MIRA
INFORM REPORT
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Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
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Name : |
UNNATI WRITING PRODUCTS PRIVATE LIMITED |
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Registered Office
: |
22, Buroshibtolla Main Road, Kolkata – 700038, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.03.2008 |
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Com. Reg. No.: |
124587 |
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CIN No.: [Company Identification
No.] |
U74990WB2008PTC124587 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALU03257C |
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PAN No.: [Permanent Account No.] |
AAACU9771H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Ball Pens |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 129076 |
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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 a company having satisfactory track. Trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company 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 |
INFORMATION PARTED BY
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Name : |
Mr. Gaurav |
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Designation : |
CEO |
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Contact No.: |
91-9830032962 |
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Date : |
21.04.2011 |
LOCATIONS
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Registered Office : |
22, Buroshibtolla Main Road, Kolkata – 700038, West Bengal, India |
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Tel. No.: |
91-33-22401832 |
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Mobile No.: |
91-9830032962 (Mr. Gaurav) |
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Fax No.: |
91-33-24001832 |
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E-Mail : |
R_s_associates9@yahoo.co.in |
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Location : |
Owned |
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Factory 1 : |
36, Buroshibtolla Main Road, Kolkata – 700038, West Bengal, India |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Raj Kumar Goyal |
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Designation : |
Director |
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Address : |
2B, Lansdowne Place, Kolkata – 700029, West Bengal, India |
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Date of Birth/Age : |
01.07.1962 |
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Date of Appointment : |
28.03.2008 |
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Name : |
Mr. Sudarshan Gupta |
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Designation : |
Director |
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Address : |
P-9 Unique Park, Kolkata – 700034, West Bengal, India |
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Date of Birth/Age : |
03.04.1955 |
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Date of Appointment : |
28.03.2008 |
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Name : |
Mr. Suranjan Gupta |
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Designation : |
Director |
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Address : |
P-27A Unique Park, Kolkata – 700034, West Bengal, India |
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Date of Birth/Age : |
15.06.1960 |
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Date of Appointment : |
28.03.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Raj Kumar Goyal |
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18000 |
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Sudarshan Gupta |
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38500 |
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Suranjan Gupta |
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18500 |
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Crawford Marketing Private Limited, West Bengal |
|
16000 |
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Balkash Exim Private Limited, West Bengal |
|
36000 |
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Budapest Traders Private Limited, West Bengal |
|
16000 |
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Engee Management Consultants Private Limited, West Bengal |
|
10000 |
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Dhanvanti Commodities Private Limited, West Bengal |
|
10000 |
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Shagun Shree Construction Private Limited, West Bengal |
|
10000 |
|
Shree Ganesh Enclave Private Limited, West Bengal |
|
10000 |
|
Rodrifues Impex Private Limited, West Bengal |
|
10000 |
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Lifeline Commotrade Private Limited, West Bengal |
|
16000 |
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Deesha Tie-UP Private Limited, West Bengal |
|
14000 |
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Sharma Sundar Shyam |
|
1500 |
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Pradeep Trade and Credit Private Limited, West Bengal |
|
2000 |
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Ankit Commotrade Private Limited, West Bengal |
|
9000 |
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Maple Mercantile Private Limited, West Bengal |
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10000 |
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Vighuhar Marketing Private Limited, West Bengal |
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10000 |
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Garodia Securities Limited, West Bengal |
|
16900 |
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Ramarpit Fiscal Private Limited, West Bengal |
|
16000 |
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Shyam Gupta |
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42000 |
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Vinay Gupta |
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28000 |
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Gourav Gupta |
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30000 |
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Ranks Fiscals Private Limited, West Bengal |
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90000 |
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Rashmi Tie-UP Private Limited, West Bengal |
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10000 |
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Manpasand Agency Private Limited, West Bengal |
|
10000 |
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Vico Syntex Private Limited, West Bengal |
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10000 |
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Mubarak Lubricant Private Limited, West Bengal |
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15000 |
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Total |
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523400 |
List of Allottee as on 05.10.2010
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Names of |
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No. of Shares |
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Bancon Resources Private Limited, Kolkata |
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10000 |
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Remix Dealers Private Limited, Kolkata |
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10000 |
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Vincash Resources Private Limited, Kolkata |
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10000 |
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Trammel Trading Private Limited, Kolkata |
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10000 |
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Punya Leather Private Limited, Kolkata |
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10000 |
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Ziwani Barter Private Limited, Kolkata |
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10000 |
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Total |
|
60000 |
AS ON 30.09.2010
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Category |
Percentage |
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Bodies corporate |
66.27 |
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Directors or relatives of Directors |
33.44 |
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Other top fifty shareholders |
0.29 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Ball Pens |
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Terms : |
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Purchasing : |
Depend on party |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
80 (in office + in factory) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Agarwal and Agarwal Chartered Accountant |
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Address : |
74, Bentick Street, Kolkata – 700001, West Bengal, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,78,400 |
Equity Shares |
Rs.10/- each |
Rs. 4.784 Millions |
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Note – Including 48,000 equity shares allotted as
fully paid up Pursuant to a contract without payment being received in cash
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.784 |
3.815 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.485 |
18.544 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.001) |
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NETWORTH |
32.269 |
22.359 |
0.099 |
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LOAN FUNDS |
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1] Secured Loans |
34.225 |
24.507 |
0.000 |
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2] Unsecured Loans |
21.905 |
15.741 |
0.000 |
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TOTAL BORROWING |
56.130 |
40.248 |
0.000 |
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DEFERRED TAX LIABILITIES |
1.619 |
1.159 |
0.000 |
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TOTAL |
90.018 |
63.766 |
0.099 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
31.476 |
33.898 |
0.000 |
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Capital work-in-progress |
1.010 |
2.716 |
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 |
29.205
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21.504 |
0.000 |
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Sundry Debtors |
20.267
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10.015 |
0.000 |
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Cash & Bank Balances |
11.915
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5.892 |
0.100 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
18.071
|
2.545 |
0.000 |
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Total
Current Assets |
79.458
|
39.956 |
0.100 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
20.670
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12.166 |
0.167 |
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Other Current Liabilities |
1.017
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0.638 |
0.000 |
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Provisions |
0.239
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0.000 |
0.000 |
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Total
Current Liabilities |
21.926
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12.804 |
0.167 |
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Net Current Assets |
57.532
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27.152 |
(0.067) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.166 |
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TOTAL |
90.018 |
63.766 |
0.099 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Turnover |
170.088 |
138.869 |
NA |
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EXPENSES |
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TOTAL |
162.661 |
133.407 |
NA |
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PROFIT BEFORE
TAX |
7.427 |
5.462 |
(0.001) |
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Less |
TAX |
2.361 |
1.777 |
-- |
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PROFIT AFTER TAX
|
5.066 |
3.685 |
(0.001) |
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Earnings Per
Share (Rs.) |
12.76 |
23.43 |
--- |
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Expected Sales (2010-2011) : Rs. 220.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
3.93 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.69
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7.39 |
(1.00) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.24 |
(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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2.41
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2.37 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
|
3.62
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3.12 |
0.59 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
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Corporate
identity number of the company |
U74990WB2008PTC124587 |
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Name of the
company |
UNNATI WRITING PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
22, Buroshibtolla Main Road, Kolkata – 700038, West Bengal, India |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property Book debts Floating charge |
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Particular of
charge holder |
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Nature of
instrument creating charge |
General letter of
Hypothecation dated 01.11.2010. |
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Date of instrument
Creating the charge |
01.11.2010 |
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Amount secured by
the charge |
Rs. 50.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit- BR+3.0%p.a.w.m.r
(presently BR at 8.50% p.a.w.m.r) Terms of
Repayment Cash Credit-On
Demand Margin Cash Credit-25%
on stock & Book debts upto 90 Days Extent and
Operation of the charge Cash
Credit-Rs.50.000 millions First hypothecation
charge over the entire current assets of the company including stock of raw
materials,stock in process,finished goods and book debts,both present and
future.(2nd charge being with WBFC) Others Nil |
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Particulars of
the property charged |
Exclusive
mortgage charge over property at Premises no.19,Unique Park ,Flat no.3B,3rd
Floor,Western side,P.S.Behala ,Kolkata-34 valuing Rs.28.99 lacs as per
valuation report dated 21.09.2010 2nd charge over
the fixed assets both present and future of the unit's factory at 238 Roy
Bahadur Road P.S Behala, Kol-53 & at 22 & 36 Buroshibtolla Main Road
Kolkata-38.(1st charge being with WBFC) Pledge of RD of
Rs.1 lac per month for the period of 5 years. Pledge of LIC of
3 directors with premium of Rs.0.150 Million Pledge of Fixed
Deposit of Rs.8.000 Millions Personal
guarantee of the directors and owner of the property |
Trade References
·
Cello
·
Rotomac
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.44.38 |
|
|
1 |
Rs.73.87 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
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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 |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.