MIRA
INFORM REPORT
|
Report Date : |
06.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
PRADHAN
INTERNATIONAL |
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Registered Office : |
131,
10th A Main, 1st Block, Jayanagar, Bangalore-560011,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Exporters
of Incense Sticks, Herbal Products, Herbal Extracts and Ayurvedic Medicines. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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
40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established and reputed company having satisfactory track. Partners
are reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. 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/ Factory : |
131,
10th A Main, 1st Block, Jayanagar, Bangalore-560011,
Karnataka, India |
|
Tel. No.: |
91-80-2656-1228/
2420/ 8349 |
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Mobile No.: |
91-9341901289 |
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Fax No.: |
91-80-26561447 |
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E-Mail : |
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Area : |
10000
Sq.ft. |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. H.
R. Jayakumar |
|
Designation : |
Partner |
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Date of Birth/Age : |
56 years |
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Experience : |
40
years |
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Name : |
Mr. H.
Pawan |
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Designation : |
Partner |
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Date of Birth/Age : |
30
years |
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Experience : |
10
years |
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Name : |
Mr. H.
R. Hanumantha Kumar |
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Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Exporters
of Incense Sticks, Herbal Products, Herbal Extracts and Ayurvedic Medicines. |
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Products : |
More
than 100 ranges of Incense, Sticks and Cones |
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Exports to : |
Saudi
Arabia, UAE, Egypt, Muscat, Mauritius and Singapore |
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Imports from : |
China,
France and Taiwan |
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Terms : |
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Selling : |
L/C
and Direct, Local Sale : 30 to 60 days |
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Purchasing : |
Local
Purchase : 30 to 60days |
GENERAL
INFORMATION
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Suppliers : |
S. H.
Kelkar & Company, Mumbai Fine
Fraqrances, Mumbai |
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Customers : |
Arvind
Agencies, Ahmedabad Acharya
Products, Mumbai |
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No. of Employees : |
50 |
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Bankers : |
State
Bank of Mysore, Jayanagar, 3rd Block, Bangalore-560011 |
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Facilities : |
5.000
millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
Suresh
& Company Chartered
Accountants, Bangalore |
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Membership : |
All
India Agarbathies Manufacturing Association, POFAI, Mumbai Federation
of Karnataka Chambers of Commerce and Industry |
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Associates/Subsidiaries : |
Pradhan
Perfumes, Bangalore Devtha
Industries, Bangalore |
CAPITAL STRUCTURE
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Capital
Investment : |
|
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Owned : |
10.000
millions |
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Borrowed : |
-- |
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Total : |
10.000
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2007 (Projected) |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
130.000 |
120.000 |
100.000 |
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Profit/Loss for the year |
12% |
12% |
12% |
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Export Value |
130.000 |
120.000 |
100.000 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details :
India is
a vast country rich in culture and heritage. From the heart of this country,
they at Pradhan Perfumers present themselves as the manufacturer of some smooth
fragrances and perfumes prepared by the amalgamation of different herbs and
scents. A trusted and admired name for quality incense sticks the company is
supplying a wide range to both Indian and domestic buyers.
They have been ruling over the entire market for 31 glorious years as one of
the leading manufacturers, exporters and suppliers of incense sticks and cones.
They are committed to serve our customers with the best product line. Pradhan
Perfumers is located in Bangalore, which is one of the known hubs for Incense Sticks
manufacturing from India. At Bangalore, the incense sticks making enjoys the
status of an art for centuries.
Easy availability of essential raw materials coupled with modern production
line makes it possible to offer medium and large quantities at competitive
pricing in a minimum period of time. Their sisters concerns, Pradhan
International and Devatha Industries, with separate production facilities, are
already well established names in this business, assuring uninterrupted supply.
The company is a
recipient of Export Merit Award by the Government of India successively for
three times in a row.
They are a
customer led firm with a strong focus on maintaining highest level of customer
satisfaction through quality products and efficient services. They are also
known for product originality, on-time supplies and price affordability.
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 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.44.30 |
|
UK
Pound |
1 |
Rs.85.83 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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