|
Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
KARTHIK ENTERPRISES |
|
|
|
|
Registered
Office : |
9A/3-1, Arokiapura Shanmugapuram, Chottaian Thoppu, Tuticorin-628002,
Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Approximately) |
|
|
|
|
Year of
Establishment : |
1996 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Not Available |
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|
|
|
IEC No.: |
3596004390 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of all types of medicinal herbs, spices, cardamom,
salt and other food items. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
-- |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established Proprietory 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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. Gunasekaran |
|
Designation : |
Proprietor |
|
Date : |
17.04.2012 |
LOCATIONS
|
Registered Office/ Factory : |
9A/3-1, Arokiapura Shanmugapuram, Chottaian Thoppu, Tuticorin-628002,
Tamilnadu, India |
|
Tel. No.: |
91-461-2361762/2360227 |
|
Fax No.: |
91-461-2362649 |
|
E-Mail : |
karthik@karthikenterprises.com |
|
Website : |
SOLE PROPRIETOR
|
Name : |
Mr. M. Gunasekaran |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
M. Tech, D.A.C. MD (Acu) DMT MHREI |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of all types of medicinal herbs, spices,
cardamom, salt and other food items. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit |
|
|
|
|
Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users |
|
|
|
|
No. of Employees : |
25 (Approximately) |
|
|
|
|
Bankers : |
Tamilnadu Mercantile Bank, Main Branch, Tuticorin |
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|
|
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Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Not Available |
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|
|
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
-- |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
48.300 |
The above information has been parted by Mr. Gunasekaran (Proprietor).
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Profile:
This is a proprietorship firm. The firm was started in the year 1996. The proprietor is Mr. M. Gunasekaran B.E. M.Tech, D.A.C. MD (Acu) DMT MHREI. Having worked as a scientist in CVRDE (combat vehicles research and development establishment) and undergone courses in Acu puncture, Acu pressure, Homeopathy and Magneto Therapy, he has gained sound knowledge on the medicinal herbs and dedicated himself to serve his clients in the most efficient and useful form. Knowledge of herbs and their medicinal uses has triggered the use and application of herbal medicine to a great extent. Herbal medicine treats a wide variety of problems and promotes general health. Karthik Enterprises is a leading firm proficient in medicinal herbs trade. Karthik enterprises represent the third generation of a family known for the tradition of quality herbal business. They have been in this genre of medical service for a long period. Their products include Senna products, Crude drugs, Pharmaceutical Raw materials, and Indian medicinal and botanical herbs, Spices, Dry Fruits, Gums and Dry Flowers. They welcome genuine liaising agents to enhance their trade in USA, China, Japan, Germany and other European and Middle east countries. For effective production work they have state of the art machineries, including mixers, blenders, pressing machines etc. They process about 10 MT of senna leaves per day, have their own packing unit, have a strong network in Rajasthan and Gujarat and have an efficient transportation system to ensure fast and timely delivery of the products. They consume roughly about 50% of the Tamilnadu harvest of senna leaves.
This being their main stay of business they have now started exporting salt, cotton waste, Chemicals, Garnets and medicines, vegetables, spices, dry flowers, decorative items, dry fruits, masala products, sugar etc.
They employ about 25 people.
Their bankers are Tamilnadu Mercantile bank, Main Branch, Tuticorin and
their turnover for the year ended 31.3.2012 is Rs.48.300 millions. They have monopoly is senna leaves and other
herbs in South India.
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.51.99 |
|
|
1 |
Rs.83.53 |
|
Euro |
1 |
Rs.68.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.