MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
UMAA ENGINEERS |
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Registered Office : |
Plot No. 183, Thanthai Periyar Salai, Kumaran Nagar, Semmanchery, Chennai-600119,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
2003 |
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IEC No.: |
045022352 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEU03391D |
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PAN No.: [Permanent
Account No.] |
AABFU4809L |
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Legal Form : |
Partnership Concern With Unlimited Liability of Parnter |
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Line of Business : |
Manufacturer of High Tensile Fasteners and Turned Components |
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 70000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but 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. Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. A N Palaniappan |
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Designation : |
Partner |
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Contact No.: |
91-9841020086 |
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Date : |
13.08.2008 |
LOCATIONS
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Registered Office : |
Plot No. 183, Thanthai Periyar Salai, Kumaran Nagar, Semmanchery,
Chennai-600119, Tamilnadu, India |
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Tel. No.: |
91-44-24502641 |
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Mobile No.: |
91-9841020086 |
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Fax No.: |
91-44-24502640 |
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E-Mail : |
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Website : |
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Area : |
(Building / Work Area about
11500 sq. ft.) On About 30000 sq ft (Owned) |
PARTNERS
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Name : |
Mr. A N Palaniappan |
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Designation : |
Partner |
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Date of Birth/Age : |
60 Years |
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Qualification : |
B.E |
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Experience : |
26 Years |
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Mobile No. : |
91-9841020086 |
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Name : |
Mr. Vijay Laremi |
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Designation : |
Partner |
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Date of Birth/Age : |
52 Years |
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Qualification : |
S.S.C |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of High Tensile Fasteners and Turned Components |
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Products : |
Industrial
Fasteners
Studs
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Terms : |
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Selling : |
Credit ( 60 Days) |
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Purchasing : |
Cash and Credit ( 45 Days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
OEM’s
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No. of Employees : |
About 80 |
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Bankers : |
State Bank of India, Adyar Branch, Chennai-600119, Tamilnadu, India |
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Facilities : |
CC Limit Rs. 15.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P.S. Murthy and Associates Chartered Accountant |
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Tel. No.: |
91-44-24471597 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 14.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 14.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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13.000 |
11.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
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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13.000 |
11.000 |
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LOAN FUNDS |
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1] Secured Loans |
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14.000 |
8.000 |
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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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14.000 |
8.000 |
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DEFERRED TAX LIABILITIES |
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21.000 |
22.000 |
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TOTAL |
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48.000 |
41.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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16.000 |
9.000 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.000 |
0.000 |
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Other Current Assets |
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28.000 |
30.000 |
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Loans & Advances |
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4.000 |
2.000 |
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Total
Current Assets |
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32.000 |
32.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.000 |
0.000 |
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Net Current Assets |
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32.000 |
32.000 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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48.000 |
41.000 |
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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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76.000 |
72.000 |
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Profit/Loss for the year |
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1.150 |
1.663 |
Expected Sales (2008-09) : Rs. 100.000 Millons
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2008 |
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PAT / Total Income |
(%) |
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1.51 |
2.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.51 |
2.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.39 |
4.06 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08 |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.08 |
0.73 |
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Current Ratio (Current Asset/Current Liability) |
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0.00 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Greaver
Cotton Company Limited, Ranipath
- Faivlell
Transport India Limited, Chennai
- T.V.S Motor
Company Limited, Chennai
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence Verification |
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Name |
Umaa Engineers |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AABF44809L |
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Central Sales Tax Registration |
771669 dated 28.07.2003 |
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Service Tax Registration |
AABFU4809LST001 |
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VAT/ TIN Registration |
33750923507 |
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Excise Registration |
AABF44809LXM001 |
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Name of Bank |
State Bank of Inda |
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Current Account Number |
10792655279 |
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Account Since |
1991 |
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Credibility Factors |
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Years of Establishment |
2003 |
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Turn Over |
07-08 ( Rs. 75.000 Millions_ |
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Turn Over Year |
08-09 (Rs. 100.000 Millions) |
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Trade Affiliations |
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SSI Registration |
330031200253 |
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Standards & Certifications |
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Quality Management Systems |
ISO 9001- 2001 |
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.42.82 |
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UK Pound |
1 |
Rs.80.01 |
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Euro |
1 |
Rs.63.83 |
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 |
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 |
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. |
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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