|
Report Date : |
14.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DUGAR POLYMERS LIMITED (w.e.f. 03.12.2009) |
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Formerly Known
As : |
DUGAR POLYMERS PRIVATE LIMITED |
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|
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Registered
Office : |
Plot No.26, Icchapore, Bhatpore, G.I.D.C, Hazira, Surat–394510,
Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.02.2003 |
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Com. Reg. No.: |
04-042041 |
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Capital
Investment / Paid-up Capital : |
Rs.17.567 Millions |
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|
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CIN No.: [Company Identification
No.] |
U17119GJ2003PLC042041 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTD01893D |
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PAN No.: [Permanent Account No.] |
AABCD7959B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Sheets, Rod and Pipes |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 260000 |
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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 and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B+ (Long Term Rating) |
|
Rating Explanation |
Having high risk of default regarding timely servicing of financial
obligation. |
|
Date |
February 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety regarding timely payment of financial
obligation. It carry very high credit risk and are susceptible to default |
|
Date |
February 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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. Jignesh |
|
Designation : |
Business Development Executive |
|
Contact No.: |
91-26-2669336 |
|
Date : |
13.08.2012 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.26, Icchapore, Bhatpore, G.I.D.C, Hazira, |
|
Tel. No.: |
91-260-2669336/35 |
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Mobile No.: |
91-9099921200 (Mr. Rajesh Dugar) |
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Fax No.: |
91-260-2669337 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office /
Factory 2: |
Survey No.: 351/1, |
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Tel. No.: |
91-260-2669336 |
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Fax No.: |
91-260-2669337 |
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Area : |
90000 sq. ft |
|
Location : |
Owned |
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|
|
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Factory 3: |
Survey No. 357/1/3, Behind Dadra Garden, Dadra Nagar Haveli, Silvassa
396230, |
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Area : |
30000 sq. ft. |
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Location : |
Owned |
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|
|
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Branch Office 1 : |
1-11-240/5/1, 5th Floor, Shamlal Building, Begampet,
Hyderabad, Andhra Pradesh, India |
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|
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Branch Office 2 : |
12/260, Shastrinagar, Khatodra, Surat-395002, Gujarat, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajesh Kumar Dugar |
|
Designation : |
Managing Director |
|
Address : |
Plot No.35, DV Colony, |
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Date of Birth/Age : |
23.11.1973 |
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Qualification : |
Graduate |
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Date of Appointment : |
20.02.2003 |
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DIN No : |
00730059 |
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|
|
|
Name : |
Ms. Renu M Dugar |
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Designation : |
Director |
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Address : |
1-8-155-6-6A, 301- Mark Residency, |
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Date of Birth/Age : |
08.02.1971 |
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Qualification : |
Graduate |
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Date of Appointment : |
20.02.2007 |
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DIN No : |
00235675 |
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|
|
|
Name : |
Mr. Manoj Kumar Dugar |
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Designation : |
Director |
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Address : |
1-8-155-6-6A, 301- Mark Residency, |
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Date of Birth/Age : |
25.05.1968 |
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Qualification : |
Graduate |
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Date of Appointment : |
20.02.2003 |
|
DIN No : |
00352733 |
KEY EXECUTIVES
|
Name : |
Mr. Jignesh |
|
Designation : |
Business Development Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Manoj K Dugar |
140310 |
|
Rajesh Kumar Dugar |
222500 |
|
Renu M Dugar |
223000 |
|
Sushil Kumar Surana |
27920 |
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Pratibha Surana |
11000 |
|
Tara Devi Dugar |
148750 |
|
Renu R Dugar |
7500 |
|
Sohan Kumar |
16000 |
|
Vinod Kumar |
10800 |
|
Prasan Kumar |
5300 |
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Deepak Baid |
5300 |
|
Pannalal Bohara |
10600 |
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Amarchand Bohara |
15000 |
|
Punamchand Bohara |
10000 |
|
Sushila Devi Bohara |
22500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
24.85 |
|
Directors or relatives of Directors |
33.69 |
|
Other top fifty shareholders |
41.46 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plastic Sheets, Rod and Pipes |
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Products : |
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Exports : |
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Products : |
·
Plastic Sheets ·
Rods ·
Pipes |
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Countries : |
·
·
·
Middle East Countries ·
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
·
China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
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|
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|
Plastic Sheets |
Kgs. |
3307939.000 |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
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Bankers : |
·
Bank of ·
Central Bank of ·
Canara Bank, Silvassa Branch, Prathmesh
Apartment, Tokar Khada, Silvassa – 396230, Dadar |
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Facilities : |
Notes: i)
Working capital facilities from bank are secured
/ to be secured by way of first charge on hypothecation of stock of raw
materials, stock in progress, finished goods, stores and spares and book
debts ii)
Terms loan from bank is secured by way of
paripassu charge over land, plant and machinery and all other fixed assets of
the company both present and future. iii)
The term loan and working capital loan bank are
also secured by the personal guarantees of some of the Directors and
Corporate Guarantee of M/s Basudeo Enterprises Private Limited and
Chandantara Commercial private Limited iv)
Vehicles loans provided by bank are secured by
hypothecation of respective assets. v)
Channel Finance loan from SBI Hyderabad facilities
is for the purpose of IOCL agency Business.
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chartered Accountants |
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Address : |
20B, |
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Tel. No.: |
91-33-40047188 / 40070953 |
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Fax No.: |
91-33-40047014 |
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PAN No.: |
ABDFS9117L |
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Related Parties : |
·
Chandan Tara Commercial Private Limited ·
Ayushman Merchants Private Limited ·
Defodit Delcom Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1720730 |
Equity Shares |
Rs.10/-each |
Rs. 17.207
Millions |
|
48000 |
Equity Shares |
Rs.7.5/-
each |
Rs. 0.360
Million |
|
|
TOTAL |
|
Rs. 17.567 Millions |
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 |
17.567 |
10.867 |
10.867 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
46.397 |
39.648 |
32.936 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
63.964 |
50.515 |
43.803 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
315.052 |
78.293 |
73.924 |
|
|
2] Unsecured Loans |
0.000 |
1.700 |
0.000 |
|
|
TOTAL BORROWING |
315.052 |
79.993 |
73.924 |
|
|
DEFERRED TAX LIABILITIES |
0.946 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
379.962 |
130.508 |
117.727 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
54.720 |
27.700 |
29.798 |
|
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Capital work-in-progress |
0.000 |
6.957 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.050 |
0.242 |
0.242 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.148 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.491
|
32.873
|
40.977
|
|
|
Sundry Debtors |
125.500
|
67.857
|
44.181 |
|
|
Cash & Bank Balances |
172.268
|
6.782
|
6.003 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
15.194
|
12.784
|
9.008
|
|
Total
Current Assets |
356.453
|
120.296 |
100.169 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
24.620
|
20.709
|
12.179
|
|
|
Other Current Liabilities |
3.734
|
2.525
|
0.583
|
|
|
Provisions |
5.056
|
1.820
|
0.010 |
|
Total
Current Liabilities |
33.410
|
25.054 |
12.772 |
|
|
Net Current Assets |
323.043
|
95.242
|
87.397
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.149 |
0.219 |
0.290 |
|
|
|
|
|
|
|
|
TOTAL |
379.962 |
130.508 |
117.727 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
307.803 |
244.891 |
205.372 |
|
|
|
Other Income |
5.704 |
1.211 |
0.440 |
|
|
|
TOTAL (A) |
313.507 |
246.102 |
205.812 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
250.000 |
198.671 |
174.646 |
|
|
|
Personal Cost |
3.978 |
2.412 |
1.313 |
|
|
|
Stores and Spares Consumed |
1.728 |
0.869 |
0.000 |
|
|
|
Manufacturer and Other Expenses |
26.801 |
18.420 |
14.402 |
|
|
|
Excise Duty and Cess on Stocks |
0.000 |
1.826 |
0.000 |
|
|
|
Prior Period Expenses |
0.043 |
0.000 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
0.165 |
(1.815) |
(6.725) |
|
|
|
TOTAL (B) |
282.715 |
220.383 |
183.636 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
30.792 |
25.719 |
22.176 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.951 |
12.949 |
10.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.841 |
12.770 |
11.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.143 |
4.396 |
4.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.698 |
8.374 |
6.834 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.673 |
1.662 |
(0.265) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.025 |
6.712 |
7.099 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.396 |
21.959 |
14.860 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
35.421 |
28.671 |
21.959 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
8.790 |
7.659 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.08 |
6.18 |
6.53 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
340.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 400.000 Millions
The above information has been parted by Mr. Jignesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.24 |
2.73 |
3.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.15 |
3.42 |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.36 |
5.65 |
5.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.45 |
2.08 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.67 |
4.80 |
7.84 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Trade |
22.420 |
18.214 |
11.969 |
|
Capital Goods |
1.261 |
1.074 |
0.046 |
|
Expenses |
0.939 |
1.421 |
0.164 |
|
TOTAL |
24.620 |
20.709 |
12.179 |
NOTE:
The register office has been shifted from “12/260 Shastrinagarkhatodra,
Surat – 395002, Gujarat, India” to the present address w.e.f. 07.12.2011
FORM 8
|
Corporate
identity number of the company |
U17119GJ2003PLC042041 |
|
Name of the
company |
DUGAR
POLYMERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.26, Icchapore, Bhatpore, G.I.D.C, Hazira, E-mail : dugarpolymers@hotmail.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Bank of E-mail : indvap@bankofbaroda.com
|
|
Nature of
instrument creating charge |
Hypothecation
Agreement |
|
Date of instrument
Creating the charge |
23.03.2011 |
|
Amount secured by
the charge |
Rs.205.908
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Term Loan I, III And
IV, CC Limit - 3.50% Above Base Rate (BR) I.E. 13.00 % P.A., FCNR (B) Loan-
725 BPS Over 3 Months LIBOR Payable Monthly Terms of repayment Term Loan I - 48
Installment of Rs.0.220 million and Last of 0.160 million. Term Loan III -
59 Installment of Rs.0.208 million and Last of 0.210 million. Term Loan IV - 60
Installment of Rs.0.113 million. CC Limit - On
Demand Margin Term Loan I, III,
IV - 25% On Machinery And Equipments,
CC limit - 25% of materials, 40% for book debts up to 90 days Guarantee - 20%
Uniform for all performance BG, mobilization/ advance payment BG, and 100%
for all guarantees for disputed excise duty, sales tax, income tax dues. Extent and operation of the charge The Charge is
secured against the properties charged in the loan until the loan and
interest are fully paid up. |
|
Short particulars
of the property charged (Including location of the property) |
Raw materials of
polymers, plastic sheets, rods and pipes at S No. 357/1/3, Dadra, Silvassa and
351/1, Dadra, Silvassa, Plot No. 26, GIDC, Hazira, Bhatpore, Surat. Book Debts At S
No. 357/1/3, Dadra, Silvassa And 351/1, Dadra, Silvassa, Plot No. 26, GIDC,
Hazira, Bhatpore, Tangible Movable
Plant And Machineries At S No. 357/1/3, Dadra, Silvassa And 351/1, Dadra,
Silvassa, Plot No. 26, GIDC, Hazira, Bhatpore, |
FIXED ASSETS:
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. 55.41 |
|
|
1 |
Rs. 86.77 |
|
Euro |
1 |
Rs. 68.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.