MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GURU TRADING AND SOURCING SERVICES |
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Registered Office : |
17/4, AVP Layout, 3rd Street, Padmavathi Puram, Gandhi Nagar,
Tirupur – 641603, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2008 |
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PAN No.: [Permanent
Account No.] |
AAHPG8188N |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter, Supplier and Wholesaler of various products
including agricultural, dairy, poultry, garments, textiles, fabrics, oil and
granite. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 25000 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and yet to establish track. No payments
records are known. Initially, it should be considered for small business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ismail |
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Designation : |
Assistant |
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Date : |
19.07.2008 |
LOCATIONS
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Registered Office/Factory : |
17/4, AVP Layout, 3rd Street, Padmavathi Puram, Gandhi
Nagar, Tirupur – 641603, Tamilnadu, India |
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Tel. No.: |
91-421-2472914 |
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Mobile No.: |
91-9443354915 |
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Fax No.: |
91-421-2477209 |
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E-Mail : |
md@gtoverseas.com |
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Website : |
www.gtoverseas.com |
SOLE PROPRIETOR
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Name : |
Mr. G. Lingaswaran |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Exporter, Supplier and Wholesaler of various products including
agricultural, dairy, poultry, garments, textiles, fabrics, oil and granite. |
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Products : |
v
Category of Agricultural products includes Coconuts,
Banana, Onions, Garlic, Peanuts, Mangoes, tobacco papaya, pepper, turmeric, corns
and cashew nuts. v The
Home textile and fabrics range encompasses cotton bales, cotton seeds, cotton
seeds cake (used for cattle feed) home textiles, 100% cotton grey fabrics and
100% cotton yarn. v Apparels
collection offers T-shirts – printed, embroidered for men, women and kids
Polo shirts Woven shirts and Denim pants. v The
Dairy products include Milk powder and Butter. v Coir
Products category has White and Brown Fibre, Coir Pith, and Coconut Husk. v They
offer eggs in their Poultry Product category. v Their
other products are Neem oil Eucalyptus oil, Handicrafts and Granites. |
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Exports : |
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Countries : |
USA, UK (Tesco), France and Poland |
GENERAL
INFORMATION
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No. of Employees : |
30 |
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Bankers : |
Canara Bank, Tirupur - 641603, Tamilnadu, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Expected Sales (2008:09)- Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence
Verification |
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Name |
Guru Trading And Sourcing Services |
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Address |
17/4, AVP Layout, 3rd Street, Padmavathi
Puram, Gandhi Nagar, Tirupur – 641603, Tamilnadu, India |
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Phone/ Mobile Numbers |
91-421-2472914 |
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Fax Numbers |
91-421-2477209 |
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Statutory
Approvals |
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Legal Status of Firm |
Proprietorship |
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Income Tax Registration |
AAHPG8188N |
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Central Sales Tax Registration |
972377 |
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VAT/ TIN Registration |
33332308510 |
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Import Export Code |
320800525555 |
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Name of Bank |
Canara Bank, Tirupur - 641603, Tamilnadu,
India |
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Credibility
Factors |
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Years of Establishment |
2008 |
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Trade
Affilations |
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SSI Registration |
Yes |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
No |
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D and B D-U-N-S Number |
No |
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Government Recognised Export House Status |
No |
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Other Affilations |
No |
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Standards
and Certifications |
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Quality Management Systems |
In house quality programs |
Profile:-
Established in the year 2008, subject has been a
distinguished exporter, supplier and wholesaler of various products including agricultural,
dairy, poultry, garments, textiles, fabrics, oil and granite. They have an
extensive vendor network which enables them to efficiently source their
products and supply them all over the country and to various clients worldwide.
The global reach of their products extends to countries such as USA, TESCO
(UK), France and Poland where their garments are much in demand. They have also
attained membership from TIN and CST.
Some of the raw materials and agricultural products are sourced from their own
cultivation which is carried out on their farms spread over a vast area of 45
acres. The four textiles and garment producing units owned by them provide them
with the fabrics and garments stocked by them. Their primary branch is situated
at Tirupur from where their procurement and dispatch is managed.
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.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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26 |
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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