MIRA
INFORM REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL PROCESS ENGINEERS PRIVATE LIMITED |
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Registered Office : |
Plot A29 / 1 /10, IDA Nacharam, |
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Country : |
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Date of Incorporation : |
22.03.2007 |
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Financials (as on) : |
31.03.2010 |
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Com. Reg. No.: |
01-053228 |
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CIN No.: [Company
Identification No.] |
U24110AP2007PTC053228 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of process equipment, starch, glucose,
plants and machinery. |
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 28000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are fair. Business is
active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 : |
Mr. Sayed Ismail |
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Designation : |
Director |
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Contact No.: |
91-9848018811 |
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Date : |
04.05.2011 |
LOCATIONS
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Registered Office / Factory : |
Plot A29 / 1 /10, IDA Nacharam, |
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Tel. No.: |
91-40-27172573 |
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Mobile No.: |
91-9849052100 / 9848018811 / 9985890021 (Mr. Syed Ismail) |
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Fax No.: |
91-40-27179701 |
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E-Mail : |
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Website : |
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Area : |
1 acre |
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Location : |
Owned |
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Administrative Office : |
Plot A28 / 1 /10, I.D.A. Nacharam, |
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Tel No : |
91-40-27172573 |
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Fax No : |
91-40-27179701 |
DIRECTORS
As On : 14.09.2010
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Name : |
Mr. Syed Ismail |
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Designation : |
Director |
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Address : |
Plot No. 31, Sanchar Puri Colony, Phase II, New Bowenpally, |
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Date of Birth : |
11.07.1950 |
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Qualification : |
Mech. |
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Sole Proprietory Concern : |
Universal Process Engineers Address : Plot No.
A29/1/10, IDA Nacharam, Hyderabad-500076, |
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22.03.2007 |
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DIN No : |
00732072 |
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Name : |
Mr. Syed Habeeb |
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Designation : |
Director |
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Address : |
Plot No. 31, Sanchar Puri Colony, Phase II, New Bowenpally, |
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Date of Birth : |
01.08.1976 |
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Qualification : |
BE. Chemical |
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Date of Appointment : |
22.03.2007 |
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DIN No : |
00732206 |
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Name : |
Mr. Syed Osman |
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Designation : |
Director |
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Address : |
Plot No. 31, Sanchar Puri Colony, Phase II, New Bowenpally, |
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Date of Birth: |
05.04.1975 |
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Qualification : |
BE. Mech |
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Date of Appointment : |
22.03.2007 |
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DIN No : |
00732139 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.09.2010
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Names of Shareholders |
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No. of Shares |
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Syed Ismail |
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631560 |
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Syed Habeeb |
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2000 |
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Syed Osman |
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2000 |
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Total |
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635560 |
AS ON 14.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of process equipment, starch, glucose, plants
and machinery. |
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Products : |
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Exports : |
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Products : |
Process Equipments |
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Countries : |
·
Middle East, Nepal ·
Algeria ·
Bangladesh |
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Terms : |
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Selling : |
Cash, Credit (30 / 60 / 90 days) |
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Purchasing : |
Cash, Credit (30 / 60 / 90 days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
·
End Users ·
OEM’s ·
OVERSEAS CLIENTS
Ř Waterford,
Nigeria Ř Agro Nepal
Limited, Nepal Ř Vijaynagar
Biotech Limited, India Ř Family Cereal
Limited, Malaysia ·
DOMESTIC CLIENTS Ř Starch Chem
Consultants and Engineers Private Limited Ř IMCL, India Ř Bharat Starch
and Chemicals Limited, Thapar Group Ř Sahyadri Starch
Industries Ř Bhavari Starch
Private Limited Ř Kisan Starch
Limited Ř Shrenik Starch
Private Limited Ř Yeshwanth Glucose
Kharkhana Limited Ř Shri Devji Agro
industries Private Limited Ř Radhanagri
Starch Ř Universal Starch
and Allied Private Limited |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
State Bank of India, Nacharam, I D A, Hyderabad-501507,
Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Sesha Prasad and Company Chartered Accountants |
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Address : |
Flat No. 203, |
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Tel. No.: |
91-40-27540181/27540182 |
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Fax No.: |
91-40-27540183 |
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E-Mail : |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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635560 |
Equity Shares |
Rs. 10/- each |
Rs. 6.356
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
6.356 |
6.356 |
6.356 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.719 |
0.234 |
0.099 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.075 |
6.590 |
6.455 |
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LOAN FUNDS |
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1] Secured Loans |
0.489 |
3.758 |
10.293 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.489 |
3.758 |
10.293 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.564 |
10.348 |
16.748 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.174 |
4.218 |
5.017 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.124 |
0.128 |
0.055 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.169
|
13.575 |
6.113 |
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Sundry Debtors |
4.054
|
1.435 |
2.117 |
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Cash & Bank Balances |
0.372
|
0.331 |
8.140 |
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Other Current Assets |
0.766
|
0.604 |
1.352 |
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Loans & Advances |
1.018
|
1.217 |
1.224 |
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Total
Current Assets |
11.379
|
17.162 |
18.946 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.823
|
8.282 |
4.686 |
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Other Current Liabilities |
2.027
|
2.639 |
2.285 |
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Provisions |
0.263
|
0.239 |
0.299 |
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Total
Current Liabilities |
8.113
|
11.160 |
7.270 |
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Net Current Assets |
3.266
|
6.002 |
11.676 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.564 |
10.348 |
16.748 |
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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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Income |
42.480 |
26.609 |
31.717 |
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Other Income |
0.315 |
0.103 |
0.002 |
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TOTAL (A) |
42.795 |
26.712 |
31.719 |
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Less |
EXPENSES |
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|
|
|
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Cost of Goods Sole |
36.056 |
20.724 |
26.491 |
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Administrative Expenses |
4.880 |
4.174 |
3.127 |
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TOTAL (B) |
40.936 |
24.898 |
29.618 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.859 |
1.814 |
2.101 |
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Less |
FINANCIAL
EXPENSES (D) |
0.269 |
0.504 |
1.011 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.590 |
1.310 |
1.090 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.838 |
1.008 |
0.747 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.752 |
0.302 |
0.343 |
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Less |
TAX (H) |
0.268 |
0.168 |
0.244 |
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PROFIT AFTER TAX
(G-I)
(I) |
0.484 |
0.135 |
0.099 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.211 |
0.089 |
0.000 |
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Less |
APPROPRIATIONS |
|
|
|
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|
|
|
Transfer to General Reserve |
0.048 |
0.014 |
0.010 |
|
|
BALANCE CARRIED
TO THE B/S |
0.647 |
0.211 |
0.089 |
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|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
60.000 |
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|
Expected Sales (2011-2012) : Rs.80.000 millions
The above information has been parted by Mr. Sayed Ismail.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.13
|
0.50 |
0.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.77
|
1.13 |
1.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.80
|
1.41 |
1.43 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.04 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.22
|
2.26 |
2.72 |
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Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.53 |
2.60 |
LOCAL AGENCY FURTHER INFORMATION
COMPANY
PERFORMANCE:
During the year the company has performed well and recorded a turnover
of Rs. 42.480 million (31.03.2009: Rs. 26.609 millions) including other income of
Rs. 0.315 million (31.03.2009: Rs. 0.103 million) with a net profit of Rs.
0.752 million (31.03.2009: Rs. 0.302 million) before income tax.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24110AP2007PTC053228 |
|
Name of the
company |
UNIVERSAL PROCESS ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot A29 / 1 /10, IDA Nacharam, |
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Type of charge |
Immovable property Movable property (not being pledge) Book debts |
|
Particular of
charge holder |
State Bank of India, Nacharam, I D A, Hyderabad-501507, Andhra
Pradesh, India |
|
Nature of description
of the instrument creating or modifying the charge |
SME 1 – Letter of Agreement SME 2 – Agreement of Loan cum hypothecation SME 7 – Memorandum for recording extension of mortgage by deposit of
title deeds covering enhanced limit sand/or creation of equitable mortgage on
additional properties for expending limits and enhanced and additional
facilities. SME 12 : Link letter |
|
Date of
instrument Creating the charge |
12.01.2008 |
|
Amount secured by
the charge |
Rs. 15.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Working Capital :
Interest at 1% Below State bank advance rate (SBAR) (SBAR=12.75% w.e.f.
09.04.2007) with a minimum of 13.75% p.a. Terms of repayment Repayable on
demand facility which has been sanctioned on 24.11.2007 is available for 12
months form the date, subjects to review every 6 months. When it may be
cancelled / reduced depending upon the conduct and utilisation of the advance
or as per the Bank’s scheme. Margin Raw material :
Imported : 25% Raw Material :
indigenous : 25% Semi Finished
Goods : 25% Finished Goods :
25% Components/
Consumables/Spares : 25% Domestic
Receivables : 40% Bank Guarantees :
25% Extent operation of the charge The charge
extends and operates on 1. Stocks,
receivables and all chargeable current assets of the company. 2. House Property
H.No. 4-88/3, Survey no. 34, Plot no. 29, Ferozguda, 3. Factory land
and building Plot no. A28/1/10 at IDA Nacharam 4. Office
Premises of 489 Sq. yds at |
|
Short particulars
of the property charged |
Primary Security:
Hypothecation of stock and receivable and all chargeable current assets of
the company Collateral Security. 1. House Property
H. No. 4-88/3, servey no. 34, Plot no. 29, Ferozguda, 2. Factory land
and building plot no. A 28/1/10 at IDA Nacharam 3. Office
Premises of 489 Sq yds at |
FIXED ASSETS :
- Land
- Building
- Plant And Machinery
- Computers
- Furniture And Fixtures
- Vehicles
- Office Equipment
- Air Conditioner
TRADE REFERENCE
·
Kisan Starch Limited
·
Bharat Starch and
Chemicals Limited
·
Agro Nepal Limited, Nepal
·
Kashyap Sweetners Limited
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.44.59 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.