MIRA
INFORM REPORT
|
Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
|
Name : |
UNI COLLOIDS IMPEX PRIVATE LIMITED |
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Registered Office : |
206, (New Office w.e.f. 1st March,
2004) |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
10.04.1990 |
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Com. Reg. No.: |
11-147291 |
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CIN No.: [Company
Identification No.] |
U51909MH2004PTC147291 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU03599B |
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IEC No.: |
0897003918 |
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PAN No.: [Permanent
Account No.] |
AAACU3765B |
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Legal Form : |
Private limited
liability company |
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Line of Business : |
Importer Of Cocoa
Blocks and |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 90200 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced, respectable and having satisfactory means of their
own. Their trade relations are reported as fair. Payments are reported as correct
and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED BY
|
Name : |
Mr. Adnan |
|
Designation : |
Finance Manager |
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Date : |
20.11.2008 |
LOCATIONS
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Registered Office : |
206, |
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Tel. No.: |
91-22-2343 9215 /
2343 0214 / 2342 9872 / 66743000 |
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Fax No.: |
91-22-2343 5976 /
2237 0959 / 66370959 |
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E-Mail : |
uni@bom8.vsnl.net.in
/ unicoll@vsnl.com |
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Area : |
2000 sq.ft. |
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Location : |
Owned |
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Warehouse : |
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Branches : |
4A, 2nd Floor, Shalimar Complex, Mahalaxmi |
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Tel No.: |
91-79-26650741 |
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Fax No.: |
91-79-26621775 |
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Area : |
2000 sq.ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Khatib A.
Valiualla |
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Designation : |
Managing Director |
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Address : |
8 mena Gujari
Co-operative STY. |
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Date of Birth : |
18.02.1970 |
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Qualification : |
B.Com |
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Experience : |
12 years |
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DIN No.: |
00150681 |
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Date of Appointment : |
02.07.2004 |
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Name : |
Mr. Amaluddin M. Valiualla |
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Designation : |
Director |
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Address : |
Rashid Mansion,
Flat No – 4, Samuada Estate, Worli Point, Mumbai -400018, Maharashtra, India. |
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Date of Birth : |
01.03.1929 |
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Qualification : |
H.S.C |
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Experience : |
54 years |
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DIN No. : |
00150600 |
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Date of Appointment : |
02.07.2004 |
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Name : |
Mr. Aziz A.
Valiualla |
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Designation : |
Director |
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Address : |
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Date of Birth : |
19.06.1956 |
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Qualification : |
T. Y. B.com |
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Experience : |
24 years |
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DIN No. : |
00150519 |
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Date of Appointment : |
02.07.2004 |
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Name : |
Mr. Farooq
Valiualla |
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Designation : |
Director |
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Address : |
Worli Point, Rashid
Mansion, Samunder Estate, Dr.Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India. |
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Date of Birth : |
01.04.1957 |
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Qualification : |
T. Y. B.com |
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DIN No.: |
00150560 |
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Date of Appointment : |
02.07.2004 |
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Name: |
Mr. Anwar M. Valiualla |
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Designation: |
Director |
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Address : |
8 Mena Gurjari
Co-operative STY, |
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Date of Birth
: |
21.07.1942 |
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Qualification : |
B.Sc |
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Experience : |
41 years |
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DIN No.: |
00150638 |
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Date of
Appointment : |
02.07.2004 |
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Name: |
Mr. Sarafaraz M.
Valiualla |
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Designation: |
Director |
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Address : |
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Date of
Appointment : |
10.04.1990 |
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Name : |
Mr. Abbas Z.
Haveliwala |
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Designation : |
Director |
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Address : |
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Date of Birth
: |
22.09.1959 |
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Qualification
: |
Master in
Marketing, B.Sc |
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Experience : |
25 years |
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DIN No.: |
00152516 |
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Date of
Appointment : |
02.07.2004 |
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Name : |
Mr. Farooq A.
Valiulla |
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Designation : |
Director |
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Address : |
4 Rashid Mansion,
Samander Estate, Worli Point, Mumbai – 400018, |
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Date of Birth
: |
01.04.1957 |
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Qualification
: |
B.Com |
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Experience : |
26 years |
KEY EXECUTIVES
|
Name : |
Mr. J. Kamath |
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Designation : |
Marketing Manager |
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Name : |
Mr. R.
Dhunvavwala |
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Designation : |
Marketing Manager |
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Name : |
Ms. Vandana Selat |
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Designation : |
Business
Development Manager |
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Name : |
Mr. M. Poonawala |
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Designation : |
Sales Executive |
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Name : |
Ms. Priya Kamat |
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Designation : |
Sales
Co-ordinator |
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Name : |
Ms. Aaliya Nagvi |
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Designation : |
Sales Coordinator |
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Name : |
Ms. Tasneem
Zoomerwala |
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Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
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No. of Shares |
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Mr. Anwar Mohd.
Valiulla |
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9786 |
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Mr. Khatib A.
Valiulla |
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3500 |
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Mr.Sajid A.
Valiulla |
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2000 |
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Mr. Amluddin
Mohd.habib Valiulla |
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33089 |
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Mr. Farooq A.
Valiulla |
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24245 |
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Mr. Aziz A. Valiulla |
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14750 |
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Mr. Majeda F.
Valiulla |
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5250 |
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Mr. Mahera A.
Valiulla |
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2625 |
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Mr. Amina A.
Valiulla |
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2500 |
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Mr. Saheda K. Valiulla |
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2500 |
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Mr. Rushada S.
Valiulla |
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1250 |
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Mr. Kheirunnisa
A. Valiulla |
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2500 |
List of Allottee as on 30.03.2007
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Names of Allottees |
No. of Shares |
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Mr. Sajid A. Valiulla |
2000 |
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Mr. Rusida Sajid valiulla |
1250 |
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Total |
3250 |
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Category |
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Percentage of
Holding |
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Directors or
relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer Of
Cocoa Blocks and |
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Brand Name : |
“MAJULAH” “SELBOURNE” |
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Agencies Held : |
Ø
KL –
Kepong Cocoa Products – Ø
CNI –
France Ø
Majulab
Cocoa Products – Ø
Tate
& Lyle – Ø
Plantextlakt
– Ø
Steans
& Lahman – Ø
Krevit
– Ø
Syral-France Ø
ID
Foods - |
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Imports : |
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Products : |
Ø
Cocoa
Blocks |
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Countries : |
Ø
Ø
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Terms : |
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Selling : |
Cash, Credit (30 days ) |
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Purchasing : |
L/C, Cash / Credit (90-180 days) |
GENERAL INFORMATION
|
Suppliers : |
Ø
Godrej
Pillsbury Limited Ø
Amylum,
Ø
Amylum,
The Ø
Majulal
Koke Tanan Sdn. Bhd. Ø
KL-Kefeng
Cocoa Pro Sdn. Bhd. |
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No. of Employees : |
21 (in officec17
+ 04 in branch ) |
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Bankers : |
Ø
Bank
of Kamoor House, Mandvi Branch, Mumbai – 400 003, Ø
Union
Bank of Mumbai Branch, Ahmedabad Branch Ø
Standard
Chartered Bank SME Credit, 23-25, |
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Facilities : |
Secured Loan
Unsecured Loan
Ø
They
enjoy Rs.20.000 Millions Letter of Credit and Rs.9.000 Millions Overdraft
facilities from its bankers. (Standard Chartered Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S Y Nulwala and
Company Chartered
Accountant |
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Address : |
283, Samuel
Street, Devkaran Nivas, 2nd Floor, office No.9, Vadgadi, Mumbai
-400003,Maharashtra, India. |
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Tel No.: |
91-22-23446006 /
40232322 |
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Email : |
synulwalla@rediffmail.com |
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Associates/Subsidiaries : |
1)
Abdullabhai
Abdul Kader: - Is in business over 133 years in exports and also into
manufacturing and the companies are promoted by Valiulla family. Export of
various Agro, Textile based commodities to 2)
Kauser
Textiles: - Export of traditional Handicrafts, Textiles and its accessories
to |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15,000 |
Equity Shares |
Rs.100.00 each |
Rs. 1.500 millions |
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Add :- Increased
during year |
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|
135000 |
Equity Shares |
Rs.100.00 each |
Rs.13.500 Millions |
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Total |
|
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2265 |
Equity Shares |
Rs.100.00 each |
Rs. 0.226
millions |
|
56625 |
Equity Shares |
Rs.100.00 each |
Rs.5.662 Millions |
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Total |
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Rs.5.888 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.889 |
5.889 |
0.227 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.151 |
8.638 |
11.752 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.040 |
14.527 |
11.979 |
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LOAN FUNDS |
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1] Secured Loans |
9.206 |
2.988 |
0.000 |
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2] Unsecured Loans |
18.743 |
3.773 |
3.638 |
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TOTAL BORROWING |
27.979 |
6.761 |
3.638 |
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DEFERRED TAX LIABILITIES |
0.050 |
0.046 |
0.058 |
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TOTAL |
46.039 |
21.334 |
15.675 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.259 |
1.195 |
1.283 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
13.031 |
6.505 |
0.0005 |
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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 |
0.000
|
23.514 |
11.442 |
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Sundry Debtors |
0.000
|
9.953 |
9.161 |
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Cash & Bank Balances |
0.000
|
0.212 |
4.451 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
50.183
|
4.618 |
5.890 |
|
Total
Current Assets |
50.183
|
38.297 |
30.944 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
18.434
|
20.359 |
13.612 |
|
|
Provisions |
0.000
|
4.304 |
2.945 |
|
Total
Current Liabilities |
18.434
|
24.663 |
16.557 |
|
|
Net Current Assets |
31.749
|
13.634 |
14.387 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.039 |
21.334 |
15.675 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
149.430 |
99.957 |
83.559 |
|
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Other Income |
2.004 |
2.137 |
2.623 |
|
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Total Income |
151.434 |
102.094 |
86.182 |
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|
Profit/(Loss) Before Tax |
6.076 |
6.076 |
5.026 |
|
|
Provision for Taxation |
1.874 |
3.528 |
0.607 |
|
|
Profit/(Loss) After Tax |
4.202 |
2.548 |
4.419 |
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Expenditures : |
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Administrative Expenses |
17.001 |
13.453 |
9.986 |
|
|
Depreciation & Amortization |
0.357 |
0.359 |
0.364 |
|
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Other Expenditure |
127.996 |
82.206 |
70.806 |
|
Total Expenditure |
145.356 |
96.018 |
81.156 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
2.77
|
2.49 |
5.12 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
100.00
|
6.07 |
6.01 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.42
|
13.20 |
15.59 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.41 |
0.41 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.57
|
2.16 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
|
2.72
|
1.55 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
Ø
Barry Callebaut
Ø
Majulah Koko Tawau SDN.BHD.
|
Corporate identity
number (CIN) Foreign company registration number |
U51909MH2004PTC147291 |
|
Name of the
Company |
UNI COLLOIDS IMPEX PRIVATE LIMITED |
|
Address |
206, |
|
This form is for |
Creation OF
Charge |
|
Type of Charge |
Hypothecation |
|
Whether
consortium finance is involved |
No |
|
Number of charge
holder(s) |
1 |
|
Particulars of
the charge holder |
Standard
Chartered Bank 23 – 25, M |
|
Nature or
description of the instrument creating charge |
Agreement of
Hypothecation of stocks and Book Debts |
|
Amount secured by
the charge |
Rs. 25.000 millions
|
|
Brief of the principal
terms and conditions |
Overdraft
Facility Rs. 5.000 millions; LC Facility (1): Rs. 12.000 millions; Import LC
Facility (2): Rs. 8.000 millions; Overdraft facility to meet the working
capital requirement of the Company.
Import LC for import of Coca products and food ingredients; Interest
Rate: 11.00% p.a. on monthly rest on the Overdraft facility. These rate are subject to change at the
discretion of the Bank and are also subject to guidelines issued by regulatory
authorities. |
|
Description of
the property charged indicating whether it is a charge on |
Stock in trade
and Book Debts |
|
Particulars of
the property charged |
Hypothecation by
way of first charge on: Stocks: All
present and future stock in trade and Book Debts: All present
and future book debts. |
|
Date of
Instrument |
27.07.2006 |
|
Whether the
property is registered in the name of the company |
Yes |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10015221 |
|
Corporate
identity number of the company |
U51909MH2004PTC147291 |
|
Name of the
company |
UNI COLLOIDS IMPEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
206, |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Standard
Chartered Bank SME Credit, 23 –
25, M |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement (Supplemental) |
|
Date of instrument
Creating the charge |
21.08.2008 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest OD Rs. 9.000
Millions, Import letter of credit Rs.20.000 Millions, Forex eorward LER
Rs.1.000 Millions. Interest/
commission –As agreed by and with the bank from time to time. Terms of repayment As agreed by and
with the bank from time to time Margin As applicable, if
any Extent and operation of the charge The bank is
having first charge on the security offered by the company |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge on a) all the stock
in trade both present and future consisiting of of raw materials,
finished goods, goods in process of manufacturing and other merchandise b)
all the present and future book debts, outstanding moneys receivable, claims
and bills. C) all the movables fixed assets. |
The company was originally
registered at
The business
portfolio’s for the below mentioned products groups for which market on behalf
of manufacturers and traders from various countries: -
v
Commodity
Chemicals – FCL’s – import / export
v
Speciality
/ Performance Chemicals
v
Food
Ingredients / Feed Chemicals
v
Food
Products
v
Nutraceutical
Ingredients
Generic Name of the
Principal Product/Service of the Company is:
v
Trading
The company is in
trade terms with :-
KL-Kepong
Products :- Cocoa Powder,
Covering Chocolate, Milk Chocolate
Applications :-
Confectionery, Pastries, Cream fillings, Chocolate truffle, Candy centre,
Ice-cream coating, Icings, Fatbased syrups and paste, Fudge base, Frostings,
Chocolate Milk.
Amylum
Products: -
Modified Wheat and Corn Starches, Vital Wheat Gluten.
Applications: -
Processed Fruit and Foods, Wheat Proteins in Meat, Starches – Sweetners and
Proteins, Wheat Gluten for Bakery and Feeds.
Majulah Koko Tawau SB. –
Products: - Cocoa
Powder
Applications: -
Confectionery, Pastries, Ice-cream coating, Icings, Fat based syrups and Paste,
Fudge base, Frost Ings, Chocolate Milk.
Matsumura Oil Research
Corporation –
Products: -
Petroleum Sulphonates, Hydraulic Fluid.
Applications: -
Lubricants
New Zealand Pharmaceuticals
Limited –
Products: - Mixed
Bile Acids
Applications: -
Aqua and Poultry Feeds
Thai Polyphosphate and
Chemicals Company Limited
Products: - Food
Grade Phosphates – STPP, SHMP, SAPP, TSPP
Applications: - Sea
Food, Meat, Confectionery
Rhodia Chemicals India Limited
–
Products: - Food
Grade Phosphates – STTP, SHMP, SAPP, TSPP
Applications :- Sea
Food, Meat, Confectionery
Luijckx Chocolate – The
Products: -
Chocolate Decorations
Applications –
Confectionery, Pastries, Ice-cream coating, Icing, and Fat based syrups and
Paste, Fudge base, Frostings
Wilton Industries Inc. –
Products: - Cake Decorations
– Colours, Jels and Candy Melts
Applications: -
Confectionery, Pastries
Fresh Food Industries Pty.
Limited –
Products: - Baked
Stable Fillings – Apricot, Blueberry, Ras Plum, Lemon, Raspberry, Strawberry
Applications: -
Cakes and Chocolates
TRADE REFERENCES:
Ø
Unilivers
Ø
Nestle
Ø
GSK,
The company’s Fixed Assets of important
value includes:
Ø
Computers
Ø
Furniture
and Fixtures
Ø
Office
Equipments
Ø
Fax
Machine
Ø
Air
Conditioner
Ø
Facsimile
Machine
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 50.03 |
|
|
1 |
Rs. 74.42 |
|
Euro |
1 |
Rs. 62.71 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|