MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SREE LAKSHMI PRASANNA PACKERS |
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Registered Office : |
No.-12 / 1 A, Lakshmipura Main Road, Bangalore -560090, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and supplier of all types of wooden packing cases for use
in machinery packing as well as all packing jobs also for shipbuilding |
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 6000 |
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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 concern. Proprietor is
experienced and respectable. Trade relations are fair. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory: |
12/1A, Lakshmipura Main Road, Chikkabanavara Post, Bangalore – 560090,
Karnataka, India |
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Tel. No.: |
91-80-28389375 |
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Mobile No.: |
91-9341222613 |
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Fax No.: |
91-80-28389375 |
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Area : |
20000 sq. ft. |
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SOLE PROPRIETOR
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Name : |
Mr. L. Manjunatha Rao |
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Designation : |
Proprietor |
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Date of Birth/Age : |
33 years |
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Qualification : |
B.E.Mech |
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Experience : |
13 years |
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Mobile : |
91-9341666094 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers and supplier of all types of wooden packing cases for
use in machinery packing as well as all packing jobs also for shipbuilding |
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Products : |
·
Wooden Packaging Boxes ·
Wooden Packaging Cases ·
Wooden Packaging Crates |
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Exports : |
In Process |
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Terms : |
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Selling : |
30 days |
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Purchasing : |
15 days |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
15 (12-Office, 3-Other) |
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Bankers : |
State Bank of Mysore, HMT Industrial Estate Branch (Bangalore – 31) |
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Facilities : |
Rs.0.200 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. R. R. K. Sharma Chartered Accountants |
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Address : |
Bangalore |
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Memberships : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 Millions |
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Borrowed : |
- |
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Total : |
Rs.1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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9.600 |
5.900 |
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Profit/Loss for the year |
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About 10% |
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Average value of inventories at any given time: Rs.0.500 Million
LOCAL AGENCY
FURTHER INFORMATION
Website
details attached:
Packaging has become an essential part of the supply chain
in relation to safety, organoleptic characteristics, ergonomics and
flexibility. If goods are stored in cartons, crates and boxes, they should be
bundled into appropriate sizes by using receptacles. The sizes should enable
easy loading and unloading. Subject was established in 1993 to provide
strategic backward integration in the form of packaging solutions to various
industries. Their company happens to be the most sophisticated packaging house
in India. They are an eminent manufacturer and supplier of Wooden Packaging
Cases, Boxes and Crates.
With their experienced craftsmen and creative designers, they can help bring
together great products and ideas with specialty wooden box packaging for
superior customer presentation. They have built special wooden boxes for wine,
beer and spirits, cigars, soap, candles, tea and coffee, machine parts,
pharmaceuticals, books, flowers, pies and cakes – the list goes on.
State-of-the-art technology, world-class quality and a highly skilled and
dedicated team have combined to position them as the first-choice supplier of
high value added packaging. Their company is a member of the prestigious
Karnataka Small Scale Industries Association (KASSIA).
Product Range
The concern boasts of its strengths in understanding the unique
packaging requirements of each customer and has knowledge of various allied
packaging line especially for the global demands of quality in relation to
export of goods. Subject Packers has consistently introduced innovative
packaging solutions to satisfy even the most demanding and quality conscious
customers. They are engaged in the manufacture and supply of the following
products:-
- Wooden Packaging Boxes
- Wooden Packaging Cases
- Wooden Packaging Crates.
Quality Assurance
The entire range of packaging solutions that the concern offers is high-tech
and aimed at replacing traditional packaging material by products which provide
significant benefits by the way of preserving the quality and other
characteristics over a longer time horizon. They have one of the most mature
quality management programs in the industry ensuring that 100% of their
projects are completed on schedule. Subject Packers ensures that their products
confirm to the international standards of quality and therefore, They check
them on the parameters of dimensional stability. Their Wooden Boxes, Cases and
Crates are made of high quality wood obtained from rubber tree, silver oak
trees and other trees and are further supported by nails and GI sheets; all
these giving the boxes, the requisite strength and durability.
Infrastructure
The transparent and professional management system and well delegated power
structure enable swift decision making at all levels. The infrastructure at
Subject Packers is facilitative, strengthening and supportive not only to their
company but also to their clients's business. Their concern is equipped with
hi-tech machinery such as bandsaw machines, etc. that facilitate production of
voluminous stock. They have industry experts who serve as their backbone. Their
team concern of professionals and experts. Due to their vast experience in the
industry, they are aware of all kinds of precautions and parameters that have
to be kept in mind during the production process. To further help them keep
abreast with the latest advancements, their management conducts regular
training sessions.
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 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.39.33 |
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UK Pound |
1 |
Rs.81.75 |
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Euro |
1 |
Rs.57.54 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
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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
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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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