MIRA
INFORM REPORT
|
Report Date : |
30th
May, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
LAKSHMI
ENTERPRISES |
|
|
|
|
Registered Office : |
No.
39/1036, Udaya Rasmi, Kareket Road, Cochin 682016, Kerala |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
1985 |
|
|
|
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Legal Form : |
Sole
Proprietory Concern |
|
|
|
|
Line of Business : |
Company
is in engaged in 3M tm Littmann Stethoscopes (Health Care Division,
Automotive after Market Division and Abrasives System Division) and Surgical
Products. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
25000 |
|
|
|
|
Status : |
Satisfactory
|
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|
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations
are fair. General reparations is favourable. Payments are usually correct and
as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
No.
39/1036, Udaya Rasmi, Kareket Road, Cochin 682016, Kerala |
|
Tel. No.: |
91-484-2377698/2375321/2377920 |
|
Mobile No.: |
91-9847081898 |
|
Fax No.: |
91-484-2377621 |
|
E-Mail : |
|
|
Area : |
3000
Sq. ft |
|
Location : |
Rented
|
SOLE PROPRIETOR
|
Name : |
Mr.
Ajith Kumar T. K. |
|
Designation : |
Proprietor
|
|
Address : |
Flat
No. 8 A, Willigton Enclave, Pandit Karpar Road, Thevara, Cochin 682013,
Kerala |
|
Date of Birth/Age : |
47
Years |
|
Qualification : |
MBA |
BUSINESS DETAILS
|
Line of Business : |
Company
is in engaged in 3M tm Littmann Stethoscopes (Health Care Division,
Automotive after Market Division and Abrasives System Division) and Surgical
Products. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit
(30 days) |
PRODUCTION
STATUS
|
Particulars |
Unit |
|
|
Actual Production |
|
3M tm Littmann Stethoscopes |
Pcs |
|
|
100 Pcs per month |
GENERAL
INFORMATION
|
Customers : |
Wholesalers
|
|
|
|
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No. of Employees : |
6 |
|
|
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Bankers : |
Federal
Bank, Panampalli Nagar, Cochin |
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|
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Facilities : |
Cash
Credit Rs. 5.000 Millions |
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|
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Banking Relations : |
Satisfactory
|
|
|
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|
Auditors : |
M/s. K
J Thomas Associates Chartered
Accountant |
|
Address: |
Palarivattam
Cochin |
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|
|
|
Associates/Subsidiaries : |
M/s.
Laksmi Distributors & Pujas 39/1038,
Udayareshmi, Karakat Road, Cochin 682016 Line
of Business Distributors for 3M India Limited & Gujarat India private
Limited and also subsidiary of M/s. Campus International (Overseas Education
4 You) |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
|
70.000 |
65.000 |
|
|
|
|
|
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Profit/Loss for the year |
|
15% |
13% |
Provision
for Taxation Rs. 8.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
References
v
Cochin
Pharma Ernakulam
v
Maha
Surgicals Ernakulam
v
Popual
Automobiles
Obseration
Point
Name of
Board Sighted
Visibility
of Name Board High
Location
Easy
Landmark
Near to the Ernakulam Railway Station
Area
Up Market
Visibility
of Items Telephone, Fax, Computer, Air Conditioners, Xerox Machine
M/s.
Lakshmi Distributors is authorized sales & service centre for 3M tm
Littmann Electronic Stethoscopes Spares for 3M Littmannn Stethoscopes
Models
Bell Mode, Diaphragm Mode
Classic
II Black/ Grey Rs. 0.004 Millions (Market Rate Price) Rs. 0.004 Millions
(Discount Rate)
Pedatric
Black/ Grey - Rs. 0.004 Millions (Market Rate Price) Rs. 0.004 Millions
(Discount Rate)
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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 Intl 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
companys 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.46.19 |
|
UK
Pound |
1 |
Rs.86.51 |
|
Euro |
1 |
Rs.59.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SCs 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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |