MIRA INFORM REPORT

 

 

Report Date :

09.07.2013

 

IDENTIFICATION DETAILS

 

Name :

GODREJ HOUSEHOLD PRODUCTS LANKA (PVT) LTD

 

 

Formerly Known as:

Godrej Sara Lee Lanka (Pvt) Ltd

 

 

Registered Office :

#. 7C Post Master Place, Off Templers Road, Mount Lavinia

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

30.04.2001

 

 

Com. Reg. No.:

PV 14712

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importer, Manufacturer and Distribution of Insecticides, pesticides & Mosquito Coils

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

 

 

Payment Behaviour :

No  Complaints 

 

 

Litigation :

Clear 

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Sri Lanka ECONOMIC OVERVIEW

 

Sri Lanka continues to experience strong economic growth following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam (LTTE). The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth in war-torn and disadvantaged areas, develop small and medium enterprises and increase agricultural productivity. The government's high debt payments and bloated civil service have contributed to historically high budget deficits, but fiscal consolidation efforts and strong GDP growth in recent years have helped bring down the government's fiscal deficit. However, low tax revenues are a major concern. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic activity rebounded with the end of the war and an IMF agreement, resulting in two straight years of 8% growth in 2010-11. Growth moderated to about 6% in 2012. Agriculture slowed due to a drought and weak global demand affected exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a sharp depreciation, and took steps to curb imports. A large trade deficit remains a concern. Strong remittances from Sri Lankan workers abroad have helped to offset the trade deficit.

 

Source : CIA

 

 

GENERAL

Basic information at a glance

   

Name of Subject of Inquiry

GODREJ HOUSEHOLD PRODUCTS LANKA (PVT) LTD

Legal Form  & Status          

 

Private Limited Liability Company. (In Operation)

Managing Director

Arumagam Mahendran (Indian)

Primary Line of Business

Import, Manufacture and Distribution of Insecticides, pesticides & Mosquito Coils.

Office & Place of Business                

 

# 7C, Post Master’s Place,

Off Temples Road,

Mount Lavinia.

Sri Lanka

 

Tel. No: (00 94 11) 465 9800

Fax No: (00 94 11) 273 3160

 

Email :surangaprasad@godrejsales.com      

 

 

 

           

 

COMPANY DETAILS 

Registration and Shareholder Details

 

Registration No

:

N (PVS) 28361

Date of Incorporation 

:

30th April  2001  

Re-Registration No

:

PV 14712

Date of Re-Registration

:

20th July 2009  

Registered Office

:

 

#. 7C Post Master Place, Off Templers Road, Mount Lavinia.

 

 

Board of Directors

As  At

24th September 2012

 

:

M. Arumugham (Indian)

Director

Ravi Venkateswar  (Indian) 

Director

Issued Share Capital

:

Rs.      21,501,046.00

Nominal Value of Share

:

Rs.                    10.00

Share Holders

As At

24th September 2012

 

:

Share Holders

Ordinary Shares

Arumugham Mahendran (Indian)

             01

Godrej Sara Lee Limited

21,501,045

Auditors

:

Ernst & Young Chartered Accounts

Secretaries

:

Managers & Secretaries (Pvt) Limited

Bankers

:

Peoples Bank, Standard Charted Bank, HDFC & State Bank of India

 

 

Director’s Details

 

01)

 

Name

Arumagam Mahendram

Passport Number

F 7662841

Nationality

Indian

 

 

02)

Name

Sunil Kataria

Passport Number

F 5612475

Nationality

Indian

 

 

FINANCIAL DETAILS

Most recent available Financial Information

                                                                                               

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with   Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

                                                                                                                                                       

CURRENT INVESTIGATION

 

·         History.

     The Subject Company GODREJ HOUSEHOLD PRODUCTS LANKA (PVT) LTD is a Private

     Limited liability Company incorporated in 30th April 2001 under the registration Number. N (PVS)

     28361 and has re-registered on 20th July, 2009 under Number.PV 14712. In terms of Companies Act.

     # 7 of 2007.

 

       The subject Company Earlier Known as Godrej Sara Lee Lanka (Pvt) Ltd and that name   was

       Changed to GODREJ HOUSEHOLD PRODUCTS LANKA (PVT) LTD on 05th August 2010.

 

·       Location.

                  The Subject Company is located at the client given address #. 7C Post Master Place, Off Templers Road, Mount Lavinia

 

·         Operational Details.

 

       General

       The subject company primary line of business is Import, Manufacture and distribution of

        Mosquito Coils, insecticides, and pesticides.

 

        Products

Mosquito coils, mats and liquid repellents in the brand name of “GOOD NIGHT”.

             This brand is familiar amongst the households.

 

 

 

 

 

Import Countries

Europe, India & Bangladesh, China

 

No of Employees

-Not Disclosed-

 

Financial Data

The company has declined to provide information on its finances

 

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with

Limited Liability is not required to make public disclosure of their annual financials.

Therefore no financials are available for this entity

 

Trade references

Not Available

 

Credit Recommendations

                 

Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.05

UK Pound

1

Rs.90.89

Euro

1

Rs.78.27

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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 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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.