MIRA
INFORM REPORT
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Report Date : |
26.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIVYAGANGA ENTERPRISES |
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Registered Office : |
38, Ganapathy Street, Avvai Nagar, Chennai, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Distributors for Medicine and equipment used in blood tests, laboratory,
equipments and prosthetic parts used in orthopedic surgeries. |
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 40000 |
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Status : |
Satisfactory |
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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 concern meeting its normal
commitments timeously. Trade relations are fair. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. N. Mohan |
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Designation : |
Proprietor |
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Contact No.: |
{telephone / mobile no.} |
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Date : |
26.05.2008 |
LOCATIONS
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Registered Office : |
Plot no. 38, Ganapathy 2nd Street, Avvai Nagar,
Tiruvanmiyur, Chennai 600041 |
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Tel. No.: |
91-44-24481326 |
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Mobile No.: |
91-944360033 |
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Fax No.: |
91-44-24488453 |
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E-Mail : |
Dhivya_9@yahoo.co.in |
SOLE PROPRIETOR
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Name : |
Mr. N. Mohan |
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Designation : |
Proprietor |
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Qualification : |
Bsc PGDHHA |
BUSINESS DETAILS
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Line of Business : |
Distributors for Medicine and equipment used in blood tests,
laboratory, equipments and prosthetic parts used in orthopedic surgeries. |
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Imports : |
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Countries : |
UK and USA |
GENERAL
INFORMATION
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No. of Employees : |
6 |
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Bankers : |
State Bank of Mysore, Tiruvanmiyur Branch, Chennai - 600041 |
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Banking
Relations : |
Satisfactory |
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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31.03.2007 |
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Sales Turnover |
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30.000 |
LOCAL AGENCY
FURTHER INFORMATION
Profile:-
This is a proprietorship firm started in 1993 by Mr. N. Mohan. Mr. Mohan
has qorked in various big hospitals including Tamilnadu Hospitals for two
decades. He holds a Post graduate diploma in Hospital Management and is well
versed with hospital inventory and supplies. After retiring he has started his
own business. They are Distributors for the following companies.
v
Roche Diagonistics India Private Limited
v
Smith and Nephew Healthcare Private Limited
v
Transasia Bio Medicals Limited
They do direct supplies to the hospital
against specific orders. They deal in medical accessories, orthotics,
prosthetic parts used in orthopedic surgeries and medicines. Thay have the
office in th first floor of the address below mentioned. The ground floor is
the residence of the proprietor and the first floor has about 5 rooms and is
the office. The office includes a cold room that keeps the temperature between
2-8 degree centigrade. There were three people working when I visited them.
There are other field persons who do the sales job and delivery boys as these
products have to be delivered 24 X 7.
There is no way to assess the financial
strength of this firm. However all transactions they say cash on delivery. One
of their bankers are State Bank of Mysore, Tiruvanmiyur. They do only imports
of medical and surgical products and no exports.
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.42.84 |
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UK Pound |
1 |
Rs.84.78 |
|
Euro |
1 |
Rs.67.32 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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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45 |
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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