MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AMRUT INTERNATIONAL |
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Registered Office : |
17, Shetrunjay Apartment, Near |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and exporter
in the field of food and beverage industry. |
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 16000 |
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Status : |
Satisfactory |
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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 concern having satisfactory track.
Partners 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 concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
17, Shetrunjay Apartment, Near |
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Tel. No.: |
91-79-27560210 |
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Mobile No.: |
91-9898580067 |
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Fax No.: |
91-79-27560963 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mukesh Mehta |
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Designation : |
Partner |
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Date of Birth/Age : |
28 Years |
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Qualification : |
Post Graduate |
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Experience : |
12 Years |
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Name : |
Mrs. Rekha Mehta |
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Designation : |
Partner |
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Date of Birth/Age : |
26 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
exporter in the field of food and beverage industry. |
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Products : |
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Instant Drink Fruit Powder Ø
Instant Drink Fruit Powder (Sugar Free) Ø
Food Color Ø
Vinegar Ø
Rose Syrup Ø
Rose Water & Kewra Water Ø
Squash & Syrups Ø
Cordial Ø
Lemon Juice Concentrate Ø
Salt Fine Iodised & Ø
Fruit Juice Concentrates Ø
Sodium Bi Carbonate Ø
Pickles Ø
Ice-Tea Lemon Ø
Flavouring Essence Ø
Food Coloring Liquid Ø
Jam Ø
Instant Custard Powder Ø
Instant Baking Powder Ø
Concentrated Essences Ø
Concentrated Food Color Liquid/powder Ø
Chocolate Colour Flavour Ø
Honey Ø
Bread Improver Ø
Guar Gum Ø
Liquid Glucose Ø
Corn Flour Ø
Mango Chutney Ø
Vanilla Powder |
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Exports : |
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Products : |
Ø
Instant Drink Fruit Powder Ø
Instant Drink Fruit Powder (Sugar Free) Ø
Food Color Ø
Vinegar Ø
Rose Syrup Ø
Rose Water & Kewra Water Ø
Squash & Syrups Ø
Cordial Ø
Lemon Juice Concentrate Ø
Salt Fine Iodised & Ø
Fruit Juice Concentrates Ø
Sodium Bi Carbonate Ø
Pickles Ø
Ice-Tea Lemon Ø
Flavouring Essence Ø
Food Coloring Liquid Ø
Jam Ø
Instant Custard Powder Ø
Instant Baking Powder Ø
Concentrated Essences Ø
Concentrated Food Color Liquid/powder Ø
Chocolate Colour Flavour Ø
Honey Ø
Bread Improver Ø
Guar Gum Ø
Liquid Glucose Ø
Corn Flour Ø
Mango Chutney Ø
Vanilla Powder |
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Countries : |
UAE, |
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Terms : |
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Selling : |
L/C / Cash (against delivery) |
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Purchasing : |
Cash / Credit (30 – 60 days) |
GENERAL INFORMATION
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Customers : |
Ø
Importers Ø
Industrial Users |
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No. of Employees : |
30 |
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Bankers : |
ICICI Bank, Navrangpura Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gajanand and Associates Chartered Accountants |
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Associates/Subsidiaries : |
Samrat International Address: Line of Business: wholesalers and Exporters of steels |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 – 4.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 3.000 – 4.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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10.000 |
7.000 |
Expected Sales (2008) : Rs. 11.000 – 12.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
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Golden Rice Trading, UAE
Ø
Kerla Food
As per website:
Prelude
Subject is an upcoming manufacturer and exporter in
the field of food and beverage industry. With the help of voluminous experience
of professionals, a determination to succeed and excellent quality, subject is
capable of meeting never-ending demands of the customers at the domestic as
well as the international front. Their endeavors are directed towards attaining
total quality management and they strive hard to adhere to international
standards of quality. The prices of their products are kept reasonable while maintaining
high quality standards to make their range affordable for everyone. Their focus
on quality and good business ethics has earned them a very distinct name
amongst the international buyers.
Their Quality and Infrastructure
Their main strength
is the quality and service they provide to their customers. They have a
well-defined research and development department. It is because of their
R&D department, the company has been able to produce safe and efficacious
products. They have a sound infrastructure equipped with latest and
sophisticated equipment. They have employed a team of experts and engineers for
checking each and every stage of their production processes to ensure high
quality standard of their products. Their management team makes sure that they
are able to maintain their position of leadership in the industry.
Customer Satisfaction
They believe in
total customer satisfaction as customer satisfaction is one of most important
fulcrum of any organization. They also formulate products as per the
specification and need of the customers. Their products are safely packed and
delivered to the clients on time. They are committed to provide quality and
consistency at the best value.
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.41.24 |
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1 |
Rs.82.55 |
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Euro |
1 |
Rs.56.06 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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45 |
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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