MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
UNIPAVE ENGINEERING PRODUCTS |
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Formerly Known as: |
UNITOR ENGINEERING PRODUCTS |
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Registered Office : |
254 / 1, Sureliya Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1973 |
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Com. Reg. No.: |
GUJ / AMS / 3416 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMU00213D |
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PAN No.: [Permanent
Account No.] |
AAAFU4382P |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer of Paver Finishers |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 81504 |
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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 relatively small concern having satisfactory track.
Partners are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
254 / 1, Sureliya Estate, |
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Tel. No.: |
91-79-22870983 / 84 / 85 |
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Mobile No.: |
91-9426058033 |
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Fax No.: |
91-79-22892784 |
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E-Mail : |
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Website : |
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Area : |
16514.28sq.fts |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Sanjaybahia Hansrajbhai Sureliya |
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Designation : |
Partner |
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Address : |
Rajhanshe Vakilwadi, Nr. L.G. Hosiptal, Maninagar, Ahmedabad |
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Name : |
Mr. Hansrajbhai Jivanlal Sureliya |
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Designation : |
Director |
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Address : |
Rajhanshe Vakilwadi, Nr. L.G. Hosiptal, Maninagar, Ahmedabad |
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Name : |
Mr. Jitendrabhai Hansrajbhai Sureliya |
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Designation : |
Director |
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Address : |
Rajhanshe Vakilwadi, Nr. L.G. Hosiptal, Maninagar, Ahmedabad |
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Name : |
Mr. Prafulchandra Hansrajbhai Sureliya |
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Designation : |
Director |
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Address : |
28, Radha Krishna Villa, Jaymala Bus Stand, Isanpur, Ahmedabad |
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Name : |
Mr. Animeshbahi Chamanlal Sureliya |
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Designation : |
Director |
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Address : |
41 / B, Vakilwadi, |
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Name : |
Mr. Manjulaben Chimanlal Sureliya |
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Designation : |
Director |
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Address : |
41 / B, Vakilwadi, |
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Name : |
Mr. Bipinbhai Kantilal Sureliya |
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Designation : |
Director |
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Address : |
A 1, Nidhi Appartment, Opp. Punita Ashram, Nr. Ramji Mandir,
Maninagar, Ahmedabad |
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Name : |
Mr. Kntilal Jivanlal H.U.F. |
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Designation : |
Director |
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Address : |
2 / A, Rajendra Par, B / h., |
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Name : |
Mr. Sunilbhai Kantilal Sureliya |
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Designation : |
Director |
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Address : |
2 / A, Rajendra Par, B / h., |
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Name : |
Mr. Vallabhdas Jivanlal H.U.F. |
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Designation : |
Director |
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Address : |
Jivan Jyoti Khadayata Society, B / h. Balwatika, Maninagar, Ahmedabad |
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Name : |
Mrs. Neelaben Shaileshbhai Sureliya |
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Designation : |
Director |
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Address : |
Jivan Jyoti Khadayata Society, B / h. Balwatika, Maninagar, Ahmedabad |
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Name : |
Mr. Smitaben Rajivbhai Sureliya |
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Designation : |
Director |
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Address : |
Jivan Jyoti Khadayata Society, B / h. Balwatika, Maninagar, Ahmedabad |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Paver Finishers. |
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Products : |
Ř
AUTOPAVE -
175 Ř
ESP 05 Ř
ESP 04 Ř
UWM 05 Ř
UAP 04. Ř
Ready mix concrete
batching plant Ř
Mobile
concrete batching plant |
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Brand Names : |
UNI PAVE |
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Exports : |
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Products : |
Asphalt Paver Finisher |
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Countries : |
Africa, |
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Imports : |
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Products : |
Hudrauhc Pumps, Motors Sensor |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Different kinds of Asphalt Paver Finisher |
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per month / 50
no. of machines |
GENERAL INFORMATION
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Customers : |
Ř
End Users Ř
Skanska
Cementation Pvt. Ltd. Ř
HCC - B.G. Shrike – JV Ř
ECSB – JSRC – JV Ř
Dodsal Limited. Ř
Gammon –India Ltd. Ř
JayPrakash Industries Ltd. Ř
Simplex Concrete Piles (I) Ltd. Ř
Bhagiratha Engg Ltd. Ř
JMC Projects (I) Ltd. Ř
Gannon Dankerly & Co. Ltd. Ř
Progressive Constn Pvt Ltd. Ř
Backbone Projects Ltd. Ř
Backbone Projects Limited. Ř
Subhash Projects and Mktg Ltd. |
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No. of Employees : |
65 (15 Office, 50 Factory) |
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Bankers : |
UTI Bank Limited Maninagar Branch Union Bank of Maninagar Branch |
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Facilities : |
C/C, D/D and L/C |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Ř Surelia Engineering Work Ř Unipave Engineering Products Ř Unisteel Engineering Works Ř United Machine Tools, Ř Unicon Engineering Ř
United
Construction Equipments. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.376 millions |
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Borrowed : |
-- |
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Total : |
Rs.20.376 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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20.376 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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20.376 |
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LOAN FUNDS |
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1] Secured Loans |
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2.219 |
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2] Unsecured Loans |
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2.719 |
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TOTAL BORROWING |
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4.938 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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25.314 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.366 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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12.362 |
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Sundry Debtors |
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17.787 |
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Cash & Bank Balances |
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1.969 |
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Other Current Assets |
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5.660 |
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Loans & Advances |
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0.198 |
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Total
Current Assets |
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37.976 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.250 |
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Provisions |
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0.778 |
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Total
Current Liabilities |
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16.028 |
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Net Current Assets |
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21.948 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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25.314 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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72.471 |
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Other Income |
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5.242 |
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Total Income |
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77.713 |
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Imports : |
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Raw Materials |
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48.563 |
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Others |
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6.653 |
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Total Imports |
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55.216 |
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Expenditures : |
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Administrative Expenses and Selling Expenses |
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10.827 |
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Interest |
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1.364 |
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Depreciation & Amortization |
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0.453 |
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Total Expenditure |
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12.644 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.78 |
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Current Ratio (Current Asset/Current Liability) |
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2.36 |
LOCAL AGENCY FURTHER INFORMATION
Website Details
Attached:
Company Details:
Subject, formerly
Unitor Engineering Products, was incorporated in 1973 with the prime objective of
manufacturing unique, versatile import substitute Paver Finisher Machines
indigenously, at par with the international standards and specifications. they
are an unmatched manufacturer,
exporter and supplier of
Road and Construction
Machines such as crawler mounted paver, etc. With a strong
financial arm, they are different from their competitors and are ahead of them
in quality, technology and dedication. In fact, Unipave is the first Indian
Company to have manufactured crawler mounted paver which can lay roads up to 9
mtrs., at a stretch.
They are equipped with the required infrastructure, expertise and
capacity to undertake huge orders, in tune with the business dynamics. The
secret of their success lies in its proactive and responsive attitude to its clients'
needs with flexibility for adjustment in the fast changing scenario. Their
experienced and proficient team is always on its toes, studies and understands
the customer's requirements, blends them with its expertise and technical
knowledge and offers them the better-than-the-best machines for consistent and
maximum output.
The
They are
dreaming to emerge as a leader in the wider business area of road and
construction machines by fully capitalizing their expertise, know-how,
technology and dedication.
Quality
For them "quality
is never an accident; it is always the result of high intention, sincere
effort, intelligent direction and skillful execution".
Being an ISO
9001:2000 certified company, quality is the topmost priority for them. The machines
manufactured by them are passed through several quality control checks at
different stages of manufacture. They also lay special emphasis on the
procurement of the raw material to ensure flawless manufacturing process.
Innovation through continuous research, quick adoption of the state-of-the-art
advanced technology and constant upgrade of each application is a continuous
process and a way of life at Unipave Engineering Products.
Infrastructure
They are empowered with an effective and sound infrastructure to
back their operations effectively and efficiently. They have hardworking and
highly devoted workforce equipped with hi-tech machines to manufacture world
class products. All the machineries used in the manufacturing process are kept
under the vigilance of proficient technocrats. Their commitment for excellence
and zealous efforts are the pillars of their potential to lead from the front.
Their wide distribution network of suppliers and distributors ensure the
customers of safe, smooth and prompt delivery of products.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.30 |
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1 |
Rs.82.97 |
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Euro |
1 |
Rs.55.64 |
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 |
7 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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58 |
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 |
|
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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