1. Summary Information
|
|
|
Country |
|
|
Company Name |
|
Principal Name 1 |
Mr. Rangaswami Durairaj |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Latha Shekar |
|
|
|
Registration # |
-- |
|
Street Address |
120, 1st Floor, Hoodi Apartments, |
||
|
Established Date |
1989 |
SIC Code |
-- |
|
Telephone# |
91-80-22250857/
22203028 / 32982857 |
Business Style 1 |
Trader |
|
Fax # |
91-80-22203219 |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Excavator |
|
|
# of employees |
32 (Approximately) |
Product Name 2 |
Loaders |
|
Paid up capital |
Not
Divulged |
Product Name 3 |
Dozers |
|
Shareholders |
-- |
Banking |
Indian
Overseas Bank |
|
Public Limited Corp. |
NO |
Business Period |
22 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Group
Company |
|
Gem Sugars Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
48,500,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
50,000,000 |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
120, 1st Floor, Hoodi Apartments, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Year of Establishment : |
1989 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Trader and Importer earth moving equipments |
|
|
|
|
No. of Employees
: |
32 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
|
|
Maximum Credit Limit : |
-- |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Krishnan |
|
Designation : |
Account Executive |
|
Date : |
24.08.2011 |
LOCATIONS
|
Registered Office/ Head Office : |
120, 1st Floor, Hoodi Apartments, |
|
Tel. No.: |
91-80-22250857/ 22203028 / 32982857 |
|
Mobile No.: |
91-9341218191 (Mr. R Durairaj) |
|
Fax No.: |
91-80-22203219 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at v Salem, Tamil Nadu, India v Hospet Billary,
v Ilkal – Bangalkot, Karnataka |
PARTNERS
|
Name : |
Mr. Rangaswami Durairaj |
|
Designation : |
Partner |
|
Date of Birth/ Age: |
58 Years |
|
Qualification: |
Graduate |
|
|
|
|
Name : |
Mrs. Latha Shekar |
|
Designation : |
Partner |
|
Date of Birth/ Age: |
46 Years |
|
Qualification: |
Graduate |
KEY EXECUTIVES
|
Name : |
|
|
Designation : |
Administration Manager |
|
|
|
|
Name : |
Mr. Rajan |
|
Designation : |
Marketing Manager |
|
|
|
|
Name : |
Mr. Dhasrathan |
|
Designation : |
Purchasing Manager |
|
|
|
|
Name : |
Mr. Krishnan |
|
Designation : |
Account Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer earth moving equipments |
|
|
|
|
Products : |
v Excavators v Loaders v Dozers v Dumpers v Engines |
|
|
|
|
Imports : |
|
|
Countries : |
· Singapore · Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Import – 90 days Credit |
|
|
|
|
Purchasing : |
Local – 60 days Credit |
GENERAL INFORMATION
|
Suppliers : |
v v Komatsu v Volvo v Daewoo v Cat v Poclain v JCB |
|
|
|
|
Customers : |
v Alpha
Enterprises, v Minining
Machines and Spares, v MSP Earth
Mover, |
|
|
|
|
No. of Employees : |
32 (Approximately) |
|
|
|
|
Bankers : |
Indian Overseas Bank, City Branch, |
|
|
|
|
Facilities : |
Cash Credit Rs. 2.500 Millions |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K Chandrahasa Chartered Accountants |
|
Address : |
Prakash Nagar, |
|
|
|
|
Group Company : |
v GEM Group v GEM Granites, v Kabini Mineras
Private Limited, v Gem Sugars
Limited, |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
48.500 |
50.000 |
60.000 |
|
|
Due to less
order sales turnover is low |
|
|
The above information has been parted by Mr. Krishnan.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
14.429 |
13.570 |
13.011 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14.429 |
13.570 |
13.011 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.249 |
8.287 |
8.770 |
|
|
2] Unsecured Loans |
0.671 |
0.550 |
0.650 |
|
|
TOTAL BORROWING |
10.920 |
8.837 |
9.420 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.349 |
22.407 |
22.431 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.701 |
8.437 |
8.938 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
Miscellaneous Deposits and advance |
0.552 |
0.529 |
0.494 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.251 |
5.870 |
3.423 |
|
|
Sundry Debtors |
15.075 |
14.672 |
18.893 |
|
|
Cash & Bank Balances |
0.552 |
0.676 |
0.572 |
|
|
Other Current Assets |
0.509 |
0.583 |
0.437 |
|
|
Loans & Advances |
0.438 |
0.371 |
0.190 |
|
Total
Current Assets |
25.825 |
22.172 |
23.515 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
10.209 |
8.172 |
9.898 |
|
|
Provisions |
0.520 |
0.559 |
0.618 |
|
Total
Current Liabilities |
10.729 |
8.731 |
10.516 |
|
|
Net Current Assets |
15.096 |
13.441 |
12.999 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.349 |
22.407 |
22.431 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
33.480 |
24.585 |
27.901 |
|
|
|
Other Income |
4.717 |
5.871 |
6.944 |
|
|
|
TOTAL (A) |
38.197 |
30.456 |
34.845 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
6.501 |
6.072 |
6.449 |
|
|
|
Consumption of stores and spares parts |
1.377 |
2.133 |
0.127 |
|
|
|
Other Expenditure |
26.317 |
19.025 |
24.710 |
|
|
|
TOTAL (B) |
34.195 |
27.230 |
31.286 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.002 |
3.226 |
3.559 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.101 |
1.143 |
1.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.901 |
2.083 |
2.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.682 |
0.562 |
1.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.219 |
1.521 |
1.380 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.234 |
0.957 |
0.514 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.985 |
0.564 |
0.866 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.57 |
1.85 |
2.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.80 |
4.99 |
3.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.24 |
4.96 |
4.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.11 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.50 |
1.29 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.40 |
2.53 |
2.23 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
MSP Earth Mover, Bangalore
AS PER WEBSITE
Profile
Subject, popularly known as DTC, is located since 1990 at
Subject provides pre-tested quality replacement parts for
a wide range of earthmoving, mining and construction equipment. Most parts are
available ex-stock at very competitive prices. An extensive communication
network and dedicated customer service orientation ensure prompt and
quality-assured spares for Excavators, Loaders, Dozers, Cranes, Dumpers,
Graders, Pavers, Surface Miner and Diesel Engines. Every popular model from
Replacement parts for all sub assemblies including consumables are sourced
worldwide and reached to customers in the shortest possible time. Computerized
inventory tracking and management, dedicated communication channels, a fleet of
transport vehicles and on-field engineering support personnel reach required
spares along with relevant technical and application guidance to the user,
often at site, in incredibly short delivery periods.
Subject reaches the southern states of Karnataka, Tamil
Nadu, Goa and Andhra Pradesh in
Subject brings to India as Authorized Distributor,
Filtration system from Donaldson-USA,
Rhino brand Rock Breaker and Attachments from Hanwoo-Korea, Hydraulic Components from JIC-Korea, Diesel Engine parts from KMP-UK, and many more reputed manufactures from all over the
world.
Subject also deals
with under carriage components for Excavators
and Dozers manufactured by Reputed companies like ITM
from Italy R -Brand from
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.76 |
|
|
1 |
Rs.75.57 |
|
Euro |
1 |
Rs.65.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.