MIRA
INFORM REPORT
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Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE FIBRE PLAST PRIVATE LIMITED |
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Registered Office : |
Shop No. 418, Bhim Nagar, Near S. S. Industries, Opp Rabale Lake, MIDC
Rabale, Navi Mumbai – 400 701, Maharashtra |
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Country : |
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Date of Incorporation : |
16.06.2005 |
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Com. Reg. No.: |
11-154023 |
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CIN No.: [Company
Identification No.] |
U25209MH2005PTC154023 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of FRP, PVC, PP, PVDF, FRB, FRVE, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and has yet to establish track. No financials
are available. No payments records are known. The company can be considered for
small business dealings on safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
Shop No. 418, Bhim Nagar, Near S. S. Industries, Opp Rabale Lake, MIDC
Rabale, Navi Mumbai – 400 701, Maharashtra, India |
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Tel. No.: |
91-22-27699003 |
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Mobile No.: |
91-9821065301/ 9324649591 |
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Fax No.: |
91-22-27699003 |
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E-Mail : |
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Website : |
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Area : |
4000 sq. fts. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. B. Manoharan |
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Designation : |
Director |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Diploma in Engineering |
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Experience : |
20 Years |
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Name : |
Mrs. Mauli Manoharan |
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Designation : |
Director |
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Date of Birth/Age : |
36 Years |
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Qualification : |
B. Pharma |
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Name : |
Mr. Raju Pankiyar |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of FRP, PVC, PP, PVDF, FRB, FRVE, etc. |
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Products : |
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Terms : |
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Selling : |
On Cheque basis |
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Purchasing : |
Credit upto 30-60 days and
Cheque basis |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
About 16 |
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Bankers : |
Corporation Bank Airoli Branch, Mumbai, |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Pai and Company Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
As the subject is a new company no financials are available.
Management remained non-cooperative during current investigation.
Expected Sales (2007-08) : Rs. 2.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- RPG
Lifescience
- Aerovent
Projects Private Limited
- Wyeth
Laboratories Private Limited
- Lupin Agro
Chemicals Limited
- Keramandal
Fertilizers Limited
- McClell and
Engineering Private Limited
As Per Web :
Profile
Subject leverages its experise and industry knowledge to manufacture and export high quality products. Based in Navi Mumbai (India), they have carved a niche in Manufacture and supply of high quality plastic equipment including : Storage Tanks,HDPE Storage Tank, Chemical Storage Tanks,Chemical Reaction Vessels, etc. Their products are highly in demand due to their quality and peak performance.
Assurance
They follow stringent quality measurement to meet global quality standards in all their products. Entire manufacturing process is carefully watched and the finished products are tested for quality in their in-house laboratory to ensure high quality.
Team
They are empowered by a team of highly qualified
professionals. Their engineers and technocrats excel in their penchant for
innovation they constantly strive to offer products with a difference.
- Fumes Scrubbing Systems
- Industrial Centrifugal Blowers
- Hoods &
Covers
- Tanks/ Vessels/ Trays
- Auto Parts & Components
- FRP Sign Boards / Marker Plates
- Lining
and Cotting
Customers
- Aerovent Projects Private Limited, Mumbai
- Plasto Chem Fabrication Private Limited,
Trombay
- Hydroair Tectonics Private Limited, Vashi
- Reliance Silicones India Limited, Mumbai
- Span Chemicals, Rabale
- Malgonkar Reflective Sign Private Limited,
Rabale
- Wyeth Laboratories Limited, Mumbai
- Cristal Industrial Syndicate, Navi Mumbai
- AV Industrial Plastic Corporation, Nerul
- Lupin Agro Chemicals Limited, Panoli,
- Kvaerner Power Gas, Mumbai
- Convetech Engineering, Rabale
- E.I.D. Parry (
- Laporte Piramal Organics Limited,
- Chemro Inspection Private Limited, Mumbai
- Multidimensional Engineers (
- Navi Mumbai Municipal Corporation
- S. P. Fabrication Limited, Rabale
- Mc Clelland Engineers Private Limited,
Navi Mumbai
- Satyam Pharma Chem Private Limited, Rabale
- S. P. Archi Techtural Coating Limited,
Rabale
- Natasha Industries, Navi Mumbai
- Vikram Ispat Salav, Raigad
- Radiant Engineering Manufacturing Work,
Mumbai
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.67 |
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1 |
Rs.82.12 |
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Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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14 |
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. |
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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