|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DGP STEEL STAR ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G.T. Road, Bhiringi, Durgapur, Burdwan-713213, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.02.1990 |
|
|
|
|
Com. Reg. No.: |
21-048401 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.724 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104WB1990PTC048401 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CLD04066G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD0084F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Supplier of Steel Fabrication, Basic Oxygen
Furnace, Boiler Structure |
|
|
|
|
No. of Employees
: |
8 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 65000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. It is
improving steadily. Profitability appears to be low. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct. The company can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sumantra Rai |
|
Designation : |
Executive |
|
Contact No.: |
91-343-2555687 |
|
Date : |
28.07.2012 |
LOCATIONS
|
Registered Office / Factory : |
G.T. Road, Bhiringi, Durgapur, Burdwan-713213, West Bengal, India |
|
Tel. No.: |
91-343-2555687 / 2582392 |
|
Mobile No.: |
91-9434069908 (Mr. Sandip) |
|
Fax No.: |
91-343-2588408 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
Karangapara, Burdwan, West
Bengal, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Partha Sarathi Mukherjee |
|
Designation : |
Director |
|
Address : |
G. T. Road, Ushagaram, Asansol, Burdwan-713303, West Bengal, India |
|
Date of Appointment : |
15.02.1990 |
|
Voter ID No.: |
WB/38/260/420211 |
|
DIN No.: |
00994086 |
|
|
|
|
Name : |
Mr. Sandip Mukherjee |
|
Designation : |
Director |
|
Address : |
G. T. Road, Ushagaram, Asansol, Burdwan-713303, West Bengal, India |
|
Date of Appointment : |
15.02.1990 |
|
Voter ID No.: |
WB/38/260/420410 |
|
DIN No.: |
00994151 |
KEY EXECUTIVES
|
Name : |
Mr. Sumantra Rai |
|
Designation : |
Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Partha Sarathi Mukherjee |
17687 |
|
Sandip Mukherjee |
9050 |
|
Shyamaprasad Mukherjee |
100 |
|
Deasish Mukherjee |
100 |
|
Amar Bardhan Nath |
100 |
|
Subraja Banerjee |
100 |
|
Rabindranath Dutta |
100 |
|
TOTAL
|
27237 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Supplier of Steel Fabrication, Basic Oxygen
Furnace, Boiler Structure |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Manufacturer |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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No. of Employees : |
8 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Durgapur Branch, Nachan Road,
Durgapur-713213, West Bengal, India ·
State Bank of India ·
United Bank of India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sen and Ray Chartered Accountant |
|
Address : |
9, Lalbazar Street, Mercantile Buildings, 1st Floor,
B-Block, Kolkata-700001, West Bengal, India |
|
Tel. No.: |
91-33-22306594 / 22104161 |
|
E-Mail : |
|
|
PAN No.: |
AAMPS4186P |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27237 |
Equity Shares |
Rs.100/-
each |
Rs. 2.724
Millions |
|
|
|
|
|
NOTE
Out of which 8146 Equity Shares if Rs. 100/-
each issued pursuant to the agreement otherwise than for cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.724 |
1.933 |
1.933 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.622 |
10.014 |
6.742 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.346 |
11.947 |
8.675 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.930 |
17.387 |
16.467 |
|
|
2] Unsecured Loans |
0.000 |
0.341 |
0.481 |
|
|
TOTAL BORROWING |
30.930 |
17.728 |
16.948 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.276 |
29.675 |
25.623 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.640 |
8.728 |
6.224 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.266 |
0.267 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.567
|
6.403 |
7.112 |
|
|
Sundry Debtors |
26.901
|
14.752 |
11.416 |
|
|
Cash & Bank Balances |
10.758
|
6.064 |
5.252 |
|
|
Other Current Assets |
6.050
|
3.983 |
2.115 |
|
|
Loans & Advances |
0.746
|
0.542 |
0.426 |
|
Total
Current Assets |
52.022
|
31.744 |
26.321 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.081
|
3.765 |
3.099 |
|
|
Other Current Liabilities |
6.130
|
4.472 |
2.441 |
|
|
Provisions |
4.441
|
2.827 |
1.382 |
|
Total
Current Liabilities |
20.652
|
11.064 |
6.922 |
|
|
Net Current Assets |
31.370
|
20.680 |
19.399 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.276 |
29.675 |
25.623 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
CONTRACT RECEIPT
/ SALES |
108.365 |
104.781 |
58.031 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.522 |
4.735 |
1.730 |
|
|
|
|
|
|
|
Less |
TAX |
1.914 |
1.464 |
0.553 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.608 |
3.271 |
1.177 |
|
|
|
|
|
|
|
|
BALANCE OF
PROFIT CARRIED FORWARD |
3.608 |
3.271 |
1.177 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
132.47 |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
5.10
|
4.52 |
2.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.16
|
11.70 |
5.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.40 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.16
|
2.41 |
2.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52
|
2.87 |
3.80 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter’s background |
Yes |
|
8] |
No. Of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
OPERATION
Their Company is executing various work within India and abroad and the
operation and net profit of the Company has been increased during the year.
FORM 8
|
Corporate
identity number of the company |
U27104WB1990PTC048401 |
|
Name of the
company |
DGP STEEL STAR
ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
G.T. Road, Bhiringi, Durgapur, Burdwan-713213, West Bengal, India |
|
This form is for |
Modification of charge |
|
Charge
identification number of the charge to be modified |
90256793 |
|
Type of charge |
·
Immovable
property ·
Any
interest in immovable property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
|
Particular of charge
holder |
Bank of Baroda, Durgapur Branch, Nachan Road, Durgapur-713213, West Bengal, India |
|
Nature of
instrument creating charge |
Supplemental
Composite Instrument of Hypothecation of Goods, Book Debts, Movable Machinery
and Vehicles. |
|
Date of
instrument Creating the charge |
24.01.2011 |
|
Amount secured by
the charge |
Rs. 90.733
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit: At 3.25%
above Base Rate i.e. 12.25% p.a. with monthly rests. Term Loan: At
3.50% above Base Rate, presently 12.25% and 12.50% p.a. respectively with
monthly rests. Terms of repayment Working Capital
Limit is repayable on demand. The existing Term
Loans are repayable as per existing terms of Sanction. The Term Loan of
Rs.7.500 Millions is repayable in 60 monthly installments of Rs. 0.125
Million each commencing from April, 2011. Margin As stipulated by
the Bank for the respective assets from time to time. Cash Credit : 25%
on stock and 40% on book debts not older than 90 days, Term Loan : 25%
and Bank Guarantee :
25%. Extent and operation of the charge The charge
operates as first charge basis on the whole of the hypothecated current
assets, moveable fixed assets including plant and machinery of the company,
both present and future and mortgaged properties to secure the maximum amount
under the said charge fixed at Rs.90.733 Millions together with interest,
costs and charges thereon. Other The Borrower shall
not do or allow anything which may prejudice the security and shall comply
with the terms and conditions of the Agreements. All other terms
and conditions continue to remain as before in full force and effect. |
|
Short particulars
of the property charged (Including location of the property) |
Cash Credit :
Hypothecation of stock, stores and spares, receivables and other current
assets of the Company. Term Loan :
Hypothecation of Plant and Machinery. Hypothecation of vehicle. Hypothecation of
immovable machineries. Equitable
mortgage of leasehold factory land and structure at Karangapara, Durgapur. |
|
Date of
instrument modifying the charge |
27.03.2009 |
|
Particulars of
the present modification |
By this modification,
the overall limit is enhanced to
Rs.90.733 Millions as stated under and charge on hypothecated current assets,
movable fixed assets and mortgaged properties of the Company extended to
secure the overall limit together with interest, costs and charges thereon: Cash Credit
:Rs.20.000 Millions Term Loan-(New) :
Rs.7.500 Millions Term
Loan-(Existing) : Rs.0.520 Million Term
Loan-(Existing) : Rs. 0.770 Million WCDL (Existing):
Rs.1.943 Millions Bank Guarantee :
Rs.60.000 Millions Overall Limit : Rs.90.733
Millions. |
FIXED ASSETS
·
Land
·
Building and Factory Site
·
Plant and Machinery
·
Tools and Implements
·
Cycle
·
Vehicles
·
Computer
·
Furniture and
Fittings
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 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. 55.77 |
|
|
1 |
Rs. 86.74 |
|
Euro |
1 |
Rs. 68.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
|
42 |
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.