MIRA
INFORM REPORT
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Report Date : |
11.10.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
L.T. OVERSEAS LTD |
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Registered Office : |
1059 King George Post Road, Edison, NJ 08837 |
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Country : |
United States |
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Date of Incorporation : |
24.05. 1994 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales
Groceries, Manufactures Food 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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
ADVISED CREDIT
100,000 USD
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 |
USD Satisfying |
IDENTIFICATION
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Company Name: |
L.T.
Overseas Ltd. Dba Daawat Foods International |
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Address: |
1059 King George Post Road, Edison, NJ 08837, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (732) 661-1030 + 1 (732) 661-1034 0100589292 New Jersey Sandip
Patel, Chairman |
Date founded: |
May 24, 1994
Corporation for Profit N.A. N.A. 12 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales
groceries, manufactures food products. |
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BANKS
Bank Leumi
BUSINESS
Business & Operations:
Heritage Select® offers genuine Basmati Rice from Northern India.
The company focuses on Basmati Rice mixes with meat, poultry, and fish
and they’re excellent …
The company is heavily working with India.
Industry Overview:
The US wholesale food distribution industry includes about 38,000
companies with combined annual revenue of around $550 billion. Major companies
include SYSCO, US Foodservice, SUPERVALU, and McLane Company. The industry is
moderately concentrated: the 50 largest distributors hold about 50 percent of
the total market.
This industry doesn't include revenue from retail or manufacturing
operations.
Demand is driven largely by demographic shifts, particularly trends in
population and age, working women, race and ethnicity, household size, and
levels of disposable income. The profitability of individual companies depends
on a good product mix and efficient operations. Large distributors are advantaged
by bulk purchasing and economies of scale in distribution. Smaller companies
can compete effectively by specializing in organic, natural, or kosher products
or focusing on a geographical area. Average annual revenue per worker for a
typical company is $675,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The principal chairman we
found related to the company is:
Sandip Patel, Chairman.
We called the company to
obtain a detailed list of the directors but the person interviewed refuse to
release any information.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company, L.T.
Overseas Ltd. does not publish any financials.
However our source provide us with the following information :
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Fiscal Year USD |
12/31/2007 |
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Turnover
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3,200,000 |
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Operating
Profit |
438,000 |
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Net
Income |
379,000 |
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Net
Worth |
600,000 |
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Liabilities |
160,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2007 by
Bank Leumi USA securing Inventory. Amount: NA
RATING
Local credit bureau gave a
good credit rate.
The Company is in “good
standing”.
This means only that all
local and federal taxes were paid on due date.
Payments are made on a 40
days basis.
Cash is good.
Our final opinion:
This is a small business
working worldwide.
A credit line may be
considered.
A business connection may
be conducted.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Good Controlled Good |
PUBLIC PAYMENTS |
No Regular |
ADVISED
CREDIT
100,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)