MIRA INFORM REPORT
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Report Date : |
06.01.2012 |
IDENTIFICATION DETAILS
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Name : |
DETECH DEVICES PRIVATE LIMITED |
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Registered
Office : |
C-6, Mansarover Garden, New Delhi – 110015, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.09.1986 |
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Com. Reg. No.: |
55-025599 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.750 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1986PTC025599 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD00534C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Security Equipments |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 13000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but
correct. The company can be considered for small 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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A1 |
A1 |
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Nangia |
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Designation : |
Manager |
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Contact No.: |
91-9810485685 |
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Date : |
04.01.2012 |
LOCATIONS
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Registered Office : |
C-6, Mansarover Garden, New Delhi – 110015, Delhi, India |
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Tel. No.: |
91-11-64683241 |
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Mobile No.: |
91-9810485685 (Mr. P.C. Nangia) |
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Fax No.: |
91-11-25915912 |
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E-Mail : |
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Area : |
8000 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Bindal Arvind |
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Designation : |
Director |
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Address : |
F-139, Mansarovar Garden, New Delhi – 110015, Delhi, India |
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Date of Birth/Age : |
04.08.1953 |
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Date of Appointment : |
11.09.1986 |
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DIN No.: |
00050072 |
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Name : |
Mrs. Alka Bindal |
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Designation : |
Director |
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Address : |
F-139, Mansarovar Garden, New Delhi – 110015, Delhi, India |
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Date of Birth/Age : |
11.06.1960 |
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Date of Appointment : |
11.09.1986 |
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DIN No.: |
00050089 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Bindal Arvind |
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38255 |
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Alka Bindal |
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21755 |
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Antrix Bindal |
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15000 |
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Total |
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75010 |
AS ON 30.09.2011
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Equity Shares
Break Up |
Percentage |
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Directors or relatives of Directors |
100.000 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Security Equipments |
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Imports : |
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Products : |
Security Equipments |
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Country : |
China |
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Terms : |
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Purchasing : |
Depends |
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Selling : |
Depends |
GENERAL INFORMATION
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Customers : |
Government Department |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
Oriental Bank of Commerce,
Kirti Nagar, New Delhi – 110015, Delhi, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Mukesh Raj and Company Chartered Accountant |
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Address : |
A-1/69, Sector – 5, Rohini, Delhi – 110085, India |
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PAN No.: |
AAHFM7788A |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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75010 |
Equity Shares |
Rs.10/- each |
Rs. 0.750
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.750 |
0.250 |
0.250 |
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2] Share Application Money |
0.193 |
2.193 |
0.000 |
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3] Reserves & Surplus |
2.336 |
0.464 |
0.260 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.279 |
2.907 |
0.510 |
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LOAN FUNDS |
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1] Secured Loans |
8.455 |
2.156 |
2.363 |
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2] Unsecured Loans |
1.284 |
0.828 |
0.226 |
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TOTAL BORROWING |
9.739 |
2.984 |
2.589 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.018 |
5.891 |
3.099 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.243 |
0.528 |
0.494 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.082 |
0.082 |
0.082 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.385
|
0.850 |
1.854 |
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Sundry Debtors |
8.397
|
3.962 |
3.284 |
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Cash & Bank Balances |
0.072
|
0.620 |
0.009 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.218
|
2.563 |
1.493 |
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Total
Current Assets |
16.072
|
7.995 |
6.640 |
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Sundry Creditors |
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Other Current Liabilities |
6.212
|
2.616 |
4.005 |
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Provisions |
0.167
|
0.098 |
0.112 |
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Total
Current Liabilities |
6.379
|
2.714 |
4.117 |
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Net Current Assets |
9.693
|
5.281 |
2.523 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.018 |
5.891 |
3.099 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
19.046 |
14.872 |
19.975 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
18.097 |
14.377 |
19.613 |
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Advertising Expenses |
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TOTAL |
18.097 |
14.377 |
19.613 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.949 |
0.495 |
0.362 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.409 |
0.178 |
0.100 |
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PROFIT BEFORE
TAX |
0.540 |
0.317 |
0.262 |
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Less |
TAX |
0.167 |
0.113 |
0.113 |
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PROFIT AFTER TAX
|
0.373 |
0.204 |
0.149 |
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IMPORTS |
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CIF Value |
1.784 |
0.849 |
5.001 |
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TOTAL IMPORTS |
1.784 |
0.849 |
5.001 |
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Earnings Per
Share (Rs.) |
4.97 |
2.71 |
1.98 |
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Expected Sales (2011-2012) : Rs. 25.000 millions
The above information has been parted by Mr. Nangia.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.95
|
3.63 |
0.74 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.61
|
3.71 |
3.67 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.07 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.91
|
1.96 |
13.14 |
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Current Ratio (Current Asset/Current Liability) |
|
2.51
|
2.94 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
----------- |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
----- |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
---- |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
Yes |
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20. Export / Import details |
Yes |
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21. Market information |
------- |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
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24. Banking facility details |
----- |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
------ |
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29. Last accounts filed at ROC |
------ |
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30. Major Shareholders, if available |
------ |
OPERATION AND
FINANCIAL RESULTS :
The company made profits during this year. During the year, company’s
sales were to the tune of Rs. 19.046 millions as against the sales of Rs. 13.641
millions during the last year.
FUTURE PROSPECTUS
:
The directors feel confident that the company should do well in the
future.
FORM 8
|
Corporate
identity number of the company |
U74899DL1986PTC025599 |
|
Name of the
company |
DETECH DEVICES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-6, Mansarover
Garden, New Delhi – 110015, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Others |
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Particular of
charge holder |
Oriental Bank of
Commerce, Kirti Nagar, New Delhi – 110015, Delhi, India |
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Nature of
instrument creating charge |
Loan Doc - 13 being
Supplemental agreement to secure Credit Facilities dated 10.03.2011. |
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Date of
instrument Creating the charge |
10/03/2011 |
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Amount secured by
the charge |
Rs. 16.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest PLR Plus 1% being
13.75% for limit upto Rs. 5.000 millions and PLR Plus 2% being 14.75% for
limit above Rs. 5.000 millions. Penal Interest @2% p.a. above the normal rate
of interest in case of any defaults. Terms of repayment On demand. Margin 25% Extent and operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of Stocks
and Receivables whether present or future. First charge on
all present and future current and fixed assets of the company. Equitable
mortgage of plot, land and building ad measuring 266.66 sq. at C-6,
Mansarover Garden, New Delhi standing in the name of Sh. Arvind Bindal and
Smt Alka Bindal |
|
Date of
instrument modifying the charge |
18/06/2010 |
|
Particulars of
the present modification |
Credit Facilities
availed by the Detech Devices Private Limited is enhanced from Rs.15.000
millions to Rs.16.000 millions Bifurcation given below: Cash Credit
Rs.6.000 millions (Enhanced from Rs.5.000 millions) Bank Guarantee
Rs.10.000 millions (Existing including Sub Limit of LC of Rs.5.000 millions) |
FIXED ASSETS :
·
Car
·
Celluler Phone
·
Computer Peripherals
·
Cycle
·
Dies and Tools
·
Fan
·
Furniture and Fixtures
·
Plant and Machinery
·
Office Equipments
·
Type Writer
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. 52.78 |
|
|
1 |
Rs. 82.33 |
|
Euro |
1 |
Rs. 69.19 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.