1. Summary Information
|
|
|
Country |
|
|
Company Name |
INTERDRIL ASIA
LIMITED |
Principal Name 1 |
Mr. Dean Brakel Gesterkamp |
|
Status |
Good |
Principal Name 2 |
Mr. Anil N. Wahal |
|
|
|
Registration # |
55-55900 |
|
Street Address |
R 13 and 4, LGF, Ansal Chambers II, 6 Bhikhajikama Place, New
Delhi-110066 |
||
|
Established Date |
02.11.1993 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
Repairers |
|
Homepage |
www.interdrilasia.com |
Product Name 1 |
Dril Collars |
|
# of employees |
78
(Approximately) |
Product Name 2 |
Heavy Weight Dril Pipe |
|
Paid up capital |
Rs.
72,525,100/- |
Product Name 3 |
Rotary Kellys |
|
Shareholders |
Foreign holdings 47.51% Bodies Corporate
– 7.44% Directors and
relatives of directors – 45.05% |
Banking |
Oriental
Bank of Commerce |
|
Public Limited Corp. |
No |
Business Period |
19 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.06.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
639,214,000 |
Current Liabilities |
230,877,000 |
|
Inventories |
352,327,000 |
Long-term Liabilities |
668,454,000 |
|
Fixed Assets |
466,605,000 |
Other Liabilities |
109,000 |
|
Deferred Assets |
3,553,000 |
Total Liabilities |
899,440,000 |
|
Invest& other Assets |
8,900,000 |
Retained Earnings |
498,634,000 |
|
|
|
Net Worth |
571,159,000 |
|
Total Assets |
1,470,599,000 |
Total Liab. & Equity |
1,470,599,000 |
|
Total Assets (Previous Year) |
1,381,032,000 |
|
|
|
P/L Statement as of |
30.06.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
455,207,000 |
Net Profit |
11,882,000 |
|
Sales(Previous yr) |
893,340,000 |
Net Profit(Prev.yr) |
65,735,000 |
|
Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTERDRIL ASIA LIMITED |
|
|
|
|
Formerly Known
As : |
SKM-INTERDRIL ( |
|
|
|
|
Registered
Office : |
R 13 and 4, LGF, Ansal Chambers II, 6 Bhikhajikama Place, New
Delhi-110066 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
30.06.2010 |
|
|
|
|
Date of
Incorporation : |
02.11.1993 |
|
|
|
|
Com. Reg. No.: |
55-55900 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.525 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PLC055900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI02314E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Repairers of Down Hole Drilling Tools. |
|
|
|
|
No. of Employees
: |
78 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears
some dip in the turnover and profitability of the company. However, financial
position of the company appears to be good. 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 a 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) |
|
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 : |
R 13 and 4, LGF, Ansal Chambers II, 6 Bhikhajikama Place, New
Delhi-110066 |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Interdril House, 106, |
|
Tel. No.: |
91-22-66921666/66949956/57/58 |
|
Fax No.: |
91-22-66782452 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
95-A, Anand Lok, Khel Gaon Marg, |
|
Tel. No.: |
91-11-621 7382 / 7642 |
|
Fax No.: |
91-11-621 7382 |
|
|
|
|
Factory 2: |
Village Esamble, Taluka Khalapur, Patalganga, District
Raigad, |
|
Tel. No.: |
91-2192-326757 |
DIRECTORS
AS ON 27.12.2010
|
Name : |
Mr. Dean Brakel Gesterkamp |
|
Designation : |
Chairman |
|
Address : |
1261, B K Barlicum, Netherland |
|
Date of Birth/Age : |
08.01.1950 |
|
Date of Appointment : |
02.11.1993 |
|
DIN No.: |
01508882 |
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 |
U74899DL1993PLC055900 |
INTERDRIL
ASIA LIMITED |
Director |
02-11-93 |
02-11-93 |
- |
Active |
NO |
|
2 |
U40101HP2007PTC030652 |
BRAKEL
KINNAUR POWER PRIVATE LIMITED |
Director |
13-09-07 |
13-09-07 |
24-01-08 |
Active |
NO |
|
3 |
U45202MH2008PTC181227 |
KELLYCON
PRIVATE LIMITED |
Director |
29-09-10 |
01-04-10 |
- |
Active |
NO |
|
4 |
U40100MH2004PTC146725 |
INTERDRIL
POWER PRIVATE LIMITED |
Director |
01-04-10 |
01-04-10 |
- |
Active |
NO |
|
Name : |
Mr. Anil N. Wahal |
|
Designation : |
Manaing Director |
|
Address : |
401, Raj |
|
Date of Birth/Age : |
26.06.1959 |
|
Date of Appointment : |
02.11.1993 |
|
DIN No.: |
00236035 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U45203MH1992PTC068204 |
OCEAN
BLUE OFFSHORE CONSTRUCTIONS PRIVATE LIMITED |
Director |
19-08-92 |
19-08-92 |
Active |
NO |
|
2 |
U74899DL1993PLC055900 |
INTERDRIL
ASIA LIMITED |
Director |
01-03-10 |
02-11-93 |
Active |
NO |
|
3 |
U40100MH2004PTC146725 |
INTERDRIL
POWER PRIVATE LIMITED |
Director |
01-04-10 |
03-06-04 |
Active |
NO |
|
4 |
U40101HP2007PTC030652 |
BRAKEL
KINNAUR POWER PRIVATE LIMITED |
Director |
09-03-07 |
09-03-07 |
Active |
NO |
|
5 |
U45202MH2008PTC181227 |
KELLYCON
PRIVATE LIMITED |
Director |
29-09-10 |
01-04-10 |
Active |
NO |
|
6 |
U29219MH2011PTC212731 |
INTERDRIL
PIPES AND TECHNOLOGIES PRIVATE LIMITED |
Director |
27-01-11 |
27-01-11 |
Active |
NO |
|
Name : |
Mr. Manish Wahal |
|
Designation : |
Managing Director |
|
Address : |
Flat No. A-503, Plot No.21, Building No.1, Sector-11, Kopar Khairane,
Navi Mumbai-400701, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1970 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
00236090 |
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 |
U20291MH2001PTC130707 |
INTERDRILL
REPAIRS AND SERVICES PRIVATE LIMITED |
Director |
02-02-01 |
02-02-01 |
- |
Active |
NO |
|
2 |
U40100MH2004PTC146725 |
INTERDRIL
POWER PRIVATE LIMITED |
Director |
03-06-04 |
03-06-04 |
- |
Active |
NO |
|
3 |
U40101HP2007PTC030652 |
BRAKEL
KINNAUR POWER PRIVATE LIMITED |
Director |
09-03-07 |
09-03-07 |
13-09-07 |
Active |
NO |
|
4 |
U40101HP2008PTC030852 |
INTER
HYDRO POWER PRIVATE LIMITED |
Director |
20-03-08 |
20-03-08 |
27-07-09 |
Active |
NO |
|
5 |
U45202MH2008PTC181227 |
KELLYCON
PRIVATE LIMITED |
Director |
29-09-09 |
01-09-09 |
- |
Active |
NO |
|
6 |
U74899DL1993PLC055900 |
INTERDRIL
ASIA LIMITED |
Managing
director |
01-03-10 |
01-03-10 |
- |
Active |
NO |
|
7 |
U29219MH2011PTC212731 |
INTERDRIL
PIPES AND TECHNOLOGIES PRIVATE LIMITED |
Director |
27-01-11 |
27-01-11 |
- |
Active |
NO |
|
Name : |
Mr. Mukesh LaxmanDas Kaura |
|
Designation : |
Director |
|
Address : |
500/C Gilhaze Apartments, Malad West, Mumbai – 400064, |
|
Date of Birth/Age : |
16.06.1953 |
|
Date of Appointment : |
17.01.1996 |
|
DIN No.: |
00219617 |
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 |
U74899DL1986PTC024196 |
PETROMAR
ENGINEERED SOLUTIONS PRIVATE LIMITED. |
Director |
13-05-86 |
13-05-86 |
- |
Active |
NO |
|
2 |
U51900MH1990PTC055745 |
OCEANIC
EXPORTS PRIVATE LIMITED |
Director |
04-01-92 |
04-01-92 |
- |
Active |
NO |
|
3 |
U74899DL1993PLC055900 |
INTERDRIL
ASIA LIMITED |
Director |
17-01-96 |
17-01-96 |
- |
Active |
NO |
|
Name : |
Mr. Indrajit Bhattacharyya |
|
Designation : |
Whole Time Director |
|
Address : |
RH 7, Sukh Niwas Co-Operative Houing Society, Plot No.62, Vashi, Navi
Mumbai-400703, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1966 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
00236141 |
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 |
U20291MH2001PTC130707 |
INTERDRILL
REPAIRS AND SERVICES PRIVATE LIMITED |
Director |
02-02-01 |
02-02-01 |
- |
Active |
NO |
|
2 |
U40101HP2008PTC030852 |
INTER
HYDRO POWER PRIVATE LIMITED |
Director |
20-03-08 |
20-03-08 |
27-07-09 |
Active |
NO |
|
3 |
U40100MH2004PTC146725 |
INTERDRIL
POWER PRIVATE LIMITED |
Director |
29-09-09 |
01-06-09 |
- |
Active |
NO |
|
4 |
U45202MH2008PTC181227 |
KELLYCON
PRIVATE LIMITED |
Director |
29-09-09 |
01-09-09 |
- |
Active |
NO |
|
5 |
U74899DL1993PLC055900 |
INTERDRIL
ASIA LIMITED |
Whole-time
director |
01-03-10 |
01-03-10 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Krishnakishore Balkrishna Gavaskar |
|
Designation : |
Secretary |
|
Address : |
27/4, Sitala Devi Building, L. J Road, Mahim, Mumbai-400016, Maharashtra,
India |
|
Date of Birth/Age : |
29.07.1954 |
|
Date of Appointment : |
01.03.2010 |
|
Pan No.: |
AACPG1637M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.12.2010
|
Names of Shareholders |
No. of Shares |
|
Dean Brakel Gesterkamp |
3446196 |
|
Anil N. Wahal |
2608475 |
|
Paul Douglas Waters |
119 |
|
Dynasty Industries Limited, India |
360000 |
|
Manish N. Wahal |
617540 |
|
Mukesh Kaura |
50 |
|
Ocean Blue Offshore Constructions Private
Limited, India |
180130 |
|
Anil Wahal HUF |
40000 |
|
Total |
7252510 |
AS ON 27.12.2010
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
47.51 |
|
Bodies corporate |
7.44 |
|
Directors or relatives of Directors |
45.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Repairers of Down Hole Drilling Tools. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
“INTERDRIL”. |
PRODUCTION STATUS (AS ON 30.06.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Heavy Weights |
Nos. |
1830 |
1830 |
|
Drill Collars |
Nos. |
1665 |
1665 |
|
Stabilizer Sleeves |
Nos. |
435 |
435 |
|
Stabilizer Bodies |
Nos. |
189 |
189 |
|
Pup Joints |
Nos. |
189 |
189 |
|
Kelly’s |
Nos. |
189 |
189 |
|
Kelly Saver Subs |
Nos. |
129 |
129 |
|
stabilizers |
Nos. |
189 |
189 |
GENERAL INFORMATION
|
No. of Employees : |
78 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
International
Banking Department, Mumbai Main Branch, Mittal Court, C-Wing, 4th
Floor, Nariman Point, Mumbai – 400 021,
Western
Regional Office, Nariman Bhavan, 9th Floor, Nariman Point, Mumbai
– 400 021,
Santacruz
(West) Branch, Ajay Apartments, S. V. Road, Santacruz (West) Mumbai – 400054,
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KAPS and Company Chartered Accountant |
|
Address : |
1016, Arun Vihar, Sector 29, Noida, Uttar Pradesh, India |
|
Pan No.: |
AAJFK1459J |
CAPITAL STRUCTURE
AS ON 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7252510 |
Equity Shares |
Rs.10/- each |
Rs. 72.525
Millions |
|
|
|
|
|
Notes:
Out of the above shares 3110000 Equity Shares
of Rs. 10/- each have been allotted pursuant to a contract for consideration
other that in cash. The shares have been allotted against purchase of plant and
machinery in term of FIPB approval dated March 16, 1994.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
72.525 |
72.525 |
72.525 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
498.634 |
284.696 |
218.966 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
571.159 |
357.221 |
291.491 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
668.454 |
706.336 |
593.401 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
55.770 |
|
|
TOTAL BORROWING |
668.454 |
706.336 |
649.171 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1239.613 |
1063.557 |
940.662 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.605 |
274.810 |
244.419 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.900 |
8.899 |
8.800 |
|
|
DEFERREX TAX ASSETS |
3.553 |
5.257 |
7.171 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
352.327
|
373.913
|
364.821 |
|
|
Sundry Debtors |
325.758
|
514.030
|
406.749 |
|
|
Cash & Bank Balances |
39.463
|
12.596
|
27.553 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
273.993
|
191.527
|
174.013 |
|
Total
Current Assets |
991.541
|
1092.066 |
973.136 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
210.550
|
193.873
|
198.206 |
|
|
Other Current Liabilities |
20.327
|
123.602
|
94.658 |
|
|
Provisions |
0.109
|
0.000
|
0.000 |
|
Total
Current Liabilities |
230.986
|
317.475 |
292.864 |
|
|
Net Current Assets |
760.555
|
774.591
|
680.272 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1239.613 |
1063.557 |
940.662 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Product Sales |
455.207 |
889.088 |
1033.149 |
|
|
|
Trading Sales |
0.000 |
4.252 |
0.000 |
|
|
|
Other Income |
0.558 |
3.500 |
4.235 |
|
|
|
Exchange Difference |
7.759 |
49.957 |
20.532 |
|
|
|
Scrap Sales |
4.820 |
16.074 |
24.505 |
|
|
|
TOTAL (A) |
468.344 |
962.871 |
1082.421 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
242.375 |
617.408 |
726.806 |
|
|
|
Manufacturing & Other Expenses |
17.816 |
23.506 |
32.246 |
|
|
|
Payment & Provisions to Employees |
38.870 |
41.302 |
43.136 |
|
|
|
Administrative Expenses |
40.042 |
47.468 |
41.095 |
|
|
|
Selling Expenses |
18.094 |
40.490 |
55.257 |
|
|
|
Bad Debts Written Off |
0.000 |
0.394 |
6.983 |
|
|
|
Loss on |
0.000 |
0.000 |
0.113 |
|
|
|
TOTAL (B) |
357.197 |
770.568 |
905.636 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
111.147 |
192.303 |
176.785 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.132 |
87.944 |
56.740 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.015 |
104.359 |
120.045 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.304 |
13.455 |
11.358 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.711 |
90.904 |
108.687 |
|
|
|
|
|
|
|
|
|
Add |
Previous Years
Income/(Expenses) |
0.108 |
0.175 |
(3.305) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.937 |
25.344 |
11.320 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.882 |
65.735 |
94.062 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.882 |
65.735 |
94.062 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
435.090 |
852.891 |
990.769 |
|
|
TOTAL EARNINGS |
435.090 |
852.891 |
990.769 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
201.942 |
534.463 |
700.383 |
|
|
|
Stores & Spares |
12.615 |
13.973 |
14.018 |
|
|
|
Capital Goods |
0.000 |
0.000 |
6.221 |
|
|
TOTAL IMPORTS |
214.557 |
548.436 |
720.622 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.64 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
2.54
|
6.82
|
8.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.01
|
10.17
|
10.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.94
|
6.65
|
8.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.25
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
2.86
|
3.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.29
|
3.43
|
3.32 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
No |
|
10. Designation of contact person |
No |
|
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 |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
NOTE
Registered office has been shifted from B-57 Soami Nagar, New Delhi –
110017, India to the present address w.e.f.21.09.2011
FINAINCIAL
PERFORMANCE
The demand for the company’s products is directly related to the
drilling activity for oil and gas. On account of the global melt down, the
drilling activity worldwide had dropped substantially, which in turn resulted
in a sharp reduction in the demand for the company’s products. Added to this is
also the cyclical nature of the oil and gas industry, which contributed to the
drop in turnover. The general reduction in the activity level of the industry
also resulted in poor debtor’s realization. On the whole, this was a period of
trial for the company and has made them stronger to face the uncertainties of
the future.
OPERATIONS AND
BUSINES PERFORMANCE
Market conditions continue to be difficult with excess inventory of
their products, available to the actual users and therefore reduced demand.
However, the silver lining is that the international price of crude oil
has remained constant in a price band of US$ 75 to US$ 80 per barrel. This
augers well for their industry, which is slowly resulting in contracts for some
of the de-hired rigs. This increase in the rig count will augment demand for
their products and this can already be felt. However, they remain cautious and
vigilant as any dramatic and severe downturn of these prices would have a
negative effect on business levels.
They remain confident of taking advantage of the slow but steady rise in
the demand for the products of the company and are also confident of their wide
spread customer base and their ability to meet the additional capacity
requirement.
FORM 8
|
Corporate
identity number of the company |
U74899DL1993PLC055900 |
|
Name of the
company |
INTERDRIL ASIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
R 13 and 4, LGF, Ansal Chambers II, 6 Bhikhajikama Place, New
Delhi-110066 |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Oriental Bank of Commerce, Santacruz (West) Branch, Ajay Apartments, S. V. Road, Santacruz (West) Mumbai – 400054, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental
Agreement to Secure Credit / Loan Facilities |
|
Date of
instrument Creating the charge |
24.10.2011 |
|
Amount secured by
the charge |
Rs. 998.900
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest rate and
Penal interest rate as agreed between the borrower company and the bank from
time to time. Terms of repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and operation of the charge At the request of
the borrower company, the bank has revised overall banking limits up to Rs.
998.900 Millions against Hypothecation of stocks and receivables (inland / foreign)
foreign documentary demand and / or usance bills accompanied with airway
bills / bills of lading drawn under irrevocable L/C confirmed order.
Documents of title to goods and 1st charge over fixed assets, Plant and
machineries, furniture, fixtures, other assets. The total charge
stands modified up to Rs. 998.900 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
stocks and receivables (inland / foreign) foreign documentary demand and / or
usance bills accompanied with airway bills / bills of lading drawn under
irrevocable L/C confirmed order. Documents of
title to goods and 1st charge over fixed assets, Plant and machineries,
furniture and fixtures present and future and other assets |
|
Charge
identification number of the charge to be modified |
90050496 |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has revised overall banking limits up to Rs. 998.900
Millions against Hypothecation of stocks and receivables (inland / foreign)
foreign documentary demand and / or usance bills accompanied with airway
bills / bills of lading drawn under irrevocable L/C confirmed order.
Documents of title to goods and 1st charge over fixed assets, Plant and
machineries, furniture, fixtures, other assets. The total charge
stands modified up to Rs. 998.900 Millions |
FIXED ASSETS
WEBSITE DETAILS
PROFILE
Subject was incorporated in November 1993 as a 100% EOU. Plant is
located at Patalganga which is 2 hours drive from Indian Financial Capital,
Mumbai. They are manufacturing down hole drilling tools used in drilling for
Oil and Gas.
Subject is a manufacturer of premium Down Hole Drilling tools. Subject offers a
full range of new Drill Collars, Heavy Weight Drill Pipes, Kellys, Drill Stem
Subs licensed under API Spec 7-1. In addition to above Subject is manufacturer
of Spiral Heavy Weight Drill Pipes, Stabilizers, Sleeves, Pup Joints etc.
Subject is licensed threader for API Spec. 5 CT Casing and Tubing connections.
Subject They are exporting 90% of our production to various drilling
contractors, service company, supply houses and rental companies based in
Middle East, Far East, Europe, Africa and USA. Apart from this we are serving
our National Oil Companies like Oil and Natural Gas Corporation, Oil India,
GSPC and Private Oil Companies like Reliance, BG, Cairn Energy, Niko Resources.
Complete manufacturing activities are carried out under one roof.
Apart from API 7-1, 5CT and ISO 9001 Certification, they have Premium
Connections licenses like VAM, JFE-FOX, NSCC/NSCT, Hunting Seal Lock,
DSTJ-Tenaris, etc.
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. 55.93 |
|
|
1 |
Rs. 88.14 |
|
Euro |
1 |
Rs. 70.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
|
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
6 |
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.