MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
THE DEHYDRATING & MILLING INDUSTRY LTD |
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Registered Office : |
Balance John Road, Camp De Masque, Flacq |
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Country : |
Mauritius |
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Financials (as on) : |
30.06.2005 |
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Date of Incorporation : |
28.08.03 |
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Com. Reg. No.: |
47430 |
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Legal Form : |
Private |
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Line of Business : |
Import & distribute dry foods on the local market. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
NAME OF COMPANY
THE DEHYDRATING & MILLING INDUSTRY LTD
ADDRESS
BALANCE JOHN ROAD
CAMP DE MASQUE
FLACQ
TEL: (230) 416-5601
INCORPORATED
28.08.03
STATUS
Private
CO NO
47430
DIRECTORS
Mr. Amanoollah Hooseny
Mrs. Faeza Hooseny
SHAREHOLDERS SHARES
Mr. Amanoollah Hooseny 150
Mrs. Faeza Hooseny 100
ISSUED CAPITAL
RS 25,000
SIZE
The company’s registered office and business premises are both located at Balance John Road, Camp De Masque, Flacq.
ACTIVITIES
Import & distribute dry foods on the local market.
EMPLOY
6
FINANCE
Turnover: Rs. 5.8 million
Profit: Rs. 260,144.00
EPS: Rs. 1,040.58
OBSERVATION
Created in August 2003, the above company was formerly known as Dehydrating & Mills Industries Ltd. Though a relative new enterprise, the company has achieved satisfactory trading results. Turnover which amounted to Rs.3.2 million in 2004 grew up to Rs 5.8 million in 2005. Profits on the other hand stood at Rs. 260,144.00. The company’s performance for 2005-2006, are expected to yield better results still.
CREDITWORTHINESS
Generally prompt with payment. Buyer is in our opinion capable for business transactions.
BANKERS
The Mauritius Commercial Bank Ltd
The State Commercial Bank Ltd
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THE DEHYDRATING & MILLING INDUSTRY LTD |
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INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2005 |
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RS |
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Turnover |
5,807,914 |
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Cost of sales |
(4,028,806) |
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Gross Profit |
1,779,108 |
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Administrative expenses |
(953,533) |
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Other operating expenses |
(381,000) |
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---------------------------- |
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Operating Profit |
444,575 |
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Finance costs |
(132,355) |
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Profit before taxation |
312,220 |
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Taxation |
(52,076) |
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Profit for the year |
260,144 |
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============== |
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Earnings per share |
RS 1,040.58 |
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BALANCE SHEET - 30 JUNE 2005 |
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RS |
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ASSETS |
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NON CURRENT ASSETS |
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Property, plant and equipment |
1,181,250 |
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CURRENT ASSETS |
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Inventories |
867,223 |
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Trade and other receivables |
860,626 |
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Cash in hand |
33,806 |
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1,761,655 |
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Total Assets |
2,942,905 |
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EQUITY AND LIABILITIES |
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Capital And Reserves |
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Share Capital |
25,000 |
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Reserves |
762,093 |
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787,093 |
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NON CURRENT LIABILITIES |
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Shareholders' loan |
49,270 |
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CURRENT LIABILITIES |
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Trade and other payables |
706,305 |
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Bank overdraft |
1,198,161 |
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Taxation |
202,076 |
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2,106,542 |
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Total equity and liabilities |
2,942,905 |
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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/normal. |
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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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%)