MIRA
INFORM REPORT
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Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
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Name : |
PURE CHEMICALS COMPANY |
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Formerly Known As : |
PON PURE CHARITIES. |
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Registered Office : |
No. 32 H Block, 15th |
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Country : |
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Financials (as
on) : |
31.03.20085 (group) |
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Year of Establishment : |
1981 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the
Partners. |
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Line of Business : |
Manufacturer of Chemicals. |
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No. of Employees : |
More than 400 (Approximately) |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba (46) |
RATING
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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. Mr. Satya, Assistant General Manager provided to us the general information and denied to disclose financial details. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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 (GENERAL DETAILS)
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Name : |
Mr. Satya |
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Designation : |
Assistant General Manager |
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Contact No.: |
91-8939978263 |
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Date : |
23.09.2011 |
LOCATIONS
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Registered /Head Office : |
No. 32 H Block, 15th |
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Tel. No.: |
91-44-26161803 to 26161811 (9 Lines) |
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Fax No.: |
91-44-26161813/ 14 |
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E-Mail : |
basicchemicals@pure-chemical.com |
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Website : |
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Location : |
Owned |
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Factory 1 : |
2/6D, |
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Tel. No.: |
91-413 - 2203210 / 2203151 |
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Fax No.: |
91-413-2332210 |
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E-Mail : |
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Factory 2 : |
45, Sidco Industrial Estate, Ranipet - 632 403 |
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Tel. No.: |
91-4172 - 244179 / 244863 |
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E-Mail : |
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Factory 3 : |
Unit No.129, Creative Industrial Estate, Sunder Nagar,
Road No.2, Kalina, Santacruz (E), Mumbai - 400 098. |
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Tel. No.: |
91-22-66937163/ 7164/ 7165 |
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Fax No.: |
91-22-26664729 |
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E-Mail : |
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Branch 1 : |
No.29, Nirman Apartment, Mayur Vihar, Phase I Ext. |
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Tel. No.: |
91-11 - 55647055 |
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E-Mail : |
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Branch 2 : |
Plot No.14,15,16, Sector 1A, Room No.7, Ist Floor,
Popoular Plaza |
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Tel. No.: |
91-2836 - 231589 |
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E-Mail : |
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Branch 3 : |
30-10-28, 2nd Floor, Lalitha Complex, Dabagardens, |
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Mobile No.: |
91-98480 18516 |
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E-Mail : |
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Branch 4 : |
Ist Floor, Gulistan Compound, No.8, |
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Tel. No.: |
91-2642 - 230904 |
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E-Mail : |
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Branch 5 : |
Shop No. 3, Ground Floor, ABCO Trade Centre,
Kottarachowky, |
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Tel. No.: |
91-824 - 2451701 |
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E-Mail : |
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Branch 6 : |
102, 3-47-124, Vasavi Nagar, Karkhana, Secunderabad - 15. |
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Tel. No.: |
91-40 - 27746087, 27741265 |
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Fax No.: |
91-40 - 27746087 |
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E-Mail : |
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Branch 7 : |
23A, Mathulaparambil, |
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Tel. No.: |
91-484-2780130, 2777235 |
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E-Mail : |
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Branch 8 : |
No.551, 3rd |
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Tel. No.: |
91-80-23493289, 23492251 |
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Fax No.: |
91-80 - 23492251 |
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E-Mail : |
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Branch 9 : |
No.206B, (Old No.33B/4), |
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Tel. No.: |
91-4562 - 277794 |
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E-Mail : |
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Branch 10 : |
No.23, Ammaniammal Layout, |
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Tel. No.: |
91-421 - 2424256, 2424337 |
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Fax No.: |
91-421 - 2424319 |
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E-Mail : |
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Branch 11 : |
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Tel. No.: |
91-424 - 2210677, 2218106 |
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Fax No.: |
91-424 - 2212720 |
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E-Mail : |
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Branch 12 : |
1252, |
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Tel. No.: |
91-422 - 2564005, 2563451 |
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Fax No.: |
91-422 - 2563451 |
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E-Mail : |
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Branches 13: |
213, Kamarajar Salai, |
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Tel. No.: |
91-452 - 2630437, 2630685, 2630683 |
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E-Mail : |
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Branches 14: |
Sengunthapuram, 5th |
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Tel. No.: |
91-4324 - 259374 / 236724 |
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E-Mail : |
PARTNERS
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Name : |
Mr. M Ponnuswami |
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Designation : |
Partner |
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Address : |
45 VII Cross Street Shenoy Nagar, Chennai – 600030, |
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Date of Birth : |
8.10.1954 |
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Name : |
Mrs. P. Manoranjitham |
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Designation : |
Partner |
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Address : |
45 VII Cross Street Shenoy Nagar, Chennai – 600030, |
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Date of Birth : |
15.06.1961 |
KEY EXECUTIVES
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Name : |
Mr. Satya |
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Designation : |
Assistant General Manager |
BUSINESS
DETAILS
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Line of Business : |
Manufacturer of Chemicals. |
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Products : |
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Exports : |
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Products : |
Chemicals |
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Countries : |
·
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·
·
USA |
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Terms : |
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Selling : |
L/C, Cash and Credit (30-60 Days) |
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Purchasing : |
Cash and Credit (30-60 Days) |
GENERAL
INFORMATION
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Customers : |
End Users, OEM’s and Manufacturer ·
Akzo Nobel ·
Annabond Essex ·
Asian Paints Limited ·
Asian Paints Limited ·
Aurobindo Pharma ·
Berger Paints ·
Berger Paints ·
Castrol ·
Cipla Limited ·
Asian Peroxide Limited ·
Biocon ·
Bostic Findley ·
BASF ·
Dr.Reddys Lab ·
Forward Leather ·
Color Plus ·
Henkal Spic ·
Extraction Limited ·
Kancor Flavours ·
Goodlac Nerolac ·
Hidesign ·
Matrix Laboratories ·
Nutrine Confectioneries ·
Reliance Industries Limited ·
Kurlon ·
MRF Limited ·
Ranbaxy ·
KG Denim ·
Mechemco ·
Sun Pharmaceuticals ·
Synthite Industrial Corporation ·
Tamil Nadu News Print Limited |
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No. of Employees : |
More than 400 (Approximately) |
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Bankers : |
v
State Bank of |
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Banking Relations
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-- |
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Auditors : |
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Name : |
Raj and Alexander Company Chartered Accountants |
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Address : |
16 GC Nelson Nest, Ground Floor, |
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Group Companies : |
Pon Pure Chemicals (Private) Limited Line of Business – Trader of Chemicals |
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 : |
Not Divulged |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Divulged
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover (Group) |
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800.00 |
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LOCAL AGENCY
FURTHER INFORMATION
Trade
References:
·
Ranbaxy
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Check List by Info Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the firm |
Yes |
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Constitutions of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
-- |
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No. of Employees |
Yes |
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Name of person Contacted |
Yes |
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Designation of contact person |
Yes |
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Turnover of firm for last year |
No |
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Profitability for last three years |
-- |
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Reasons for Variation <> 20%` |
-- |
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Estimation for coming financial year |
No |
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Capital in the business |
No |
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Details of sister concern |
Yes |
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Major Suppliers |
No |
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Major Customers |
Yes |
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Payment Terms |
Yes |
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Export/ Import Details (If applicable) |
Yes |
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Market Information |
-- |
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Litigations that the firm/ Promoter involved
in |
-- |
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Banking Details |
Yes |
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Banking Facility details |
No |
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Conduct of the banking account |
-- |
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Buyer visit details |
-- |
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Financials, fi provided |
No |
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Incorporation details, if applicable |
-- |
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Last accounts filed at ROC |
-- |
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Major Shareholders , if available |
-- |
AS PER WEBSITE
Profile:
Pure Chemicals group with
the core business of Chemical distribution has been built on strong values such
as Integrity, Customer Satisfaction, Ethical Business Practice and commitment to
SHE ( Safety, Health and Environment ). Mr. M.Ponnuswami, a first generation
entrepreneur, has built the company with a strong vision and Pan India
presence. The passion for customized service catalyzed the growth of the
company. Over the last 30 Years, the commitment to business and goodwill earned
brought the company new agencies of domestic and International manufacturers
and the new agencies brought avenues to provide basket of product to different
segment of the industry. The company exports chemicals, as part of the growth
strategy, by leveraging on the benefit of SEZ established in Kandla.
The group provides value
addition in the supply chain by offering infrastructure such as, Network of
Branches with ware house, Qualified Sales Team, Underground Storage Tanks with
barrel filling station for solvents in strategically important places, Quality
control lab, Technical service lab for specialty chemicals and Ethical work
culture. With the support of Customers and Suppliers, today the company finds place
in the list of leading distribution companies in India. The group has
diversified in to renewable Energy.
OPERATIONS
The company has established
Regional and Branch Managers to closely interact with end users and to serve them.
Recognizing the service requirements, the company operates two broad SBU's ,
Basic Chemicals and Specialty Chemicals. The company meets the requirements
both in bulk and standard packing. Agencies of Domestic and International
manufacturers are being lined up aligning with the business need of the SBU's.
Bulk imports are carried out in Kandla, Mumbai and Ennore ports while FCL lots
are being imported in all leading ports to meet customer requirements with best
possible cost to serve.
The bulk solvents, from
Domestic and International manufacturers are repacked in standard packing size
to meet the retail requirements of the consumers. SOP is set in place to
monitor and to ensure quality parameters in line with the manufacturer.
All branches are connected
by Oracle based ERP network to provide MIS data to give the Managers an edge to
take decisions.
As a part of the growth
plan, chemicals from India are being exported to countries like Srilanka,
Nigeria, Bangladesh and Middle East. The warehouse established in Kandla
Special Economic Zone operates in the same way as they are in Singapore and
Middle East, by providing a competitive edge.
Corporate Social
Responsibility:
As a way of giving back to
the society they have formed a company in the name of PON PURE CHARITIES.
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.48.22 |
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|
1 |
Rs.75.63 |
|
Euro |
1 |
Rs.65.65 |
SCORE & RATING EXPLANATIONS
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SCORE
FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
|
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 |
YES |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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.