MIRA
INFORM REPORT
|
Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
DURON POLYVINYLS PRIVATE LIMITED |
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Registered
Office : |
1089 / 25-28, Shiv Motor Market, Kashmere Gate, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
15.03.2005 |
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Com. Reg. No.: |
55-133946 |
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Capital Investment/
Paid-up Capital: |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U25209DL2005PTC133946 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD08935D |
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PAN No.: [Permanent Account No.] |
AACCD1507A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of PVC Products. |
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No. of
Employees: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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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 39000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are reported as fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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
|
Name : |
Mr. Nishank |
|
Designation : |
Director |
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Contact No.: |
91-9910174583 |
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Date : |
22.05.2012 |
LOCATIONS
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Registered Office : |
1089 / 25-28, Shiv Motor Market, Kashmere Gate, Delhi – 110006, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9910174583 (Mr. Nishank Tandon) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Khasra No. 4651/279, Near Chungi, Daultabad Road, Gurgaon - 122001,
Haryana, India |
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Tel. No.: |
91-124-3295483 |
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Fax No.: |
91-124-2468045 |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Jasvinder
Singh Bhatia |
|
Designation : |
Director |
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Address : |
125, Milan Appartment West Enclave, Pitam Pura, Delhi – 110034, India |
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Date of Birth/Age : |
20.12.1961 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.03.2005 |
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DIN No.: |
01072002 |
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Name : |
Mr. Nishank
Tandon |
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Designation : |
Director |
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Address : |
AG-1/112-C, Vikas
Puri, New Delhi – 110018, India |
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Qualification : |
Graduate |
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Date of Appointment : |
15.03.2005 |
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DIN No.: |
01156549 |
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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Jasvinder Singh Bhatia |
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5000 |
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Nishank Tandon |
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5000 |
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Total |
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10000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of PVC Products. |
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Products : |
•
PVC Waterstop •
PVC Doors and Profiles •
PVC Fills •
PVC Mist Eliminators •
PVC Tube Settler (PVC Media) •
Cooling Tower Components •
Neoprene Rubber Sheets and Gaskets of Various
Sizes •
PVC Canal Lining •
Tube Deck Media •
MBBR Media •
Filter Media •
Saff Media |
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Terms : |
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Selling : |
Cash, Credit and Depends |
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Purchasing : |
Cash, Credit and Depends |
GENERAL INFORMATION
|
Suppliers : |
·
Keller Industries ·
Khera Plastichem Limited |
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Customers : |
Manufacturer and Trader ·
Gammon India ·
L and T ·
Narmada Project Gujarat and Madhya Pradesh ·
Nuclear Power Corporation ·
N.T.P.C. ·
Dessicant Rotors Private Limited ·
Sparetex (India) ·
Batli Boy Limited ·
SK Systems Private Limited ·
Zeco Aircon Industries Private Limited ·
North Streets Cooling Towers Private Limited ·
Hamon Thermopack Engineers Private Limited ·
ABC Coimbatore Private Limited ·
Bell Cooling Towers Private Limited ·
Simplex Concrete Piles India Limited ·
Afcons Infrastrusture Limited ·
Shriram EPC Limited ·
Save Air India Private Limited ·
Cary Aire Equipments Private Limited |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Indian Bank, Gurgaon, Haryana, India |
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Facilities : |
Overdraft Rs.5.000 Millions (From Indian
Bank) (Rs.
In Millions)
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Pavan Hans and Company Chartered Accountants |
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Address : |
Room No. 204, 4855-56/24, Ansari Road, Darya Ganj, New Delhi - 110002,
India |
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Tel. No.: |
91-11-23268622/ 23288622 |
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PAN No.: |
AAGPJ2950C |
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Memberships : |
Participating in Plast India |
CAPITAL STRUCTURE
As on: 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
8.838 |
7.005 |
6.305 |
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3] Reserves & Surplus |
0.881 |
0.530 |
0.586 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.819 |
7.635 |
6.991 |
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LOAN FUNDS |
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1] Secured Loans |
0.891 |
0.175 |
0.268 |
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2] Unsecured Loans |
1.201 |
1.661 |
1.304 |
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TOTAL BORROWING |
2.092 |
1.836 |
1.572 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.095 |
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TOTAL |
11.911 |
9.471 |
8.658 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.547 |
5.053 |
5.297 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
5.440
|
2.365 |
2.386 |
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Sundry Debtors |
8.670
|
5.380 |
2.573 |
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Cash & Bank Balances |
2.740
|
1.511 |
0.812 |
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Other Current Assets |
0.182
|
0.081 |
0.118 |
|
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Loans & Advances |
1.238
|
0.533 |
0.855 |
|
Total
Current Assets |
18.270
|
9.870 |
6.744 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Sundry Creditor |
13.418
|
5.154 |
3.097 |
|
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.504
|
0.343 |
0.361 |
|
Total
Current Liabilities |
13.922
|
5.497 |
3.458 |
|
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Net Current Assets |
4.348
|
4.373 |
3.286 |
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MISCELLANEOUS EXPENSES |
0.016 |
0.045 |
0.075 |
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TOTAL |
11.911 |
9.471 |
8.658 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
50.670 |
32.456 |
25.637 |
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
50.775 |
32.557 |
25.373 |
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|
PROFIT BEFORE
TAX (E-F) |
0.363 |
(0.058) |
0.264 |
|
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
64.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.70.000 Millions
The above information has been parted by Mr. Nishank
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.41
|
(0.39) |
2.19 |
|
|
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
(0.01) |
0.04 |
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|
|
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|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.63
|
0.96 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.80 |
1.95 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
FINANCIAL RESULT:
During the year the turnover of the company has increased to Rs.50.670 Millions from the previous year's of Rs.32.456 Millions. During the year the company has earned a profit of Rs. 0.350 Million as compare to previous year's loss of Rs. 0.058 Million which has been carried forward to the Balance Sheet. The directors are trying their level best to increase the business within the objects of the company.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U25209DL2005PTC133946 |
|
Name of the
company |
DURON POLYVINYLS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
1089 / 25-28, Shiv Motor Market, Kashmere Gate, Delhi – 110006, India E-mail: tandon.nishank@yahoo.co.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10043425 |
|
Type of charge |
Book debts Others (Stocks) |
|
Particular of
charge holder |
Indian Bank,
1376, Lothian Road Kashmere Gate, Delhi – 110006, India E-mail: ibnewdelhimain@vsnl.net |
|
Nature of
instrument creating charge |
Hypothecation
Agreement Dated 01/03/2012 |
|
Date of
instrument Creating the charge |
01.03.2012 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest BPLR + 2.25%+
0.50 % Presently 13.50 %. Terms of
Repayment As per copy of
agreement enclosed Margin 25% on stocks and
BD upto 90 days Extent and
Operation of the charge As per copy of
agreement enclosed |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Charge on goods,
produce, merchandise and stock stored or to be stored from time to time in premises
at Near Chungi, Daultabad Road, Gurgoan, Haryana. |
|
Particulars of
the present modification |
Cash Credit and
book debt limit Rs 1.000 Million enhance to Rs.5000 Millions |
FIXED ASSETS:
•
Air Conditioner
•
Building
•
Car
•
Computer
•
Cycles
•
Fan
•
Fax Machine
•
Fire Equipment
•
Generator
•
Mobile
•
Office Equipment
•
Plant And Machinery
•
Ro Water Purifier
•
Safety Equipment
•
Watch
TRADE REFERENCE:
•
Keller Industries
•
Khera Plastichem Limited
·
Gammon India
•
L and T
AS PER WEBSITE DETAILS:
PROFILE
Subject is engaged in the manufacture, supply
and export of PVC products. There complete range of products includes PVC, PVC
Doors and Profiles, PVC Fills, PVC Mist Eliminators, PVC Tube Settler (PVC
Media), Cooling Tower Components. Vast knowledge and thorough understanding of
the field is there specialty and they are known for effective product quality.
Every product manufactured in there premises has its own identical features and
within a very short duration they have created a special place for there selves
both in national and international market. They are in the production of PVC
Components so they are ready to develop any item in PVC which is commercially
viable.
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.57.22 |
|
|
1 |
Rs.89.42 |
|
Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
|
27 |
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.