MIRA
INFORM REPORT
|
Report Date : |
20.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
NEERU
ENTERPRISES |
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Registered Office : |
6
Saleem Manzil, Civil Lines, Rampur-244901, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1978 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers,
Suppliers and wholesale Exporters of Mentha Oil, Essential Oil and Aroma
Chemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments
are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
6
Saleem Manzil, Civil Lines, Rampur-244901, Uttar Pradesh, India |
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Tel. No.: |
91-595-2350829 |
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Mobile No.: |
91-9837022285 |
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Fax No.: |
91-595-2350023 |
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E-Mail : |
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Area : |
5000
sq.mt. |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr.
Vishal Kapur |
|
Designation : |
Proprietor |
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Address : |
Rampur |
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Date of Birth/Age : |
49
years |
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Qualification : |
Graduate |
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Experience : |
20
years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers,
Suppliers and wholesale Exporters of Mentha Oil, Essential Oil and Aroma
Chemicals |
|
|
|
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Products : |
Menthol,
Chemical and Raw Material |
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|
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Exports to : |
U.S.A.,
U.K., China, Hongkong, Taiwan and Europe |
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Imports from : |
China |
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Terms : |
|
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Selling : |
L/C,
Cash, Credit (30 days) and Sight |
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Purchasing : |
L/C,
Cash, Credit (30 days) and Sight (against documents) |
GENERAL
INFORMATION
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Customers : |
Local
and Foreigners, Retailers, End Users |
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No. of Employees : |
66 |
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Bankers : |
Allahabad
Bank International
Branch, Moradabad |
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Facilities : |
Rs.20.000
millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
Rajkumar
and Company Chartered
Accountant Rampur |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.10.000
millions |
|
Borrowed : |
-- |
|
Total : |
Rs.10.000
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
247.000 |
237.500 |
200.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
References – Local (along with address):
Ø
Shanghai
Weaxiang and Flavours Company
Ø
Yinca
Limited, Hong Kong
Web
Site Details :
Profile
Over the
years, India has emerged as the Land for Mint and the state of Uttar Pradesh
has led the way from inception. They have zealously worked ever since to emerge
as a dependable manufacturer, supplier and exporter of quality products.
They
have a strong supply base of farmers with whom they have worked for many years.
Sizeable
exports year after year has led the Indian Government to recognize them as an
Export House, bestowing on them the privileges that go with it. They have had
the pleasure of closely working with many reputable importers all over the
world and gaining significant export business. Their strength has been
consistent quality and adhering to meet on-time customer deadline. They have
built up production capacity to produce 800 metric tons Menthol and have been
awarded recognitions by both bodies. The Government of India has given them an
award for being the largest manufacturer and exporter of Menthol in the state
of Uttar Pradesh.
Products:
Mentha Oil and its products
Ø
Peppermint
Oil (l- Menthol -88%)
Ø
Natural
Crude Mentha Oil (I-Menthol-72% and TMC-78%)
Ø
Dementholised
Oil Crude (I-Menthol- 38% and TMC-50%)
Ø
Menthol
Powder(I- Menthol – 96% and TMC-97%)
Ø
Natural
Menthol Large Crystals BP/USP
Ø
Natural
Menthol Small Crystals BP/USP
Ø
Menthone
90% to 98%
Ø
Menthone
95:5
Ø
Menthone
90:10
Ø
Menthone
80:20
Ø
Mint
Terpene 98%
Ø
Peppermint
Oil without Terpene
Ø
(l-Menthol-38%
and TMC – 55% Neo Menthol less than –7%)
Ø
Natural
Menthol Crystals I.P.
Ø
Menthol
Powder Dry BP/USP
Ø
Cis-3-Hexenol
50% to 98%
Ø
Cis-3-Hexenyl
Acetate 95%
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.99 |
|
UK
Pound |
1 |
Rs.85.34 |
|
Euro |
1 |
Rs.57.63 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--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 |
|
--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 |
|
TOTAL |
|
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
|
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have
no basis upon which to recommend credit dealings |
No Rating |
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