MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
UDEHRA FASTNERS LIMITED |
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Registered Office : |
Bhdewal Sugar Mill, Road Vill Jandiali Budewal, Distt Ludhiana - 141012,
Punjab. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.06.2006 |
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Com. Reg. No.: |
16-030430 |
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CIN No.: [Company
Identification No.] |
U28991PB2006PLC030430 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDU00491B |
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Legal Form : |
A Closely Held Public Limited
Liability Company. |
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Line of Business : |
Manufacturer of Nuts, Bolts, Thread Studs etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 7500 |
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Status : |
No Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
Subject has no business at present. No payments are available. The company can be considered for any business dealings on safe and secured
trade terms and conditions, only. |
INFORMATION PARTED
BY
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Name : |
Mr. Anoop Kumar |
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Designation : |
Director |
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Contact No.: |
91-9356072919 |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office : |
Bhdewal Sugar Mill, Road Vill Jandiali Budewal, Distt Ludhiana -
141012, Punjab, India |
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Tel. No.: |
91-161-2633671 |
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E-Mail : |
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Website : |
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Area : |
2 acre sq.ft. |
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Location : |
Owned |
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Factory 1 : |
D-88, Phase No.5, Focal Point, Ludhiana – 141 010, Punjab, India. |
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Tel. No.: |
91-161-2677457 / 2672948 / 3239778 |
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Fax No.: |
91-161-2674856 / 2843779 |
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Mobile No.: |
91-9356072919 / 9356070765 |
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E-Mail : |
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Area : |
2 acre sq.ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr.Ashok Kumar |
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Designation : |
Director |
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Address : |
325, Kidwai Nagar, Ludhiana – 141008, Punjab, India. |
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Date of Birth : |
23.03.1948 |
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Qualification : |
BA |
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Date of Appointment : |
02.10.1958 |
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Name : |
Mrs.Sameena |
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Designation : |
Director |
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Address : |
325, Kidwai Nagar, Ludhiana – 141008, Punjab, India. |
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Date of Birth : |
29.04.1942 |
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Date of Appointment : |
10.04.1973 |
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Name : |
Mr.Anoop Kumar |
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Designation : |
Director |
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Address : |
325, Kidwai Nagar, Ludhiana – 141008, Punjab, India. |
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Date of Birth : |
24.09.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.09.1981 |
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Name : |
Mr.Vanit Kumar |
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Designation : |
Director |
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Address : |
325, Kidwai Nagar, Ludhiana – 141008, Punjab, India. |
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Date of Birth: |
15.09.1950 |
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Qualification : |
BE.Mech |
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Date of Appointment : |
19.08.1983 |
KEY EXECUTIVES
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Name : |
Mr. R. K. Bhalla |
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Designation : |
Company Secretary |
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Address : |
90, Model 135001 Colony, Yamuna Nagar |
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Mobile No. : |
91-9813276611 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As On 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Mr.Ashok Kumar |
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10000 |
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Mrs. Sameena |
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10000 |
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Mr.Anoop Kumar |
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10 |
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Mr.Vanit Kumar |
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10 |
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Mr.Mangal Sain |
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10000 |
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Ms.Suman Rani |
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10000 |
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Mr.Krishna Rani |
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10000 |
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Mr.Harkiran Kaur |
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20000 |
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Ms.Divya |
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15000 |
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Mr.Rakesh Goel |
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105000 |
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Ms.Rita Goel |
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30000 |
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Mr.Rakesh Goel HUF |
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30000 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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33.34 |
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Other top fifty shareholders |
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66.66 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Nuts, Bolts, Thread Studs etc. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
LC, Cash and Credit (30 days) |
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Purchasing : |
LC, Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
v End Users v Bharat Petroleum v Indian Oil v Bharat Heavy Electronics Limited v TATA Motors v Reliance Industries Limited v ASEA BROWN BOVERI v GNFC (Gujarat Narmada Valley Fertilizers Company Limited) v Jai Hind Projects Limited v JSW Foundation v GRASIM (Aditya Birla Group) v KSFL (Kribhco Shyam Fertilizers Limited) v NSIC (National Small Industries Corp. Limited) v RF v CG v GG v SAIL (Steel Authority of India) v LT v ONGC (Oil and Natural Gas Corporation Limited ) v ONGC (Oil and Natural Gas Corporation Limited ) MRPL v ENERCON India Limited v IFFCO (Indian Farmers Fertilizer Cooperation Limited) v ESSAR Group v GMDC (Gujarat Mineral Development Corporation Limited) v GSPC
(Gujarat State Petroleum Corp. Limited)` |
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No. of Employees : |
200 (In office 15 + 185 in factory) |
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Bankers : |
Central Bank of India Focal Point, Ludhiana – 141010, Punjab, India. HDFC Bank, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India. |
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Facilities : |
Unsecured Loans
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Rakesh Goel and Associates Chartered Accountant |
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Address : |
1st Floor, Opp. Public Market, Overlock Road, Ludhiana –
141003, Punjab, India. |
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Tel. No.: |
91-161-2533174 / 2532574 |
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Mobile No.: |
91-9814058370 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- Each |
Rs.2.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
150020 |
Equity Shares |
Rs. 10/- Each |
Rs.1.500 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.500 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.914 |
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TOTAL BORROWING |
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0.914 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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2.414 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.020 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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2.314 |
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Total
Current Assets |
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2.334 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
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Provisions |
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0.008 |
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Total
Current Liabilities |
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0.008 |
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Net Current Assets |
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2.326 |
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MISCELLANEOUS EXPENSES |
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0.074 |
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Profit and Loss Account |
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0.014 |
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TOTAL |
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2.414 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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NA |
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Other Income |
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NA |
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Total Income |
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NA |
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Profit/(Loss) Before Tax |
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(0.014) |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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(0.014) |
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Expenditures : |
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Audit Fees |
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0.004 |
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Legal Fees |
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0.004 |
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Office Expenses |
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0.006 |
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Total Expenditure |
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0.014 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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- |
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Net Profit Margin (PBT/Sales) |
(%) |
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- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(0.59) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.009) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.005 |
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Current Ratio (Current Asset/Current Liability) |
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291.75 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Excise Registration No.: AAACU8362QXM001 |
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VAT / TIN : 03072032116 |
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PAN / TAN : AAACU8362Q |
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Bank Name : HDFC
Bank |
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Bank Address : Ludhiana |
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Bank A/c. No.: 02592790000930 |
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Account Since : 2
years |
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In case of any affiliations / memberships / certifications
: |
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Name : ISO 9001 :
2000 |
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Type : MODI |
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Expiry Date : 2010 |
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Form 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U28991PB2006PTC030430 |
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Name of the
company |
UDEHRA FASTNERS LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Bhdewal Sugar Mill, Road Vill Jandiali Budewal, Distt Ludhiana,
Punjab, India. |
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Type of charge |
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Particular of
charge holder |
HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India. CIN No.: L65920MH1994PLC080618 Email :RBBform8@hdfcbank.com |
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Nature of
description of the instrument creating or modifying the charge |
Letter of Hypothecation |
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Date of
instrument Creating the charge |
19.06.2008 |
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Amount secured by
the charge |
Rs.6.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time Term of Repayment On Demand Margin Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and operation of the charge Hypothecation by
way of first charge on company’s stocks, Book Debts etc.to secure as a
continuing security |
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Short particulars
of the property charged |
Hypothecation by
way first charge on (a) All the stock in trade both present and future
consisiting of raw materials, finished goods, goods in process of
manufacturing and other merchandise, fixed assets and whatsoever being
movable properties; (b) all present and future book debts. |
Financial Results:
The Company has not transacted any business during
the year under audit.
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.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
- |
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--LEVERAGE |
1~10 |
- |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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TOTAL |
|
5 |
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. |
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 |
|