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Report No. : |
328395 |
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Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
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Name : |
INDYA FOODS PTY LTD |
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Registered Office : |
1, 5 Graham Rd, Clayton South, Vic 3169 |
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Country : |
Australia |
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Date of Incorporation : |
19.04.2006 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the import and wholesale of ethnic food products |
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No of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Australia |
A1 |
A1 |
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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 |
AUSTRALIA ECONOMIC OVERVIEW
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2015 facing a range of growth constraints, principally driven by a sharp fall in global prices of key export commodities. Although demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports, sharp drops in current prices have already impacted growth. The services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, although this trend could reverse or slow due to falling global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, 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 is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia entered into free trade agreements (FTAs) with the Republic of Korea and Japan, and concluded an FTA with China, in 2014, adding to existing FTAs with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with India and Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the ten ASEAN countries and China, Japan, Korea, New Zealand and India. Australia is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
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Source
: CIA |
INDYA FOODS PTY LTD
ACN: 119 324 382
ABN: 64 119 324 382
Summary Panel
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Established |
2006 |
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Incorporated |
2006 |
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Line of Business |
Import
and distribution of food products |
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Status |
Trading |
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Chief Executive Officer |
Murali
Metlapalli |
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Adverse Listings |
Nil |
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For the last financial year ended 30 June 2014 the subject traded
profitably and recorded revenue of close to $20,000,000.
On a projected basis, a 30% growth in operations is forecast for the
current financial year ending 30 June 2015.
The subject maintains a financing facility with its bankers which has a
$1,500,000 limit. This facility is drawn to $1,000,000.
Fixed assets include motor vehicles, plant and equipment, furniture and
fixtures valued at $1,500,000.
Company Type Australian Proprietary
Company
INCORPORATED 19
April 2006
REGISTERED ADDRESS 1, 5
Graham Rd
CLAYTON
SOUTH, VIC 3169
SHARECAPITAL $1,000
SHAREHOLDERS METLAPALLI,
Murali Holds 400 shares
KONDURU,
Venkata Suresh Holds 400 shares
KAUMANU,
Saloman Raju Holds 200 shares
DIRECTORS METLAPALLI, Murali
77,
416A St Kilda RD
MELBOURNE,
VIC 3004
KONDURU,
Venkata Suresh
9
Douglas Court
LATONA
MEADOWS, VIC 3028
KAUMANU,
Saloman Raju
3,
4 Jolly St
DANDENONG,
VIC 3175
SECRETARY METLAPALLI,
Murali
SECURITY INTERESTS Effective
30 January 2012 the Personal Property Securities Register (PPSR) was introduced to give the different
Commonwealth, State and Territory laws and registers regarding security
interests in personal property under one national system.
As a result of PPS Reform a number of existing Commonwealth, State and Territory personal property security registers will close. Interests registered on existing security interest registers will be migrated to the national PPS Register. Subsequently Registered Charges are no longer lodged with the Australian Securities and Investments Commission (ASIC).
Please contact us should you require a search of the PPSR.
TRADING ADDRESS 3-5
Graham Rd
CLAYTON
SOUTH, VIC 3169
TELEPHONE (613) 9548 1122
FACSIMLE (613)
9548 1144
MOBILE 0421 239
360
WEBSITE www.indyafoods.com.au
BRANCHES WETHERILL PARK NSW
ADELAIDE, SA
PERTH WA
BANK ANZ BANKING GROUP
EMPLOYEES 25
The subject was incorporated in Victoria on 19 April 2006 to commence
operations as a new venture.
The subject commenced
operations at Sydney in January 2008 with a total warehousing capacity of
15000sq.ft
In November 2009
the subject commenced operations in Adelaide and Perth.
The subject operates in the import and wholesale of ethnic food products
from India and South East Asia.
Activities are
conducted from premises located at the above listed trading address.
A search of
failed to trace any litigation listed against the subject at that date.
The subject is
not required to lodge financial statements with the Australian Securities and
Investments Commission.
During the current interview conducted with Director Murali Metlapalli
he advised that for the last financial year ended 30 June 2014 the subject
traded profitably and recorded revenue of close to $20,000,000.
On a projected basis, a 30% growth in operations is forecast for the
current financial year ending 30 June 2015.
For the year ended 30 June 2012 the subject traded profitably and recorded
revenue of $12,000,000.
For the year ended 30 June 2011 the subject recorded revenue of
$10,000,000. This compares to revenue of $9,000,000 to $10,000,000 for the
previous corresponding year ended 30 June 2010.
For the financial year ended 30 June 2007, the subject traded profitably
and recorded revenue of $3,000,000.
Current assets include stock on hand of $4,500,000 and receivables of
$4,000,000 to $4,500,000.
The subject maintains a financing facility with its bankers which has a
$1,500,000 limit. This facility is drawn to $1,000,000.
Current liabilities include creditors of $2,000,000.
Fixed assets include motor vehicles, plant and equipment, furniture and
fixtures valued at $1,500,000.
A trade survey on the subject traced the following accounts:
1.
(Scalzo) Nominated supplier declined to provide a
reference owing to company policy.
2.
(Been Growers) Nominated supplier failed to respond
to correspondence despite chasing.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 63.60 |
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|
1 |
Rs. 100.09 |
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Euro |
1 |
Rs. 71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
RSM |
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Report Prepared
by : |
DPT |
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 |
-- |
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.