|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
A.R. ENTERPRISES |
|
|
|
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Registered
Office : |
64, |
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|
|
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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 : |
2010 |
|
|
|
|
Capital
Investment : |
Rs. 150.000 Millions |
|
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TIN No.: |
33271704136 |
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PAN No.: [Permanent Account No.] |
AGZPA7890H |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Manufacturer and Supplier of Potable Water and Labor Recruitment. |
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|
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|
No. of Employees
: |
500 (In Factory) (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 |
|
Maximum Credit Limit : |
USD 60000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established proprietary concern having a satisfactory
track record. Trade relations are reported to be fair. Business is active. Payment terms
are reported to be usually correct. The concern can be considered for business dealing 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
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
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in
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. A Ravi |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9842991411 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
64, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9842991411 (Mr. A Ravi) |
|
Fax No.: |
Not Available |
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|
|
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Administrative Office : |
11/359, |
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|
|
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Factory : |
No. 36, Sidco Industrial Estate, Gummidipoondi, Chennai – 601201, |
SOLE PROPRIETOR
|
Name : |
Mrs. R Amudha |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. A Ravi |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Potable Water and Labor Recruitment. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
500 (In Factory) (Approximately) |
|
|
|
|
Bankers : |
State Bank of |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs. 150.00 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 150.00
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
The above information has been parted by Mr. A Ravi
Note: Sole Proprietary 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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
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 |
Yes |
|
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 |
----- |
|
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 |
PRESS RELEASE:
At Gummidipoondi industrial estate, jobs go abegging
24th April, 2014
Chennai, Amid all the dusty lanes and dilapidated factory sheds there is one thing in the Gummidipoondi industrial estate that catches the eye — ‘workers wanted' sign boards.
Despite the worn-out look, the 31-year-old industrial estate bustles with activity within. The units here are all small and medium enterprises that collectively produce goods worth Rs 1,500 crore. There is more business to be had, but a shortage of hands is spoiling the party.
Barring a few sick units, about 60, all the others are doing “reasonably well”, says Mr S.N. Balasubramanian, President of the Gummidipoondi Industrial Complex Manufacturers' Association. But, due to shortage of skilled and unskilled manpower, many units are not able to accept fresh orders, he says.
Currently, about 20,000 people work here, but according to Mr S.K. Jain, Managing Director of Jain Rubbers Private Limited, there are 5,000 jobs waiting to be had on any day. This is even to execute the orders on hand. He himself needs at least 500 people. Jain Rubbers is manufacturing rubber products, such as stoppers, for medical and pharmaceutical industries.
LABOUR CRUNCH
The Gummidipoondi industrial estate lies on a 1,400-acre piece of land some 45 km north of Chennai on the Chennai-Kolkata highway — an enviable location, with a railway station and two ports at hand, and access to a clutch of villages — a veritable labour catchment area. But that last advantage is fast drying up, thanks to “several free schemes from the State and Central Governments”.
The minimum wage paid to unskilled entry-level worker is Rs 6,000-7,000, with all statutory compliances such as PF and ESI met. Even commutation cannot be a problem, as the industrial estate is well- connected by road and rail. The Gummidipoondi railway station is just on the other side of the main road, he says.
“We had to stop installation of an additional line in our facility because of non-availability of manpower,” says Mr. G.M. Krishnamurthy, Managing Director of Sardev Friction Products Private Limited. The company manufacturers clutch plates predominantly for earthmoving equipment.
Though there are more than half a dozen villages around the estate, no one is willing to come and work. If at all they come, “no one knows when he will bunk off and for how long”, he says. Mr A. Thandapani, Chief Manager (Human Resources) at Mitsuba Sical India Ltd, says the industrial estate could attract workers from Bihar earlier. But not anymore—thanks to availability of jobs in their home towns. Even today there are a number of workers from Odisha and the fear is that they might return too.
Should the industrial complex get enough work force, production will go up at least by 50 per cent, says Mr K. Swamiraj, Director of Abref Private Limited, and Vice-President of the association. His company manufactures more than 900 tonnes of cordierite kiln furniture a year.
Mr A. Ravi, a labour contractor, brings hundreds of workers from neighbouring Andhra Pradesh in a fleet of trucks every day. He runs the Rs 18-crore A.R. Enterprises, which supplies 3,500 workers — unskilled to engineers — to industrial estates here. Right today, he is on the lookout for a thousand more.
So what's the solution to this Mr Balasubramanian says the companies are going in for campus recruitment to ITIs and Polytechnic institutes. He believes that setting up a vocational training centre inside the estate will be of much help.
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.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
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.