MIRA INFORM REPORT

 

 

Report Date :           

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

NARATHA AGRO INDUSTRIES (PVT) LTD

 

 

Registered Office :

400, Nugape, Uswetakeyawa

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

03.02.2004

 

 

Com. Reg. No.:

PV 8311

 

 

Legal Form :

Private Limited Liability Company (In Operation)

 

 

Line of Business :

Manufacture of Vanaspati

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

Litigation :

Clear

 

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GENERAL

- Basic information at a glance

     

a.

Name of Subject of Inquiry

:

NARATHA AGRO INDUSTRIES (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company (In Operation)

c.

Managing Director

:

Narayana Mudiyanselage Manjula

d.

Primary Line of Business

:

 

Manufacture of Vanaspati

 

e.

Place of Business

 

 

:

 

 

 

 

400,

Nugape,

Uswetakeyawa,

Sri Lanka

 

Tel. No: (00 94 11) 483 1268, 257 7504 /5

Fax No: (00 94 11)   483 1267,257 7506

 

 

g.

No. of Employees

:

Not Disclosed

 

 

COMPANY DETAILS   

 

- Registration and Shareholder Details

 

a.

 

Registration No

:

N ( PVS) 36533

Date of Registration

:

03rd February 2004

b.

Registration No

:

PV 8311

Date of Registration

:

22nd Octomber 2008

c.

Registered Office

:

# 400, Nugape Uswetakeyawa, Sri Lanka. 

d.

Board of Directors

As At

14th Octomber 2011

:

Narayana Narayana  Mudiyanselage Manjula

Managing

Director

Bandara Pohoramalage Gamani

  Director

Narayana Cheranika Nilakshi Geekiyana

Director

e.

Issued Share Capital

:

Rs   800,000,000

f.

Nominal Value of Share

:

Rs   10.00

g.

 

Major Share Holders

As At

14th Octomber 2011

:

Major Share Holders

No. of

Shares

Naratha  Ventures (Pvt) Ltd

39,200,000

Cherubium (Pvt) Ltd

40,800,000

h.

Auditors

:

Wickramasinghe Dayananda And Company

i.

Company Secretaries

:

Varners International (Pvt) Ltd

j.

Bankers

:

Not Disclosed

 

 

FINANCIAL DETAILS

 

- Most recent available Financial Information

 

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with   Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

 

CURRENT INVESTIGATION

                                                                 

                                                                                Company Logo

 

·         History.

 

The Subject Company is NARATHA AGRO INDUSTRIES (PVT) LTD is a Private Limited Liability Company incorporated on 03rd Ferbuary 2004 under registration number N (PVS) 36533. then the company was re-registered on 22nd Octomber  under registration number PV 8311.

 

·         Location.

 

              The Subject Company is located at the client given address # 400, Nugape Uswetakeyawa 

 

·         Operational Details.

 

General

The subject company primary line of business is manufacture of Vanaspati (Vegetable Ghee), Bakery Shortening, Margarine, Fractionated Specialty Fat, RBD Palm Olein, Sunflower Oil, RBD Coconut Oil, Palm Kernel Olein.

 

Products

Vanaspali, Margarine Shortening, Fractionated Specialty Fat, RBD Palm Olein, Sunflower Oil, RBD Coconut Oil, Palm Kernel Olein

 

Countries

USA, India

 

No of Employees

             Not Disclosed

 

Directors’ Details

 

01)

Name

Narayana Narayana  Mudiyanselage Manjula

ID Number

632442122 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

31st August 1963

Age

49 Years

 

02)

Name

Narayana Cheranika Nilakshi Geekiyana

ID Number

707893877 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

15th Octomber 1970

Age

42 years

 

03)

 

Name

Bandara Pohoramalage Gamani

ID Number

551400867 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

19th  May 1955

Age

57 years

 

·         Financial Data

 

The company has declined to provide information on its finances

 

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability is not required to make public disclosure of their annual financials.

              Therefore no financials are available for this entity

 

 

·         Trade references

              The subject company provided the following trade references:

 

 

·         Credit Recommendations

 

Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.78

UK Pound

1

Rs.86.75

Euro

1

Rs.68.32

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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 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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.