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COMPANY PRESENTATION

Soonita Mahadea is a subcontractor in the construction and transport industry, mostly involved in the transportation and supply of spoils (“Grabeaux”). She is also involved in the cutting and clearing of plots of land for real estate development. Soonita started operating in the transport sector with a van in 2001 but rapidly grew in size and operations. With a strong entrepreneurial drive and a bold vision, Soonita bought a truck  and acquired valuable experiences which eventually led her to the apex of her operations, managing a fleet of 15-20 trucks. Soonita currently owns 4 trucks and now undertakes projects at her own individual level together with family members.

Throughout the years by virtue of her good faith and consistent quality standards, Soonita has developed long lasting relationships among key players in the construction sector. Today, her main clients are BCE, CEAL, ESP Landscapers (ENL) and more recently Omnicane for whom she transports sugar cane.  As for the provision of materials “Grabeaux” , these are sourced from different suppliers ranging from UBP to Betonix.

Soonita was also involved in the development of Bagatelle (sub-contractor with COGIR ) and has worked extensively with the Moka Smart City, around the Helvetia area; both projects were involved in the clearing and preparation of land. Furthermore, careful consideration is given as to how vegetation and waste are disposed of, as Soonita has permission to access certain dumping ground facilities.

 

PROJECT PRESENTATION

Soonita Mahadea will require the funds as a cash flow requirement partly as a result of delayed payments from debtors due to the Covid-19 crisis. Recently, she has had to inject her own funds into the business and to sustain the operations she is in need of a buffer.

KEY LOAN TERMS

Amount: MUR500,000

Interest Rate: 11%

Duration: 18 months

Loan profile: Monthly Amortizing

For an investment of MUR50,000, monthly repayment to lenders will be MUR3,025.93.

COMMENTS FROM OUR CREDIT TEAM

  • Mrs Soonita has over 15 years of experience in the current business.
  • Succession already in place with her son.
  • Favourable closing bank balance.
  • Clients include well-established companies such as BCE, CEAL, ESP Landscape, Omnicane.
  • Concern currently owns 4 trucks

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KEY FIGURES

MUR
FINANCIAL ELEMENTS – INDICATIVE
Indicative gross margin More than 20%
Indicative net margin More than 10%
Indicative stock over (times per year) More than 6 times per year
Debt level Fairly High
Indicative turnover level (MUR) 7,000,000

THE TEAM

Soonita is an entrepreneur with a stoic mentality and prides herself in finding a solution to every problem that arises. She operates together with the help of her husband and his son who studied heavy duty mechanics, bringing in technical proficiency along with increased synergy to the family business. Soonita employs 2 drivers and 2 handymen.

Soonita attributes most of her success to pure honesty and the relationship she has developed with her clients and the trust that they place in her.

 

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