|
Report Date : |
29.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED TANNINS |
|
|
|
|
Registered
Office : |
Flat 4, 11/23 Vepery High Road, Periamet, Chennai – 600003, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
1982 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: |
0488045398 |
|
|
|
|
CST No.: |
787936/03/04/03 |
|
|
|
|
TIN No.: |
33310422162 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFPA6463L |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Exporters of Finished Leather/ Footwear Components and Importers of
Wattle Extract. |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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 |
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 PARTED BY
|
Name : |
Mr. K O Arif Ahmed |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9500023086 |
|
Date : |
28.08.2012 |
LOCATIONS
|
Registered Office : |
Flat 4, 11/23
Vepery High Road, Periamet, Chennai –
600003, Tamilnadu, India |
|
Tel. No.: |
91-44-25612273/ 25615427/ 25610775 |
|
Mobile No.: |
91-9500023086 (Mr. Arif Ahmed) |
|
Fax No.: |
91-44-25612273 |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. K O Arif Ahmed |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Exporters of Finished Leather/ Footwear Components and Importers of
Wattle Extract. |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Leather |
|
Countries : |
·
Spain ·
Italy ·
Germany ·
Hong Kong ·
China |
|
|
|
|
Imports : |
|
|
Products : |
·
Wattle Extract |
|
Countries : |
·
Brazil |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit (30 days) |
|
|
|
|
Purchasing : |
L/C and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
5 (Approximately) |
|
|
|
|
Bankers : |
·
Punjab National Bank, Periamet, Chennai –
600003, Tamilnadu, India ·
Canara Bank, Periamet, Chennai – 600003,
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) |
|
|
50.000 |
|
|
|
|
|
The above information has been parted by Mr. K O Arif Ahmed
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry
Records.
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 |
No |
|
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 1982 by
Mr. K O Arif Ahmed. They are importers and exporters. They are also
manufacturers of Wallets, handbags, gents pouch, ladies pouch, card holder,
file folder, portfolio, passport holders, travel bags, cow lining, goat lining
and all types of leather footwear components and finished leather mainly for
footwear. Now as far as exports are concerned they export finished leather,
footwear components, all types of wallets and bags. On the import side they are
importers of Brazilian wattle extract and distributors to the whole of India.
Now, the head office is situated in the Mecca
of the Tamilnadu Leather Industry - Periamet. About 5 people work here. Their
building is next to the famous leather center - The Council for leather exports
office - the Government body that oversees the export and import of leather in
the country. Mr. Arif Ahmed is the main person who looks after exports. Mr.
Pervez Ahmed his brother co-ordinates production.
First let us see their production and export activities. They do not have a factory of their own but get their job work done from
Ambur and Vaniyambai.
Some of the job workers who work for Subject
in Ambur:
1. Azhar Leathers 6, Periyavarikkam, Thuthipet
Post. 635802. Ambur
Tel. 91-44-41742450/ 40
2. Jabeen
Javeed and Comany
Venkatasamuthiram Road, Thuthipet. 635811.
Ambur
3. Shalimar
Tanning Company
No 72, M C Road, M C Road, Ambur – 635802
The importance of Ambur as a tanning center
Ambur which is situated about 175 kms from
Chennai, and is a well known center for leather. There are quite a large number
of tanneries where E.I tanned goat and sheep skins, S/C and F/C finished
leather etc is produced. Some of tanneries are very big and modern with all the
necessary machinery and infrastructure where high class finished leathers meant
for shoes, garments, bags are produced and exported or handed over to other
exporters. Importers from different countries have close links with Ambur based
tanners and exporters and do big contracts as goat and cow leathers are
available in plenty here with international standards. This town has also made
a name for its well equipped and well infra structured modern shoe factories
where high standard world class foot wears are made and exported to many
countries including the USA, UK, Italy, Germany, Portugal, Switzerland and
Spain. Another centre famous for the leather industry is Vaniyambadi. Here
again there are quite a large number of tanneries where items such as E.I.
tanned goat and sheep skins, S/C and F/C finished leathers are made, locally
supplied and exported. There are also innumerable job tanners here. It is the
best place for dealing in sheep items. They can say that it is the leather
tanning centre with the largest number of tanneries in Tamil Nadu. No other
centre has as many tanneries as Vaniyambadi does. Vaniyambadi is just about 30
minutes drive from Ambur. While there are more tanneries in Vaniyambadi, there
are more shoe units in Ambur which are supplying to the best shoe companies
abroad. These two neighboring centers are playing an important role in the
development of the leather industry in the country. Subject give the design and
the raw materials that is wet blue skin to the tanners here and give the
specifications for the job work. The raw materials are turned into finished
leather suitable for foot wear components here.
Given below is a small introduction to how important Tamilnadu is to the
leather industry of India.
Subject is a member of the AISHTMA.
The All India Skin and Hide Tanners and
Merchants Association, "Leather Centre",
43/53, Raja Muthiah Road, Periamet, Chennai -
600003, Tamilnadu, India
Tel. No. 91-44-25610636/ 25615247
Fax No. 91-44-25615292
E-mail: aishtma@vsnl.com
Website: http://www.aishtma.com
According to Aishtma Tamilnadu is in the
forefront in leather with an annual production of more than 1.2 billion sq.ft. of
finished leather. It is about 60% share in total finished leather production of
their country and 45% share in total export from India. There are about 750
tanneries in Tamilnadu and the raw material processed per day is 500-1000 tons
and annual turnover more that Rs.100000.000 Millions. The number of operations
CETPs is 16 catering to 630 tanneries, the number of ETPs is 94 and there are
more that 56 RO plants in Tamilnadu. No Tannery operates without access to any
Effluent Treatment plant and 100% connectivity to pollution control devices is
a specialty of Tamilnadu. There are 497 leather products units in Tamilnadu
producing about 59 million pairs of full shoes, 27 million pairs of shoe
uppers, 7.1 million pieces of leather garments and 29.5 million pieces of
leather goods. The quality of various leathers being produced here is of high
standard and comparable with that of any advanced country. Consequently the
state of Tamilnadu once popular for E.I. Tanned hides and skins throughout the
world particularly in countries like the USA, the UK, Italy, West Germany,
France and Papen is now popular for leather and leather products in these and
many other countries. While Chennai, Ambur, Vaniyambadi, Perrambut, Ranipet,
Trichy, Erode and Dindigul are the main centers for leather, Chennai, Ambur and
Ranipet are the major hub for leather products such as leather shoes, garments
and goods. Their country has earned laurels as a good and reliable supplier of
leather and leather products in the world market.
Now let us see their import activities - They are importers of Brazilian Wattle extract. They wattle extract is
supplied to many tanners, leather manufacturers in South India. They import
from the following companies:
TANAC S.A
Rue Torbjorn Weibull, 199
Post Code: 95780-000
Montenegro - RS - Brazil
Phone: +55 (51) 3632-4055
Fax: +55 (51) 3632-2863 / 3632-2499
TANAC Tannin Unit is situated in Montenegro, Rio Grande Do Sul. At this unit vegetable tannin extracts for the leather industry, flocculants / coagulants and auxiliaries of flocculation for drinking water treatment and of effluents, suspension agents, dispersants and fludificants for mud drilling and adhesives for the wood industry are produced. TANAC exports about 85% of its production which is 30000 tons annually to 70 countries distributed in 5 continents. In the same way that it conducts its forest management activities, also in the tannin production process,
• Seta S/A Extrativa Tanino De acacia
Estancia Velha - RS
Address: Av. 1° de Maio, 1109 Acesso Av. 7 de setembro Bairro das Rosas CEP: 93600-000
1941 - Tanneries added the acacia bark directly in
the paddles with hides
1941 - November 14: Founding of "Sociedade
Extrativa Tanino de Acacia Ltda. - SETA", first enterprise to extract the
acacia tannin in America
1946 - May 16: Founding of the Taquari (RS) branch
1987 - June 30: Creation of SETA Quimica aimed at the
development, production and commercialization of leather chemical specialties
1998 - Constitution of the joint-venture with Mitsubishi
Corporation: MITA, which produces woodchips for the production of cellulose
1999 - March 18: Foundation of Acquaquimica Ltda.,
productive unit of tannin-based flocculants and clarifiers
1999 - June: Obtained the ISO 9001 Certification,
under SETA's Quality Program
2001 - Agreement signed with the Universidad de
Santa Maria to develop investigation projects in the production of the Black
Wattle
2003 - SETA Quimica and Acquaquimica are certified
with ISO 9001 version 2000 in, the production and commercialization of
vegetable tannins and chemical specialties for the leather industry, and,
respectively, in development, production and commercialization of tannin-based
chemical specialties
2004 - Obtained the Forest Stewardship Council -
FSC certification
2009 - Concentration of the tannin and chemical
activities at the Estancia Velha plant
2011 - The company maintains the quality
certificates and continues to grow with great respect of life and the
environment
Seta is the company from which Subject import
a very large quantity of wattle extract. The firm imports about 10000 tons
annually from this company.
Turnover and other details:
The firm employs about 5 people at the office.
Mr. Arif Ahmed looks after the administration and sales and his brother Mr.
Pervez Ahmed looks after production and shipment all other production
activities, tanning activities are outsourced to firms/ companies in Ambur.
Their turnover is about Rs.50.000 Millions and their bankers are Punjab
National bank and Canara Bank., Chennai - 600003, Tamilnadu, India
Though the firm has made a very good name is
very reputed and old, there is no way to assess the financial strength of the
firm correctly. Caution advised in all financial transactions with them. Orders
may be placed against LCs or documents may be drawn thru bank.
A medium sized, old reputed firm.
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.55.78 |
|
|
1 |
Rs.88.04 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.