MIRA
INFORM REPORT
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Report Date : |
13.07.2011 |
IDENTIFICATION DETAILS
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Name : |
OCEANIC EDIBLES INTERNATIONAL LIMITED |
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Formerly Known As : |
OCEANIC SHRIMPING LIMITED |
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Registered Office : |
No. 29, Zackaria Colony, |
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Country : |
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Financials (as on) : |
31.03.2011 (Provisional) |
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Date of Incorporation : |
24.11.1994 |
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Com. Reg. No.: |
18-029335 |
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Paid-up Capital : |
Rs. 362.599 Millions |
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CIN No.: [Company
Identification No.] |
U05001TN1994PLC029335 |
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IEC No.: |
0495018368 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEO02026D |
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PAN No.: [Permanent
Account No.] |
AAAC03678G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Hatchery, Farming, Processing of Fruits
and Vegetables and Marine Products Thro Individual Quick Frozen and Blast
Freezing and Plate Freezing |
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No. of Employees : |
250( 50 – In Office + 200 – In Factory) [approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (35) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1700000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having moderate track. The
company is progressing well. Trade relations are reported as fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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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 |
INFORMATION PARTED BY
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Name : |
S. Ramesh Narayanan |
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Designation : |
Chief Finance Officer |
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Contact No.: |
91-9840842055 |
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Date : |
13.07.2011 |
LOCATIONS
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Registered Office : |
No. 29, Zackaria Colony, |
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Tel. No.: |
91-44-30241900/ 23740864 |
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Fax No.: |
91-44-30241990 |
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E-Mail : |
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Website : |
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Area : |
4500 sq.ft. |
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Location : |
Owned |
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Corporate Office : |
No. 6, First Floor, Wellington Estate, 53, Ethiraj
Salai, Egmore,
Chennai-600008, Tamilnadu, India |
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Tel. No.: |
91-44-30241900 |
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Fax No.: |
91-44-30241990 |
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E-Mail : |
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Area : |
9000 sq.ft |
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Location : |
Rented |
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Factory 1 : |
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Tel. No.: |
91-4147-239621 |
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Fax No.: |
91-4147-239622 |
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Area : |
165000 Sq.ft |
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Location : |
Owned |
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Factory 2 : |
Survey No. 272/1B, (Chittoor to Putur high way) Annuru Kas bagayath, |
DIRECTORS
As on 30.09.2006
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Name : |
Mr. A Raj Joseph |
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Designation : |
Managing Director |
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Address : |
No. 29, Zackaria Colony, |
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Date of Birth/Age : |
01.06.1963 |
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Qualification : |
M.B.A |
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Experience : |
15 Years |
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Date of Appointment : |
24.11.1994 |
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Name : |
Mrs. Vimla Joseph |
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Designation : |
Whole Time Director |
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Address : |
No. 29, Zackaria Colony, |
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Date of Birth/Age : |
01.12.1970 |
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Qualification : |
M.Sc,M. Phill |
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Experience : |
10 Years |
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Date of Appointment : |
24.11.1994 |
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Name : |
Mr. A James Walter |
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Designation : |
Director |
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Address : |
No. 29, Zackaria Colony, |
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Date of Birth/Age : |
26.07.1965 |
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Qualification : |
B.E. Computer Science |
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Experience : |
9 Years |
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Date of Appointment : |
09.06.1999 |
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Name : |
Mr. A Dominic Savio |
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Designation : |
Director |
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Address : |
No. 29, Zackaria Colony, |
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Date of Birth/Age : |
28.07.1968 |
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Qualification : |
B.E, M.S. Computer Science |
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Experience : |
9 Years |
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Date of Appointment : |
09.06.1999 |
KEY EXECUTIVES
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Name : |
Mr. Dana Sekaran |
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Designation : |
Deputy Manager in Accountant |
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Name : |
Mr. S Ramesh Narayanan |
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Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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A Joseb Raj |
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9018200 |
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Vimalal Joseb |
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4577200 |
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James Walter |
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7517000 |
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Dominic Savio |
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2104300 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hatchery, Farming, Processing of Fruits
and Vegetables and Marine Products Thro Individual Quick Frozen and Blast
Freezing and Plate Freezing |
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Products: |
Purees ·
Alphonso Mango Pulp ·
Respuri Mango Pulp ·
Telepuri Mago Pulp ·
Guave Pulp ·
Papaya Pulp Concentrates ·
Papaya Concentrate ·
Totapuri Mango
Concentrate ·
Whte Guava Concentrage ·
Tomato Paste Canning ·
Alphonso mango Pulp ·
Totapuri Mango Pulp ·
While Guava Pulp |
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Brand Names : |
·
OCEANAA (For Processing) ·
FISH N FRESH (For Retail) |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Others: 30/60 Days |
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Purchasing : |
L/C, Others: 30/60 Days |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Hatchery |
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500 Million |
480 Million |
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Farming |
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2 Tons/ Per Crop |
2 Tons. Per Crop |
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Individual Quick Frozen – Fruits and Vegetables |
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90 Tons/ per Day |
90/ Per Day |
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Individual Quick Frozen – Marine Roducts |
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90 Tons/ per Day |
30/ Per Day |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
250( 50 – In Office + 200 – In Factory) [approximately] |
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Bankers : |
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Facilities : |
(Indian Overseas Bank) C Cash Credit: Rs. 1438.000 Millions Term Loan: Rs. 128.600 Millions State Bank of EPC / Cash Credit – Rs.185.000 Crores Term Loan – Rs.200.000 Crores IDBI Bank Limited EPC / Cash Credit – Rs.100.000 Crores Term Loan – Rs.135.000 Crores |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S Devraj and Company Chartered Accountant |
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Address : |
No.11 / 6, |
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Tel. No.: |
91-44-52129570/ 28157500 |
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E-Mail : |
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Group Companies (As On 31.03.2008) : |
Address: 29, Zackaria Colony, Line of business: Manufacturer and Exporter of Fruit Pulps
Address: 29, Zackaria Colony, Line of Business: Software Development
Address: 29, Zackaria Colony, Line of Business: Prawn Farming
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CAPITAL STRUCTURE
As on 30.09.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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27009900 |
Equity Shares |
Rs. 10/-
each |
Rs. 270.099
Millions |
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As on 31.03.2011
(Provisional)
Authorised Capital : NA
Issued, Subscribed & Paid-up Capital : Rs. 362.599 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011
(Provisional) |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
362.599 |
270.099 |
149.999 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
83.861 |
53.696 |
23.073 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
446.460 |
323.795 |
173.072 |
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LOAN FUNDS |
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1] Secured Loans |
1047.966 |
684.628 |
590.857 |
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2] Unsecured Loans |
0.000 |
50.000 |
0.000 |
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TOTAL BORROWING |
1047.966 |
734.628 |
590.857 |
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DEFERRED TAX LIABILITIES |
11.318 |
8.953 |
3.617 |
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TOTAL |
1505.744 |
1067.376 |
767.546 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
591.296 |
524.669 |
427.917 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
657.270
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358.430 |
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Sundry Debtors |
69.834
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62.257 |
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Cash & Bank Balances |
8.105
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3.919 |
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Other Current Assets |
38.688
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32.090 |
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Loans & Advances |
196.365
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109.745 |
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Total
Current Assets |
970.262
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566.441 |
344.208 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
39.064
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8.051 |
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Provisions |
16.750
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15.683 |
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Total
Current Liabilities |
55.814
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23.734 |
4.579 |
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Net Current Assets |
914.448
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542.707 |
339.629 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1505.744 |
1067.376 |
767.547 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011
(Provisional) |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
1395.386 |
1064.903 |
551.882 |
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Other Income |
12.764 |
2.546 |
0.721 |
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TOTAL (A) |
1408.150 |
1067.449 |
552.603 |
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Less |
EXPENSES |
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Cost of Goods Consumed / Sold |
1164.641 |
778.460 |
499.551 |
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Manufacturing Expenses |
132.687 |
112.713 |
31.508 |
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Administrative Expenses |
151.652 |
119.317 |
53.398 |
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Increase/Decrease in Stock – WIP and FG |
(318.996) |
(147.919) |
(107.867) |
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TOTAL (B) |
1129.984 |
862.571 |
476.590 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
278.166 |
204.878 |
76.013 |
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Less |
FINANCIAL
EXPENSES (D) |
158.781 |
103.133 |
47.230 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
119.385 |
101.745 |
28.783 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
70.105 |
55.604 |
19.981 |
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PROFIT BEFORE
TAX (E-F) (G) |
49.280 |
46.141 |
8.802 |
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Less |
TAX (H) |
16.750 |
15.683 |
0.725 |
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PROFIT AFTER TAX
(G-H) (I) |
32.530 |
30.458 |
8.077 |
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Less |
Deferred Tax
Liability |
2.365 |
5.336 |
2.245 |
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BALANCE CARRIED
TO THE B/S |
30.165 |
25.122 |
5.832 |
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Earnings Per
Share (Rs.) |
0.90 |
1.13 |
NA |
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KEY RATIOS
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PARTICULARS |
|
31.03.2011
(Provisional) |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
2.31
|
2.85 |
1.46 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.53
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4.33 |
1.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.16
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4.23 |
1.14 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
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0.14 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.47
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2.34 |
3.44 |
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Current Ratio (Current Asset/Current Liability) |
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17.38
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23.86 |
75.17 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from 15, Zackaria Colony,
Bankers Charges
Report as per Registry
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Name of the company |
OCEANIC SHRIMPING LIMITED |
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Presented By |
Mr. Joseph Raj |
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1) Date and description of instrument creating the change |
Creation of Equitable mortgage by deposit of title deeds dated 18.08.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Availed by object Forntier Software Private Limited |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Creation of Charge on the Vacant Land belonging to the company Oceanic Shrimping Limited, measuring 13.98 acres situated at S.No.(s) 175/7, 175/4, 176, 177/1C, 177/1B, 175/2 Part 175/1, 182/2, 182/5, 182/3, 182/7, 182/4, 182/2, 177/1B, 177/1A, 177/1E, 176, 175/3, 174/2B, 180/9, 180/10, 177/1F, 177/2A nad 177/4 situated at No.-155l, Paiyanoor Village, Chengalpattu Taluk, Kancheepuram District of the loan availed by object Frontier Software Private Limited |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin @ 50% of security value, Interest BPLR + 0.25% |
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5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank, |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Corporate
identity number of the company |
U05001TN1994PLC029335 |
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Name of the
company |
OCEANIC EDIBLES INTERNATIONAL LIMITED |
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Address of the registered
office or of the principal place of
business in |
No. 29, Sackaria Colony, |
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This form is for |
Creation of
Charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
ICICI Bank Limited, ICICI Bank Towers, 4th Floor, West Wing
Plot No. 24, South Phase, Ambattur Industrial
Estate, Chennai-600058, Tamilnadu, India |
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Nature of
instrument creating charge |
Deed of Hypothecation
(Working Capital Facility) |
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Date of
instrument Creating the charge |
18.08.2010 |
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Amount secured by
the charge |
Rs. 150.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement Terms of
Repayment As per Agreement Margin As per Agreement Extent and
Operation of the charge Subservient
charge on Stock of raw materials, goods in process, semi finished and
finished goods, consumable stores and such other movables, including book
debts, bills in present and future. All terms and conditions as stated in the
hypothecation deed. |
|
Short particulars
of the property charged |
Subservient
charge on Stock of Raw Materials, goods in process, semi-finished and finished
goods, consumables stores and such other movables, including book debts,
bills in present and future |
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipments
·
Electrical Fittings
·
Vehicles
·
Computers
·
Tools and Accessories
·
Lab Equipments
·
Software
Trade References:
- INDUS
REFRIGEIRATION PVT LTD
First Floor, D-5, Industrial Estate, Guindy, Chennai – 600 032,
Contact Person : Mr.Varadarajan.
Tel. No.: 044-22500823
- CRAYONS ADVERTISING
LIMITED
D-21, Nelson Chambers,
Contact Person : Mrs.Vijayashree
Tel. No.:
044-42082975
- ANNAI
AUXILIUM STEEL TRADHERS
No.129/1, G.N.T.Road,
Ponniamman Medu, Madhavaram, Chennai – 600 110,
Contact Person : Mr.John
Tel. No.:
044-25530396
- GMMCO LIMITED
No.6,
Contact Person : Mr.Rajkumar.
Tel. No.:
044-22342611
AS PER WEBSITE
Profile:
The Oceanaa Group is one of the most respected
corporate houses in Chennai , engaged in multiple areas of operations across
different industrial sectors like manufacturing and exporting of premium
quality processed fruits and vegetables, fruit purees and concentrates for
international markets, Aqua Shrimps, Processed seafoods,
Printing, IT, Infrastructure, Aqua Research Foundation and Charities.
Oceanic Group
The Oceanic group now called as Oceanaa, one
of the most respected business conglomerates, was started during 1990 under the
able leadership of Mr. A Joseph Raj, the chairman
and, Managing Director and founder. The Oceanaa group
has spread over different industrial sectors such as Printing, Aqua Shrimp
seeds, Aqua shrimp farming, IQF Processing of Fruits, Vegetables and Marine
Products, Aseptic Fruit purees and concentrates, marine retail outlet,
Information Technology, Infrastructure, Aqua Research Foundation and Charities.
The progress of the group is bright and new business avenues are on the
research and shall be implemented on appropriate tenures.
The companies under the Oceanaa group are:
- Raj Brother Associates
- Oceanic
Edibles International Limited
- Object-Frontier
Inc.
- Object-Frontier
Software Private Limited
- M A Samy Charitable Trusts
- Oceanic
Research Achievements Institute
- Oceanic
Shelters Private Limited
- Orient
Exports
- Oceanic
Tropical Fruits Private limited
- Amalgam
Marine Harvest Limited
Year 1990
Joseph
Raj started his first company M/s Raj
Brother Associates (RBA) in 1990 a proprietor ship firm dealing in Sticker
labels for schools.
Year 1995
Joseph
Raj started his first flagship company M/s. Oceanic Shrimping Limited (OSL) now Oceanic Edibles International
Limited (OEIL) during the year 1995, with the objective of producing 80 million
Shrimp seeds per anum at marakkanam
near Pondichery and extended the facilities in to 3
units by producing 500 million seeds per anum and
three nauplii production centers in Andaman, Vizag and Kanyakumari by
producing 7000 million nauplii per anum. BY seeing the commitments towards quality standards
of the group, MPEDA has awarded with a permanent registration certificate under
code of practice scheme. Oceanic is one of the first hatcheries to get this
certificate for a shrimp hatchery till date. As such they have rated as one of
the quality producers of Tiger Prawn Seeds and the supply is being made to all
over
Year 1996-97
Object
Frontier Inc founded in 1997 in
Year 2001
The
Oceanaa group has started MA Samy
Charitable Trust in the remembrance of the Promoters father Mr. Arockiasamy who was a teacher whose Vision and ambition was
to help poor people for their upliftment and
education.
Year 2005
The next initiative of the Oceanaa Group, Oceanic
Shelters Private Limited is a new generation enterprise, founded on a wealth of
experience in land acquisition and development. Equally important is the
insight that Oceanic Shelters has into today’s space needs –be it a workplace
or a home, As a result Oceanic Shelters services are an accurate reflection of
the transformations that have taken place in the way India works and lives.
Furthermore, Oceanic Shelters goes beyond responding to emerging needs like
residential lay outs, Farm houses, IT infrastructure and apartments and
provides value-added services like real estate management.
Year 2006
Oceanic Research Achievements and Institute started and is putting a huge
effort in producing good quality seed by providing PCR lab, Microbiology lab
and water analysis lab. With the able guidance of the co-founder Mrs. Vimala Joseph.
Year 2007
The recent development in the group consists of takeover of a farming unit of
M/s Amalgam Marine Harvest Limited, a Cochin based company having their farming
and hatchery facilities in Poompuhar near Sirkali in Tamilnadu spread in
about 350 acres land by M/s. Orient exports, a partnership firm wherein Mr. A.
Joseph Raj and Mrs. Vimala
Joseph are the partners. This project is completed and is in operation since
September 2007. Now they are venturing in to Seabass
and Crab project in a big way.
Year 2007-08
The next development in the Oceanaa group consists of
creating infrastructure facilities for individual Quick Frozen Processing
Fruits, Vegetables and Marine Products by M/s. Oceanic Edibles International
Limited. This facility is the state of the art in the industry and is located
at Marakkanam near the existing hatchery facilities
in ECR near
Year 2008
The next development in the Oceanaa group consists of
creating infra facilities for Aseptic Packing of fruit purees and concentrates
by M/s Oceanic Tropical Fruits Private Limited. This facility also the state of
the art and is located at Marakkanam near the IQF
facilities to complete by April 2008 and production envisaged from May 2008
onwards.
Year 2008-09
The Oceanic Edibles International Limited (OEIL) is also under
implementation to set up 30 exclusive Modern hygiene Marine retail outlets
during the year 2008-09 in Chennai city and planning to increase its strength
to major towns in Tamilnadu, Andhra, Karnataka and Kerala. This unique type of retail store is first of its
kind in
The Oceanaa family of companies shares a set of five
core values: Integrity, Understanding, excellence, unity and responsibility.
These values, which have been part of the Group’s beliefs and convictions from
its earliest days, continue to guide and drive the business decisions of
Oceanic companies. The Oceanaa Group and its
enterprises have been steadfast and distinctive in their adherence to business
ethics and their commitment to corporate social responsibility. This is a
legacy that hs earned the Oceanaa
Group the trust of many stakeholders. Presently the Group work force is around
450 numbers and it will be around 1500 numbers before the end of September
2008.
PROMOTERS PROFILE
JOSEPH RAJ – Chairman and Managing Director- FOUNDER
The
chairman and managing director and founder holds a post graduate degree in
business administration, he started his first company M/s Raj
Brother associates (RBA) a proprietor ship firm during the year 1990 dealing in
sticker labels for schools, he is the first generation entrepreneur in his
family.
With the collective wisdom and experience of sound management and technical
back up, he started his first flagship company M/s. Oceanic Shrimping
Limited (OSL) now Oceanic Edibles International Limited (OEIL) during the year
1995. With the objective of producing 80 million Shrimp seeds hatchery, and
extended the facilities in to 3 units by producing 500 million seeds per anum. This combination paved the way to turn the company in
to one of the
His vision aspiration and appreciation for technology gave impetus to
start Object Frontier Systems Private Limited (OFS). Having created all
successful ventures within a short span of time, it has been possible for OEIL
and OFS to become a market leader in their target segment with its unique
quality and best solutions under the able leadership of Joseph Raj.
JAMES WALTER - Co Founder
James Walter is a seasoned industry veteran who manages business
development, planning and strategy at OFS, he served at Solectron
(a contract manufacturing giant),
DOMINIC SAVIO- Co- Founder
Dominic Savio led an illustrious career over
the past 10 years in the software industry. An
VIMALA JOSEPH – Co- Founder
Mrs.
Vimala Joseph holds a Post Graduate degree in Zoology
and completed her M.Phil and presently pursuing Ph.D in Vibrio Influence in
hatchery. She is quality control specialist and she is managing the entire
quality of the product since inception. She introduced all the systems in the
hatchery and farming to go through the Tracebility of
the product.
Oceanic
Edibles
The Oceanic group now called as Oceanaa, one of the
most respected business conglomerates, was started during 1990 under the able
leadership of Mr. A Joseph Raj, the chairman and,
Managing Director and founder. The Oceanaa group has
spread over different industrial sectors such as Printing, Aqua Shrimp seeds,
Aqua shrimp farming, IQF Processing of Fruits, Vegetables and Marine Products,
Aseptic Fruit purees and concentrates, marine retail outlet, Information
Technology, Infrastructure, Aqua Research Foundation and Charities. The
progress of the group is bright and new business avenues are on the research
and shall be implemented on appropriate tenures.
Oceanic Edibles international limited (Formerly Oceanic shrimping
limited), apart from existing aqua shrimp seed production, is now focusing
towards aqua farming, IQF processing of fruits and vegetables, marine products
such as Shrimps, cuttle fish, squid and other
varieties of fishes, Retailing of the processed products plus other products
procured from various potential sources, supplying to industrial sectors with
in
They have sound technical expertise with decades of proven experience in all
the divisions and in all the area of operations such as Procurement, Quality
control and assurance, Production and Sales. Also they have IT support, from
day one onwards, to monitor the activities and to cater the needs of retail
customers, Industrial sector and overseas market, thanks to the own group
company, Object-Frontier Systems a IT giant.
Oceanic thus brings with it a rare blend of proven organizational capabilities,
high systems orientation, rich global expertise and more importantly, strong
customers focus. They serve the customers by providing them with the finest
variety of quality, fresh products anywhere.
Management
Profile:
JOSEPH RAJ – FOUNDER
-
CHAIRMAN and MANAGING DIRECTOR
The
chairman and managing director and founder holds a post graduate degree in
business administration, he started his first company M/s Raj
Brother Associates (RBA) a proprietor ship firm during the year 1990 dealing in
sticker labels for schools, he is the first generation entrepreneur in his
family.
With the collective wisdom and experience of sound management and technical
back up, he started his first flagship company M/s. Oceanic Shrimping
Limited (OSL) now Oceanic Edibles International Limited (OEIL) during the year
1995, with the objective of producing 80 million Shrimp seeds per anum and extended the facilities in to 3 units by producing
500 million seeds per anum and three nauplii production centers in Andaman, Vizag,
and Kanyakumari by producing 7000 million nauplii per anum. This
combination paved the way to turn the company in to one of the
His vision aspiration and appreciation for technology gave impetus to start
Object Frontier Systems Private Limited (OFS). Having created all successful
ventures, with in a short span of time it has been possible for OEIL and OFS to
become a market leader in their target segment with its unique quality and best
solutions.
H. R. RAJU – EXECUTIVE DIRECTOR
Mr. Raju holds Post Graduate Degree, M.A and
Post Graduate Diploma in Management Studies (DMS –
RAMESH NARAYANAN – CHIEF FINANCE OFFICER
He is a professionally qualified cost accountant with Post Graduate
degree in commerce and has 20 years of experience in fund management. His
contributions are mainly implementing financial discipline, fund management and
cost effective measures apart from the entire commercial aspects of the group.
K. DOUCHEYANDHAN BHARATHI – HEAD IQF – FRUITS and VEGETABLES
He is a Post Graduate in Food Technology from
KEITH ADRIAAN REIGO- HEAD – RETAIL
A seasoned retailer with about 15 years of experience and a decade in Food
Retail joined the Oceanaa Group in Nov ’07 as Head of
their Retails Supermarket Division. Prior to this, he has served in senior
management positions in well-established retail chains as Head of Operations
across various cities in the south. With his vast experience in food retail and
a background in Marketing Management his vision is to make Oceanaa’s
“ Fish and Fresh” the destination store for every neighborhood’s fresh,
vegetable and protein needs.
RAMESH NAIDU – MANAGER- ASEPTIC
He
holds a Diploma in Mechanical Engineering and Agriculture Mechanic form I.T.I
with 10 years of experience, and specialist in Evaporation Process, Sterilization,
Aseptic filling process, reverse osmosis process and chilling plant operation
with the leading organizations.
Dr. SELVARAJ- GENERAL MANAGER- HATCHERY and FARM
He holds a M.Sc., Ph.D
degree in Marine Biology having 35 years of experience in marine Hatchery,
Farming and Processing of various fish, Prawn and crab. He worked as Assistant
Director with Central Marine Fisheries Research Institute, Ministry of
Agriculture and MPEDA under Ministry of Commerce for more than 25 years at
various levels. He is heading the Tiger Prawn, Seabass
and crab hatchery and farming Division.
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.44.69 |
|
|
1 |
Rs.70.87 |
|
Euro |
1 |
Rs.62.26 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.