
0.000 |
|
Term Loans |
0.000 |
0.000 |
0.000 |
|
Deferred Payment Credits |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Term Deposit |
0.000 |
0.000 |
0.000 |
|
Deferred Tax Liability |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
3.663 |
4.183 |
4.439 |
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
Shares Capital |
4.480 |
5.405 |
5.740 |
|
Application Money |
0.000 |
0.000 |
0.000 |
|
Partner’s Current A/c |
0.000 |
0.000 |
0.000 |
|
General Reserve |
0.000 |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Share Premium Account |
0.000 |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
NET WORTH |
4.480 |
5.405 |
5.740 |
|
|
|
|
|
|
TOTAL
LIABILITIES |
8.143 |
9.588 |
10.179 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.226 |
0.348 |
0.383 |
|
Investments [Other than long term investments] |
0.000 |
0.000 |
0.000 |
|
Receivables other than deferred and exports |
0.000 |
0.000 |
0.000 |
|
Export receivables |
0.000 |
1.439 |
1.582 |
|
Government and other Trustee securities |
0.000 |
0.000 |
0.000 |
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
|
Domestic receivable Including BP/ BD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
|
|
Stock in Process |
6.335 |
6.800 |
7.280 |
|
Finished Goods |
0.000 |
0.000 |
0.000 |
|
Other Consumable Spares |
0.000 |
0.000 |
0.000 |
|
Advances to suppliers |
0.600 |
0.120 |
0.132 |
|
Advance Payment of Taxes |
0.000 |
0.000 |
0.000 |
|
Other Current Assets |
0.033 |
0.025 |
0.028 |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
7.194 |
8.732 |
9.404 |
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
1.055 |
0.949 |
0.856 |
|
Depreciation to date |
0.106 |
0.093 |
0.081 |
|
|
|
|
|
|
NET
BLOCK |
0.949 |
0.856 |
0.775 |
|
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Investments in sub |
0.000 |
0.000 |
0.000 |
|
Advances to suppliers of Capital goods and contractors |
0.000 |
0.000 |
0.000 |
|
Investment in Others |
0.000 |
0.000 |
0.000 |
|
Other Non-Current Investment |
0.000 |
0.000 |
0.000 |
|
|
0.000 |
0.000 |
0.000 |
|
TOTAL
OTHER NON CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
ASSETS |
8.143 |
9.588 |
10.179 |
|
|
|
|
|
|
Tangible Net Worth (TNW) |
4.480 |
5.405 |
5.740 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF FBWC REQUIREMENT
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Audited) |
(Estimated) |
(Projected) |
|
|
|
|
|
|
Stock in Trade |
6.335 |
6.800 |
7.280 |
|
(Month’s Cost of Sales) |
16.27 |
9.57 |
9.28 |
|
|
|
|
|
|
Receivables – Domestic |
0.000 |
0.000 |
0.000 |
|
(Month’s Sales) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Receivable – Export |
0.000 |
1.439 |
1.582 |
|
(Month’s Sales) |
0.000 |
251.53 |
251.51 |
|
|
|
|
|
|
Other current Assets |
0.859 |
0.493 |
0.542 |
|
|
|
|
|
|
Total
Current Assets |
7.194 |
8.732 |
9.404 |
|
|
|
|
|
|
Creditor’s |
1.933 |
1.478 |
1.626 |
|
(Month’s Purchases) |
5.25 |
2.00 |
2.00 |
|
|
|
|
|
|
Other current liabilities |
1.730 |
2.705 |
2.813 |
|
|
|
|
|
|
Total
Current Liabilities other than Bank borrowings |
3.663 |
2.683 |
2.939 |
|
PERMISSIBLE
BANK FINANCE |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Audited) |
(Estimated) |
(Projected) |
|
Working Capital Gap |
3.531 |
6.049 |
6.465 |
|
|
|
|
|
|
Minimum required NWC (i.e. 20% of the current assets
excluding export receivable |
1.439 |
1.459 |
1.564 |
|
|
|
|
|
|
Estimated NWC |
3.531 |
4.549 |
4.965 |
|
|
|
|
|
|
Permissible Bank Finance |
0.000 |
1.500 |
1.500 |
|
|
|
|
|
|
Net Working Capital to Total Current Assets (%) |
49.08 |
52.10 |
52.80 |
|
|
|
|
|
|
Bank Finance to Total Current Assets (%) |
0.00 |
17.18 |
15.95 |
|
|
|
|
|
|
Sundry Creditors to Total Current Assets (%) |
26.87 |
16.93 |
17.29 |
|
|
|
|
|
|
Other Current Liability to Total Current Assets (%) |
24.05 |
30.98 |
29.91 |
|
|
|
|
|
|
PERMISSIBLE BANK
FINANCE (Projected Turnover method) |
|
|
|
|
|
|
|
|
|
Projected turnover for the year |
7.088 |
11.505 |
12.656 |
|
|
|
|
|
|
Gross Working Capital (25% of the Project Turnover) |
1.772 |
2.876 |
3.164 |
|
|
|
|
|
|
Borrowers Margin (Minimum of 20% of GWC or projected NWC whichever is higher) |
3.531 |
4.549 |
4.965 |
|
|
|
|
|
|
Permissible Bank Finance |
(1.759) |
(1.673) |
(1.801) |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF INCOME
(RS.
IN MILLIONS)
|
Particulars
|
2009-2010 |
||||||||||||
|
|
|
||||||||||||
|
INCOME
FROM BUSINESS |
|
||||||||||||
|
|
|
||||||||||||
|
Net profit as per Profit and Loss Account |
0.220 |
||||||||||||
|
|
|
||||||||||||
|
Fringe Benefit Tax |
0.000 |
||||||||||||
|
|
|
||||||||||||
|
Profit For the year |
0.220 |
||||||||||||
|
Less: Accm. Loss |
0.220 |
||||||||||||
|
|
|
||||||||||||
|
Taxable profit |
0.000 |
||||||||||||
|
|
|
||||||||||||
|
Tax |
Nil |
||||||||||||
|
Less: TDS |
Nil |
||||||||||||
|
|
|
||||||||||||
|
S.
A. Tax |
Nil |
||||||||||||
|
|
|
||||||||||||
|
Note: The loss of Rs.0.604 Million is to be
carried forward to the subsequent years |
|||||||||||||
|
|
|||||||||||||
|
|||||||||||||
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR.
ROHAN KRISHNA SHETTY
(RS.
IN MILLIONS)
ASSETS
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the
Company/ Firm/ concern in which investment is made |
Dodwel
Engineering Green Tech Industries |
|
|
|
|
Date of
Investment |
Various |
|
|
|
|
Present Value of Investment |
2.200 |
DEPOSIT
HELD WITH BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the
Bank/ company where deposit are held |
Karnataka Bank |
|
|
|
|
Date of deposits |
Various |
|
|
|
|
Nature of
Deposit |
F.D. |
|
|
|
|
Present value of deposits |
0.800 |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Description |
Shares |
|
|
|
|
Date of
Purchases |
Various |
|
|
|
|
Face Value |
-- |
|
|
|
|
Present Value |
0.170 |
OTHERS
ASSETS
|
Cash in Hand |
0.178 |
|
|
|
|
Jewellery |
0.100 |
|
|
|
|
Total Value of Other Assets |
0.278 |
|
TOTAL ASSETS |
RS.3.448 MILLIONS |
|
NET WORTH |
RS.3.448 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSET AND LIABILITIES
NAME OF THE APPLICANT:
DODWEL ENGINEERING
NAME OF THE
CO-APPLICANT: MR. KRISHNA VASU SHETTY
NAME OF THE
GUARANTOR: MRS. JYOTI KRISHNA SHETTY
(RS. IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Address of the
Property with Survey No./ Door No. etc. |
6/116, Jogani Industrial Complex, V. N. Purav Marg, Near ATI
Sion-Chunabhatti, Mumbai - 400022 |
2501, Glen Classic, Hiranandani Garden, Powai, Mumbai - 400076 |
2501, Glen Classic, Hiranandani Garden, Powai, Mumbai - 400076 |
|
|
|
|
|
|
Description: Land/ Site/ Building |
Office Premises |
Flat |
Flat |
|
|
|
|
|
|
Whether Freehold / Leasehold |
Freehold |
Freehold |
Freehold |
|
|
|
|
|
|
Type of Property (Commercial/ Residential/ Agricultural) |
Commercial |
Residential |
Residential |
|
|
|
|
|
|
Mortgaged for Availing Loan is any,
details thereof |
No |
No |
No |
|
|
|
|
|
|
Present
Market Assessed Value |
0.466 |
3.409 |
2.273 |
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in
which investment is made |
-- |
Dodwel Engineering Kenpoly Engineering |
Dodwel Engineering Dodwel Engineering Works Private Limited |
|
|
|
|
|
|
Date of Investment |
-- |
Various |
Various |
|
|
|
|
|
|
Present
Value of Investment |
-- |
3.405 |
2.088 |
DEPOSIT HELD WITH
BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Date of Investment |
-- |
04-05 |
-- |
|
|
|
|
|
|
Nature of deposits |
-- |
Fixed Deposit |
Fixed Deposit |
|
|
|
|
|
|
Present
Value of Investment |
-- |
0.913 |
0.275 |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Description |
-- |
Shares |
-- |
|
|
|
|
|
|
Date of Purchases |
-- |
03-04 |
-- |
|
|
|
|
|
|
Present
Value |
-- |
1.313 |
-- |
VEHICLES OWNED
|
Present
Market Value |
0.292 |
-- |
-- |
OTHER ASSETS
|
Furniture and Fixtures |
0.063 |
-- |
-- |
|
|
|
|
|
|
Cash in Hand |
0.226 |
0.327 |
0.215 |
|
|
|
|
|
|
Jewellery - Gold |
-- |
0.312 |
0.305 |
|
|
|
|
|
|
Plant and Machinery |
0.127 |
-- |
-- |
|
|
|
|
|
|
Other Assets |
6.969 |
0.693 |
0.159 |
|
|
|
|
|
|
Total Value of Other Assets |
7.385 |
1.332 |
0.679 |
|
TOTAL ASSETS |
RS.8.143
MILLIONS |
RS.10.372
MILLIONS |
RS.5.315
MILLIONS |
|
NET WORTH |
RS.1.500
MILLIONS |
RS.4.500
MILLIONS |
RS.4.500
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUE
OF FRINGE BENEFITS IN TERMS OF SECTION 115 WC READ WITH SECTION 115WB FOR THE
ASSESMENT YEAR 2009-2010
(RS. IN MILLIONS)
|
Section under
Which Chargeable to Fringe Benefit Tax |
Name |
Amount of
Expenditure Incurred or Payment Made |
Percentage Expenditure/ Payment Being Fringe Benefits |
Value of Fringe
Benefits |
|
Free or concessional ticket provided by the
employer for private journeys of this employees or their family members |
Nil |
100% |
Nil |
|
Any contribution by the employer to any
approved Superannuation fund for employees |
Nil |
100% |
Nil |
|
Entertainment |
Nil |
20% |
Nil |
|
Provision of Hospitality of every kind by
the employer to any person |
Nil |
20% |
Nil |
|
Conference (Other than fee for participation by the
employees in any conference) |
Nil |
20% |
Nil |
|
Sales promotion including publicity |
0.009 |
20% |
0.002 |
|
Employees’ Welfare |
0.007 |
20% |
0.001 |
|
Conveyance |
0.017 |
20% |
0.003 |
|
Use of hotel, boarding and lodging
facilities |
Nil |
20% |
Nil |
|
Repair, Running (including fuel), maintenance of motor cars
and the amount of depreciation thereon |
0.082 |
20% |
0.016 |
|
Repair, Running ( Including Fuel) and
maintenance of aircraft and the amount of depreciation thereon |
Nil |
20% |
Nil |
|
Use of Telephone (Including mobile phone)
other than expenditure on leased telephone lines |
0.028 |
20% |
0.006 |
|
Maintenance of any accommodation in the
nature of guest house other than accommodation used for training purpose |
Nil |
20% |
Nil |
|
Festival Celebrations |
0.013 |
50% |
0.007 |
|
Use of health club and similar facilities |
Nil |
50% |
Nil |
|
Use of any other club facilities |
Nil |
50% |
Nil |
|
Gifts |
Nil |
50% |
Nil |
|
Scholarships |
Nil |
50% |
Nil |
|
Tour and Travel (Including foreign travel) |
0.075 |
5% |
0.004 |
|
|
|
|
|
|
|
Total |
|
0.231 |
|
0.039 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF IMMOVABLE PROPERTY
PART
– I (QUESTIONNAIRE)
GENERAL
INFORMATION
|
Purpose for Which Valuation Made |
To assess the Fair Market Value for the purpose of collateral
Security/ availing Credit Facility from Corporation Bank, Amboli Branch. |
|
|
|
|
Date on which Visit made |
05th Feb. 2010 |
|
|
|
|
Name of the owner /owners |
Mr. |
|
|
|
|
If the property is under joint ownership co-ownership, share of each
owner, Is the share undivided |
Ownership as per agreement Dated 22.11.2002 share certificate Not
issued. |
|
|
|
|
Brief description of the property. |
The said property consists of Residential Premises on 25th
Floor, Flat Nos. 2501 A and b Combined, At Glen Classic CHS Limited Building
No.3. |
|
|
|
|
Location, Street, Ward No. |
Sector 8, at |
|
|
|
|
Survey/ Plot No. of Land |
CTS. No.20, 21, 22, 29, 30 At Village Powai, Tal – Kurla |
|
|
|
|
It the Property Situated in residential/ : Commercial / mixed / industrial area |
Situated in Mixed Area |
|
|
|
|
Classification of locality — high class / middle class/ poor class. |
High Class |
|
|
|
|
Proximity to civic amenities like schools offices, hospitals, market,
cinemas, etc. |
Available at 1 to 2 km distance. Railway Station, Kanjur Marg (West), at 4 km distance. |
|
|
|
|
Means and proximity to surface Communication by which the locality is
Served. |
Autos, Buses, Taxis and suburban railway service available |
|
|
|
|
LAND |
|
|
Area of land supported by documentary |
Residential Premises on 25th Floor, Flat Nos. 2501 A and B
Combined at Glen Classic CHS Limited. Admeasuring Carpet Area 1146 sq ft and Built up area 1604 sq ft as per my opinion and Built up area 1230 (430 + 900) Sq. ft. as per agreement (Combined). |
|
|
|
|
Roads or lanes on which land is abutting |
At Near |
|
|
|
|
Is it freehold or lease land |
|
|
|
|
|
If lease-hold the name of lessors/ lessee, nature of lease, date of
commencement and termination of lease and terms of renewal of lease |
NA |
|
|
|
|
Does the land fall in area included in town lanning scheme or any
development of Govt. of any statutory body? If so, give particulars |
Falls within limits of MCGM Taluka Kurla |
|
|
|
|
Has any contribution been made towards development or is any
contribution still outstanding? |
Surrounded by compound wall and gates |
|
|
|
|
IMPROVEMENTS |
|
|
Is the building owner occupied, tenant, or both |
Owner Occupied (Residential Flat Combined) |
|
|
|
|
What is F. S. I. permissible and percentage actually utilized? |
O.C.No.CE/721/BPES/AS Dated: 26.02.2002. |
|
|
|
|
RENTS |
|
|
Give details of water and electricity charges if any to be borne by
the owner. |
Borne by Owner. |
|
|
|
|
If a pump is installed, who has to bear the cost. |
Borne and Maintained by Owner. |
|
|
|
|
Who has to bear the cost of electricity for lighting of common space
like entrance, hall stairs, passages, compounds etc. |
Borne and Maintained by Owner. |
|
|
|
|
What is the amount of property tax? Who to bear it? Give details with
documentary proof |
For Flat No.2501/B Rs.2130/- included in maintenance charged of
Rs.6693/- quarter and flat No.2501 A, Rs.4455/- included in maintenance
charges of Rs.10131/- quarter and borne by owner. |
|
|
|
|
Is the building insured? If so, give policy No. amount for which it is
assured and the annual premium |
Not Known |
|
|
|
|
SALES |
|
|
Give instance of sale of immovable property in the locality on a
separate sheet, including the name and address of the property, registration
No. sale price and area land sold. Land rate / adopted in this valuation If sale instances are not available or relied upon the basis of
arriving at the land rate |
The Fair Market Value of the said Property is assessed from the market
survey and inquiry from Builders and Estate Agents. The combined Flat are on 25th Floor, Building is 8 years
old. Fair Market Value of said premises is as follows. The built up area 1230 sq. ft. @ Rs.19000/- = Rs.23.370 Millions |
|
|
|
|
COST OF
CONSTRUCTION: |
|
|
Year of commencement of construction and year of completion. |
Year 1999- 2001 |
TECHNICAL DETAILS FOR THE PREMISES
|
No of floor and height of floor. |
Stilt + Podium + 26th Floors having 9’-6” height |
|
|
|
|
Plinth area- floor- wise. (As per is : 3861-1966) |
Residential Premises on 25th Floor, Flat Nos. 2501 A and B
Combined at Glen Classic CHS Limited. Admeasuring Carpet Area 1146 sq ft and Built up area 1604 sq ft as per my opinion and Built up area 1230 (430 + 900) Sq. ft. as per agreement (Combined). |
|
|
|
|
Year of construction |
1999- 2001 |
|
|
|
|
Estimated future life |
Approx. 55 Years |
|
|
|
|
Types of construction- load bearing wall / R.C.C. |
R.C.C. Framed Structure |
|
|
|
|
Types of Foundations. |
R.C.C. |
|
|
|
|
WALLS |
|
|
a) Basement and plinth |
9” thick brick masonry |
|
b) Super structure above |
9” thick brick masonry |
|
|
|
|
Partitions |
N.A. |
|
|
|
|
Door and windows (Floor — wise) |
Wooden Frame, Flush Doors and Anodised Aluminimum Windows. |
|
|
|
|
Flooring (Floor — wise) |
Italian Marble Flooring |
|
|
|
|
Finishing (Floor — wise) |
Sand face cement plaster externally and neeru cement plaster
internally. |
|
|
|
|
Roofing and terracing |
Flat RCC Roof |
|
|
|
|
Special architectural or decorative features if any.: |
Not Provided |
|
|
|
|
a) Internal wiring- surface or conduit. |
Conduit |
|
b) Class of fittings superior / ordinary / poor |
Good Quality |
|
|
|
|
a) Sanitary installations. |
Three Toilets Provided |
|
b) Class of fittings superior coloured/ superior white /ordinary |
Good Quality |
|
|
|
|
Compound wall |
Masonary Wall provided with Gates |
|
|
|
|
No. of lifts and capacity. |
Three |
|
|
|
|
Underground sump. |
Provided. |
|
1. Capacity |
As per MCGM regulations |
|
2. Type of construction |
R.C.C. |
|
|
|
|
Overhead Tank |
Provided |
|
1. Where located |
On Toilet Block |
|
2. Capacity |
As per MCGM regulations. |
|
3. Type of construction |
R.C.C. |
|
|
|
|
Pumps No. and their horse power |
Provided of adequate capacity. |
|
|
|
|
Roads and paving within the compound, approx area, type of paving. |
Concrete Tile Paving |
|
|
|
|
Sewage disposal / whether connected to public sewers. If septic tanks
provided, no. and capacity. |
Connected to public server |
------------------------------------------------------------------------------------------------------------------------------
PRESENT BANKERS AND NATURE AND EXTENT OF CREDIT FACILITIES
|
Name of the Bank |
Nature if Facility |
Existing Credit Limit |
|
|
|
|
|
Corporation Bank |
PCL |
Rs.1.500 Millions |
|
|
|
|
DETAILS OF CREDIT LIMITS
|
Nature if Facility |
Amount |
Purpose |
|
|
|
|
|
Renewal |
Rs.1.500 Millions |
PCL Post Shipment |
|
|
|
|
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Air Conditioner
· Office Equipment
· Fax Machine
· Furniture and Fixture
· Machinery
· Motor Car
· Office Premises
· Weighting scale
·
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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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.