MIRA
INFORM REPORT
|
Report Date : |
21.10.2011 |
IDENTIFICATION DETAILS
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Name : |
UMIYA WOOD WORKS PRIVATE LIMITED |
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Registered
Office : |
Survey No.54, P/3, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.06.1997 |
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Com. Reg. No.: |
032557 |
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Capital
Investment/ Paid-up Capital: |
Rs.8.500 Millions |
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CIN No.: [Company Identification No.] |
U20299GJ1997PTC032557 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTU00009C |
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PAN No.: [Permanent Account No.] |
AAACU2634H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Timber and Timber Products. |
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No. of
Employees: |
10 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Usually Correct |
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Comments : |
Subject is an established company having moderate track. Profit
ability of the company appears to be low. Trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
LOCATIONS
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Registered Office : |
Survey No.54, P/3, |
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Tel No: |
Not Available |
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Fax No: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Vinod Mahabirprasad Goyal |
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Designation : |
Director |
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Address : |
104, Paras Nagar, Ward -12/B, Gandhidham, |
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Date of Birth/Age : |
15.05.1951 |
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Date of Appointment : |
23.06.1997 |
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Name : |
Mr. Abhishek Vinod Goyal |
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Designation : |
Director |
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Address : |
104, Paras Nagar, Ward -12/B, Gandhidham, |
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Date of Birth/Age : |
17.10.1977 |
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Date of Appointment : |
01.03.2001 |
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Name : |
Mr. Abhijit Vinod Goyal |
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Designation : |
Director |
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Address : |
104, Paras Nagar, Ward -12/B, Gandhidham, |
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Date of Birth/Age : |
10.02.1982 |
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Date of Appointment : |
01.03.2001 |
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Name : |
Mr. Abhinav Pramod Goyal |
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Designation : |
Director |
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Address : |
104, Paras Nagar, Ward -12/B, Gandhidham, |
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Date of Birth/Age : |
26.01.1981 |
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Date of Appointment : |
01.03.2001 |
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Name : |
Mr. Virendra Goyal |
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Designation : |
Director |
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Address : |
104, Paras Nagar, Ward -12/B, Gandhidham, |
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Date of Birth/Age : |
18.01.1959 |
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Date of Appointment : |
23.06.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vinod Mahabirprasad Goyal |
|
97500 |
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Virendra Mahabirprasad Goyal |
|
49900 |
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Vinod Goyal and Sons (HUF) |
|
30000 |
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Madhu Pramodkumar Goyal |
|
15000 |
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Sushila Mahabirprasad Goyal |
|
15000 |
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Mahabirprasad Goyal and Sons (HUF) |
|
95000 |
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Rukmani Vinod Goyal |
|
77500 |
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Abhishek Vinod Goyal |
|
175000 |
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Abhijit Vinod Goyal |
|
65000 |
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Abhinav Pramod Goyal |
|
70100 |
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Pramodkumar Mahabirprasad Goyal |
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45000 |
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Adityakumar Chunilal Sharma |
|
14300 |
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Girish Mishra |
|
100 |
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Navin Adityakumar Sharma |
|
100 |
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Pravin Adityakumar Sharma |
|
100 |
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Shakuntaladevi Adityakumar Sharma |
|
100 |
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Sannodevi Jajodia |
|
100 |
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Santosh Prasad Dehraddun |
|
100 |
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Pramodkumar Goyal and Sons HUF |
|
100000 |
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Gaurishankar Aggarwal |
|
100 |
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Total |
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850000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
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Percentage of
Holding |
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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 : |
Trader of Timber and Timber Products. |
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Imports : |
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Products : |
Timber Products |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Corporation Bank, |
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Facilities : |
Cash Credit – Rs.110.000 Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lahoti and Lahoti Chartered Accountant |
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Address : |
106, Varunisha Crossway, Plot No.589, Ward-12/C, Gandhidham – 370102, |
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Address 2: |
1st Floor, Ashat House, Plot No.220, Sector No.1-A,
Gandhidham – 370201, |
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Tel. No.: |
91-2836-226699 |
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 |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
850000 |
Equity Shares |
Rs.10/- each |
Rs.8.500
Millions |
After 30.09.2010
Authorized Capital: Rs. 10.000 Millions
Paid up Capital: Rs. 9.309 Millions
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 |
8.500 |
8.500 |
8.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.839 |
3.239 |
2.653 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.339 |
11.739 |
11.153 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
16.592 |
17.652 |
10.576 |
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TOTAL BORROWING |
16.592 |
17.652 |
10.576 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.931 |
29.391 |
21.729 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.584 |
3.725 |
4.160 |
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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 |
0.026 |
0.032 |
0.016 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
23.425
|
4.157 |
18.868 |
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Sundry Debtors |
49.044
|
37.138 |
45.900 |
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Cash & Bank Balances |
11.433
|
5.216 |
12.787 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
11.187
|
40.139 |
12.562 |
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Total
Current Assets |
95.089
|
86.650 |
90.117 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
70.719
|
60.475 |
71.160 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
1.049
|
0.541 |
1.404 |
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Total
Current Liabilities |
71.768
|
61.016 |
72.564 |
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Net Current Assets |
23.321
|
25.634 |
17.553 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.931 |
29.391 |
21.729 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
226.968 |
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Other Income |
20.538 |
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TOTAL |
247.506 |
187.341 |
211.228 |
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Less |
EXPENSES |
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TOTAL |
246.614 |
186.465 |
210.462 |
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PROFIT BEFORE
TAX |
0.892 |
0.876 |
0.766 |
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Less |
TAX |
0.291 |
0.292 |
0.254 |
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PROFIT AFTER TAX
|
0.601 |
0.584 |
0.512 |
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IMPORTS |
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Raw Materials |
136.378 |
143.866 |
NA |
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TOTAL IMPORTS |
136.378 |
143.866 |
NA |
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Earnings Per
Share (Rs.) |
0.70 |
1.46 |
-- |
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Expected Sales (2010-2011) : Rs.300.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.33
|
0.31 |
0.24 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.93
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.89
|
0.97 |
0.81 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.07 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
|
7.16
|
6.70 |
7.45 |
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Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.42 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has been shifted from 104,
Paras Nagar, Ward -12/B, Gandhidham - 370201,
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90110391 |
|
Corporate
identity number of the company |
U20299GJ1997PTC032557 |
|
Name of the
company |
UMIYA WOOD WORKS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No 104wd 12 B, Gandhidham Kutch - 370201, |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
CORPORATION BANK |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Common Deed of Hypothecation of Movables/ Assets/ Debts |
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Date of
instrument Creating the charge |
18.06.2008 |
|
Amount secured by
the charge |
Rs.110.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest
on cash credit: 11.50% at present subject to change from time to time Commission on
Import LC: At bank's prescribed rate. Terms of
Repayment Cash Credit
repayable on demand. Tenor of Bill not
to exceed 120 days Margin Margin on Cash
Credit: Raw Material (imported and indigenous) 30%, Finished Goods 30%, Book
Debts 50% Cash Margin on
Import LC 20% Extent and
Operation of the charge The charge shall
operate as first and exclusive charge in favour of the bank to secure the
principal amount together with interest, additional interest and other moneys
payable by the company to the bank |
FIXED ASSETS:
- Air Conditioner
- Computer
- Fridge
- Furniture
- Machinery
- Mobile Phone
- Motor Car
- Scooter
- Shed and Building
- Inventor Ups
- Elect. Transformer
- Tractor Loader
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.49.71 |
|
|
1 |
Rs.78.08 |
|
Euro |
1 |
Rs.68.05 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.