MIRA
INFORM REPORT
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Report Date : |
02.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NORTH AROMA ASSOCIATES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Sole Proprietory concern |
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Line of Business : |
Marketing of Aroma Hytech Limited Products Proofing etc. |
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 4000 |
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Status : |
New Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new marketing concern.
It has yet to establish track. However
supported by old established concern Aroma Hytech Limited., Ahmedabad. Trade relations are fair. Nothing adverse reported. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions initially. |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-124-4069200 |
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Mobile No.: |
91-9810875781 |
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Fax No.: |
91-124-4069210 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ruchir Mittal |
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Designation : |
Proprietor |
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Mobile No.: |
91-9811883100 |
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Date of Birth/Age : |
52 years |
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Qualification : |
Engineer |
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Experience : |
25 years |
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Date of Appointment : |
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BUSINESS DETAILS
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Line of Business : |
Marketing of Aroma Hytech Limited Products Proofing etc. |
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Products : |
v
Multi Purpose Submersible Pumps v
Sewage Submersible Pumps v
Electrical Submersible Pumps (open Impeller) v
Submersible Pump Sets v
Centrifugal Pumps v
Casting Pipes v
Column Pipes v
Irrigation Pipes v
Plumbing Pipes v
PVC Plumbing Pipes v
Pressure Pipes v
Winding Wires |
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Brand Names : |
Aroma Hytech Limited |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Aroma Hytech Products for construction purposes |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash or Credit |
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Purchasing : |
L/C, Cash or Credit (60 days) |
PRODUCTION STATUS
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Products |
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Actual
Production |
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As per Demand |
GENERAL INFORMATION
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Customers : |
Local Customers and End Users |
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No. of Employees : |
10 |
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Bankers : |
HDFC Bank, Gurgaon, |
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Facilities : |
Credit Limit of Rs. 4.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Van Associates Chartered Accountants |
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Address : |
Gurgaon, |
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Associates/Subsidiaries : |
Aroma Hytech Limited Ahmedabad, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
- |
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Total : |
Rs. 1.000 million |
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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Negotiating with
foreign parties |
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Ansal Builders, Gurgaon
v
Omex Builders, Gurgaon
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DLF – Gurgaon and
Website details attached:
Growth is just like the life blood for any business sector as
it provides stability to the concerned organization. Every company spends its
substantial time in discussing the contemporary marketing strategies. The size
of the marketing department depends on the financial strength of the
organization. For a medium and small scale organization, it is very difficult
to bear the expenses of a large marketing department. If you are looking for a
trusted destination for the marketing of your pump related products, then your
search ends at subject. The company is a noted distributor for
They are backed up by highly competent professionals who are
well versed in the arena of marketing to deliver the best services. Subject is
well known for delivering excellent marketing services at the most affordable
prices. They are equipped with the best infrastructure at their
state-of-the-art office spread over 2,30,000 sq. meters in Kutch,
Products
Subject is a well known distributor for Agricultural/Domestic/Industrial and Process Pumps, Wires & Cables, UPVC Pipes & Pipe Fittings, Switch Gears & Control Panels, OFC Copper and PVC Compounds. They have earned the reputation of a one stop sourcing destination for premier Water Management Systems. Their sole motto is to provide higher grade and customized Water Management solutions. Their catalog of products includes:
- Multi Purpose
Submersible Pumps
- Sewage
Submersible Pumps
- Electrical
Submersible Pumps (Open Impeller)
- Submersible
Pump Sets
- Centrifugal
Pumps
- Casting Pipes
- Column Pipes
- Irrigation
Pipes
- Plumbing
Pipes
- PVC Plumbing
Pipes
- Pressure
Pipes
- Winding
Wires.
Quality
Assurance
Quality is the primary concern at Concern. Their quality management programme comprises
of several inspection stages in order to allow the flow of only error free
products to the market. Each product is capable of delivering its unmatched
services and has a long operational life with minimum down time. Their
experienced quality inspectors put tight vigil on the whole process, right from
procurement from reputed manufacturers to the shipment and after sales
service.
Advantages
- Work with
close coordination with our esteemed customers
- Reputation
based on quality, reliability, integrity, and complete understanding of
the market dynamics
- Prompt
deliveries and customer satisfaction—their top priority
- Company USP
defined by customer satisfaction and expansion of client base
- Competitive
prices--the best price offered in the market
- Timely
delivery of products, providing them an additional edge in the market
Primary Competitive Advantages
Unmatched quality, reasonable prices and timely delivery
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. 80.21 |
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Euro |
1 |
Rs. 54.51 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
YES |
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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 |
YES |
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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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28 |
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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