MIRA
INFORM REPORT
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Report Date : |
09.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
AGRO
PLUS OVERSEAS |
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Registered Office : |
B 316, RG Commercial Complex, Motia Khan, Paharganj, New Delhi -
110 055 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturing
and Exporting variety of Henna products such as Natural Henna Paste, Henna
Hair Colors and Henna Tattoos |
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
5000 |
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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. Business is steady.
Trade relations are fair. Payments are usually correct and as per
commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. Nothing adverse reported. |
LOCATIONS
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Registered Office : |
B 316, RG Commercial Complex, Motia Khan, Paharganj, New Delhi -
110 055, India |
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Tel. No.: |
91-11-23673048 |
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Mobile No.: |
91-9868043039 |
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Fax No.: |
91-11-23543048 |
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E-Mail : |
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Website : |
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Area : |
156
sq. ft. |
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Location : |
Owned |
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Factory : |
11-A,
DDA Flats, Motia Khan, New Delhi – 110055 |
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Area : |
1200
sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr.
Syed Rizwan |
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Designation : |
Proprietor
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Address : |
D-47,
3rd Floor, DDA Flats, Motia Khan, New Delhi – 110055 |
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Mobile No : |
91-9868043039 |
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Date of Birth/Age : |
48
Years |
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Qualification : |
MBA |
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Experience : |
27
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
and Exporting variety of Henna products such as Natural Henna Paste, Henna
Hair Colors and Henna Tattoos |
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Products : |
- Henna Color |
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Terms : |
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Selling : |
L/C,
DA, DP or advance Local
Sales : Very little on Cash only |
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Purchasing : |
L/C,
DA and DP Local
Purchase : Advance or 15 days Credit |
GENERAL
INFORMATION
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Suppliers : |
Sumput
Rai and Company, Saudi Arabia R K S
Hina, Faridabad, Haryana |
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Customers : |
Ali
Saeed Aulaqi, Saudi Arabia Decent
Form Limited, U.K. Indian
Business Centers, California |
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No. of Employees : |
4 |
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Bankers : |
ICICI
Bank Limited C.
Place, New Delhi – 110001 |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
Alfa
Tobex Address
: B-316,
RG Commercial Complex, Motia Khan, New Delhi – 110055, India Activities
: Manufacturing
and Exporting variety of Henna products such as Natural Henna Paste, Henna
Hair Colors and Henna Tattoos |
CAPITAL STRUCTURE
ALFA
TOBEX
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Capital
Investment : |
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Owned : |
Rs.
1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ALFA TOBEX
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Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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6.300 |
0.105 |
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Profit
[Loss] Before Tax : 10 % to 20 %
Profit
[Loss] After Tax : 7 % to 8 %
Expected
Sales Turnover for March 2007 : Rs. 7.000 Millions and for March 2008 Rs. 15.000
Millions
LOCAL AGENCY
FURTHER INFORMATION
History
Subject
started with the name of Alfa Tobex in 1998 as Export of Tabbaco Products, In
2000 started Agro Plus Overseas as Export of Agro Products wanted to convert
all business in Agro Plus Overseas from 01.04.2007
Subject
wanted to convert because activity does not match with the name.
From
2002 company have a page on the web in the name of Agro Plus but Export in the
name of Alfa Tobex.
Profile
A professionally managed company,
Agro Plus is one of India's leading manufacturers and exporters of Herbal
products.
Corporate Profile
A dynamic and progressive organization, Agro Plus is one of India's reputed
manufacturers and exporters of Herbal products. Since its inception in the year
2000, the company has focused on developing safe, natural and innovative
products. They focus on quality and aim to achieve total customer satisfaction,
both in the products they offer and in the service that follows.
Since the time of its inception, the company, by the virtue of its honest
endeavor, has not only been able to establish a distinguished position but also
carved a niche for itself in a highly competitive market by providing its
customers with the finest quality herbal products at the most competitive
prices.
At Agro Plus, they aim for total customer satisfaction and meet the needs of
the discriminating tastes of their valued clients through supreme quality
products. Every batch of product is tested in accordance with international
quality assurance norms and standards. They are committed to deliver
quality-assured and scientifically researched natural solutions. Every product
marketed by the company undergoes stringent quality control Measures. The
emphasis is given on right selection of the herbs, its scientific processing
and efficacy evaluation.
Owing to their commitment towards quality and excellence, they have earned
accolades from their worldwide clients. They cater to the demands of a wide
client?e spread across many nations and desire to expand their network to each
and every corner of the globe. Their ever increasing number of clients that are
spread across the globe stand testimony to their claim of high quality and
customer satisfaction.
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.44.06 |
|
UK
Pound |
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.57.46 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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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 |
|
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
|
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 |
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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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