MIRA
INFORM REPORT
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Report Date : |
11.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
DARSHAN INTERNATIONAL |
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Registered Office : |
#125, 2nd Main,
Chamrajpet, Bangalore – 560018, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1987 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRD02089D |
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Legal Form : |
A partnership concern with an unlimited liability of the
partners. |
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Line of Business : |
Manufactures, Traders and Exporters of Agarbathies, Incense Sticks and
Perfumes, etc. |
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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Maximum Credit Limit : |
USD
80000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are fair. Financial
positions is good. Payments are correct and as per commitments. The
concern can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
#125, 2nd Main,
Chamrajpet, Bangalore – 560018, Karnataka, India |
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Tel. No.: |
91-80-26606771/26622150 |
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Mobile No.: |
91-9845147000 |
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Fax No.: |
91-80-26500003 |
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E-Mail : |
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Website : |
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Area : |
3000
sq. ft. |
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Location : |
Owned |
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Branches
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Kerala #38/2988A, FR.Manual road,
Kathrikadavu, Kaloor, Cochin - 17, Kerala Phone : 91-484-2344961 Patna M/s Shiv Shakthi Enterprises C/o Darshan Sales
International Gate# 3, Shalimar Cold Storage
Campus, New Bypass road, Anishabad, Patna Phone : 91-612-2256571 Siliguri M/s Dynamic Marketing, Nehru
road, Siliguri - 734405 Phone : 2422526 Calcutta #18, Mitra lane, Behind Mahajati Sadan,
C.R.Avenue, Kolkata – 560007 Phone : 91-33-22197795 Guwahati Room# 423 / 424, 3rd floor,
Barooah Market, T.R.Phookan road, Guwahati, Assam Phone : 91-361-2592761 |
PARTNERS
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Name : |
Mr. T. S. Ashok |
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Designation : |
Partner
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Mobile : |
91-9845147000 |
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Date of Birth/Age : |
25
Years |
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Qualification : |
Graduate
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Experience : |
15
Years |
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Name : |
Mr. T. S. Harsha |
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Designation : |
Partner
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Tel No. : |
26563537 |
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Date of Birth/Age : |
33
Year |
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Qualification : |
Graduate |
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Experience : |
12
Years |
BUSINESS DETAILS
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Line of Business : |
Manufactures, Traders and Exporters of Agarbathies, Incense Sticks and
Perfumes, etc. |
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Products : |
Incense Sticks, Dhoop Sticks, Flora
Sticks and cones |
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Exports to : |
The
concern exports to nearly 25 countries. Its important market is in South
American Countries, North American Countries, Italy, Spain, Northern American
Countries and South East Asia |
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Terms : |
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Selling : |
L/C or Cash (60 days) |
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Purchasing : |
L/C or Cash (60 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
110 |
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Bankers : |
Standard
Chartered Bank |
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Facilities : |
Packing
Credit Rs. 10.000 Millions |
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Banking Relations : |
Good |
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Associates/Subsidiaries : |
Ashoka Trading Company, Bangalore Established in : 1945 Manufacturer, Traders and Exporters of Adarbathies, Incense Sticks and
Perfumes, etc. |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
20.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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150.000 |
120.000 |
Expected
Sales for March 2007 Rs. 210.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference
Mr. G. D. Kelkar
S. H.
Kelkar and Company Limited, Mumbai
Mr.
Satish Gandhi
Allied
Chemicals India Private Limited
Mumbai
Darshan
International is one of India's leading manufacturer, exporter and supplier of
high quality incense sticks and allied products. The incense sticks
manufactured and exported by the company are available in a wide variety of
fragrances, from floral to fruit based scents, and from masala scents to their
very own special blends. The incense sticks being manufactured by the company
are sure to fill the environment with lovely fragrances and scents.
The
incense sticks of the company are all hand made of pure natural ingredients by
traditional methods to give the customers one of the best fragrant experiences
from India. These sticks are eco friendly and give a much better fragrance
spread than the sawdust based type sticks made in India.
Variety
has always been the trademark of Darshan International. This has been achieved
through innovation and huge investments in Research & Development. The
company's products can be used to scent the air in living rooms, bedrooms,
kitchens. As manufacturers & suppliers, the company's efforts and
dedication are reflected in the exquisite quality of their incense and scented
sticks.
It is
the unifying force of this group which is making waves as manufacturers &
suppliers in the incense sticks & perfumery industry.
All the
incense sticks manufactured by the company are in 9 inches length, but the
company can make sticks for its clients from 6 inches to 16 inches. These
sticks are available in 50 fragrances with different flavours which are made of
natural oils, aromas.
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Company
Profile |
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Business
Type |
Exporter
, Manufacturer |
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Export
Percentage |
35% |
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No of
Staff |
100 |
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Year
of Establishment |
The
company was established in the year 1987. |
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No of
Production Lines |
The
company has three production units manufacturing its range of agarbathis and
incense sticks. |
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Export
Markets |
The
company's export markets comprise of markets in North Africa, South East
Asia, China and Taiwan. |
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Monthly
Production Capacity |
4000
Master cartons per month ie.,2.4 million boxes per month. |
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Memberships |
All
India Agarbathi Manufacturers Association, Indo Arab Chamber of Commerce,
Export Promotion Council of India. |
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Credit
Rated |
No |
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.45.16 |
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UK
Pound |
1 |
Rs.85.99 |
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Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
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
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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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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