|
Report Date : |
06.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VENUS ENTERPRISES |
|
|
|
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Registered
Office : |
No.66, |
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
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|
Year of
Establishment : |
2002 |
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|
|
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Capital
Investment / Paid-up Capital : |
Not Available |
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|
|
|
Legal Form : |
Sole Proprietory Concern |
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|
|
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Line of Business
: |
Dealers of all types of plywood and laminates. |
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|
|
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No. of Employees
: |
10 (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 |
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|
|
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Litigation : |
Clear |
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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 and
as per commitments. The concern can
be considered normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. A.R. Ravi |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9003044055 |
|
Date : |
05.06.2012 |
LOCATIONS
|
Registered Office/ Warehouse : |
No.66, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9003044055 (Mr. A.R. Ravi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. A.R. Ravi |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Dealers of all types of plywood and laminates. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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|
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Axis Bank, Choolai Branch, Chennai – 600 112, |
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|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
Not Available |
|
|
|
|
Sister Concerns : |
Venus Décor A M Traders Sri Lakshmi
Narsimha Ply lam Address: No.66, Line of Business: Dealers of all types of plywood and laminates. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
30.000 |
27.500 |
25.000 |
|
|
|
|
|
Estimate for 2012-2013 – they are in the process of shifting and
consolidating, so they have sent home a lot of employees and shall recruit shortly.
They are also in the process of starting antique wood supply from August 2012.
So this year is going to be very erratic for them. They however expect a
turnover of about Rs.30.000 millions.
The above information has been parted by Mr. A.R. Ravi (Proprietor).
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
|
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 three years |
Yes |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation for
coming financial year |
Yes |
|
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) |
No |
|
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 |
PROFILE:
This is a proprietorship firm. The proprietor is Mr. A.R. Ravi. The firm
was started in the year 2002. Even before the registration of the firm Mr. Ravi
was engaged in the timber business. Mr. Ravi has been dealing in laminates and
ply woods for the past 10 years. In fact the family itself in engaged in the
plywood business with the following firms.
1. Venus Enterprises - Mr. A.R. Ravi is the proprietor
2. Venus Decor - in the name of his wife
3. AM Traders - in the name of his brother
4. Sri Lakshmi Narasimha Plylam - yet to be
started
The firm is one of the big names in Choolai for Greelam laminates. They
are dealers for Greenlam prelam MDF.
Greenply Industries Limited, Decorative Division 1501-1505, Narain
Manzil, 23, Barakhamba Road, New Delhi -
110 001, India
They also deal in the following brands:
Uniplay, Huntsman, Swastik Plyboard, Canfor, ABRO, Sundex, Greenply,
Green lam, Alstrong, Fineply, Formica, Sharongold, AIS, 3M, Century ply
They sell their products to all the furniture manufacturing
firms/companies/ individual carpenters and furniture makers in and around
Chennai, Kanchipuram, Tiruvallur District. They do not have any export / import
activities. They employ about 10 people. Being in the market for over 10 years
they have made a good name for themselves in Choolai as a reliable dealer for
pre lam boards and have a steady stream of customers. They have recently
acquired a building of their own in Choolai high road and are in the process of
shifting and setting down there. Choolai is the mecca of the plywood/laminates
industry in Chennai. After moving into their own building they want to
consolidate and organize their product range and sales thru Sri Lakshmi
Narasimha Ply lam.
Now, they have plans to expand their operations in
Associate Group, Associate House,
The products of Star Panels, the panel product division of this concern
is of much interest to them. Star products, offers a range of materials for the
interior decorators and Venus is interested to get their dealership. In fact
Associate group has already sanctioned them their dealership.
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.55.56 |
|
|
1 |
Rs.85.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.