MIRA
INFORM REPORT
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Report Date : |
04.10.2007 |
IDENTIFICATION DETAILS
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Name : |
NIRANJAN DHALL MILL |
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Registered Office : |
No- 2, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1936 |
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TIN No.: |
33501100621 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Producers and
exporters of All Types of Dhall including Bengal Gram
Dhall and Thoor Dhall, Pulses and Other Food Products, Spices and Rice. |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman.
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
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Registered Office : |
No- 2, |
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Tel. No.: |
91-44-25993040 |
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Mobile No.: |
91-9841973535 |
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Fax No.: |
91-44-25993118 |
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E-Mail : |
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Website : |
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Area : |
400 sq. ft. [Ground Floor – Rented] |
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Factory : |
60, Udaya Sooriyan, |
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Tel. No.: |
91-44-25993040 |
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Fax No.: |
91-44-25993118 |
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Location : |
2500 sq. ft. [Ground Floor – Owned] |
SOLE PROPRIETOR
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Name : |
Mrs. M. Rani |
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Designation : |
Proprietor |
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Address : |
No- 2, |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Under Graduate |
BUSINESS DETAILS
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Line of Business : |
Producers and
exporters of All Types of Dhall including Bengal Gram Dhall
and Thoor Dhall, Pulses and Other Food Products, Spices and Rice. |
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Products : |
·
All Types of Dhalls
including Thoor Dhall ·
Pulses and Other
Food Products ·
Spices ·
Rice. |
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Exports : |
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Products : |
White Dhall Mong |
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Countries : |
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Imports : |
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Products : |
Fried Dhall and Spices |
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Countries : |
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Terms : |
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Selling : |
L/C and Against Delivery of Goods |
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Purchasing : |
Cash and Credit [30 days] |
PRODUCTION STATUS
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Particulars |
Monthly
Sales in |
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K. S. P. [Pon Vandu Brand] Dhall of different Varieties |
Rs. 0.800
Million |
GENERAL INFORMATION
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No. of Employees : |
8 [In Office : 2 and In Factory : 6] |
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Bankers : |
State Bank of Overseas Branch, Chennai – 600002 Credit Limit : Rs. 4.000 Millions [At present the company has transferred the current A/c and over draft
facilities to the below mention Bank] Kotak Mahindra Bank Parry’s Branch, Chennai Over Draft Rs. 4.000 Millions [not yet transfer from the above bank] |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Suralivel Chartered Accountants |
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Address : |
Nungambakkam, Chennai – 600034 |
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Tel. No.: |
91-44-28272096 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
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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15.000 |
11.400 |
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Profit/Loss for the year |
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20 % Total
Turnover |
16 % Total
Turnover |
LOCAL AGENCY FURTHER INFORMATION
The above concern is originally started during the year 1936 family
concern, after there is change in constitution in the family. Now the concern
is established during the year 1987 in the name of NIRANJAN DHALL MILL.
Trade Reference
- Mainly to Wholesale Traders in
Observation Point
Name Board :
Not Sighted
Land Mark : Near to the Tolgate Bus Stand at
Thiruvottiyur, Chennai
Office Appearance : Fair
Total No of Floors : three Floors
Area of Office and Factory : Residential Area
Locality : Upmarket
Office Location : Side Lane
Office and Factory : Owned Area
Note
The office, factory and residence are in the
same premises. But the address is changed to the office and factory [i.e.] The
Building is joint with both the street of
The Export order is sent according to the
customers requisition. [Dhall,
Previously the company stopped the export of
above products for the past three year back. Again they now started the export
of above products from 2005 only.
As Per Website
Subject was established in the year 1936, and backed with a
rich experience of more than seven decades, established itself as a pioneer in
its field. They have achieved this position by adhering to the international
standards for quality, food hygiene packaging and an ongoing commitment to
their highly esteemed customers. Being managed by fair business practices and
dedicated to earn the complete satisfaction of the customers, subject is known
as one of the oldest and most prominent producers and exporters of All Types of Dhall
including Bengal Gram Dhall and Thoor Dhall, Pulses and Other Food Products,
Spices and Rice. Their
specialization lies in Dhall production and they are a 100% export oriented
company with their massive market base in all over the country and around the
world. This global presence of their company has become possible due to their
dedicated attitude in providing the customers unmatched quality products and
services. For decades, they have grown into prominence through dedicated
customer care, and they are determined to continue their journey exhibiting the
same brilliance as ever before.
Quality
Starting from the procurement of products from highly reliable sources to their
packaging and final delivery, they take effective quality control measures to maintain
the natural aroma and taste of their food products. At their in-house quality
control unit, they have sophisticated fumigation chambers and advanced
packaging facilities. Besides, every stage of the processing of their products
is done under the supervision of their highly qualified experts. These
stringent quality checking measures help them to maintain the highest quality
standard of their products and thus, to win the confidence of their clients as
the most reliable source for premium quality food products.
Infrastructure
Subject is resorting to unique and latest technology of processing facilities
in its production unit. They also have the involvement of modern technology for
quality control, packaging and R&D which facilitates them with every
infrastructural support in their operations. Besides, their workforce is highly
skilled and comprises of professionals with rich industry experience. The
combination of cutting edge technology and a dedicated workforce empowers them
to be at the acme of performance in their field.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.39.49 |
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1 |
Rs.80.41 |
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Euro |
1 |
Rs.55.76 |
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 |
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 |
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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