MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
UOP INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. 2 A, Malviya Nagar Corner Market, Malviya Nagar, New
Delhi-110017, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
23.04.1999 |
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Com. Reg. No.: |
55-099471 |
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Capital
Investment / Paid-up Capital : |
Rs. 29.509 millions |
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CIN No.: [Company
Identification No.] |
U74210DL1999PTC099471 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU01557D |
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PAN No.: [Permanent
Account No.] |
AAACU2687E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business as Provider of Engineering and Consultancy Services to the Oil and Gas Industries and other Group Companies. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500000 |
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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. The
company has improved its performance in the year 2009 – 2010. Trade relation are
reported as fair. Business is active. Payments are reported as usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Registered Office : |
Plot No. 2 A, 1st Floor, Malviya Nagar Corner Market,
Malviya Nagar, New Delhi-110017, |
|
Tel. No.: |
91-124-5031361 / 4031361-65 / 4153012 / 6753012 |
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Fax No.: |
91-124-5031369 / 4031369-70 |
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E-Mail : |
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Head Office : |
UOP LLC |
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Corporate Office : |
Unitech Trade Centre, 1st Floor, Sector-43,
Block C, Sushant Lok, Phase-1, Gurgaon-122002, |
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Tel. No.: |
91-124-4031361-65 |
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Fax No.: |
91-124-4031369-70 |
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E-Mail : |
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Factory : |
Industrial Park, Pace City-II, Sector-36, Gurgaon-122004, |
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Tel. No.: |
91-124-24373288 / 91 |
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Fax No.: |
91-124-24373283/84 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Marek Stefan Karol Turowicz |
|
Designation : |
Managing Director |
|
Address : |
Sundaram Farms, |
|
Date of Appointment : |
14.12.2005 |
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DIN No.: |
01782692 |
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Name : |
Mr. Arthur Athanasios Fourtstizis (Foreigner) |
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Designation : |
Additional Director |
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Address : |
Satyam Farm, Triveri Estate, Gadaipur, |
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Date of Appointment : |
01.12.2009 |
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Date of Change / Resignation : |
18.03.2005 |
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DIN No.: |
02976209 |
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Name : |
Mr. Glen William Davies (Foreigner) |
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Designation : |
Director |
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Address : |
UOP LTD., Liongate, Lady mead, Guildford, |
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Date of Appointment : |
20.11.2001 |
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DIN No.: |
01782697 |
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Name : |
Mr. Michael Tal Millard (Foreigner) |
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Designation : |
Director |
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Address : |
1225, Crestwood, |
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Date of Appointment : |
24.06.2005 |
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Date of Cessation: |
01.12.2009 |
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Din No.: |
01782701 |
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Name : |
Mr. Kartik Suryanarayanan |
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Designation : |
Additional Director |
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Address : |
N: 4: 27, Phase: II, |
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Date of Appointment : |
01.12.2009 |
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DIN No.: |
02976063 |
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Name : |
Mr Simon Hallifax Hobbs |
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Designation : |
Additional Director |
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Address : |
Honeywell International, 708, |
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Date of Appointment : |
01.12.2009 |
|
DIN No.: |
02976155 |
KEY EXECUTIVES
|
Name : |
Mr. Rajneesh Kumar Sharma |
|
Designation : |
Secretary |
|
Address : |
BG5: 45C, Paschim Vihar, |
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Date of Birth/Age : |
09.05.1967 |
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Date of Appointment : |
28.10.2001 |
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Pan No.: |
AATPS2630K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
UOP, LLC ( |
|
2950907 |
|
UOP Process International Inc, |
|
01 |
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|
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Total |
|
2950908 |
Equity Share Break up as 30.09.2010
|
Category |
|
Percentage
|
|
Foreign holding (Foreign institutional investor(s), Foreign
companies(s), Foreign financial institution(s), Non-resident Indian(s) or
Overseas corporate bodies or Others |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business as Provider of Engineering and Consultancy Services to the Oil and Gas Industries and other Group Companies. |
GENERAL INFORMATION
|
No. of Employees : |
50 (Approximately) |
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|
|
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
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Address : |
Building No.8, Tower B, 8th Floor, |
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Pan No.: |
AAEFP3641G |
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Ultimate Holding
Company : |
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Holding Company: |
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Fellow
Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2950908 |
Equity Shares |
Rs.10/- each |
Rs. 29.509
millions |
Note:
Of the above 2950907 (previous year 2099999)
Equity shares held by UOP LLC, the Holding
Company in the
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.509 |
21.000 |
21.000 |
|
|
2] Share Application Money |
0.000 |
44.247 |
44.247 |
|
|
3] Reserves & Surplus |
613.640 |
0.000 |
248.089 |
|
|
4] (Accumulated Losses) |
0.000 |
(69.805) |
0.000 |
|
|
NETWORTH |
643.149 |
(4.558) |
313.336 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
643.149 |
(4.558) |
313.336 |
|
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|
APPLICATION OF FUNDS |
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|
|
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FIXED ASSETS [Net Block] |
205.797 |
229.588 |
27.898 |
|
|
Capital work-in-progress |
72.274 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
46.079 |
23.113 |
24.057 |
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
69.389
|
|
|
Sundry Debtors |
116.741
|
219.988
|
60.028
|
|
|
Cash & Bank Balances |
504.823
|
66.538
|
97.720
|
|
|
Other Current Assets |
3.194
|
0.000
|
0.000
|
|
|
Loans & Advances |
457.541
|
400.404
|
295.704
|
|
Total
Current Assets |
1082.299
|
686.930
|
522.841 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
151.238
|
524.852
|
336.757
|
|
|
Other Current Liabilities |
200.852
|
206.923
|
|
|
|
Provisions |
472.787
|
228.986
|
0.000
|
|
Total
Current Liabilities |
824.877
|
960.761
|
336.757
|
|
|
Net Current Assets |
257.422
|
(273.831)
|
186.084
|
|
|
|
|
|
|
|
|
Unbilled revenue on Uncompleted contracts |
52.577 |
16.572 |
75.278 |
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.019 |
|
|
|
|
|
|
|
|
TOTAL |
634.149 |
(4.558) |
313.336 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2730.017 |
1251.471 |
749.420 |
|
|
|
Other Income |
16.297 |
16.502 |
11.194 |
|
|
|
TOTAL (A) |
2746.314 |
1267.973 |
760.614 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
|
183.196 |
|
|
|
Employee Cost |
|
|
414.062 |
|
|
|
Administration,
Selling and General Expenses |
|
|
114.548 |
|
|
|
Preliminary
Expenditure written off |
|
|
0.019 |
|
|
|
TOTAL (B) |
1877.187 |
1562.717 |
711.825 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
48.789 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
48.789 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
10.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
869.127 |
(294.744) |
38.518 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
221.420 |
(23.151) |
16.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
647.707 |
(317.895) |
22.408 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Inter Company
Revenue |
1367.763 |
612.033 |
477.163 |
|
|
TOTAL EARNINGS |
1367.763 |
612.033 |
477.163 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
58.917 |
109.135 |
72.215 |
|
|
TOTAL IMPORTS |
58.917 |
109.135 |
72.215 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
219.49 |
(151.38) |
10.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
23.58 |
(25.07) |
2.95
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
31.84 |
(23.55) |
5.14
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
67.47 |
(32.16) |
6.99
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.35 |
(6466.52) |
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.28 |
(210.79) |
1.07
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
0.71 |
1.55
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
AND FUTURE OUTLOOK:
During the year, the company has performed well and achieved
a turnover (sales, technical Services and other income) of Rs.2746.314 Millions
against Rs.1267.972 Millions during the previous year thus recording a positive
growth rate of more than 100% over previous year. The Company has recorded
Profit of Rs.647.707 Millions after tax during the year against Loss of Rs.
317.894 Millions.
This company foresees to have great potential in
The Company has dedicated resources for business development
activities in the country. They provide support to various businesses to
identify the opportunities in areas like sourcing, research & development
and establish new business opportunities in
CHANGE OF ADDRESS
The Registered office of the Company has been shifted from 1, DDA
Community Centre, Geetanjali Enclave, New Delhi-110017,
FIXED ASSETS
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
- Computers
- Leasehold
Improvements
- Software
AS PER WEB DETAILS
PROFILE
UOP LLC has been delivering cutting-edge technology to the petroleum refining, gas processing, petrochemical production and major manufacturing industries for over 90 years.
The company’s roots date back to 1914, when the revolutionary Dubbs thermal
cracking process created the technological foundation for today’s modern
refining industry. In the ensuing decades, UOP engineers have generated
thousands of patents, leading to important advances in process technology,
profitability consultation, and equipment design. In addition, their latest
proprietary discovery methods for identifying new catalysts and adsorbents are
enabling them to bring such products to the marketplace faster than ever
before.
Throughout the world, UOP customers are seeing tangible benefits by applying
their decades of experience to their manufacturing plants. UOP advances do more
than create higher yields, higher quality products, and higher profits for
their customers. They also create cleaner technologies and processes for a
healthier global environment.
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.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.99 |
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 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.