MIRA INFORM REPORT

 

 

Report Date :

21.11.2014

 

IDENTIFICATION DETAILS

 

Name :

DWP INTERICS PRIVATE LIMITED

 

 

Registered Office :

201, Yaro Mansion, 15, Haudin Road, Ulsoor, Bangalore – 560042, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

11.09.2001

 

 

Com. Reg. No.:

08-029522

 

 

Capital Investment / Paid-up Capital :

Rs. 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U74210KA2001PTC029522

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRD02016A

 

 

PAN No.:

[Permanent Account No.]

AABCD4360L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into Interior Designer.

 

 

No. of Employees :

120 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (52)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 260000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having good track record.

 

Financial position of the company is sound.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

The company can be considered normal 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.

 

 

ECGC Country Risk Classification List – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

N E W S

 

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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 31-03-2014.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Nethaji S.

Designation :

Planning Engineers

Contact No.:

91-80-25591251

Date :

21.11.2014

 

 

LOCATIONS

 

Registered Office :

201, Yaro Mansion, 15, Haudin Road, Ulsoor, Bangalore – 560042, Karnataka, India

Tel. No. :

91-80-25591251/ 52/ 25325755

Fax No. :

91-80-25580286/ 25092257

E-Mail :

n.murthy@dwpinterics.com

contact@dwpinterics.com

india@dwpinterics.com 

Website :

www.dwpinterics.com

 

 

Branch Offices :

Located at

 

·         Chennai

·         Hyderabad

·         Pune

·         Delhi

·         Bangalore

·         Mumbai

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Mr. Raju Chacko Philip

Designation :

Director

Address :

B-3, Hermitage, 22 Haudin Road, Ulsoor, Bangalore – 560042,  Karnataka, India

Date of Birth/Age :

28.01.1955

Date of Appointment :

11.09.2001

DIN No. :

00276499

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U74210KA1995PTC018655

INTERICS CONSULTANTS PRIVATE LIMITED

Director

28-08-1995

28-08-1995

Active

NO

2

U00063KA1995PTC018654

MATRIX INTERNATIONAL (INDIA) PRIVATE LIMITED

Director

28-08-1995

28-08-1995

Strike off

NO

3

U74210KA2001PTC029522

DWP INTERICS PRIVATE LIMITED

Director

11-09-2001

11-09-2001

Active

NO

4

U74994KA2004PTC033394

INTERICS INTERIOR MANAGEMENT PRIVATE LIMITED

Director

16-02-2004

16-02-2004

Active

NO

5

U55101KA2005PTC036549

ZYNC CAFE PRIVATE LIMITED

Director

14-06-2005

14-06-2005

Active

NO

 

 

Name :

Mr. Ashok Gopal Prabhu

Designation :

Director

Address :

108, 10th Main, 8th  Cross, RMV Extension, Sadashivanagar, Bangalore – 560080, Karnataka, India

Date of Birth/Age :

04.07.1957

Date of Appointment :

11.09.2001

DIN No. :

00276820

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U74210KA1995PTC018655

INTERICS CONSULTANTS PRIVATE LIMITED

Director

28-08-1995

28-08-1995

Active

NO

2

U00063KA1995PTC018654

MATRIX INTERNATIONAL (INDIA) PRIVATE LIMITED

Director

28-08-1995

28-08-1995

Strike off

NO

3

U74210KA2001PTC029522

DWP INTERICS PRIVATE LIMITED

Director

11-09-2001

11-09-2001

Active

NO

4

U74994KA2004PTC033394

INTERICS INTERIOR MANAGEMENT PRIVATE LIMITED

Director

16-02-2004

16-02-2004

Active

NO

5

U55101KA2005PTC036549

ZYNC CAFE PRIVATE LIMITED

Director

14-06-2005

14-06-2005

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Nethaji S.

Designation :

Planning Engineers

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Philip Raju Chacko

5000

50.00

Ashok Gopal Prabhu

5000

50.00

Total

10000

100.00

 

 

As on 30.09.2013

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into Interior Designer.

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

 

 

 

NOT DIVULGED

Name of the Person (with Designation):

Contact Number:

Since How Long Known:

Experience :

Maximum Limit Dealt:

 

 

Customers :

Reference:

 

 

 

NOT DIVULGED

Name of the Person (with Designation):

Contact Number:

Since How Long Known:

Experience :

Maximum Limit Dealt:

 

·         Others (Corporates)

 

 

No. of Employees :

120 (Approximately)

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

Old Airport Road, Bangalore, Karnataka, India

Name of the Person (with Designation):

 

 

 

NOT DIVULGED

Contact Number:

Name of Account Holder:

Account Number:

Account Since (Date/ Year of A/c Opening):

Average Balance Maintained (Optional):

Credit Facilities Enjoyed (CC/OD/Term Loan):

Account Operation:

Remarks:

 

·         HSBC Bank

·         State Bank of India

·         IDBI Bank Limited

·         ICICI Bank Limited

·         ING Vysya Bank

 

 

Facilities :

--

 

 

 

Auditors :

 

Name :

ABS and Company

Chartered Accountants

Address :

32, G 3, 15th Cross, 11th Main Road, Malleshwaram, Bangalore – 560055, Karnataka, India

Tel. No. :

91-80-23448727

Fax No. :

91-80-23561653

E-Mail :

hnarao@gmail.com

hnarao@dataone.in

Income-tax PAN of auditor or auditor's firm :

AAEFA8356R

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

As on 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs.10/- each

Rs. 0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10,000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

 

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

0.100

0.100

0.100

(b) Reserves & Surplus

91.637

76.608

64.095

(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)

91.737

76.708

64.195

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

1.450

1.302

0.060

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

1.450

1.302

0.060

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

0.871

1.489

0.534

(c) Other current liabilities

1.632

9.799

4.011

(d) Short-term provisions

11.173

7.796

12.795

Total Current Liabilities (4)

13.676

19.084

17.340

 

 

 

 

TOTAL

106.863

97.094

81.595

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

16.069

12.334

5.012

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

13.801

9.191

9.127

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

29.870

21.525

14.139

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

36.796

31.025

23.488

(d) Cash and cash equivalents

14.387

25.729

26.033

(e) Short-term loans and advances

25.609

18.514

17.533

(f) Other current assets

0.201

0.301

0.402

Total Current Assets

76.993

75.569

67.456

 

 

 

 

TOTAL

106.863

97.094

81.595

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

126.596

169.518

107.162

 

 

Other Income

0.409

0.826

0.912

 

 

TOTAL                                    

127.005

170.344

108.074

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

104.595

150.042

70.446

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX           

22.410

20.302

37.628

 

 

 

 

 

Less

TAX                                                                 

7.381

7.789

12.666

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

15.029

12.513

24.962

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1502.90

1251.30

2496.20

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

11.87

7.38

23.29

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

20.97

20.91

46.12

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.26

0.59

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

5.63

3.96

3.89

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

0.100

0.100

0.100

Reserves & Surplus

64.095

76.608

91.637

Net worth

64.195

76.708

91.737

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

107.162

169.518

126.596

 

 

58.189

-25.320

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

107.162

169.518

126.596

Profit

24.962

12.513

15.029

 

23.29%

7.38%

11.87%

 

 

 

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

No

17]

Major suppliers

No

18]

Major customers

No

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

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

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

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

 

FINANCIAL RESUSTS:

 

During the financial year ended 31.03.2013 the Company has achieved a turnover of Rs.127.005 Millions due to heavy completion in the market, the Company could not achieve its target. Company has enough work orders in hand and the Management has expected the same trend in future.

 

 

FIXED ASSETS

 

·         Computers and Printers

·         Office Equipments

·         Air Conditioners

·         Refrigerator

·         Photo Copying Machine

·         Furniture and Fittings

·         Vehicles

·         Motor Cycle

 

 

CMT 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 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.62.10

UK Pound

1

Rs.97.32

Euro

1

Rs.77.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

HTL

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

7

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

52

 

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.