MIRA
INFORM REPORT
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Report Date : |
08.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNISHILP ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
1696 / 2, Mohan Building, Bhagirath Place, New Delhi – 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.03.1990 |
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Com. Reg. No.: |
55-39473 |
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CIN No.: [Company
Identification No.] |
U74899DL1990PTC039473 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU00887F |
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PAN No.: [Permanent
Account No.] |
AAACU1717F |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
To carry on the business of manufacturers, assemblers, fabricators, importers, exporters and dealers in
all kinds of electrical and electronic goods and equipments, television sets,
tape deck, mechanism, micro motors, transistors, radios, car cassette
players, two-in-one, computers, electronic communication, equipments,
electric control instruments, calculators, Dictaphones and their accessories.
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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 15000 |
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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 company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are 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 : |
1696 / 2, Mohan Building, Bhagirath Place, New Delhi – 110006, India |
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E-Mail : |
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Factory 1 : |
B-11, Sector – 7, Noida, Uttar Pradesh, India |
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Tel. No.: |
91-120-4346880-80 / 2423123 / 2423153 / 2423660 |
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Fax No.: |
91-120-2423618 |
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Mobile No. : |
91-9811051990 |
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Email : |
DIRECTORS
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Name : |
Mr. Pramod Kumar Verma |
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Designation : |
Director |
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Address : |
A-7/4, Sector – 19, Noida – 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
20.06.1950 |
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Date of Appointment : |
20.03.1990 |
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Name : |
Mr. Prem Kumar Verma |
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Designation : |
Director |
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Address : |
Q-48, Rajouri Garden, New Delhi – 110027, India |
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Date of Birth/Age : |
12.11.1945 |
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Date of Appointment : |
20.03.1990 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Pramod Kumar Verma |
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71000 |
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Prem Kumar Verma |
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2500 |
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Manju Verma |
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15500 |
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Madhu Verma |
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1000 |
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Pramod K. Verma and Sons |
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10000 |
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Pranav Verma |
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25000 |
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Pratek Verma |
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65000 |
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Total |
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190000 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of manufacturers, assemblers, fabricators, importers, exporters and dealers in
all kinds of electrical and electronic goods and equipments, television sets,
tape deck, mechanism, micro motors, transistors, radios, car cassette players,
two-in-one, computers, electronic communication, equipments, electric control
instruments, calculators, Dictaphones and their accessories. |
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Products : |
Home Security, Alarm, CCTV, Autdo Video, Door Phone, Monitors, Switchers,
Adp and Vdp, Wired and Unwired
Burglar Alarm System Access Control, Time Attendance, Parking
Management System and Electrical Equipments.
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GENERAL
INFORMATION
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Bankers : |
Canara Bank, Fountain, Delhi – 110006 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khiwani and Company Chartered Accountants |
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Address : |
23/26, East Patel Nagar, New Delhi – 110008, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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190000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.900 Millions |
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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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.900 |
1.900 |
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2] Share Application Money |
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0.600 |
0.600 |
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3] Reserves & Surplus |
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1.311 |
1.230 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.811 |
3.730 |
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LOAN FUNDS |
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1] Secured Loans |
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3.713 |
3.858 |
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2] Unsecured Loans |
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11.210 |
9.985 |
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TOTAL BORROWING |
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14.923 |
13.843 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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18.734 |
17.573 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.735 |
1.917 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.027 |
0.001 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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15.999 |
15.281 |
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Sundry Debtors |
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8.059 |
6.899 |
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Cash & Bank Balances |
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0.436 |
0.136 |
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Other Current Assets |
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1.256 |
1.016 |
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Total
Current Assets |
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25.750 |
23.332 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.591 |
7.495 |
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Provisions |
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0.187 |
0.182 |
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Total
Current Liabilities |
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8.778 |
7.677 |
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Net Current Assets |
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16.972 |
15.655 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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18.734 |
17.573 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.22 |
5.77 |
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Current Ratio (Current Asset/Current Liability) |
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2.93 |
3.04 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
UNISHILP
ELECTRONICS PRIVATE LIMITED |
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Presented By |
Canara Bank,
Fountain, Delhi – 110006 |
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1) Date and description of instrument creating the change |
Cash Credit
Agreement dated 12.07.1999, regd. On 27.07.1999 modified on 12.02.2000, 06.10.2003
and finally as 06.10.2003 for collateral security of equitable mortgage of
company’s landed properties situated at B-11, Sector -7, Nodia UP, for Cash
Credit Limit of Rs. 0.700 Millions, last modification regd. On 31.10.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
whole of he borrower’s present and future stocks of raw materials,
goods-in-process of manufacture an all finished and manufactured goods and
articles such as electronic spare parts, components and finished goods
together with all stores, components and spares now lying or hereafter
stored, components and spares now lying or hereafter stored at Company’s
factory godowns other premises at B-11, Sector -7, Nodia UP or at any other place including those in
transit and all of the borrower present and future book debts, outstanding,
monies receivables, claims, bills, right to or in movable properties and
movable assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure
a cash credit limit of Rs. 2.000 Millions granted to the company Interest is to be
charged @ 8.07 % p.a. over RBI rate subject to a minimum of 16.07 % p.a.
compounded quarterly or a such rate as may be specified by the Bank from time
to time with an overdue interest of 2.04 % p.a. over and above the interest
rate charged in the account in case of default. Margin : as may
be stipulated by the bank from time to time payable on demand. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Fountain, Delhi – 110006 |
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6) Date and brief description of instrument modifying the charge |
Supplemental
agreement dated 04.06.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The Cash Credit
limit stands enhanced from Rs. 3.000 Millions to Rs. 3.750 Millions Interest rate
stands changed to 2.85 % p.a. above ongoing PLR of the Bank with a minimum of
13.60 % p.a. compounded monthly. Other terms and
conditions remained the same. |
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.44.27 |
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UK Pound |
1 |
Rs.85.54 |
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Euro |
1 |
Rs.58.23 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
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 |
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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46 |
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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