MIRA
INFORM REPORT
|
Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
UNITED AIR TECH |
|
|
|
|
Registered Office : |
F- 79, Solaris – 1, Opposite L and T Gate No.6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
2004 |
|
|
|
|
IEC No.: |
0305022920 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAGPS6182H |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer of Air Pollution Control Equipments. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established concern having satisfactory track records.
Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED BY
|
Name : |
Mr. Madhusudar |
|
Designation : |
Accountant Manager |
|
Date : |
18.10.2008 |
LOCATIONS
|
Registered Office / Factory : |
F- 79, Solaris – 1, Opposite L and T Gate No.6, Powai Saki Vihar Road,
Mumbai 400072, Maharashtra, India. |
|
Tel. No.: |
91-22-2857115/26/ 77 |
|
Fax No.: |
91-22-2871126/51/77 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq ft |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Shrinivas Salian |
|
Designation : |
Proprietor |
|
Address : |
F- 79, Soalaris – 1, Opposite L and T Gate No.6, Powai Saki Vihar
Road, Mumbai 400072, Maharashtra, India. |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
Diploma |
|
Pan No.: |
AAGPS6182H |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Air Pollution Control Equipments. |
|
|
|
|
Products : |
·
Blowers ·
Fan ·
Industrial Supplies ·
Kitchen System ·
Air Curtain ·
Bag Filter |
|
|
|
|
Terms : |
|
|
Selling : |
Credit ( 30 days/ 60 days ) |
|
|
|
|
Purchasing : |
Credit (30 days / 60 days) |
GENERAL INFORMATION
|
Customers : |
Retailers |
|
|
|
|
No. of Employees : |
50 |
|
|
|
|
Bankers : |
Corporation Bank, Powai |
|
|
|
|
Facilities : |
CC – Rs. 2.500 Millions |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Kishor Kumar and Company Chartered Accountant. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.500 Million |
|
Borrowed : |
Rs. 0.150 Million |
|
Total : |
Rs. 0.650 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
Sales Turnover |
|
|
16.033 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
16.033 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.601 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
0.601 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Administrative Expenses |
|
|
0.004 |
|
|
Purchases made for re-sale |
|
|
13.678 |
|
|
Wages |
|
|
0.563 |
|
|
Electricity Charges |
|
|
0.092 |
|
|
Salaries, Wages, Bonus, etc. |
|
|
0.521 |
|
|
Payment to Auditors |
|
|
0.020 |
|
|
Interest |
|
|
0.290 |
|
|
Depreciation & Amortization |
|
|
0.065 |
|
|
Other Expenditure |
|
|
2.159 |
LOCAL AGENCY FURTHER INFORMATION
|
Additional Requirement of Indiamart for Trust-Seal |
|
|
|
|
|
VAT / TIN : 27070651604V |
|
|
IEC Code : 0305022920 |
|
|
|
|
|
PAN / TAN : AAGPS6182H |
|
|
|
|
|
Bank Name : Corporation Bank |
|
|
Bank Address: Powai. |
|
|
Bank A/c. No.: CC 70001 |
|
|
Account Since : 1 Year |
|
TRUSTSEAL ACCEPTANCE CHART
|
Parameters |
Detail |
|
|
|
|
Existence Verification |
|
|
Name |
UNITED AIR TECH |
|
Address |
F- 79, Solaris – 1, Opp. L and T Gate No.6, Powai Saki Vihar Road,
Mumbai 400072, Maharashtra, India. |
|
2nd Address |
Clipwala Compound, Near L and T, Gate No.7, |
|
Phone / |
91-22-28571126 |
|
Fax Number |
91-22-28571126 |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Proprietorship Firm |
|
Income Tax Registration |
AAGPS6182H |
|
Central Sales Tax Registration |
27060102929C |
|
Import Export Code |
0305022920 |
|
Name of Bank |
Bank Of |
|
Account Since |
2004 |
|
|
|
|
Creditability Factors |
|
|
Years of Establishment |
2004 |
Concern Profile:-
Catering to the industry demands of quality air pollution control
systems, They offer to their clients their valuable industry expertise in the
field of designing, fabrication, supply, erection and commissioning of a wide
range of equipment that are known for their efficiency in controlling the
pollution levels in the air. The products offered by them include centrifugal
blowers, bag filters, axial fans, a wide range of customized pollution control
systems, industrial fans and many more.
Their concern was established at Powai,
Their modern infrastructure facilities featuring well-equipped Production,
Inspection and Testing facilities also assist them in meeting their target
goals.
Today, their consistency in delivering high quality and dependable range of air
pollution control systems and allied accessories at competitive prices have
helped them to emerge as one of the leading suppliers in their industry sector.
Their team of qualified mechanical engineers and well-trained technicians also
assist them in delivering high quality products and services with in the
allotted time frame which in turn also helps them to further consolidate their
position in the domestic and overseas markets.
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.49.29 |
|
UK Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--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 |
|
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 |
|
|
>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 |
|