MIRA INFORM REPORT
|
Report Date : |
29.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDYA FOODS PTY LTD |
|
|
|
|
Registered Office : |
Unit 1, 3-5
Graham Road, Clayton South, Victoria, Zip/postal code 3169 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Date of Incorporation : |
19.04.2006 |
|
|
|
|
Com. Reg. No.: |
119324382 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Importer,
marketer and distributor of Indian food products |
|
|
|
|
No. of Employees : |
25 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, 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 also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
|
Source : CIA |
Verified Address
Subject name :
INDYA FOODS PTY LTD
Business
address : Unit 1, 3-5 Graham Road
Town : Clayton South
Province : Victoria
Zip/postal
code : 3169
Country : Australia
Tel : +61 3 95481122
Fax : +61 3 95481144
Email : murali@indyafoods.com.au
Website : www.indyafoods.com.au
Registered
address : Unit 1, 3-5 Graham Road
Town : Clayton South
Province : Victoria
Zip/postal
code : 3169
Country : Australia
Executive Summary
Date founded
or registered : 19/04/2006
Legal form : Australian
Proprietary Company
Chief
executive : Murali
Metlapalli
Issued &
paid up capital : AUD 1,000
Line of
business : Importer,
marketer and distributor of Indian food products.
Staff employed : 25
employees
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 19/04/2006
Legal form : Australian Proprietary Company
Registration
no Australia Company Number:
119324382
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australia Business Number:
64119324382
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Murali Metlapalli
Designation : Managing Director
Appointments
Name : Saloman Raju Kakumanu
Designation : Director
Appointment
date : 19/04/06
Address : 36 Crows Lane
Glen Waverley, VIC 3150
Australia
Biography : Born on 05/01/1960 in India.
Name : Venkata Suresh Konduru
Designation : Director
Appointment
date : 19/04/06
Address : 9 Douglas Court
Altona Meadows, VIC 3028
Australia
Biography : Born on 15/08/1965 in India.
Name : Murali Metlapalli
Designation : Director and Company Secretary
Appointment
date : 19/04/06
Address : 36 Crows Lane
Glen Waverley, VIC 3150
Australia
Biography : Born on 20/02/1969 in India.
Staff employed
: 25 employees
Composition
Authorized
Capital : AUD 1,000
No of shares :
1,000 Ordinary Shares
Share par
value : AUD 1
Issued capital
: AUD 1,000
Paid up capital : AUD
1,000
How listed : Full List
Composition
Shareholder
name : Murali Metlapalli
Address : 36 Crows Lane
Glen Waverley, VIC 3150
Australia
No. of shares
: 400 Ordinary Shares
% of shares : 40%
Shareholder
name : Venkata Suresh Konduru
Address : 9 Douglas Court
Altona Meadows, VIC 3028
Australia
No. of shares
: 400 Ordinary Shares
% of shares : 40%
Shareholder
name : Saloman Raju Kakumanu
Address : 36 Crows Lane
Glen Waverley, VIC 3150
Australia
No. of shares
: 200 Ordinary Shares
% of shares : 20%
Structure
Related
companies and corporate affiliations comments : None reported.
Bank Details
Name of bank :
Australia and New
Zealand Banking Group Limited
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
Comments : The
representative contacted Mr. Murali Metlapalli advised the Subject annual
turnover is between AUD 12-15 million.
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 $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the
financial year.
Main
activities : The
Subject is engaged as an importer, marketer and distributor of Indian
food products in Australia to cater for the South Asian
descent.
Product &
services : The Subject's products
ranges from Indian groceries, spices, healthcare
products which includes:
Cardamom,
Saffron, Basmati Rice, Rose Water, Incense Sticks,
Sandalwood
Soaps, Lentils, Variety of Dals, Pickles, Ready to eat foods,
Frozen Foods
and Vegetables, Indian Sweets, Tea, Pataks Pickles and
Pastes,
Papadums
Ayurvedic Products
Hair Care,
Oral Care, Health Care, Skin Care, Home Care & Foods.
Others:
Indian Musical
Cd's and Dvd's
Brand : PRIYA
PILLSBURY
DABUR
PRESTIGE
IDHAYAM
MANGAL
BASHAH
EVEREST
FARMER
KAWAN
Purchases
International
: Malaysia, Canada, United
Arab Emirates, India
Sales
Local : Yes
International
: No exports.
Property &
Assets
Premises : The Subject operates from
verified heading address consisting of a
administrative office and warehouse.
Branches : In addition, the Subject
operates from the following branches located at:
20 Hallstrom Place
Wetherill Park, NSW 2164
Australia
1/30, Hamilton Street
Cannington, WA 6107
Australia
4/25,
Beaufield Street
Para
Hills West, SA 5096
Australia
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 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)
Trade & Competitiveness Overview
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 2009: 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)
Country and Population Overview
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, Telegraphic transfer,
D/P, Credit 30-90 days
Sales Term
Local : Prepayment, Bank
transfer, Credit 30-90 days
Trade Reference/
Payment 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.55.74 |
|
UK Pound |
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.72.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.