MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
UDAY STRUCTURALS AND ENGINEERS |
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Registered Office : |
602 – 603, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers , Exporter and supplier of Slab Support System,
Wedgelock Scaffoldings, Cuplock Scaffoldings, H – Frame Systems, Tube
Fittings, Span and props , Panel and Custom made Formworks |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 120000 |
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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 a well-established and reputed concern having satisfactory
track. Proprietor is reported as
experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
602 – 603, |
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Tel. No.: |
91-22-28391427 / 66922840 / 66922839 |
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Mobile No.: |
91-9870595050 |
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Fax No.: |
91-22-66922839 -40 |
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E-Mail : |
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Website : |
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Area : |
950 Sq. fts |
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Location : |
Owned |
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Factory 1 : |
Tarapur, Thane, |
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Area : |
60000 Sq. fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Uday K Patil |
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Designation : |
Proprietor |
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Mobile No.: |
91-9870595050 |
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Date of Birth/Age : |
42 years |
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Qualification : |
B. E. Mechanical |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers , Exporter and supplier of Slab Support System,
Wedgelock Scaffoldings, Cuplock Scaffoldings, H – Frame Systems, Tube
Fittings, Span and props , Panel and Custom made Formworks |
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Products : |
v
Slab Support System v
Wedgelock Scaffoldings v
Cuplock Scaffoldings v
H – Frame Systems v
Tube Fittings v
Span and props v
Panel and Custom made Formworks |
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Exports to: |
UAE, |
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Imports : |
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Products : |
Raw materials |
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Countries : |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Corporates |
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No. of Employees : |
60 (In Mumbai Office) |
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Bankers : |
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ICICI Bank, Andheri (East), Mumbai, v
Bank of |
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Banking
Relations : |
Satisfactory |
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Memberships : |
v
Federation of Indian Exporter Organization (FIEO) v
National Safety Council of v
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 30.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 30.000 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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300.000 |
350.000 |
Expected Sales (2007-08) : Rs. 350.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
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Reliance Industries
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Larsen and Tubro
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Tata Chemicals
Website details attached
Profile
Subject
is a leading manufacturer, exporter and supplier of Slab
Support System, Wedgelock Scaffoldings, Cuplock Scaffoldings, H-Frame System,
Tube Fittings, Span & Props, Panel & Custom made Formworks for the application in construction
and maintenance work. Also deals in Hire & Contract Services and Civil
Construction Projects. The company works on the principle of customer
satisfaction and strives to achieve it through invariable quality uplifted and
superior services. Our products are gaining strength both in domestic and
international market, with export to 14 countries in the
Products
A company may be possessing
unlimited assets, may be backed by immense finance but it can only establish
itself if its products are having good demand in the market. They are proud to
establish there selves as world class suppliers, manufacturers and exporters of
the following items, along with Hire & Contract Services and Civil Construction
Projects:
- Slab Support
System
- Wedgelock
Scaffoldings
- Cuplock
Scaffoldings
- H-Frame
Systems
- Tube Fittings
- Span &
Props
- Panel &
Custom made Formworks
Quality
Quality is the priority at Subject. They fully recognize the worth of superior
products in the eyes of the customers. Therefore, they strive to deliver the
best quality products matched with satisfying services to their customers. This
establishes them as a trusted name in the market for providing the qualitative
products at the most reasonable costs. Their products are under the surveillance of efficient
professionals, skilled and experienced in the field. The dedication of their
employees is their greatest asset. Their creativity and inclination to deliver
the improved and better every time adds to their fame and strength
Infrastructure
Subject is fully equipped with the
most sophisticated machines to match the rising demand of its clients. They
have their works at Tapapur Industrial Zone, 80 Kms north of Mumbai city.
This gives us port & air connectivity to ensure quick deliveries anywhere
in the world.
The company is committed to supply
the most conducive and demanding at the most opportune time. Their Slab
Support System, Wedgelock Scaffoldings, Cuplock Scaffoldings, H-Frame Systems,
Tube Fittings, Span & Props, Panel & Custom made Formworks, etc. are famed in the market for their
durability and customer satisfaction.
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. 40.71 |
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1 |
Rs. 81.24 |
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Euro |
1 |
Rs. 54.63 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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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45 |
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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