MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SWASTHA ORGANIC FOODS |
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Registered Office : |
114, New Ashiana Apartments, Plot No. 10, Sector – 6, Dwarka, New
Delhi – 110 075 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the company. |
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Line of Business : |
Manufacturers and Exporters of Organic Fruits, Vegetables, Pulses and
Spices. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 8000 |
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Status : |
Small concern |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern. 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. |
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LOCATIONS
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Registered Office : |
114, New Ashiana Apartments, Plot No. 10, Sector – 6, Dwarka, New
Delhi – 110 075, India |
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Mobile No.: |
91-9313798177 / 9810400314 |
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E-Mail : |
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Website : |
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Area : |
650 sq.fts |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Sanjay Kak |
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Designation : |
Partner |
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Date of Birth/Age : |
52 years |
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Qualification : |
Post Graduate |
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Experience : |
25 years |
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Name : |
Mr. Shailender Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
30 years |
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Qualification : |
Post graduate |
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Experience : |
5 years |
KEY EXECUTIVES
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Name : |
Mr. Rajiv Bharat |
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Designation : |
Manager |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Organic Fruits, Vegetables, Pulses and
Spices. |
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Products : |
· Organic Cereals (Wheat, rice, Maize, Flours, Amaranthus, porridge (Dalliya), Maida, Sooji, etc · Organic Pulses (Green Gram, Black Gram, Lentil, Bengal Gram, Chickpeas, etc) · Organic Spices – condiments (Fenugreek , Corainder, Cumin, Fennel, Turmeric, Ginger Powder, Blended Spices, Cinnamon, Black Pepper, Clove, Cardamom, Etc) · Organic Vegetables (All seasonal – Indian and English) · Organic Fruits (Apple, Mango, Guava, /Orange, Kinnow, ets) · Organic Cooking Oil and oil seeds( mustard, lentil , Sesame, etc) · Organic Seeds(Cereal, Pulses, Spices, Oilseeds, Vegetables, etc) · Organic Herbs · Canned and bottled Food (Mushrooms, Pineapple, Lychee, Fruit Cocktail, Mango, etc) · Honey products (Natural Honey, Organic Honey, Bee Wax). |
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Exports : |
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Countries : |
Europe, Bangladesh, Singapore, etc |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 150%.
GENERAL
INFORMATION
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Suppliers : |
Cultivated by different farmers. |
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No. of Employees : |
40 |
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Bankers : |
HDFC Bank Limited Address: Dwarka, New Delhi – 110 075, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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10.000 |
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Profit/Loss for the year |
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12% |
Expected Sales (2007-08) : Rs. 20.000 millions.
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Food is the key to their survival. However, they are aware of the fact that the food they eat is adulterated and contaminated, the reason behind this being the use of chemicals, etc. to ripen the fruits and retain the freshness of vegetables. This can prove fatal to their health in the long run, rather than benefiting them. They, Subject, have taken into account these factors and deal in such products stamped with freshness and avoiding the use of chemicals. They are a reputed exporter, supplier, marketing agent and liasoning consultant of a range of organic fruits, vegetables, pulses and spices like Organic Cereals, Organic Pulses, Organic Spices-Condiments, Organic Cooking Oil, Organic Vegetables, Organic Fruits, Natural Products, Oil Seeds, High quality Spices, Canned Food, Bottled Food , Fresh Fruits and Vegetables etc. Majority of people are including organic food and other high end food in their lifestyle. Keeping this factor in mind, they have established their selves with a mission of supplying quality organic food stuff for preserving the health of the people alongwith high end food meeting International food and safety standards.
Products
Their Organic products and other high-end products meet the International food and Safety Standards. Moreover, these enable the food to retain its valuable nutrients. Their original food is worth cherishing. It is great in taste. Their set of authentic food range includes:
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Organic Cereals
(Wheat, Rice, Maize, Flours, Amaranthus, Porridge (Dalliya), Maida,
Sooji etc.)
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Organic Pulses (Green
Gram, Black Gram, Lentil, Bengal Gram, Chickpeas etc.)
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Organic
Spices-condiments (Fenugreek, Coriander, Cumin, Fennel, Turmeric, Ginger
Powder, Blended Spices, Cinnamon, Black Pepper, Cloves, Cardamom etc.)
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Organic
Vegetables (All Seasonal- Indian and English)
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Organic Fruits (Apple,
Mango, Guava, Orange, Kinnow, etc.)
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Organic Cooking
Oil and Oilseeds (Mustard, Lentil, Sesame, etc.)
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Organic Seeds (Cereals,
Pulses, Spices, Oilseeds, Vegetables
etc.)
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Organic Herbs
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Canned and
Bottled Food (Mushrooms, Pineapple, Lychee, Fruit Cocktail, Mango etc.)
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Honey Products (Natural
Honey, Organic Honey, Bee Wax)
They support primarily the contract based farming to ensure the quantity, supply frequency and most significant rates ensuring the best strategy for farmer and the buyer.
Quality
Before marketing their high quality products, they make sure that their
products go through rigorous quality control measures. Their uncompromising
quality yields maximum output. This unsurpassed quality reflects their
commitment to customers, who mean a lot to them.
Setup
They possess sound infrastructure to back their operations. Their dedicated
team of employees, network of distributors and marketing personnel constitute
their state-of-the-art infrastructure. This helps them in forming a strong
foothold in the market.
Why Swastha Organic?
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Attractive and affordable product and price range
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Value added services provided for the benefit of their
customers
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Fair business and social ethics
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Outstanding and consistent quality
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Consultancy services related to regulatory issues,
production and management provided.
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 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.39.36 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.57.79 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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27 |
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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