MIRA
INFORM REPORT
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Report Date : |
6th
November, 2006 |
IDENTIFICATION
DETAILS
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Correct Name : |
UNITED
TRADING CORPORATION |
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Registered Office : |
441,
442, 443, Inside Crawford Market, Mumbai – 400 001, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1950 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU04462D |
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PAN No.: [Permanent
Account No.] |
AAAFU0420A |
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Legal Form : |
Partnership
Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer
of Blue Bird brand of Custard Powder, Jelly, Baking Powder, Corn Flour, Dry
Yeast, Icing Sugar, Instant Pudding, Kulfi Mix, Drinking Chocolate, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
15000 |
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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 concern having satisfactory track. Partners are
experienced, respectable and resourceful businessmen. Their trade relations
are fair. Payment are usually correct and as per commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
441,
442, 443, Inside Crawford Market, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-23400153/
23442568 |
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Fax No.: |
91-22-23438492 |
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E-Mail : |
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Website : |
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Area : |
1500
sq. ft. |
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Location : |
Rented
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Factory
1 : |
6/22,
Jogmi Industrial Estate, Chunabhatti (East), Mumbai – 400 022, Maharashtra,
India |
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Area : |
6000
sq. ft. |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr.
Anantrai S Shah |
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Designation : |
Partner
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Date of Birth/Age : |
70
Years |
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Qualification : |
Undergraduate
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Experience : |
45
Years |
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Name : |
Mr.
Ketan Shah |
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Designation : |
Partner
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Date of Birth/Age : |
42
Years |
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Qualification : |
Graduate
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Experience : |
18
Years |
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Name : |
Mr.
Manish Shah |
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Designation : |
Partner
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Date of Birth/Age : |
38
Years |
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Qualification : |
Graduate
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Experience : |
15
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Blue Bird brand of Custard Powder, Jelly, Baking Powder, Corn Flour, Dry
Yeast, Icing Sugar, Instant Pudding, Kulfi Mix, Drinking Chocolate, etc. |
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Products : |
¯
Custard
Powder ¯
Jelly ¯
Baking
Powder ¯
Corn
Flour ¯
Dry
Yeast ¯
Icing
Sugar ¯
Instant
Pudding ¯
Kulfi
Mix ¯
Drinking
Chocolate |
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Brand Names : |
‘BLUE
BIRD’ |
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Exports to : |
Africa
and Latin America |
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GENERAL
INFORMATION
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Customers : |
¯
Wholesalers
¯
Retailers
¯
Department
Stores ¯
Restaurant ¯
Hotel
Canteen |
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No. of Employees : |
About
50 |
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Bankers : |
¯
Central
Bank of India
Crawford Market Branch, Mumbai, Maharashtra, India ¯
HDFC
Bank Limited
Mumbai, Maharashtra, India. |
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Banking Relations : |
Satisfactory
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Auditors : |
Not
Available |
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Sister Concerns : |
United Agro Industries Surat,
Gujarat, India --Line
of Business: manufacturer of Pastas
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
2.000 millions (Estimated) |
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Borrowed : |
Rs.
2.000 millions (Estimated) |
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Total : |
Rs.
4.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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40.000 |
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Profit/Loss for the year |
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NA |
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Export Value |
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2.000 |
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LOCAL AGENCY
FURTHER INFORMATION
Profile
Blue Bird, the taste that lingers on the tongue of the satisfied customers was started as a small household business. The company was founded by brothers Gambhirdas Shah and Anantrai Shah way back in 1950's as "United Trading Corporation". The firm then dealt in just the import of food products
Post-independence, government of India banned the import of food products. The company decided to produce the very products in India itself, to satisfy the growing customer demand thus, evolved the brand "Blue Bird". Even in those early days of lack of resources and technology no compromises were made in the quality. Only the best available ingredients were used for the production and the tradition still follows. "Blue Bird" as a brand has achieved which only a few brands have achieved i.e. the quality compatible to the imported products.
It is surprising to look at the market "bluebird" has captivated without any formal advertising as such. The satisfied customers and the mouth to mouth publicity is the advantage that has made it a brand meant for the masses and the classes. Today it enjoys a monopoly for icing sugar, self-raising flour, castor sugar, demerara sugar, etc.
With an array of over 20 products to choose from "Blue Bird" is constantly mailing innovation in the existing products and successfully launching new products, the latest being "pure veg. jelly crystals" and “Crystal free Ice-cream Powder." Blue Bird understands the value of your money and that's the reason it gives you the best quality products. The Company is looking forward to venture in exports and strives to maintain the quality for which it has always been known.
Product Range
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Baking
Powder
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Citric
Acid
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Corn
Flour
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Damerara
Sugar
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Dry
Yeast
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Icing
Sugar
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Instant
Pudding
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Kulfi
Mix
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Self-Raising
Flour
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Castor
Sugar
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Cocoa
Powder
¯
Custard
Powder
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Drinking
Chocolate
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Ice
Cream Mix
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Instant
China Grass
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Jelly
Crystals
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Maida
Super Sifted Flour
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Test-Mi-Nov
Contact
441,
442, 443, Inside Crawford Market, Mumbai – 400 001, Maharashtra, India
Tel.
No.: 91-22-23400153/ 23442568
Fax No.:
91-22-23438429
Email : info@bluebirdindia.com
Website
: http://www.bluebirdindia.com
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 records 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
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.84 |
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UK
Pound |
1 |
Rs.85.55 |
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Euro |
1 |
Rs.57.28 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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48 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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