MIRA
INFORM REPORT
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Report Date : |
25.09.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Muthu Gounder
Colony, Harur, Dharmapuri District, 636903, Tamilnadu |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1992 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA0796B |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturing of
Granite Monuments |
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 : |
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 having satisfactory means of their own. Their
trade relations are fair. Payments are correct and as per commitments. The report was
based on an interview with Mr. Srinivasan (General Manager) of the concern. |
LOCATIONS
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Registered
Office/ Headquarters/ Factory : |
M. G. Colony,
Harur, Dharmapuri District |
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Tel. No.: |
91-4346-222555/91-4346-222266
/ 223999 |
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Fax No.: |
91-4346-222666 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq.ft |
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Location : |
Owned |
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Branch office
/ Corporate Office : |
Flat 2AB, Block
IV, Kences Enclave no.1, |
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Tel. No.: |
91-44-28140999/
91-44-28142333 |
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Fax No.: |
91-44-28140896 |
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E-Mail: |
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Website: |
PARTNERS
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Name : |
Mr. M Ramasamy |
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Designation : |
Partner |
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Name : |
Mrs. Shanti
Ramasamy |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Shrinivasan |
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Designation : |
General Manager |
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Name : |
Mr. Sanekram |
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Designation : |
Export Executive |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Granite Monuments |
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Exports : |
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Countries : |
European
Countries and |
GENERAL INFORMATION
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No. of
Employees : |
20 |
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Bankers : |
State Bank of |
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Facilities : |
The subject is reported
to enjoy substantial facilities from its bankers |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries : |
A G Granites
Private Limited, Chennai Line of Business:
Manufacturer of Monuments and Flaps |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000
millions |
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Borrowed : |
-- |
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Total : |
Rs. 10.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
180.000 |
160.000 |
140.000 |
LOCAL AGENCY FURTHER INFORMATION
Website details
are attached herewith:
The company
is situated in Harur, a pleasant hilly location in the southern part of
Started 15 years
ago in a modest way, the company is today a corporate giant enjoying a
significant global status by occupying a special place in the multinational
market of Granite Monuments. The monuments produced at Amman Granites are an
international favourite thanks to the highest quality, strict adherence to the
customers' specifications and timely delivery to the products.
The
organization is led by Mr. Ramasamy, the Managing Director, a man of vision.
His impeccable skills in the Granite industry, his work ethics and
steadfastness set the tone for the company's success today. AMMAN GRANITES is
always ready to adopt the latest global technology in monument production so as
to cope with the ever-increasing demand for the product from its existing as
well as new clients all over the world.
Amman Granites
is regarded by its global customers as "No.1 Monument Specialists"
, a real rewarding title earned only through its total focus on monument
production. "Global recognition for their products" has been guiding
principle ever since inception.
“
Today AMMAN GRANITES is
regarded as the No. 1 monument specialist in the global monument market. In the
uncompromising expectations of its beloved customers or constantly fulfilled in
each and every aspect. The management's strong will coupled with a constant
endeavor to produce nothing but the best has made it possible.
The
company is situated in a strategic and pleasant hilly area - HARUR in the southern
part of
Monuments
are currently exported to
Production
is scheduled in such a way that it exactly meets the delivery
schedules fixed by the customers. People at Amman Granites work in
shifts operating round-the-clock. In fact sunsets and sunrises are never
felt inside the factory premises. The work goes on in shifts – all towards
realizing the on- time- delivery plan.
Being
the chief of the administrative hierarchy, Mr.Ramasamy,
the Managing Director, has inherited the visionary
and insightful attitude from this beloved father, late Mr. Muthu Gounder.
Mr. Ramasamy is constantly striving and working hard to carry forward the company towards newer horizons in the global granite monument market. His sustained efforts translate into a bundle of inspiration for the staff and workers of Amman Granites to work with a sense of commitment and forward thinking.
In order to meet the demand of different customers in
different parts of the world, the company maintains both own and tie-up
quarries of different variety of stones. The range of colours, include INDIAN BLACK, VIZAG BLUE, PARADISO,
HIMALAYAN BLUE, WHITE GALAXY, GREEN, RED etc.
AMMAN GRANITES is a major producer of rough dimensional blocks in BLACK, PARADISO, PREMIUM KUNNAN
material and REGULAR BLACK.
Three dimensional blocks are exported to
Perfection in
quality has been the company's prime motto ever since production was
started. The strict control of quality standard is adhered at every stage
of production. The one reason why the monuments are sought out globally is due
to their captivating designs – a mixture of exquisite workmanship
and sentimental expressions. The research and development wing,
which is a part of the production, takes into account, besides quality, the
sentimental value also.
Perfection
in quality has been
Keeping
in view the sentiments involved in monument production, due importance is given
to the artistic appearance of the monuments. Outstanding artisans hand-carve the intricate designs and
the drawing on the stones is done with the help of diamond pens. Granite
ball,urns, pillars and flower vases are an added speciality.
Amman Granites does not rest with augmenting its business plans alone. If
business is one eye, service to the society is the other eye of Amman Granites.
A part of the profit is spent towards social welfare programmes, like
developing roads for villages, providing pure drinking water to the local populace
and extending support towards fulfilling the educational needs -
Awards:
Ø Special Awards from Capexil for uncompromising standards of excellence
continuously since 1999 till 2002
Ø Certificates of merit
Ø Best Exports Performance Awards
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.39.82 |
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1 |
Rs.80.85 |
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Euro |
1 |
Rs.56.22 |
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 |
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 |
YES |
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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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55 |
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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