|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DHAMODHARAN TEXTILES |
|
|
|
|
Registered
Office : |
No.-13/1, 3Rd Street, Thangavelu Pillai Garden, Old Washermenpet,Chennai - 600021, Tamil Nadu |
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment: |
1995 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Not Available |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturers, exporters of All Kind of Yarn Dyed Fabrics |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a small partnership concern in its field. Its scale of activities
are limited. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The concern can be considered for small 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 – June 30, 2012
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Dhamodharam |
|
Designation : |
Partner |
|
Contact No.: |
91-9444014352 |
|
Date : |
21.11.2013 |
LOCATIONS
|
Registered Office/Factory : |
No.-13/1, 3Rd Street,
Thangavelu Pillai Garden, Old Washermenpet,Chennai - 600021, Tamil
Nadu, India |
|
Tel. No.: |
91-44-25971128/25971156/5971146/5971128/25957352 |
|
Fax No.: |
91-44-25957352 |
PARTNERS
|
Name : |
Mr. Dhamodharam |
|
Designation : |
Partner |
NOTE: Denied to disclose other partner name.
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Exporters of All Kind of Yarn
Dyed Fabrics |
|
|
|
|
Products : |
All Kind of Patch Work Fabric · Plain Weave Fabric · Cotton Fabric · Checks Fabric · Twill Fabric · Jacquard Weave Fabric ·
Printed Fabric |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit |
GENERAL INFORMATION
|
No. of Employees : |
35 (Approximately) |
|
|
|
|
Bankers : |
·
ICICI Bank ·
HDFC Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
NOT DIVULGED
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
5.000 |
|
|
|
|
|
The above information has been parted by Mr. Dhamodharam (Partner)
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
No |
|
27] |
Financials, if provided |
No |
|
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 |
COMPANY PROFILE:
This is a partnership firm started in 1995 by Mr. G Dhamodharam. Mr. Dhamodharam is the Managing Partner of the firm. They are primarily exporters of dyed yarn fabrics to the USA. They have been in business for the past two decades and have made a name for themselves. Mr. Dhamodharam is the single person who takes care of both sales and shipment. The materials are procured from Karur, Coimabtore, Salem and other towns in Tamilnadu brought to Chennai and shipped from here. Since they have been in business for a long time they have regular customers who buy from them. They also make customized fabrics especially patchwork fabrics and power loom yarn dyed fabrics. They have over the years built up a very good clientele and have no problem with getting orders. They employ about 35 people. Their turnover is under Rs.5.000 Millions per annum. Their bankers are ICICI bank.
For better visibility on line they have registered themselves on www.tradindia.com. If this inquiry is from Tradeindia please note :
1.
They are not happy with the content of the
website. There are a lot of corrections
to be made and they are expecting the staff from Tradeindia. ( we spoke to them on 18.11.2013 and they were expecting them on
the 19th).
2. We, Dhamodharan
Textiles, are an eminent Manufacturer and Exporter of quality Fabrics that
are known for their flamboyance feel and aesthetic sense – We Dhamodharan Textiles, are an eminent Manufacturer and Exporter of
quality fabrics known for their flamboyance and aesthetics.
3. As we are a
creative firm, we make sure to weave the products such as Cotton Fabric,
Checks Fabric, Twill Fabric, Jacquard Weave Fabric and Printed Fabric with
innovation – We are a creative firm and
make sure that our products are innovative OR We are a creative firm and as
such introduce innovation in all our products.
4. All these have led
to a great demand of these aforesaid products in the textile industry. – Our Innovation has increased the demand
for our products in the textile industry.
5. Meanwhile, we make
sure to work as per the specification of international standards and follow
every bit of prevailing market trends. – Meanwhile,
we make sure to adhere to international standards and at the same time keep a
track of the prevailing market trends.
6. This backs us to
churn superior grade Fabrics, which holds rich productive value in terms of
color, finish, design, look and comfort. – this
helps us to produce products that are superior in terms of color, finish,
design, look and comfort.
7. There is a pool of
experienced professionals, who carry their respective job works of designing,
packaging, accounting, etc, with utmost perfection – We have a pool of experienced professionals, who carry their respective
job works of designing, packaging, accounting with utmost perfection.
8. Apart from this,
we make sure to manage the available resources in an efficient way to cut off
the production cost, which eventually backs us to serve customers in a
cost-effective way, giving full worth of their money. – Apart from this, we make sure to manage the available resources in an
efficient way to cut production costs, which eventually helps us serve
customers in a cost-effective way, giving full worth to their money.
Other buyers please feel free to call on +919444014352 when Mr. Dhamodharam will be more than happy to give you the details of his products. There is no way to assess the financial strength of the firm. Supplies may be made against LCs. Orders may be placed against LCs or documents may be negotiated through bank.
A medium sized reputed and old firm doing well.
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.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.