MIRA
INFORM REPORT
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Report Date : |
01.08.2011 |
IDENTIFICATION DETAILS
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Name : |
UNISTEEL AND ENGINEERING COMPANY PRIVATE LIMITED |
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Registered Office : |
52/52A, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
17.11.1995 |
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Com. Reg. No.: |
11-94565 |
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Capital
Investment/ Paid-up Capital: |
Rs. 0.795
Million |
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CIN No.: [Company
Identification No.] |
U28920MH1995PTC094565 |
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PAN No.: [Permanent
Account No.] |
AAAC42274M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Ferrous and Non Ferrous Metals. |
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No. of
Employees: |
Approximately 45 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 27000 |
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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 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.
INFORMATION PARTED BY
|
Name : |
Ms. Sarika Mudrale |
|
Designation : |
Accountant |
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Contact No.: |
904206968 |
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Date : |
30.07.2011 |
LOCATIONS
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Registered Office: |
52/52A, |
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Tel. No.: |
91-22-23817333/ 23806452/ 66394950 |
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Mobile No.: |
91-9321217176 (Mr. Sachin Shah) |
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Fax No.: |
91-22-23864507 |
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E-Mail : |
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Website: |
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Area : |
1000 Sq. Fts |
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Location : |
Owned |
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Corporate Office : |
Office No.-17 and 13, 3rd
Floor, Alankar Theater Building 245/247, SVP Road, Mumbai-400004,
Maharashtra, India |
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Tel. No.: |
91-22-23806452 |
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Fax No.: |
91-22-23864507 |
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Warehouse : |
Plot No. 1108, Kalmobli District Raigarh, |
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Area : |
2700 Sq. Fts |
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Location : |
Owned |
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At the Directors Office : |
49 A, |
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Tel. No.: |
91-22-23817333 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kishor Pukhra Shah |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
15.08.1970 |
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Qualification : |
B.Com |
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Date of Appointment : |
17.11.1995 |
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DIN No.: |
00712137 |
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Name : |
Mr. Pukhraj Malaji Shah |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
05.03.1949 |
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Qualification : |
Graduate |
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Date of Appointment : |
17.11.1995 |
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DIN No.: |
00712081 |
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Name : |
Mr. Sachin Pukhra Shah |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
20.09.1976 |
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Qualification : |
B.Com |
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Date of Appointment : |
17.11.1995 |
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DIN No.: |
01568346 |
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Name : |
Mrs. Gayatri Pukhra Shah |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
27.02.1968 |
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Qualification : |
B.Com |
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Date of Appointment : |
04.12.2003 |
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DIN No.: |
01568303 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Sachin Shah |
|
500 |
|
Pukhraj Shah |
|
520 |
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Sumermal Shah |
|
510 |
|
Kishore Shah |
|
5760 |
|
Ritesh Shah |
|
500 |
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Pukhraj Shah (HUF) |
|
10 |
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Chunilal Shah |
|
10 |
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Kiran Parmar |
|
10 |
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Saytidevi Shah |
|
10 |
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Pankhiben Shah |
|
10 |
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Gayatri Shah |
|
10 |
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Sumermal Shah (HUF) |
|
10 |
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Rajendra Zuting |
|
10 |
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Anita Doshi |
|
10 |
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Uttam Gems |
|
10 |
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Rinku Shah |
|
10 |
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Rachna Shah |
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10 |
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Bhavrlal Shah |
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10 |
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Manjulaben Shah |
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10 |
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Keshiben Shah |
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10 |
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Shree Nakoda Exports |
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10 |
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Total |
|
7950 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage |
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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 : |
Manufacturer and Trader of Ferrous and Non Ferrous Metals. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Ferrous and non Ferrous Metal |
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Countries : |
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Terms : |
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Selling : |
Credit (Advance) |
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Purchasing : |
Credit (Advance) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Approximately 45 |
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Bankers : |
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Facilities : |
(Cash Credit (Rs. 20.00 Millions approximately) (From Kotak Mahindra
Bank)) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
I C Surana and Company Chartered Accountant |
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Address : |
2nd |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7950 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.795
Million |
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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 |
0.795 |
0.795 |
0.795 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.021 |
4.056 |
2.668 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.816 |
4.851 |
3.463 |
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LOAN FUNDS |
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1] Secured Loans |
1.096 |
1.147 |
1.207 |
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2] Unsecured Loans |
38.619 |
36.322 |
34.308 |
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TOTAL BORROWING |
39.715 |
37.469 |
35.515 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.531 |
42.320 |
38.978 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.813 |
2.760 |
2.821 |
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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 |
3.904
|
4.768
|
21.388
|
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Sundry Debtors |
111.984
|
84.307
|
82.975
|
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Cash & Bank Balances |
0.283
|
6.018
|
0.271
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
8.340
|
5.644
|
0.235
|
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Total
Current Assets |
124.511
|
100.737
|
104.869 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
67.133
|
53.976
|
65.518
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Other Current Liabilities |
12.893
|
4.904
|
1.727
|
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Provisions |
0.767
|
2.297
|
1.467
|
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Total
Current Liabilities |
80.793
|
61.177
|
68.712
|
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Net Current Assets |
43.718
|
39.560
|
36.157
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.531 |
42.320 |
38.978 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Turnover/ Income |
299.641 |
205.000 (Sales
turnover) |
265.977 |
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Total EXPENSES |
296.798 |
2.390 |
264.812 |
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PROFIT BEFORE
TAX |
2.843 |
NA |
1.821 |
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PROFIT AFTER TAX
|
1.965 |
NA |
1.254 |
|
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Earnings Per
Share (Rs.) |
247.17 |
-- |
-- |
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|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
350.000 |
The above information has been parted by Ms. Sarika Mudrale (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23 |
2.31 |
1.69
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
0.49 |
0.53
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Debt Equity Ratio (Total Liability/Networth) |
|
17.68 |
20.34 |
30.10
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Current Ratio (Current Asset/Current Liability) |
|
1.54 |
1.63 |
1.53
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors for Goods |
67.133 |
53.976 |
65.518 |
PARTIAL DETAILS OF
SUNDRY CREDITORS
As on 31.03.2010
|
Particulars |
Amount Rs.
in Millions |
|
Adinath Forge ( |
0.067 |
|
Akash Steel Craft Private Limited |
7.270 |
|
Arihant Steel Exports |
1.658 |
|
B b and Sons |
0.018 |
|
|
0.044 |
|
Choudhary Pipe Fitting Co. |
0.167 |
|
Domet Trading Private Limited |
0.747 |
|
Hanuman Iron and Steel Private Limited |
0.015 |
|
Kalikund Steel and Engineering Co. |
0.129 |
|
S R Steel |
0.034 |
|
Rolex Trading |
1.638 |
|
Prime steel Impex |
0.371 |
|
Prakash Steelage Limited |
4.430 |
|
Pooja Tube Corporation |
0.045 |
Trade References:
- Sanghavi Imports
industries, Mumbai
- Akshay Steel
Craft, Mumbai
Operations and
Results:
The company continued with its trading business and dealt in the Ferrous
and Non Ferrous Metal. The Sales turnover during the year was Rs. 299.400 Millions
as compared to Rs. 205.000 Millions for the previous year. The company earned a
profit of Rs. 2.843 Millions before providing a sum of Rs. 2.390 Million as
provision for tax.
Fixed Assets:
- Computer
- CC TV
- Fan
- Fax Machine
- Furniture and Fixture
- Guest House At Lonawla
- Mobile Telephone
- Motor Car
- Motor Cycle
- Telephone System
- Warehouse
- Weight Scale
- Hand Card
- Mobile Telephone
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U28920MH1995PTC094565 |
|
Name of the
company |
UNISTEEL AND ENGINEERING COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
52/52A, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Floating Charge Others |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman
Point, Mumbai-400021, Maharashtra,
India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
21.02.2011 |
|
Amount secured by
the charge |
Rs. 7.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest TC- to be decided
at the tile of drawl of funds. Terms of
Repayment TC- The
Liquidation of the bills shall be by way of banking of the PDC’s on the due dated
or by debiting the current account/ overdraft account of the borrower. Margin TC- Cash margin
of 30% shall be provided at time drawn down Extent and
Operation of the charge First and exclusive
charge by way of hypothecation of current assets and movable fixed assets
present and future of the borrower, in favour of Kotak Mahindra bank as
security for repayment of financial facilities granted by the Bank to the
borrower. |
|
Short particulars
of the property charged |
The whole of
Borrower’s current asset and movable
fixed assets both present and future. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U28920MH1995PTC094565 |
|
Name of the
company |
UNISTEEL AND ENGINEERING COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
52/52A, |
|
Type of charge |
Book Debts Floating Charge Others |
|
Particular of
charge holder |
ABN Amro Bank NV, Ground Floor, Sakar Bhavan, Nariman Point,
Mumbai-400021, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Deed of
Hypothecation of movable assets Dated 10.02.2009 |
|
Date of
instrument Creating the charge |
Rs. 10.02.2009 |
|
Amount secured by
the charge |
Rs. 15.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As applicable by
the bank from time to time Terms of
Repayment Payable on demand Margin As advised by
bank from time to time Extent and Operation
of the charge The bank is
having exclusive first charge both present and future on book debts and stock
of goods such as raw material, Sp. FG. Of the Company and on demand by the
bank the company has to repay working capital facilities Others As applicable |
|
Short particulars
of the property charged |
The bank is
having exclusive first charge both present and future on book debts, bills
and stock of goods as such as raw material sp. FG, Consumable store and spare
of the company bills whether documentary or clean outstanding monies,
receivables both present and future in a form and manner satisfactory to the
bank |
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.44.16 |
|
|
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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 |
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 |
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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.