MIRA
INFORM REPORT
|
Report Date : |
16.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
UGI ENGINEERING WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
23/ F, 23/J, 23/K, K. B. Sarani, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
26.06.2009 |
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|
|
Com. Reg. No.: |
20-136310 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253WB2009PTC136310 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALUO3468D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCU0908P |
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|
|
|
Legal Form : |
Private Limited Liability company |
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|
|
|
Line of Business
: |
Manufacturer and Trader of Parts of Rolling Mill. |
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|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 86000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a successor of Universal Gear Industries and Engineering
Works, a proprietory concern started in the year 2009. It is an established company
having satisfactory track. 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 at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Abhijeet |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-33-25591304 |
|
Date : |
07.01.2012 |
LOCATIONS
|
Registered Office / Factory : |
23/ F, 23/J, 23/K, K. B. Sarani, Mall Road, Kolkata-700 080, West
Bengal, India |
|
Tel. No.: |
91-33-25591304 |
|
Mobile No.: |
91-9830046487 (Mr. Vishal Kapoor) |
|
Fax No.: |
91-33-25595924 |
|
E-Mail : |
|
|
Area : |
3500 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vishal Kapoor |
|
Designation : |
Director |
|
Address : |
CB-112, |
|
Date of Birth/Age : |
24.12.1973 |
|
Date of Appointment : |
26.06.2009 |
|
DIN No.: |
02307702 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U29299WB2005PTC104626 |
YASH
ROLLING EQUIPMENTS PRIVATE LIMITED |
Director |
08-08-05 |
08-08-05 |
Active |
NO |
|
2 |
U29253WB2009PTC136310 |
UGI
ENGINEERING WORKS PRIVATE LIMITED |
Director |
26-06-09 |
26-06-09 |
Active |
NO |
|
Name : |
Mr. Pravesh Chandra Kapoor |
|
Designation : |
Director |
|
Address : |
CB-112, |
|
Date of Birth/Age : |
04.01.1942 |
|
Date of Appointment : |
26.06.2009 |
|
DIN No.: |
02565100 |
KEY EXECUTIVES
|
Name : |
Mr. Abhijeet |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Vishal Kapoor |
5000 |
|
Pravesh Chandra Kapoor |
5000 |
|
Total
|
10000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors and relatives of
directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Parts of Rolling Mill. |
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|
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|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Hot Rolling Mill |
|
Countries : |
·
Bangladesh ·
Dubai ·
Srilanka ·
Nepal |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
China ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 / 60 / 90 days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 / 60 / 90 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Rolling Mill Machinery |
Pcs. |
31 |
|
|
Units |
1156 |
|
|
Sets |
201 |
|
|
Kgs. |
7410 |
|
|
Lots |
2 |
|
Gear Coupling |
Units |
37 |
|
|
Set |
2 |
|
Parts of Crane |
Unit |
4 |
|
Waste and Scrap |
M.T. |
30.59 |
GENERAL INFORMATION
|
Suppliers : |
·
Surbi International |
|
|
|
|
Customers : |
End Users and OEM’s ·
Concas Bangol Industries Private Limited ·
SPS Steel Rolling Mills ·
Baba Ispat Limited ·
Baba Smelter Limited ·
Shree Metaliks Limited ·
Bhutan Rolling Mill Private Limited ·
Kohinoor Steel Private Limited |
|
|
|
|
No. of Employees : |
60 (Approximately) |
|
|
|
|
Bankers : |
·
Allahabad Bank, SME Finance Branch ·
State Bank of India, Dum Dum Branch |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Jaykrishnan Chartered accountant |
|
Address : |
12 Ho – Chi- Minh Sarani, Kolkata-700 071, West Bengal, India |
|
Tel. No.: |
91-33-40035801 |
|
Fax No.: |
91-33-40035832 |
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E-Mail : |
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|
Pan No.: |
AASFS4445F |
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|
|
|
Related Party : |
·
Yash Rolling Equipments Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
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 |
|
21.489 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
21.589 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.862 |
0.000 |
|
|
SHARES SUSPENSE ACCOUNTS |
|
2.558 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
25.009 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
63.043 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
40.593 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
9.184 |
0.000 |
|
|
Sundry Debtors |
|
51.109 |
0.000 |
|
|
Cash & Bank Balances |
|
51.866 |
0.050 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
40.440 |
0.800 |
|
Total
Current Assets |
|
152.599 |
0.850 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
221.226 |
0.911 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
10.000 |
0.000 |
|
Total
Current Liabilities |
|
231.226 |
0.911 |
|
|
Net Current Assets |
|
(78.627) |
(0.061) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.161 |
|
|
|
|
|
|
|
|
TOTAL |
|
25.009 |
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
314.537 |
|
|
|
Machining and Labour Charges |
|
|
8.065 |
|
|
|
Other Income |
|
|
4.113 |
|
|
|
TOTAL (A) |
|
|
326.715 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
247.906 |
|
|
|
Direct Expenses |
|
|
31.200 |
|
|
|
Administrative Expenses |
|
|
9.058 |
|
|
|
Miscellaneous Expenditure W/Off |
|
|
0.161 |
|
|
|
Increase / (Decrease) in Stock |
|
|
(3.487) |
|
|
|
TOTAL (B) |
|
|
284.838 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
41.877 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
|
0.918 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
40.959 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
8.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
32.351 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
10.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
21.489 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
21.489 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
|
|
1.089 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
81.00 |
|
Expected Sales (2011-2012) : Rs. 450.000 Millions
The above information has been parted by Mr. Abhijeet.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
6.58 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
10.28 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
15.00 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.50 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
10.75 |
8.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.66 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
PROPRIETORSHIP FIRM
|
Particulars |
|
31.03.2010 |
31.03.2009 |
|
Sales Turnover |
|
250.000 |
200.000 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------ |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last two years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
No |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
NOTES:
Universal Gear Industries and Engineering Works was the proprietorship,
established in the year 1996. in June 2009, it has been taken over by UGI Engineering
Works Private Limited.
TRADE REFRENCES:
·
Concas Bangol Industries Private Limited
·
SPS Steel Rolling Mills
·
Surbi International
FIXED ASSETS
·
Factory Land
·
Shed
·
Land and Building
·
Electrical Installations
·
Plant and Machinery
·
Engineering Drawings
·
Tools and Equipments
·
Projector
·
Office Equipments
·
Furniture and Fixtures
·
Motor Car
·
Computer
WEBSITE DETAILS
PROFILE
Kolkata based UGI Engineering works Private Limited (Formerly know as Universal Gear Industries and Engineering works) undertake the supply of Rolling mill on turnkey basis from conception to commissioning to suit the specific need of the customer. Supply of Bar mill to produce 8 mm to 40 mm with capacities up to 5,00,000 tons per annum. UGI manufacturers bar mills, wire rod mill and section mills for angle, channel, beam and flats and narrow strip mill (upto 500mm). UGI has a technical collaboration with Sead Steel, Turkey to manufacture rolling mill to produce 5,00,000 tons per annum. The technology used is "SLIT ROLLING" which is a proven in European countries and a new concept in India, The technical collaboration includes technical backup for manufacturing, erection and commission and achieving target production of the designed mill.
COMPANY BACKGROUND AND ACHIEVEMENTS
Subject has supplied rolling mills to Middle East, Bangladesh, Sri Lanka,
Africa, Nepal and Bhutan with capacity of 50,000 tpa to 5,00,000 tpa. In India
the Rolling Mills are installed all over India with many satisfied customers in
West Bengal, Assam, Meghalaya, Bihar, Jharkhand, Orissa, Andhra Pradesh,
Karnataka, Tamil Nadu, Chhattishgarh and Himachal Pradesh etc.
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. 51.43 |
|
|
1 |
Rs. 79.10 |
|
Euro |
1 |
Rs. 66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.