MIRA
INFORM REPORT
|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
D & H SECHERON ELECTRODES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
213D / 215 D, Vishnu Shopping Centre, Plot No.37, Sector
15, CBD Belapur, Navi Mumbai – 400614, Maharashtra |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
03.06.1965 |
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|
|
|
Com. Reg. No.: |
11-164343 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 69.232 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32101MH1965PTC164343 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLD00066D |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACD6111E |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing and
sale of Industrial Welding Electrodes and Consumables. |
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|
|
|
No. of Employees
: |
600
(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 1550000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as decent. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered for business dealings at 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits : “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits : “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
August, 2012 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Mandar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40428100 |
|
Date : |
22.07.2013 |
LOCATIONS
|
Registered Office : |
213 D/215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi Mumbai-400614,
Maharashtra, India. |
|
Tel. No.: |
91-22-27561339 / 27561798 / 41264646 / 27561798 |
|
Fax No.: |
91-22-27561299 / 41254605 |
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E-Mail : |
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|
Website : |
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|
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Corporate Office : |
Merchant Chambers, 5th Floor, West Wing, 41 New Marine
Lines, Opposite Patkar Hall, Mumbai-400020, |
|
Tel. No.: |
91-22-40428112 / 40428100 / 22037663 / 40428100 |
|
Fax No.: |
91-22-40428101 / 22037664 |
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E-Mail : |
|
|
|
|
|
Factory 1: |
44-46, Industrial Estate Kila Maidan, Post Bag No. 3, Indore-452006, |
|
Tel. No.: |
91-731-2412331 / 37 |
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Fax No.: |
91-731-2412338 |
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E-Mail : |
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|
|
Factory 2 : |
Village: Dakachya, |
|
Tel. No.: |
91-731-2309001 / 2805253 / 2805083 |
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Fax No.: |
91-731-2805188 |
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|
|
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Branches: |
Located At: ·
Mumbai ·
Nashik ·
·
Vasai ·
Ahmedabad ·
·
Gandhidham ·
·
·
Pune ·
Kolkata ·
·
·
·
Angul ·
Jharsuguda ·
Guwahati ·
·
·
·
·
·
Secundrabad ·
Vizag ·
Chennai ·
·
Neyveli ·
Trichy ·
·
·
Mangalore ·
·
·
Sitapur ·
Anpara ·
Korba ·
Bilaspur ·
Bhilai ·
Satna ·
·
Bokaro ·
·
Chittorgarh ·
·
|
DIRECTORS
As on 22.09.2012
|
Name : |
Mr. Murli Dhar Khatri |
|
Designation : |
Managing Director |
|
Address : |
184 Kalani Nagar, Aerodrome Road, Indore-452005, Madhya Pradesh, India. |
|
Date of Birth/Age : |
08.03.1940 |
|
Date of Appointment : |
01.07.2006 |
|
PAN No.: |
ADNPK8159J |
|
DIN No.: |
00064698 |
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|
|
|
Name : |
Mr. Arvind A. Maheshwari |
|
Designation : |
Whole-time director |
|
Address : |
22, Maket Tower, “I” Cuffe Parade, Mumbai-400005, Maharashtra, India. |
|
Date of Birth/Age : |
23.11.1971 |
|
Qualification : |
B. E. |
|
Experience : |
14 Years |
|
Date of Appointment : |
12.06.2003 |
|
PAN No.: |
AABPM4271G |
|
DIN No.: |
00094313 |
|
|
|
|
Name : |
Mr. Ashok H. Maheshwarri |
|
Designation : |
Whole-time director |
|
Address : |
21-22, Maket Tower, “I” Cuffe Parade, Mumbai-400005, Maharashtra, India. |
|
Date of Birth/Age : |
12.04.1946 |
|
Qualification : |
B.Com, LLB, C.A. |
|
Experience : |
42 Years |
|
Date of Appointment : |
14.06.1986 |
|
PAN No.: |
AABPM4268K |
|
DIN No.: |
00094358 |
|
|
|
|
Name : |
Ms. Suman Maheshwari |
|
Designation : |
Whole-time director |
|
Address : |
21-22, Maket Tower, “I” Cuffe Parade, Mumbai-400005, Maharashtra, India. |
|
Date of Birth/Age : |
10.05.1950 |
|
Qualification : |
Graduate |
|
Experience : |
26 Years |
|
Date of Appointment : |
17.07.1986 |
|
PAN No.: |
AABPM4269J |
|
DIN No.: |
00094423 |
|
|
|
|
Name : |
Mr. Parasmal Mogra |
|
Designation : |
Whole-time director |
|
Address : |
60, New Dewas Road, Indore-452003, Madhya Pradesh, India. |
|
Date of Birth/Age : |
01.06.1952 |
|
Date of Appointment : |
01.07.2006 |
|
DIN No.: |
00264164 |
KEY EXECUTIVES
|
Name : |
Mr. Mandar |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sam Holding ( |
|
191024 |
|
Sam Farms and Food Private Limited, India |
|
177203 |
|
Sam Project Developers Private Limited, India |
|
174420 |
|
Sam Spintex Limited, India |
|
30281 |
|
Dwekam Weldtech Limited, India |
|
42573 |
|
Celestical Commercial Private Limited, India |
|
5542 |
|
Sam Capital Market Limited, India |
|
22584 |
|
Sam Hoteliers and Resorts Private Limited, India |
|
23614 |
|
Steward Trading and Investment Private Limited, India |
|
7084 |
|
Suman A. Maheshwari Geetanjali A. Maheshwari |
|
3288 |
|
Suman A. Maheshwari Seema A. Maheshwari |
|
2976 |
|
Seema A. Maheshwari Suman A. Maheshwari |
|
510 |
|
Gitanjali A. Maheshwari Suman A. Maheshwari |
|
385 |
|
Arvind A. Maheshwari “HUF” |
|
9756 |
|
Ashutosh Maheshwari “HUF” |
|
1080 |
|
Total
|
|
692320 |
As on 22.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
97.40 |
|
Directors or relatives of Directors |
1.03 |
|
Other top fifty shareholders |
1.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and
sale of Industrial Welding Electrodes and Consumables. |
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Products : |
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Exports : |
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Products : |
Finished goods |
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Countries : |
· South Africa Kenya UAE |
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Imports : |
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Products : |
Raw Materilas |
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Countries : |
· Australia china |
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Terms : |
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Selling : |
L/C and Advance Payment |
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Purchasing : |
L/C and Advance Payment |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
· Union Bank of India, Main Branch, 1/3, Murai Mohalla, Sanyogitaganj, Indore - 452001, Madhya Pradesh, India Tel. No.: 91-731-2706142 Union Bank of India, Union Loan Point, 2/2, Old Palasiya,
IKDC Campus, Indore - 452001, Madhya Pradesh, India ICICI Bank Limited HDFC Bank Limited Barclays Bank |
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Facilities : |
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|
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Banking Relations
: |
-- |
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|
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|
Financial
Institution: |
· Fullerton India Credit Company Limited, Megh Towers, 3rd Floor, Old No. 307, New No. 165, Poonmallee High Road, Maduraoyal, Chennai – 600095, Tamilnadu, India 3i Infotech Trusteeship Services Limited, 3rd
to 6th floor, International Infotech Park, Tower No.5, Vashi
Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India · Kotak Mahindra Prime Limited |
|
|
|
|
Auditors : |
|
|
Name : |
G V Rangnekar and Company Chartered Accountants |
|
Address : |
128 Mahankal Road, Opposite Mahankaleshwar Temple, Rangna Building, Indore, Madhya Pradesh, India |
|
PAN No. : |
AABFG4195R |
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|
|
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Subsidiary
Companies : |
· DandH Secheron Overseas Limited, UK Dalamal and Hassamal Secheron Welding (EA) Limited, Africa |
|
|
|
|
Companies having
substantial interest i.e. holding more than 20% shares : |
· Sam Farms and Foods Private Limited Sam Holdings (Bombay) Private Limited Sam Project Developers Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990000 |
Equity Share |
Rs.100/- Each |
Rs. 99.000 Millions |
|
10000 |
Preference Share |
Rs.100/-Each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 100.000 Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
985800 |
Equity Shares |
Rs.100/- each |
Rs. 98.580 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
692320 |
Equity Shares |
Rs.100/- each |
Rs. 69.232 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
69.232 |
68.410 |
|
(b) Reserves & Surplus |
|
318.599 |
266.567 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
387.831 |
334.977 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
84.408 |
111.508 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
18.625 |
16.125 |
|
Total Non-current Liabilities (3) |
|
103.033 |
127.633 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
203.099 |
246.841 |
|
(b) Trade payables |
|
270.536 |
200.807 |
|
(c) Other current
liabilities |
|
170.903 |
140.638 |
|
(d) Short-term provisions |
|
14.128 |
17.806 |
|
Total Current Liabilities (4) |
|
658.666 |
606.092 |
|
|
|
|
|
|
TOTAL |
|
1149.530 |
1068.702 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
235.980 |
224.136 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
44.831 |
1.866 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
209.132 |
211.750 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
98.260 |
123.968 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
588.203 |
561.720 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
335.594 |
270.763 |
|
(c) Trade receivables |
|
138.467 |
112.782 |
|
(d) Cash and cash
equivalents |
|
16.919 |
68.926 |
|
(e) Short-term loans and
advances |
|
69.472 |
51.344 |
|
(f) Other current assets |
|
0.875 |
3.167 |
|
Total Current Assets |
|
561.327 |
506.982 |
|
|
|
|
|
|
TOTAL |
|
1149.530 |
1068.702 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
68.410 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
227.374 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
295.784 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
263.443 |
|
|
2] Unsecured Loans |
|
|
66.991 |
|
|
TOTAL BORROWING |
|
|
330.434 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
626.218 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
266.706 |
|
|
Capital work-in-progress |
|
|
15.009 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
192.170 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
280.728
|
|
|
Sundry Debtors |
|
|
68.668
|
|
|
Cash & Bank Balances |
|
|
42.536
|
|
|
Other Current Assets |
|
|
2.174
|
|
|
Loans & Advances |
|
|
170.929
|
|
Total
Current Assets |
|
|
565.035 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
191.271
|
|
|
Other Current Liabilities |
|
|
121.136
|
|
|
Provisions |
|
|
100.595
|
|
Total
Current Liabilities |
|
|
413.002 |
|
|
Net Current Assets |
|
|
152.033
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.300 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
626.218 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1686.101 |
|
|
|
Other Income |
|
|
14.545 |
|
|
|
TOTAL (A) |
2685.376 |
2349.754 |
1700.646 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials, Packing Materials, Finished Goods and Semi-Finished
Goods |
|
|
982.010 |
|
|
|
Manufacturing Expenses |
|
|
108.105 |
|
|
|
Selling and Distribution Expenses |
|
|
153.026 |
|
|
|
Payments to and Provision for Employees |
|
|
134.443 |
|
|
|
Director’s Remuneration |
|
|
31.142 |
|
|
|
Administrative and Other Expenses |
|
|
160.495 |
|
|
|
Loss on |
|
|
0.000 |
|
|
|
Loss on |
|
|
0.000 |
|
|
|
TOTAL (B) |
2610.917 |
2244.325 |
1569.221 |
|
|
|
(Including |
(Including |
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
Financial and
Depreciation) |
Financial and
Depreciation) |
131.425 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
28.912 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
102.513 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
21.233 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
74.459 |
105.429 |
81.280 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.158 |
34.207 |
27.636 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
50.301 |
71.222 |
53.644 |
|
|
|
|
|
|
|
|
|
Add |
Previous Year’s income/provision written back |
12.662 |
0.635 |
1.155 |
|
|
|
|
|
|
|
|
|
Less |
Previous year Expenses |
0.000 |
0.473 |
4.376 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.287 |
10.589 |
8.979 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
20.000 |
|
|
|
Interim Dividend |
12.314 |
16.418 |
0.000 |
|
|
|
Tax on Interim Dividend |
1.997 |
2.727 |
0.000 |
|
|
|
Dividend |
4.154 |
8.209 |
24.628 |
|
|
|
Tax on Dividend |
0.673 |
1.332 |
4.185 |
|
|
BALANCE CARRIED
TO THE B/S |
37.112 |
23.287 |
10.589 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
77.387 |
73.363 |
59.412 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
104.11 |
73.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.87
|
3.03
|
3.15
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
4.82
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.31
|
12.33
|
9.77
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.31
|
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.74
|
1.07
|
1.12
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
0.84
|
1.37
|
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 |
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 |
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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITY OF
LONG TERM DEBTS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Secured Loans |
|
|
|
|
Term Loans From
Banks |
|
|
|
|
Union Bank of India |
12.000 |
9.000 |
|
|
ICICI Bank |
0.000 |
46.388 |
|
|
Car Loan: |
|
|
|
|
ICICI Bank |
0.158 |
0.094 |
NA |
|
HDFC Bank |
2.692 |
3.191 |
|
|
UBI |
0.820 |
0.303 |
|
|
Kotak Mahindra Prime Limited |
1.170 |
1.784 |
|
|
Unsecured loans |
|
|
|
|
Barclays Bank |
0.998 |
0.844 |
|
|
Total |
17.838 |
61.604 |
NA |
NOTE :
Registered office of the company has been shifted from 44/46, Industrial Estate, Kila Maidan, Indore, Madhya Pradesh, India to the present address w.e.f. 03.08.2006
CORPORATE
INFORMATION
The Company is engaged in the business of manufacturing and sale of Industrial Welding Electrodes and Consumables. The Manufacturing Facilities are situated at Indore which is Business Capital of State of Madhya Pradesh.
PERFORMANCE
During the year, the company has posted appreciable operating performance in terms of enhancement in overall sales and maintenance of sales realization.
The Gross sales and other income of the company have gone up by about 15.81%, Total cost of goods produced appreciated by about 22.94%. Selling and Administrative expenses reduced by 16.18%. The Management is keeping the controllable costs under control and upgraded its sales performance during the year. Modernization is continuously going on in the company whereby additional machineries have been procured/installed at different Manufacturing units.
FUTURE OUTLOOK
for a better performance of the company in the year 2012-13 for the fact that general economic indicators of the country are improving. The company, during the year, despite liquidity constraints, continued with the modernization program at different units . The company would be able to properly and effectively wither away any kind of competition which is envisaged in near future. The Directors are very much hopeful of bright performances in the years to come. Under continuous expansion programmes company has established a foreign marketing branch at Kenya.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long term
borrowings |
|
|
|
Rupee term loans from banks |
21.270 |
23.767 |
|
Intercorporate deposits |
19.671 |
48.707 |
|
Deposits from others |
2.500 |
0.937 |
|
Short term borrowings |
|
|
|
Rupee term loans from banks |
0.998 |
0.844 |
|
Loans repayable on demand from banks |
0.075 |
6.820 |
|
Loans and advances from related parties |
7.340 |
0.000 |
|
Other loans and advances |
58.175 |
54.150 |
|
Total |
110.029
|
135.225
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U32101MH1965PTC164343 |
|
Name of the
company |
D AND H SECHERON
ELECTRODES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
213D / 215 D, Vishnu Shopping Centre, Plot No.37, Sector
15, CBD Belapur, Navi Mumbai – 400614, Maharashtra, India E-mail: tandl@dnhsecheron.net
|
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Union Bank of India, Union Loan Point, 2/2, Old Palasiya, IKDC Campus,, Indore - 452001, Madhya Pradesh, India E-mail: ulpindore@unionbankofindia.com
|
|
Nature of
instrument creating charge |
Hypothecation of
vehicles agreement (SD-10) |
|
Date of
instrument Creating the charge |
24.01.2013 |
|
Amount secured by
the charge |
Rs. 0.360 million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Fixed rate of
0.45% p.a. on on above base rate i.e.10.50% i.e. effective rate is 10.95% Terms of Repayment Repayable in 36 equal
monthly instalments Margin 15% of the price
of the vehicle Others The vehicle is under hypothecation with the bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Car Wagonar LXI -BS4WMR4CS2, engine no -
K10BN4482114, chassis no MA3EWDE1S00516693 |
CONTINGENT
LIABILITIES NOT PROVIDED: (AS ON 31.03.2012)
(Rs. in millions)
(a) In respect of counter guarantee given to banks, for issuing performance guarantee to third parties of Rs 1.670 millions (Previous year Rs. 1.418 millions). The Company has also provided Corporate Guarantee of pound sterling 15,50,000 (INR 10.50 Crores Approx) to Barclays Private Clients International Limited. for additionally securing the financial assistance being provided by the said bankers to our wholly owned subsidiary company DandH Secheron (Overseas) Limited. Isle of Man.
(b) In respect of partly paid debentures Rs. 0.022 millions.
(c) In respect of disputed entry tax, CST and VAT of Rs. 1.764 millions for which the Company has already preferred appeal to concerned appellant authority (Previous year dues Rs. 2.256 millions).
FIXED ASSETS
· Leasehold Assets: Land
Freehold
Assets: Land
Buildings
Plant
and Machinery
Generator
Set
Electrical
and Water Installation
Office
Equipments and Furniture
Labortory
Equipments
Cycle
Stand
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.59.69 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.