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MIRA INFORM REPORT
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Report No. : |
503724 |
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Report Date : |
20.04.2018 |
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 from India and South East Asia. |
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No. of Employees : |
35 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 2018 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities. Demand for resources and energy from Asia and especially China has stalled and sharp drops in current prices have 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 benefited from a dramatic surge in its terms of trade in recent years, although this trend has reversed 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 WTO, APEC, the G20, and other trade forums. Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, 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 10 ASEAN countries and China, Japan, Korea, New Zealand and India.
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Source
: CIA |
Company
NAME
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 |
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EXECUTIVE
SUMMARY
For the last financial year ended 30 June 2017 the subject trade
profitably and recorded revenue of $24,000,000 to $25,000,000.
On a projected basis a 15 percent growth in trading is forecast
for the current financial year ending 30 June 2018.
The subject maintains access to a financing facility with its
bankers which has a $1,500,000 credit limit.
CORPORATE
SEARCH
Company Type Australian
Proprietary Company
INCORPORATED 19
April 2006
REGISTERED ADDRESS 1,
5 Graham Rd
CLAYTON
SOUTH, VIC 3169
SHARECAPITAL $1,200
SHAREHOLDERS METLAPALLI,
Murali Holds 432 shares
KONDURU,
Venkata Suresh Holds 432 shares
KAUMANU,
Saloman Raju Holds 216 shares
NAYER,
Rohit Holds 120
shares
DIRECTORS METLAPALLI,
Murali
8
Milton Pde
MALVERN
VIC 3144
KONDURU,
Venkata Suresh
45
Nyah St
KEILOR
EAST, VIC 3033
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.
BUSINESS STRUCTURE
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 35
BACKGROUND
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.
OPERATIONS
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.
ADVERSE
A search of on 17 April 2018 failed to trace any litigation listed
against the subject at that date.
FINANCES
The subject is not required to lodge financial statements with the
Australian Securities and Investments Commission.
During the current investigation contact with Director Murali
Metlapalli was unable to be established.
Previous investigations have revealed that for the last financial
year ended 30 June 2017 the subject trade profitably and recorded revenue of
$24,000,000 to $25,000,000. This compares to revenue of $21,000,000 for the
previous corresponding year ended 30 June 2016.
On a projected basis a 15 percent growth in trading is forecast
for the current financial year ending 30 June 2018.
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.
For the year ended year ended 30 June 2014 the subject traded
profitably and recorded revenue of close to $20,000,000.
The subject maintains access to a financing facility with its
bankers which has a $1,500,000 credit limit.
TRADE SURVEY
Trade payment records from further sources in the past 4 months
have traced the following data for the subject.
Total Owing: $58,397
Total Past Due: $49,389
Average Late Payment Days:
36
All Industries Late
Payment Days: 9
Within terms: $8,128
1 – 30 days past due: $1,367
31 – 60 days past due: $5,251
61 – 90 days past due: $5,313
91+ days: $37,308
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.78 |
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1 |
INR 93.42 |
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Euro |
1 |
INR 81.39 |
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AUD |
1 |
INR 50.88 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.