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Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ESWA EXPORTS |
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Registered
Office : |
Lakshmipudur, Getticheviyur, Erode - 638110,Tamil Nadu |
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Country : |
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Year of
Establishment : |
2008 |
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Capital
Investment/ Paid-up Capital: |
Not Available |
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IEC No.: |
3208007698 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer and Exporters of Maize, Rice, Turmeric, Red Chilli,
Onion, Red Onion, Small Onion, Vegetables, Vermicelli, Coconut Products, Yam,
Coir Fiber and Coconut Coir Fiber. |
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No. of
Employees: |
10 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (11) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Recently commenced business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the concern was established in the year 2008, the concern has recently
commenced its business activities. It started in the year 2008 and went
dormant due to personal problems of the proprietor itself. However, they have
some orders for exports. Business is active. Payments are unknown. The concern can be considered for business dealings on a safe and
secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
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INFORMATION PARTED BY
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Name : |
Mr. L P Palanisamy |
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Designation : |
Propreitor |
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Contact No.: |
91-9884023536 |
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Date : |
30.03.2012 |
LOCATIONS
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Registered Office : |
Lakshmipudur, Getticheviyur, Erode - 6381 1 0,Tamil Nadu, |
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Tel. No.: |
91-4285-255459 |
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Mobile No.: |
91-9715070202/ 9884023536 (Mr. Mr. L P Palanisamy) |
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Fax No.: |
Not Available |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr. L P Palanisamy |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Maize, Rice, Turmeric, Red Chilli,
Onion, Red Onion, Small Onion, Vegetables, Vermicelli, Coconut Products, Yam,
Coir Fiber and Coconut Coir Fiber. |
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Terms : |
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Selling : |
L/C and Credit (30 days) |
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GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Canara Bank, Gettcheviyur, Erode - 638110 |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
-- |
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Total : |
Not Available |
The above information has been parted by Mr. Mr. L P Palanisamy
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available Financial Data
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Construction
of the firm |
Yes |
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Premises
details |
No |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
No |
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No.
of Employees |
Yes |
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Name
of Person Contacted |
No |
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Designation
of contact person |
No |
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Turnover
of firm for last three years |
No |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
No |
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Capital
the business |
No |
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Details
of sister concerns |
No |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
No |
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Export
/ Import Details [If Applicable] |
No |
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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,
if provided |
No |
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Incorporation
details, if applicable |
No |
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Last
accounts filed at ROC |
No |
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Major
Shareholders, if applicable |
No |
Profile
This is a proprietorship firm. It was started in the year 2008. The proprietor is Mr. L P Palanisamy. Now, after starting the firm the firm went dormant for some years due to personal problems of Mr Palanisamy. However they solved all those problems now and the firm is ready for operations. The firm is engaged in the exports of agro products. Being placed in Erode the firm is strategically in a position to source best materials from the farmers in an around Erode, Pollachi, Gobichettipalayam, Palakkad and Kerala. Thus they are able to get the best agro products in the quickest turnover time and are able to supply fresh products to their clients. The firm does not supply locally. They are interested only in exports. They have their own spacious warehousing facility that is fully equipped with advanced arrangements for fire, stock lifting, temperature control and others to maintain the quality of the products. They have cold storages to preserve the freshness of the products. They also posses advanced packaging machines since packing agro products needs special care.
About 10 people work for them. Right now they have some orders on hand but till date they
have not shipped even a single export order. They are hoping to do well this year. Their bankers are Canara Bank, Getticheviyur Branch, Erode.
A small firm that is yet to take off. There is no way to assess the financial strength of the firm. Caution advised in all financial dealings with them. Orders may be placed against LCs or documents may be drawn thru bank.
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.51.20 |
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|
1 |
Rs.81.50 |
|
Euro |
1 |
Rs.67.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
1 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
1 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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 |
|
11 |
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 |
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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 |
|
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.