MIRA INFORM REPORT

 

 

Report Date :

28.02.2012

 

IDENTIFICATION DETAILS

 

Name :

UL ENGINEERING SERVICES AND SOFTWARE PRIVATE LIMITED

 

 

Registered Office :

S. No. 36, Nirman Classic, 3rd Floor, Katraj – Kondhawa Road, Katraj, Pune – 411 046, Maharashtra 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

14.07.2009

 

 

Com. Reg. No.:

11-134312

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

u72100pn2009ptc134312

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

pneu06517A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Service Provider of Documentation, Graphic Development and Logic Configuration etc.

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 4000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively new 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.

 

INFORMATION PARTED BY

 

Name :

Mr. Arvind Accountant

Designation :

Accountant

Contact No.:

91-20-26960040

Date :

24.02.2012

 

 

LOCATIONS

 

Registered Office :

S. No. 36, Nirman Classic, 3rd Floor, Katraj – Kondhawa Road, Katraj, Pune – 411 046, Maharashtra 

Tel. No.:

91-20-26960040

Fax No.:

91-20-26962079

E-Mail :

ashok.deshpane@ulepl.com

arvind.raut@ulepl.com

udayulpi@vsnl.net

Website :

www.ulepl.com

Location :

Owned

 

 

Processing Unit :

S No. 30/2A, Lipane Vasti, Ambegaon, Kurd, Tal Haveli, Pune – 411 046, Maharashtra

Location :

Rented

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. Uday  Ramchandra Jadhav

Designation :

Director    

Address :

573/23, Parshwanath Nagar, Bibwewadi, Pune – 411 037, Maharashtra

Date of Birth/Age :

01.06.1966

Date of Appointment :

14.07.2009

DIN No.:

00312664

 

 

Name :

Mr. Lalit Sahani

Designation :

Director    

Address :

Hills and Dales, S No. 13/14, resi – 3 Phase, undri, Pune - 411 028, Maharashtra

Date of Birth/Age :

02.11.1967

Date of Appointment :

14.07.2009

DIN No.:

00467167

 

 

Name :

Mr. Dileep N Miskin

Designation :

Director    

Address :

Flat No., BLD A-1, Vishnu Vihar, Bibwewadi, Pune – 411 037

Date of Birth/Age :

22.05.1962

Date of Appointment :

14.07.2009

DIN No.:

0266180

 

 

KEY EXECUTIVES

 

Name :

Mr. Arvind Accountant

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

Mr. Uday Jadhav

 

3800

Mr. Lalit Sahani

 

3800

Mr. Dileep N Miskin

 

2400

Total

 

10000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2011

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Service Provider of Documentation, Graphic Development and Logic Configuration etc.

 

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

·         Coneep

·         Akruti Arts

·         Abb Limited

·         Aswan Travels

·         Comsoft

·         Knack Exhibition Display

·         Lutze Technik Mit Systems

·         Soya System

·         Yog Tech

·         Uniworld Logistic

·         Tnt India Private Limited

 

 

Customers :

·         Honey Well

·         Abb Limited

·         Aditya Electronics

·         Anjana Engineering Services

·         Bina Electricals

·         D.R. Sales

·         Infotech

·         J.K. Paper Limited

·         Reliance Infrastructure Limited

·         Sms India Private Limited

·         Soni Electrical and Electronics

·         Vinay Computers Systems

·         Wintech Engineering Private Limited

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :

·         Shree Sharada Sahakari Bank Limited, 47/1/A, Parvati Plaza, Taware Colony, Pune - Satara Road, Pune – 411037, Maharashtra, India

·         Kotak Mahindra Bank

 

 

Facilities :

Secured Loan

As on

31.03.2011

(Rs. in

Millions)

As on

31.03.2010

(Rs. in

Millions)

Loan from Kotak Mahindra Prime

(Secured against Motor Car)

1.140

0.000

Cash Credit from Shree Sharada Sahakari Bank Limited

(Secured against stocks and debtors)

2.455

0.000

Total

3.595

0.000

 

 

Unsecured Loan

As on

31.03.2011

(Rs. in

Millions)

As on

31.03.2010

(Rs. in

Millions)

UL Electrocdevices Private Limited

2.961

1.982

Total

2.961

1.982

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

P S Shingte And Company

Chartered Accountant

Address :

224/225, Ashoka Centre, Pune Satara Road, Pune – 411009, Maharashtra, India

PAN.:

AADFP5203B

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- each

Rs.0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- each

Rs.0.100 Million

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2011

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

0.100

0.100

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

1.012

0.147

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

1.112

0.247

LOAN FUNDS

 

 

 

1] Secured Loans

 

3.595

0.000

2] Unsecured Loans

 

2.961

1.982

TOTAL BORROWING

 

6.556

1.982

DEFERRED TAX LIABILITIES

 

0.054

0.018

 

 

 

 

TOTAL

 

7.722

2.247

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

1.855

0.244

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.065

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

3.850

1.079

 

Sundry Debtors
 

8.216

1.871

 

Cash & Bank Balances
 

0.875

0.496

 

Other Current Assets
 

0.000

0.000

 

Loans & Advances
 

1.455

0.221

Total Current Assets
 

14.396

3.667

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

8.241

1.640

 

Other Current Liabilities
 

0.000

0.000

 

Provisions
 

0.375

0.048

Total Current Liabilities
 

8.616

1.688

Net Current Assets
 

5.780

1.979

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.022

0.024

 

 

 

 

TOTAL

 

7.722

2.247

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2011

31.03.2010

 

SALES

 

 

 

 

Income

 

27.869

6.348

 

 

Other Income

 

 

 

 

TOTAL                                     (A)

 

27.869

6.348

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

 

25.950

6.096

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                     (B)

 

25.950

6.096

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

 

1.919

0.252

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

0.333

0.008

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

1.586

0.244

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

0.333

0.030

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

1.253

0.214

 

 

 

 

 

Less

TAX                                                                  (h)

 

0.388

0.067

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

0.865

0.147

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

0.147

0.000

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

 

1.012

0.147

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

86.50

92.94

 

Expected Sales (2011-12): Rs.33.000 Millions

 

The above information has been parted by Mr. Arvind – Accounts Manager

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2011

31.03.2010

PAT / Total Income

(%)
 

3.10

2.32

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

7.71

3.73

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

1.13

0.86

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

13.64

14.91

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.67

2.17

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Creditors

                                                                                                     Rs in millions

Particulars

31.03.2011

31.03.2010

 

 

 

Sundry Creditors

 

 

Against Purchase

3.440

1.640

Against Expenses

1.899

 

Against Sister Concern Company

0.748

 

Against Statutory Liabilities

2.154

 

Total

8.241

1.640

 

 

 

 

 

 

 

 

 

 

 

Check list by Info Agents

 

Available in Reports ( Yes/No)
  1. Year of Establishment

Yes
  1. Locality of the Firm

Yes
  1. Constitutions of the Firm

Yes
  1. Premises Details

Yes
  1. Type of Business

Yes
  1. Line of Business

Yes
  1. Promoter’s Background

--
  1. No. of Employees

Yes
  1. Name of person contacted

Yes
  1. Designation of contact person

Yes
  1. Turnover of Firm fort last three years

Yes
  1. Profitability for last three years

No
  1. Reasons For Variation<>20%

--
  1. Estimation for coming financial year

Yes
  1. Capital in Business

Yes
  1. Details of Sister Concern

No
  1. Major Suppliers

Yes
  1. Major Customers

Yes
  1. Payment Terms

Yes
  1. Export / Import Details (if Applicable)

No
  1. Market Information

--
  1. Litigations that the firm / Promoter involved in

--
  1. Banking Details

Yes
  1. Banking Facility Details

No
  1. Conduct of the banking account

--
  1. Buyer visit details

--
  1. Financial, if provided

No
  1. Incorporation details, if applicable

--
  1. Last Account filed at ROC11

--
  1. Major shareholder , if available

--

 

Operation and Future Prospectus

 

This is the second year of operations of the company. Company achieved gross turnover of Rs. 27.869 millions and profit before tax of Rs.1.253 millions. The turnover of the company includes various projects completed by the company from engineering and related software activity. Board of Directors is exploring various opportunities to increase the business and it expects to achieve better results and profitability in coming year.

 

Form 8

 

Corporate identity number of the company

U72100PN2009PTC134312

Name of the company

UL ENGINEERING SERVICES AND SOFTWARE PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

S. No. 36, Nirman Classic, 3rd Floor, Katraj-Kondhawa Road, Katraj, Pune – 411046 Maharashtra India

Email: ashok.deshpande@ulepl.com

This form is for

Creation of the charge

Type of charge

Immovable Property

Movable Property

Particular of charge holder

Shree Sharada Sahakari Bank Limited, 47/1/A, Parvati Plaza, Taware Colony, Pune - Satara Road, Pune – 411037, Maharashtra, India

Email: sharadabank@vsnl.net

Nature of instrument creating charge

Hypothecation of tangible movable property and supplementary memorandum of equitable mortgage by deposit of title deeds

Date of instrument Creating the charge

22.10.2011

Amount secured by the charge

Rs.3.000 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest: 13% PA

 

Terms of Repayment: 60 Monthly Installments of Rs.0.068 Millions

 

Margin: 25%

 

Extent and operation of the charge: The charge operates as security for due repayment and discharge of term loan facility availed from Shree Sharada Sahakari Bank Limited

Short particulars of the property or asset(s) charged (including complete address and location of the property)

Computer, Machinery and office furniture

 

All the piece and parcel of property Flat No.3, 1st Floor, ADM 32.15Sq. Mtrs at S.No/7, H.No. 1/1/9 and 1/1/10 Ambegaon Khurd, Pune owned by Mr. Uday Jadhav

 

All the piece and parcel of property Plot no.C15/3, 1st Floor, ADM 68.40 Sq.mtrs and Ground Floor, ADM 26.75 Sq.Mtrs in Rajmudra Gruharachana Santha Maryadit Dhanakawadi, Pune owned by Shilpa jadhav

 

All the piece and parcel of property Falt No,5, 1st floor, Nirman Classic A, II ADM 82.21 Sq,mtrs at S.No. 36/3D/4D1 and 4/2 Katraj Pune owned by Shilpa Jadhav and Beena Sahani

 

All the piece and parcel of property Shop No,26 ADM 18.55SQ mtrs and Shop No.27ADM 18.55 Sq.mtrs at CTS no.4731, S.No,.127/1B, Mohan Nagar, AKrudi Pune owned by Shilpa Jadhav and Beena Sahani

 

All the piece and parcel of land at S.No. 59 H.No. 2/5/2 about 7.5R and S.No 59 H No 2/51 about 7.5R, Kondhava Budruk Pune Uday Jadhav and Lalit Sahani

 

Hypothecation of all the stock and book debts of the company situated at pune

 

Trade references

 

·         Honey Well

·         Coneep

 

Fixed Assets

 

  • Office Equipments
  • Computers
  • Furniture

 

 

 

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.49.05

UK Pound

1

Rs.77.78

Euro

1

Rs.65.89

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

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

 

44

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.