MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

DESICCANT ROTORS INTERNATIONAL PRIVATE LIMITED (w.e.f. 20.02.2006)

 

 

Formerly Known As :

ARCTIC INDIA ENGINEERING PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Information declined by the Management.

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is involved in manufacturing of energy recovery products and other equipments for ventilation, fresh air treatment for maintaining indoor air quality. 

 

 

Products :

  • Arctic Cooler
  • Spot Cooler
  • Dedicated Outdoor Air Systems
  • Dehumidification Wheel
  • Recovery Wheels
  • Evaporative Cooling Pads
  • Treated Fresh Air Units
  • Energy Recovery Ventilator

 

PRODUCTION STATUS (AS ON 31.03.2011):

 

Particulars

Unit

Actual Production

Heat recovery wheel with accessories (All Types)

Nos.

8168

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

·         Citibank N.A, Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi – 110 001, India

·         The Royal Bank of Scotland N.V., 4, North Avenue, Level 3, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India

·         ABN Amro Bank N.V., Hansalaya Building, 15, Barakhamba Road, New Delhi – 110 001, India

 

 

Facilities :

Secured Loans

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

SHORT-TERM BORROWINGS

 

 

Packing credit in foreign currency

 

 

From Bank

(Packing credit in foreign currency from bank is secured against hypothecation of the inventories and trade receivables.)

16.294

26.580

Total

16.294

26.580

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Walker Chandiok and Company

Chartered Accountants

Address :

L-41, Connaught Circus, New Delhi – 110 001, India

Tel. No.:

91-11-42787070

Fax No.:

91-11-42787071

E-Mail :

newdelhi@in.gt.com

PAN No.:

AAAFW4298E

 

 

Subsidiary Company :

Desiccant Rotors International Inc., USA

 

 

Entities over which KMP is able to exercise significant Control (As on 31.03.2012) :

·         Bry Air (Asia) Private Limited

·         Delair India Private Limited

·         Technical Drying Services  (Asia) Private Limited

·         Insent Commercial Private Limited

·         Ahlberg+Hennrich GMBH

·         Bry Air (Malaysia) Sdn. Bhd.

·         Bry Air (Shanghai) Air Treatment Eqp. Company Limited

·         Accentium Web Private Limited

·         Arctic India Sales Private Limited

·         Airgineers (Global) Private Limited

·         Pahwa (Holding) Private Limited

 

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

No. of Shares

 

Percentage of holding

Deepak Pahwa

2971

74.00

Vinita Pahwa

1030

26.00

Total

4001

100.00

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.      EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

0.400

0.400

0.400

(b) Reserves & Surplus

1311.175

1146.264

954.260

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

1311.575

1146.664

954.660

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.015

1.689

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

6.640

4.402

2.972

Total Non-current Liabilities (3)

6.640

4.417

4.661

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

16.294

26.580

43.291

(b) Trade payables

91.639

89.251

64.993

(c) Other current liabilities

13.608

12.516

8.166

(d) Short-term provisions

14.326

25.631

0.774

Total Current Liabilities (4)

135.867

153.978

117.224

 

 

 

 

TOTAL

1454.082

1305.059

1076.545

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

102.119

111.807

119.253

(ii) Intangible Assets

1.710

1.673

1.678

(iii) Capital work-in-progress

6.574

9.139

6.414

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1.180

1.180

1.180

(c) Deferred tax assets (net)

5.326

0.000

0.000

(d)  Long-term Loan and Advances

18.757

18.028

10.530

(e) Other Non-current assets

0.500

0.500

0.500

Total Non-Current Assets

136.166

142.327

139.555

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

720.441

630.795

504.821

(b) Inventories

85.866

125.069

110.717

(c) Trade receivables

405.689

317.005

235.063

(d) Cash and cash equivalents

13.643

37.632

28.289

(e) Short-term loans and advances

92.277

53.231

58.100

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

1317.916

1163.732

936.990

 

 

 

 

TOTAL

1454.082

1305.059

1076.545

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from Operations (Gross)

NA

724.047

651.400

 

 

Other Income

NA

59.297

21.028

 

 

TOTAL                                    

NA

783.344

672.428

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

NA

511.729

488.802

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

NA

511.729

488.802

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION  

247.956

271.615

183.626

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

14.208

15.105

16.081

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

233.748

256.510

167.545

 

 

 

 

 

Less

TAX                                                                 

68.837

64.506

48.660

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

164.911

192.004

118.885

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export value of goods

417.939

418.897

354.087

 

 

Interest

 

0.380

0.333

 

TOTAL EARNINGS

417.939

419.277

354.420

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials, components and stores

NA

48.729

53.127

 

 

Capital Goods

NA

2.144

0.000

 

TOTAL IMPORTS

NA

50.873

53.127

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

41217.44

47988.91

29713.91

 

 

CORPORATE INFORMATION:

 

The Company was incorporated on February 6, 1984. The Company is involved in manufacturing energy recovery products and other equipment for ventilation, fresh air treatment for maintaining indoor air quality.

 

PERFORMANCE HIGHLIGHTS:

 

During the financial year, the-profit before tax has decreased by 8.82% from Rs.256.510 millions to Rs.233.748 millions and profit after tax decreased by 14.11% from Rs.192.004 millions to Rs.164.917 millions.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered Office :

20, Rajpur Road, Civil Lines, New Delhi – 110 054, India

Tel. No.:

91-11-23906666

Fax No.:

91-11-23906600

E-Mail :

dpahwa@pahwa.com

dri@pahwa.com

nkverma@pahwa.com

Website :

http://www.drirotors.com

 

 

Factory :

100-101, Udyog Vihar, Phase - IV, Gurgaon – 122 015, Haryana, India

Tel. No.:

91-124-4188888

Fax No.:

91-124-4188800

E-Mail :

drigurgaon@pahwa.com

driplant@pahwa.com

rsaran@pahwa.com 

 

 

Branch Office 1 :

319, T.V. Tower, Industrial Estate, Worli, Mumbai – 400 025, Maharashtra, India

Tel. No.:

91-22-24935155/ 24947475/ 24925175

Fax No.:

91-022-24931020

E-Mail :

drimumbai@pahwa.com

 

 

Branch Office 2 :

Shivam Chambers, 53, Syed Amir Ali Avenue, Kolkata – 700 019, West Bengal, India

Tel. No.:

91-33-22814841/ 22814877

Fax No.:

91-33-22814850

E-Mail :

drikolkata@pahwa.com

 

 

Branch Office 3 :

New #5 (Old #20), 2nd Street, E-Block, Anna Nagar-East, Chennai – 600 102, Tamilnadu, India

Tel. No.:

91-44-42693761/ 62

Fax No.:

91-44-42026406

E-Mail :

drichennai@pahwa.com

 

 

Overseas Offices :

Located at:

 

·         USA

·         UAE

·         Korea

·         Europe

·         Philippines

·         Malaysia

·         China

·         Australia

·         Africa

·         Turkey 

·         Japan

·         Brazil

 

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.