1. Summary Information
|
|
|
Country |
|
|
Company Name |
DMC Automotive Private Limited |
Principal Name 1 |
Jin Ki Hong |
|
Status |
Moderate |
Principal Name 2 |
Sung Hong Tai |
|
|
|
Registration # |
18-061443 |
|
Street Address |
No. 5, |
||
|
Established Date |
03.11.2006 |
SIC Code |
-- |
|
Telephone# |
91-44-276-3924 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Supplier |
|
Homepage |
-- |
Product Name 1 |
Gaskets |
|
# of employees |
Not Available |
Product Name 2 |
- |
|
Paid up capital |
Rs. 96,041,000 |
Product Name 3 |
- |
|
Shareholders |
Foreign Holdings 100 .00 % |
Banking |
Axis Bank |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation |
Country
|
Company
Name |
CEO |
|
Associates |
|
DMC
Automotive Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
121,635,000 |
Current Liabilities |
117,511,000 |
|
Inventories |
26,212,000 |
Long-term Liabilities |
85,061,000
|
|
Fixed Assets |
118,318,000 |
Other Liabilities |
0.000 |
|
Deferred Assets |
5,265,000 |
Total Liabilities |
202,572,000 |
|
Invest& other Assets |
6,603,000 |
Retained Earnings |
(20,580,000) |
|
|
|
Net Worth |
75,461,000 |
|
Total Assets |
278,033,000 |
Total Liab. & Equity |
278,033,000 |
|
Total Assets (Previous Year) |
183,576,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
182,287,000 |
Net Profit |
1,314,000 |
|
Sales(Previous yr) |
156,709,000 |
Net Profit(Prev.yr) |
(961,000) |
MIRA
INFORM REPORT
|
Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
DMC AUTOMOTIVE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.5, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.11.2006 |
|
|
|
|
Com. Reg. No.: |
18-061443 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.96.041 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50500TN2006PTC061433 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHED05829F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and supplier of Gaskets |
|
|
|
|
No. of Employees
: |
Not Available |
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 300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears some accumulated losses recorded by the company. However, the performance capability has improved during the current
year and earned profit. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. 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
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.
LOCATIONS
|
Registered Office : |
No.5, |
|
Tel. No.: |
91-44-2769 3922 / 23 / 24 / 25 / 31 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 12.09.2012
|
Name : |
Hong Ki Jin |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
Ju-Gong Apt, 902-708, 672 (16/4), Gojan-dong, Danwon-Gu, Ansan-Si, Gyeonggi-Do
Ansan – 425 082 |
||||||||||||||||||
|
Date of Birth/Age : |
27.04.1968 |
||||||||||||||||||
|
Email: |
|||||||||||||||||||
|
Date of Appointment : |
08.03.2010 |
||||||||||||||||||
|
DIN No.: |
01684807 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Sung Tai Hong |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
203, 1403-3 (6/3), Dong Seochu – Gu, |
||||||||||||||||||
|
Date of Birth/Age : |
20.01.1965 |
||||||||||||||||||
|
Date of Appointment : |
08.10.2009 |
||||||||||||||||||
|
DIN No.: |
02769081 |
||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Dongah Manufacturing Corporation, |
8334515 |
86.78 % |
|
Uchiyama Manufacturing Corporation, |
1269600 |
13.22 % |
|
Total |
9604115 |
100 % |
As on 07.01.2013
|
Names of the Allottee |
No. of shares
Allotted |
|
Dongah Manufacturing Corporation, |
4695666 |
|
Uchiyama Manufacturing Corporation, |
723530 |
|
Total |
5419196 |
Equity Share Break up (Percentage of Total Equity)
As on 12.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier of Gaskets |
GENERAL INFORMATION
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KGS and Associates Chartered Accountants |
|
Address : |
New No. 45, Old No. 19, |
|
PAN No.: |
AAHFK1004F |
|
|
|
|
Holding Company: |
# 729 – 6 Wonshi Dong, Danwongu,
Ansancity, |
|
Group Company: |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9604115 |
Equity Shares |
Rs.10/- each |
Rs. 96.041 Millions |
After 12.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs. 160.000 Milllios |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15023311 |
Equity Shares |
Rs.10/- each |
Rs. 150.233 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
96.041 |
96.041 |
96.041 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(20.580) |
(21.895) |
(20.935) |
|
|
NETWORTH |
75.461 |
74.146 |
75.106 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
85.061 |
33.999 |
33.999 |
|
|
TOTAL BORROWING |
85.061 |
33.999 |
33.999 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
1.441 |
1.218 |
|
|
|
|
|
|
|
|
TOTAL |
160.522 |
109.587 |
110.323 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
118.318 |
97.297 |
103.493 |
|
|
Capital work-in-progress |
6.603 |
0.426 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
5.265 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.212
|
34.057 |
13.079 |
|
|
Sundry Debtors |
22.152
|
25.590 |
32.418 |
|
|
Cash & Bank Balances |
56.648
|
6.422 |
9.003 |
|
|
Other Current Assets |
0.000
|
0.000 |
12.949 |
|
|
Loans & Advances |
42.835
|
19.783 |
3.933 |
|
Total
Current Assets |
147.847
|
85.852 |
71.382 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
115.499
|
72.270 |
63.580 |
|
|
Other Current Liabilities |
2.012
|
1.719 |
0.972 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
117.511
|
73.989 |
64.552 |
|
|
Net Current Assets |
30.336
|
11.863 |
6.830 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
160.522 |
109.587 |
110.323 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
182.287 |
156.709 |
165.965 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
187.678 |
157.447 |
161.790 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(5.391) |
(0.738) |
4.175 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(6.705) |
0.223 |
0.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.314 |
(0.961) |
3.557 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
116.508 |
128.798 |
108.395 |
|
|
|
Repairs & Maintenance |
0.117 |
0.057 |
0.056 |
|
|
|
Capital Goods |
5.957 |
3.591 |
4.500 |
|
|
TOTAL IMPORTS |
122.582 |
132.446 |
112.951 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.11 |
(0.10) |
0.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.72
|
(0.61) |
2.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.96)
|
(0.47) |
2.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.65)
|
(0.86) |
5.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07)
|
(0.01) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.13
|
0.46 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.16 |
1.11 |
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 |
No |
|
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 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTES :
Registered office of the company has been shifted from 11 1st
Floor 14th Cross Street, Shastri Nagar Adyar, Chennai - 600020,
Tamil Nadu to the present address w.e.f. 20.02.2008.
UNSECURED LOAN:
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Term Loans from Banks |
51.809 |
33.999 |
|
Term Loans from Others |
33.252 |
0.000 |
|
Total |
85.061 |
33.999 |
OPERATION OF THE
COMPANY:
The company is a subsidiary of Dongah Manufacturing Corp,
FIXED ASSETS:
- Building
- Plant & Machinery
- Computer
- Furniture & fittings
- Office Equipment
- Vehicle
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.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.