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Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL MATTRESS COMPANY |
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Formerly Known
As : |
Farook Associates |
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Registered
Office : |
138 Old Number, 307 New Number,
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
2009 |
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Capital
Investment/ Paid-up Capital: |
Not Divulged |
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Vat : |
3343782160 |
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Cst : |
905469 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business
: |
Wholesaler, Dealer, Distributors, Retailer and Buying House for all types
of Furnishings, Mattresses and Lining Materials. |
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No. of
Employees: |
10 (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 |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having satisfactory
track. Partners are reported to be well experienced. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. s |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DENIED BY
|
Name : |
Mr. Abdul Khadir |
|
Designation : |
Partner |
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Contact No.: |
91-44-28480248 |
|
Date : |
18.07.2012 |
LOCATIONS
|
Registered Office/ Showroom : |
138 Old Number, 307 New Number,
Pycrofts Road, Royapettah, Chennai – 600014, Tamilnadu, India |
|
Tel. No.: |
91-44-28484452/ 28482250/ 28480248 |
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Mobile No.: |
91-9884177249 |
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Fax No.: |
91-44-28480248 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq.ft. |
PARTNERS
|
Name : |
Mr, K. Hussain |
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Designation : |
Partner |
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Name : |
Mr. Nayeem |
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Designation : |
Partner/ Sales Director |
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Qualification : |
B.Com |
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Name : |
Mr. Abdul Kadir |
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Designation : |
Partner/ Chief Operating Officer |
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Qualification : |
Chartered Accountant, MBA |
BUSINESS DETAILS
|
Line of Business : |
Wholesaler, Dealer, Distributors, Retailer and Buying House for all
types of Furnishings, Mattresses and Lining Materials. |
|
|
|
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Products : |
· Natural latex foam · Memory foam · PU foam · Innerspring · Rubberized foam · Pillows of all types · Mattress protectors |
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Agencies Held : |
·
Tirupathi Foam Private Limited ·
Litelon Private Limited |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
·
ICICI Bank ·
Standard Chartered Bank ·
Indian Bank, Chennai – 600014, Tamilnadu,
India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Name : |
Chartered Accountants |
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Sister Concern : |
Name: Kasim Marketing Address: 138 Old Number,
307 New Number, Pycrofts Road, Royapettah,
Chennai – 600014, Tamilnadu, India Line of
Business: Furnishing and lining, foam dealers, mattress dealers distributors
etc. Name: Dawood Sons Address: 138 Old Number,
307 New Number, Pycrofts Road,
Royapettah, Chennai – 600014, Tamilnadu, India Line of
Business: Furnishing and lining, foam dealers, mattress dealers distributors
etc. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
50.000 |
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The above information has been denied by Mr. Abdul Khadir
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
- |
|
22] |
Litigations that the firm / promoter involved in |
- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
- |
|
26] |
Buyer visit details |
- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
PROFILE:
This is a partnership firm started in the
year 2009. It is a family business and
the family has been in business since 1980.
They first started a small marketing firm in the name of Farook
associates in the year 1983. This firm
was dealing in Upholstery fabrics in rexine and other lining materials. They were also dealing in PU foam and
Rubberized coir. The firm was renamed to
Kasim Marketing thereafter and they added new products to their product
list. Now they dealt in natural latex
foam, EVA foam and adhesives. The firm
was doing well in South India. In the
year 2009 – they took dealership of all types of mattresses, foam pillows,
beds, furniture cushions and started a separate division to deal with all
these. The division was named Universal
Mattress company and became a household name in South India.
Universal mattress Company is a partnership
firm dealing in foam mattress of many reputed brands. The firm is situated in the center of the
city. Royapettah abounds in furniture
stores and the street – Pycrofts road is full of furniture stores. Universal is situated right in the center of
the street and occupies prime space and market leadership. Slowly by their quality and service they have
become a household name in South India.
They supply mattresses all over South India to main cities like Trichy,
Coimbatore, Madurai, Salem, Tirunelveli, Pondicherry, Bangalore, Mysore, and
some parts of Kerala. They offer a wide
range of mattress as follows:
·
Latex foam mattress is a completely "Natural
Mattress". It is superior to the other mattress type in terms of both
comfort and durability
·
Spring mattresses are the largest selling
mattresses worldwide. They have become synonymous with "comfort”
·
Coir mattresses are preferred for the Indian climate,
since it absorbs moisture and gives an overall cooling effect
·
Memory Foam mattresses has been developed by NASA.
Its unique heat-sensitive property minimizes pressure points and ensures
maximum comfort.
·
PU foam Mattresses are known for their durability.
They come with warranties of up to 25 years.
They hold dealership of two big companies in
India
1. "Tirupati"
House, 4th Floor, Near Topaz Restaurant, University Road, Polytechnic Char
Rasta, Ambawadi, Ahmadabad – 380015,
Gujarat, India.
Tel. No.: 91-79-26304652/53/54/55
Fax No.: 91-79-26304658
E-mail: tflmktg@tirupatifoam.com
·
Tirupati foam Limited was started
in 1986 by four first generation entrepreneurs in Gujarat. The company started manufacturing a wide
range of Industrial foam. To cater to
the ever increasing demand of the markets of all India, the company forayed
into the arena of branded foam products and evolved an enviable range of
consumer comfort products under the name of “Sweet Dream”. Due to its popularity it soon became a
household name. Their Polyurethane foam is unique, environmental friendly,
versatile material. In September 2003
the company launched an exclusive and innovative range of covered flexi-puf
mattresses under the Brand name “Hindustani” which has received a massive warm
response from all over the country
1. Litelon
Private Limited – Situated in 177/1A,
Bilekahalli, Bannerghetta Road, Bangalore they are also manufacturers of foam,
rexine and PU Products,
Universal
sells only branded items like:
1. Kurlon
2. Hindustani
3. Sweet
dream
4. Dura
flex
They are well established
in Chennai and have facility to book orders on line. The show room is about 5000 sq.ft. In
Royapettah and has a warehouse attached to it.
About 10 people work in the showroom.
The products they sell are:
1. Natural
latex foam
2. Memory
foam
3. PU
foam
4. Innerspring
5. Rubberized
foam
6. Pillows
of all types
7. Mattress
protectors
The firm does a turnover of
over Rs.50.000 Millions. Their bankers
are Standard Chartered bank, ICICI Bank, Indian Bank and other banks too. They do not have any imports/exports. They are wholesale dealers and distributors. There is no way to assess the financial
strength of the firm. Caution advised in
all financial dealings with them. Orders
may be placed with the documents being negotiated through bank. Supplies can be made to them after obtaining
advance payment. The firm has a brisk
counter and sales are good.
A medium sized reputed firm in Chennai
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.55.76 |
|
|
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
NO |
|
--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.