|
Report Date : |
21.03.2012 |
|
|
|
|
Tel. No.: |
9011048301 |
IDENTIFICATION DETAILS
|
Name : |
DEHU ENGINEERING (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 390, Talawade Dehugaon Road, Pune – 412114, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.06.2007 |
|
|
|
|
Com. Reg. No.: |
130254 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.903 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2007PTC130254 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Boilers, Power Plant Equipments etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 55024 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings at usual trade
terms an 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Gat No. 390, |
|
Tel. No.: |
91-20-64102689 |
|
Fax No.: |
91-20-27692131 |
|
E-Mail : |
|
|
Area : |
35000sq.ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Row House No. 6, Plot No. 51, Sec No. 6, Pragati Park Rajeshivaji
Nagar, Pradhikaran, Chinchwad, Pune – 411 019, Maharashtra, India. |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kasiraj Ganapathy |
|
Designation : |
Director |
|
Address : |
Row House No. 6, Plot No. 51, Sec No. 6, Pragati Park Rajeshivaji
Nagar, Pradhikaran, Chinchwad, Pune – 411 019, Maharashtra, India. |
|
Date of Birth/Age : |
07.06.1973 |
|
Date of Appointment : |
04.06.2007 |
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 |
U29299PN2007PTC130254 |
Dehu Engineering (India)
Private Limited |
Managing director |
01/04/2009 |
04/06/2007 |
- |
Active |
NO |
|
2 |
U29299PN2010PTC135601 |
Konzept Energy Engineering
Private Limited |
Director |
17/02/2010 |
17/02/2010 |
- |
Active |
NO |
|
3 |
U74900PN2010PTC137823 |
CONCORD DRILLING
INDUSTRIES (INDIA) PRIVATE LIMITED |
Director |
24/11/2010 |
24/11/2010 |
- |
Active |
NO |
|
4 |
U29220PN2011PTC138296 |
MASTERMIND ENGINEERING
PRODUCTS PRIVATE LIMITED |
Director |
18/01/2011 |
18/01/2011 |
- |
Active |
NO |
|
5 |
U29190PN2011PTC138363 |
DEXTEROUS MACHINES PRIVATE
LIMITED |
Director |
24/01/2011 |
24/01/2011 |
- |
Active |
NO |
|
6 |
U74900PN2011PTC138380 |
DEHU HANDLING SYSTEMS
PRIVATE LIMITED |
Nominee director |
25/01/2011 |
25/01/2011 |
- |
Active |
NO |
|
7 |
U74900PN2011PTC138491 |
DEHU BOILERS PRIVATE
LIMITED |
Director |
04/02/2011 |
04/02/2011 |
- |
Active |
NO |
|
Name : |
Mrs. Balasubrmanian Suvarna |
|
Designation : |
Director |
|
Address : |
Flat No. 5, Building No. A, Devi Indrayani HSG. Soc., Talawade, Pune –
411044, |
|
Date of Birth/Age : |
24.03.1979 |
|
Date of Appointment : |
04.06.2007 |
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 |
U29299PN2007PTC130254 |
Dehu Engineering (India)
Private Limited |
Director |
04/06/2007 |
04/06/2007 |
28/01/2011 |
Active |
NO |
|
Name : |
Mr. Balasubramanian Ganapathy |
|
Designation : |
Additional Director |
|
Address : |
Row House No. 6, Plot No. 51, Sec No. 6, Pragati Park Rajeshivaji
Nagar, Pradhikaran, Chinchwad, Pune – 411 019, Maharashtra, India. |
|
Date of Birth/Age : |
18.06.1978 |
|
Date of Appointment : |
02.08.2008 |
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 |
U29299PN2006PTC021948 |
SANKALP FORGINGS PRIVATE
LIMITED |
Whole-time director |
02/02/2006 |
02/02/2006 |
- |
Active |
NO |
|
2 |
U29299PN2007PTC130254 |
Dehu Engineering (India)
Private Limited |
Director |
30/09/2009 |
02/08/2008 |
- |
Active |
NO |
|
3 |
U74900PN2010PTC137823 |
CONCORD DRILLING
INDUSTRIES (INDIA) PRIVATE LIMITED |
Managing director |
24/11/2010 |
24/11/2010 |
- |
Active |
NO |
|
Name : |
Mr. Bhaskar K. Gawade |
|
Designation : |
Additional Director |
|
Address : |
Pl Lc/1, Flat No. 2, Sector No.18, Pcntda Shivajinagar, Pune – 411019,
|
|
Date of Birth/Age : |
01.06.1961 |
|
Date of Appointment : |
02.08.2008 |
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 |
U29299PN2006PTC021948 |
SANKALP FORGINGS PRIVATE
LIMITED |
Whole-time director |
01/04/2009 |
02/02/2006 |
- |
Active |
NO |
|
2 |
U29299PN2007PTC130254 |
Dehu Engineering (India)
Private Limited |
Director |
30/09/2009 |
02/08/2008 |
- |
Active |
NO |
|
3 |
U74900PN2010PTC137823 |
CONCORD DRILLING
INDUSTRIES (INDIA) PRIVATE LIMITED |
Director |
24/11/2010 |
24/11/2010 |
- |
Active |
NO |
|
Name : |
Ms. Asha B. Gawade |
|
Designation : |
Additional Director |
|
Address : |
S.NO. 18, |
|
Date of Birth/Age : |
13.12.1970 |
|
Date of Appointment : |
02.08.2008 |
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 |
U29299PN2007PTC130254 |
Dehu Engineering (India)
Private Limited |
Director |
30/09/2009 |
02/08/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Kasiraj Ganapathy |
|
360334 |
|
Mrs. Balasubrmanian Ganapathy |
|
360333 |
|
Mrs. Asha B. Gawade |
|
360333 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Boilers, Power Plant Equipments etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Electronica Finance Limited, 128/A, Plot No.3, Kailashchandra Appartments, Paud Road, Kothrud, Pune - 411038, Maharashtra, India ·
SBI Global Factors Limited, 6th
Floor, Metropolitan Building, Bandra-Kurla, Complex, Bandra(East), Mumbai -
400051, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
AMB and Company Chartered Accountant |
|
Address : |
308,The Pentagon, Near Hotel Panchami, Next To Bsnl,Off Satara Road,
Pune – 411009, Maharashtra, India |
|
|
|
|
Subsidiaries : |
Konzept Energy Engineering Private Limited CIN NO.: U29299PN2010PTC135601 Concord Drilling Industries (India) Private Limited CIN NO.: U74900PN2010PTC137823 |
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 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
486000 |
Equity Shares (out of the above 162000 shares were issued at Premium of
Rs 6.another 162000 share were issued at premium of Rs 9 and the balance
162000 shares were issued at face value) |
Rs.10/- each |
Rs.4.860 Millions |
|
|
|
|
|
Share Application
money Received yet to be Allotted
|
|
Type |
|
Amount |
|
|
Asha Gawade |
|
Rs.2.950
Millions |
|
|
Kasiraj Ganapathy |
|
Rs.2.575
Millions |
|
|
Balasumbramanian Ganapathy |
|
Rs.2.417 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 |
12.903 |
6.903 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.455 |
5.421 |
0.827 |
|
|
4] (Accumulated Losses) |
(1.602) |
0.000 |
0.000 |
|
|
NETWORTH |
13.756 |
12.324 |
0.927 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
54.277 |
15.641 |
13.927 |
|
|
2] Unsecured Loans |
3.337 |
2.549 |
7.435 |
|
|
TOTAL BORROWING |
57.614 |
18.190 |
21.362 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.147 |
|
|
|
|
|
|
|
|
TOTAL |
71.370 |
30.514 |
22.436 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.163 |
13.239 |
10.393 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.417 |
0.026 |
0.026 |
|
|
DEFERREX TAX ASSETS |
0.558 |
(0.269) |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
75.050
|
29.602 |
11.606 |
|
|
Sundry Debtors |
22.949
|
13.158 |
16.179 |
|
|
Cash & Bank Balances |
1.741
|
0.983 |
0.423 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.595
|
1.992 |
0.789 |
|
Total
Current Assets |
106.335
|
45.735 |
28.997 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
49.156
|
24.006 |
12.435 |
|
|
Other Current Liabilities |
8.971
|
3.115 |
4.519 |
|
|
Provisions |
1.072
|
1.207 |
0.155 |
|
Total
Current Liabilities |
59.199
|
28.328 |
17.109 |
|
|
Net Current Assets |
47.136
|
17.407 |
11.888 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.096 |
0.111 |
0.129 |
|
|
|
|
|
|
|
|
TOTAL |
71.370 |
30.514 |
22.436 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
146.285 |
64.280 |
90.911 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.396 |
3.116 |
0.874 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.794 |
0.150 |
0.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.602 |
2.966 |
0.576 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
1.09
|
4.61 |
0.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.26
|
5.28 |
2.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.25 |
0.94 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.49
|
3.77 |
41.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
1.61 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company
has been shifted from Row House No. 6, Plot No.51, Sec No.16, Pragati, Park
Rajeshivaji Nagar, Pradhikaran, Chinchwad, Pune – 411019, Maharashtra, India
to present office w.e.f. 26.07.2008
PERFORNNNCE AND PROSPECTS:
The Companies
engaged in carrying out manufacturing/fabricating of assemblies/parts related
to boiler and power plant for energy sector. The Company has established all
the facilities of its own with the help of finance from Saraswat co-operative Bank
Limited and from SBI Global Factors Limited and unsecure loans from Directors. In
order to match the capital employed and borrowings the authorised capital was
increased to Rs. 30.000 Millions and paid-up capital was increased to
Rs.1081.000 Millions during the year.
The revenue depend upon
the developments engineering Industry. Though there is increase in turnover, it
was not compensated e to increase in material cost, administrative and direct expense.
Directors are taking efforts to reduce the expenses in order to improve the
profitability in the future years.
SUBSIDIARY:
In order to expand the
market avenues in energy, gas, oil sector, gas drilling, and to serve the
customers more effectively the company floated one subsidiary last year Konzept
Energy Engineering Private Limited incorporated and floated one more subsidiary
Concord drilling Industries India Private Limited in the year on 24th
November, 2010 with an object to manufacture, trade and service the machinery,
equipments, parts. The statement of disclosures u/s 212 of the companies act,
1956, in respect of subsidiary is enclosed.
FORM 8:
|
Corporate identity number of the company |
U29299PN2007PTC130254 |
|
Name of the company |
Dehu Engineering (India) Private Limited |
|
Address of the registered office or of the
principal place of business in |
Gat No. 390, Talawade-Dehugaon Road, Talawade, Dehu 412114, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
Electronica Finance Limited |
|
Nature of instrument creating charge |
Hypothecation agreement dated 28th
February, 2011 |
|
Date of instrument Creating the charge |
28/02/2011 |
|
Amount secured by the charge |
Rs.0.926 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 14.09% Per Annum Terms of Repayment 48 monthly installment Extent and Operation of the charge First Charge |
|
Short particulars of the property charged |
Cumminse make D.G.SET-200 KVA-1Nos lying
at GAT No. 390, Dehu -Alandi Road, Talwade Pune 412114. |
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.50.25 |
|
|
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.66.52 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.