MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
UPTECH ENGINEERING |
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Registered Office : |
Gate No. 274, Nanekarwadi, Pune Nashik Highway, Chakan Khed, Pune – 410
501, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
December 1999 |
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IEC No.: |
3199006205 |
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PAN No.: [Permanent
Account No.] |
ACGPS5923G |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Magnetic Tools used in Electrical Industry, Inspection
Instruments and Machine Shop Aids. |
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 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Sandesh Shah |
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Designation : |
Son of Proprietor |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office : |
Gate No. 274, Nanekarwadi, Pune Nashik Highway, Chakan Khed, Pune –
410 501, Maharashtra, India |
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Tel. No.: |
91-2135-325004 / 325554 / 306981 / 278142 |
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Fax No.: |
91-2135-261435 / 24333906 |
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E-Mail : |
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Website : |
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Area : |
800 Sq. ft. |
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Location : |
Owned |
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Factory : |
Gate No. 274, Nanekarwadi, Pune Nashik Highway, Chakan Khed, Pune –
410 501, Maharashtra, India |
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Tel. No.: |
91-2135-325004 / 325554 / 306981 / 278142 |
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Fax No.: |
91-2135-261435 / 24333906 |
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Area : |
4500 Sq. ft. Total of 1 Acre |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. B R Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
60 Years |
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Qualification : |
DME |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Magnetic Tools used in Electrical Industry, Inspection
Instruments and Machine Shop Aids. |
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Exports : |
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Countries : |
·
France ·
Singapore ·
Malaysia ·
Dubai |
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Imports : |
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Products : |
Magnet |
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Countries : |
China |
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Terms : |
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Selling : |
L/C and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
L/C and Credit (60 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Dealer ·
Companies ·
Ammunition Factory ·
Ashok Leyland Limited ·
Apollo Tyres Limited ·
Auma (India) Limited ·
Bharat Heavy Electricals Limited (BHEL) ·
Bajaj Auto Limited ·
Carraro India Limited ·
Claudien Gauges ·
Diesel Locomotive Works ·
Electonica Machine Tools Company ·
Gala Equipments Limited ·
Greaves Limited ·
Hero Honda Motors Limited ·
IP Pins and Liners Limited ·
Kalyani Brakes ·
Kirloskar Oil Engines Limited ·
LMW Limited ·
MDS Switchgear Limited |
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No. of Employees : |
48 (In Office 8 and In Factory 40), Contract Workers – 30 |
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Bankers : |
State Bank of India, Pimpri |
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Facilities : |
CC Rs.3.500 millions |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Subhash Hiran and Company Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.379 millions |
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Borrowed : |
- |
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Total : |
Rs.2.379 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Proprietor’s Capital |
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2.379 |
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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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2.379 |
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LOAN FUNDS |
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1] Secured Loans |
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0.181 |
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2] Unsecured Loans |
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0.050 |
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3] Loans |
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2.571 |
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TOTAL BORROWING |
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2.802 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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5.181 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.633 |
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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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2.117 |
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Sundry Debtors |
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2.923 |
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Cash & Bank Balances |
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0.001 |
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Other Current Assets |
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0.100 |
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Loans & Advances |
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0.015 |
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Total
Current Assets |
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5.156 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.450 |
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Provisions |
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0.158 |
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Total
Current Liabilities |
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2.608 |
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Net Current Assets |
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2.548 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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5.181 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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23.110 |
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Other Income |
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0.000 |
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Total Income |
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23.110 |
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Profit/(Loss) Before Tax |
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1.862 |
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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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1.862 |
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Expenditures : |
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Cost of Goods Sold |
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14.381 |
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Wages |
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1.191 |
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Salaries, Wages, Bonus, etc. |
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0.662 |
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Sales Commission |
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1.505 |
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Interest |
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0.305 |
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Depreciation & Amortization |
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0.365 |
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Other Expenditure |
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2.839 |
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Total Expenditure |
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21.248 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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8.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
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8.06 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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23.91 |
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Return on Investment (ROI) (PBT/Networth) |
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0.78 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.27 |
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Current Ratio (Current Asset/Current Liability) |
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1.98 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : ST001ACGPS5923G |
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Excise Registration No.: ACGPS5923G XM001 |
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VAT / TIN : 27090013042V |
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IEC Code : 3199006205 |
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PAN / TAN : ACGPS5923G |
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Bank Name : State Bank of India |
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Bank Address : Pimpri |
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Bank A/c. No.: 11148466608 |
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Account Since : 9 Years |
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In case of any affiliations / memberships / certifications : |
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Name : ISO – NQAQSR Certificate No. – 081361/J |
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Type : 9001:2000 |
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Expiry Date : 09.01.2011 |
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Trade References
·
Bajaj Auto
·
Laxmi Machine Work – Coimbatore
Web Details
They
introduce themselves as the manufacturer of various type of magnetic products,
precision inspection instruments and machine shop aids such as ‘V’ Blocks,
Magnetic Holders, Magnetic Bases, Surface Gauges, Tool setting gauges, Parallel
Blocks, Universal Blocks, Magnetic Chucks, Electromagnetic & Electro
Permanent Magnetic chucks, Sine Table, Try Square, Grinding Vice, Sine Vice
Demagnetizers and Magnetic Lifter, Magnetic Platen etc.
They
are able to satisfy the customer with Quality Products for last 20 years and it
was possible because of continues moral and business support from the good
self.
Following
are some of the esteemed clients with whom they are registered as approved
vendors: - Ace designers Limited, Ashok Leyand Limited, Bajaj Auto Limited,
Chicago Pneumatics (I) Limited, ELB Schliff (I) Limited, Eagle Flask Industrial
Limited, Escorts Limited, Eicher Motors Limited, Ganage Pressings Limited, Gala
Equipments Limited, H.A.L., Hero Honda Motors Limited, Hindustan Power Plus
Limited, HMT Precision Machinery., Jaihind Sciaky Limited, Keihin Fie Private
Limited, Kinetic Engg. Limited, KSB Pumps Limited, Kirloskar Copeland Limited,
Kalyani Brakes Limited, Krupp India Limited, Laxmi Machine Works Limited,
NRB Bearings Limited, Perfect Circle Victor Limited, Rieter LMW M/cs
Limited, Sintex Industries Limited, Super Auto Forge Limited, SKS
Fasters, Spaco Carburrattors (I) Limited, Tecumesh Products India Limited,
Wipro Fluid Power Limited, Zenith Limited, BHEL, L and T, Godrej,. Prical, Jai
Hind Industries, Siemens, etc.
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.48.62 |
|
UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
YES |
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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 |
|
45 |
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 |
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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 |
|
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 |
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