MIRA
INFORM REPORT
|
Report Date : |
09.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
UNI
TECH |
|
|
|
|
Registered Office : |
10TH
Main, Kala Nagar, Kammagondanahalli, Bangalore – 560015, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
1996 |
|
|
|
|
Legal Form : |
Sole
Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturers
of wrought iron furniture / high racking systems / gondolas / slotted
channels and brackets / brackets and shelving systems for hypermarkets and
supermarkets/ gift/ toys and garments stores/ stainless steel M. S. wood and glass
combination |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
10000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Slow
but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established concern having satisfactory track. it’s payments are
reported as slow but correct. Trade relations are fair. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office / Factory
: |
10TH
Main, Kala Nagar, Kammagondanahalli, Bangalore – 560015, Karnataka, India |
|
Tel. No.: |
91-80-28388831 |
|
Mobile No.: |
91- 9845208710 |
|
Fax No.: |
91-80-28380983 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Leased
|
|
Location : |
3000
sq. ft. |
SOLE PROPRIETOR
|
Name : |
Mr. Jaison
|
|
Designation : |
Proprietor
|
|
Date of Birth/Age : |
43
Years |
|
Qualification : |
Diploma
Holder |
|
Experience : |
25
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of wrought iron furniture / high racking systems / gondolas / slotted
channels and brackets / brackets and shelving systems for hypermarkets and
supermarkets/ gift/ toys and garments stores/ stainless steel M. S. wood and
glass combination |
|
|
|
|
Products : |
Wrought Iron
Furniture High Racking Systems
Gondolas Slotted Channels
& Brackets |
|
|
|
|
Terms : |
|
|
Selling : |
Mostly
against Delivery |
|
|
|
|
Purchasing : |
Local
Purchase 30 to 90 days |
GENERAL
INFORMATION
|
Suppliers : |
Swasthic
Metal – Bangalore Shankara
Pipes Limited – Bangalore Vinayaka
Traders – Bangalore |
|
|
|
|
Customers : |
Metro Cash and Carry – Bangalore / Hyderabad Madura Garments – Bangalore Arvind
Brands Indus League
Metro Cash & Carry India Private Limited Joy
Allukas Trading India Private Limited Seematti
Ayyappas Textiles Kalyan
Silks Jayalakshmi
Silks Shoppers
Stop |
|
|
|
|
No. of Employees : |
15 |
|
|
|
|
Bankers : |
Citi
Bank, N. A. M. G.
Road, Bangalore - 560001 |
|
|
|
|
Facilities : |
Rs.
2.500 Millions |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Dinesh
Chartered
Accountant Bangalore
|
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
2.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2007 [Projection] |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
10.000 |
5.400 |
4.400 |
|
|
|
|
|
Net Profit
indicated @ 20 %
LOCAL AGENCY
FURTHER INFORMATION
Subject contemplating moving to a new location at close proximity
[12th Main shortly].
Incorporated in 1996, they are pleased to introduce
their selves as one of the fore runners involved in the manufacturing and
insulation of office, residential and commercial interiors, i.e., racking
system for Supermarkets and Hypermarkets, with the combination of Mild Steel,
Stainless Steel, Wood and Glass. A pioneer in the manufacturing industrial
applications, they have the facilities as well the experience & expertise
to provide custom and complete solutions for interior and infrastructural
needs. They specialize in the designing & manufacturing of custom made
wrought iron furniture for officers and residential purposes. They do
requirement analysis custom design solution, manufacture, installation and
maintenance of all furniture and fixtures.
Features of their Products
Flexibility: Their products are very durable and
easy to install, dismantle and reassemble according to the needs.
Quality: Quality of their products is controlled at all levels of
production by their qualified staff, to ensure defect free products.
Durability: One of the major attraction of their products and the most
preferred feature by their prestigious clients is, durability and rigidity to
withstand everyday wear and tear, keeping in mind aesthetics and the value of
the products to be displayed.
Price & Style: Their products are most cost-effective. The fact,
which endorses this, is their group of experienced designers who put their
skills together to give you the end product with stints of ethnic touch and
international standards and quality.
Quality Policy
At Unitech, they are constantly guided by their commitment to design,
manufacture, install and maintain infrastructure and interior solutions using
good skill, quality raw materials, effective people and above all, prompt
delivery to excel in all parameters of customer satisfaction.
Their Strength
Located in a prime industrial area, their manufacturing facility covers
a plinth area of 2500 sq.ft. of shop floor, and 500 sq.ft. of office area, with
connected power of 35HP and with all infrastructures, including dedicated,
technically qualified and devoted force of employees to handle all kinds of
sophisticated fabrications and constructions of all interior requirements.
The mainstay of Unitech - their designers and
workforce are having high-level skill set to produce world-class interior and
infrastructure solutions. Their engineers use CAD/CAM to design optimized
infrastructure and interior for the Office / Store/ Residence. They are well
equipped with modern state of art of engineering skill, state of the art
machineries to meet the requirements.
Research & Development
The key to their progress has been the continuous R&D Program in process,
improvements and new product developments, design and manufacture of special
purpose machines for in-house requirements and special products.
Company Profile
|
Business Type |
Manufacturer |
|
No of Staff |
15 |
|
Year of Establishment |
1996 |
|
No of Production Lines |
1 |
|
Investment on Manufacturing Equipment |
1.0 Millions |
|
OEM Service Provided |
Yes |
|
No of Engineers |
2 |
|
Monthly Production Capacity |
3.0 Millions |
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.44.06 |
|
UK
Pound |
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.57.46 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
TOTAL |
|
43 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|