1. Summary Information
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|
Country |
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Company Name |
PONNI
CORPORATION |
Principal Name 1 |
Mr. Balasubramanian |
|
Status |
Small Concern |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
Old No. 10, New
No 39 Kamaraj Street, Otteri, Chennai
– 600012, Tamilnadu |
||
|
Established Date |
1999 |
SIC Code |
-- |
|
Telephone# |
91-44-26624336 |
Business Style 1 |
Manufacturer, Dealers And Traders of Students cat wax
crayons |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
10 (In Factory) |
Product Name 2 |
-- |
|
Paid up capital |
-- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Andhra Bank |
|
Public Limited Corp. |
-- |
Business Period |
11 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
Sister Concern |
Country
India |
Company
Name |
Parvathy Stationery Industries |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(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 |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
4,800,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PONNI CORPORATION |
|
|
|
|
Registered
Office : |
Old No. 10, New No 39 Kamaraj
Street, Otteri, Chennai – 600012, Tamilnadu |
|
|
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|
Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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|
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Year of
Establishment : |
1999 |
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|
|
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Capital
Investment / Paid-up Capital : |
Not Available |
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|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Dealers And Traders of Students cat wax crayons, marking ink, office paste, birthday candles, stamp pad ink, office candles, fountain pen, cat scales |
|
|
|
|
No. of Employees
: |
10 (In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Concern |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a small proprietory concern in its field. Its scale of
activities are limited. 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 for small 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
|
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. Balasubramanian |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9444032081 |
|
Date : |
03.06.2011 |
LOCATIONS
|
Registered Office/Factory : |
Old No. 10, New No 39 Kamaraj
Street, Otteri, Chennai – 600012, Tamilnadu, India |
|
Tel. No.: |
91-44-26624336 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
AC 30/10 Sidco Industrial Estate, Thirumudivakkam, Chennai 600044, Tamilnadu, India |
SOLE PROPRIETOR
|
Name : |
Mr. Balasubramanian |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Dealers And Traders of Students cat wax
crayons, marking ink, office paste, birthday candles, stamp pad ink, office
candles, fountain pen, cat scales |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
|
|
|
|
No. of Employees : |
10 (In factory) |
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|
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|
Bankers : |
Andhra Bank, Otteri, Chennai – 600044, Tamilnadu, India |
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|
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|
Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
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|
Sister Concern : |
Parvathy Stationery Industries Address: ACAC0/10 Sidco
Industrial Estate, Chennai 600044 Line of
Business: Manufacturers of Students cat wax crayons, marking ink, office paste,
birthday candles, stamp pad ink, office candles, fountain pen, cat scales |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2010 |
|
Sales Turnover (Approximately) |
|
|
4.800 |
The above information has been parted by Mr. Balasubramanian
(Proprietor)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
This is a proprietorship firm. The proprietor Mr. Blasubramanian started this firm in the year 1999. He is manufacturing student’s cat wax crayons, marking ink, office paste, birthday candles, stamp pad ink, fountain pen etc. He has another sister concern called Parvathiy Stationery Industries in Sidco Industrial Estae, Thirumudivakkam which is also engaged in the same business. Together they manufacture the above items for sale in the Southern part of the country and do third party exports to Sri Lanka. (Since they do not have an import export code they have to export on the strength of the third party). He does a turnover of about Rs.5.000 Millions annually and has about 10 people working for him. Now, since he is outsourcing the labels that go on top of the crayons and other products he thinks that he can make his own labels. The cost effectiveness of his products will increase and apart from that he thinks the excess capacity can be utilized for the sale of labels outside. With this intention he tried to find out where he can obtain a good label producing machine and came across a machines made in Korea.
He was guided by the South zone of the National Small Scale Industries Corporation Limited in his effort.
South – NSIC Limited
New No 422(Old No 615), Anna Salai, Chennai – 600006,(Tamilnadu)
Tel. : 91-44-28293347/28294541/28294066/28291943
28292056/ ® 28130077
Fax: 91-44-28295791
Email: rochen@nsic.co.in
They have promised to handle all the details for him and he is very eager and enthusiastic to import the machine. His bankers are Andhra bank, Ottery. However payment for the machine shall be made to the NSIC who will oversee the deal.
Apart from this recent happening his factory and sales are steady and he is hoping to improve on his turnover after the arrival of the new machine from Korea.
A genuine small scale industry with a turnover of just about Rs.5.000 Millions INR annually who plans to expand his operations with a term loan from his bank. Caution advised in all financial dealings with him as his is a single man show. However since the NSIC is involved imports may be safe.
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.44.72 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.65.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
29 |
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.