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Report Date : |
21.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOYAL INTERNATIONAL |
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Registered
Office : |
79, Ist Floor, Acharappan street, Chennai – 600001, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of Establishment: |
1998 |
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Capital
Investment / Paid-up Capital : |
Not divulged |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Importer and Exporter of Rice / Grains and Pulses. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 : |
Usually correct |
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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 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 : |
Mr. Ajay Goyal |
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Designation : |
Proprietor |
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Contact No.: |
91-9381012796 |
|
Date : |
17.05.2012 |
\
LOCATIONS
|
Registered Office : |
79, Ist Floor, Acharappan street, Chennai – 600001, Tamilnadu, India |
|
Tel. No.: |
91-44-42159806 / 32931540 / 25224132 / 25226188 |
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Mobile No.: |
91-9381012796 (Mr. Ajay Goyal) |
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Fax No.: |
91-44-25221139 |
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E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Ajay Goyal |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of Rice / Grains and Pulses. |
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|
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Products : |
·
Bajri (Green Millets) ·
Sorghum Red/ White ·
White Millets ·
Masoor Dall ·
Chana Dall ·
Mung Dall ·
Urad Dall ·
Toor Dall ·
Chik Pease (Kabuli) ·
Tyson chick Pease (Kala chana) ·
Light Red Kidney Beans ·
Dark Red Kidney Beans ·
White Kidney Beans round / Long shape ·
Black Mapte (urid) ·
Whole Green Pea ·
Whole Yellow Pea ·
Sweet Humburg Lupins ·
Chinese BROAD Beans ·
Traditional Basmati Rice ·
All types of Basmati Rice ·
All type of indian Rice ·
Par boiled Rice
|
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Exports : |
|
|
Products : |
Rice / Grains/ Pulses |
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Countries : |
§
USA §
UK §
Canada |
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Imports : |
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Products : |
Rice / Pulses |
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Countries : |
§
China §
Korea §
Far east §
Canada §
UK |
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Terms : |
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Selling : |
L/C / Credit (30 days) |
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Purchasing : |
L/C / Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Tamilnadu Mercantile Bank, Broadway, Chennai – 600001, Tamilnadu,
India |
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Banking
Relations : |
-- |
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|
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
Not divulged |
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Borrowed : |
-- |
|
Total : |
Not divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
101.300 |
100.000 |
100.000 |
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|
|
|
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Expected Sales (2012-2013): Rs.120.000 Millions
The above information has been parted by Mr. Ajay Goyal.
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 |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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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 |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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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 (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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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 |
Yes |
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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 |
PROFILE:
Goyal
International
This is a proprietorship firm started in 1998. The proprietor is Mr. ^jay Goyal. (the second generation of Goyals in business) The Goyal family is a big family of businessmen who are all engaged in the export and import business. Their mainstay is import and export of Rice and Pulses. Their main markets are the USA, Canada, UK, Myanmar, Southeast Asia, Gulf countries, African countries, China mainland and Australia. Name a continent and the Goyals will have a client there. They operate from Acharappan street in Broadway, Parrv's corner in Cjiennai. This place is the main market place for wholesale of all commodities. One cannot have a better place than Acharappan street if one wants to be in the center of the export/import market of Tamilnadu. It is the central business district in Chennai situated near the Chennai port. The place is an important center for commercial banking, trading and a major hub for intra city bus and train services. It is the most congested part of the city, with every type of a trader, importer, and exporter vying for place here. The Chennai port that is walking distance from this firm has to be mentioned here. Situated in the Coromandel coast in South-East India, the port of Chennai has more than 100 years of tradition. Strategically located and well connected with major parts of the world, it is today" the hub port on the Indian Subcontinent. Committed to efficiency though innovation the four corner stones of the port is a witness to a lot of growth in imports and exports of the country in the recent years. Continuous modernizations, efficient services at minimum cost, simple integrated procedures and user friendly approach are the hall mark of the port. They have separate berth for rice/grain and pulses and food / agro products in general. So, strategically located Goyal International has the advantage of the location. The firm is over 15 years old and is very reputed in Chennai. They are both importers and exporters of Rice/ Grains and Pulses. They import from China/ Korea/ eanacla"and export to other parts of the "worldT The variety of pulses they offer are as follows:
§ Sorghum Red/White
§ Bajri (Green Millets)
§ White Millets
§ Masoor Dall
§ Chana Dall
§ Mung Dall
§ Urad Dall
§ Toor Dall
§ Chick Peas (Kabuli)
§ Tyson Chick Peas ( Kala Chana )
§ Light Red Kidney Beans
§ Dark Red Kidney Beans
§ White Kidney Beans Round / Long Shape
§ Black Eye Beans
§ Green Broad Beans
§ Faba Beans
§ Green Mung
§ Black Mapte ( Urid )
§ Whole Green Pea
§ Whole Yellow Pea
§ Sweet Hamburg Lupins
§ Chinese Broad Beans
They have a delicious range of Indian Rice comprising of Basmati rice, parboiled rice and sharbati rice. Famous for their scintillating aroma, the India rice offered by them are used to make Biryani, Shahi Pilau etc. The Basmati and Non Basmati rice are procured from reliable Indian manufacturers ensuring high nutritional content, and hygienic processing and packaging. They also provide an array of rice like Indian Basmati rice, white basmati rice, long grain rice, organic basmati rice, brown basmati rice etc. They come in packing's of 1kg, 2 kqs, 5 kqs 10 kgs, 25 kgs, and 50 kg jute bags as per the preference of the customers. The packing of the products can be specified by the client and will be done to the satisfaction of the buyer. The port of loading and unloading can also be adjusted to suit the customer.
They are mainly importers and exporters. They do not have local sales. They employ about 25 .. people. Their bankers are Tamilnadu Mercantile Bank, Chennai 600001. Their turnover is about 10 crores a month. There is no way to assess the financial strength of the firm. Caution aTlvTseTlr^aTTinaTc^ transactions with them. Orders may be placed against LCs or documents drawn thru bank.
All queries/orders are welcome on info(5),qoval.co.in (the website qoval.co.in is under construction). Buyers are requested to call on the mobile numbers listed below for direct answers as the mobile belongs to the directors.
A medium sized, famous, reputed firm operating from Chennai.
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.54.88 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.