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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

494084

Report Date :

01.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

DAKSH QUALITY SYSTEMS PRIVATE LIMITED

 

 

Registered Office :

450, 3rd Floor Vikram Tower, Indore – 452001, Madhya Pradesh

Tel. No.:

91-9893067158 [Mr. Naresh Kumar Sinhag]

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

25.08.2011

 

 

Com. Reg. No.:

10-026632

 

 

Capital Investment / Paid-up Capital :

INR 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U31900MP2011PTC026632

 

 

IEC No.:

[Import-Export Code No.]

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

GSTN :

[Goods & Service Tax Registration No.]

23AAECD3938R1Z7

 

 

PAN No.:

[Permanent Account No.]

AAECD3938R

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturing of parts and accessories for machines, appliances, instruments, apparatus, systems and equipment for industrial, commercial, banking, scientific, medical, statistical or any other purpose. [Registered activity and also confirmed by management]

 

 

No. of Employees :

9 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2011 having moderate track record. It is engaged as manufacturer and exporter of metallurgical microscope, micro hardness testers, spectrometers, etc.

 

Management has not filed its financials with Registrar of Companies after the year 2015.

 

As per available financials of March 2015, the general financial position of the company is marked by very weak net worth base and high solvency level.

 

Further rating gets constrained on account of non-availability of latest financials and its small scale of its business operations.

 

However, Mr. Naresh Kumar Sihag (Director) provided information and claimed that the subject has achieved revenue of INR 7.000 Million for FY-2016 and INR 8.000 Million for FY-2017. (Figures not verified).

 

Payments seems to be slow.

 

In view of aforesaid, the company can be considered for business dealings with fully safe and secured 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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 31-03-2016.

 

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 01.03.2018.

 

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Naresh Kumar Sihag

Designation :

Director

Contact No.:

91-9893067158

Date :

27.02.2018

 

 

LOCATIONS

 

Registered Office :

450, 3rd Floor Vikram Tower, Indore – 452001, Madhya Pradesh, India

Tel. No.:

91-217-650158

Mobile No.:

91-9893067158 [Mr. Naresh Kumar Sinhag]

Fax No.:

Not Available

E-Mail :

ns@mydaksh.com

Website :

http://www.mydaksh.com

 

 

Head Office / Branch :

Daksh Bhavan, Plot No.12, Sector-B, Shiv-Dham Colony, Behind Queens College, Khandwa Road, Indore – 452017, Madhya Pradesh, India

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Naresh Kumar Sihag

Designation :

Director

Address :

41-A, Brij Nayni Colony Khandwa Road, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

25.03.1978

Date of Appointment :

25.08.2011

DIN No.:

03415772

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U31900MP2011PTC025343

DAKSH EQUIPMENTS & ENGINEERING PRIVATE LIMITED

08/02/2011

-

 

 

Name :

Mr. Anil Kumar Sihag

Designation :

Director

Address :

41-A, Brij Nayni Colony Khandwa Road, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

19.01.1982

Date of Appointment :

25.08.2011

DIN No.:

03595359

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2015

 

Names of Shareholders

 

No. of Shares

Naresh Kumar Sihag

 

5000

Anil Kumar Sihag

 

5000

 

 

 

Total

 

10000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2015

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of parts and accessories for machines, appliances, instruments, apparatus, systems and equipment for industrial, commercial, banking, scientific, medical, statistical or any other purpose. [Registered activity and also confirmed by management]

 

 

Products :

Item Code No.

Product Description

90330000

Machines Appliances Instruments

 

  • Metallurgical Microscope
  • Micro Hardness
  • Testers
  • Spectrometer

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :

  • China
  • Japan

 

 

Imports :

 

Products :

Raw Material

Countries :

Gulf Countries

 

 

Terms :

 

Selling :

Advance Payment, L/C, Cheque and Credit

 

 

Purchasing :

Advance Payment, L/C, Cheque and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

9 (Approximately) 

 

 

Bankers :

Bank Name

ICICI Bank Limited

Branch

--

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

 

Auditors :

 

Name :

Anil Om Prakash Gupta and Company

Chartered Accountants

Address :

426, Vikram Tower, Sapna Sangita Road, Indore – 452001, Madhya Pradesh, India

Tel. No.:

91-731-2405891

Mob. No.:

91-9826015980

E-Mail :

ca_anilkgupta@rediffmail.com

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

AFHPG8403P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

0.100

0.100

(b) Reserves & Surplus

 

0.010

(0.018)

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

0.110

0.082

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.001

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

0.000

0.001

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

0.552

1.275

(c) Other current liabilities

 

0.000

0.000

(d) Short-term provisions

 

0.024

0.018

Total Current Liabilities (4)

 

0.576

1.293

 

 

 

 

TOTAL

 

0.686

1.376

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

0.022

0.033

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.001

0.000

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

0.023

0.033

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

0.363

1.128

(c) Trade receivables

 

0.249

0.165

(d) Cash and cash equivalents

 

0.032

0.024

(e) Short-term loans and advances

 

0.000

0.000

(f) Other current assets

 

0.019

0.026

Total Current Assets

 

0.663

1.343

 

 

 

 

TOTAL

 

0.686

1.376

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Income

 

2.932

1.123

 

Other Income

 

 0.000

0.000 

 

TOTAL

 

2.932

1.123

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

 

1.702

0.091

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

0.765

0.663

 

Employees benefits expense

 

0.285

0.240

 

Other expenses

 

0.142

0.118

 

TOTAL

 

2.894

1.112

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

0.038

0.011

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

0.000

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

0.038

0.011

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

0.012

0.008

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

0.026

0.003

 

 

 

 

 

Less

TAX

 

(0.001)

0.001

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

0.027

0.002

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 2.70

0.20 

 

 

Particulars

 

 

31.03.2017

31.03.2016

Sales Turnover [Approximately]

 

8.000

7.000

 

 

 

 

 

Expected Sales (2017-2018) : INR 10.000 Million

 

The above information has been parted by Mr. Naresh Kumar Sihag (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2015

31.03.2014

Current Maturities of Long term debt

 

NA

NA

Cash generated from operations

 

NA

NA

Net cash flow from operating activity

 

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

 

31.00

53.63

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

 

11.78

6.81

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

 

118.38

5114.01

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

 

0.10

0.01

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

 

1.73

0.33

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

0.84

0.94

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

0.00

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

5.24

15.77

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

0.20

0.40

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

 

0.92

0.18

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

 

3.94

0.15

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

 

24.55

2.44

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

 

1.15

1.04

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

0.52

0.17

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

0.16

0.06

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

0.00

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

1.15

1.04

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2014

31.03.2015

 

INR In Million

INR In Million

Share Capital

0.100

0.100

Reserves & Surplus

(0.018)

0.010

Net worth

0.082

0.110

 

 

 

long-term borrowings

0.000

0.000

Short term borrowings

0.000

0.000

Total borrowings

0.000

0.000

Debt/Equity ratio

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

 

INR In Million

INR In Million

Sales

1.123

2.932

 

 

161.086

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

 

INR In Million

INR In Million

Sales

1.123

2.932

Profit

0.002

0.027

 

0.18%

0.92%

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

No

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last two years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

  • Furniture and Fitting
  • Electric Fitting
  • Computer and Data Processing Unit
  • Computers

 

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 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

INR

US Dollar

1

INR 64.85

UK Pound

1

INR 90.58

Euro

1

INR 79.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAV

 

 

Analysis Done by :

NIS

 

 

Report Prepared by :

JYO


 

SCORE FACTORS

 

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

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

 

 

 

 

 

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.