MIRA
INFORM REPORT
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Report Date : |
04.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRP EXPORT |
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Registered Office : |
Theekutheru
Village, Melur Taluka, Madurai-625122, Tamilnadu |
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Country : |
India |
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Financials As On: |
31.03.2008 |
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Date of Incorporation : |
February 2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRIP00915F |
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PAN No.: [Permanent
Account No.] |
AAGFP7083GS |
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Legal Form : |
Partnership
concern with an unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and
Trader of Granite, Tiles. |
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 : |
Good |
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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. Proprietor of the concern is
reported as experienced, respectable and having satisfactory means of their
own. His trade relations are fair. Payments are 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 : |
Theekutheru
Village, Melur Taluka, Madurai-625122, Tamilnadu,
India |
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Tel. No.: |
91-452-2420346/2420347 |
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Fax No.: |
91-452-2420350 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Near
Veera Kali Amman KoilKeelavalavu Village, Melur Taluk, Madurai Dist 625102
Tamilnadu, India |
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Tel. No.: |
91-44-2428290 |
SOLE PROPRIETOR
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Name : |
Mr
Palanisamy |
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Designation : |
Proprietor |
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Address : |
279
Sarveswara Koil Street, Anna Nagar, Madurai 625020 Tamilnadu, India |
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Tel No: |
91-452-2535055
/ 2520114 / 2420346 / 349 |
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KEY EXECUTIVES
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Name : |
Mr.
Malaisamy |
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Designation : |
Office
Manager |
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Mobile No : |
91-452-2420346 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Trader of Granite, Tiles. |
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Exports : |
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Products : |
Rough
Granite |
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Countries : |
America,
China, Japan, Hongkong, Taiwan and USA |
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Terms : |
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Selling : |
L/C Cash |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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No. of Employees : |
5 |
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Bankers : |
Indian
overseas Bank, Melur Branch, Madurai |
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Banking
Relations : |
Satisfactory |
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 : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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150.000 |
LOCAL AGENCY FURTHER
INFORMATION
HISTORY
This firm is the export wing of PRP Group of companies. Now exports of rough blocks are being done under this firm. The firm was started in 2003. The firm first started as a partnership firm
with Mr Ramaya and Mr Palanisamy with few others under the name of PRP
Granties. Later during 1996 there was
a split and now PRP granites is a
proprietorship firm with Mr Palanisamy being the owner. Their name has spread far and wide for the
quality of Network Raw Silk Granites that they export. They are a 100% export oriented unit and are
registered with the MEPZ. (Madras Export processing Zone).
The firm has been certified by the EPCG – Certificate Number
- 23/2004/AM'03/EPCG-I for the export of granites.
They have a very good name in Madurai and are doing
excellent export business. They have
also received Best Export Awards from the Government of India.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.39.97 |
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UK Pound |
1 |
Rs.79.78 |
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Euro |
1 |
Rs.62.60 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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