MIRA INFORM REPORT
|
Report No. : |
320468 |
|
Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIMPLE DRUMS AND BARRELS PRIVATE LIMITED |
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|
|
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Registered
Office : |
516, Maker Chamber No. V, Nariman Point, Mumbai – 400021, Maharashtra |
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Tel. No.: |
91-22-22024130 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.12.1977 |
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Com. Reg. No.: |
11-020035 |
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Capital
Investment / Paid-up Capital : |
Rs.3.500 Millions |
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|
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CIN No.: [Company Identification
No.] |
U21020MH1977PTC020035 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD09966F / MUMD09304B |
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PAN No.: [Permanent Account No.] |
AAACD4604L / AAACD4604L |
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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 of container of the base metal and HMHDPE Container. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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
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
|
Name : |
Mr. Bharat Rathod |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-22-22024130 |
|
Date : |
02.05.2015 |
LOCATIONS
|
Registered Office : |
516, Maker Chamber No. V, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-2202413 / 22836623 / 22836624 |
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Fax No.: |
91-22-22836626 |
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E-Mail : |
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Website : |
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Corporate Office : |
117, Rajabahadur Mansion, 11, 3rd Floor, 24 – B, Ambala
Doshi Marg, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22656531 / 56311499 |
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Fax No.: |
91-22-22655708 |
|
|
|
|
Factory : |
Gulsande Village, Rasayani, District Raigad-410207, Maharashtra,
India |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Surendra Amritlal Kotadia |
|
Designation : |
Director |
|
Address : |
2/6, Karim Manor, 8, Krishna Sanghi Marg, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1948 |
|
Date of Appointment : |
17.12.1977 |
|
DIN No.: |
00464384 |
|
|
|
|
Name : |
Mr. Amit Hiralal Kotadia |
|
Designation : |
Director |
|
Address : |
I-106, Manjumahal-B, Pali Hill Road (E), Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
19.04.1954 |
|
Date of Appointment : |
26.06.1978 |
|
DIN No.: |
00464525 |
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|
|
|
Name : |
Mr. Dinesh Hiralal Kotadia |
|
Designation : |
Director |
|
Address : |
A 301/302 Accord Apartments, Dr. Charat Singh Colony, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1969 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
06465282 |
MAJOR SHAREHOLDERS
AS ON 25.09.2014
|
Names of Shareholders |
No. of Shares |
|
Surendra Kotadia |
625 |
|
Amit H Kotadia |
849 |
|
Kamod A. Kotadia |
250 |
|
Chameli A. Kotadia |
250 |
|
Indrabala A. Kotadia |
150 |
|
Suryakant H. Kotadia |
324 |
|
Avani H. Kotadia |
174 |
|
Saroj H. Kotadia |
224 |
|
Niranjana H. Kotadia |
174 |
|
Trupti S. Kotadia |
100 |
|
Balam Investment Company Private Limited |
1 |
|
Rajesh H. Kotadia |
130 |
|
Dinesh H. Kotadia |
125 |
|
Sanjay Kotadia |
124 |
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|
|
|
TOTAL |
3500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
0.03 |
|
Directors or relatives of Directors |
99.97 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of container of the base metal and HMHDPE Container. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque, Credit |
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Purchasing : |
Cheque, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H. N. V. Trivedi and Company Chartered Accountants |
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Address : |
401, Omkar Prarthana, Opposite Vijay Nagar Hall, S N Marg, Andheri (East), Mumbai, Maharashtra, India |
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PAN No.: |
AABPT1754B |
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Membership : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500 |
Equity Shares |
Rs.1000/- each |
Rs.3.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500 |
Equity Shares |
Rs.1000/- each |
Rs.3.500 Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.500 |
3.500 |
3.500 |
|
(b) Reserves & Surplus |
1594.366 |
1452.248 |
1322.398 |
|
(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) |
1597.866 |
1455.748 |
1325.898 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.450 |
2.217 |
2.588 |
|
(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) |
2.450 |
2.217 |
2.588 |
|
|
|
|
|
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(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
66.610 |
74.794 |
33.344 |
|
(c) Other
current liabilities |
6.041 |
7.186 |
5.294 |
|
(d) Short-term
provisions |
4.094 |
4.095 |
0.000 |
|
Total Current
Liabilities (4) |
76.745 |
86.075 |
38.638 |
|
|
|
|
|
|
TOTAL |
1677.061 |
1544.040 |
1367.124 |
|
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|
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
|
|
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
37.674 |
40.686 |
42.974 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
15.036 |
0.000 |
1.756 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.049 |
6.049 |
6.049 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
43.574 |
56.448 |
40.808 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
102.333 |
103.183 |
91.587 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
176.500 |
160.794 |
182.500 |
|
(b)
Inventories |
123.938 |
51.931 |
96.903 |
|
(c) Trade
receivables |
341.348 |
274.832 |
283.309 |
|
(d) Cash
and cash equivalents |
855.866 |
894.756 |
666.198 |
|
(e) Short-term
loans and advances |
15.618 |
10.981 |
5.435 |
|
(f) Other
current assets |
61.458 |
47.563 |
41.192 |
|
Total
Current Assets |
1574.728 |
1440.857 |
1275.537 |
|
|
|
|
|
|
TOTAL |
1677.061 |
1544.040 |
1367.124 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
1158.574 |
993.148 |
1051.169 |
|
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|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
224.428 |
198.748 |
223.191 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.532 |
6.187 |
6.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
218.896 |
192.561 |
217.001 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
70.833 |
58.617 |
69.425 |
|
|
|
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|
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|
|
|
PROFIT/(LOSS)
AFTER TAX |
146.214 |
133.944 |
147.576 |
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1438.773 |
1322.318 |
1174.742 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
14.621 |
13.394 |
0.000 |
|
|
|
Proposed Dividend |
3.500 |
3.500 |
0.000 |
|
|
|
Dividend Distribution Tax on Proposed Dividend |
0.595 |
0.595 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1566.271 |
1438.773 |
1322.318 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41775.43 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.22 |
12.52 |
15.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.13 |
0.16 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
20.52 |
16.74 |
33.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
3.500 |
3.500 |
3.500 |
|
Reserves & Surplus |
1322.398 |
1452.248 |
1594.366 |
|
Net
worth |
1325.898 |
1455.748 |
1597.866 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross Income |
1051.169 |
993.148 |
1158.574 |
|
|
|
(5.520) |
16.657 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross Income |
1051.169 |
993.148 |
1158.574 |
|
Profit |
147.576 |
133.944 |
146.214 |
|
|
14.04% |
13.49% |
12.62% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
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 |
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 |
NO CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
·
Office Equipment
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.63.57 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.