MIRA
INFORM REPORT
|
Report Date : |
29.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
UTTAM FURNISHING FABRICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
50/10, Raj Colony, Panipat-132103, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.05.2000 |
|
|
|
|
Com. Reg. No.: |
05-034495 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 0.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999HR2000PTC034495 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKU00289C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Textile Home Furnishing Products, Curtain,
Sofa Cloth etc. |
|
|
|
|
No. of
Employees: |
Approximately 65 |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, 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.
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Amarjeet |
|
Designation : |
Director |
|
Contact No.: |
91-8950333000 |
|
Date : |
27.10.2012 |
LOCATIONS
|
Registered Office : |
50/10, Raj Colony, Panipat-132103, Haryana, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8950333000 (Mr. Amarjeet Singh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
250 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
96, Dalbir Nagar, Kutani Road, Pehlwan Chowk, Panipat-132103, Haryana,
India |
|
Tel. No.: |
91-180-3290909 |
|
Area : |
1100 Sq. Ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Uttam Singh Makkar |
|
Designation : |
Director |
|
Address : |
50/10, Raj Colony, Panipat-132103, Haryana, India |
|
Date of Appointment : |
13.05.2000 |
|
DIN No.: |
00418449 |
|
|
|
|
Name : |
Raman Deep Kaur |
|
Designation : |
Director |
|
Address : |
50/10, Raj Colony, Panipat-132103, Haryana, India |
|
Date of Appointment : |
24.06.2006 |
|
DIN No.: |
00418411 |
|
|
|
|
Name : |
Mr. Amarjeet Singh Makkar |
|
Designation : |
Additional Director |
|
Address : |
50/10, Raj Colony, Panipat-132103, Haryana, India |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00417738 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL2005PTC142872 |
AJS DIAMONDS
PRIVATE LIMITED |
Director |
23/11/2005 |
23/11/2005 |
10/01/2008 |
Active |
NO |
|
2 |
U74999HR2000PTC034495 |
UTTAM
FURNISHING FABRICS PRIVATE LIMITED |
Additional
director |
01/04/2008 |
01/04/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Uttam Singh Makkar |
3900 |
|
Amarjeet Singh Makkar |
6100 |
|
TOTAL
|
10000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Textile Home Furnishing Products, Curtain,
Sofa Cloth etc. |
|
|
|
|
Products : |
Furnishing Fabric |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Madhu Traders |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Customers : |
End Users ·
S S Furnishing Private Limited |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Approximately 65 |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Punjab Sind Bank ·
Main Branch, G.T. Road, Panipat-132103, Haryana,
India ·
New Subzi Mandi, Panipat-132003, Haryana, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Nandwani Chartered Accountant |
|
Address : |
Behind Regency Hotel, Near Harison Automobiles, Panipat-132103,
Haryana, India |
|
PAN No.: |
AAOPN0535B |
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 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.300 |
0.249 |
0.221 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.400 |
0.349 |
0.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.709 |
2.437 |
2.559 |
|
|
2] Unsecured Loans |
3.698 |
3.455 |
2.774 |
|
|
TOTAL BORROWING |
6.407 |
5.891 |
5.333 |
|
|
DEFERRED TAX LIABILITIES |
0.043 |
0.034 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.850 |
6.274 |
5.654 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.115 |
2.490 |
2.727 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.049
|
2.710
|
2.334 |
|
|
Sundry Debtors |
4.093
|
5.901
|
3.554 |
|
|
Cash & Bank Balances |
0.098
|
0.138
|
0.044 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
0.021
|
0.072
|
0.017 |
|
Total
Current Assets |
7.261
|
8.821 |
5.949 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.460
|
4.896
|
2.915 |
|
|
Other Current Liabilities |
0.000
|
0.050
|
0.050 |
|
|
Provisions |
0.066
|
0.091
|
0.057 |
|
Total
Current Liabilities |
3.526
|
5.037 |
3.022 |
|
|
Net Current Assets |
3.735
|
3.784
|
2.927 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.850 |
6.274 |
5.654 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
12.325 |
16.506 |
10.741 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
12.249 |
16.426 |
10.689 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.076 |
0.080 |
0.052 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.025 |
0.025 |
0.024 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.051 |
0.055 |
0.028 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.06 |
5.51 |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
30.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 45.000 Millions
The above information has been parted by Mr. Amarjeet Singh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.41
|
0.33 |
0.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.73
|
0.71 |
0.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.23 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
24.94
|
31.41 |
26.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
1.75 |
1.97 |
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FORM 8
|
Corporate identity
number of the company |
U74999HR2000PTC034495 |
|
Name of the
company |
UTTAM FURNISHING
FABRICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
50/10, Raj Colony, Panipat-132103, Haryana, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10104557 |
|
Type of charge |
·
Others |
|
Particular of
charge holder |
Punjab Sind Bank, Main Branch,
G.T. Road, Panipat-132103, Haryana, India |
|
Nature of
instrument creating charge |
Hypothecation Of
Goods To Secure Demand Cash Credit |
|
Date of
instrument Creating the charge |
02.03.2012 |
|
Amount secured by
the charge |
Rs. 2.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 3.00% Over The
Prevailing Base Rate I.E 13.00% P.A With Monthly Rests Terms of repayment Repayable On
Demand Margin 25% Extent and operation of the charge First And
Exclusive Charge On All Current Assets Of Company |
|
Short particulars
of the property charged (Including location of the property) |
All Type Of Stock
Whiter Raw Material, Work In Process, Finished Goods |
|
Particulars of
the present modification |
The Company Has
Enhanced Cash Credit Limit From 1.000 Million To 2.000 Millions |
TRADE REFERENCES
·
S S Furnishing Private Limited
·
Madhu Traders
FIXED ASSETS
·
Machinery
·
Motor Cycle
·
Scooter
·
Generator
·
Car
·
Cycle
·
Furniture and Fixture
·
Office Equipments
·
Mobile Set
·
Computer
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 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. 53.63 |
|
|
1 |
Rs. 86.17 |
|
Euro |
1 |
Rs. 69.74 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
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 |
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.