MIRA
INFORM REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
PREMIER COIL PRODUCTS |
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Registered
Office : |
S.F. 61/4E |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1989 |
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IEC No.: |
3204000150 |
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TIN No.: |
33102282592 |
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CST : |
666708 |
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Legal Form : |
A partnership concern with unlimited liability of the partners |
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Line of Business
: |
Manufacturers and Exporters of cocopeat briquettes, cocopeat bales,
cocopeat 4 cubic feet bags, cocopeat grow bags, cocopeat grow poles, cocopeat
discs, coir twines, soil erosion nets, geo textile nets, biolog / coir
wattle, coir fiber pots, coconut husk chips, coir liners, rubberized coir
sheet / coir sheets, premier coir mattresses, tree mats and pot toppers, coir
cut fiber, curled coir, neem oil, neem powder, and all types of machines in
the coir industry. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 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 : |
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Designation : |
Office Assistant |
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Contact No.: |
91-4259-284690 |
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Date : |
07.03.2011 |
LOCATIONS
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Registered Office/ Factory : |
S.F. 61/4E |
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Tel. No.: |
91-4259-284690/228791 |
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Mobile No.: |
91-9865895950/9843010886 |
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Fax No.: |
91-4259-284691 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. S Mahesh Kumar |
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Designation : |
Partner |
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Name : |
Mrs. Anuja Mahesh Kumar |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
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Designation : |
Office Assistant |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of cocopeat briquettes, cocopeat bales,
cocopeat 4 cubic feet bags, cocopeat grow bags, cocopeat grow poles, cocopeat
discs, coir twines, soil erosion nets, geo textile nets, biolog / coir
wattle, coir fiber pots, coconut husk chips, coir liners, rubberized coir
sheet / coir sheets, premier coir mattresses, tree mats and pot toppers, coir
cut fiber, curled coir, neem oil, neem powder, and all types of machines in
the coir industry. |
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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 : |
L/C, Credit |
GENERAL INFORMATION
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No. of Employees : |
25 |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
--- |
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Associates/Subsidiaries : |
Address: # 54, Nehru Colony,
Mahalingapuram, Pollachi – 642002, Tel. No.: 91-4259-284690 Fax No.: 91-4259-232472 Mobile No.: 91-9843010886/9894695950 E-mail : sunco@eth.net,
info@suncoir.com , suncoexports@yahoo.co.in Line of Business: Exporters of coir
products and machines
Address: Adiyamankottai,
Punnamchatramaravakurichi, Karur, District |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
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Sales Turnover |
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About 0.250 to
0.500 |
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LOCAL AGENCY FURTHER INFORMATION
This partnership firm is part of the Sunco group of companies. The group
was established in the year 1989. The firm is engaged in the manufacturing and supplying
innovative range of coir products and machines. They are pioneers in the
manufacture, export and supply of a versatile range of coir products like Coir
Liners, Coir fiber pots, Geotextile nets, Soil Erosion nets,
Their ultra-modern infrastructure facilitates production of high
quality. The factory is spread over a total area of twenty hectares with the
facility to manufacture both coir products and coir machines. A large drying
yard makes possible the drying of the Coco Peat and Coco Fibers. Natural solar
drying and large well aired concrete floors aid the drying process. Most of the
Coco Peat and
Their assets are the factory premises and the machinery they own. The
group on the whole has a turnover of more than 2 Million US $. Caution advised
in all financial dealings with them. Orders may be placed against LCs or
documents thru Bank. A medium sized, long standing reputed firm with whom
dealings may be done.
Following are the rich on—site facilities possessed by them:
• They are backed by a properly protected
storing yard spread across an area of 15 hectares that can hold and also
protect the procured raw material from weeds and various other foreign material
• Their large drying yards and top quality
drying process adds unique value to the
• Quality of the range is strictly controlled
with the help of latest machinery
• The quality testing is completely computer
tested at all stages of production
• Only a diligent and experienced team of
professionals manages different processes
• The factory also contains a sophisticated
laboratory along with skilled quality control personnel
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.44.99 |
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|
1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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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
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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.