MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
COMBII ORGANOCHEM PRIVATE LIMITED |
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Registered Office : |
803, Mercantile House, 15 K.G. Marg, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.04.1976 |
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Com. Reg. No.: |
008140 |
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CIN No.: [Company
Identification No.] |
U74899DL1976PTC008140 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC06945B |
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PAN No.: [Permanent
Account No.] |
AAACC2347K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of natural cosmetic products like
hair conditioner, facial moisturizer, acne care cosmetics, sunscreens and
corrugated boxes, jars and caps, pet bottles, plastic bottles. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 72004 |
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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 and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
803, Mercantile House, 15 K.G. Marg, |
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Tel. No.: |
91-11-23706095 / 23706096 |
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Fax No.: |
91-11-23313473 |
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E-Mail : |
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Website : |
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Factory 1 : |
33, DSIDC Sheds, Scheme – 3, Okhla Industrial Area, Phase – 2, |
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Tel. No.: |
91-11-26387845 / 26386496 |
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Fax No.: |
91-11-26385090 |
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Factory 2 : |
A – 14 / 2, UPSIDC Industrial Area, Bhimtal, Dist., Nainital,
Uttranchal, |
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Tel. No. : |
91-5942-248282 / 91-5942-247825 |
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Fax No. : |
91-5942-248281 |
DIRECTORS
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Name : |
Shri. Anil Khanna |
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Designation : |
Managing Director |
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Address : |
D – 199, Defence Colony, |
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Date of Appointment : |
01.04.1976 |
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Name : |
Smt. Veena Khanna |
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Designation : |
Director |
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Address : |
D – 199, Defence Colony, |
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Date of Appointment : |
01.05.1981 |
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Name : |
Shri. Pawan Pershad |
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Designation : |
Director |
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Address : |
J – 14, Hauz Khas, |
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Date of Appointment : |
01.04.1976 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shri Anil Khanna |
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16,900 |
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Shri Pawan Pershad |
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200 |
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Smt. Veena Khanna |
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3900 |
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Category |
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Percentage of
Holding |
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Directors or relative of directors |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of natural cosmetic products
like hair conditioner, facial moisturizer, acne care cosmetics, sunscreens
and corrugated boxes, jars and caps, pet bottles, plastic bottles. |
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Products : |
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Natural Haircare Products v Herbal Shampoo v Hair Conditioner v Hair Oil v Hair Gel v
Natural Skincare Products v Herbal Scrub v Astringent v Skin Tonic v Cleansing Milk v Body Oil Cream and Lotion v
Face Pack and Natural
Cosmetics v Under eye gel/cream v Facial moisturizer v Cold Cream v Papaya scrub v Sandalwood soothing gel v Papaya face pack v Sunscreen 25 spf v Natural aloe vera gel v Actizyme-herbal hair retarder v Shower gel scrub Skin Care Products v Scrub v Skin Tonic v Cleansing Milk v Body Oil v Cream v
Face and v Face Pack |
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Exports: |
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Countries : |
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GENERAL INFORMATION
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Suppliers : |
Guest Toiletries to the hotel industry in |
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Customers : |
♠ The Oberoi Hotels and Resorts Chain ♠ Welcomgroup-Sheraton Chain ♠ Radisson Hotels ♠ Marriot ♠ Park Royal ♠ Mansing Group ♠ Manhindra Resorts ♠ Yak and Yeti ♠ Palace on Wheels ♠ Hotel Intercontinental ♠ Nikko Hotels, etc. |
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No. of Employees : |
50 |
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Bankers : |
♠
State Bank of ♠
HSBC Bank ♠
Punjab National Bank ♠
State Bank of Limited ♠
HDFC Bank Limited |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
R Nanda and Company Chartered Accountants |
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Address : |
1212, |
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Tel. No.: |
91-11-23314687 |
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Associations : |
v Combii Chem v
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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21000 |
Equity Shares |
Rs.10/- each |
Rs.0.210
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.210 |
0.210 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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17.791 |
11.727 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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18.001 |
11.937 |
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LOAN FUNDS |
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1] Secured Loans |
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2.276 |
0.623 |
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2] Unsecured Loans |
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0.142 |
0.142 |
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TOTAL BORROWING |
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2.418 |
0.765 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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20.419 |
12.702 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.942 |
7.702 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.126 |
0.168 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.653 |
1.609 |
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Sundry Debtors |
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4.644 |
3.943 |
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Cash & Bank Balances |
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6.744 |
2.516 |
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Other Current Assets |
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1.020 |
1.112 |
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Loans & Advances |
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0.032 |
0.387 |
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Total
Current Assets |
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16.093 |
9.467 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.952 |
3.685 |
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Provisions |
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0.790 |
0.950 |
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Total
Current Liabilities |
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5.742 |
4.635 |
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Net Current Assets |
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10.351 |
4.832 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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20.419 |
12.702 |
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PROFIT & LOSS
ACCOUNT
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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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22.009 |
15.950 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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22.009 |
15.950 |
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Profit/(Loss) Before Tax |
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6.999 |
4.042 |
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Provision for Taxation |
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0.935 |
0.000 |
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Profit/(Loss) After Tax |
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6.064 |
4.042 |
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Expenditures : |
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Cost of Goods Sold |
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Manufacturing Expenses |
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Administrative Expenses |
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Raw Material Consumed |
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Purchases made for re-sale |
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Consumption of stores and spares parts |
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Increase/(Decrease) in Finished Goods |
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Salaries, Wages, Bonus, etc. |
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15.010 |
11.908 |
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Managerial Remuneration |
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Payment to Auditors |
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Interest |
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Insurance Expenses |
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Power & Fuel |
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Depreciation & Amortization |
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Other Expenditure |
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Total Expenditure |
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15.010 |
11.908 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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27.55 |
25.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
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31.80 |
25.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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36.88 |
23.54 |
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Return on Investment (ROI) (PBT/Networth) |
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0.38 |
0.33 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.31 |
0.38 |
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Current Ratio (Current Asset/Current Liability) |
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2.80 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
PROFILE
Ayurveda is an
in-depth science of man, his physiology, disease, and natural and derived substances
of the plant mineral and animal world, and their reaction & interaction
with man. It is based on extensive experimentation spread over thousands of
years. Beauty with nature is becoming the call of today’s toxic and polluted
environment, therefore treatments, which restore natural health to skin and
hair become essential in our daily life.
Mr. Anil Khanna (Managing Director) started the company in
1978, in association with Combii Chem
HERBLINE product range evolved after
extensive research and experimentation on the potent healing, curative and
corrective properties of herbs, their extracts and oils, on the skin and hair
as laid down in Ayurveda. To marry these properties with the latest
international dermatologically approved standards, association was obtained
with Stanford Brands UK. The products are manufactured as per
Subject’s philosophy of “activating the body to help itself”, so that healing
and correction take place from within, giving long lasting and satisfying
results, is behind the USP of the HERBLINE range of products. HERBLINE is an
exotic combination curative healing and corrective properties of herbs in the
form of easy to use products – hair care and skin care. Rich with the
properties of pure oriental herb extracts, it is a complete concept of
Ayurveda.
HERBLINE products are not tested on animals and packaging uses recyclable
materials. The company was honored at the “World Quality Commitment” forum
(1999) in
Breif About
the CEO/Managing Director
Mr. Anil Khanna, Managing Director of Combii Organochem Pvt. Ltd., has spent 23
years in the field of Research and Application of Botanical and Mineral
Materials on the human body.
Mr. Khanna trained as
an Engineer at the
When he joined Glaxo Laboratories and marketed the Food
& Health Products of their family Products Division, where he undertook
training in basic Human and Physiology and Dermatology. His learning in the
field of plant materials increased during his tenure as a consultant with
Turcon
He started his own venture, Combii Organochem Pvt. Ltd.,
in the year 1978, in association with Combii Chem
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.41.01 |
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1 |
Rs.81.39 |
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Euro |
1 |
Rs.55.30 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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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 |
YES |
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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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72 |
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. |
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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