MIRA INFORM REPORT

 

 

Report Date :

31.05.2014

 

IDENTIFICATION DETAILS

 

Name :

U C A LANKA (PVT) LTD

 

 

Registered Office :

# 13-B, Horana E.P.Z of BOI, Horana

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

04.11.2003

 

 

Com. Reg. No.:

PV 16320

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Chemicals

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

D

 

 

SRI LANKA - ECONOMIC OVERVIEW

 

Sri Lanka continues to experience strong economic growth following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam. The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth in war-torn and disadvantaged areas, develop small and medium enterprises and increase agricultural productivity. The government's high debt payments and bloated civil service have contributed to historically high budget deficits, but fiscal consolidation efforts and strong GDP growth in recent years have helped bring down the government's fiscal deficit. However, low tax revenues are a major concern. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Agriculture slowed due to a drought and weak global demand affected exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a sharp depreciation, and took steps to curb imports. A large trade deficit remains a concern, but strong remittances from Sri Lankan workers abroad help offset the trade deficit. Government debt of about 80% of GDP remains among the highest in emerging markets.

 

Source : CIA

 

 

GENERAL - Basic information at a glance

     

a.

Name of Subject of Inquiry

:

U C A LANKA (PVT) LTD

 b.

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

c.

CEO

:

R. Vinod Gupta

d.

Primary Line of Business

:

Manufacturers and Exporters of Chemicals.

e.

Head Office

&

Factory

 

:

 

# 13-B, BOI Export Processing Zone,

Puruwandala,

Horana,

Sri Lanka,

        

Tel. No: (00 94 34) 225 5200

Fax No: (00 94 34) 225 5200

 

E-mail: sales@ucalanka.com

              mangla_cap@hotmail.com

 

f.

No. of Employees

:

Not Disclosed

 

COMPANY DETAILS    - Registration and Shareholder Details

 

a.

 

Registration No

:

N (PVS) 35541

Date of Registration

:

4th November 2003

b.

Re-registration No

 

PV 16320

Date of Re-registration

 

08th October 2009

c.

Registered Office

:

# 13-B, Horana E.P.Z of BOI, Horana, Sri Lanka

d.

Board Of Directors

As At

31st December 2013

:

R. Vinod Gupta (India)

CEO

Abhinav Gupta (India)

Director

f.

Issued Share Capital

:

Rs.         15,000,000.00

No. Of Shares

 

1,500,000

g.

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007.

h.

Share Holders

As At

31st December 2013

:

 Share Holders

No of Shears

G. Muthuramalingam Vijayeavel

150,000

Nellainayagam Ganesan

150,000

V.R. Gupta

35,000

Ranjana Vinod Gupta

1,165,000

i

SVAT No

 

SVAT001555

 

j.

Secretaries

:

C.G. Corporate Consultants (Pvt) Ltd

k.

Auditors

:

Management Frontiers

l.

Bankers

:

State Bank of India, DFCC



Operational address 

 

PLC 73 Wad Ranmyaka mw Colombo 02, Sri Lanka

 

 

FINANCIAL DETAILS - Most recent available Financial Information

     

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

 

CURRENT INVESTIGATION

 

·         History.

 

The Subject Company U C A LANKA (PVT) LTD is a Private    Limited   liability Company incorporated on 4th

November 2003 under registration number N (PVS) 35541 and then the company was re-registered on 08th

October 2009 under registration number PV 16320, in terms of Companies Act #7 of 2007.

 

·         Location.

The Subject Company is located at the client # 13-B, Horana E.P.Z of BOI, Horana, Sri Lanka, approx. 40 kilo meters from Colombo.

 

·         Operational Details.

 

General

 

The subject company primary line of business is a Manufacturers and Exporters of Zinc Oxide for Rubber industries, Tiles and Paint industries. The company is a 100% export orient company and also a BOI.

 

Products

 

Zinc Oxide, Zinc Dross.

 

Export Country

 

India

 

Employees

 

Not Disclosed

 

 

·         Directors Details

 

01)

Name

R. Vinod Gupta

Nationality

India

Passport Number

F 6819804

 

02)

Name

Abhinav Gupta

Nationality

India

Passport Number

G 3337513

 

·         Financial Data

 

The company has declined to provide information on its finances

 

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability is not required to make public disclosure of their annual financials. Therefore no Financials are available for this entity

              

·         Trade references

 

The subject company did not provide any trade reference referrals

 

·         Credit Recommendations

 

Since no financial information has been forthcoming from the company, it is not possible to comment on the

merits or otherwise of the company.

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

 

 

   ANALYSIS - Appraisal of Subject Company

 Rating:

a) Business Scale       

NA

b) Business Trend

NA

c) Management Capability

NA

d) Commercial Morality

NA

e) Reputation

NA

f) Market Situation

Very Competitive

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 59.03

UK Pound

1

Rs. 98.91

Euro

1

Rs. 80.33

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

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 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%)

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