MIRA
INFORM REPORT
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Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
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Name : |
TAMILNADU DAIRY FOODS |
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Registered Office : |
D-7, Ambattur Industrial Estate, South Phase, Chennai – 600 058, Tamil
Nadu |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHET09781C |
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PAN No.: [Permanent
Account No.] |
AABFT6413H |
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Legal Form : |
Partnership concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer of Food and Dairy Products including – Ice Cream and
Mineral water. |
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 40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern is doing well. It can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
D-7, Ambattur Industrial Estate, South Phase, Chennai – 600 058, Tamil
Nadu |
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Tel. No.: |
91-44-26246405 |
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Fax No.: |
91-44-26245322 |
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E-Mail : |
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Website : |
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Area : |
2500 sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. K Thiruppathi Raja |
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Designation : |
Partner |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Under Graduate |
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Name : |
Mr. K Kannan |
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Designation : |
Partner |
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Date of Birth/Age : |
41 Years |
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Qualification : |
Under Graduate |
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Name : |
Mr. N V P Prasad Rao |
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Designation : |
Partner |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Food and Dairy Products including – Ice Cream and mineral
water |
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Brand Names : |
“Amritha” |
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Imports : |
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Products : |
Machinery and Packing Materials |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit ( Dealers 7 Days,
Distributor – 30 Days) |
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Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Dealers |
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No. of Employees : |
30 |
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Bankers : |
TamilNad Mercantile Bank Address: Anna Nagar Branch |
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Facilities : |
C/C – Rs. 5.000 millions |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Sadashivam and Company Chartered accountant |
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Address : |
D -7, Ambattur, Industrial Estate, South Phase, Chennai – 600 058,
Tamil Nadu, |
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Tel. No.: |
91-44-26424824 |
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Associates/Subsidiaries : |
·
Tamil Nadu Aqua Food Products Address: D -7, Ambattur, Industrial Estate, South Phase, Chennai – 600
058, Tamil Nadu, Activity: Manufacturer of Mineral Water ·
KTR Food Products Address: D -7, Ambattur, Industrial Estate, South Phase, Chennai – 600
058, Tamil Nadu, Activity: Manufacturer of Ice cream mix |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 60.000 millions |
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Borrowed : |
Rs.40.000 millions |
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Total : |
Rs.100.000 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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15.000 |
10.000 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
·
Mass Traders, Karaial (
Tanjvoor, Tamil
Nadu
WEBSITES DETAILS:
Enjoy finger licking
ice creams and premium quality mineral water at the most exciting prices...
Empowered by a brilliant expertise and enriched with an inherent passion for
perfection, Tamilnadu Dairy Foods is a renowned brand in the dairy industry.
They were established in 1999 with a single aim- to create a niche for their
products and put their selves in the forerunner position. As a result of their
committed attitude and customer centric approaches, they have achieved success
beyond their expectations. They are a highly reputed manufacturer, supplier and
exporter of a variety of Food and Dairy Products including delicious Ice Creams
and Mineral Water which are of world class quality and made as per
international norms. Their products are marketed under the brand name of
"Amirtha".
Backed with a team
of highly skilled and innovative professionals, they have acquired peerless
expertise in the production of these items catering to the increasing market
demands. At Tamilnadu Dairy Foods, their chief endeavor is to earn the complete
satisfaction of their customers offering them finger licking and hygienic
products. And since their establishment, they have been successfully winning
your trust through their premium products, innovative ideas and extraordinary
service quality. They are also an importer of all the manufacturing machines,
milk powder and packing material from the reputed markets of
Established in the
year 1999, Tamilnadu Dairy Foods is a highly reputed manufacturer, supplier and
exporter of a range of premium quality Food and Dairy Products. Their product
basket carries the following mouth watering and hygienic items-
·
Ice
Cream
·
Mineral
Water.
Quality
At Tamilnadu Dairy Foods, they follow a stringent quality control policy with
the aim to develop products and services which fully satisfy their customers'
expectations at the most competitive prices. With a highly qualified and
trained workforce, their company emphasizes upon creating safe, hygienic and
tasty products and improve its product and service quality through continuous
improvement in the working methods. During the manufacturing process, premium
quality milk powder and packaging materials are used and products are tested at
every level so that they comply with the international quality standards. In
addition, they are highly concerned about delivering an excellent level of
service to their customers and believe in establishing long term relationships
with them based on loyalty and trust.
Infrastructure
Tamilnadu Dairy Foods is enriched with a strong infrastructural base and that
is the secret behind the stability and rapid growth, it has been enjoying since
its inception. This robust infrastructural base of their company primarily
consists of a world class manufacturing facility which houses the units like
production, quality control, testing, RandD, etc. The manufacturing unit is
loaded with advanced machinery imported from
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.40.26 |
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1 |
Rs.81.15 |
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Euro |
1 |
Rs.56.28 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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46 |
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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