|
Report Date : |
15.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SRI DHANALAKSHMI IMPEX |
|
|
|
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Registered
Office : |
128, Anna Pillai Street, Second Floor, Chennai – 600001, Tamilnadu |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2013 |
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Year of
Establishment : |
2009 |
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|
|
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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|
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Line of Business
: |
Indenting Agent for
Pulses, Food Grains and Kirana Items. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
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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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having a satisfactory
track record. Trade relations are reported as fair. Business is active. Payment
terms are usually correct The concern can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Monish Tater |
|
Designation : |
Partner |
|
Contact No.: |
91-9840156220 |
|
Date : |
05.07.2013 |
LOCATIONS
|
Registered Office : |
128, Anna Pillai Street, Second Floor, Chennai – 600001, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9840156220 (Mr. Monish Tater) 91-9840052257 (Mr. Mithulal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
Note: They have representatives all over Indian in
every State.
PARTNERS
|
Name : |
Mr. Monish Tater |
|
Designation : |
Partner |
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|
|
|
Name : |
Mr. Mithulal |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Indenting Agent for
Pulses, Food Grains and Kirana Items. |
|
|
|
|
Imports : |
|
|
Products : |
Indenting Agent |
|
Countries : |
· USA · Europe · Canada · Australia · Middle East Countries · South Eastern Countries · Africa |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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|
|
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No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
·
Tamilnadu
Mercantile Bank Chennai - 600001, Tamilnadu,
India ·
ICICI
Bank Chennai - 600001, Tamilnadu,
India · Bank of Indore Chennai - 600001, Tamilnadu,
India |
|
|
|
|
Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
Not Divulged |
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|
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Associates/Subsidiaries : |
· Shree Mahalakshmi Traders and Company 72, Govindappa Naicken Street, 2nd Floor, Chennai – 600001,
Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
|
|
|
|
|
The above information has been parted by Mr. Monish Tater.
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
PROFILE:
Subject is an international indenting agent for pulses, food grains and kirana items headquartered in Chennai, India with a mission to be a global link between exporters and importers in key agro-commodity markets. Subject have been one of the reputed enterprises actively engaged in the supply of pulses and food grains. The firm is a new and young one with only 4 years on the board. It is a partnership firm with Mr. Monish Tater and Mr. Mithulal. They have close ties with Shree Mahalakshmi Traders and Company. In fact Mr. Monish Tater is the son of the proprietor of SMT.
Subject India has the infrastructure and the resources to meet the most complex demands of customer in terms of quality, quantity, time and delivery. They strive hard to achieve highest Service Quality with Politeness and Courtesy, keeping Customer Satisfaction as their highest priority. Their commitment to quality ensures finest service and customer support.
Countries where they mainly
focus includes:
·
Argentina
·
Australia
·
Brazil
·
Canada
·
China
·
Ethiopia
·
Kenya
·
Myanmar
·
Mexico
·
Sri
lanka
·
Tanzania
·
Turkey
· USA
They are situated on Anna Pillai
Street which is near the wholesale market for pulses in Chennai. Their bankers are Tamilnadu Mercantile Bank
and ICICI Bank, Chennai 600001.
Their turnover is about
40.000 Millions a year. They have big plans for this year as the import duty on
pulses continue this fiscal too.
They procure orders from all
over India and from Singapore, Malaysia and the Gulf countries too.
Mr. Tater also was very
optimistic about this year as imports of both edible oils and pulses grew
significantly in the year 2012-13 (edible oil imports grew by 15.5 percent and
pulses by 26.21 percent) and the Indian Government has extended the No import
duty policy to pulses for the year ending March 2014.
While imports of edible oils
crossed $10 billion in 2012-13 from $9.7 billion, those of pulses were still
comparatively less. India imported $2.33 billion of pulses last financial year
compared with $1.85 in 2011-12. Analysts blamed the pricing policy of the
government in favor of rice and wheat, which do not factor the changing
consumption pattern. Oilseed production dropped almost 8.25 per cent to 29.79
million tonnes in 2011-12 (November-October) because of low kharif harvest on
account of uneven rains. In 2012-13 too, oilseed production is expected to be
only marginally better than last year also because of poor rains in the main
growing regions of Maharashtra and Gujarat. It is estimated to be around 30.7
million tonnes. Going forward, experts said domestic oilseed production is
falling woefully short of edible oil demand, which would continue to rise
further aggravating supply-demand mismatch in the coming years. "India
every year needs an additional seven to eight lakh tonnes of edible oils, for
which oilseed production has to increase by at least five million tonnes, unthinkable
given that India's domestic oilseeds production has stagnated at around 28-32
tonnes.
So the import of pulses and
oil seeds is expected to rise in the year 2013-2014 and Mr. Tater is ready to
take advantage of the situation.
A small but a firm with significant turnover. Indenting agents for food grains and pulses. Cash rich as their business does not involve any capital investment and the climate for import is right and bright
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 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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.