MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ENTERPRISING ENTERPRISES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1971 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEE00142C |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Exporter of |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 460000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
This report is based on an interview with Mr. Prakash, Mr. D. Balaji (9840676193) and Mr. Ramnath (Finance Mannger) Subject is a well-established concern having satisfactory track. Partners are reported as experienced, respectable and resourceful businessmen. Their trade relations are regarded as fair. The concern’s dealings are very clear. It can be considered good for any normal business dealing.
The concern can be reported as a promising business partners in a medium and
long run. |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-44-26811251 / 11252 / 11253 |
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Fax No.: |
91-44-26811515/91710 |
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E-Mail : |
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Website : |
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Area : |
Office Premises –10,000sq fts (owned) Factory premises - 22 acre plot of land (over 1, 00,000sq.fts.) |
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PARTNERS
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Name : |
Mr. K. Badrinarayanan |
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Designation : |
Managing Partner |
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Name : |
Mr. K. Vallabhai |
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Designation : |
Partner |
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Name : |
Mr. K. Balaji |
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Designation : |
Partner |
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Name : |
Mr. K. Natarajan |
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Designation : |
Partner |
KEY EXECUTIVE
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Name : |
Mr. K. Ramanathan |
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Designation : |
Finance Manager |
BUSINESS DETAILS
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Line of Business : |
Exporter of |
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Products : |
Ř Rough Blocks Ř Calibrated Tiles-Polished, Honed or Flamed Ř Counter Tops Ř Vanity Units Ř Superior Memorials Ř Commemorative Monuments Ř Random Slabs Ř Dimensioned Slabs All products are available in a variety of colorful granites |
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Exports : |
Monuments, Slabs, Tiles and Blocks |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C, D/A or D/P terms. |
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Purchasing : |
L/C or D/P terms |
GENERAL INFORMATION
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No. of Employees : |
700 (600 Factory, 100 Office) |
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Bankers : |
State Bank of Overseas Branch, 39, Balaji Salai, Chennai – 600001, Tamilnadu |
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Facilities : |
The concern avails comprehensive Packing Credit Limits,
Post Shipment Limits and Non-funded L/C Limits for imports |
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Banking
Relations : |
Satisfactory |
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Memberships : |
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Hindustan Chamber of Commerce, Chennai, ˛
South India Chamber of Commerce, Chennai, ˛
Indo German Chamber of Commerce, Chennai, ˛
Indo French Chamber of Commerce, Chennai , ˛
Monument Builders of |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.115.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.115.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
800.000 |
830.000 |
970.000 |
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LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Enterprising Enterprises Company Profile
Their mainline products incorporate rough blocks, calibrated tiles, counter tops, vanity units, superior monuments, and a range of random or dimensioned slabs used in the international construction industry. All this is available in a variety of colourful granites.
Founded in 1972 exclusively for the purpose of exporting
international standard polished granite, and being the first company of its
kind in
Enterprising Enterprises has achieved great heights and is
today
Backed by its own quarries and more than 40 varieties of
materials from more than three states of
Quality is of the utmost importance, which is achievable by continuous investment in state of the art machinery and technology.
The company was the first in
Being the premier supplier of quality Indian granites, they can offer a very wide range of products
Products Of Enterprising Enterprises
Enterprising Enterprises is striving hard to keep up this spirit and the leadership qualities through indomitable sprit of excellence.
Their every day endeavor is to remain on top while giving priceless product at an affordable price.
Rough Block:
All of their materials are available for export to other
processors worldwide for their own use. Exacting international quality
standards are adhered to with regular shipments to all regions of the world.
Available for export at an affordable price, FOB any
Polished Random Slabs:
All their materials are available in all thick nesses, both metric and Imperial. Slab sizes vary depending on the material selected, however they always try to ensure the largest sizes possible.
Polished and Calibrated Tiles:
All their materials are available in sizes from 150mm x 150mm upwards to 610mm x 610mm. They are produced with the most sophisticated tile plant currently made, water cut, gauged, calibrated and chamfered.
Monuments:
Enterprising Enterprises has always been a trend setter, and with self-developed innovative techniques, they have achieved new milestones in the production and processing of granite stones.
Their commitment to work and the years of research has
made us a front runner in this industry. All their materials are available in
all sizes for export and they are specialized in all types of monuments. They
have been exporting monuments to many countries including U.S.A, U.K,
Textures:
The normal finish for most of their granites is a deep, mirror polish, however for those projects whereby safety may be an important consideration they offer various other solutions such as honed and flamed textures.
A broad selection of bush-hammered, axing and fine through to coarse punched processes may also be specified.
Enterprising
Enterprises is backed by more than 40 varieties of materials and some of the
popular materials like Star Galaxy, White Galaxy and English Teak were first
found, promoted and successfully marketed by Enterprising Enterprises.
They also have
exclusive materials such as Summer Sky, Royal Brown, Dynamic Blue, Silk Blue,
Lawmens Blue and Sea Waves.
The materials
available for export are Blue Fantasy, Paradiso Bash, Paradiso Classic,
Himalayan Blue, Hassan Green, Colombo Juparana, Indian Juparana, Solar
Juparana, Kashmir White, Pudukottai Yellow (Gibli), Sivakasi Yellow, Imperial
White, Multi Colour Kanakapura, Coral Blue, Silk Blue, Violet Blue, Summer Sky,
Viskont White, English Teak, Daisy, Star Galaxy, Dynamic Blue, Lawmens Blue,
White Galaxy, Green Rose, Kuppam Green, Sea Weed Green, Sea Waves and 10
varieties of Black materials.
Most of these
materials are of totally exclusive Enterprising production.
Please note that
these are average samples only. Due to granite being a natural material, rough
block, slabs, tiles, and monuments are all liable to vary in colour and
veining, therefore absolute resemblance cannot be guaranteed.
They are also able
to procure alternative Indian granites for those wishing to place their orders
completely 100% with their company.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.98 |
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1 |
Rs.82.67 |
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Euro |
1 |
Rs.56.02 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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