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MIRA
INFORM REPORT
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Report Date : |
06.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
USHA
ENGINEERING SOLUTIONS (INDIA) |
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Registered Office : |
B-97,
1st Floor, Industrial Area, Sector – 64, Noida, Uttar Pradesh,
India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU02976B |
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PAN No.: [Permanent
Account No.] |
AABFV2993F |
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Legal Form : |
Sole
Proprietory concern |
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Line of Business : |
Subject
is engaged in the activity of consistency to board, pulp and paper mill and
rotary transmitters |
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/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is a small concern having moderate track. Trade relations are fair. No
payment records are available. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
B-97,
1st Floor, Industrial Area, Sector – 64, Noida, Uttar Pradesh,
India |
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Tel. No.: |
91-120-4259502 |
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Fax No.: |
91-120-4259503 |
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E-Mail : |
nilesh.ranjan@ushaengineeringsolutions.com |
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Website : |
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Area : |
2000
Sq ft. |
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Location : |
Rented |
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Head
Office: |
B-97,
11th Street, Indu Colony, Navagalallur, Chennai |
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Tel.
No.: |
91-44-22323628 |
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E-Mail
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Website : |
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Branch: |
8/2,
Center Sinthee Road, Kolkata – 50 |
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Tel.
No.: |
91-33-25325562 |
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E-Mail
: |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr
Nishesh Ranjan |
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Designation : |
Proprietor |
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Mobile No: |
91-9818977702 |
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Date of Birth/Age : |
33
years |
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Qualification : |
Bachelor
of Engineering |
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Date of Appointment : |
10
years |
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Name : |
Mr M K
Bhargav |
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Designation : |
Proprietor |
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Mobile No: |
91-9818476385 |
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Date of Birth/Age : |
35
years |
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Qualification : |
Bachelor
of Engineering |
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Date of Appointment : |
11
years |
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Name : |
Mr
Davender Bhandari |
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Designation : |
Proprietor |
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Mobile No: |
91-9871927871 |
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Date of Birth/Age : |
37
years |
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Qualification : |
Master
in Business Application |
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Date of Appointment : |
13
years |
BUSINESS DETAILS
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Line of Business : |
Subject
is engaged in the activity of consistency to board, pulp and paper mill and
rotary transmitters |
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Products : |
Transmitters
are used for consistency, density, level, pressure and temperature
measurements Optical
Sensor are used for concentration, total solid content, oil in water, water
in oil, fat in milk, cell growth in fermenter and electrical actuator. Bottling Plant Automation – Fill level, cap and lable
monitoring and rejects system – for beverages industry, distilleries and
breweries, pharmaceutical industry In- Line Optical Sensors – For content in milk/ phase
separation in breweries/ oil in water / water in oil/ concentration of
liquids/ slid contents in liquid In Line Biomass / Cell Growth Sensor – For Fermenter in
pharmaceutical industry, biotechnology and breweries. Control Systems Temperature
Controller, PID Controller, Electrical Actuators (for rotary and linear
valves) Timers
for packaging industry, cut to length monitoring system, (for polythene /
flexible packaging system.) Resistance
to current converters, Digital Panel Meters (DPM) Stepper
Motor Drives, Recorders Valves Sampling
valves – for exact sampling pf process fluids in chemical plants Remote
Operated Control Valve – strp motor based high precision, can control flow
upto 1 LPM also, with microprocessor base programmable control panel for
monitoring flow pf process fluid in chemical plants and paper mills Other Product Web
Break Detectors for paper mill – for paper break detection at press section /
dryer section/ before pope reel |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
Andhra
Bank, Preet Vihar, New Delhi – 110092 |
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Facilities : |
Rs
0.200 Millions form Andhra Bank, Preet Vihar, New Delhi – 110092 |
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Associates/Subsidiaries : |
Onexis
Automations Private Limited Company’s
turnover for 2006 – Rs 50.000 Millions Activity
: Company has similar activity to Usha Engineering Solutions (India) |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs
0.100 Millions |
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Borrowed : |
NA |
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Total : |
Rs
0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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15.000 |
10.000 |
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Profit/(Loss)
Before Tax |
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2.000 |
NA |
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Provision
for Taxation |
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1.200 |
NA |
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Profit/(Loss)
After Tax |
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0.800 |
NA |
Expected Sales Turnover (2008) – Rs 80.000
Million
LOCAL AGENCY
FURTHER INFORMATION
History
Usha
Engineering Solutions (India) started in 2003. Company wanted to convert into
Private Limited Company but Registrar of Companies refuse to registered with
the name Usha, then the company registered with the name Onexis Automations Private
Limited. Registered on : 17.11.2004, Registration No : 130573. Both the companies are 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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.09 |
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UK
Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.57.21 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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 |
NO |
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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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37 |
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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