|
Report Date : |
28.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
STUDIO INFINITI |
|
|
|
|
Registered
Office : |
Chaitanya
Centre" 21/1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
1995 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Importers and Dealers for all types of tiles, Bathroom Ware and
Specialty Construction Items. |
|
|
|
|
No. of Employees
: |
50(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 a well established proprietory concern having a
satisfactory track record. Trade relations are reported to be fair. Business
is active. Payments are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The concern can be considered for normal business dealing at usual
trade terms and condition. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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. Balaji |
|
Designation : |
Office Assistant |
|
Contact No.: |
91-44-28334876 |
|
Date : |
27.12.2012 |
LOCATIONS
|
Registered Office : |
Chaitanya
Centre" 21/1, Khader Nawaz Khan Road, Chennai - 600006, Tamilnadu, India |
|
Tel. No.: |
91-44-30286661/2/3/4/ 28334876/77 / 30286660 |
|
Fax No.: |
91-44-30286660 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Show Room : |
Located at Chennai (Three Show Room) |
SOLE PROPRIETOR
|
Name : |
Mr. Muralidharan Swaminathan |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Balaji |
|
Designation : |
Office Assistant |
BUSINESS DETAILS
|
Line of Business : |
Importers and Dealers for all types of tiles, Bathroom Ware and
Specialty Construction Items. |
|
|
|
|
Agencies Held : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 Days, 60 Days and 90 Days) |
|
|
|
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Purchasing : |
L/C / Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
HDFC Bank, Chennai, 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) |
|
|
2.500 |
The above information has been parted by Mr. Balaji
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 |
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 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 |
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 stared in the year 1995 by Mr. Muralidharan Swaminathan. The firm is very reputed in Chennai and is engaged in the sales of specialized construction materials and tiles. They are dealers for about 15 large companies and sell their products. The firm sells the most latest and high-tech construction products and tiles.
A word about the
proprietor Mr. Muralidharan Swaminathan:
A product of the Indian Institute of Science Mr. Muralidharan needs no introduction in Chennai at all. He is a versatile person, abundantly talented, artistic by nature and has a good foundation of the engineering subjects. He serves on the following boards:
Mr. Murali is the President of Indian Institute of Management, Ahmedabad Alumini Association a coveted post in the engineering fraternity. The association is 31000 plus strong community of MM graduates and a community that has earned a reputation for excellence and leadership in the field of management. .
January 1980 to Present
Bird watching, visits to forest to check on flora and fauna. To spread message on eco conservation etc
Mr. Muralidharan's
qualification:
Indian Institute of Science
Bachelor of Engineering (B.E.), Electrical and Electronics Engineering
1973-1976
Madura College
1970-1973
MM
Ahmedabad - Post Graduate Diploma in Management
MURALIDHARAN SWAMINATHAN'S
ADDITIONAL INFORMATION
Groups and Associations:
And
so Studio infiniti has as its head a versatile person whose impeccable
qualifications both in the field of engineering and fine arts blend to create
an innovative showroom for tiles in Chennai.
The
firm has dealership from top notch global leaders for the following products
and imports them or procures them and sells them in the domestic market:
Mosaics
Tiles
Sanitary
wares
Tap
wares
Public
lighting
Switches
Led
Lightings
Iron
Mongeries
Drainage
systems
Mosaics - The firm deals in the
following brands of mosaics
Bizazza
Mosaics
Kenzai
Ceramics
Sai
Glass
Shai
Samrat styling
Ceramic
Designs Limited
Krazy
stones
Tiles - The firm deals in the
following tiles
Siddhi Ceramic Designers
Private Limited
Corporate
office - 21 Shaival, Opposite Rajpath Club, Sarkhej-Gandhinagar Highway,
Ahmedabad – 3800015,Gujarat, India
Raja
tiles - 7, Sector - 2, Noida - 201301 Uttar Pradesh. India
Arkay Glen rock
Indian
Office: "Meenatshi" Aswini Street, Duraisamy Nagar, Bye Pass Road,
Madurai - 625016.Tamilnadu, India
Phone:
+91-452-4354000 +91-452-4354000 FREE / 4355000 Fax: +91-452-4353085 Mobile :
+91-9894656755
Jainsons
Corporation, Madurai
GRAFFITI
INDIA PRIVATE LIMITED
6th
Floor, Rembrandt, C.G. Road, Ahmedabad – 380006, Gujarat, India
Ph.:
+91-79-26406811 12/3
Fax:
+91-79-26403298
Email:
info@graffititiles.com
Nitco Tiles
Nitco Marble Land
Plot No. 3, Station Road, Kanjur Marg (East)
Asian Granites
25 and 26, Venkatesa, Thayagaraya Nagar,
200 Ft Road, Villivakkam, Chennai - 600 049, Tamilnadu, India
Tel. Fax : 91-44-26506243
Cell: +91-9444010092 / 9566111795
Krazy Stones
E-210,
Road No.6, VKI Area, Jaipur - 302013, Rajasthan, India
Ambica
Tiles
Cramic
Designs
Floriana
concept Marble
Polymer
India
Ceramic
Designs
Drainage Systems
ACO Severin Ahlmann GmbH and Company KG Postfach 320, 24755 Rendsburg Am Ahlmannkai, 24782 Budelsdorf
Tel. +49 4331 354-0 +49 4331 354-0 FREE
Fax +49 4331 354-130
info(at)aco-online.de
Public
lighting for stadiums, Museums, play grounds, government grounds et
Schereder, Germany
Led
Lighting
Zubotel
lighting
Hettich
lighting
Switches
- Schneider Electric, Germany
Sanitary wares - the firm deals in
Parryware roca sanitary wares. They procure the same from Roca Bathroom
Products Private Limited a division of Parryware.
Roca
Bathroom Products Private Limited
Level
#3, Tower B, Building 10,
DLF
Cyber City,
Gurgaon
-122002 Haryana, India
Tel:+91-124-4278347 +91-124-4278347 FREE .
Fax:
+91-124-4278343/50
Studio
Infiniti is a resourceful and creative supplier for advanced building materials
in India. The new 3000 sq.ft. flagship showroom in Chennai provides the sales
team with adequate space to present the latest and ever changing palette of
kitchen technology. Apart from the Nungambakkam showroom the firm has 3 other
showrooms in Chennai. They are dealers for all types of specialized
construction materials and bathroom ware.
RELATED ACTIVITIES
Tiles
- Ceramic and Vitrified tiles (Graffiti, Siddhi, Restile, Asian, Somany,
Nitco), glass mosaic tiles (Bisazza), natural stones.
Also
dealers of Sanitary Wares (Roca, Toto, Moen, Aquaplus) Window Fashions (Hunter
Douglas), Ironmongery (Dline, CarIF), Carpets (Brintons), LED Lights (Schreder)
The
firm employs about 50 people and does a turnover of 250.000 Millions INR per
annum. The firm is in a very very
prestigous center of the city and caters to the elitist group. A high end
dealer who is well known and sought after for the innovative products he sells.
There is no way to assess the financial strength of the firm. However the firm is cash rich and from the
decor and the location of the showrooms they should be financially very sound.
Their bankers are HDFC Bank Chennai The firm does not have any export
activities. They have only import and domestic sales.
A
medium sized 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 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.54.85 |
|
|
1 |
Rs.88.55 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
|
--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 |
|
47 |
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.