MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREEN PALM COMPANY |
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Registered Office : |
145/55, Union Mill Road, Tirupur-641601, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1930 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Growers, Traders
and Exporters of well grown-up coconut trees, readily bearing fruits. |
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 80000 |
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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 an old established concern having satisfactory track. Trade
relations are fair. Payment are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Dr. Nasar Ali |
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Designation : |
Sole Proprietor |
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Contact No.: |
91-9443208101 |
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Date : |
25.02.2008 |
LOCATIONS
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Registered Office/ Factory : |
145/55, Union Mill Road, Tirupur-641601, Tamilnadu, India |
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Tel. No.: |
91-4320-2409060 |
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Mobile No.: |
91-9443208101 |
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Fax No.: |
91-4320-2414550 |
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E-Mail : |
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Website : |
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Area : |
600 sq. ft. |
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Location : |
Owned |
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Branch Office : |
413, Sivasakthi Towers, 1st Floor, Palghat Main Road,
Kuniyamuthur, Coimbatore, Tamilnadu, India |
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Tel. No.: |
91-422-2252738 |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Overseas Office : |
Dubai Off No.302, Flat No.167, Murar-Al-Qadeem Building, Opposite Hayath
Regency, Dubai, UAE |
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Tel. No.: |
04-2723338 |
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Mobile No.: |
050-2964516 |
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Fax No.: |
04-2735255 |
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E-Mail : |
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Area : |
400 sq. ft. |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Dr. Nasar Ali |
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Designation : |
Sole Proprietor |
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Address : |
145/55, Union Mill Road, Tirupur-641601, Tamilnadu, India |
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Age : |
43 Years |
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Qualification : |
B. Sc. (Agriculture) |
BUSINESS DETAILS
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Line of Business : |
Growers, Traders
and Exporters of well grown-up coconut trees, readily bearing fruits. |
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Products : |
*
Coconut Trees *
Readily Bearing Fruits |
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Exports : |
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Products : |
All Products |
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Countries : |
US, Europe,
Middle East, Far East |
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Terms : |
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Selling : |
On T/T and L/C
basis |
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Purchasing : |
On Cash basis |
GENERAL
INFORMATION
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No. of Employees : |
Around 30 |
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Bankers : |
* State Bank of
India, Tirupur, Tamilnadu, India * Union Bank of
India, Tirupur, Tamilnadu, India * Axis Bank, Karur
Branch, Tamilnadu, India * ICICI Bank
Limited, Karur Branch, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
v Greenplus
Exports v Growell
Nurseries v India Coconut
Farm and Nursery v Agro
International |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs.20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2004 |
31.03.2006 |
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Sales Turnover |
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80.000 |
50.000 |
Expected Sales (2007-08) : Rs. + 100.000 millions (Approximately)
LOCAL AGENCY
FURTHER INFORMATION
They are one of the growers and exporters of all kinds of Palm trees,
ranging from 3 meters to 10 meters trunk trees, all kinds of palm seeds, avenue
trees, Moringa seeds, cut flowers etc. they are one of the nurseries in India
with 70 year service in Agri-Horticulture. They produce and export new and
developed coconut trees aged 2 years to 10 years. These are grown exclusively
for export in coco peat and are meant for replantation. They also deal in flowering
plants, indoor plants and other fruit trees for garden plantation.
They are engaged in the following activities:
v
Growers and exporters of well grown-up
coconut trees, readily bearing fruits.
v
All kinds of palm trees ranging from 3 mt
upto 8 mt trunk
v
All kinds of indoor and out door, ornamental
fruit plants grown in peat moss exclusively for exports
v
All kinds of palm seeds and avenue seeds,
fruit flowering seeds etc.
v
All kinds of cut flowers
v
All kinds of organic fertilizers.
v
Manufacturers of compressed cocopeat blocks
v
They grow Phenix canarensis, Sysvestris
Palms, Washington Palm for export
v They have developed a special natural earthworm manure called the
Vermicultured manure
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.91 |
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UK Pound |
1 |
Rs.78.44 |
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Euro |
1 |
Rs.59.13 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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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47 |
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/normal. |
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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