MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
UMA SURGICALS |
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Registered Office : |
102/103, Auto Commerce House, Kennedy
Bridge, Nana Chowk, Mumbai - 400 007 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1980 |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturer of Orthopaedic Trauma, Spine and Maxillofacial Implants
and Surgical Instrument |
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 8800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
– established concern having satisfactory track. Trade relations are fair. General
financial position is satisfactory. Payments are correct and as per
commitments. The concern can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
102/103, Auto Commerce House, Kennedy
Bridge, Nana Chowk, Mumbai - 400 007 |
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Tel. No.: |
91-22-23877076,
23856015, 23855627 |
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Fax No.: |
91-22-23877076 |
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E-Mail : |
umasurgics@vsnl.net , info@umasurgicals.com sales@umasurgicals.com |
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Website : |
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Area : |
600 Sq. ft |
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Location : |
Owned |
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Factory : |
Vasai, Navghar
Village, Thane |
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Area : |
3600 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vijay P
Gangan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
65 Years |
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Qualification : |
v Bachelors of
Engineering (Civil) from Walchand College of Engineering, a premier
engineering institute in Maharashtra. v Executive development
program of Jamnalal Bajaj Institute of Management from Mumbai University
having completed certificate courses in:
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Experience : |
v Years in Hindustan
Construction on Yamuna Hydrochloric Project, Uttar Pradesh. v 3 years in
consulting engineer with WS ATKINS Private Limited, Kolkata on various
projects. v 6 years as
Manager in Instruments Orthopedic (Manufacturer of Implants &
Instruments) in Mumbai. v 13 years of
partnership after foundation of Uma Surgicals along with financial partner. v
Over 10 years of proprietorship of M/s. Uma Surgicals from 1994
onwards. Around 44 years |
KEY EXECUTIVES
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Name : |
Mr. Girish V. Gangan |
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Designation : |
Chief Operating Officer |
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Date of
Birth/Age : |
30 Years |
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Qualification
: |
v Masters of
Science in Industrial and Systems Engineering from Georgia Institute of
Technology, Atlanta (No 1 University for past 13 years in Industrial
Engineering). v
Bachelors of Engineering in Production Engineering from one of the
premier Institute affiliated with Mumbai University, India |
|
Experience : |
v Graduate Engineer
with Mahindra & Mahindra Ltd., Mumbai – July, 1999 to May, 2000. v Sales Executive with
Uma Surgicals – June, 2000 to June 2001. v Utility Analyst
at Georgia Institute of Technology, Atlanta - Aug, 2001 to April, 2002. v
Logistics Analyst with Georgia-Pacific Corporation, Consumer Product
Division, Atlanta – May, 2002 to Jan, 2004. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Orthopaedic, Spine and Maxillofacial Implants and
Surgical Instrument, External Fixtures |
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Exports: |
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Products: |
All Products |
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Country: |
Africa, Middle
East and USA |
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Terms : |
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Selling : |
Cash & Credit
(30 days) |
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Purchasing : |
Cash & Credit
(30 days) |
GENERAL
INFORMATION
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Customers : |
Orthopaedic
Hospitals, Surgeons and Distributors |
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No. of Employees : |
20 |
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Bankers : |
v
ICICI Bank,
Opera House, Mumbai – 400 004 v
Bank of
Maharashtra, Nana Chowk, Mumbai – 400 007 |
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Facilities : |
v Cash Credit Rs. 0.100 Million from ICICI
Bank v Cash Credit Rs. 0.100 Million from Bank of
Maharashtra |
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Banking Relations : |
Satisfactory |
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Auditors : |
Kolhatkar &
Dandekar Chartered
Accountant |
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Address: |
Opp. Stock
Exchange, Mumbai – 400 001 |
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Associates/Subsidiaries : |
S K Surgicals Mumbai Line of Business
– Manufactures |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.200 Millions ( Approximate ) |
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Borrowed : |
Rs. 1.000 Million ( Approximate ) |
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Total : |
Rs. 3.200 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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30.000 |
20.000 |
Expected Sales (2007-08) : Rs. 33.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
In Trade terms
with:
v Lilavati Hospital
v Jaslok Hospital
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
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Indian Rupees |
|
US Dollar |
1 |
Rs. 39.35 |
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UK Pound |
1 |
Rs. 80.52 |
|
Euro |
1 |
Rs. 57.56 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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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. |
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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