MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DEMPO INDUSTRIES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Dempo House, DB Bandodkar Road, Campal, Panaji-403001, Goa |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
15.12.1987 |
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Com. Reg. No.: |
24-000787 |
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Capital Investment
/ Paid-up Capital : |
Rs.200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15541GA1987PTC000787 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRD02767C |
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|
PAN No.: [Permanent Account No.] |
AAACU1705F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Publication of Newspapers. Generation of Wind Energy. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2700000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Latest
financials are not available. As per previous year financials there seems a dip
in the profitability of the company. However, trade relations are reported as
fair. Business is active. In absence of latest financial payment term are
unknown. 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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mrs. Sharmila Prabhu |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-832-6651112 |
|
Date : |
19.04.2013 |
LOCATIONS
|
Registered Office : |
Dempo House, DB Bandodkar Road, Campal, Panaji-403001, Goa, India |
|
Tel. No.: |
91-832-2224556/2441314/2441300 |
|
Fax No.: |
91-832-2228588/2225098 |
|
E-Mail : |
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|
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Head Office : |
Navhind Papers and Publications, Navhind Bhavan, Rusa Ismail Gracias,
Panaji-403001, Goa, India |
|
Tel No.: |
91-832-6651112 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Shrinivas Vasudeva Dempo |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Dempo Villa, Altinho, Panaji-403001, Goa, India |
|
Date of Birth/Age : |
02.02.1969 |
|
Date of Appointment : |
28.12.1999 |
|
Din No.: |
00043413 |
|
|
|
|
Name : |
Mrs. Pallavi Shrinivas Dempo |
|
Designation : |
Whole Time Director |
|
Address : |
Dempo Villa, Altinho, Panaji-403001, Goa, India |
|
Date of Birth/Age : |
15.02.1975 |
|
Date of Appointment : |
27.12.2005 |
|
Din No.: |
00003489 |
|
|
|
|
Name : |
Mr. Balasubramanian Ganapathy |
|
Designation : |
Director |
|
Address : |
105, Mathura Nandanvan Complex, Caranzalem, Panaji, Goa, India |
|
Date of Birth/Age : |
29.10.1954 |
|
Date of Appointment : |
25.06.2005 |
|
Din No.: |
00020756 |
|
|
|
|
Name : |
Mr. Sudin Manohar Usgaokar |
|
Designation : |
Director |
|
Address : |
XB-2, Sakhardande Apartment, Dr. Dada Vaidya Road, Panaji-403001, Goa,
India |
|
Date of Birth/Age : |
25.11.1958 |
|
Date of Appointment : |
25.06.2005 |
|
Din No.: |
00326964 |
KEY EXECUTIVES
|
Name : |
Ms. Beena Mahambrey |
|
Designation : |
Secretary |
|
Address : |
5/B, F4, Model, Millenniums, Vistas, Caranzalem-403002, Goa, India |
|
Date of Birth/Age : |
12.05.1979 |
|
Date of Appointment : |
30.06.2009 |
|
Pan No.: |
AOQPM2346P |
|
|
|
|
Name : |
Mrs. Sharmila Prabhu |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Equity Shares |
No. of
Preferences Shares |
|
Shrinivas Vasudeva Dempo |
1 |
-- |
|
Soiru V. Dempo |
1 |
-- |
|
V.S. Dempo Holdings Private Limited, India |
49999998 |
5000000 |
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|
|
|
|
TOTAL
|
50000000 |
5000000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publication of Newspapers. Generation of Wind Energy. |
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Newspaper Division |
(Copies/hr) |
30000 |
20214610 |
|
Energy Division |
(KWH/hr) |
800 |
1116660 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
Bank of India, Compal, Panaji, Goa, India |
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|
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Facilities : |
-- |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
R. Sundararaman and Company Chartered Accountants |
|
Address : |
30/2, Indira Colony, Ashok Nagar, Chennai, Tamilnadu, India |
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Tel. No.: |
91-44-24749101/24749069 |
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Fax No.: |
91-44-43054239 |
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E-Mail : |
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PAN No: |
AAHFR5192F |
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|
|
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Holding Company : |
V. S. Dempo Holdings Private Limited (Formerly Esmeralda Investments
Private Limited) [U65993GA1984PTC000570] |
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Fellow Subsidiaries : |
·
Marmagoa Shipping and Stevedoring Company Private
Limited [U61100GA1963PTC000003] ·
Dempo Shipbuilding and Engineering Private
Limited [U74210GA1963PTC000009] ·
Dempo Travels Private Limited
[U63040GA1983PTC000552] ·
Aparant Iron and Steel Private Limited [U27103GA1998PTC002568] ·
Hindustan Foods Limited [L15139GA1984PLC000601] |
|
|
|
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Wholly Owned Subsidiaries : |
·
Dempo Global Corporation Pte. Limited ·
Pt. Dempo Global Resources |
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Associates : |
Goa Carbon Limited |
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Joint Ventures/Partnership
Firms : |
Audio Visual Media |
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|
|
|
Other Related
Parties : |
·
Devashri Real Estate Developers ·
Motown Investments Private Limited
[U65993GA1992PTC001207] ·
Ratnaprabha Advisory Services LLP ·
Jaiprabha Advisory Services LLP |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
5000000 |
Preference Shares |
Rs.100/- each |
Rs.500.000 Millions |
|
|
TOTAL
|
|
Rs.1000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
5000000 |
Preference Shares |
Rs.100/- each |
Rs.500.000 Millions |
|
|
TOTAL
|
|
Rs.1000.000
Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20500000 |
Equity Shares |
Rs.10/- each |
Rs.205.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 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 |
200.000 |
155.000 |
56.500 |
|
|
2] Share Application Money |
0.000 |
45.000 |
0.000 |
|
|
3] Reserves & Surplus |
476.011 |
460.032 |
395.202 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
676.011 |
660.032 |
451.702 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
80.000 |
0.000 |
25.000 |
|
|
TOTAL BORROWING |
80.000 |
0.000 |
25.000 |
|
|
DEFERRED TAX LIABILITIES |
22.186 |
23.920 |
20.638 |
|
|
|
|
|
|
|
|
TOTAL |
778.197 |
683.952 |
497.340 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
225.825 |
242.167 |
205.849 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
445.767 |
358.199 |
158.755 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.195
|
4.198 |
3.310 |
|
|
Sundry Debtors |
84.625
|
82.076 |
71.956 |
|
|
Cash & Bank Balances |
8.687
|
4.736 |
41.112 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.030
|
18.885 |
38.612 |
|
Total
Current Assets |
131.537
|
109.895 |
154.990 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.023
|
11.329 |
|
|
|
Other Current Liabilities |
12.909
|
12.669 |
20.273 |
|
|
Provisions |
0.000
|
2.311 |
1.981 |
|
Total
Current Liabilities |
24.932
|
26.309 |
22.254 |
|
|
Net Current Assets |
106.605
|
83.586 |
132.736 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
778.197 |
683.952 |
497.340 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
277.575 |
275.220 |
243.768 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
198.855 |
190.233 |
159.086 |
|
|
|
TOTAL (B) |
198.855 |
190.233 |
159.086 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
78.720 |
84.987 |
84.682 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.202 |
0.342 |
0.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
78.518 |
84.645 |
84.274 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.234 |
22.806 |
6.825 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
57.284 |
61.839 |
77.449 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.305 |
(2.991) |
30.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
15.979 |
64.830 |
47.410 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
16.511 |
7.989 |
NA |
|
|
|
Capital Goods |
0.000 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
16.511 |
7.989 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
0.80 |
4.18 |
-- |
|
|
|
Diluted |
0.083 |
11.39 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.75
|
23.55 |
19.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.90
|
1756 |
21.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.12
|
0.00 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.27
|
4.17 |
6.96 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
31.03.2009 [Rs. in millions] |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
1.055 |
0.185 |
|
|
Creditors due others |
10.968 |
11.144 |
|
|
TOTAL
|
12.023 |
11.329 |
NA |
|
Sr. No. |
Check List by Info
Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions 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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loan |
As
on 31.03.2011 [Rs.
in Millions] |
As
on 31.03.2010 [Rs.
in Millions] |
|
Other Debts Unsecured |
80.000 [A] |
0.000 |
|
TOTAL
|
80.000 |
0.000 |
|
NOTE: (A) From Holding Company |
||
BUSINESS PERFORMANCE AND OUTLOOK:
NEWSPAPER DIVISION:
Continuing its
stride in increasing circulation of its daily the Navhind Times, the Company circulated
50217 copies as compared to 48191 copies per day in the immediately preceding
year. Revenue from advertisement income also touched an all time high with more
than 10% increase over the immediately preceding year.
WIND ENERGY DIVISION:
The Division
continued its energy generation as expected. The Company has provided for
diminution in value of investment in the Indonesian subsidiary to the tune of
Rs.19.000 Millions.
SUBSIDIARY COMPANIES:
Dempo Global
Corporation Pte. Limited, Singapore has acquired stakes in companies engaged in
iron ore mining, which are listed on the Australian Stock Exchange. There has
been no material change in the nature of business of the subsidiary.
The Company has taken a decision of liquidating Pt. Dempo Global Resources,
Indonesia, as the operations had become economically unviable.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.