|
Report Date : |
31.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
B. G. JAYALAKSHMI TRADERS |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.01.1979 |
|
|
|
|
Com. Reg. No.: |
3394434082 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: |
0409001716 |
|
|
|
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PAN No.: [Permanent Account No.] |
AANPS 6879 G |
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|
Legal Form : |
Partnership concern with an unlimited liability of the partner |
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|
Line of Business
: |
Manufacturer and Importers of coated art paper and paper board, all kinds
of paper, paper board and paper products, all kinds of plastic films for
printing and packaging industries, general stationery products |
|
|
|
|
No. of Employees
: |
29 (Approximately) [6 In Office and 23 In Factory] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 |
|
|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are reported as decent. Business is active. Payment terms
are reported as usually correct and as per commitment. 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 |
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. B. G. S. Rajah |
|
Designation : |
Partner |
|
Contact No.: |
91-9080044660 |
|
Date : |
28.12.2012 |
LOCATIONS
|
Registered Office : |
19 Goodanagaram Road, Santhapet, Gudiyatham, Vellore – 632602, Tamil
Nadu, India |
|
Tel. No.: |
91-4171-222115 |
|
Mobile No.: |
91-9080044660 (Mr. B. G. S. Rajah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
6500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
51 Goodanagaram Road, Gudiyatham, Vellore – 632602, Tamil Nadu, India |
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. B. G. Sainathan |
|
Designation : |
Partner |
|
Date of Birth/Age : |
64 Years |
|
Qualification : |
B.A |
|
|
|
|
Name : |
Mr. B. G. S. Rajah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
MBA |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importers of coated art paper and paper board, all
kinds of paper, paper board and paper products, all kinds of plastic films for
printing and packaging industries, general stationery products |
|
|
|
|
Products : |
·
Coated Art Paper and Paper Board ·
All Kinds of Paper, Paper Board and Paper
Products ·
All Kinds of Plastic Films for Printing and
Packaging Industries ·
General Stationery Products |
|
|
|
|
Imports : |
|
|
Products : |
Paper and Paper Boards |
|
Countries : |
·
USA ·
Russia ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (90 days) |
|
|
|
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Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
|
|
|
|
No. of Employees : |
29 (Approximately) [6 In Office and 23 In Factory] |
|
|
|
|
Bankers : |
Tamilnadu Mercantile Bank, 105 Thalayatham Road, Gudiyatham, Vellore –
632602, Tamil Nadu, India |
|
|
|
|
Facilities : |
Rs. 10.000 Millions (From Tamilnadu Mercantile Bank) |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raghavan Associates Chartered Accountants |
|
Address : |
Chennai, Tamil Nadu, India |
|
|
|
|
Sister Concern : |
Praswar papers Address: Gudiyatham,
Tamil Nadu, India Line of
Business: Importers or paper and manufacturers of disposable paper products Sowmiya Enterprises Address: Gudiyatham,
Tamil Nadu, India Line of
Business: Importers of chemicals used in the paper industry. |
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 |
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|
|
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|
The above information has been parted by Mr. B. G. S. Rajah
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 |
Yes |
|
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 years |
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 partnership firm started in the year 1979. The partners of the firm are:
· Mr. B. G. Sainathan
· Mr. B. G. S. Rajah
A word about Gudiyatham, Vellore district
Gudiyatham is about 172 km west of Chennai and 165 km south east of Bangalore. The town is located near the border of Andhra Pradesh state. It has 500 Village around it.
· Nearest Airport: Vellore and Chennai
· Nearest Seaport: Chennai
· Nearest Railway Stations: Gudiyatham and Ambur
· Nearest Railway Junction: Katpadi
The Vellore District is one of the most vital and vibrant Districts in terms of industrial development in the State. The Vellore District has a dominant presence in the Leather and leather based industries. Vellore District accounts for more than 37% of the county's export leather and leather related products such as finished leather, shoe uppers, shoes, garments, gloves and so on. The paper industry is catching up in Vellore and it has many units that manufacture disposable paper cups, paper plates and other disposable paper products. The Government of Tamilnadu provides all possible investment subsidies and infrastructural support in the form of setting up industrial estates and common effluent treatment plant. Thus this District share of the leather, paper, and textile market in the years to come is ensured. The district provides enough scope for the development and growth of industries engaged in chemicals, paper, food processing, sugar, jaggery manufacturing, synthetic fibers, fertilizers manufacturing, textiles, garments etc. The proximity to Chennai, the state capital, good transport with well connected road, availability of power, raw materials and abundant cheap labor are the contributing factors for the industrial development in Vellore.
THE FIRM
The firm in engaged in the import of paper for printing and manufacture of disposable paper products. They are a service oriented organization involved in marketing, trading a diverse range of products to facilitate the ever-changing climate of the paper industry and to provide innovative and cost efficient solutions for their clients. In fact their paper distribution network in all over India along with their sales office in Gudiyatham, Vellore Dist has evolved to serve every pre press, on press and post press need of all printers. They employ professionals who provide industry expertise and local market awareness from customers all across India. Their product line includes a wide range of internationally quality coated
· fine art papers
· paper board
· art paper boards
· ivory boards and
· Plastic films for printing and packaging industries
The impeccable success of the firm is attributed to continued updating and introductions of new materials for pre press and packaging activities. Competitive pricing and on time delivery are their priorities. The firm operates with about 29 staff comprising of:
· Warehouse personnel
· Quality controllers'
· Sales and marketing executives
· Procuring agents
TRADE REFERENCES
· Ms. Jeeva Printer, Vijayawada
· Ms. K. P. N. Printer, Gudiyatham
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. 88.40 |
|
Euro |
1 |
Rs. 72.63 |
INFORMATION DETAILS
|
Report Prepared by
: |
UDS |
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 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.