MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
R.K.’S AROMA SHOP |
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Registered Office : |
4 / 20, Ajay Industrial Estate, Anjirwadi, Mazgaon, Mumbai – 400010, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Essential Oils, Fragrances, Health and Beauty
Care products and Cosmetics. |
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 20000 |
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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.
Proprietor is reported as experienced and respectable businessman. 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 : |
4 / 20, Ajay Industrial Estate, Anjirwadi, Mazgaon, Mumbai – 400010, |
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Tel. No.: |
91-22-23774331 / 65740678 |
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Telfax No..: |
91-22-23741832 |
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E-Mail : |
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Website : |
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Area : |
2500sq.fts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Prakash Shivdesani |
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Designation : |
Proprietor |
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Date of Birth/Age : |
49 Years |
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Qualification : |
Post Graduate |
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Experience : |
+25 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Essential Oils, Fragrances, Health and Beauty
Care products and Cosmetics. |
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Products : |
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Ajowan (Trachyspermum Ammi) ˛
Ambrette (Abelmoshus Moschatus) ˛
Aniseed (Pimpinella Anisum) ˛
Asafetida (Ferula Asa – Foetida) ˛
Basil (Sweet) (Ocimum Basilicum) ˛
Basil (Tulsi) (Ocimum Sanctum) ˛
Benzoin (Styrax Benzoin) ˛
Bergamot (Citrus Bergamia) ˛
Black Pepper (Piper Nigrum) ˛
Betel Leaf (Piper Betle) ˛
Carrot Seed (Daucus Carota) ˛
Camphor (Camphora Cinnamomum) ˛
Cade (Juniperus oxycedrus) ˛
Calamus (Acorus Calamus) ˛
Caraway (Carum Carvi) ˛
Cajeput (Melaleuca Leucodendron) ˛
Celery Seed (Apium Graveolens) ˛
Cedarwood (Cedrus Deodara) ˛
Cardamom (Elettaria Cardamomum) ˛
Chamomile German (Matricaria Chammomila) |
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Exports : |
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Products : |
All products |
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Countries : |
South East Asia, Proper Asia, Middle – East, Parts of Europe, Parts of
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Terms : |
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Selling : |
Advance Payments (100%) |
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Purchasing : |
Cash , Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users and Distributors Companies |
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No. of Employees : |
+50 |
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Bankers : |
Bank of Mahalaxmi |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dinesh Pai and Company Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.5.000 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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35.000 |
25.000 |
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Expected Sales (2007-08) : +20% than Previous Year
LOCAL AGENCY FURTHER INFORMATION
Trade References:
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M.M. Enterprises, Mumbai
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M.G. Sahani, Mumbai
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Satel Energies,
Website Details Attached
Company Details:
Subject is a house of rare Indian fragrances, backed by a team of
herbalists and chemists, has closely considered the therapeutic values in the
selection of natural aromatic oils and presents unique blends of biodegradable
health and beauty care products. All ingredients incorporated in their
fragrances are natural extracts and certain selected ingredients close to
natural sources as alternative to animal-origin fragrances. These are all
grown, graded and distilled under the expert directions of highly professional
research and development specialists
Aroma Shop’s Essential Oils
Their essential oils specially selected from growers and farmers
throughout the world. Each oil is purchased with a certificate of authenticity
and a guarantee of quality. Wherever possible they obtain their oils from
organic sources free of chemicals and artificial fertilizers
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.40.54 |
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1 |
Rs.82.02 |
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Euro |
1 |
Rs.55.31 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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