MIRA INFORM
REPORT
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Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ADANI GLOBAL FZE |
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Registered Office : |
Plot
No. MO226, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.10.1999 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Import and Distribution of general merchandise |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 2,000,000 |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : ADANI GLOBAL FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 1st October 1999
Trade Licence Number : 1947
Chamber Membership Number : 51852
Issued Capital : UAE Dh 18,000,000
Paid up Capital : UAE Dh 18,000,000
Total Workforce : 18
Activities : Import and distribution of general merchandise
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,000,000
Person Interviewed : Mehul Jani, Finance Manager
COMPANY NAME
ADANI GLOBAL FZE
company ADDRESS
Registered & Physical Address
Building : Plot
No. MO226
Street :
Area : Jebel Ali Free Zone
PO Box : 17186
Town :
Country :
Telephone : (971-4) 8818048
Facsimile : (971-4) 8818207
Email : adani@emirates.net.ae / adaniglb@emirates.net.ae
/ adaniglb@eim.ae / rpnair@eim.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone.
Branch
Offices
Location Description
·
Tel: (971-4) 3555484
Fax: (971-4) 3597801
KEY PRINCIPALS
Name Position
·
Rakesh
Madlal Shah Managing
Director
·
Rakesh
Shah Director
·
Pranav
Vora General
Manager
·
M Nair Administration
Manager
·
Mehul
Jani Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
October 1999
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1947
Chamber Member No. : 51852
Issued Capital : UAE Dh 18,000,000
Paid up Capital : UAE Dh 18,000,000
Name of Shareholder
(s) Percentage
·
Adani
Global Limited 100%
AFFILIATED COMPANIES
·
Adani
Exports Limited
Adani House
Navarangpura
Ahmedabad 380 009
Tel: (91-79) 26565555 / 25555555
Fax: (91-79) 26565500 / 26555500
·
Adani
Global Pte Ltd
·
Adani
Global Pte Ltd
·
Adani
Virginia Inc
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise, including scrap steel, coal, agro products, fertilizers, general
foodstuff products and textiles.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 18 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
688,000,000 UAE Dh
700,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Mehul Jani, Finance Manager
BANKERS
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax:
(971-4) 2284631
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1999,
subject is involved in the import and distribution of general merchandise,
including textiles, general foodstuff products and fertilizers.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.57 |
|
|
1 |
Rs.72.50 |
|
Euro |
1 |
Rs.62.46 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.