MIRA
INFORM REPORT
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Report Date : |
17.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
LION DATES IMPEX PRIVATE LIMITED |
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Registered Office : |
Flat No: 8, Golden Perch Apartment, No: 2, Wheat Crofts Road,
Nungambakkam, Chennai – 600 034, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
03.02.2000 |
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Com. Reg. No.: |
18-44086 |
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CIN No.: [Company
Identification No.] |
U15131TN2000PTC044086 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEL02881E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Dates,
Dates Syrup, Honey, Mixed
Fruit Jam and Tamarind. |
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 38000 |
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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 and reputed company having satisfactory
track records. The company is doing well. It’s financial position is good.
Payments are correct and as per commitments. The company can be considered good for normal business dealings. It
can be regarded as a promising business partner in a medium to long-run. |
LOCATIONS
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Registered Office : |
Flat No: 8, Golden Perch Apartment, No: 2, Wheat Crofts Road,
Nungambakkam, Chennai – 600 034, Tamilnadu, India |
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Tel. No.: |
91- 044 – 28220168 / 28220169 |
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Mobile No.: |
91-9944446850 / 9944446811 / 9944446801 |
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Fax No.: |
91-44-28220167 |
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E-Mail : |
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Website : |
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Area : |
Large |
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Administration Office / Factory : |
4-A/3, Cauvery Road, Trichy - 620 002, India |
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Tel. No.: |
91- 431- 2730047 |
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Mobile No.: |
91-9944446849 |
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Fax No.: |
91- 431- 2730191 |
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Area : |
Large |
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Branches : |
Located at :
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DIRECTORS
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Name : |
Ms. Anitha Ponnudurai |
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Designation : |
Chairman cum Managing Director |
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Date of Birth/Age : |
26.06.1984 |
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Date of Appointment : |
03.08.2003 |
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Name : |
Mr. Palaniandi Ponnudurai |
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Designation : |
Director |
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Address : |
79, E.V.R. Nagar, Thiruvanai Kovil, Thiruchirapalli - 620005 |
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Date of Birth/Age : |
31.03.2004 |
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Date of Appointment : |
06.03.1957 |
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Name : |
Mrs. Maheswari Ponnudurai |
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Designation : |
Director |
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Address : |
79, E.V.R. Nagar, Thiruvanai Kovil, Thiruchirapalli - 620005 |
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Date of Birth/Age : |
15.01.1962 |
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Date of Appointment : |
31.03.2004 |
MAJOR SHAREHOLDERS
AS ON 30.09.2005
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Names of Shareholders |
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No. of Shares |
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P. Ponnudurai |
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100 |
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Maheswari Ponnudurai |
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9000 |
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Anitha Ponnudurai |
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7000 |
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Lakshmi Ammal |
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4000 |
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Total |
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20100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Dates,
Dates Syrup, Honey, Mixed
Fruit Jam and Tamarind. |
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Products : |
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Brand Names : |
Lion |
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Exports : |
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Products : |
Dates, Honey and Tamarind Jam, Pickles |
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Countries : |
Malaysia and Singapore |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Middle East |
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Terms : |
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Selling : |
L/C and Advance Payment |
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Purchasing : |
L/C and Advance Payment |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Distributors |
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No. of Employees : |
150 + 1000 Labour on daily wages |
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Bankers : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
L. Pandurangan and Company Chartered Accountant |
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Address : |
29, VYasaraje Nagar, Tiruchirapalli - 620006 |
CAPITAL STRUCTURE
AS ON 31st
March 2005
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20100 |
Equity Shares |
Rs. 10/- each |
Rs. 0.201
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.201 |
0.201 |
0.201 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.199 |
2.369 |
1.400 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.400 |
2.570 |
1.601 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
5.639 |
5.825 |
1.239 |
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TOTAL BORROWING |
5.639 |
5.825 |
1.239 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
15.039 |
8.395 |
2.840 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.251 |
4.699 |
2.449 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.252
|
9.670 |
4.203 |
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Sundry Debtors |
7.969
|
0.147 |
0.093 |
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Cash & Bank Balances |
13.534
|
2.356 |
2.210 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.715
|
0.800 |
1.050 |
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Total
Current Assets |
34.470
|
12.973 |
7.556 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
24.600
|
8.328 |
6.675 |
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Provisions |
2.082
|
0.949 |
0.490 |
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Total
Current Liabilities |
26.682
|
9.277 |
7.165 |
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Net Current Assets |
7.788
|
3.696 |
0.391 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
15.039 |
8.395 |
2.840 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover |
310.380 |
87.878 |
54.882 |
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Other Income |
10.592 |
10.315 |
4.203 |
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Total Income |
320.972 |
98.193 |
59.085 |
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Profit/(Loss) Before Tax |
9.241 |
2.880 |
1.100 |
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Provision for Taxation |
0.400 |
0.876 |
0.000 |
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Profit/(Loss) After Tax |
8.841 |
2.004 |
1.100 |
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Expenditures : |
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Purchases |
196.846 |
62.912 |
38.461 |
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Managerial Remuneration |
0.720 |
0.060 |
0.090 |
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Payment to Auditors |
0.015 |
0.015 |
0.010 |
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Bank Charges |
0.049 |
0.015 |
0.006 |
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Insurance Expenses |
0.251 |
0.061 |
0.000 |
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Advertisement |
43.578 |
12.844 |
4.191 |
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Depreciation & Amortization |
1.356 |
0.589 |
0.103 |
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Other Expenditure |
68.916 |
18.817 |
15.124 |
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Total Expenditure |
311.731 |
95.313 |
57.985 |
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Expected Sales (2008-09) : Rs.900.000 Millions
Expected Sales (2009-10) : Above Rs.900.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
2.75
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2.04 |
1.86 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.98
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3.28 |
1.86 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
22.15
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16.30 |
10.99 |
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Return on Investment (ROI) (PBT/Networth) |
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0.98
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1.12 |
0.69 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.44
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5.88 |
5.25 |
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Current Ratio (Current Asset/Current Liability) |
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1.29
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1.40 |
1.05 |
LOCAL AGENCY
FURTHER INFORMATION
Registered Office of the company has been shifted from 4-A/3, Cauvery
Road, Trichy - 620 002, India to the present address w.e.f. 04.05.2006
FIXED ASSETS
- Plant and
Machinery
- Vehicles
- Trade
Mark
- Air Conditioner
- Computer
- Furniture
- Machinery
AS PER WEBSITE
PROFILE
Founded in the year 1978. Lion Dates served to the people who wanted quality. Later in the year 1995 had expanded the organization structure and change to Lion Dates (Private) Limited Lion Dates (Private) Limited, was the first company to introduce a Professional distribution and marketing system for the Dates to reach the consumers. Lion Dates P Limited was the first company to remove the seeds from the dates and pack in Various packing in cake form, to reach each and every consumers per their requirement. The hygienic condition maintain during processing and packing of fruits, which will match With international standards. Offering a wide range of products and packing options which will suit all consumers. Lion Dates has won the heart of the Indian and other foreign countries consumers doing exports, Lion Dates has also elevated to greater heights in the recent Years. Lion Dates has made a mark in the heart of people not only in India, even in East Asian countries and Europe.
Taking of exports, Lion Dates has also elevated to greater heights in the recent years. Not only in India, Lion Dates has made a mark in the heart of people in East Asian countries and Europe.
Lion Dates (Private) Limited, has introduced its new products dates syrup, Honey, Tamarind and much More. Recent additions to hit the stands are Jam & Pickles.
DATES
Mythology has that Dates was given to mary for consumption, when she was expecting Jesus, Known for Its rejuvenating properties, this tradition of consuming dates during pregnancy and general health is followed till date. Dates is a part of the stable diet in the middle east and African regions, where they are mostly grown. Dates have natural sweetness and mild Distinctive flavour, which is satisfying when consume as a fruit and as an ingredient in many Dishes as formulations.
Properties of Dates
Apart from its great taste, its with nutrition making it one of the most single health foods available with almost 70% of its flesh constituted as sugar, In the form of easily digestible glucose, eating Dates is a quick source of high energy. As such dates is a perfect choice as energy boosting Snack. Is low in fat, and also an excellent source of a dietary fiber. Being low in fat, dates is recommended to lower blood cholesterol and to reduce risks of heart disease as well as some type of cancer. It is sodium free, reducing risks of hypertension and heart disease. It is an important source of potassium, Iron, Calcium, Magnesium, Sulpher, Copper and Phosphorous. Its provides 250% more potassium by weight than bananas. Dates is an ideal food to maintain Body health and healthy system. Dates provide the natural sweetness preferred in variety of Products, from bakery foods to cereals, confections, preserves, Juices and drinks and many More. It is needed in a versatile ingredient. The bottom line is “Lion Dates makes your day Complete”.
SYRUP
Mythology has that Dates was given to mary for consumption, when she was expecting Jesus,Known for Its rejuvenating properties, this tradition of consuming dates during pregnancy and general health is followed till date. Dates is a part of the stable diet in the middle east and African regions, where they are mostly grown. Dates have natural sweetness and mild Distinctive flavour, which is satisfying when consume as a fruit and as an ingredient in many Dishes as formulations.
Properties of Dates
Apart from its great taste, its with nutrition making it one of the most single health foods available with almost 70% of its flesh constituted as sugar, In the form of easily digestible glucose, eating Dates is a quick source of high energy. As such dates is a perfect choice as energy boosting Snack. Is is low in fat, and also an excellent source of a dietary fiber. Being low in fat, dates is recommended to lower blood cholesterol and to reduce risks of heart disease as well as some type of cancer. It is sodium free, reducing risks of hypertension and heart disease. It is an Important source of potassium, Iron, Calcium, Magnesium, Sulpher, Copper and Phosphorous. Its provides 250% more potassium by weight than bananas. Dates is an ideal food to maintain Body health and healthy system. Dates provide the natural sweetness preferred in variety of Products, from bakery foods to cereals, confections, preserves, Juices and drinks and many More. It is needed in a versatile ingredient. The bottom line is “Lion Dates makes your day Complete”.
HONEY
The mixture of glucose and fructose produced by the in version is called
invert sugar and has been known in the form of honey for many countries.
The nectar of flowers from which bees make honey consists largely of sucrose,
during its passage through the bee's honey sac, and during further activity by
bees in the hive the sucrose in hydrolyzed by enzymes into glucose and fructose
and the product - Honey - consists of about 20 percent water and 76 percent
glucose and fructose. The balance is made up of a small amount of unconverted
sucrose, some other disaccharides and minor quantities of minerals, acids,
vitamins and flavour producing substances, for these reasons honey is not pure
invert sugar.
The very variable flavour of honey depends essentially on the flowers from
which the nectar was collected. Honey contains over 200 different substances,
but honey lovers are able to distinguish honey derived mainly from clover, for
example, from that originating from other flowers.
Although honey is now mainly eaten as a spread like jam, it has been used as a
sweetener since ancient time and it was the only sweetening agent used until
sucrose (sugar) become available. It was also used for making the alcoholic
drink made, which is a beer made by fermenting honey.
The nutritive and curative properties of honey are often grossly exaggerated.
Like other sugars, its function in the diet is solely to act a source of energy.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.96 |
|
UK Pound |
1 |
Rs.78.66 |
|
Euro |
1 |
Rs.63.31 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
NO |
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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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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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|