MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
K. UTTAMLAL AND COMPANY |
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Registered Office : |
Bhagwan Bhawan, 1st Floor, 196 / 198, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1953 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Subject is engaged in as importers and dealers in Industrial
Chemicals, Dyes, Pigments, Solvents, Intermediates and Pharmaceutical Raw
Materials. |
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 45000 |
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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 well established and reputed concern having satisfactory track. Trade relations are fair. Payments are usually 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 / Head Office : |
Bhagwan Bhawan, 1st Floor, 196/198, |
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Tel. No.: |
91-22-2344 3295 / 3297 / 2346 5598 / 4900 / 5301 |
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Fax No.: |
91-22-2344 2190 / 3290 |
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E-Mail : |
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Area : |
Owned -- 800 sq. ft. |
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Location : |
Commercial |
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Warehouse : |
Dal Mill Compound, Bhiwandi, District Thane |
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Area : |
1800 sq. ft. -- Rented |
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Branches : |
70, |
SOLE PROPRIETOR
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Name : |
Mr. Kanaiyalal M.
Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
74 Years |
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Qualification : |
Matriculate |
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Experience : |
51 Years |
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BUSINESS DETAILS
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Line of Business : |
Subject is engaged in as importers and dealers in Industrial Chemicals, Dyes, Pigments, Solvents, Intermediates and Pharmaceutical Raw Materials. |
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Products : |
˛ Bisphenol-a ˛ Iodine, Orange Oil ˛ Ok-412, Propylene Glycol USP ˛ Dimethyl Formamide, Dimethyl Sulphoxide ˛ Neo Pentyl Glycol ˛ Octoic Acid ˛ Epichlorohydrine ˛ Butyl Glycol ˛ Sodium Borohydride ˛ Magnesium Oxide ˛ Gilsonite Hydroxilaine Sulphate. |
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Exports: |
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Countries : |
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Imports from : |
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Countries : |
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Terms : |
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Selling : |
Contract (30 days) or Cash and L/C terms |
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Purchasing : |
Contract (30 days) or Cash and L/C terms |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
4 |
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Bankers : |
>
Bank of
Mandvi Branch, Mumbai – 400 003, > Indian Overseas Bank 111/115, Gulabi House, |
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Facilities : |
The concern has reported to enjoy same facilities from its bankers |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
> K. Uttamlal (Exports) Limited, Mumbai > J. M. Corporation, Mumbai - Government Recognised Export House > J. K. Trading Company, Mumbai > Progressive Trading Company, Mumbai |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.12.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.12.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2006 (Estimated) |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
120.000 |
170.000 |
130.000 |
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LOCAL AGENCY FURTHER INFORMATION
The concern is also engaged in exports of Dyes and Dyes Intermediates of Indian Origin.
The concern sells in Local Market (90%) and International Market (10%)
We visited the office
of the concern where we observed that:
> Name Board could be seen and is prominently displayed.
> The concern’s office is easy to located
> The concern’s office is situated in a commercial area.
> Items such as Telephone, Fax Machines, Computers and Air Conditioner could be seen at the concern’s office
Group’s Annual Turnover Rs. 660.000 millions (Approximate)
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.39349 |
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1 |
Rs.80.41 |
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Euro |
1 |
Rs.55.76 |
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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