|
Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
NIRMALA INTERNATIONAL S.A. |
|
|
|
|
Registered Office : |
Cdla Union y Progreso, Manzana D, Villa 26, Kennedy Norte, frente al C. C. San Marino - Guayaquil Guayas |
|
|
|
|
Country : |
Ecuador |
|
|
|
|
Date of Incorporation : |
16.06.2006 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Wood trading |
|
|
|
|
No. of Employees : |
7 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Ecuador |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
T A X :
0992468947001
NIRMALA INTERNATIONAL S.A.
Cdla Union y Progreso, Manzana D, Villa 26, Kennedy Norte, frente al C. C. San
Marino - Guayaquil
Guayas
ECUADOR
Telephone :
593-4-2289359
Fax : 593-4-2289359
E_Mail : indusco2006@yahoo.com
Started
: 2006
Total Employees
: 7
Payments
: Prompt
Subscribed Capital
: US$ 30.000.-
Authorized Capital
: US$ 30.000.-
Sic(s) : 5031
Line of Business: Wood trading
EVALUATION
Interpretation at the end of the report.
Dollars
Conservative value :
50.000
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 90 ]
Financial statements could not be obtained,
thus financial analysis can not be carried out
Other suppliers denied to bring references
trade
Detail of References
Old : 2 years
Last purchase : 08-2012
Terms : cash
Payment : Cash
Notes : cash
Credit : -
Owes : Does not Register
Due : Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly US$) 1.000
This company is NOT part of the ''White Listing'' of
the Internal Revenue
Service (IRS). It means that pending tax obligations should be settled up
in
the next months 3 months
At January the 20th, 2012 (latest available report), this company has NO delayed
payments at IESS (Ecuadorian Institute of Social Security)
Detail of Bank References
Bank
: Banco Pichincha C.A.
To
expire
: US$ 6.422,04
Total debt up to June 2012 is US$ 6.422,04
Nirmala International S.A., has no negative
references at the National Financial System
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2012 was US$ 6.259,74
Income tax corresponding to the last years:
Year 2011: USD 9.881
Year 2010: USD 9.832
Year 2009: USD 0
The main bank is:
- Banco Pichincha C.A.
Line of Business : Wood trading
The line of business registered at the Internal Revenue
Services(IRS) is: WOOD WHOLESALE AND RETAIL
Social objective registered at the Superintendency of
Companies is: Wood purchasing to its respective exploitation
Classification according to commercial activity:
Sic: 5031-0000 Lumber, plywood, and millwork
Sales
Sales are steady throughout the year
National sales territory
Exports to India.
According to the interviewee, the approximate monthly sales average is US$
40.000
Customers
Main customers are: Line of business' distributors,
exporters.
Purchases
Domestic purchases only
Main suppliers
- Contecon Guayaquil S.A.
- Mediterranean Shipping Company Del Ecuador Compania
Anonima (Emessea)
Employees: 7 employees
Location
- The administrative offices are located at Cdla
Union y Progreso, Manzana
D,
Villa 26, Kennedy Norte, frente al
C. C. San Marino Guayaquil Guayas,
Ecuador
Branches
Subject does not have any branch
Subject does not have any related company.
INSURANCES
Subject is not insured.
President
: Nathalal Garachh Bipinkumar TAX:0930888888
General Manager : Pravinkumar Chovativa Schilkumar TAX:0920069168
Nathalal Garachh Bipinkumar
T A
X
: 0930888888
Civil status : Married
Birth date : 23/06/1968
-India
Position :
President
Mercantile Register : Number 1250 of 23/01/2012
Pravinkumar Chovativa
Schilkumar
T A
X
: 0920069168
Civil status : Married
Birth date : 22/01/1977
-India
Position :
General Manager
Mercantile Register : Number 19435 of 26/10/2011
Legal
Structure : Stock Company
Constitution date : 16/06/2006
Authorization : Resolution Nº 3479
Notary
: N° 29, Guayaquil Guayas
Term of duration : 100 Year, ended on 16/06/2106
Legal Address : Guayaquil - Ecuador
Published in : Official Gazette
dated 16/06/2006
Current Subscribed Capital: US$ 30.000.-Divided to 30.000.- common shares
unique
series amounting US$ 1.-
Authorized Current Capital: US$ 30.000.-
Subscribed Initial Capital: US$ 800.-
Paid-in Initial Capital: US$ 200.-
Legal representation is held by General Manager President and.
Legal changes
By Resolution Nº 5161 on 15/09/2011, notary N° 20, Guayaquil Guayas, published
in the Official Gazette dated 19/09/2011, capital was increased: by USD
14.200,00
At the same date, there was a change in the social objective: This company
will be engaged in the wood purchasing to its respective exploitation.
Mr. Betsy Gonzalez, Accounting Assistant, declined financial
information as she is not authorized to provide it, however, submitted
general
information.
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in Ecuador
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
CREDIT
RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually used
in
the commercial credit evaluation.
The amounts are based on the assignment of risk percentages to the following
indicators: Trade references, number of employees, legal structures, data base
of protested bills, operations, insurances, variation of net
profit, net worth,
working capital and liquidity.
Macroeconomic Information
Interest Rate for the week
of
01/07/2012 - 31/07/2012
Ref. Active Rate for
Operations ( % ) 8,17
Ref. Passive Rate for
Operations ( % ) 4,53
Basic Rate of Central
Bank ( % ) 0,20
Legal
( %
) 8,17
Maximum
conventional
( % )
9,33
Inflation
Ratio
Yearly
Inflation
( %
) 5,09 Jul/2012
Monthly
Inflation ( %
) 0,26 Jul/2012
Accumulated
( %
) 2,67 Jul/2012
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.