MIRA
INFORM REPORT
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Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
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Name : |
UDAY STRUCTURALS AND ENGINEERS PRIVATE LIMITED |
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Registered Office : |
602-603, |
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Country : |
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Year of Establishment / Date of Establishment: |
1987 (Sole Proprietory) 13.07.2010 (Private Limited) |
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Capital Investment / Paid-up Capital : |
Rs.0.100 Million |
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IEC No.: |
0302030883 |
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PAN No.: [Permanent
Account No.] |
AACPP0022B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporter of Scaffolding and Formwork Systems. |
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No. of Employees: |
110 (In office 30 + In factory 80) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 141184 |
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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 successor of Uday Structural and Engineers, a proprietory
concern started in the year 1987 and later it converted into Private Limited
Company in the year 2010. Trade relations
are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution. |
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 : |
Ms. Minal Tawade |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9833235754 |
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Date : |
01.07.2011 |
LOCATIONS
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Registered Office : |
602-603, |
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Tel. No.: |
91-22-28391427/ 66922839/ 40 |
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Mobile No.: |
91-9870595050 (Mr. Uday Patil) |
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Fax No.: |
91-22-66922839/ 40 |
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E-Mail : |
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Website : |
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Area : |
950 Sq. ft. |
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Location : |
Owned |
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Factory : |
W- 133, Saravali, MIDC, Tarapur Via Boisar Taluka, District Palghar,
Thane, |
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Area : |
46000 Sq. ft. |
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Location : |
Owned |
DIRECTOR
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Name : |
Mr. Uday K Patil |
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Designation : |
Director |
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Qualification : |
B. E. Mechanical |
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Name : |
Mrs. Sonali Patil |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Ms. Minal Tawade |
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Designation : |
Accounts Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporter of Scaffolding and Formwork Systems. |
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Products : |
· Slab Support System · Wedgelock Scaffoldings · Cuplock Scaffoldings · H – Frame Systems · Tube Fittings · Span and props · Panel and Custom made Formworks · Hire and Contracts Service · Civil Construction Projects |
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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 : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, TT |
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Purchasing : |
L/C, Credit |
GENERAL INFORMATION
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No. of Employees : |
110 (In office 30 + In factory 80) |
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Bankers : |
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Facilities: |
HDFC Bank - O/D: Rs.7.500 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Karnik and Company Chattered Accountant |
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Address : |
Mumbai, |
CAPITAL STRUCTURE
UDAY STRUCTURALS
AND ENGINEERS PRIVATE LIMITED
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
PROVISIONAL
ABRIDGED BALANCE SHEET (UDAY STRUCTURALS
AND ENGINEERS)
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SOURCES OF FUNDS |
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31.03.2011 |
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SHAREHOLDERS FUNDS |
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1] Proprietor Capital |
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22.826 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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12.470 |
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NETWORTH |
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35.296 |
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LOAN FUNDS |
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1] Secured Loans |
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13.068 |
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2] Unsecured Loans |
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8.003 |
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TOTAL BORROWING |
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21.071 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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56.367 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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26.203 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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7.713 |
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Sundry Debtors |
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92.419 |
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Cash & Bank Balances |
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4.075 |
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Other Current Assets |
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1.721 |
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Loans & Advances |
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0.818 |
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Total
Current Assets |
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106.746 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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23.638 |
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Other Current Liabilities |
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35.284 |
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Provisions |
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17.660 |
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Total
Current Liabilities |
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76.582 |
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Net Current Assets |
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30.164 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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56.367 |
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PROVISIONAL PROFIT
& LOSS ACCOUNT (UDAY STRUCTURALS
AND ENGINEERS)
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PARTICULARS |
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31.03.2011 |
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SALES |
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Income |
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183.987 |
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Other Income |
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0.280 |
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TOTAL |
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184.267 |
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Less |
EXPENSES |
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Cost of Goods Sold |
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90.749 |
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Direct Expenses |
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59.505 |
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Indirect Expenses |
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21.542 |
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TOTAL |
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171.796 |
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NET FOR THE YEAR
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12.471 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
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PAT / Total Income |
(%) |
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.77 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
v
RNA Builders
v
Kalpataru Builders
v
Azura Builders
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 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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.58 |
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|
1 |
Rs.71.75 |
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Euro |
1 |
Rs64.80 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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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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28 |
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.