MIRA INFORM REPORT

 

Report Date :

15.03.2007

 

IDENTIFICATION DETAILS

 

Name :

M TULSIDAS & CO

 

 

Registered Office :

31, Sir Seewoosagur Ramgoolam Street, Port Louis

 

 

Country :

Mauritius

 

 

Date of Incorporation :

02.10.1989

 

 

Legal Form :

Societe

 

 

Line of Business :

General traders dealing in all kinds of textile products and others.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US $ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

NAME OF COMPANY

 

M TULSIDAS & CO

 

 

ADDRESS

 

31, SIR SEEWOOSAGUR RAMGOOLAM STREET

PORT LOUIS

TEL: (230) 242-0590

FAX: (230) 242-0592

 

 

ESTABLISHED ON

 

02.10.1989

 

 

STATUS

 

SOCIETE

 

 

DIRECTORS & SHAREHOLDERS               SHARES

 

MR HARKISHEN MANGHARAM TULSIDAS                                            holds                1/3

MR RAMESH MANGHARAM TULSIDAS                                     //                      1/3

MR HARESH MANGHARAM TULSIDAS                                      //                      1/3

 

 

ACTIVITIES

 

General traders dealing in all kinds of textile products and others.

 

 

FINANCE: (Estimated)      Year 2005 / 2006

 

Turnover                                                                                    RS 14.3 million

Stock                                                                                        RS 7,400,000

Fixed Assets                                                                             RS 4,700,000   

Value of immovable properties                                                     RS 10 million

Co’s ShareCapital                                                                      RS 500,000

 

 

 

 

 

 

 

NOTE

 

In the absence of official data respecting the affairs of the company, we have had to rest content with approximate figures obtained from private and unofficial source which are however convincing and reflect a rather true picture of the company’s current financial situation.

 

 

OBSERVATION

 

M. Tulsidas & Co was initially set up as a trading concern during the early 1930’s. This is quite an old family business establishment which has been maintained by successive generations. The concern has built up a name in trade and today, there are several businesses located in the main local towns that are offshoots of Mangharam Tulsidas.

 

 

EMPLOY

 

15

 

 

LOCATION

 

The concern of M.Tulsidas occupies a strategic position right in the busy Sir William Street, Port Louis which is indeed a branch of the business of M.Tulsidas originally located at Desforges Street, Port Louis.

 

 

CREDITWORTHINESS

 

Buyer is considered good for US $ 150,000.

 

 

BANKERS

 

BANK OF BARODA LTD- PORT LOUIS

HONG KONG AND SHANGHAI BANKING CORP- PORT LOUIS

STATE BANK OF MAURITIUS- PORT LOUIS

 

 

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

 

 

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