MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
UMA CONVERTER PRIVATE LIMITED |
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Registered Office : |
A/36, Circle – B Opposite Rajpath Club, Sarkhej Gandhinagar Highway,
Bodakde, Ahmedabad – 380015, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.06.1999 |
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Com. Reg. No.: |
04-36163 |
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CIN No.: [Company
Identification No.] |
U55200GJ1999PTC036163 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU03834F |
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PAN No.: [Permanent
Account No.] |
AAACU4076B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Flexible Packaging
Materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 110000 |
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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 an established company having satisfactory track. The
company has been successful in wiping off its old losses. Payments are
reported as slow but correct. Trade relations are fair. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Bhavesh Govani |
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Designation : |
Accounts Manager |
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Date : |
13.11.2008 |
LOCATIONS
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Registered Office/ Factory : |
A/36, Circle – B Opposite Rajpath Club, Sarkhej Gandhinagar Highway,
Bodakde, Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
91-79-26872584 |
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Fax No.: |
91-79-26872585 |
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E-Mail : |
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Website : |
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Area : |
500 sq. m. |
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Location : |
Owned |
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Head/ Administrative Office: |
807, Tusiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Factory : |
Plot No.868 16 Satej Road, Taluka Kalol, District Gandhji Nagar, India
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Tel. No.: |
91-2764-286681/ 286432 |
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Fax No.: |
91-2764-286181 |
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South Address : |
"JANANI", Sreenivasapuram Varkala - 695145, Dist. Trivandrum, Kerala
State, India |
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Tel. No.: |
91-470-2608676 |
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Mobile No.: |
9447718676/ 98461 23423 |
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Email : |
DIRECTORS
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Name : |
Mr. Samer Raj |
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Designation : |
Director |
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Address : |
C-3/42, Goyal Intercity, Drive – in – Road, Ahmedabad – 380054,
Gujarat, India |
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Date of Birth/Age : |
22.09.1956 |
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Qualification : |
Graduate |
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Name : |
Mrs. Nirmala Lodha |
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Designation : |
Director |
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Address : |
C-3/42, Goyal Intercity, Drive – in – Road, Ahmedabad – 380054,
Gujarat, India |
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Date of Birth/Age : |
23.09.1963 |
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Qualification : |
SSC |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 22.09.2008)
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Names of Shareholders |
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No. of Shares |
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Sumer Raj Lodha |
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829900 |
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Nirmala Lodha |
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360000 |
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Abhishek Lodha |
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170000 |
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Swati Lodha |
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40000 |
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Manoj Bothra |
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50000 |
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Naresh Bothra |
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50000 |
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Charered Carrier Limited |
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100 |
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Rang Undyog Investment Private Limited |
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20000 |
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Shelja Finlease Private Limited |
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20000 |
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Chopra Yarns Private Limited |
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20000 |
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Chopra Yarns Private Limited |
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20000 |
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Total |
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1580000 |
(As on 31.03.2008)
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Category |
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Percentage |
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Bodies Corporate |
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5.07 |
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Directors or relatives of director |
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94.93 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Flexible Packaging
Materials. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C and Cash |
PRODUCTION STATUS (31.03.2007)
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Particulars |
Unit |
Actual
Production |
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Production Poucjes |
Nos. |
82556913 |
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Co-extruded Sheets |
Mt. |
371915 |
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Flexible Rolls |
Mt. |
673951 |
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Scrape Generated (Wastage) |
Mt. |
115712 |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers, Manufacturers
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Suppliers : |
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No. of Employees : |
108 (Office – 8 and Factory – 100) |
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Bankers : |
Industrial Finance Branch, Opposite V S Hospital, Ahmedabad – 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajendra R. Jain and Company Chartered Accountant |
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Address : |
E – 123, Kalpatru Shopping Centre, Residency Road, Jodhpur – 342003,
Rajasthan, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
15.000 |
15.000 |
15.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.473 |
1.694 |
1.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(1.834) |
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NETWORTH |
22.473 |
16.694 |
14.166 |
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LOAN FUNDS |
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1] Secured Loans |
76.883 |
62.642 |
50.852 |
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2] Unsecured Loans |
56.416 |
41.910 |
39.629 |
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TOTAL BORROWING |
133.299 |
104.552 |
90.481 |
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DEFERRED TAX LIABILITIES |
4.651 |
3.188 |
0.177 |
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TOTAL |
160.423 |
124.434 |
104.824 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
89.098 |
78.518 |
67.579 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
57.373
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40.096 |
27.397 |
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Sundry Debtors |
31.377
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18.180 |
20.145 |
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Cash & Bank Balances |
8.235
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4.434 |
0.568 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
10.018
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6.286 |
6.684 |
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Total
Current Assets |
107.003
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68.996 |
54.794 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.665
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22.533 |
17.556 |
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Provisions |
1.017
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0.552 |
0.000 |
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Total
Current Liabilities |
35.682
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23.085 |
17.556 |
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Net Current Assets |
71.321
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45.911 |
37.238 |
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MISCELLANEOUS EXPENSES |
0.004 |
0.005 |
0.007 |
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TOTAL |
160.423 |
124.434 |
104.824 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
231.058 |
169.464 |
NA |
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Other Income |
1.290 |
0.525 |
NA |
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Total Income |
232.348 |
169.989 |
NA |
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Profit/(Loss) Before Tax |
8.287 |
6.136 |
5.335 |
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Provision for Taxation |
2.508 |
3.609 |
0.596 |
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Profit/(Loss) After Tax |
5.779 |
2.527 |
4.739 |
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Expenditures : |
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Manufacturing Expenses |
6.236 |
4.544 |
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Administrative Expenses |
24.783 |
25.237 |
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Raw Material Consumed |
154.402 |
106.501 |
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Selling and Distribution Expenses |
3.207 |
2.012 |
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Interest |
8.345 |
7.039 |
Not Available |
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Depreciation & Amortization |
4.328 |
3.021 |
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Other Expenditure |
31.020 |
23.170 |
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Increase/(Decrease) in Finished Goods |
(8.260) |
(7.671) |
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Total Expenditure |
224.061 |
163.853 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.49
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1.49 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
3.59
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3.62 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.23
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4.16 |
4.36 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37
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0.37 |
0.38 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.42
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7.65 |
7.63 |
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Current Ratio (Current Asset/Current Liability) |
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2.99
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2.99 |
3.12 |
LOCAL AGENCY FURTHER
INFORMATION
Trade Reference:
- Samrat
Namkeen – Ahmedabad
- DIC India
Limited - Ahmedabad
Operation Review:
The financial performance of the company during the year was
satisfactory, Despite competitive business environment, the company has received
good response from the market because of its quality products and fulfilling
the timely commitment to the customers
The company has manged to improve overall performance in respect of
turnover, profitability and retaining market share.
Fixed Assets:
- Land and site
Development
- Factory
Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Computer and
Printers
- Motor and
Vehicles
- Electric
Instllation
Website Details:
Overview:
Subject has played an influential role in the packaging industry
ever since its inception in the year 1995. company manufacturing has worked
every inch to become a force to reckon with in the field of manufacturing
Flexible Packaging materials. They are poised to take a giant stride into the
future of Packaging world by updating ourselves with latest
technology/machinery available. The company is geared with sophisticated plant
and machinery, employing state of the art technology and specializing in
multi-faceted packaging activities including printing, lamination, pouch
packaging and other areas of flexible packaging.
Company manufactured packaging materials are used by wide range of industries
for their multifarious packaging functions. Primary among them are packaging of
tea, confectionery, milk & milk products, snacks, pharmaceutical products,
biscuits, coffee, instant food items, oil, sea food, cosmetic, cigarettes and
tobacco etc.
Facilities:
Company has opted in favor of employing the latest and
sophisticated technology for converting flexible packaging materials for the
industries to pack their products. The company has set-up a modern plant at
Ahmedabad, Village Santej, Gujarat (India) having total land 55000 sq. yard
with constructed area of over 100000 sq. ft. for manufacturing of multi layer
flexible packaging material.
The unit is well equipped with Ultra - modern machineries to make flexible
packaging material. They have following machines in their plant:
- 8- Colours Rotogravure Printing machines
(2 Nos.) with Auto Registration (Eltromate) and Web Video
- Solvent base Lamination machines (2 Nos.)
- Nordmeccanica, Italy, Solvent less
Lamination machine
- Slitters
- Pouching Machines
- Standing & Zip Lock Pouching
They have latest and Automatic Pouching machines to keep quality and delivery
commitment of the customers. they make different types of pouches like
Centreseal, Side seal, standy, zipper and off shape pouches. The company's
technical personnel are highly skilled, wo keep abreast of the latest in
technical innovation.
Research & Development Department:
The R&D center all latest testing equipment are used by
skilled technicians with proper documentation under strict internal control.
They are capable to give proper shape to the packaging needs.
They have their own independent designing & creation studio, where customer
comes with an estimate and they give proper packaged shape to their product.
The studio is equipped with all latest designing software, hardware, scanners
etc. to make it a one stop service center for all packaging needs.
They have facility to develop samples, package sizing & filling solutions.
The technicians also recommend material mixtures to get best barrier properties
and quality to get better shelf life of the products with unique pouch
structures.
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.48.79 |
|
UK Pound |
1 |
Rs.75.41 |
|
Euro |
1 |
Rs.61.48 |
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 |
4 |
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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 |
|
44 |
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 |
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