1. Summary Information
|
|
|
Country |
|
|
Company Name |
INCREDIBLE INNOVATORS |
Principal Name 1 |
Mr. E Allwyn Raja |
|
Status |
Satisfactory |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
No. 59, Green C Tower, Poonamalle Main Road, Ekaduthangal,
Chennai-600032, Tamilnadu |
||
|
Established Date |
2005 |
SIC Code |
-- |
|
Telephone# |
91-44-45542222 [Support] 91-44-43542310 [Reception] 91-44-43542856 [Technical] |
Business Style 1 |
Exporter |
|
Fax # |
Not Available |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Agro Products |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Not Available |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Axis Bank |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (41) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Sister
Concern |
India
|
Innovators Solution |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
8,000,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
INCREDIBLE INNOVATORS |
|
|
|
|
Registered
Office : |
No. 59, Green C Tower, Poonamalle Main Road, Ekaduthangal,
Chennai-600032, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Available |
|
|
|
|
IEC No.: |
0410006785 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AGVPA3030F |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Providing IT Solutions. Exporter and Importer of Agro Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 slow but correct. The concern can be considered for small 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. E Allwyn Raja |
|
Designation : |
Proprietor |
|
Contact No.: |
91-44-45542222 |
|
Date : |
28.03.2012 |
LOCATIONS
|
Registered Office : |
No. 59, Green C Tower, Poonamalle Main Road, Ekaduthangal,
Chennai-600032, Tamilnadu, India |
|
Tel. No.: |
91-44-45542222 [Support] 91-44-43542310 [Reception] 91-44-43542856 [Technical] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At: ·
Cyprus ·
Mumbai ·
USA |
SOLE PROPRIETOR
|
Name : |
Mr. E Allwyn Raja |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Providing IT Solutions. Exporter and Importer of Agro Products. |
|
|
|
|
Imports : |
|
|
Products : |
Agro Products |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Axis Bank ·
ICICI Bank ·
Indian Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Sister Concern : |
·
Innovators Solution Address: No. 59, Green C Tower, Poonamalle
Main Road, Ekaduthangal, Chennai-600032, Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
8.000 |
The above information has been parted by Mr. E Allwyn Raja.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
This is proprietorship
firm. The proprietor is Mr. E Allwyn Raja. The firm was started in the year
2005. The firm offers a wide range of integrated solutions and services to the
utilities
sector in India. At the head is Mr. E Allwyn Raja and he is assisted by
a team of IT professionals with highly specialized skills who excel in
consulting, developing, implementing and maintaining complex, data driver
software I web applications. They provide domain registration, and hosting and
custom email services or optionally virtual private servers and dedicated
servers. They provide comprehensive solutions for their clients. They also
focus on creating effective websites, multimedia presentations and software
applications to suit the needs of all types of organizations. They have
gathered a wealth of experience in diverse areas such as Travel and tourism,
power sector, infrastructure development, News and media, Art and Culture and
social sector among others. They combine latest technologies, training,
consulting and technical support in niche areas such as:
·
Microfinance & Banking
·
Livelihoods
·
Healthcare
·
Security
·
Enterprise Resource Planning
·
Trading
·
Insurance
·
Campus Management
·
Wireless communication
Now, that is how
this firm started. While registering they also registered themselves as
exporters I importers of vegetables, fruits, mushrooms and other natural
products. They started importing mushrooms and found that the mushrooms thus
imported had a very good market in the Super market sector of India like
Relaiance, More, Spencers, Nilgiris, Big Bazaar, etc. Then they imported 7 to 8
consignments and did very well. So they evinced keen interest in importing agro
products for sale in India. Right now
they are expecting a consignment of mushrooms from Korea and hope the deal
comes thru right.
They have tie ups
with two cold storage companies SBJ cold Storage at Vellapanchavadi in Chennai
and make use of their storage for the imported products. What used to be a
2.500 millions per year turnover has now turned into a 8.000 million turnover
this year. Apart from a good turnover in the IT business Mr. Allwyn is keen on
imports and exports and this diversification had helped him.
When I visited him
he showed me his past invoices that he has made on the super markets, his bill
of lading from other countries and such documents as proof for this agri import
business. His bankers are Axis Bank, ICICI Bank and Indian Bank. The other
registration numbers are given below.
A genuine firm interested
in imports and expansion of their business. However there is no way to assess
the financial strength of the firm. Caution advised in all financial dealings
with them.
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.51.15 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
41 |
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.