|
Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
DEV RAJ HI-TECH MACHINES LIMITED |
|
|
|
|
Registered
Office : |
Industrial Area, Ferozpur – 152002, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.07.1995 |
|
|
|
|
Com. Reg. No.: |
016774 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.575 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17219PB1995PLC016774 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AMRD11078E |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Rice Machinery, Paddy Cleaners,
Parboiling, Rice Dryers, Rice Whiteners, Rice Silky, Polishers, Floor Mills,
Rice Mill Plant Moterised rice mill plants etc. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 74420 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rohit Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9814030800 |
|
Date : |
27.02.2012 |
LOCATIONS
|
Registered Office/Factory/Head Office : |
Industrial Development Colony Area,
Ferozpur City, Ferozpur – 152002, Punjab, India |
|
Tel. No.: |
91-1632-220467 |
|
Mobile No.: |
91-9814056566 (Mr. Ravikant Gupta) |
|
Fax No.: |
91-1632-220567 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 11.07.2011
|
Name : |
Mr. Ravi Kant Gupta |
|
Designation : |
Managing Director |
|
Address : |
Housing Board Colony, Ferozpur – 152002, Punjab, India |
|
Date of Appointment : |
13.07.1995 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17219PB1995PLC016774 |
DEV RAJ HI TECH MACHINES
LIMITED |
Managing director |
13/07/1995 |
13/07/1995 |
- |
Active |
NO |
|
2 |
U74999PB2004PTC027179 |
ORANGE FURNISHERS (INDIA)
PRIVATE LIMITED |
Managing director |
02/06/2004 |
02/06/2004 |
- |
Active |
NO |
|
3 |
U51101WB2008PTC128962 |
PANCHWATI VINIMAY PRIVATE
LIMITED |
Director |
19/01/2010 |
19/01/2010 |
- |
Active |
NO |
|
Name : |
Mr. Ram Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Housing Board Colony, Ferozpur – 152002, Punjab, India |
|
Date of Appointment : |
13.07.1995 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17219PB1995PLC016774 |
DEV RAJ HI TECH MACHINES
LIMITED |
Director |
13/07/1995 |
13/07/1995 |
- |
Active |
NO |
|
Name : |
Mrs. Asha Rani |
|
Designation : |
Director |
|
Address : |
Housing Board Colony, Ferozpur – 152002, Punjab, India |
|
Date of Appointment : |
13.07.1995 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17219PB1995PLC016774 |
DEV RAJ HI TECH MACHINES LIMITED
|
Director |
13/07/1995 |
13/07/1995 |
- |
Active |
NO |
|
Name : |
Mr. Rohit Gupta |
|
Designation : |
Director |
|
Address : |
Housing Board Colony, Ferozpur – 152002, Punjab, India |
|
Date of Appointment : |
01.06.1997 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17219PB1995PLC016774 |
DEV RAJ HI TECH MACHINES
LIMITED |
Director |
01/06/1997 |
01/06/1997 |
- |
Active |
NO |
|
2 |
U51101WB2008PTC128962 |
PANCHWATI VINIMAY PRIVATE
LIMITED |
Director |
19/01/2010 |
19/01/2010 |
- |
Active |
NO |
|
Name : |
Ms. Anuradha Gupta |
|
Designation : |
Director |
|
Address : |
Housing Board Colony, Ferozpur – 152002, Punjab, India |
|
Date of Appointment : |
31.03.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17219PB1995PLC016774 |
DEV RAJ HI TECH MACHINES
LIMITED |
Director |
31/03/2006 |
31/03/2006 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
EQUITY SHARE
HOLDER AS ON AS ON 11.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ravi Kant Gupta |
|
332 |
|
Ram Kumar Gupta |
|
151 |
|
Kaushlya Devi |
|
151 |
|
Anuradha Gupta |
|
61 |
|
Asha Rani |
|
104 |
|
Rohit Gupta |
|
201 |
|
Total |
|
1000 |
7% NON-CUMULATIVE
PREFERENCE SHARE HOLDER AS ON AS ON
11.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ram Kumar Gupta |
|
227500 |
|
Rohit Gupta |
|
250000 |
|
Kaushlya Devi |
|
40000 |
|
Anuradha Gupta |
|
90000 |
|
Asha Rani |
|
80000 |
|
Ravi Kant Gupta |
|
170000 |
|
Total |
|
857500 |
AS ON AS ON 11.07.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rice Machinery, Paddy Cleaners,
Parboiling, Rice Dryers, Rice Whiteners, Rice Silky, Polishers, Floor Mills, Rice
Mill Plant Moterised rice mill plants etc. |
|
|
|
|
Exports : |
|
|
Products : |
Rice Machinery, Paddy Cleaners, Parboiling, Rice Dryers, Rice
Whiteners, Rice Silky, Polishers, Floor Mills, Rice Mill Plant Moterised rice
mill plants etc. |
|
Countries : |
·
Africa ·
Brazil ·
America |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
Germany ·
Japan |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, Ferozepur City, Ferozepur
City - 152001, Punjab, India ·
State Bank of Patiala, Ferozpur City, Ferozpur,
Punjab, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lal And Associates Chartered Accountant |
|
Address : |
Railway Road, Moga - 142001, Punjab, Inida |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1400 |
Equity Shares |
Rs.1000/- each |
Rs.1.400 Millions |
|
860000 |
Preference Shares |
Rs.10/- each |
Rs.8.600 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.1000/- each |
Rs.1.400 Millions |
|
857500 |
Preference Shares |
Rs.10/- each |
Rs.8.575 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 |
9.575 |
9.575 |
9.575 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.030 |
10.428 |
2.513 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.605 |
20.003 |
12.088 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.353 |
25.136 |
7.864 |
|
|
2] Unsecured Loans |
19.609 |
13.614 |
7.278 |
|
|
TOTAL BORROWING |
46.962 |
38.750 |
15.142 |
|
|
DEFERRED TAX LIABILITIES |
1.445 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
67.012 |
58.753 |
27.230 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.488 |
27.505 |
15.907 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.749 |
0.749 |
0.749 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
45.832
|
24.933 |
19.336 |
|
|
Sundry Debtors |
7.455
|
8.922 |
3.121 |
|
|
Cash & Bank Balances |
0.818
|
0.924 |
0.513 |
|
|
Other Current Assets |
2.033
|
2.033 |
0.004 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
56.138
|
36.812 |
22.974 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.732
|
5.077 |
11.497 |
|
|
Other Current Liabilities |
0.631
|
1.236 |
0.907 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
13.363
|
6.313 |
12.404 |
|
|
Net Current Assets |
42.775
|
30.499 |
10.570 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
67.012 |
58.753 |
27.230 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131.442 |
175.848 |
162.952 |
|
|
|
Other Income |
0.750 |
12.748 |
0.084 |
|
|
|
TOTAL (A) |
132.192 |
188.596 |
163.036 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
1.703 |
2.516 |
2.423 |
|
|
|
Other Expenses |
121.573 |
169.522 |
156.443 |
|
|
|
TOTAL (B) |
123.275 |
172.038 |
158.866 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.917 |
16.558 |
4.170 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.191 |
3.034 |
1.657 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.726 |
13.524 |
2.513 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.587 |
3.653 |
2.191 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.139 |
9.871 |
0.322 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
1.956 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.139 |
7.915 |
0.322 |
|
Expected Sales (2011-2012) : Rs.180.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.11
|
4.19 |
0.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11
|
5.61 |
0.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.17
|
12.31 |
0.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.49 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.24
|
2.25 |
2.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate identity number of the company |
U17219PB1995PLC016774 |
|
Name of the company |
DEV RAJ HI TECH MACHINES LIMITED |
|
Address of the registered office or of the
principal place of business in |
Industrial Areaferozepur City, Punjab,
India |
|
This form is for |
Modification of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
PUNJAB NATIONAL BANK |
|
Nature of instrument creating charge |
Enhancement Agreement of
Loan-Cum-Hypothecation of Goods and Assets Dt. 5.10.2009 Of Rs.25.000
Millions From Rs.15.000 Millions |
|
Date of instrument Creating the charge |
05/10/2009 |
|
Amount secured by the charge |
Rs.25.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 12 % Terms of Repayment Payment On Demand Margin 25 % Extent and Operation of the charge Operation 100 % |
|
Short particulars of the property charged |
Hypothecation Of Stock Of Raw Material,
Finished Goods, Stock Of Work In Progress Etc. |
|
Date of instrument modifying the charge |
27/03/2008 |
|
Particulars of the present modification |
Hypothecation Limit Enhanced From
Rs.15.000 Millions From Rs.25.000 Millions |
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.50.31 |
|
|
1 |
Rs.70.04 |
|
Euro |
1 |
Rs.65.82 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.