MIRA
INFORM REPORT
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Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SRI |
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Registered
Office : |
# 17, New Salem Bye Pass Road, L.N.S. Post, Karur – 639 002, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
2008 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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TIN No.: |
33653784480 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Manufacturers, Suppliers and Traders of Indonesian Coal, Porous Prilled
Ammonium Nitrate, Sodium Bicarbonate, Soda Ash, High Moisture Indonesian
Coals, Power Plants Indonesian Coals, Gas Indonesian Coals, Metallurgy
Indonesian Coals, Energy Indonesian Coals, Industrial Indonesian Coal,
Crystalline Sodium Bicarbonate, Crystalline Sodium Bicarbonates etc. |
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No. of Employees
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Approximately 35 (In office – 5, In factory – 30) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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. |
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 : |
Mr. P. Kumaresan |
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Designation : |
Managing Partner |
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Contact No.: |
91-9965509090 |
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Date : |
10.06.2011 |
LOCATIONS
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Registered Office/ Factory : |
# 17, New Salem Bye Pass Road, L.N.S. Post, Karur – 639 002, Tamilnadu |
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Tel. No.: |
91-4324-240868 |
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Mobile No.: |
91-9965509090 (Mr. P.
Kumaresan) |
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Fax No.: |
91-4324-240868 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. P. Kumaresan |
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Designation : |
Managing Partner |
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Name : |
Mrs. Palaniammal |
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Designation : |
Dormant Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Suppliers and Traders of Indonesian Coal, Porous Prilled
Ammonium Nitrate, Sodium Bicarbonate, Soda Ash, High Moisture Indonesian
Coals, Power Plants Indonesian Coals, Gas Indonesian Coals, Metallurgy
Indonesian Coals, Energy Indonesian Coals, Industrial Indonesian Coal,
Crystalline Sodium Bicarbonate, Crystalline Sodium Bicarbonates etc. |
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Products : |
v
Indonesian Coal v
Porous Prilled Ammonium
Nitrate v
Sodium Bicarbonate v
Soda Ash |
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Terms : |
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Selling : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
Approximately 35 (In office – 5, In factory – 30) |
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Bankers : |
v
Karur Vysya Bank, Karur Branch v
City Union Bank, Karur Branch |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 (Approximately) |
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Sales Turnover |
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About 20.000 |
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The above information has been parted by Mr. P. Kumaresan (Managing Partner).
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
v
Blue Metals, Karur
PROFILE:
This is a partnership firm started in 2008. The
active and managing partner is Mr. P. Kumaresan. The inactive and namesake
partner is his mother Mrs. Palaniammal. The firm is engaged in the manufacture
and supply of Industrial minerals. They offer a wide range of industrial
minerals that includes Indonesian coal, Porous Prilled Ammoniunm Nitrate,
Sodium Bicarbonate and Soda Ash. These chemicals are processed by using latest
technologies and maciens that ensure their top quality. Their infrastructure at
Karur helps them to prepare high quality minerals. They have a wide network in
the nationwide markets to support their sales.
Till now, they have not done any exports. They
have been supplying in the local markets and have been doing well for
themselves. The turnover of the firm for a year is about Rs.20.000 millions.
Their bankers are Karur Vysya Bank and City Union Bank, both Karur Branches. In
terms of tonnage they have the capacity right now to produce and process about
10 MT a month.
Their clients are mostly in
There is no way to assess the financial
strength of the firm. Caution advised in all financial dealings with them.
Orders may be placed and documents may be negotiated thru bank.
A small firm who products have good demand in
the Karur/ Trichy/ Erode area.
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.44.82 |
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|
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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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 |
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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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.