MIRA INFORM REPORT

 

 

Report No. :

310984

Report Date :

10.03.2015

 

IDENTIFICATION DETAILS

 

Name :

UNITY INFRAPROJECTS LTD

 

 

Registered Office :

Indian High Commission Complex, Plot # 2A, Road # 2, Diplomatic Enclave,  Baridhara, Dhaka-1213

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

09.04.1997

 

 

Com. Reg. No.:

L99999MH1997PLC107153

 

 

Legal Form :

Public Listed Co      

 

 

Line of Business :

Engineering and Construction of Building

 

 

No of Employees :

75

 

 

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 :

No Complaints

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Bangladesh

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

 

 

BANGLADESH ECONOMIC OVERVIEW

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings.

 

Source : CIA

 

 

IDENTIFICATION DETAILS

Correct company Name

:

Unity Infraprojects Ltd

Liaison   Office

:

Indian High Commission Complex, Plot # 2A, Road # 2, Diplomatic Enclave,  Baridhara, Dhaka-1213, Bangladesh

Tel No

:

88-01755592627

Fax No

:

Nil

E-mail

:

nk.unityinfra@gmail.com, info@ unityinfra.com

Website

:

www.unityinfra.com

Date/ Year of Incorporation

:

9th April 1997

Incorporation No.

:

L99999MH1997PLC107153

Legal Form (General)

:

 Public Listed Co        Public (but not listed)   Private Co   State-owned Co

 Sole Proprietorships  Partnership                     Not Registered

 others (please specify) ________________

Legal form (Specific)

:

LTD   CORP    INC  CO    

 others (please specify) ________________

Issuing Authority

:

Registered in India                                               City Corporation

 Municipal Administration                                   Union Council

 Cantonment Board                                              Chief Controller of  Import & Export

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

FY 2011E

N/A

N/A

N/A

FY 2012E

N/A

N/A

N/A

Exchange Rate

USD1-Tk. 77.8200

EUR 1- Tk. 100.2711

GBP 1- Tk.118.5354

AUD 1 - Tk.82.8563

JPY 1 - Tk.0.9286

CAD 1 - Tk.80.1887

SEK 1 - Tk.12.2870

SGD 1 - Tk.65.3045

CNH 1 - Tk.12.8399

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Narayan K. Shrestha

Designation

:

Country Manager

Contract No

:

88-01755592627

 

 

 

 

 

                                                               Locations Details

 

Operating Address(Bangladesh)

:

Indian High Commission Complex, Plot # 2A, Road # 2, Diplomatic Enclave,  Baridhara, Dhaka-1213, Bangladesh

Tel No

:

88-01755592627

Fax No

:

Nil

E-mail

:

nk.unityinfra@gmail.com, info@ unityinfra.com

Website

:

www.unityinfra.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

1400

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Indian High Commission Complex

Ö

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

Ö

 

 

 

 

 

Factory:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Head Office:

 

 

Address

:

1252, Pushpanjali, Old Prabhadevi Road, Prabhadi, Mumbai-40025, India

Tel No

:

+91-22-66665500

Fax No

:

+91-22-66665597

 

Employee(Bangladesh):

 

 

 

No. of Employees 

 

In Office

:

10

             In Factory

:

65

In Branch:

:

 

             Total

:

75

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Promoters

                                  62.7%

Private Corporate Bodies

                                  6.1%

Financial Institutes and Insurance

                                  6.1%

FII / NRI / OCB / Foreign Others / Others

                                  3.4%

General Public

                                  21.7%

 

 

DIRECTORS

 

Name

Designation

Kishore Avarsekar

Chairman and Managing Director

Abhijit Avarsekar

Vice Chairman Managing Director and Chief Executive Officer

Mr.Abhijit Avarsekar

Director

Anil Joshi

Independent Director

Girish Gokhale

Independent Director

Chaitanya Joshi

Independent Director

Dinesh Joshi

Independent Director

 

 

MANAGEMENT

 

Name

:

Mr. Narayan K. Shrestha

Job Description

:

Country Manager

Nationality

:

Indian

Email address

:

nk.unityinfra@gmail.com

Other details

:

88-01755592627

 

 

 

Name

:

Ashish Avarsekar          

Job Description

:

Executive Director

Nationality

:

Indian

Email address

:

N/A

Other details

:

N/A

 

Name

:

Madhav Nadkarni

Job Description

:

Chief Financial Officer  

Nationality

:

Indian

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Engineering

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Construction

Ö

Importer

 

Services

 

Others

 

 

Item Dealings In:

Products

:

Building

Production Capacity

:

N/A

Last Year Production

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

Selling Terms      :

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

 

DETAILED DATA

 

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

N/A

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

N/A

 

Paid-up Capital

:

N/A

 No. of Shares

:

N/A

Share Value

:

N/A

Main Assets

:

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

N/A

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

N/A

Subsidiary

:

Unity Middle East (Fze)

Aura Greenport Private Limited

Unity Agriprojects Private Limited

Unity Infrastructure Assets Limited

Unity Building Assets Private Limited

Unity Realty And Developers Limited

Unity Integrated Roads Private Limited

Unity Natural Resources Private Limited

Chomu Mahla Toll Road Private Limited

Jind Haryana Border Toll Road Private Limited

Suratgarh-Sriganganagar Toll Road Private Limited

Name of  The Group

:

KK Group

 

 

BANKING

 

 

Bank Name  

:

State Bank of India

State Bank of Patiala

State Bank of Mysore

DBS Bank Limited

RBS Bank N.V.

AXIS Bank

ICICI Bank

IDBI Bank Limited

Standard Chartered Bank

 

 

 

Adverse data monitoring

 

Dishonored Checks           

 

:     

No Record Found         

Debt

 

:

No Record Found

Litigation  

                   

:

Clear         

Performance Defaults

 

:

No Record Found         

Adverse Local Media Coverage/ Adverse Filling History

:

No Record Found

 

 

SITE VISIT COMMENTARY

Our representative visited the subject company Liaison   Office which is situated at Indian High Commission Complex, Plot # 2A, Road # 2, Diplomatic Enclave, Baridhara, Dhaka-1213, Bangladesh. It is Situated at Residential area.

 

 

GENERAL COMMENTS

SC’s is Indian public listed company engaged in Bangladesh for Construction of Indian High Commission Complex only. This project financed by Indian Government. Indian High Commission Complex completed 70% work & project is ongoing.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.61

UK Pound

1

Rs. 94.39

Euro

1

Rs. 67.96

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

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.