MIRA
INFORM REPORT
|
Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
D.E.W. CONCRETE TIES PRIVATE LIMITED [w.e.f. 05.01.2007] |
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Formerly Known
As : |
DEW CONCRETE TIES LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.09.1987 |
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Com. Reg. No.: |
03-002723 |
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Capital Investment
/ Paid-up Capital : |
Rs.11.673 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U00327BR1987PTC002723 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTND00481F |
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PAN No.: [Permanent Account No.] |
AAACD8186B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Producer of PSC Sleeper. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [43] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
USD 5150000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered / Corporate Office : |
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Tel. No.: |
91-631-2420218 |
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Fax No.: |
91-631-2221354 |
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E-Mail : |
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Head Office : |
Fairdale, Road No. 15, Jawaharnagar, Azadnagar, |
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Tel. No.: |
91-657-2461009 |
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Fax No.: |
91-657-2461390 |
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E-Mail : |
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Plant : |
Located at Khamarnuagaon, Gurudijhatia, |
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Factory : |
Narsinggarh, Dalbhumgarh, East Singhbhum, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rakesh Srivastava |
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Designation : |
Director |
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Address : |
HIG A1, Madhav Baug, Colony Mango, East Singhbhum, |
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Date of Birth/Age : |
06.01.1954 |
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Date of Appointment : |
01.09.1987 |
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DIN : |
00528897 |
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Other Directorship: |
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Name : |
Mrs. Bharati Rakesh Srivastava |
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Designation : |
Director |
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Address : |
HIG A1, Madhav Baug, Colony Mango, East Singhbhum, |
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Date of Birth/Age : |
01.03.1957 |
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Date of Appointment : |
29.03.1989 |
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DIN : |
00529006 |
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Other Directorship: |
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Rahul Rakesh Srivastava |
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Designation : |
Director |
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Address : |
HIG A1, Madhav Baug, Colony Mango, East Singhbhum, |
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Date of Birth/Age : |
01.05.1978 |
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Date of Appointment : |
01.10.2007 |
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DIN : |
01598823 |
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Other Directorship: |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2010
|
Names of Shareholders |
|
No. of Shares |
|
Integrated Real Estate
Private Limited |
|
5000 |
|
Daya Concretes Private
Limited |
|
57000 |
|
Prime Alloy Steels
Private Limited |
|
30000 |
|
Ultra Financing Services
Private Limited |
|
4404 |
|
Onward Services Private
Limited |
|
10000 |
|
Rakesh Srivastava |
|
1375 |
|
Bharati R. Srivastava |
|
1450 |
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Sushila Sahay |
|
2750 |
|
Sanjay Sahay |
|
1500 |
|
Surabhi Sahay |
|
500 |
|
Durba Sahay |
|
1000 |
|
Rahul Srivastava |
|
250 |
|
Richa Srivastava |
|
250 |
|
Sukirti Sahay |
|
750 |
|
Divya Sahay |
|
500 |
|
Total |
|
116729 |
As on 30.09.2010
|
Equity Share
Break Up Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Producer of PSC Sleeper. |
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Products : |
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PRODUCTION STATUS [As on 31.03.2010]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
PSC Sleepers |
Nos. |
NA |
300,000 |
PRODUCTION STATUS [As on 31.03.2010]
|
Particulars |
Unit |
Actual
Production |
|
PSC Sleepers |
|
|
|
Railway |
Nos. |
38124 |
|
Others |
Nos. |
28160 |
|
Railway Point X-ing |
Nos. |
121 |
|
Point X-ing [TISCO] |
Nos. |
73 |
|
Stacker Reclaimer |
Nos. |
1540 |
|
Derailing Switch |
Nos. |
4 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Axis Bank Limited, Bistupur, |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
L and T Finance Limited, L and T House, Ballard Estate,,
Mumbai - 400001, |
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Auditors : |
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|
Name : |
Anjani Kumar Mishra and Company Chartered Accountants |
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Address : |
305, |
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Tel. No.: |
91-657-6540163 |
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Mobile No.: |
91-9939576871 |
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E-Mail : |
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PAN : |
AIUPM5744R |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs.20.000
millions |
|
|
|
|
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Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
117,054 |
Equity Shares |
Rs.100/- each |
Rs.11.705
millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
116,729 |
Equity Shares |
Rs.100/- each |
Rs.11.673
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
11.673 |
11.673 |
11.673 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39.903 |
36.614 |
39.313 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
51.576 |
48.287 |
50.986 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
40.305 |
49.289 |
49.073 |
|
|
2] Unsecured Loans |
3.046 |
3.046 |
4.086 |
|
|
TOTAL BORROWING |
43.351 |
52.335 |
53.159 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.207 |
|
|
|
|
|
|
|
|
TOTAL |
94.927 |
100.622 |
104.352 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.214 |
13.825 |
16.654 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.229 |
7.229 |
7.230 |
|
|
DEFERREX TAX ASSETS |
0.146 |
0.019 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
45.705
|
44.351 |
43.464 |
|
|
Sundry Debtors |
30.412
|
28.794 |
23.635 |
|
|
Cash & Bank Balances |
3.817
|
7.085 |
15.972 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
65.259
|
62.687 |
53.106 |
|
Total
Current Assets |
145.193
|
142.917 |
136.177 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
23.597
|
19.075 |
18.655 |
|
|
Other Current Liabilities |
42.350
|
40.545 |
33.403 |
|
|
Provisions |
3.908
|
3.748 |
3.651 |
|
Total
Current Liabilities |
69.855
|
63.368 |
55.709 |
|
|
Net Current Assets |
75.338
|
79.549 |
80.468 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
94.927 |
100.622 |
104.352 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131.872 |
79.553 |
133.770 |
|
|
|
Other Income |
4.650 |
2.487 |
16.755 |
|
|
|
TOTAL (A) |
136.522 |
82.040 |
150.525 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
107.779 |
69.305 |
126.818 |
|
|
|
Personnel Expenses |
8.162 |
5.730 |
8.426 |
|
|
|
Administration, Selling and other
Expenses |
9.327 |
5.541 |
6.023 |
|
|
|
Misc. Expenditure written off |
0.000 |
0.000 |
0.042 |
|
|
|
Increase / Decrease in stock |
[2.526] |
[2.317] |
[1.811] |
|
|
|
TOTAL (B) |
122.742 |
78.259 |
139.498 |
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.780 |
3.781 |
11.027 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.382 |
5.211 |
5.184 |
|
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.398 |
[1.430] |
5.843 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.249 |
2.853 |
3.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
BEFORE TAX (E-F) (G) |
4.149 |
[4.283] |
2.504 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.130 |
[0.130] |
0.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX (G-H) (I) |
4.019 |
[4.153] |
1.824 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
[0.896] |
3.257 |
1.433 |
|
|
|
|
|
|
|
|
|
Less |
Prior Period Item |
[0.857] |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.266 |
[0.896] |
3.257 |
|
|
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
34.46 |
[35.38] |
15.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.94
|
[5.06] |
1.21 |
|
|
|
|
|
|
|
(PBT/Sales) |
(%) |
3.15
|
[5.38] |
1.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.63
|
[2.73] |
1.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
2.39 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
Financial Results
:
The company has achieved a turnover of Rs.136.522 millions in current year
compared to Rs.82.040 millions in previous year.
Contingent
Liabilities [as on 31.03.2010]
Contingent Liabilities for guarantee given by bank amounts to Rs.2.720
millions [previous year Rs.5.020 millions]
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U00327BR1987PTC002723 |
|
Name of the
company |
D.E.W. CONCRETE
TIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
L and T Finance Limited, L and T House, Ballard Estate,,
Mumbai - 400001, CIN : U65990MH1994PLC083147 Email : mca1@ltfinance.com
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation No. 597675 |
|
Date of
instrument Creating the charge |
12.10.2010 |
|
Amount secured by
the charge |
Rs.0.275 million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- 12.55% per annum Terms of
Repayment - 24 months Margin - RS.
0.063 million Extent and Operation
of the charge - first and exclusive charge by way of hypothecation as per
clause nos. 2(i), 2(ii), 3, 4, 7, 8(vi), and 16 vide the deed of
hypothecation dated 12.10.2010 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Asset type: D G
Set Asset
description: 1 no. 25 KVA silent DG Set cummin engine bearing eng. No. X2SG2 Asset location: |
FIXED ASSETS :
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixtures
- Computer
- Other
Equipments
- Electrical
Installations
- Vehicles
- Steam Chamber
- Tube Well
- Lab and
Testing Equipments
- Tools and
Dies
- Motor Car
- Motor Cycle
- Air Conditioner
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.52.10 |
|
|
1 |
Rs.81.30 |
|
Euro |
1 |
Rs.70.07 |
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 |
4 |
|
--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 |
|
43 |
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.