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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ARUL APPALAM DEPOT |
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Registered
Office : |
3/43, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
1996 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
049400318 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Manufacturer and Exporter of Black Pepper Pappadom, Garlic Pappadom, Red
Chill Pappadom, Green Chili Pappadom, Jeera Pappadom |
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No. of Employees
: |
105 [In Office-5 and In Factory-100] (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and a well established partnership concern having
good track. Trade relations are reported as fair. Business is active.
Payments are reported to be regular 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Miss Vani |
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Designation : |
Office Staff |
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Contact No.: |
91-44-24922760 |
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Date : |
05.06.2012 |
LOCATIONS
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Registered Office : |
3/43, EVR Periyar Street, Gandhi Nagar, Palavakkam, Cehnnai-600041,
Tamilnadu, India |
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Tel. No.: |
91-44-24922760 / 24928055 |
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Fax No.: |
91-44-24925363 |
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E-Mail : |
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Website : |
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Factory : |
Padappai, Chennai, Tamilnadu, India |
PARTNERS
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Name : |
Mr. P K Chandran |
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Designation : |
Partner |
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Name : |
Mrs. Bargavi Chandran |
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Designation : |
Partner |
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Name : |
Mr. Sunish Chandran |
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Designation : |
Partner |
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Name : |
Mr. Subish Chandran |
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Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Miss Vani |
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Designation : |
Office Staff |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Black Pepper Pappadom, Garlic Pappadom,
Red Chill Pappadom, Green Chili Pappadom, Jeera Pappadom |
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Products : |
·
Black Pepper Pappadom ·
Garlic Pappadom ·
Red Chill Pappadom ·
Green Chili Pappadom ·
Jeera Pappadom |
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Exports : |
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Countries : |
·
UK ·
Australia ·
Canada ·
Malaysia ·
Singapore ·
Europe ·
USA |
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Terms : |
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Selling : |
L/C, Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
105 [In Office-5 and In Factory-100] (Approximately) |
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Bankers : |
Axis Bank, ECR Road, Kottivakkam, Chennai-600041, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
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Sister Concern : |
·
Arul Appalam
Private Limited Address: - 3/43, EVR Periyar Street, Gandhi Nagar, Palavakkam,
Cehnnai-600041, Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
320.000 |
270.000 |
250.000 |
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Expected Sales (2012-2013) : Rs. 330.000 Millions
The above information has been parted by Miss Vani.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
No |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
No |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
------ |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
No |
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16. Details of sister concerns |
Yes |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
Yes |
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20. Export / Import details |
Yes |
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21. Market information |
------ |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
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24. Banking facility details |
No |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
No |
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29. Last accounts filed at ROC |
No |
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30. Major Shareholders, if available |
No |
NOTE:
Company has started business in 1970 for proprietorship
firm has to changed partnership firm in 1996.
PROFILE
This is a
partnership firm. The partners are:
1. Mr. P K
Chandran
2. Mr. P C Sunish
(son of the first mentioned)
3. Mrs. Bargavi
Chandran (wife of the first mentioned)
4. Mr. P C Subish
(son of the first mentioned)
The firm was first
started as a proprietorship firm by Mr. P K Chandran of Kerala. Mr. Chandran
has Over 40 years experience in the field of appalam and papadams. He was an
office bearer in the Union of appalam manufacturers in Chennai and has won
several prestigious awards in recognition of his contribution to the industry.
Now, from 1970 when he first founded the firm he was looking after the firm
himself. In 1996 when his sons were old enough to help him in the business he
made this into a partnership firm with the above partners. This firm is solely
for the export business. Apart from this he also started a company under the
name Arul Appalam P Itd. This private limited company is solely' for the
domestic market. The factory of this firm is situated in Padappai, Chennai and
employs about 100 contract workers. Mr. P K Chandran himself oversees the
production of the appalams. The sales and administration office is situated in
Palavakkam and employs about 5 people. The secret of the ever increasing orders
for this firm is in its recipe for the products. The proportions, mixing of the
ingredients are all kept a secret and is directly done under the supervision of
Mr. P K Chandran.
Last year they had
a record turnover of 320.000 Millions INR. Their bankers are PNB, and Axis
Bank, Kottivakkam. They are only exporters under this name. They do not have
any imports or local sales.
A very reputed,
medium sized firm that is eying the domestic market for expansion. There is no
way to assess the financial strength of
the firm. Caution advised in all financial transactions with them.
They are active
members of the Federation of Indian Export Organizations, New Delhi. Their
registration number for small scale manufacturer /exporters is
RCM.No.SR/11812012-2013.
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. 56.05 |
|
|
1 |
Rs. 86.69 |
|
Euro |
1 |
Rs. 69.98 |
INFORMATION DETAILS
|
Information Gathered
by : |
-- |
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|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.