MIRA
INFORM REPORT
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Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
VINMAR INTERNATIONAL, LTD |
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Registered Office : |
16800 Imperial Valley Dr # 499, Houston, TX 77060-3159 |
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Country : |
United States |
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Date of Incorporation : |
08.04.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesaler of Plastic Materials, Shapes and Chemicals Products |
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 : |
EUR 1,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
1,500,000 EUR |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
100 USD = 64 EUR Satisfying |
IDENTIFICATION
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Company Name : |
VINMAR
INTERNATIONAL, LTD |
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Address : |
16800 Imperial
Valley Dr # 499, Houston, TX
77060-3159, United
States |
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Phone : Facsimile : ID : State: Manager : |
+1
(281) 618-1300 +1 (281) 618-1398 0012192006 Texas Hemant
Goradia, President. |
Date founded : |
April 8, 1998 Limited
liability company N.A. 150 Employees |
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Legal form : |
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Stock : |
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Staff : |
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Business : |
Wholesaler of plastic Materials, shapes and chemicals products |
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BANK
- WELLS FARGO
- AMRO BANK
- FIRST INTERSTATE BANK OF TEXAS
BUSINESS
Business & Operations:
Founded in
New York 1978, Vinmar has grown to be a leader in global marketing, distribution
and project development in the chemicals and plastics industries.
In 1985
Vinmar moved its headquarters to Houston, Texas and today operates in a network
of dozens of local sales and procurement offices. The Company obtained a
certificate of authority to do business in Texas, on April 8, 1998.
These offices and staff are located in the world’s most active markets.
Business overview:
About 10,000 companies produce chemicals in the US, with combined annual revenues of $500 billion. Although large companies like Dow and DuPont produce hundreds of chemicals, most companies specialize in one or two product lines. The typical chemical company has annual revenue under $10 million. While the industry as a whole is fragmented, the concentration in many segments is very high: just a handful of manufacturers hold 80 percent or more of the segment. Demand is driven by the health of the US economy because chemicals are used to make a wide variety of industrial and consumer products. The profitability of individual companies is closely tied to efficient operations. Big companies have large economies of scale in production. Small companies can compete effectively by producing specialty products, of which there are a large number, or by operating a single plant highly efficiently. The industry is highly automated: average annual revenue per employee is over $500,000.
SHAREHOLDERS – SUBSIDIARIES –
MANAGERS
The
directors of the company are:
Hemant Goradia,
President,
Vitay Goradia, Vice
President,
Jain
Swatantra, Secretary.
They
are also the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Vinmar International, ltd. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
66,000,000 |
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Operating profit |
5,300,000 |
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Net income |
4,100,000 |
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Liabilities |
7,000,000 |
There is no legal filling listed with the District Court.
There are 13 active UCC files listed with the Secretary of State of
Texas in favor of banks and financial institutions.
RATING
Local credit bureau gave a good credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
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The cash flow is good.
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Payments are made on a 43 days basis.
Our final opinion:
This is a medium company
working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Sufficient Controlled Good |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
1,500,000 EUR
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.95 |
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UK Pound |
1 |
Rs.85.62 |
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Euro |
1 |
Rs.67.81 |
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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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%)