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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SHARDA DE MEXICO S. DE R.L. DE C.V. |
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Registered Office : |
Aguascalientes 15, Col. Roma 06760 Cuauhtémoc / México DF |
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Country : |
Mexico |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
18.07.2004 |
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Legal Form : |
Limited Liability Partnership of Variable Capital |
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Line of Business : |
Subject is engaged in Chemical industry in general, Production and marketing
of plastics and derivatives, Veterinary and agrochemical Reagents. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Mexico |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
MEXICO ECONOMIC OVERVIEW
Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5.5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and in July it formed the Pacific Alliance with Peru, Colombia and Chile. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP recovered during 2010-13 with exports - particularly to the United States - leading the way. In November 2012, Mexico's legislature passed a comprehensive labor reform which was signed into law by former President Felipe CALDERON. Mexico's new PRI government, led by President Enrique PENA NIETO, has emphasized economic reforms during its first year in office, passing education, energy, financial, fiscal and telecommunications reform legislation. Nevertheless, administration estimates show GDP growth slowed in 2013 to just over 1%
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Source
: CIA |
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IDENTIFICATION |
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CORRECT COMPANY
NAME |
SHARDA DE MEXICO S. DE R.L. DE C.V. |
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TRADE NAME |
SHARDA MÉXICO |
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TAXPAYER
REGISTRATION |
RFC SME0707187AA |
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MAIN ADDRESS |
Aguascalientes 15, Col. Roma |
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POSTAL CODE |
06760 |
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DEPT/PROV/REGION/STATE |
Cuauhtémoc / México DF |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 55745331 - 55648168 |
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CORPORATE E-MAIL |
mexico.accounts@shardaintl.com |
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WEB |
www.shardaintl.com |
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COMMENTS |
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Other email: amanjarrez.shardamex@gmail.com Fax: (55) 52646592 |
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EXECUTIVE SUMMARY |
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Date of
foundation |
2007 |
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Capital stock |
Ps$.3,000 Pesos |
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Chief Executive |
MANJARREZ, ADRIANA |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
Without rating (No payment experience traced) |
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Credit (**) |
MODERATE RISK. (Acceptable financial situation but limited). |
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Number of times that this company was required: 2 |
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LEGAL STRUCTURE |
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LEGAL STATUS |
Limited Liability Partnership of Variable Capital |
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DATE OF
INCORPORATION |
18JUL2004 |
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PLACE OF
REGISTRY |
México DF |
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NOTARY OFFICE |
DURATION |
99 years |
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INITIAL CAPITAL |
Ps$.3,000 Pesos |
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CURRENT PAID-IN
CAPITAL |
Ps$.3,000 Pesos |
LAST CAPITAL
INCREASE |
No increase reported |
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CURRENT EXCHANGE
RATE (US$) |
Ps$.12.94 per USD.1.00 |
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DIRECTORS - EXECUTIVES – SHAREHOLDERS |
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WHO IS WHO? |
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BUBNA, MANISH R. |
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TITLE |
Shareholder |
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NATIONALITY |
Indian |
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DOMICILE |
501, Pleasant Park, 5th Floor, 24th Road, Bandra (West), Mumbai 400 050 |
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BACKGROUND
INFORMATION |
He is 39 years old. He got a Degree in Chemical Engineering from the University Department of Chemical Technology, Bombay University. He serves as Executive Director of Sharda Cropchem Limited, Axis Crop Science Private Limited, Sharda Europe BVBA, Sharda Exports Private Limited, Sharda International Africa (Pty) Ltd and Sharda Malaysia SDN. BHD. Driver's License: 19930015930; ID: ROL2236784. |
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SIDDHIVINAYAK INTERNATIONAL LIMITED |
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BUSINESS BACKGROUND Siddhivinayak International Limited: Company based in India. It was incorporated on April 5, 2007 as an international company under the laws of the authority of Ras Al Khaimah Free Trade Zone, UAE. It is involved in trade activities in general, new investment, investment in the realty and any lawful act or activity for international companies that may be organized under the International Seabed Authority Regulations of Ras Al Khaimah Free Zone 2006. |
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BUSINESS HISTORY |
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SHARDA DE MÉXICO S. DE R.L. DE C.V. is a company founded on July 18, 2007 in the City of Mexico, DF and started operating on July 23, 2007, having not changed since then its legal status. The Company is a subsidiary of Sharda Cropchem Limited, formerly known as Sharda Worldwide Exports Private Limited, a corporation formed in 1956 and based in India under the regulations of the Joint-Stock Companies Act. This company is dedicated to exporting agrochemicals and formulations to different countries worldwide. Sharda Cropchem Limited has the following subsidiaries: India 1. Axis Crop Science Private Limited Subsidiaries abroad Direct Subsidiaries Sharda Costa Rica S.A. Sharda de Guatemala.S.A. Sharda del Ecuador Cía. Ltda. Sharda do Brasil Comercio de Produtos Químicos e Agroquímicos Ltda. Sharda Hungary Kft Sharda Italia S.R.L. Sharda Peru S.A.C. Sharda Polska SP. ZO.O Sharda Spain S.L. Sharda Swiss S.A.R.L. Sharda Ukraine LLC Sharda USA LLC Indirect Subsidiaries Sharda Bolivia S.R.L. Sharda Colombia S.A. Sharda de Mexico S. de R.L. de C.V. Sharda International Africa (Pty) Ltd Sharda Malaysia SDN. BHD. Sharda Uruguay S.A. |
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BUSINESS |
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SIC
Classification |
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Main activity |
Importation and distribution of agrochemicals. |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
India; direct credit at 30 days |
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Export |
No |
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% CASH SALES /
METHOD |
50% |
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% Credit SALES /
Terms |
50% at 30 days |
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% FOREIGN
PURCHASES |
100% |
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SELLING
TerritorY |
Mexican market - 100% |
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Comments |
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The number of employees was not specified. Clients: The Company serves farmers in general |
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FINANCIAL INFORMATION |
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Disposition |
TF: REPORT PREPARED FROM OUTSIDE SOURCES. |
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Interviewee(s) |
Cesar Ruiz Briseño |
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Position(s) |
General Accountant |
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Information
provided |
Cesar Ruiz Briseño General Accountant said that according to the Parent Company's instruction, they could not give information to third-party. Hence, the information in this report has been collected from third-party sources where we also could obtain the Consolidated Balance Sheet of SHARDA CROPCHEM LIMITED as of September 30, 2013 (9 months, expressed in Million Rupees. |
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Comments |
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CONSOLIDATED BALANCE SHEET OF SHARDA CROPCHEM LIMITED AS OF SEPTEMBER 30, 2013 (9 MONTHS) EXPRESSED IN MILLION RUPEES ASSETS Current Assets 4,974.96 Non-current Assets 2,116.95 ========= TOTAL ASSETS 7,091.91 LIABILITIES Current Liabilities 2,066.87 Non- Current Liabilities 87.52 Shareholders' Equity 4,937.52 ========= TOTAL LIAB. / SHAREH. EQUITY 7,091.91 REVENUE 2,621.52 PROFIT AFTER TAX 415.08 |
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SALES |
US$ 0.00 () |
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FINANCIAL
SITUATION |
B: FAIR Despite no individual balance sheets were available, the Company is economically supported by its owner. It is known that the Company operates without problems. |
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Property of
company comments |
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They include: - Office furniture and fixtures - Computers - Vehicles |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS(Confidential Information) |
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TRADE REFERENCES |
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Note : Other suppliers did not provide information or could not be consulted |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.05 |
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1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.