1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MADAN IMPEX |
Principal Name 1 |
Mr. Madan Lal Jain |
|
Status |
Satisfactory |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
4 Thambu Naicken
Street, Sowcarpet, Chennai – 600079, Tamilnadu, India |
||
|
Established Date |
1989 |
SIC Code |
-- |
|
Telephone# |
91-44-23468311 |
Business Style 1 |
Importer |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Not Available |
Product Name 1 |
Paper |
|
# of employees |
5 (Approximately) |
Product Name 2 |
Paper Boards |
|
Paid up capital |
Not Divulged |
Product Name 3 |
-- |
|
Shareholders |
Not Available |
Banking |
Indian Overseas Bank |
|
Public Limited Corp. |
NO |
Business Period |
23 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
30,000,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
16.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MADAN IMPEX |
|
|
|
|
Registered
Office : |
4 Thambu Naicken Street, Sowcarpet, Chennai – 600079, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of Establishment
: |
1989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Importer of Paper, Paper Boards and Local Supplier. |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having satisfactory
track record. Trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct and as per commitments. The concern can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High 4 |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Madan Lal Jain |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9540443400 |
|
Date : |
09.08.2012 |
LOCATIONS
|
Registered Office/ Factory : |
4 Thambu Naicken Street, Sowcarpet, Chennai – 600079, Tamilnadu, India
|
|
Tel. No.: |
91-44-23468311 |
|
Mobile No.: |
91-9540443400 (Mr. Madan Lal Jain) |
|
Fax No.: |
Not Available |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Madan Lal Jain |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Importer of Paper, Paper Boards and Local Supplier. |
|
|
|
|
Imports : |
|
|
Products : |
·
Paper |
|
Countries : |
·
China ·
Germany ·
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
|
|
|
|
Purchasing : |
L/C and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesaler, Retailers and End Users |
|
|
|
|
No. of Employees : |
5 (Approximately) |
|
|
|
|
Bankers : |
Indian Overseas Bank, Chennai – 600001, Tamilnadu, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
30.000 |
|
|
|
|
|
The above information has been denied by Mr. Madan Lal Jain
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
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 one year |
Yes |
|
12] |
Profitability for last one year |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
PROFILE:
This is a proprietorship firm started in the
year 1989 by Mr. Madan Lai Jain. They are importers of paper. They import paper
from Germany, China and Korea and supply them locally. They do not have any export
activities. They are only local suppliers and have made a name for themselves
in the wholesale market of Chennai. One has to mention here that they
are located at a stone's throw from the port of Chennai. Their location in
Thambu Naicken Street, near Sowcarpet is ideally suited since a lot of paper
merchants operate from that area. As you know Broadway / Sowcarpet is the Mecca
of the wholesale trade of South India and sales here is by the containers and
not by any other measurement of the product. They have been in the market for
over 10 years now and have made a very good name for themselves and have a very
good reputation in the paper industry. They sell the paper imported to the
printing industry. They employ about 5 people and touch a turnover of about
Rs.30.000 Millions per year. Their bankers are Indian Overseas Bank Chennai
600001. Their main strength is the repeat orders they get from the same
customers who deal with them for over a decade now. Given below is a short
description of the companies they deal with:
1.
Sappi Paper Mills, Germany
Sappi Alfeld GmbH
1 Muhlenmasch 31061
Alfeld (Leine), Germany
Sappi is a global company focused on providing
chemical cellulose, paper-pulp and paper based solutions to its direct and indirect
customer base across more than 100 countries. The chemical cellulose products
are used worldwide by converters to create viscose fiber for clothing and
textiles, acetate tow, pharmaceutical products as well as a wide range of
consumer products. Their market leading range of paper products includes coated
fine papers used by printers, publishers and corporate end users in the
production of books, brochures, magazines, catalogues, direct mail and many
other print applications, casting release papers used by suppliers to the
fashion, textiles, automobile and household industries and newsprint, uncoated
graphic and business papers and premium quality packaging papers and tissue
products in the Southern Africa region.
• 14,900
employees worldwide
• Paper
production capacity of 6 million tons a year
• World's
largest manufacturer of chemical cellulose with production capacity of 800,000
tons a year increasing to 1.3 million tons in 2013
• Sales
in over 100 countries
• Manufacturing
operations on four continents
• Paper
pulp production of 3.4 million tons a year
The two main products of this company they
import are Sappi Galerie Art and Magno Paper. The Sappi Galerie Art range is
your canvas, helping you elevate your print into an art form. Sappi Magno is the
world's favorite coated fine paper, trusted by all printers for over 2 decades.
2. Jiangxi chenming paper Company, Limited
Changbei
Nanchang
Jiangxi Province
China 330013
Phone: 0086-791-3951820
Fax: 0086-791-395 1953
Jiangxi Cheming Paper Company Limited, with a
total investment of US$ 487 million, has a paper making line with an annual
capacity of 350,000 tons of paper. The technology and equipments of the company
are state of the arts. The paper machines are imported from the Finnish
company, Metso. The designed operating speed of the paper machines if 2000m/m
with a paper width of 7800mm. The core products of the company are LWC and
light paper, which have a top market share in China domestic market. The
products are also exported to more than twenty countries and regions around the
world, including the United States, Japan and Australia.
3. Moo rim Paper Company Limited
Seoul
Korea
Moorim Paper Company Limited operates in the
Paper mills sector. MOORIM PAPER COMPANY LIMITED is a Korea-based company
engaged in the manufacture of paper products. The Company produces uncoated
papers, which are used for books, note books and diaries; coated papers, which
are used for books, magazines, catalogues, brochures, calendars, text books,
shopping bags and labels on beverages containers, and board papers, which are
used for printing materials, such as catalogues, brochures, calendars and books
for children. The Company also produces light-weight coated (LWC) papers for
various prints, as well as raw materials.
4. NTC International
1002, Sinsong Bldg, 25-4,
Yeoido-Dong, Yeongdeungpo-Gu
Seoul
South Korea-150-878
NTC is a paper merchant in South Korea. They
source their materials from a variety of countries like China, Taiwan, Indonesia
and South Korea. They deal in wood free, coated paper, duplex board (white and
grey) and FBB etc. The company was founded in 2004 with annual sales of about
100 million US $. The company exports of Bangladesh, China, Hongkong, India,
Israel, Syria, and USA.
These are four main companies that the firm
imports from. They have their own godowns in Chennai where they store their
merchandise. They bill in bulk to printers and publishers immediately. Their
orders are based on their client's requirements and hence there is not much
storage time for the goods that they order.
Many other relatives of Mr. Madan lal Jain are
all in the paper business which makes it easy for them for intra trading among
their relatives and friends.
A medium sized, reputed trader. There is no
way to assess the financial strength of the firm. They claim that the office is
their own and that they have more than two godowns owned by them in Sowcarpet
Area. Caution advised in all financial dealings with them. Goods may be supplied
against advances or documents drawn through bank. They claim that they do not
have any loan outstanding with any bank and all their dealings are against
cash.
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.55.64 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.68.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--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 |
|
44 |
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.