MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PREMIER ENTERPRISES |
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Registered Office : |
S F No. 39/2, South Street Sankarapandiapuram Chatrapatti, Rajapalayam
– 626102. Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1981 |
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PAN No.: [Permanent
Account No.] |
AABFP1482E |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers, Exporters and
suppliers of medical gauze and hygiene care 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 : |
USD 50000 |
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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. The
concern is doing well. It’s trade relations are fair. Payments are usually correct
and as per commitments. It can be considered good for normal business
dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Murga Mani |
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Designation : |
Executive |
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Date : |
28.07.2008 |
LOCATIONS
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Registered Office/Factory : |
S F No. 39/2, South Street Sankarapandiapuram Chatrapatti, Rajapalayam
– 626102. Tamilnadu, India |
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Tel. No.: |
91-4563-257552 |
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Mobile No.: |
91-9790099304 |
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Fax No.: |
91-4563-257432 |
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E-Mail : |
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Website : |
www.premierdazeglobal.com |
PARTNERS
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Name : |
Mr. Rajendramani |
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Designation : |
Partner |
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Name : |
Mrs. R. Raja Papathi |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters and
suppliers of medical gauze and hygiene care products |
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Products : |
v Lap Sponge With
X-ray With Loop v Underpad |
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Exports : |
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Products : |
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Countries : |
Austria, Australia, Argentina, Belgium, Bulgaria, Brazil, China, Canada
Croatia, Czech, Republic, Egypt, France, Germany, Hungary, Holland, Italy,
Jordan, Lebanon, Mexico, Poland, Portugal, Romania, Spain, Slovenia, South
Africa, Tunis, Thailand, United States, United Kingdom, Yemen and Venezuela. |
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Imports : |
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Products : |
Machinery Technical knowhow Joint Ventures |
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Countries : |
Sweden, Italy, France, Austria, Germany, Japan and Czech Republic. |
GENERAL
INFORMATION
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No. of Employees : |
250 |
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Bankers : |
Canara Bank, Rajapalayam – 626102, Tamilnadu, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 10.000 Millions |
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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385.100 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
Premier Enterprises |
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Address |
S F No. 39/2, South Street Sankarapandiapuram
Chatrapatti, Rajapalayam – 626102. Tamilnadu, India |
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Phone/ Mobile Numbers |
91-4563-257552 |
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Fax Numbers |
91-4563-257432 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AABFP1482E |
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VAT/ TIN Registration |
33226061646 |
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Import Export Code |
2888000946 |
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Name of Bank |
Canara Bank |
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Current Account Number |
2007 |
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Credibility Factors |
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Years of Establishment |
Since 1981 |
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Trade Affiliations |
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SSI Registration |
No |
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Export Promotion Council |
Yes |
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Chambers of Commerce Membership |
Yes |
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D&B D-U-N-S Number |
No |
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Govt. Recognised Export House Status |
Yes |
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Other Affiliations |
Texprocil Fieco Indo- Germany, Belgium Polish Chamber of Commerce The council of EU chambers of Commerce in India. |
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Standards & Certifications |
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Quality Management Systems |
ISO 9001 : 2000 and ISO 13485 : 2003 and ISO 14001 : 2004 |
Profile:-
Subject is engaged in the production, export and supply of medical gauze and
hygiene care products. The concern was incorporated in the year 1981 by Mr. A.
Rajendramani The firm has achieved the
export status of being a TWO STAR EXPORT HOUSE by Indian government.
Started with a weaving unit of 6 weaving machines and a bleaching plant, the
concern has grown by leaps and bounds. Today They have own spinning mill and
are counted among the leaders in medical dressing products. With Their wide
experience and ideologies they have attained the position of global supplier of
industrial fabrics and medical gauze to meet the requirements of the medical
fraternity.
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.42.54 |
|
UK Pound |
1 |
Rs.84.86 |
|
Euro |
1 |
Rs.66.95 |
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 |
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 |
|
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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