MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
MSA SALT PRIVATE LIMITED |
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Registered Office : |
28, |
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Country : |
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Date of Incorporation : |
05.06.2006 |
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Com. Reg. No.: |
60091 |
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CIN No.: [Company
Identification No.] |
U14220TN2006PTC060091 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Salt |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself. Company’s first
financials are awaited. No further details or payment could be made
available. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions only. |
INFORMATION PARTED BY
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Name : |
Mr.A.Sudhakar |
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Designation : |
Director |
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Contact No.: |
91-9843822822 |
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Date : |
20.11.2008 |
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LOCATIONS
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Registered Office : |
28, |
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Tel. No.:` |
91-461-4000542 / 642 / 232342 |
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Mobile No.: |
91-9443125342 |
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Fax No.: |
91-461-2390388/ 2321142 |
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Email: |
ttn-petermsa@sancharnet.in |
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Website : |
DIRECTORS
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Name : |
Mr. Peter A Jebaraj |
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Designation : |
Director |
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Address : |
20, |
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Date of Birth/Age : |
18.04.1954 |
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Email: |
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Partnership held in Partnership Firm: |
MSA Salt Manufacturer, 28, |
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Qualification: |
BSC |
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Name : |
Mr. A Samvictor Gnanamuthu |
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Designation : |
Director |
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Address : |
No. 20, |
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Date of Birth/Age : |
30.08.1952 |
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Partnership held in Partnership Firm: |
MSA Salt Manufacturer, 28, |
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Qualification: |
BSC |
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Name : |
Mr. A Sudhakar |
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Designation : |
Director |
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Address : |
No. 20, |
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Date of Birth/Age : |
02.08.1973 |
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Partnership held in Partnership Firm: |
MSA Salt Manufacturer, 28, |
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Qualification: |
BE |
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Name : |
Mr. S Lingaraj |
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Designation : |
Director |
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Address : |
163, |
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Date of Birth/Age : |
11.06.1956 |
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Partnership held in Partnership Firm: |
Sivalingam Salt Company, 170, |
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Qualification: |
Graduate |
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Name : |
Mr. K Lingaselvan |
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Designation : |
Director |
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Address : |
36, |
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Date of Birth/Age : |
04.03.1962 |
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Partnership held in Partnership Firm: |
Sivalingam Salt Company, 170, |
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Qualification: |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Salt |
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Customers : |
Retailers/ End Users |
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Products : |
·
Iodized
Free Flow Salt ·
Non-iodized
Salt ·
Ordinary
Powdered Salt ·
Table
Salt ·
Industrial
Salt ·
Deicing Salt, etc. |
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Exports : |
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Products : |
Salt |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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No. of Employees : |
Around 80 |
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Bankers : |
South Indian Bank, |
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Banking
Relations : |
-- |
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Auditors : |
Mr.Sheshan |
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Name : |
Chartered Accountants |
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Address : |
Muthumal Colony |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity shares |
Rs. 10/- each |
Rs, 2.500 millions |
Issued, Subscribed & Paid-up Capital : NA
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company.
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
Incepted in the year 1917 in
Their iodized salt is available in different quantities ranging from 500
gm to 1.5 kg. Through their integrated production structure, they can manufacture up
to 500 tons of iodized salt per month. This helps in meeting the immediate and
bulk requirements of their customers at any given point of time.
They also provide their customers with sampling facility wherein the
customers have the leverage of verifying the quality of the products before
they are finally dispatched. Their unit is also supported by well maintained
storage facility that can stock the products in bulk.
They have positioned their selves as one of the trusted manufacturers of
iodized salt to meet the growing demands. Their iodized salt is salt fortified
with appropriate iodine levels. Their range of product:
·
Free
Flow Idoized Salt
·
Iodized
Refined Salt
·
Rock
Salt
·
Flavored
Salt
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Snowflake
Salt
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Granulated
Salt
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Industrial
Salt
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Edible
Salt
Benefits of Iodized Salt
Regular intake of iodized salt prevents various abnormalities in
children, newborn babies, pregnant women etc. Devoid of proper quantities of
iodine in their daily diets can result in:
• Retarded growth
• Low IQ level
• Deaf and Mute
• Enlargement of thyroid gland
• Miscarriage
Iodine is an essential nutrient that helps in regulating body temperature.
Their iodized salt contains the required amount of iodine and is apt for
consumption by humans.
Infrastructure
Their company incorporates latest production methods to manufacture
their edible salt products. After going through the initial stages of drying of
sea water it is brought into their state-of-art production unit where it is
cleaned for impurities, changed to granulated form and hygienically packaged
for delivering. They devise cost effective production methods that result in
high quality iodized salt being made available at industry leading prices.
Their constant endeavors ensure that their production unit is regularly updated
with modern machine that help in faster production.
Team and R & D
Apart from a world class infrastructure, they are also backed by an
efficient and dedicated team of industry experts who have years of experience
in the salt industry. Their team comprises of quality inspectors, scientists,
researchers and workers who carry out the processing work with the aid of
modern machine. Their workers are trained to carry out the process maintaining
highest levels of hygiene.
Their research and development department is engaged in conducting intense
research work that ensures in-depth understanding of the market trends. They
are equipped with all the required research tools that facilitate testing of
products and studying the salt product.
Quality
Their unwavering commitment towards maintaining quality in their iodized
salt has raised them on a higher pedestal than their competitors. With a team
of quality inspectors, they ensure that their product goes through hygienic and
high grade-production. They make continuous efforts to keep up to various
international quality standards by manufacturing premium quality iodized salt.
Their inspectors keep a strict eye on the entire process of manufacturing and
packaging to ensure flawless and hygienic products. They pack the iodized salt
in moisture proof packs to avoid sogging so that freshness is maintained
whenever the pack is opened. The raw material and the finished product are
tested at their testing unit to ensure only the best reach their customers.
Customer Satisfaction
Their company aims towards achieving total customer satisfaction. They
have the expertise to supply their products in any quality within the
stipulated time frame. This has resulted in satisfied clientèle that keeps
coming back to us for all their salt requirements. Their management devices
customer centric approach that ensures a satisfied clientèle.
Warehousing Facility
They have a capacious warehouse that can store bulk requirements of their
clients. Their products are kept in a controlled atmosphere that is free from
moisture and extreme temperatures so that the products are in best condition
till they are delivered. They regularly fumigate their store house to keep it
in hygienic condition and restrict the entry of rodents, insects etc. Their
streamlined warehouse ensures faster delivery.
Packaging and
Delivery:
Their iodized salt is hygienically packaged to prevent contamination and
moisture from entering. They use special freshness seal packs that are vacuum
sealed. These are further kept in wooden cartons, pellets etc as per the
customers requirements and the distance to be covered. They have tie ups with
leading CandF and logistics companies who are known for their speedy delivery. This
makes sure that the products reach the destinations within the set time frame.
Patronage
The towering growth of their company is the result of their tedious
efforts to maintain highest standards of quality. This has resulted in a vast
clientèle spread across the globe. The major markets where their products are
exported include the following:
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• UAE
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Why Them ?
• Economical prices
• Hygienically packaged
• Wide distributor networking
• Capacious warehouse
• On time delivery
Catering to the salt requirements of the world with iodized free flow salt, non-iodized salt, ordinary powdered salt, table salt, industrial salt, deicing salt, etc. since 1987...
Overview
Salt has been a part and parcel of food since time immemorial. Sodium
and chlorine constitute as the two main components of salt, which is necessary
for the survival of all living creatures, including human beings. Continuing
the tradition of catering to the worldwide demand for salt like many other companies,
The Company has developed its core competence as a manufacturer and exporter
of salts.
Established
in the year 1987, their main objective has been to produce and supply only
quality salts for both household and industrial use and offer them at the best
prices. Their range of high quality salts includes iodized free flow
salt, non-iodized salt, ordinary powdered salt, table salt, industrial
salt, deicing salt, etc.
Backed by vast experience and comprehensive knowledge of the industry, they
have been able to cater to the exact requirements of the market. With total
focus on quality, competitive prices and timely delivery, they have created a
huge market base, boosted by 60% exports. The list of their clients has been
increasing everyday with repeat orders from the already existing clients. This
it speaks volume about their standing in the market.
Products
Over the years, their sincere efforts and dedication have helped them
carve a leading position in the domestic as well as global market. At the company.
Customer satisfaction is given the topmost priority, which has enabled them in
winning the trust and support of an unending list of customers spread across
the globe. They are a manufacturer and exporter of the following range of
salts:
·
Iodized Free
Flow Salt
·
Non-iodized
Salt
·
Ordinary
Powdered Salt
·
Table
Salt
·
Industrial
Salt
·
Deicing
Salt, etc.
Quality
Being a quality driven company, high quality is maintained at every stage
of the manufacturing process at the company. A team of quality experts monitors
the complete operation, ensuring that the range of salts for human consumption
contains the prescribed level of iodine. The manufacturing is carried out in
adherence to national and international standards. Their quality control
supervisors conduct stringent checks on the procured raw material to ensure
that they meet their high quality standards. Quality packaging is given utmost
importance so that the salt retains its moisture and freshness till it is
consumed.
Infrastructure
Their state-of-the-art facilities, backed by the latest technology and a
team of qualified professionals enable them to cater to any bulk demand of the
market. Their modern production techniques facilitate quality refining of
salts, retaining their nutritive value. They upgrade their machinery as per the
latest trends so as to keep abreast in the competitive market. Their adequate
storage facilities are one of their competitive advantages.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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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12 |
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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