MIRA
INFORM REPORT
|
Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNICARE EMERGENCY EQUIPMENT PRIVATE LIMITED |
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Registered
Office : |
Leslico House, Off 87-C, 2nd Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.01.1998 |
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Com. Reg. No.: |
11-114299 |
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CIN No.: [Company Identification
No.] |
U29299MH1998PTC114299 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Industrial Safety Equipments. |
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 92000 |
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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.
ECGC Country Risk Classification List – April 1, 2010
|
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. Rajashree |
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Designation : |
Senior Accountant |
LOCATIONS
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Registered Office/ Head Offices : |
Leslico House, Off 87-C, 2nd Floor, |
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Tel. No.: |
91-22-24227587/7198/24221880/78 |
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Mobile No.: |
91-9730504225 (Mr. Hendry P. Sequeira) |
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Fax No.: |
91-22-24306044 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Owned |
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Factory : |
7/8, Vohra industrial Complex, Near Sagar Manthan Building, Gokhivare
Village, Sattwali Road, Vasai (East), Thane-401 208, Maharashtra, India |
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Tel. No.: |
91-250-2456508 |
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Regional Office : |
Located At: ·
Kolkata ·
·
Chennai ·
Haryana ·
Rajasthan ·
Karnataka ·
Jharkhand and Orissa |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Cyril D. Pereira |
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Designation : |
Director |
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Address : |
Rays,TPS-IV, |
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Date of Birth/Age : |
18.03.1942 |
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Date of Appointment : |
01.04.1998 |
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Name : |
Mr. Wendy L. Pereira |
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Designation : |
Director |
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Address : |
Rays,TPS-IV, |
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Date of Birth/Age : |
18.02.1948 |
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Date of Appointment : |
01.04.1998 |
KEY EXECUTIVES
|
Name : |
Ms. Rajashree |
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Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
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Cyril D. Pereira |
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25000 |
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Wendy L. Pereira |
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25000 |
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Total |
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50000 |
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 of Industrial Safety Equipments. |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
L/ C, Cash and Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
30 (Approximately) |
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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 : |
Damani and Shah Chartered Accountants |
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Address : |
522 5th Floor |
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Tel. No.: |
91-22-24712245/46 |
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Fax No.: |
91-22-24712245/46 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- Each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- Each |
Rs.0.500 million |
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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
22.569 |
19.863 |
16.879 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.069 |
20.363 |
17.379 |
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LOAN FUNDS |
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1] Secured Loans |
24.164 |
17.609 |
19.719 |
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2] Unsecured Loans |
12.816 |
10.016 |
7.216 |
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TOTAL BORROWING |
36.980 |
27.625 |
26.935 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
60.049 |
47.988 |
44.314 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.076 |
4.783 |
4.953 |
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Capital work-in-progress |
0.203 |
0.000 |
0.000 |
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INVESTMENT |
0.020 |
0.020 |
0.020 |
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DEFERREX TAX ASSETS |
0.250 |
0.229 |
0.114 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
14.942
|
12.632
|
10.400 |
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Sundry Debtors |
41.815
|
33.606
|
31.790 |
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Cash & Bank Balances |
6.837
|
8.417
|
3.804 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
13.255
|
12.692
|
7.823 |
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Total
Current Assets |
76.849
|
67.347
|
53.817 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
20.244
|
21.506
|
11.806 |
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Other Current Liabilities |
0.843
|
0.972
|
0.772 |
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Provisions |
1.262
|
1.913
|
2.012 |
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Total
Current Liabilities |
22.349
|
24.391
|
14.590 |
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Net Current Assets |
54.500
|
42.956
|
39.227 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
60.049 |
47.988 |
44.314 |
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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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Sales and Other income |
116.778 |
125.805 |
97.949 |
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TOTAL (A) |
116.778 |
125.805 |
97.949 |
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Less |
EXPENSES |
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Purchase |
73.658 |
84.579 |
63.455 |
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Excise duty |
0.022 |
0.698 |
0.164 |
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Administrative and Other Expenses |
19.805 |
19.481 |
18.873 |
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Personnel Expenses |
16.997 |
13.784 |
10.088 |
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Increase/ (Decrease) in Stock |
(2.310) |
(2.231) |
(2.655) |
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TOTAL (B) |
108.172 |
116.311 |
89.925 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.606 |
9.494 |
8.024 |
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Less |
FINANCIAL
EXPENSES (D) |
3.096 |
2.901 |
1.881 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.510 |
6.593 |
6.143 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.585 |
1.684 |
1.401 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.925 |
4.909 |
4.742 |
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Less |
TAX (H) |
1.207 |
1.914 |
1.995 |
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PROFIT AFTER TAX
(G-H) (I) |
2.718 |
2.995 |
2.747 |
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Less |
APPROPRIATIONS |
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Proposed Dividend and tax thereon |
0.012 |
0.012 |
0.012 |
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Profit and loss Account |
2.207 |
1.983 |
0.735 |
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General Reserve |
0.500 |
1.000 |
2.000 |
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EARNINGS IN
FOREIGN CURRENCY |
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FOB Value of Exports goods |
15.098 |
13.352 |
15.498 |
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Export of Services |
5.366 |
2.015 |
2.015 |
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TOTAL EARNINGS |
20.464 |
15.367 |
17.513 |
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IMPORTS |
21.606 |
25.507 |
12.800 |
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Earnings Per
Share (Rs.) |
54.37 |
59.90 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.33
|
2.38
|
2.80 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.79
|
6.81
|
8.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.24
|
0.27 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.57
|
2.55
|
0.27 |
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Current Ratio (Current Asset/Current Liability) |
|
3.44
|
2.76
|
3.69 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
The company has achieved sales of Rs.116.800 millions as compared to
Rs.125.800 Millions in the previous year. It has registered a net profit of
Rs.3.925 millions as against Rs.4.908 millions. This is in spite of tuff
competition, recession and rising cost.
Fixed Assets:
·
Building
·
Machinery
·
Furniture and Fixture
·
Office Equipments
·
Computer
·
Motor Car
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29299MH1998PTC114299 |
|
Name of the
company |
UNICARE EMERGENCY
EQUIPMENT PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Leslico House, Off 87-C, 2nd Floor, |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90142432 |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
State Bank Of Hyderabad, 81/83 Shalini Palace, Bhavani Shankar Road, Dadar
(West), Mumbai – 400 028, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
Agreement of Loan-cum- Hypothecation. 2. Memorandum for
recording extension of mortgage by deposit of title deeds. |
|
Date of
instrument Creating the charge |
13.11.2009 |
|
Amount secured by
the charge |
Rs.57.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at 0.50%
above on SBH BPLR, i.e 12.75% p.a with monthly rests. Terms of
Repayment Working Capital
:- Repayable on demand. Margin Raw Materials :-
Imported 25% Raw Materials :-
Indigenous 25% Semi Finished
Goods 25% Finished
Goods 25% Components /
Consumable / Spares 25% Domestic
Receivable 50% Export Packing
Credit 25% Letter of
credit 10% Bank of
Guarantees 15% Extent and
Operation of the charge First charge over
the company's current and fixed assets both present and future. |
|
Short particulars
of the property charged |
Hypothecation of
all current and fixed assets of the company's Equitable Mortgage
of Gala No. 8 (G+3), Prabhadevi Industrial Enterprises Co-op Society Ltd, 1st
Floor, Veersavarkar Marg, Dadar, Mumbai. |
|
Date of latest
modification prior to the present modification |
15.11.2008 |
|
Particulars of
the present modification |
By the present
modification the limit enhanced by 220.00 Lac, and Total limit increase from
Rs.350500 millions to Rs.57.500 millions.
( Cash Credit 27.500 millions, Letter of Credit 100.00 Lac and Bank
Guarantee 20.000 millions) |
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.45.02 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.62.54 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.