MIRA INFORM REPORT

 

 

Report Date :

16.01.2013

 

IDENTIFICATION DETAILS

 

Name :

DOR TECH DOORS INDIA PRIVATE LIMITED

 

 

Registered Office :

A – 212, 2ND Floor, North Mall, Sector 9, Rohini, Delhi -110085, Delhi

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

02.07.2010

 

 

Com. Reg. No.:

55-205103

 

 

Capital Investment / Paid-up Capital :

Rs.1.990  Millions

 

 

CIN No.:

[Company Identification No.]

U36100DL201PTC205103

 

 

IEC No.:

0510042589

 

 

PAN No.:

[Permanent Account No.]

AADCD5019Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Trader of Door skin, wooden doors, UPVC doors, Decorative panel doors, wood kitchen shutters etc.

 

 

No. of Employees :

15 (Approximately) [In Office + In Factory]

 

 

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 8000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record. The management have failed to file its latest financial with the government department

 

As per previous year’s, the company performance capacity appears to be low.

 

However, trade relations are reported to be fair. Business is active. Payments 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.

 

 

ECGC Country Risk Classification List – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

 

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 PARTED BY

 

Name :

Mr. Javed

Designation :

Manager

Contact No.:

91-9654592014

Date :

12.01.2013

 

 

Name :

Mr. Ajit Singh

Designation :

Business Developer

Contact No.:

91-9654592011

Date :

14.01.2013

 

 

LOCATIONS

 

Registered Office  :

A – 212, 2ND Floor, North Mall, Sector 9, Rohini, Delhi -110085, Delhi, India

Tel. No.:

91-11-47320473/47320474

Mobile No.:

91-9654592014 (Mr. Javed) / 91-9811208591 (Mr. Vikas Garg)

Fax No.:

91-11-47320475

E-Mail :

SANJAYGARGASSOCIATES@GMAIL.COM

Website :

www.dortechdoors.net

Area :

1500 Sq. Ft.

Location :

Owned

 

 

Factory :

F-1769, DSIDC, Indl. Area, Narela, Delhi – 110083, Delhi, India

 

 

DIRECTORS

 

AS ON 30.09.2011

 

Name :

Mr. Vikas Garg

Designation :

Director

Address :

B-4/44-45, 1st Floor, Sector – 11, Rohini, New Delhi – 110085, Delhi, India

Date of Birth/Age :

10.12.1977

Date of Appointment :

02.07.2010

DIN No.:

02958766

Name :

Mr. Ramanand Sharma

Designation :

Director

Address :

Flat No.69, Nagin Lake Appartment, Paschimvihar, New Delhi – 110063, Delhi, India

Date of Birth/Age :

01.02.1970

Date of Appointment :

02.07.2010

DIN No.:

03101135

 

 

KEY EXECUTIVES

 

Name :

Mr. Javed

Designation :

Manager

 

 

Name :

Mr. Ajit Singh

Designation :

Business Developer

 

 

Name :

Mr. Satish Sharma

Designation :

Sales Director

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2011

 

Names of Shareholders

No. of Shares

VIKAS GARG

5000

ASHOK KUMAR

5000

KULDEEP MANN

5000

RAMANAND SHARMA

5000

TOTAL

20000

 

AS ON 30.09.2011

 

Equity Shares Break Up

Percentage of Holding

Directors or relatives of Directors

100.00

TOTAL

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of Door skin, wooden doors, UPVC doors, Decorative panel doors, wood kitchen shutters etc.

 

 

Products :
  • Door Skin
  • Wooden Doors
  • UPVC Doors
  • Decorative Panel Doors
  • Wood Kitchen Shutters
  • Flush Doors

 

 

Imports :

 

Products :

Woods

Countries :

Romania

 

 

Terms :

 

Selling :

Cash, Credit, Cheque

 

 

Purchasing :

Cash, Credit, Cheque

 

 

GENERAL INFORMATION

 

Supplier :

·         Alpine Export

·         Bee Gee Motors 

·         Discovery Woodcraft Private Limited

·         Bhardwaj ji Security Service       

·         Hari traders

·         Harpat Rai Surender Kumar

·         Inland Road Transport Private Limited     

·         Madhu Overseas

·         Parkash Electrical Corporation

·         Punjab Matal Works Private Limited

·         Punjab Tubes

·         Royal Industries

·         Shri Aadinath Enterprises

·         Shree Balajee Timber Store

·         Sunrise Trading

·         Virdi Engineering Works

·         V.K. patel and  Company

·         Balahra Company

·         Shree Shivansh Enterprises

·         Unique Plywoods Interiors

 

 

Customers :

End Users and Manufacturer

  • Mahavir Plastic and Company

 

 

No. of Employees :

15 (Approximately) (In Office + In Factory)

 

 

Bankers :
  • Punjab National Bank, Ranapratap Bagh, Delhi – 110085, Delhi, India

Contact No : 91-180-1802222/12-42340000

 

 

Facilities :

Secured Loan

 

 

Rs. In Millions

31.03.2011

Term Loan Punjab National Bank

 

1.936

Bank Cash Credit Punjab National Bank

 

5.050

TOTAL

 

6.986

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Bansal Garg and Associates

Chartered Accountant

Address :

836/22 Behind Gur Mandi, Sonepatv – 131001, Haryana, India

PAN No.:

AGFPG7806F

 

 

Associates/Subsidiaries :

Madhu Overseas

Sector – 11, Rohini, Delhi – 110007, India

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs1.000  Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

20000

Equity Shares

Rs.10/- each

Rs.0.200   Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2011

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

0.200

2] Share Application Money

 

 

1.790

3] Reserves & Surplus

 

 

0.137

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

2.127

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

6.986

2] Unsecured Loans

 

 

0.800

TOTAL BORROWING

 

 

7.786

DEFERRED TAX LIABILITIES

 

 

0.060

 

 

 

 

TOTAL

 

 

9.973

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

4.133

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.000

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

 
 
12.289

 

Sundry Debtors

 
 
6.934

 

Cash & Bank Balances

 
 
0.056

 

Other Current Assets

 
 
1.515

 

Loans & Advances

 
 
0.000

Total Current Assets

 

 
20.794

Less : CURRENT LIABILITIES & PROVISIONS

 

 
 

 

Sundry Creditors

 
 
14.207

 

Other Current Liabilities

 
 
0.000

 

Provisions

 
 
0.829

Total Current Liabilities

 

 
15.036

Net Current Assets

 

 
5.758

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.082

 

 

 

 

TOTAL

 

 

9.973

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2011

 

 

 

 

 

 

Total Income

 

 

23.105

 

 

 

 

 

Less

Total Expenditure

 

 

22.862

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX       

 

 

0.243

 

 

 

 

 

Less

TAX                                                                 

 

 

0.106

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX              

 

 

0.137

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

6.85

 

 

Particulars

 

 

 

31.03.2011

Sales Turnover (Approximately)

 

 

120.000

 

 

 

 

 

Expected Sales (2012-2013) : Rs.150.000 Millions

 

The above information has been parted by Mr. Javed [Production Manager] and Mr. Ajit Singh [Business Developer]

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2011

PAT / Total Income

(%)
 

 

0.59

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

 

0.97

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

0.11

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

6.37

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.38

 

 

LOCAL AGENCY FURTHER INFORMATION

 

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

Yes

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

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last one years

Yes

12]

Profitability for last one years

Yes

13]

Reasons for variation <> 20%

-----

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

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

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

No

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

UNSECURED LOAN

 

 

Particulars

 

Rs. In Millions

31.03.2011

Dinesh

 

0.500

Shree Ganes

 

0.300

TOTAL

 

0.800

 

 

FORM 8

 

Corporate identity number of the company

U36100DL2010PTC205103

Name of the company

DOR TECH DOORS INDIA PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

A – 212, 2ND Floor, North Mall, Sector 9, Rohini, Delhi -110085, Delhi, India

Email

SANJAYGARGASSOCIATES@GMAIL.COM

This form is for

Creation of charge

Type of charge

  • Others

Particular of charge holder

  • Punjab National Bank, Ranapratap Bagh, Delhi – 110085, Delhi, India

Nature of instrument creating charge

Letter of Hypothecation (For Loan)

Date of instrument Creating the charge

13.02.2012

Amount secured by the charge

Rs.0.400  Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of interest

 

11.50%

 

Terms of repayment

 

Car loan shall be repaid in 35 equated monthly installments of Rs.14,000/- each

 

 

Margin

 

26%

 

Extent and operation of the charge

 

The agreement shall operate as a continuing security for the balance due to the bank and all other monies due by the borrower.

Short particulars of the property charged (Including location of the property)

Term loan shall be primarily secured by hypothecation of motor car (Nissan Micra)

 

TRADE REFERENCES

 

·         Mahavir Plastic and Conmpany

 

FIXED ASSETS

 

·         Telephone

·         Furniture

·         Fixture and  fittings

·         Computer and printer

·         EPABX machine

·         Machinery

 

Motor cycleCMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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.54.54

UK Pound

1

Rs.87.69

Euro

1

Rs.72.85

 

 

INFORMATION DETAILS

 

Information Gathered by :

PLK

 

 

Report Prepared by :

HET

 

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

YES

--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

-

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.