MIRA
INFORM REPORT
|
Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNIVERSAL
CONSTRUCTION MACHINERY AND EQUIPMENT PRIVATE LIMITED |
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Registered Office : |
“ Universal House” , Warje
Naka, Kothrud, Pune - 411029 Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.09.2005 |
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Com. Reg. No.: |
25-21271 |
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CIN No.: [Company
Identification No.] |
U29248PN2005PTC021271 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEU05881B |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturers,
designers, developers, fabricators, creators, turnkey contractors, buyers,
sellers, importers, collaborators, exporters, dealers, agents, distributors,
in the field of equipments, machineries, products, tools, jigs, moulds,
mixers, pumps, motors, concrete, blenders, rollers, girders, livmixer,
batching plant, weigh earth compactors, earth moving equipments sand washing
or screening equipments and other built equipments, materials processing equipments,
material handling systems, vibrators, block making machines, spares, parts,
accessories required in construction industry and to maintain, alter or
improve the same. |
RATING &
COMMENTS
|
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 196000 |
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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. Trade relations
are fair. Business is active.
Payments are reported as usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
“ Universal House” , Warje
Jakatnaka, Kothrud, Pune – 411029,
Maharashtra, India |
|
Tel. No.: |
91 – 20 – 25230777 , 65008033 ,
25231305 |
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Fax No.: |
91-20-25231777 |
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Email : |
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Website : |
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Corporate
Office : |
Gat No. 327, 328
& 329, At Post Shivare, Taluka Bhor, Pune, Maharashtra, India |
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Tel. No.: |
91-2113-252771 / 252777/ 284702 |
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Fax No.: |
91-2113-284712 |
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E-mail: |
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Factory 1 : |
GAT No. 325/326, Naigaon Road,
Shirwal, Tal Khanadala, Dist Satara |
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Tel. No.: |
91-2169-244368, 244369 |
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Fax No.: |
91-9341091755 |
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E-Mail : |
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Regional Offices :: |
v South House No. 3600, 70th Cross,
Kumara Swami Layout, 2nd Stage, Bangalore 78 Tel No. : 91-80-30957977 v East 5th Floor , Block H, Phase 1,
N.A.M. Building, New Alipore (New Alipore P.Stn.) Kolkata - 53 v West Office No. 102, 1st Floor ,
Swastik Chembers, Sion – Trombay Road, Chembur , Mumbai 71 91-22 – 30951177 022 – 25220018 v North B-1,46/1, East Kailash
Colony,New Delhi. - 110065 91-11 - 39592877 v Ahmedabad Prerana Viraj Towers, B-101,
10th Floor, Near Gadhi Parshwanath Derasar, Near Jodhpur Char Rasta,
Ahmedabad 91-79-30189704 v Nagpur 2nd Floor , 303, Abhyankar
Road, Near Dhantoli Park, Dhantoli, Nagpur |
DIRECTORS
|
Name : |
Mr. Abhijit
Rohidas More |
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Designation : |
Director |
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Address : |
A – 302, Building
No. 42, Karishma Society, Near Sangam Press, Kothrud, Pune – 411038, India |
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Date of Birth: |
15.10.1952 |
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Date of Appointment : |
01.12.2006 |
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Other Directorship : |
Poona Clay Products Private Limited U26922PN2002PTC016999 |
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Name : |
Mr. Rohidas
Haribhau More |
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Designation : |
Director |
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Address : |
A – 302, Karishma
Society, Hothrud, Pune - 411038 |
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Name : |
Mr. Ranjit
Rohidas More |
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Designation : |
Director |
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Address : |
A – 302, Karishma
Society, Hothrud, Pune - 411038 |
KEY EXECUTIVES
|
Name : |
Mr. C S Kelkar |
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Designation : |
Company Secretary |
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Address: |
279 Shivajinagar, Behind Congress House, Pune – 411 005, Maharashtra. |
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Tel No.: |
91-20-56249531/ 25538193 |
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Mobile: |
91-9822502145 |
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Fax: |
91-20-25539670 |
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E-Mail: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ranjit
Rohidas More |
|
5000 |
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Mr. Rohidas
Haribhau More |
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5000 |
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List of Allotees [As on 20.12.2007] |
|
No. of Shares |
|
Rohidas Haribhau
More |
|
850000 |
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Ranjit Rohidas
More |
|
650000 |
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Abhijit Rohidas
More |
|
1150000 |
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Ranjana Rohidas
More |
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300000 |
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Category [As on
31.03.2007] |
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Percentage of
Holding |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers,
designers, developers, fabricators, creators, turnkey contractors, buyers,
sellers, importers, collaborators, exporters, dealers, agents, distributors,
in the field of equipments, machineries, products, tools, jigs, moulds, mixers,
pumps, motors, concrete, blenders, rollers, girders, livmixer, batching
plant, weigh earth compactors, earth moving equipments sand washing or
screening equipments and other built equipments, materials processing
equipments, material handling systems, vibrators, block making machines,
spares, parts, accessories required in construction industry and to maintain,
alter or improve the same. |
GENERAL
INFORMATION
|
No. of Employees : |
About 50 |
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Bankers : |
State Bank of India Industrial Finance Branch Wakdewadi, Pune – Mumbai Highway, Pune – 411003, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deekay and Company Chartered Accountants |
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Address : |
1616, Sadashiv Peth, Pune – 411030, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
990000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.900
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
9.900 |
9.900 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
39.311 |
12.069 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
49.211 |
21.969 |
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LOAN FUNDS |
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1] Secured Loans |
|
231.286 |
63.541 |
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2] Unsecured Loans |
|
39.276 |
13.160 |
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TOTAL BORROWING |
|
270.562 |
76.701 |
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DEFERRED TAX LIABILITIES |
|
4.960 |
0.057 |
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TOTAL |
|
324.733 |
98.727 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
193.832 |
42.059 |
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Capital work-in-progress |
|
0.000 |
22.523 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
89.812 |
33.396 |
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Sundry Debtors |
|
121.714 |
33.628 |
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Cash & Bank Balances |
|
14.780 |
13.071 |
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Other Current Assets |
|
92.014 |
3.160 |
|
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Loans & Advances |
|
0.000 |
28.331 |
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Total
Current Assets |
|
318.320 |
111.586 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
187.527 |
70.685 |
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Provisions |
|
0.000 |
6.900 |
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Total
Current Liabilities |
|
187.527 |
77.585 |
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Net Current Assets |
|
130.793 |
34.001 |
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MISCELLANEOUS EXPENSES |
|
0.108 |
0.144 |
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TOTAL |
|
324.733 |
98.727 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover
and Other Income |
|
694.700 |
106.454 |
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Total Income |
|
694.700 |
106.454 |
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Profit/(Loss) Before Tax |
|
33.300 |
12.127 |
|
Provision for Taxation |
|
-- |
0.061 |
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Profit/(Loss) After Tax |
|
33.300 |
12.066 |
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Expenditure: |
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Miscellaneous Expenses |
|
661.400 |
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Total Expenditure |
|
661.400 |
94.327 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total
Income |
(%) |
|
4.79 |
11.33 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.79 |
11.39 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.50 |
6.88 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.68 |
0.55 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
9.30 |
7.02 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.69 |
1.44 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80007541 |
|
Corporate
identity number of the company |
U29248PN2005PTC021271 |
|
Name of the
company |
UNIVERSAL CONSTRUCTION MACHINERY AND
EQUIPMENT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
“ Universal House” , Warje Naka, Kothrud, Pune - 411029
Maharashtra |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India Industrial Finance Branch Wakdewadi, Pune – Mumbai Highway, Pune – 411003, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
agreement of hypothecation of goods and assets for increase in overall
limit. The agreement dated
01.10.2007. Memorandum for recording extension of mortgage by deposit of
title deeds for the creation of equitable mortgage. |
|
Date of
instrument Creating the charge |
05.10.2007 |
|
Amount secured by
the charge |
Rs. 391.900
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
[a] Rate of
interest 1.50% above SBAR
i.e. 14.25% p.a. with monthly rests. [b] Terms of
repayment payable on demand [c] Margin Raw materials 25%
SIP 33% book debts [cover period 90 days] 30% [d] Extent and
operation of the charge Hypothecation of
entire stocks and book debts of the Company with collateral of 1st
charge on company’s fixed assets [present and future] at Shivare and Sangvi –
Shirval plants and extension of mortgage on corporate office at Warje Malwadi
Pune with personal guarantee of directors Shri Rohidas Haribhau More and Shri
Ranjit Rohidas More |
|
Short particulars
of the property charged |
Hypothecation of
entire stocks and book debts of the Company with the record kept at the
corporate office Warje Malwadi Pune and Plants at Shivare and Sangvi –
Shirval plants. |
|
Particulars of
the present modification |
By this
modification the limit has been enhanced to
Rs. 391.900 Millions |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80007541 |
|
Corporate
identity number of the company |
U29248PN2005PTC021271 |
|
Name of the
company |
UNIVERSAL
CONSTRUCTION MACHINERY AND EQUIPMENT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
“ Universal House” , Warje
Naka, Kothrud, Pune - 411029 Maharashtra |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India Industrial Finance Branch Wakdewadi, Pune – Mumbai Highway, Pune – 411003, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Both agreements
executed to constitute a single charge |
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Date of
instrument Creating the charge |
25.01.2007 |
|
Amount secured by
the charge |
Rs. 243.000
Millions |
|
Short particulars
of the property charged |
Land and
building, machinery and hypothecated movable assets at factory at Gat No 325,
326 at Sangavi, Khandala and gat No. 328, 329 & 327 Shivare and Corporate
office at Varje Kalat Naka, Kothrud, Pune |
|
Date of latest
modification prior to the present modification |
06.02.2006 |
|
Particulars of
the present modification |
By this
modification credit facility is enhanced from Rs. 181.200 Millions to Rs.
243.000 Millions |
As per
website
Universal has always envisioned itself, built its
foundations and focused its energies and working towards growing beyond just
another sound manufacturing company from India. They, at Universal have always
brought ourselves to reach International standards, raise global benchmarks in
technological breakthrough and set even more respectable quality bars in
competitive success stories. Universal, an ISO certified company, is engaged in
selling wide range of world class construction equipments backed by excellent
after sales service. It is situated in Pune, one of the top industrial towns of
India and considered to be the “Oxford of East” and just around 150 Kms from
Mumbai, the commercial capital of India.
BUSINESS DIVISION
Universal has structured its business division in healthy
ways, so as to ensure adequate focus on national as well as international
business. Their recent distinctions in winning overseas awards has more than
justified the Special Import Export Division, catering to interests of the
international trading community. Their national business is equally streamlined
and functionally aligned to stay flexible to market needs, proactively sense
business potential and always remain two steps ahead of their competition, in
serving customer segments. Qualified and experienced team of experts & in
house division of sales, marketing & after sales completes the powerful
form of their organization.
SPECIALISATION
PRODUCT TECHNOLOGY & EXPERTISE
Universal believes in using technology and
technique to their optimum and harness their potential by investing in high
yielding infrastructure, vitalizing Research and Developments faculties and
well designed assembly shop floor and go downs to house such sophisticated
machineries. Not only because best quality inputs guarantee best quality
outputs in the form of world class products and components, but also because
such encouraging working facilities and safety systems motivate people to bring
their fullest. People, who are an organization’s strongest and most valuable
resource, thus contribute their best for the best.
RESEARCH, DEVELOPMENT & DESIGN
Universal considerers R & D as its
backbone and has to its credits indigenously developed products to suit all
site requirements. Rigorous efforts are made to upgrade the present products
and to develop new products and concepts, which will eventually improve
construction standards and ease business process.
FACTORY SETUP
Situated 50 Km from Pune on the Mumbai – Bangalore National
Highway, Universal is equipped with modern and sophisticated factory setup to
produce world-class high quality construction equipments. Universal has in
house manufacturing facilities such as modern machines shop, sheet metal shop,
fabrication shops, assembly line, pain shops etc. All the machines manufactured
are thoroughly checked by Quality Assurance Department and backed by strong
after-sales service department. The sophisticated factory has also won award
for the best factory. Universal’s strength lies in its experienced and highly
qualified team of engineers and staff, devotes and skilled workers.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.94 |
|
UK Pound |
1 |
Rs. 78.81 |
|
Euro |
1 |
Rs. 63.05 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|