MIRA
INFORM REPORT
|
Report Date : |
11.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED COOLING SYSTEMS PRIVATE LIMITED |
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Registered Office : |
5B/ 1, Madukkarai Road,
Sundarapuram, Coimbatore – 641024, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.12.1994 |
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Com. Reg. No.: |
5611 |
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CIN No.: [Company
Identification No.] |
U36993TZ1994PTC005611 |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
Manufacturer and Exporter of Cooling Towers, Heat Exchangers, Oil
Coolers, Finned Coolers, Compressed Air Dryers, Maintenance Chemicals and
Domestic Water Softeners. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small company
having no significant track. No payments are available. The company can be
considered for small to mediocre business dealings on safe and secured trade
terms and conditions. |
LOCATIONS
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Registered Office : |
5B/ 1, Madukkarai Road,
Sundarapuram, Coimbatore – 641024, Tamil Nadu |
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Tel. No.: |
91-422-2673175 |
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Mobile No.: |
91-9843022175/ 9443301342 |
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Fax No.: |
91-422-2670982 |
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E-Mail : |
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Factory : |
7, AVG Layout, Opposite
- Titan Paints Gate, P B No. 4804, Sundarapuram, Coimbatore – 641024, Tamil Nadu |
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Tel. No.: |
91-422-2670982/2673175/
6548552/ 2671175 (R) |
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Fax No.: |
91-422-2670982 |
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Mobile No : |
91-9843022175/ 9443301342 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. V Krishnavelu |
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Designation : |
Director |
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Address : |
Old No. B10, New
No. 29B, K V K Nagar, SIDCO Post, Sundarapuram, Coimbatore – 641021, Tamil Nadu |
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Date of Birth/Age : |
19.07.1961 |
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Date of Appointment : |
16.12.1994 |
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Name : |
Mr. P Charles Daniel |
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Designation : |
Director |
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Address : |
3 – A, Palaniappa Layout,
SIDCO Post, Coimbatore – 641021, Tamil Nadu |
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Date of Birth/Age : |
26.07.1965 |
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Date of Appointment : |
16.12.1994 |
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Name : |
Ms. N Anusuya Devi |
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Designation : |
Director |
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Address : |
Old No. B10, New
No. 29B, K V K Nagar, SIDCO Post, Sundarapuram, Coimbatore – 641021, Tamil Nadu |
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Date of Birth/Age : |
09.06.1968 |
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Date of Appointment : |
16.12.1994 |
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Name : |
Ms. N Rita Sharmila |
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Designation : |
Director |
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Address : |
3 – A, Palaniappa
Layout, SIDCO Post, Coimbatore – 641021 |
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Date of Birth/Age : |
14.09.1971 |
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Date of Appointment : |
16.12.1994 |
KEY EXECUTIVES
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Name : |
Mr. V. Krishnavelu |
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Designation : |
Director – Marketing Services |
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Mobile No : |
91-9843022175/ 9443301342 |
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Address : |
Old No. B10, New
No. 29B, K V K Nagar, SIDCO Post, Sundarapuram, Coimbatore – 641021, Tamil Nadu |
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Date of Birth/Age : |
19.07.1961 |
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Date of Appointment : |
16.12.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of
Shareholders |
No. of Shares |
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Mr. V Krishnavelu
|
4500 |
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Mr. P Charles
Dantel |
2500 |
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Ms. N Anusuya
Devi |
2500 |
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Ms. N Rita
Sharmila |
500 |
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Total |
10000 |
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Equity share breakup (percentage of total
equity) |
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Category |
Percentage |
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Directors or
relatives of directors |
100 |
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Total |
100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Cooling Towers, Heat Exchangers, Oil Coolers, Finned Coolers,
Compressed Air Dryers, Maintenance Chemicals and Domestic Water Softeners |
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Products : |
Cooling Tower Heat Exchangers Oil Coolers Finned Coolers Domestic Water Softeners |
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Exports : |
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Countries : |
World wide |
GENERAL
INFORMATION
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Customers : |
v sSrihari Mills v
Kumaran Spinning Mills v
Ragavan Industries v
Krishnakumar v
Rajam Textiles |
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No. of Employees : |
60 |
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Bankers : |
Indian Bank, Raja Street,
Coimbatore – 641 001, Tamilnadu, India |
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Facilities : |
Secured Loan Cash Credit – Indian Bank
– Rs. 0.391 Millions Hypothecation of stock
and receivable Medium Term Loan – Rs.
0.422 Millions Total – Rs. 0.813 Millions |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
R Kannan & Associate
(A Jayachandran, Partnetr) Chartered Accountant |
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Address : |
33, Devanga High School Raoad, Coimbatore – 641 002, Tamilnadu |
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Tel. No.: |
91-22-2474786 |
CAPITAL STRUCTURE
(As On 28.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(0.029) |
(0.040) |
(0.036) |
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NETWORTH |
0.071 |
0.060 |
0.064 |
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LOAN FUNDS |
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1] Secured Loans |
0.823 |
0.814 |
0.815 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.823 |
0.814 |
0.815 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.894 |
0.874 |
0.879 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.022 |
0.024 |
0.026 |
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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 |
0.400
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0.200
|
0.186 |
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Sundry Debtors |
0.202
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0.418
|
0.413 |
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Cash & Bank Balances |
0.026
|
0.005
|
0.004 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.266
|
0.243
|
0.262 |
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Total
Current Assets |
0.894
|
0.866
|
0.865 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.000
|
0.000
|
0.000 |
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Provisions |
0.022
|
0.016
|
0.012 |
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Total
Current Liabilities |
0.022
|
0.016
|
0.012 |
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Net Current Assets |
0.872
|
0.850
|
0.853 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.894 |
0.874 |
0.879 |
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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 |
2.728 |
0.568 |
0.577 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
2.728 |
0.568 |
0.577 |
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Profit/(Loss) Before Tax |
0.017 |
(0.004) |
(0.004) |
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Provision for Taxation |
0.006 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
0.011 |
(0.004) |
(0.004) |
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Expenditures : |
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Other Expenditure |
0.000 |
0.000 |
0.000 |
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Total Expenditure |
2.711 |
0.752 |
2.711 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
040 |
0.70 |
0.69 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.62 |
0.70 |
0.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.01 |
0.44 |
0.00 |
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Return on Investment (ROI) (PBT/Networth) |
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0.23 |
0.06 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.90 |
13.83 |
12.92 |
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Current Ratio (Current Asset/Current Liability) |
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40.63 |
54.12 |
72.08 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Websites
In this fast
growing world, in shortage of time, all are searching for a one-stop place for their
requirement. If all their requirements are satisfied in one place, that is all
under one roof, they will be very happy. Today expert's right choice for their
search of A to Z in a cooling system is subject. They are one of the world's
largest providers of a total cooling Systems. It means the Cooling Towers, Heat
Exchanger, Oil cooler, finned coolers, Compressed Air driers and even all types
of maintenance chemicals. It is true that mere producing add supply will not
fulfill an ultimate consumer's hunger. Life long solution for his problems is
the responsibility of a genuine manufacturer.
Subject was
Established from 1980, in its three decades of existence with 30 years
experienced team of experts background, the company is dedicating its service
to the country in designing, manufacturing of an optimum model cooling Towers,
Heat Exchangers, Oil Coolers, Compressed air driers and Domestic water
softeners.
Since subject is
manufacturing all the relevant Products in a cooling System requirements of process
Industries, Generators, Foundries, Pharmaceuticals, Cements, Sugars, hotels,
Compressors, Steel, refrigeration, power plants and refineries. It will be easy
for you to download the requirements and headaches with them. And also this
company is not only involving in manufacturing but also take care in
renovation, servicing, remodeling of the cooling systems including periodical
maintenance and services. The Company assists you in selecting the proper model
and size of cooling Tower. That is based on the location and atmospheric
conditions. they suggest wet cooling Tower or Dry Cooling Towers [Air cooled
type]. And also the company undertakes the total jobs in turnkey basis from
manufacturing erection and commissioning of cooling Towers, pipelines, Heat Exchangers
oil coolers up to the satisfactory performance. The exclusive specialty of this
company is full pledged in all plant R and D and thorough quality Control and
keen watching from sourcing of Raw material design, manufacturing company and
to life time of the product. Round the clock customer service cell is also
waiting to get counsels the queries.
Subject for all the
new requirements, services, maintenance and free suggestions for renovation at
all times. There will be no necessity to our customer to stand in front of any
other supplier's gate for anything.
Form 8
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
90327606 |
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Corporate
identity number of the company |
U36993TZ1994PTC005611 |
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Name of the
company |
United Cooling
Systems Private Limited |
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Address of the
registered office or of the principal place of business in India of the company |
5B/1, Madukkarai
Roadsundarapuram, Coimbatore – 641 024, Tamil Nadu, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Indian Bank Raja Street,
Coimbatore – 641 001, Tamil Nadu, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movables dated 17/04/2008 – for OCC-I Rs.0.400 Million Agreement of
Hypothecation of Moveable dated 17/04/2008 – for OCC-I Rs.0.600 Million |
|
Date of
instrument Creating the charge |
17.04.2008 |
|
Amount secured by
the charge |
Rs.1.000 Million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of
interest for OCC-I for Rs.0.400 Million is BPLR-1.50% (i.e) 11.00% at present The rate of
interest for OCC-I for Rs.0.600 Million is BPLR (i.e) 11.00% at present Terms of
Repayment On Demand Margin For OCC I =
Margin 25% For OCC II =
Margin 25% Extent and
Operation of the charge Hypothecation of
all the movables of the company (present and future) Others |
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Short particulars
of the property charged |
Movables of the
company (present and future) situated at No.7, Sundarapuram PO, Coimbatore
-24 |
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Date of latest
modification prior to the present modification |
19.06.2000 |
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Particulars of
the present modification |
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Fixed Assets
v
Plant and Machinery
v
Fax Machine
v
Furniture and Fixture
v Computer
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.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
19 |
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 |
|