MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL AUTOMATION PRIVATE LIMITED |
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Registered Office : |
No.37, 4th Cross, Alpha – Ashram Road Cross, Yelachenahalli,
Kankapura Road, J P Nagar Post, Bangalore – 560 078, Karnataka |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.04.2005 |
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Com. Reg. No.: |
36001 |
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CIN No.: [Company
Identification No.] |
U29299KA2005PTC036001 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRU01586E |
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PAN No.: [Permanent
Account No.] |
AAACU7457J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Special Purpose Machines (SPM’s) Assembly
Automation, Process Automation, Place Devices, Material Handling Equipments,
and Transfer Lines. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 9512 |
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Status : |
Small company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. Payments are usually
correct and as per commitments. The concern can be considered
for small to mediocre business dealings at usual trade term and conditions. |
LOCATIONS
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Registered Office : |
No.37, 4th Cross, Alpha – Ashram Road Cross, Yelachenahalli,
Kankapura Road, J P Nagar Post, Bangalore – 560 078, Karnataka |
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Tel. No.: |
91-80-57703536 |
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Mobile No.: |
91-9448465503 / 9448350487 |
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Fax No.: |
91-80-26669038 |
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E-Mail : |
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Website : |
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Corporate Office : |
#49, 7th Main, JC Industrial area, |
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Tel. No.: |
91-80-65703536 |
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Fax No.: |
91-80-26669038 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity Share Break – up (Percentage of Total Equity)
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Special Purpose Machines (SPM’s) Assembly
Automation, Process Automation, Place Devices, Material Handling Equipments,
and Transfer Lines. |
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Products : |
· Special Purpose Machines · Material Handling Equipments · Testing Equipments · Jigs and Fixtures |
GENERAL INFORMATION
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Customers : |
M/s Adeep Locks Limited, M/s Anand Technology Resource Park Private Limited M/s Araco Automotive India Private Limited, Bidadi, M/s Automotive Axles Limited, M/s Denso Kirloskar Industries Private Limited M/s Exide Industries Limited, Hosur M/s Gabriel India, Hosur M/s GOETZE India Limited M/s IFB Automotive Private Limited, M/s India Japan Lighting Private Limited, Chennai. (A Joint venture of TVS & Koito-Japan) M/s Motherson Automotive Technologies & Engineering, Chennai M/s Motherson Sumi Systems Limited M/s Motor Industries Co. Limited M/s MWG Biotech P. Limited M/s Schneider Electric India Private Limited |
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No. of Employees : |
10 |
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Bankers : |
State Bank of Address: J.P Nagar Branch, 24th
Main, J P Nagar, |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
K Subhash Chandra Babu and Company Chartered Accountants |
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Address : |
No. B-3, 1st floor, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10/-
each |
Rs. 0.100
million |
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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0.100 |
0.000 |
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2] Share Application Money |
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2.138 |
0.000 |
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3] Reserves & Surplus |
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0.140 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.378 |
0.000 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.082 |
0.000 |
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TOTAL |
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2.460 |
0.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.235 |
0.000 |
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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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0.000 |
0.000 |
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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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0.963 |
0.000 |
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Sundry Debtors |
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1.967 |
0.000 |
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Cash & Bank Balances |
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0.444 |
0.000 |
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Other Current Assets |
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0.308 |
0.000 |
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Loans & Advances |
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0.325 |
0.000 |
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Total
Current Assets |
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4.007 |
0.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.365 |
0.000 |
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Provisions |
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0.417 |
0.000 |
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Total
Current Liabilities |
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1.782 |
0.000 |
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Net Current Assets |
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2.225 |
0.000 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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2.460 |
0.000 |
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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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3.000 |
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Other Income |
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0.000 |
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Total Income |
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3.000 |
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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0.74 |
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Current Ratio (Current Asset/Current Liability) |
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2.24 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the
company |
M/S. Universal Automation Private Limited |
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Presented
By |
State Bank of Address: J P
Nagar Branch, 24th Main , J P Nagar, And M/s. Universal
Automation Private Limited |
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1) Date and description
of instrument creating the change |
21.12.2005 Agreement of Loan
– cum – Hypothecation. SME – 2, Letter of arrangement. SME – 1 (Both the above
pertain to same charge) |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.100
millions C.C Sts – Rs.
1.000 millions, CC Rec – Rs. 1.400 millions, B.6 – Rs. 2.000 millions and LC
– Rs. 0.700 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 |
All present and
future stocks, raw material, goods, book debts and vehicles and all other
movable assets of the borrowers including Receivables, documents of Title of
goods, Outstanding Moneys, Bill, Invoices, Documents, Investment, contracts,
insurance policies, Guarantees, Engagement, securities, Investment, and
rights and the present machinery listed in schedule – B hereunder and all the
future Machinery belonging to or in the possession or control of the Borrower whether lying,
stored and kept and whether in possession of the Borrower (s) or of the Bank
or of any third party whether in India or elsewhere including all such goods,
vehicles, other movable assets as may be in the course of shipment, transit
or delivery and all machinery, vehicles and other equipments items of
whatever nature acquired by the Borrower(s) pursuant or subsequent to these
presents hereby agreed to be furnished in form SME – 2A (hereinafter
collectively referred to as “said assets “) stand hypothecated to the bank by
way of machinery/ies like Machine Part
Fabricated Parts, Bearings, Peneumatics, Hydraulic, CNC, PLCS, electrical
parts, motors, Censors, etc Goods like Semi
finished goods and finished products. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest: 1.5% Above state Bank
Advance (SBAR) (SBAR = 10.25% w.e.f. 01.01.2004) with a minimum of 11.75% per
annum rising or falling therewith, on daily products with monthly rests.
Present effective Rate : 11.75% per annum wherever expedient, interest rate
is directly Margin: 25% on RM ( Indigenous) / SFG/FG/REC/LC/BG, Repayment: Working Capital – On Demand. |
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5) Name and Address
and description of the person entitled to the charge. |
State Bank of Address: J.P Nagar Branch, 24th
Main, J P Nagar, (A Banking Company) |
WEBSITE DETAILS:
Helping
the business succeed and grow is what they do the best — Universal Automation
Private Limited established on March 2004, has aligned its core business to
offer world-class automation solutions to medium and large scale Engineering
industries. Their customized automation solutions are built using the best in
the industry technology and testing practices. Moving away from the proprietary
technology that built the industrial automation industry, they have adopted
commercial technologies and an open approach, enabling to easily deploy, manage
and gather information for the manufacturing processes, helping you to improve
the productivity.
They
build Special Purpose Machines, Material handling and testing equipments,
implement Turnkey projects and offer consultancy services. Their products result
in cost reduction, maximizing production/plant uptime and in eliminating
industrial risks. Their consultancy service updates you with global/local
industry trends and insights into emerging technology and helps you to take
advantage of the growth opportunities.
They
listen to their customers' business and manufacturing challenges and provide
them with designing, developing and manufacturing solutions.
To
provide the most efficient and reliable automation solutions, using
uncompromising quality standards and aid in the cost reduction and production
augmentation.
They
strongly believe that the key to success lies in how well all of them
understand and carry out their personal and professional responsibilities.
They
are unflinchingly committed to their customers; Competence, Workmanship and
integrity form the core value system of Universal Automation. They are driven
by customer success; their solutions are about understanding their customers
better and meeting their needs effectively.
Their
value to customers is their intellectual property - knowing how to do
industrial automation the best - and utilizing the components underneath it to
achieve that. They believe in finding new ways to help their customers achieve
improved performance and lower production cost. They continually strive to be
the best in all aspects of their business practices, and foster a culture of
trust, teamwork, accountability, partnership and open communication.
They provide consultation, designing and manufacturing in
the following areas:
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• Mechanical |
• Hydraulics |
• Pneumatics |
• Vacuum |
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• Thermal |
• Industrial Process |
• Electrical and Electronics |
• Control Software |
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• PLC and CNC systems |
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Team:
The Core Engineering and Strategic team on an average has 19
+ years of experience with an Indian Multi National company focusing on
Industrial Automation, the leadership has a comprehensive experience in
planning, designing and executing complex and critical projects. Overseas
exposures, implementation of Kaizen principles in the entire process, handling
the whole manufacturing operations and several quality trainings speaks volume
on the depth and breadth of the knowledge base. The management team has strategically
aligned and extended its perspective to understand the customers' business and
manufacturing challenges and provide them with a result-oriented solution.
Technical leadership in the factory automation business can
only be maintained by having the best people; the leadership team is backed by
a team of highly competent, highly trained, energetic engineers, technicians
and manufacturing personnel. This team, breaking through the limitations of
conventional thinking offers a range of result-oriented solutions, which
deliver the highest productivity at the lowest price.
Continuous training and awareness sessions are organized to
keep the working force abreast with the latest technical developments.
Infrastructure:
Over 4500 Sq Ft of assembly area, with the assembly tools,
welding and drilling machines, precision measuring instruments are available.
· Indigenisation of capital machinery
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They manufacture
and design state of the art Special Purpose Machines that are used for
different applications. Their SPM's are of extremely high quality and are
utilized by people all over the world. Their array of SPM's are the
following: |
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- Glue Dispensing Machine |
- Heat Sealing Machine |
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- Thermal Riverting Machine |
- LCD Bracket Twisting Machine |
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- Piston Nut
Torque Machine |
- Riverting Machine |
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2. Material
Handling Equipments They have a
well-established division for manufacturing Material Handling Equipments with
all quality-testing facilities. They believe in providing superior quality at
competitive prices. Their range includes: |
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- Inner tube Conveyor |
- Piston Transfer conveyor |
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Their Testing
Equipments have carved a niche for themselves in the competitive market of
today. They cater to all the requirements of their clients and provide them fulfilling
testing solutions. Their wide spectrum of machines consist of the following: |
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- Lock Endurance Test Machine |
- HV Test and Greasing Bench |
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- Strength
Checking Machine |
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Their Jigs and
Fixtures are of paramount importance in achieving the optimum result. These
Jigs and Fixtures are used to check the accuracy of the machines. |
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- Checking fixtures |
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Universal Automation is an
organization with a solid vision of providing competitive and customized
automation solution, quality products through innovative system integration capabilities
with a strong commitment to build customer confidence. They broadly deal in -Fully Automatic and Semi Automatic Special
Purpose Machines, Conveyor Systems, Factory Automation, Industrial Automations,
Jigs and Fixtures.
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.39.56 |
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1 |
Rs.80.30 |
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Euro |
1 |
Rs.55.76 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
4 |
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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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31 |
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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