|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIA
AT HOME PTY LTD |
|
|
|
|
Registered Office : |
Unit
2, 96 Rodeo Drive, Dandenong, Victoria 3175 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
30.06.2005 |
|
|
|
|
Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
Subject engages in import, wholesale and
retail sales of lentils, peas,beans, pappadums, pickles and chutneys, herbs,
spices, flour, rice, Indian savoury's and sweets, ready to eat food, indian
cosmetic lines, religious prayer items, incense sticks, indian tea and also
natural green tea. |
|
|
|
|
No. of Employees : |
40
employees |
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a
strong and stable financial system. By 2012, Australia had experienced more
than 20 years of continued economic growth, averaging 3.5% a year. Demand for
resources and energy from Asia and especially China has grown rapidly, creating
a channel for resources investments and growth in commodity exports. The high
Australian dollar has hurt the manufacturing sector, while the services sector
is the largest part of the Australian economy, accounting for about 70% of GDP
and 75% of jobs. Australia was comparatively unaffected by the global financial
crisis as the banking system has remained strong and inflation is under
control. Australia has benefited from a dramatic surge in its terms of trade in
recent years, stemming from rising global commodity prices. Australia is a
significant exporter of natural resources, energy, and food. Australia's abundant
and diverse natural resources attract high levels of foreign investment and
include extensive reserves of coal, iron, copper, gold, natural gas, uranium,
and renewable energy sources. A series of major investments, such as the US$40
billion Gorgon Liquid Natural Gas project, will significantly expand the
resources sector. Australia is an open market with minimal restrictions on
imports of goods and services. The process of opening up has increased
productivity, stimulated growth, and made the economy more flexible and
dynamic. Australia plays an active role in the World Trade Organization, APEC,
the G20, and other trade forums. Australia has bilateral free trade agreements
(FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has
a regional FTA with ASEAN and New Zealand, is negotiating agreements with
China, India, Indonesia, Japan, and the Republic of Korea, as well as with its
Pacific neighbors and the Gulf Cooperation Council countries, and is also
working on the Trans-Pacific Partnership Agreement with Brunei Darussalam,
Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and
Vietnam.
|
Source
: CIA |
Verified Address
Subject
name : INDIA AT
HOME PTY LTD
Business
address : Unit 2, 96
Rodeo Drive
Town
:
Dandenong
Province
:
Victoria
Zip/postal
code : 3175
Country : Australia
Tel
:
+61 3 97923839
Fax :+61
3 97068280
Email
:
info@indiaathome.com.au
Website :
www.indiaathome.com.au
Registered
address : Unit 2, 96
Rodeo Drive
Town
:
Dandenong
Province
:
Victoria
Zip/postal
code : 3175
Country
:
Australia
Executive Summary
Date
founded or registered : 30/06/2005
Legal
form :
Australian Proprietary Company
Chief
executive : Rajesh
Bhatia
Issued
& paid up capital : AUD 2
Sales
turnover : AUD
15,000,000 (Estimated Non-Consolidated 12 months, 30/06/2012)
Line
of business :
Import, wholesale and retail sales of food products.
Staff
employed : 40
employees
Country
risk :
Country risk is minimal
Operation
trend :
Operational trend is steady
Management
experience : Management is
reasonably experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is stable
Detrimental
: No detrimental found
Payment
history : No
payment delays noted
Credit amount asked :
Not described.
Registry Data
Registration
date : 30/06/2005
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 115065542
Registered
authority : Australian Securities and
Investments Commission
Fiscal/
Tax no : Australian Business
Number: 11115065542
Registry
status : Live/Active
Previous
name : None reported.
Change
of legal form : None reported.
Key Management
Name
: Rajesh Bhatia
Designation
: Managing Director
Name : Raminder Singh
Designation
: Manager
Appointments
Name
: Rajesh Bhatia
Designation
: Director and Company
Secretary
Appointment
date : 30/06/05
Address
: 74 Matthew
Flinders Avenue
Endeavour Hills, VIC 3802
Australia
Biography
: Born on 13-06-1973
in India.
Staff
employed : 40
employees
Composition
Authorized
Capital : AUD 2
No
of shares : 2 Ordinary
Shares
Share
par value : AUD 1
Issued
capital : AUD 2
Paid
up capital AUD 2
How listed : Full List
Composition
Shareholder
name : Rajesh Bhatia
Address
: 74 Matthew
Flinders Avenue
Endeavour Hills, VIC
3802
Australia
No.
of shares : 1 Ordinary
Share
%
of shares : 50%
Shareholder
name : Vandna Bhatia
Address
: 74 Matthew
Flinders Avenue
Endeavour Hills, VIC 3802
Australia
No.
of shares : 1 Ordinary
Share
%
of shares : 50%
Structure
Related
companies and corporate
affiliations
comments : None
reported.
Bank Details
Name
of bank : Commonwealth Bank
of Australia
Address
: Australia
Account
details : Current
Account
Comments : It is generally not the
policy of local banks to provide credit status information to non related
parties, however interested parties would be advised to consult first with the
Subject if banker's references are required.
Mortgages
: None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None
reported.
Others
: None reported.
Description
Source
of financial statement :
Provided by the Subject
Financial
statement date :
30/06/12
Type
of accounts :
Estimated key figures
Currency
:
Australia Dollar (AUD)
Exchange
rate :
1 USD = AUD 1.04 as of 31-05-2013
Consolidation
type : Non
Consolidated
Currency
:
Australia Dollar (AUD)
Denomination
:
(x1) One
Date
of financial year end :
30/06/12
Length
of accounts :
12 months
Sale
turnover / Income :
15,000,000
Comments
: The Subject is
classified as a small proprietary company by the Australian Securities &
Investments
Commission hence is not required to disclose
their financial statement.
A
proprietary company is defined as small for a financial year if it satisfies at
least two of the following:
-
The consolidated revenue for the financial year of the company and any entities it controls is less
than $25 million;
-The value of the consolidated gross assets at the end of the financial year
of the company and any entities it controls is less than $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the end of the financial year.
Main activities
The Subject engages in import, wholesale and
retail sales of lentils, peas,beans, pappadums, pickles and chutneys, herbs,
spices, flour, rice, Indian savoury's and sweets, ready to eat food, indian
cosmetic lines, religious prayer items, incense sticks, indian tea and also
natural green tea.
Product &
services :
Biscuits
Calling
Cards
Candies
And Mukhwas
Coffee
And Tea
Cosmetics
- Face Products
Cosmetics
- Hair Products
Cosmetics
- Oral
Cosmetics
- Personal Hygine
Dairy
and Deli Products
Drinks
Entertainment
Essence
Fiji
and Islander Food
Flour
Fresh
Food
Frozen
Food
Furniture
Health
Products
Incense
Instant
Mixes
Lentils
Musical
Instruments
Noodles
And Soups
Nuts
Oil
And Ghee
Papadums
Pickles
& Pastes
Pooja
Items
Ready
To Eat
Rice
Sauces
Snacks
Specialised
Indian Items
Spices
Sugar
And Salt
Sweets
Utensils
Vegetables
Purchases
International :
Mainly from India
Sales
Local : Yes
International : No exports.
Premises
: The Subject
operates from premises at the verified heading address
consisting of an administrative office and
warehouse.
Branches : In addition, the
Subject operates from 9 retail outlets located at:
15-21
Westwood Drive
Burnside,
VIC 3023
Australia
Tel:
+61 (03) 8361 7811
128
Cheltenham Road
Dandenong,
VIC 3175
Australia
Tel:
+61 (03) 9792 1520
493
Burwood Road
Hawthorn,
VIC 3122
Australia
Tel:
+61 (03) 9815 1622
565
Barkly Street
West
Footscray, VIC 3011
Australia
Tel:
+61 (03) 9689 5300
131-135
Carnish Road
Clayton,
VIC 3168
Australia
Tel:
+61 (03) 9543 5568
897
Canterbury Road
Boxhill,
VIC 3128
Australia
Tel:
+61 (03) 9890 4855
768-770
High Street
Epping,
VIC 3040
Australia
Tel:
+61 (03) 8401 3040
1208
Glenhuntly Road
Glenhuntly,
VIC 3173
Australia
Tel:
+61 (03) 9571 8494
343,
Dandenong Plaza
49
MacCrae Street
Dandenong,
VIC 3175
Australia
Tel:
+61 (03) 9792 5052
Gross Domestic
Products (GDP) & Economic Overview
Central
bank
: Reserve Bank of Australia
Reserve
of foreign exchange & gold : US$
43.879 billion
Gross
domestic product – GDP : US$
1.586 trillion
GPP
(Purchasing power parity) :
954.296 billion of International dollars
GDP
per capita - current prices :
US$ 68,916
GDP
- composition by sector :
agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation
:
2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment
rate : 2009:
5.6%
2010: 5.2%
2011:
5.1%
Public
debt
(General
Government gross debt as
a
% GDP) :
2009: 16.9%
2010: 20.4%
2011: 22.9%
Government
bond ratings :
Standard & Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market
value of publicly traded
Shares :
US$1.258 trillion
Largest companies in
the country : Commonwealth Bank
(Banking), BHP Billiton (Materials),
Westpac Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking),
ANZ Banking (Banking), Telstra
(Telecommunications)
Total
exports : US$210.7 billion
Exports
commodities : Coal, iron ore, gold,
meat, wool, alumina, wheat
Total
imports : US$187.2 billion
Imports
commodities : Machinery and transport
equipment, computers and office machines,
telecommunication
equipment and parts, crude oil and petroleum products
Export
- major partners : Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%,
India
5.5%,
UK 4.2%
Import
- major partners : China 15.5%, US
12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK 4.3%, Thailand 4.2%
FDI
Inflows : 2008:
US$46,843 million
2009:
US$25,716 million
2010: US$32,472 million
FDI
Outflows : 2008: US$33,604
million
2009: US$16,160 million
2010: US$26,431 million
Best
countries for doing business : 10
out of 183 countries
Global
competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Total
population : 22.23 million
Total
area : 7,692,024 km2
Capital : Canberra
Currency
: Australian dollars
(AUD)
Internet
users as % of total
Population : 76%
Purchase Term
International : Prepayment, D/P, Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Cash, Credit card, Bank transfer, Credit 30-60 days
Behaviour
Comments
: As local and
international trade references were not supplied, the Subject's
payment track record history cannot be
appropriately determined but based
on our research,
payments are believed to be met without delay.
Investigation Note
Sources
: Interviews and
material provided by the Subject
: Other official and
local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.