MIRA
INFORM REPORT
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Report Date : |
29.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNGER INDIA PRIVATE LIMITED |
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Registered Office : |
75-B, Plot No. 60, Sector 18, Huda, Gurgaon 122015, Haryana |
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Country : |
India |
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Date of Incorporation : |
14.08.2000 |
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Com. Reg. No.: |
107279 |
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CIN No.: [Company
Identification No.] |
U74899DL2000PTC107279 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKU00273A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Trader of Professional Cleaning Tools |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established Company having satisfactory track. The Company’s financials are missing from
the Government Department. Trade relations are reported as fair. Business is active. Payments are reported as usually correct
and as per commitments. The Company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
75-B, Plot No. 60, Sector 18, Huda, Gurgaon, Haryana 122015, India |
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Tel. No.: |
91-124-4101034/3/5 |
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Mobile No.: |
91-9213962731 |
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Fax No.: |
91-124-4101034/3 |
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E-Mail : |
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Website : |
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Area : |
3500 Sq. fts. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Hasmeeth Singh Uppal |
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Designation : |
Managing Director |
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Address : |
C – H/8, DLF City I, Gurgaon, Haryana |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Post Graduate |
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Date of Appointment : |
14.01.2003 |
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Name : |
Mr. Vikram Dhawan |
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Designation : |
Director |
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Address : |
86, Sector 17, Gurgaon, Haryana |
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Name : |
Mr. Jan Unger |
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Designation : |
Additional Director |
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Address : |
27, Petton Road, Norwalk, CT 06851, USA |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Post Graduate |
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Date of Appointment : |
14.01.2003 |
KEY EXECUTIVES
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Name : |
Mr. N. Srivastava |
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Designation : |
Key Executive |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shubhendra Nigam |
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20000 |
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Raja Gopalan |
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10000 |
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A. S. Johar |
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20000 |
BUSINESS DETAILS
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Line of Business : |
Importer and Trader of Professional Cleaning Tools |
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Exports : |
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Products : |
All Products |
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Countries : |
South Asian Countries |
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Imports : |
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Products : |
Raw Materials and Finished Goods |
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Countries : |
Ø USA Ø Germany Ø The United
Kingdom Ø China Ø Korea |
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Terms : |
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Selling : |
Cash, Credit and T/T [30 days to 90 days] |
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Purchasing : |
Cash and Credit [30 days to 60 days] |
GENERAL
INFORMATION
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Suppliers : |
Ø Unger Germany
GmbH Ø Unger France
SARL Ø Unger UK Limited Ø Unger
Enterprises Inc. [USA] |
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Customers : |
Ø Hotels Ø Hospitals Ø Airports Ø Railways Ø Manufacturers |
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No. of Employees : |
40 |
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Bankers : |
HDFC Bank Limited, DLF Gurgaon, Haryana Karnataka Bank, Sector 14, Gurgaon, Haryana |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
S. B. Dinodia Chartered Accountants |
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Address : |
Delhi |
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Associates/Subsidiaries : |
UNGER: U.S.A. Tel: 1.800.431.2324 Line
of Business: Manufacturer, Exporter, Importer, Trader and Assembling of Cleaning equipments. UNGER: GERMANY Tel: (49) 212.22.07.0 Line
of Business: Manufacturer, Exporter, Importer, Trader and Assembling of Cleaning
equipments. UNGER: UK Tel: (44) 01902 30 66 33 Line
of Business: Manufacturer, Exporter, Importer, Trader and Assembling of Cleaning equipments. UNGER: FRANCE Tel: (33) 1407.128.70 Line
of Business: Manufacturer, Exporter, Importer, Trader and Assembling of Cleaning equipments. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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450000 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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55.000 |
35.000 |
Expected Sales (2007-08): Rs.
75.000 Millions to Rs. 80.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
Ø
Airport Authority in Mumbai
Ø
Taj Hotels, Mumbai
AS PER WEBSITE DETAILS:
HISTORY
Subject
was founded in 1964 by Henry and Barbara Unger in the attic of the home of Barbara's
grandmother in Hamburg, Germany. While the original intent was to manufacture
window cleaning products, the company soon expanded its product line in order
to become the market leader in the Sanitary Supply and Retail Cleaning Fields.
Adopting this as the company's mission, Unger strives to produce high quality;
innovative tools that help professionals clean more productively and safely, as
well as offer superior customer service to both end-users and distributors.
Today,
Unger is an international company and has been manufacturing professional
cleaning tools for more than 40 years. It has offices in the United States,
Germany, the United Kingdom, as well as manufacturing facilities in the United
States, Germany and India. Unger now provides innovative cleaning solutions to
more than 80 countries worldwide.
Philosophy
From
the moment Unger was founded more than 40 years ago, it has endeavored to:
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Count its customers as its most important asset
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Produce quality cleaning tools designed to improve worker
efficiency and building sanitation
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Provide solutions that yield cleaner, healthier buildings
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To this day, the aims of the company are the same. Unger's
success is primarily due to bright, talented people who work well together
ensuring the company reaches its goals
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They support the Connecticut Chapter of the ALS Association
in memory of Henry Unger
Products: Wipers and Wind Screen
Ø Smart MOP Mopping System
Subject offers a range of cleaning systems.
Smart Mop Combo [small], an everything in one system, consists of :
1. Smart Mop Holder
2. Smart Mop Micro Mop
3. Ergo Pole
The system makes for efficient and hygienic moping of floors.
Ø Squeegees Window Cleaning Systems
Subject offers a range of Cleaning Systems.
The systems with squeegees have stainless steel channels complete with
hard rubber blade. The notched channel
system will not slip side to side, wobble or bend.
Ø Scraper Window Cleaning Systems
Subject offers a range of Cleaning Systems.
The window cleaning systems with scrapers come with safety stainless
steel scraper. Unique locking system
eliminates blades, from dangerously sliding out while working.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.44 |
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UK Pound |
1 |
Rs. 78.73 |
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Euro |
1 |
Rs. 57.69 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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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38 |
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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