MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
UL ENGINEERING SERVICES AND SOFTWARE PRIVATE
LIMITED |
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Registered Office : |
S. No. 36, Nirman Classic, 3rd Floor, Katraj – |
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Country : |
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Financial As on : |
31.03.2010 |
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Date of Incorporation : |
14.07.2009 |
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Com. Reg. No.: |
11-134312 |
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CIN No.: [Company
Identification No.] |
u72100pn2009ptc134312 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
pneu06517A |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Providing B to Y Solutions in the field of Industrial
Automation and Instrumentation systems. They provide the services of Documentation, Graphic Development and
Logic Configuration for various DCS and PLC Manufacturers. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 990 |
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Status : |
New Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company establishing itself gradually.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered normal 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 : |
Mr. Arvind Accountant |
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Designation : |
Accountant |
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Date : |
18.03.2011 |
LOCATIONS
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Registered Office : |
S. No. 36, Nirman Classic, 3rd Floor, Katraj – |
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Tel. No.: |
91-20-26960040 |
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Fax No.: |
91-20-26962079 |
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E-Mail : |
ashok.deshpane@ulepl.com arvind.raut@ulepl.com |
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Websites : |
www.ulepl.com |
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Processing Unit : |
S No. 30/2A, Lipane Vasti, Ambegaon, Kurd, Tal Haveli, Pune – 411 046,
Maharashtra |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Uday Jadhav |
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Designation : |
Director |
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Address : |
573/23, Parshwanath Nagar, Bibwewadi, Pune – 411 037, |
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Date of Birth/Age : |
01.06.1966 |
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Name : |
Mr. Lalit Sahani |
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Designation : |
Director |
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Address : |
Hills and Dales, S No. 13/14, resi
– 3 Phase, undri, Pune - 411 028, |
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Date of Birth/Age : |
02.11.1967 |
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Name : |
Mr. Dileep N Miskin |
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Designation : |
Director |
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Address : |
Flat No., BLD A-1, Vishnu Vihar, Bibwewadi, Pune – 411 037 |
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Date of Birth/Age : |
22.05.1962 |
KEY EXECUTIVES
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Name : |
Mr. Arvind Raut |
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Designation : |
Accounts Manager |
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Name : |
Mr. Ashok Deshpande |
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Designation : |
Finance Manager |
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E-mail : |
ashok.deshpande@ulepl.com |
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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Mr. Uday Jadhav |
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3800 |
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Mr. Lalit Sahani |
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3800 |
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Mr. Dileep N Miskin |
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2400 |
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Total |
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10000 |
AS ON 30.09.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.00 |
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Bodies corporate |
0.00 |
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Directors or relatives of Directors |
100.00 |
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Other top fifty shareholders |
0.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing B to Y Solutions in the field of
Industrial Automation and Instrumentation systems. They provide the services of Documentation, Graphic Development and
Logic Configuration for various DCS and PLC Manufacturers. |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management. |
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Bankers : |
SHREE SHARADA SAHAKARI
BANK LIMITED, 47/1/A, Parvati Plaza, Taware Colony, Pune - Satara Road, Pune
– 411037, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P S Shingte And Company Chartered Accountant |
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Address : |
224/225, Ashoka Centre, |
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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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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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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]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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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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0.146 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.246 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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1.982 |
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TOTAL BORROWING |
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1.982 |
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DEFERRED TAX LIABILITIES |
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0.018 |
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TOTAL |
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2.246 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.244 |
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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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1.079 |
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Sundry Debtors |
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1.871 |
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Cash & Bank Balances |
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0.495 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.220 |
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Total
Current Assets |
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3.665 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Other Current Liabilities |
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1.640 |
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Provisions |
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0.048 |
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Total
Current Liabilities |
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1.688 |
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Net Current Assets |
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1.977 |
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MISCELLANEOUS EXPENSES |
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0.025 |
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TOTAL |
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2.246 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
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SALES |
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Income |
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6.413 |
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Other Income |
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TOTAL (A) |
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6.413 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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6.162 |
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Advertising Expenses |
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TOTAL (B) |
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6.162 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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0.251 |
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Less |
FINANCIAL
EXPENSES (D) |
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0.008 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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0.243 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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0.030 |
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PROFIT BEFORE
TAX (E-F) (G) |
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0.213 |
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Less |
TAX (I) |
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0.067 |
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PROFIT AFTER TAX
(G-I) (J) |
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0.146 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
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0.000 |
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BALANCE CARRIED
TO THE B/S |
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0.146 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
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1.463 |
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TOTAL EARNINGS |
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1.463 |
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Earnings Per
Share (Rs.) |
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92.94 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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PAT / Total Income |
(%) |
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2.27 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.32 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.73 |
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Return on Investment (ROI) (PBT/Networth) |
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0.86 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.91 |
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Current Ratio (Current Asset/Current Liability) |
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2.17 |
LOCAL AGENCY FURTHER INFORMATION
Note : Sundry Creditors details are not available.
Outlook and Future
Prospectus :
This is the first year of operations of the company. Company achieved gross
turnover of Rs. 6.413 millions and profit before tax of Rs.0.213 millions. The
turnover of the company includes various projects completed by the company from
engineering and related software activity. Board of Directors are exploring
various opportunities to increase the business and it expects to achieve better
results and profitability in coming year.
Form : 8
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Corporate
identity number of the company |
U72100PN2009PTC134312 |
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Name of the
company |
UL ENGINEERING SERVICES
AND SOFTWARE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
S. No. 36, Nirman
Classic, 3rd Floor, 411046 |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
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Particular of
charge holder |
SHREE SHARADA
SAHAKARI BANK LIMITED, 47/1/A, Parvati Plaza, Taware Colony, Pune - Satara
Road, Pune – 411037, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Hypothecation
Of Tangible Movable Property 2. Deed Of
Hypothecation Of Book Debts 3. Agreement For
Cash Credit Facility 4. Supplementary
Memorandum Of Equitable Mortgage By Deposit Of Title Deeds (All Four
Agreements Constitute A Single Charge) |
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Date of
instrument Creating the charge |
15/07/2010 |
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Amount secured by
the charge |
Rs. 2.500
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : 12.5% P.A. With
Monthly Rests, Subject To Changes As Per The Policy Of Bank Terms of repayment : Cash credit
facility of rs. 25 lac, repayment on demand for the period of 12 months from
15.07.2010 Margin : Stock 25% Book debts 40% Extent and operation of the charge : The charge
operates as security for due repayment and discharge of cash credit Facility of Rs.
2.500 millions provided by shree sharada sahakari bank limited Other : Nil |
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Short particulars
of the property charged (Including location of the property) |
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Fixed Assets :
- Office
Equipments
- Computers
- Furniture
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 45.09 |
|
|
1 |
Rs. 72.82 |
|
Euro |
1 |
Rs. 63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.