1. Summary Information
|
|
|
Country |
|
|
Company Name |
Benchmark Services |
Principal Name 1 |
Mr. K S Jaidev |
|
Status |
Satisfactory |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
Plot No 19,
Thiruvalluvar Street Nilamangai Nagar, Adambakkam, Chennai – 600088,
Tamilnadu |
||
|
Established Date |
2010 |
SIC Code |
-- |
|
Telephone# |
91-9176334630 |
Business Style 1 |
Indenting agents for a wide variety of industrial
products. They also offer the
following services Raw Material / Product Sourcing |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
02 |
Product Name 2 |
-- |
|
Paid up capital |
-- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Canara Bank |
|
Public Limited Corp. |
-- |
Business Period |
02 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba
(42) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(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 |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
15,000,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
5,700,000 |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
Benchmark Services |
|
|
|
|
Registered
Office : |
Plot No 19, Thiruvalluvar Street Nilamangai Nagar, Adambakkam, Chennai
– 600088, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Year of
Establishment : |
2010 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Indenting agents for a wide variety of industrial
products. They also offer the
following services Raw Material / Product Sourcing,
Vendor-Sourcing / Assessment / Enquiry, Price Negotiation, Process Planning and
Monitoring, Vendor Development, Product and capacity logistic of vendors,
Pre-Shipment Inspection, Shipment Status. |
|
|
|
|
No. of Employees
: |
02 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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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|
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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) |
|
India |
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. K S Jaidev |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9176334630 |
|
Date : |
16.05.2012 |
LOCATIONS
|
Registered Office/Factory : |
Plot No 19, Thiruvalluvar Street Nilamangai Nagar, Adambakkam, Chennai
– 600088, Tamilnadu, India |
|
Mobile No.: |
91-9176334630 (Mr. K S Jaidev) |
|
E-Mail : |
|
|
|
|
|
Branches : |
No.- 3, First Trust Main Road, Mandavellipakkam, Chennai- 600 028, Tamil Nadu, India |
SOLE PROPRIETOR
|
Name : |
Mr. K S Jaidev |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Indenting agents for a wide variety of industrial
products. They also offer the
following services Raw Material / Product Sourcing,
Vendor-Sourcing / Assessment / Enquiry, Price Negotiation, Process Planning and
Monitoring, Vendor Development, Product and capacity logistic of vendors,
Pre-Shipment Inspection, Shipment Status. |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
End Users |
|
|
|
|
No. of Employees : |
02 (Approximately) |
|
|
|
|
Bankers : |
Canara Bank, Chennai – 600028, Tamil Nadu, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
NOT DIVULGED
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
15.000 |
5.700 |
Expected Sales (2012-2013) : Rs.20.000 Millions
The above information has been parted by Mr. K S Jaidev (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 |
-- |
|
8)
No. of employees |
Yes |
|
9)
Name of person contacted |
Yes |
|
10)
Designation of contact person |
Yes |
|
11)
Turnover of firm for last two 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 |
No |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
Yes |
|
20)
Export / Import details (if applicable) |
-- |
|
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 |
No |
|
28)
Incorporation details, if applicable |
-- |
|
29)
Last accounts filed at ROC |
-- |
|
30)
Major Shareholders, if available |
-- |
PROFILE:
This is a proprietorship firm. The proprietor is Mr. K S Jaidev. The firm was started in the year 2010. In the two years that the firm has been in existence it has made a name for itself as one of the best indenting agents in Chennai. The firm is engaged in the following services:
1. Indenting agents
2. Mediators for importers in India
3. Traders of imported goods
The goods that he mainly deals are:
1. Steel sheets
2. Chemicals
3. Petroleum products
4. Industrial machinery
5. Plastic
6. HDPE/PP/LDPE
They have wide contacts in Korea, China and Japan. Actually Mr. K S Jaidev has been doing this indenting business for over 10 years. But only in 2010 he started his own firm. Prior to that he was working with other companies that were engaged in this business. Mr. Jaidev is a known for his technical background, his knowledge of reliable sources for obtaining the materials and in his own words he says his firm believes that indenting should bridge the gap between the supplier and the buyer and his job is to see that both the parties benefit out of that. He prides himself on:
· Knowledge of competent and reliable sources
· Strong negotiation skills
· Sound marketing and technical background
· Developing a strong Buyer - Seller relationship
· Loyalty and commitment to service
· Excellent Communication channels
Good indenters are extremely knowledgeable about the development in the international markets. Their expertise gives them an edge in sourcing, it enables them to increase their client's profitability and helps makes sure their clients will be able to get the products they need now and in the future. All this at "COMPETITIVE PRICE WITHOUT QUALITY SACRIFICE"
Since establishment their dream has been to have a global reach. Their satisfied clients consolidated their belief that they are constantly moving towards that direction. Their vision is also to achieve even more effective integration into sourcing products worldwide. They offer the following services:
· Raw Material / Product Sourcing
· Vendor-Sourcing / Assessment / Enquiry
· Price Negotiation
· Process Planning and Monitoring
· Vendor Development
· Product and capacity logistic of vendors
· Pre-Shipment Inspection
· Shipment Status
Right now they are dealing with Ms.
POSCO Specialty Steel Co., Ltd.
82-55-269-6114 82-55-269-6901 cyber@cssteel.co.kr 66
Sinchon-dong,
Changwon Kyongsangnam-do 641-370 Korea
They are hopeful that Posco will supply the materials that they have indented for their clients. Last year they helped their clients do a turnover of over Rs.15.000 Millions. A commission of about 10% becomes their turnover and that works out to Rs.15.000 Millions. He is aiming at indenting goods worth 200 crores this year and is optimistic of achieving this result.
He employs 2 people who work with him, But Mr. K S Jaidev is the key person who in the firm. Their bankers are Canara Bank, Mandaveli, Chennai.
There is no way to assess the financial strength of the firm so caution advised in all financial dealings with them.
A small firm with a very good reputation and a knowledgeable man at the helm.
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.54.87 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.