MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
OBLI GRANITES |
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Registered Office : |
Recreation Club Road, Mettu Dam - I, Salem - 636 304, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.11.1979 |
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Legal Form : |
Partnership concern with an unlimited liability of the Partners. |
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Line of Business : |
Manufacturers and Exporters of Polished Granite monuments, Slabs and Granite Products. |
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 1200000 |
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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 concern having satisfactory track. Partners are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Payments are reported as correct and as per commitments. Your proposed business dealings of US $ 89000 can be considered against D/A or D/P terms. This report is based on an interview with Mr. Kannan, Marketing Manager of the concern. |
LOCATIONS
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Registered Office : |
Recreation Club Road, Mettu Dam - I, Salem - 636 304, Tamilnadu, India |
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Tel. No.: |
91-4290-231295/231389/231320 |
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Fax No.: |
91-4290-231279 |
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E-Mail : |
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Website : |
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Area : |
˝ Acre |
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Location : |
Owned |
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Factory 1 : |
Sellapillaikuttain Village, Omallur Taluk, Salem - 636 304, Tamilnadu |
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Area : |
50000 Sq. Ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mrs. Padmavathy |
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Designation : |
Managing Partner |
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Date of Birth/Age : |
57 Years |
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Qualification : |
Under Graduate |
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Experience : |
30 Years |
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Name : |
Mr. O. Ulanganathan |
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Designation : |
Partner |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Post Graduate |
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Experience : |
27 Years |
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Name : |
Mr. O. Mohan |
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Designation : |
Partner |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Post Graduate |
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Experience : |
25 Years |
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Name : |
Mr. Obli Chetty |
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Designation : |
Partner |
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Date of Birth/Age : |
67 Years |
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Qualification : |
Post Graduate |
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Experience : |
40 Years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Polished Granite monuments, Slabs and Granite Products. |
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Exports : |
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Products : |
All Products |
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Countries : |
Europe, Canada |
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Imports : |
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Products : |
All Products |
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Countries : |
Belgium, Japan, Korea |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C (90 Days ) |
GENERAL
INFORMATION
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Suppliers : |
* Winter Misra, India * M. L. Shah, India * Grantools, India * Carbodiam, Belgium * Akiyama, Japan * Young Boong/Samick, Korea * Sanwa Kenma, Japan * Sakuchi, Japan * IWA, Korea * Ashaki Diamond, Japan |
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Customers : |
Manufacturers, Wholesalers and Retailers. |
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No. of Employees : |
165 (25 persons in office and 140 persons in plant.) |
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Bankers : |
The Lakshmi Vilas Bank Limited Salem Town Branch, Basar Street, Salem - 636 301, Tamilnadu |
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Facilities : |
[Facility : Non Fund bank – Rs. 10.000 millions] |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
C. P. Sekar, Chartered Accountant |
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Address : |
5/51, Dr. Subbarayan Nagar, Mettu Dam - 636 401, Salem, Tamilnadu |
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Associates : |
> Bears Cave Estate - Coffee Plantation > Edassery Plantation - Coffee Plantation > Obli Towers (Richmond Realtors) - Real Estate > Obli Agriculture - Sugar Cane Cultivation > Obli
Spinning Mills - Cotton, Fibre, Yarn |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.300.000 Millions |
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Borrowed : |
--- |
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Total : |
Rs.300.000 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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89.000 |
85.000 |
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Expected Sales (2007-08) :Around
Rs.90.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Business
Subject is engaged in as manufacturers and exporters of Polished Granite monuments, Slabs and Granite products.
The concern’s brand name is ‘OBLI’.
Subject imports 60% goods from Belgium, Japan and Korea against for segments - 120 days D/A, Polishing Abrasives - 90 Days D/A and for Blades - 120 Days D/A terms.
It is 100% Export Oriented Unit. Exports are made to France, Germany, U.K., U.S.A, Belgium and Holland against contract, credit upto 30 days, L/C or D/P terms.
Attached Web Details
India has a resplendent architectural history which can be witnessed in the creations of their temples, monuments & palaces. Traditional temple and Mogul architecture has seen the extensive use of stone for decoration. The gifts of Mother Nature and the wisdom of their skilled craftsmen have spellbound us with their creations in sculpture and stone carvings, breathing life into them.Even today marbles and granite adorn and decorate various modern buildings the world over.
India is one of the richest depositories of a large variety of exotic stones, marbles and granites. Hence India has become an important supplier of rough and finished granite and other decorative stones to the world.
The Concern was established
in the year 1970, under the stewardship of Mr.
R.Obli Chetty. Extensive experience in
mining and quarrying from 1977 has stood good ground for the export of granite
blocks and finished granite slabs and other products
.
Over these years the group, which is run as a family
business, has grown from strength to strength with the expansion and
diversification into other businesses.
Awards
Apart from a long standing reputation Obli Granites has bagged consecutively
the CAPEXIL - Chemical and Allied Products Exports Promotion Council
(Sponsored by Ministry of Commerce and Industry, Government of India) Award
in
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1999-2000
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2001-2002
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2002-2003
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2003-2004
Infrastructure
Apart from extensive experience in the contracting,
quarrying and mining of decorative stones, the concern has its own spacious
factory to process export orders. The factory premises extends over 25 acres,
with a built-up area of 35,000 sq.ft. Various sophisticated machinery have been
installed to meet the processing requirements of cutting, slicing, shaping and
polishing the granite stones as per export requirements.
Obli Granites has a range of tie-up arrangements with all major premium colour
granite quarries to sustain the quality and uniformity in colour.
Export
Its extensive experience in mining and quarrying has stood
good ground for its export business in granite blocks and finished granite
products.The reputation and success of Obli Granites as an 100 % Export
Oriented Unit is a result of its performance, consistent quality, unerring
delivery schedule, trained and skilled personnel, highly sophisticated
machinery and a capable management.
Obli is a specialist in carved stone
products for memorials and supplies about 145 containers per annum to its
clientele in the UK, France, Germany, Belgium, Ireland, Italy, Austria, USA,
Canada, Japan and other countries.
Location
The concerns operations are centred at the
town of Salem, which is strategically positioned on the road transportation
network. Therefore transportation of products to sea ports is convenient. The
Bangalore international airport is also easily accessible from Salem. The
factory is located in omalur which is just 18 kms from Salem town.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.28 |
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UK Pound |
1 |
Rs.80.87 |
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Euro |
1 |
Rs.57.68 |
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 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
NO |
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TOTAL |
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43 |
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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