MIRA
INFORM REPORT
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Report Date : |
25.04.2011 |
IDENTIFICATION DETAILS
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Name : |
DEEPA BUILDING SYSTEMS |
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Registered
Office : |
No.2, 7th “D” Main. |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer of a wide range of Aluminum systems. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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 50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietory concern having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
No.2, 7th “D” Main. |
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Tel. No.: |
91-80-23475964 |
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Mobile No.: |
91-9845012686 (Mr. Vinod Uthappa) |
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Fax No.: |
91-80-23475964 |
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E-Mail : |
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Website : |
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Area : |
7000 sq. ft |
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Location : |
Rented |
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Branches : |
Chennai (Tamil Nadu) |
SOLE PROPRIETOR
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Name : |
Mrs. Deepa Uthappa |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Vinod Uthappa |
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Designation : |
Chief Excutive |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Graduate |
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Experience : |
11 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of a wide range of Aluminum systems. |
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Services : |
Built
to Last: Being a privately owned company we focus on long lasting relations and alliances with our customers. We offer consistent quality with endless variety.
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Local |
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Purchasing : |
Direct (150 Days) Local Purchase – 30 Days |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50, (Approximately) |
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Bankers : |
Bank of Baroda, |
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Facilities : |
About Rs. 10.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M/s Vishnudaya and Company Chartered Accountant |
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Address : |
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Memberships : |
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CAPITAL STRUCTURE
As on 31.03.2011
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Capital Investment : |
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Owned : |
Rs. 12.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 12.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 (Provisional) |
31.03.2010 |
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Sales Turnover |
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70.000 |
45.000 |
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Profit/Loss for the year |
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About 10 to 12% |
About 10 to 12% |
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CIF Value |
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About 40% of Turnover |
About 40% of Turnover |
Average Value of Inventories at any given time Rs. 10.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Business:
Subsequently they forayed into new age window and door framing range of
products to cater to the market requirements. Presently subject is engaged in
the activity of designing and manufacturing UPVC/ PVC doors and Windows,
offering a host of models/ products for multi various end users products
conform to EN – A C Rtications and ISO : 9001 certifications with quality
guarantee from 10 to 20 Years. Range
includes Sliding Flyscreen system, Large Scale elements, Façade projections,
Web Details:
Profile:
Sliding
Flyscreen System:
Subject has proved its difference with the genuine design of Sliding Flyscreen System which is one of the most significant necessities in the sector. The right of the design for Sliding Flyscreen system belongs to Ege Profile and has many advantages compared to conventional flyscreen systems.
Sliding Flyscreen System is composed of
the sash profile, the transom profiles and two different types of rail profile.
The big rail (38mm) is used for double rail frame and the small rail (22mm) is
used for single rail frame. Sliding Flyscreen System absolutely prevents the
entry of flies and other insects with double brush application in compliance
with the production details.
It is the only Sliding Flyscreen System with the possibility to be
laminated completely. It may be coated with the same color as the window;
therefore, it provides a visual integrity.
Built to last
Subject has an infinite range of design options irrespective of the item concerned: large scale elements, facade projections, or normal windows and doors of all shapes and sizes.
Their profiles are galvanized-steel reinforced for maximum strength, durability and security. The profiles are built to last with welded or mechanically joined mullions and transoms.
Choose to Grow to a
new Dimension
Tropical
Mix
Profiles are made by Tropical Mix compound. This compound is specially engineered for high UV radiation areas. Tropical mix allows resisting for a long period on high UV radiation and heat.
Elegant and Long
lasting
They are termite and fungal resistant, fire retardant, and no painting or varnishing required
Economical
The Subject products are comparatively economical in comparison to the other products available in the market. Their products also help in bringing down, heating, cooling and lighting costs.
Customized
Window
Whether its with regard to design, specification, color or finish each window is tailor made according to the requirement. You can virtually have any width and height you need.
Maintenance Free
Its smooth surface makes it very easy to clean. No fading or discoloration hassles, they are even dirt resistant as there are no open pores.
Easy To Install
Any automated or manual processing is possible. It is thus
very easy and quick to install.
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 |
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US Dollar |
1 |
Rs.44.30 |
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|
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.69 |
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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.