MIRA
INFORM REPORT
|
Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
IZUK CHEMICALS AND HERBALS |
|
|
|
|
Formerly Known As : |
IZUK CHEMICAL WORKS |
|
|
|
|
Registered Office : |
A-274, 1st Floor, Okhla Industrial Area, Phase I, New
Delhi-110006 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Year of Establishment : |
1956 |
|
|
|
|
IEC No.: |
0595011161 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
07970042570 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAAFI1952R |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Herbal Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is 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
|
Registered Office : |
A-274, 1st Floor, Okhla Industrial Area, Phase I, New
Delhi-110006, |
|
Tel. No.: |
91-11-23977931/ 65653145 |
|
Mobile No.: |
91-9818038656/ 9810698822 |
|
Fax No.: |
91-11-23931574 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
350 Sq.mt. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
2546, Chaman Wara, Tilak Bazar, Delhi-110006, |
|
Tel. No.: |
91-11-23977931 |
|
Fax No.: |
91-11-23931574 |
|
Area : |
80 Sq.mt. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Anwar Ahmed |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
59 years |
|
Qualification : |
Graduate |
|
Experience : |
30 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Herbal Products. |
|
|
|
|
Products : |
Natural Herbal Henna in all shades like Herbal Henna Black, Herbal
Henna Brown, Herbal Henna Red, Herbal Henna Burbundy Herbal Henna Chestnut,
Amina Hair Oil, Lemon Shampoo etc. 60% Export |
|
|
|
|
Brand Names : |
MOONSTAR |
|
|
|
|
Exports : |
|
|
Products : |
Natural Herbal Henna in all shades like Herbal Henna Black, Herbal
Henna Brown, Herbal Henna Red, Herbal Henna Burbundy Herbal Henna Chestnut,
Amina Hair Oil, Lemon Shampoo etc. 60% Export |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Advance, LC, Cash or Credit |
|
|
|
|
Purchasing : |
Cash or Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL INFORMATION
|
Suppliers : |
Purchase of raw material from open market |
|
|
|
|
Customers : |
v
Ramzee Traders LCC – v
Ahmed Brother – Sadar Bazar, Delhi-110006 |
|
|
|
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
HSBC Bank Limited |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Memberships : |
EPC, Chamber of Commerce |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.2.500 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
10.000 |
9.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
12% |
12% |
Expected Sales (2007-08) : Rs.12.500 millions
LOCAL AGENCY FURTHER INFORMATION
The name of the company has changed from Izuk Chemical Works
To :
Izuk Chemicals and Herbals, after April 2007.
Website Details :
With over five decades of experience behind them, they are one of the most reputed and reliable manufacturers and exporters of herbal henna powder, henna hair color, henna shampoo and other henna related products. Having achieved tremendous success and recognition, their high quality chemical free products have emerged as the preferred choice with both national and international clients of repute.
Manufactured under the brand name MOONSTAR, their range of chemical free henna products consisting of herbal henna powder, henna hair color, henna shampoo are 100% pure and natural and are available in a variety of shades and colors.
At subject, they work on a solid foundation of the latest technology and the best quality of raw materials available. Well supported by a team of highly qualified and well-trained personnel, they follow strict quality control procedures in all aspects of the production process with their products being checked and tested right from the procurement of the materials to their final shipment.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.24 |
|
|
1 |
Rs.83.04 |
|
Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|