|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAM FOUNDATION |
|
|
|
|
Registered
Office : |
S.S. Dominics Building No.-24, Pammal Thiruneermalai Main Road, Voc
Nagar, Pammal, Chennai – 600075, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials as on
: |
31.03.2014 |
|
|
|
|
Year of Establishment
: |
1994 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
TIN No.: |
33131391970 |
|
|
|
|
Legal Form : |
NGO – Section 25 Company Under the Indian Companies Act. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Organic Products. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established entity having satisfactory track. Trade relations are fair. Business is active. Payments terms are
reported to be usually correct. The entity can be considered normal for 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
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. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
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 Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 (GENERAL DETAILS)
|
Name : |
Ms. Kamalalochini |
|
Designation : |
Research Assistant |
|
Contact No.: |
91-44-22485955 |
|
Date : |
24.05.2014 |
LOCATIONS
|
Registered Office / Factory : |
S.S. Dominics Building No.-24, Pammal Thiruneermalai Main Road, Voc
Nagar, Pammal, Chennai – 600075, Tamilnadu, India |
|
Tel. No.: |
91-44-22485955 |
|
Mobile No.: |
91-9629999184 (Mr. Mangalam Bala Subramaniam) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Mangalam Bala Subramaniam |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Balasubramanian |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Kamalalochini |
|
Designation : |
Research Assistant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Organic Products. |
|
|
|
|
Products : |
· Dustbin · Cash Bag |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
Other NGOs and Corporate |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
State Bank of India, Pammal, Chennai, Tamilnadu, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raghavan Associates Chartered Accountants |
|
Address : |
Chennai, Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[All figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
30.000 |
|
|
|
|
|
The above information has been parted by Ms. Kamalalochini (Research
Assistant).
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 |
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 |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
ABOUT SAM FOUNDATION
1. Mrs. Mangalam Balasubramanian - Managing Director Sam Foundation and Founder and managing trustee of Exnora Green Pammal, Ms. Mangalam Balasubramanian holds master's degrees in nutrition, sociology and Hindi, and a doctorate in nutrition. From 1971 to 1984 she worked as chief nutritionist for USAID in India, coordinating their maternal and child health (MCH) nationwide programme. In 1984, she joined Indian Social Institute, New Delhi, as director of their women's development programme. From 1985 to 2003, she worked for DANIDA as a senior programme officer for primary health care projects, and as chief advisor to the Tamil Nadu Women in Agriculture Programme which trained 6,00,000 women marginal farmers. From 2003 to 2005, she served as a resource person for the Tamil Nadu Empowerment and Poverty Reduction Project and as an agricultural consultant for the Tamil Nadu Corporation for the Development of Women, responsible for designing and implementing agricultural training for 25,000 women farmers. She has published several books, including Nutrition Education Programme
2. Mr. Balasubramanian – Director – He is deeply involved in Sam foundation and in Exnora Pammal and is their communication specialist.
The firm is a section 25 company ( Section 25 companies are those companies which are formed for the sole purpose of promoting commerce, art, science, religion, charity or any other useful object and have been granted a license by the central government recognizing them as such. Thus, there are three criteria for determining whether a particular company is section 25 company or not: 1) Its objects should be only to promote commerce, art, science, religion, charity or any other useful object. 2) It should intend to apply its profits or other incomes only in promoting its objects; and 3) Central government should have granted a license to such a company recognizing them as such, these types of companies can be either public company or private company having a limited liability.)
SAM Foundation for Eco Friendly Environment is a section 25 company having its registered office of the Company in Pammal Chennai has been promoted to impart knowledge on the methods, procedures and techniques of waste management, waste disposal, and pollution control and maintain clean and healthy environment.
· The Foundation has been established to provide technical know-how, render consultancy services and prepare overall project plans/studies for government bodies, companies, corporations, corporate houses with special reference to waste disposal and to impart training to personnel from the above fields.
· The Foundation is equipped to take up turnkey services for air pollution control, waste water treatment, safe disposal of municipal solid waste and other pollution control mechanisms for industries, factories, etc. and establishments requiring product recovery, waste management and other similar services.
· Vision: Community’s solid and liquid wastes minimized by reducing waste generation and by exemplary decentralized recycling and composting services.
· Mission: SAM Foundation’s mission is to minimize solid and liquid wastes in communities by advocating and demonstrating the principles of “Reduce, Recycle and Reuse” with peoples participation.
· Their Services: Provide cost efficient environmentally sound waste recycling programmes.
· Provide consultancy services in preparation of detailed project plans, execution of projects and operation and maintenance services.
· In order to demonstrate the concept of waste recycling and better utilization of municipal solid waste management a pilot waste to energy plant has been installed with indigenous technology and machinery supplied by a Kerala entrepreneur. The technology adopted is a low cost biomethanisation technology which is eco-friendly and sustainable. Biogas is being generated from kitchen waste which in turn is converted to electricity using a 100% biogas engine which is sufficient to light up 50 street lights. The slurry which is generated after biomethanisation is a useful end product which is being used as good source of organic manure. Electrical energy produced is clean and green energy which can complement the conventional energy thereby reducing pollution. The excess biogas produced is being used as a clean fuel in the canteen and it is replacing LPG. Such initiatives of SAM Foundation will help many institutions to scale up and this is being modeled as a business /entrepreneur unit which can be easily replicated. The strength of this project is the ease with which it can be replicated and can be managed with very limited manpower and with little or no maintenance involved.
· Decomposing garbage in dumpsites is estimated to produce a third of India’s climate changing methane gas. By collecting kitchen waste and processing it in a Biogas digester, we capture gas that would otherwise warm the climate.
· SAM Foundation’s initiative can bring about effective partnership between the Foundation and several institutions like the Commercial Canteens, Big Hotels, Hostels, Eating Houses, etc. where waste disposal is not only a problem but a nuisance too.
· A core team of dedicated and committed young professionals trained in this field executes the entire project.
Both the directors have received many awards and prizes for the relentless pursuit of waste management and are very eager to go commercial so that many institutions and establishment can benefit out of it.
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 records 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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
47 |
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.