|
Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
DKSH INDIA PRIVATE LIMITED (w.e.f. 14.12.2004) |
|
|
|
|
Formerly Known
As : |
SIBER HEGNER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1001 and 1002, Alpha, 10th Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
17.04.1996 |
|
|
|
|
Com. Reg. No.: |
11-098917 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1996PTC098917 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD12493F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS9103M |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of Chemicals and Pharmaceutical
Products. |
|
|
|
|
No. of Employees
: |
72 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1341000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
latest financials are not made available with the government department. As per previous year, the company seems to be having satisfactory
track record. 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) |
|
|
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. Vinod Rathod |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-61577000 |
LOCATIONS
|
Registered Office : |
1001 and 1002, Alpha, 10th Floor, |
|
Tel. No.: |
91-22-61577000/ 61577037 |
|
Fax No.: |
91-22-25707597 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: v Ahmedabad v
v Kolkata v Chennai v Mumbai v
v
Secunderabad |
DIRECTORS
(AS ON 30.06.2012)
|
Name : |
Mr. Natale Capri |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Via |
|
Date of Birth/Age : |
15.05.1970 |
|
Date of Appointment : |
18.06.2007 |
|
DIN No.: |
01542093 |
|
|
|
|
Name : |
Mr. Atul Shreeprakash Nagarkar |
|
Designation : |
Managing Director |
|
Address : |
34, Shreela, 2nd Floor, |
|
Date of Birth/Age : |
17.08.1971 |
|
Date of Appointment : |
14.06.2011 |
|
DIN No.: |
03511499 |
|
|
|
|
Name : |
Mr. Sebastian Christian Heuer |
|
Designation : |
Director |
|
Address : |
Glarnischstrasse 111, 8708 |
|
Date of Birth/Age : |
10.07.1976 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
03052757 |
|
|
|
|
Name : |
Mr. Mridul Kumar Basu |
|
Designation : |
Director |
|
Address : |
Flat No.2201, 22nd Floor, Meridian, Hiranandani Meadows, Pokhran
Road no.2, Thane (West), Thane – 400610, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1956 |
|
Date of Appointment : |
03.05.2010 |
|
DIN No.: |
03006583 |
KEY EXECUTIVES
|
Name : |
Mr. M.K. Basu |
|
Designation : |
Vice President Finance |
|
Qualification: |
B. Com (Hons), |
|
Date of Appointment : |
05.08.1997 |
|
|
|
|
Name : |
Mr. Vinod Rathod |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
|
|
|
|
DKSH Holding Limited, |
|
4799999 |
|
DKSH Management Limited, |
|
1 |
|
|
|
|
|
Total |
|
4800000 |
(AS ON 30.06.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Chemicals and Pharmaceutical
Products. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
v
Speciality and Life Science Chemicals v
Food Ingredients v
Cosmetics |
GENERAL INFORMATION
|
No. of Employees : |
72 (Approximately) |
|
|
|
|
Bankers : |
v
The Hong Kong and Shanghai Banking Corporation Limited Powai, Mumbai, Maharashtra, India v HDFC
Bank Limited, Powai, Mumbai, Maharashtra, India v ICICI
Bank Limited Powai, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
DKSH Holding
Limited, |
|
|
|
|
Fellow Subsidiaries * : |
v DKSH ( v PT DKSH v DKSH v DKSH Korea
Limited, v DKSH Corporate
Shared Services Centre Sdn v DKSH New Zealand
Limited, v Edward Keller ( v DKSH Thailand
Limited, v Diethelm Vietnam
Company, Limited, v DKSH Chile S.A. v DKSH v DKSH v DKSH Philippines
Inc., v DKSH Great
Britain Limited, v DKSH Italia v DKSH Management
Limited, v DKSH Switzerland
Limited, v DKSH North
America Inc., *The list of
parties has been limited to entities with whom transaction have been taken
place during the year |
CAPITAL STRUCTURE
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000
millions |
|
|
|
|
|
NOTE:
Of the above, 4799999 equity shares are held
by DKSH Holding Limited,
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
48.000 |
48.000 |
8.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
287.282 |
257.637 |
29.012 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
335.282 |
305.637 |
37.012 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
12.112 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
12.112 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
335.282 |
305.637 |
49.124 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
81.274 |
95.323 |
4.365 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.462 |
0.621 |
0.593 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
116.597
|
71.347
|
20.685 |
|
|
Sundry Debtors |
136.935
|
122.261
|
15.025 |
|
|
Cash & Bank Balances |
134.733
|
115.578
|
29.924 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
13.156
|
14.609
|
17.268 |
|
Total
Current Assets |
401.421
|
323.795
|
82.902 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
135.177
|
103.943
|
37.839 |
|
|
Other Current Liabilities |
3.279
|
3.100
|
0.838 |
|
|
Provisions |
10.419
|
7.059
|
0.059 |
|
Total
Current Liabilities |
148.875
|
114.102
|
38.736 |
|
|
Net Current Assets |
252.546
|
209.693
|
44.166 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
335.282 |
305.637 |
49.124 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
744.201 |
517.703 |
161.737 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
671.767 |
452.923 |
157.246 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72.434 |
64.780 |
4.491 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
0.020 |
0.492 |
0.471 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
72.414 |
64.288 |
4.020 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.610 |
13.698 |
1.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.804 |
50.590 |
2.871 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.160 |
21.964 |
1.439 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.644 |
28.626 |
1.432 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
57.286 |
28.660 |
27.228 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
86.930 |
57.286 |
28.660 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Fees |
13.056 |
12.688 |
11.929 |
|
|
|
Commission |
37.604 |
24.867 |
0.991 |
|
|
|
Export of Goods on F.O.B. basis |
2.914 |
0.463 |
0.466 |
|
|
TOTAL EARNINGS |
53.574 |
38.018 |
13.386 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
488.670 |
309.242 |
88.817 |
|
|
TOTAL IMPORTS |
488.670 |
309.242 |
88.817 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.18 |
13.00 |
1.79 |
|
|
Particulars |
|
From 01.01.2012
to till date |
31.12.2011 |
|
Sales Turnover (Approximately) |
|
1500.000 |
1000.000 |
|
|
|
|
|
Expected Sales (2013): Rs.2000.000 millions
The above information has been parted by Mr. Vinod Rathod (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
3.98 |
5.53
|
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.94 |
12.07
|
7.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.44 |
0.37
|
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.70 |
2.84
|
2.14 |
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) 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 three years |
Yes |
|
12) Profitability for last three 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 |
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)
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 |
NOTE:
The Registered office of the company has been shifted from, 304, Alpha,
Hiranandani Business Park, Powai, Mumbai - 400 076, Maharashtra to the
present address w.e.f. 10.09.2009.
FIXED ASSETS
· Goodwill
· Leasehold Improvements
· Furniture and Fixtures
· Office Equipments
· Electrical Installation
· Computers
· Vehicles
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 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.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.