MIRA
INFORM REPORT
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Report Date : |
24.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SANDESH AGARBATTI COMPANY |
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Registered Office : |
9,10, 7th Main road, J.C. industrial Estate, Kanakapura Main
Road, P. B. No. 1801, Bangalore – 560062, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Subject is a partnership concern with Unlimited Liability in the
Partners. |
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Line of Business : |
Manufacturer & Exporter of Incense Sticks Agarbattis, Dhoop,
Sticks and Incense Cones. |
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 128000 |
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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.
Partners are reported as experienced, respectable and resourceful businessmen.
Their trade relations are fair. Nothing adverse reported. Payments are
usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
9,10, 7th Main Road, J.C. Industrial Estate, Kanakapura
Main Road, P. B. No. 1801, Bangalore – 560062, Karnataka |
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Tel. No.: |
91-80-26666477/ 74 |
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Fax No.: |
91-80-26669688 |
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E-Mail : |
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Website : |
http://www.grinsense.com |
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Area : |
Owned By concern |
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Factory 1 : |
9,10, 7th Main road, J.C. industrial Estate, Kanakapura Main
Road, P. B. No. 1801, Bangalore – 560062, Karnataka |
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Area : |
+25000 Sq. fts. |
PARTNERS
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Name : |
Mr. D.P. Shoban Babu |
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Designation : |
Partner |
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Mobile : |
91-9845022553 |
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Date of Birth/Age : |
33 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Name : |
Mrs. D.S. Sumathi |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Shoban Babu |
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Designation : |
Chief Executive Officer |
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Mobile : |
91-9845022553 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer & Exporter of Incense Sticks Agarbattis, Dhoop,
Sticks and Incense Cones . |
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Products : |
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Brand |
G.R. International is a brand for their products. |
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Exports : |
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Products : |
Incense Stick |
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Countries : |
USA, Europe, Japan, Africa, Far East |
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Terms : |
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Selling : |
L/ C |
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Purchasing : |
Cash, Credit (30 Days ) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Group 140 |
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Bankers : |
Chamrajstreet Branch, Bangalore Facility :
Credit Limit RS.12.000 Millions
Sarakki Branch, Bangalore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Varad Raju Associates Chartered Accountant |
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Associates : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 Millions |
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Borrowed : |
Rs.12.000 Millions |
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Total : |
Rs.32.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
172.000 |
142.000 |
146.000 |
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Export Value |
75 % |
75 % |
75 % |
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Expected Sales (2007-08) : Rs.300.000 Millions
LOCAL
AGENCY FURTHER INFORMATION
Web Details Attached
The company has been leading the industry as manufacturer and exporter of the finest
incense and fragrance products in the world. Based in India, the land of
traditional excellence in fragrance, The company is spreading a rich collection
of Scented incense sticks, Agarbattis, Dhoop sticks and Incense cones
across the globe.
"It’s mission as a business unit is to create fragrant
environments of as many varieties as possible to suit as many tastes and
deliver the highest quality of products making them synonymous to
quality."
The Company is a reputed member of All India Agarbathi Manufacture
Association and actively participate in incense manufacturers forum around the
world
.Background
With decent beginning as a small cottage industry in 1970, The company came to
the forefront in manufacturing and exporting incense and fragrance products.
Their founder, Mr. D.N.P. Guptha,
the man with a strong creative vent of mind, experimented endlessly and dabbled
in creating newer fragrances, and pursued refining the aroma until the right
strength is achieved.
The business commenced with a small group to hand roll the
incense sticks and laid high emphasis on quality. Since then, GR incense sticks
has gained popularity and today maintains a bouquet of about 250 unique
fragrances that are regarded as a lifestyle consumable around the globe.
Their fragrance formulations are the best in the industry.
Quality and R & D
The company invest heavily on their workforce and R&D.
Infact, that is the reason why it’s products are unmatchable. Their mass
production capacity is enviable. The company has capacity to handle any amount
of stock movement and anticipate demands.
Future Plans
The CEO Mr. Shoban Babu’s current agenda is to make
available its products in every nook and corner of the globe, and be patronized
by more customers. Currently, there has been a formidable quantities of exports
to countries like USA, UK, Brazil, Columbia, Argentina, Portugal, Mexico,
Chile, Australia, New Zealand, West Indies etc. in regular quantities. Now,
GR International is building a network of business associates and invites
interested organizations to become our business associates and reap good
profits.
Vision
It’s singular vision is to become No.1 exporter of incense
and spread the GR fragrance to as many countries as possible.
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.41.64 |
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UK Pound |
1 |
Rs.83.11 |
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Euro |
1 |
Rs.56.46 |
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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