MIRA
INFORM REPORT
|
Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
R. G. BROTHERS |
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Registered Office : |
# 103 2/1, Mahavidyalaya Mawatha, |
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Country : |
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Financials (as on) : |
2009 |
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Date of Incorporation : |
02.11.2005 |
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Com. Reg. No.: |
WP 63712 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Importers and Distributors of Consumer food products. |
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No. of Employees : |
75 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
GENERAL
- Basic information at a glance
|
Name of Subject of Inquiry |
: |
R. G. BROTHERS |
|
Legal Form & Status |
: |
Partnership Concern with an unlimited liability
of the partners |
|
Partner |
: |
Ponnampalam Ramanathan |
|
Primary Line of Business |
: |
Importers and
Distributors of Consumer food products. |
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Head Office |
: |
# 103
2/1, Mahavidyalaya Mawatha, Colombo
13, Sri
Lanka Mobile
No: (00 94 77) 768 4067 - Mr. P. Ramanathan Tel
No: (00 94 11) 238 2572; 436 2541 Fax
No: (00 94 11) 242 4062 Email:
rg@hotmail.com
Location:
Owned |
|
Sales Office |
: |
#
81, 5th Cross Street, Colombo 11, Sri Lanka |
|
: |
#
151, 04th Cross Street, Colombo 11, Sri Lanka |
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|
: |
#
78, 04th Cross Street, Colombo 11, Sri Lanka |
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No. of Employees |
: |
75
Approximately |
COMPANY DETAILS
-
Registration and Shareholder Details
|
Registration No |
: |
WP 63712 |
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Date of Registration |
: |
02nd November 2005 |
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Registered Office |
: |
# 103, 2/1, Maha Vidyalaya Mawatha, Colombo
13, Sri Lanka |
|
Partner |
: |
· Ponnampalam Ramanathan · Gokunan · Gokubirian |
|
Auditors |
: |
Joseph &
Company |
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Company Secretaries |
: |
Not Applicable |
|
Bankers |
: |
· Sampath Bank, Hatton National bank; MCB Bank · Pan Asia Banking Corporation PLC |
|
Customer |
: |
End User |
Information parted by
(General Details)
Name :
Mr. Ramanathan
Designation :
Partner
Date :
14.07.2012
FINANCIAL DETAILS
- Most
recent available Financial Information
|
|
2009 |
2008 |
||
|
a. |
Revenue |
: |
1,241,994,085.00 |
1,054,391,371.00 |
|
b. |
Cost of Sales |
: |
(1,210,944,233.00) |
(1,028,137,026.00) |
|
c. |
Gross Profit |
: |
31,049,852.00 |
26,254,345.00 |
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d. |
Other Income |
: |
- |
- |
|
e. |
Administration
Cost |
: |
(4,661,197.00) |
(3,485,267.00) |
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f. |
Distribution
Cost |
: |
(3,113,640.00) |
(2,695,116.00) |
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g. |
Finance &
Other Cost |
: |
- |
- |
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h. |
Profit / (Loss) from operation |
: |
23,275,015.00 |
20,073,962.00 |
|
i. |
Finance Charges |
: |
(12,909,050.80) |
(12,810,076.00) |
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j. |
Net Profit / (Loss) before Tax: |
: |
10,365,964.20 |
7,263,886.00 |
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2009 |
2008 |
||
|
a) |
Non-current Assets |
: |
74,985.00 |
74,985.00 |
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b) |
Current Assets |
: |
37,557,334.51 |
66,782,363.00 |
|
c) |
Non Current Liabilities |
: |
- |
- |
|
d) |
Current Liabilities |
: |
55,989,281.00 |
43,047,623.00 |
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e) |
Total Liabilities |
: |
55,989,281.00 |
43,047,623.00 |
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f) |
Total Assets |
: |
66,857,347.00 |
33,443,644.00 |
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g) |
Net Worth |
: |
10,868,066.00 |
(9,603,979.00) |
CURRENT INVESTIGATION
·
History.
The Subject Company R. G. BROTHERS is a Proprietorship Company incorporated on 02nd November 2005 under
registration no. WP 63712. The
Proprietor of the subject company is Mr. Ponnampalam Ramanathan.
·
Location.
The client given address # 103 2/1, Maha Vidyalaya Mawatha, Colombo
13, Sri Lanka,
is the Main Office
/ Registered office of the subject company.
The Sales Offices are located at:
# 151, 04th
Cross Street, Colombo 11, Sri Lanka, # 78, 04th Cross Street,
Colombo 11, and Sri Lanka, # 81, 5th Cross Street,
Colombo 11, Sri Lanka, the main business area in
the city.
·
Operational
Details.
General
The subject company’ primary
line of business is an Import and
Wholesale/retail Distributors of consumer durables. Their business places
are situated in the busiest business place in the city of Colombo where all
types of general merchants are operating.
Products
Chickpeas,
Chillies, Lentils, VSP, Canned Fish, Canned Dhal, Mustard, Garlic, Etc…
Food items stocked inside the shop
Importing
Countries
India, Malaysia,
Thailand, Singapore, China, Canada, USA, Turkey, Australia etc…
No of Employees
Approximately 70 in the
permanent cadre and casual labour is used for loading and unloading
of shipments and
other services which is approx.20 -50.
·
Financial Data
The financial
information received from the Subject Company is included in this report.
Financial data for 2010/2011 is not available.
·
General Comments
When the Subject Company was contacted, they were very polite in
providing all basic and financial information given in this report.
·
Trade references
The subject
company has provided a list of its importing companies as trade
references and
are attached on
Pages 10- 13 of this report
·
Credit
Recommendations:
No computerised data bases exist to make
checks whether the partners or the company has any legal action or lawsuit
initiated against any of them but informal (but not in-depth) checks do not
indicate any such cases in the public knowledge.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.65 |
|
|
1 |
Rs.85.89 |
|
Euro |
1 |
Rs.67.88 |
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 |
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-- |
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.