MIRA
INFORM REPORT
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Report Date : |
09.06.2007 |
IDENTIFICATION DETAILS
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Name : |
XEBEC |
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Formerly Known As : |
XEBEC |
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Registered Office : |
532, Somdatt Chambers II, 9, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.03.1998 |
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Com. Reg. No.: |
92922 |
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CIN No.: [Company
Identification No.] |
U63040DL1998PTC092922 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELX00153G |
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PAN No.: [Permanent
Account No.] |
AAACX0071F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and exporter of aromas in various forms and odors. |
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 4064 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track. Directors 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 company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
532, Somdatt Chambers II, 9, |
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Tel. No.: |
91-11-26102657, 66606249 |
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Fax No.: |
91-11-26192677 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Jayanta Chatterjee |
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Designation : |
Managing Director |
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Address : |
C-102, Lagoon Apartments, |
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Date of Birth/Age : |
14.02.1968 |
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Date of Appointment : |
24.03.1998 |
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Name : |
Mr. Nikhil Chatterjee |
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Designation : |
Director |
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Address : |
60/2B, |
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Date of Birth/Age : |
01.06.1939 |
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Date of Appointment : |
24.03.1998 |
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Name : |
Mrs. Parvati Chatterjee |
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Designation : |
Director |
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Address : |
60/2B, |
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Date of Appointment : |
24.03.1998 |
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Name : |
Mrs. Kumi Chatterjee |
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Designation : |
Director |
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Address : |
C-102, Lagoon Apartments, |
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Date of Appointment : |
24.03.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Equity
Shares |
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Mr. Jayanta Chatterjee |
39.800 |
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Mr. Nikhil Chatterjee |
5,100 |
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Mrs. Parvati Chatterjee |
5,100 |
Equity share breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of aromas in various forms and odors. |
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Products : |
Incense, Incensories, Candle, Herbal, Cosmetics, Aroma Therapy Products,
Henna, Pashmina, Handicrafts, Candle stands. |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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Bankers: |
Not Available |
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Auditors : |
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Name : |
Mr. Anand K. Mathur and Company Chartered Accountant |
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Address : |
Flat No. 128 SQ, Hauz Khas SFS Apartments, |
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Memberships : |
ITPO, AEPC, WWEPC, TATA |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity |
Rs. 10/- Each |
Rs. 0.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity |
Rs. 10/- Each |
Rs. 0.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.516 |
0.133 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
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NETWORTH |
1.016 |
0.633 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.0000 |
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DEFERRED TAX LIABILITIES |
0.008 |
0.009 |
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TOTAL |
1.024 |
0.642 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.515 |
0.423 |
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Capital work-in-progress |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.450
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0.227 |
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Sundry Debtors |
0.000
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0.018 |
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Cash & Bank Balances |
0.968
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0.556 |
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Other Current Assets |
0.000
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0.000 |
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Loans & Advances |
0.179
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0.157 |
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Total
Current Assets |
1.597
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0.958 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.725
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0.674 |
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Provisions |
0.365
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0.068 |
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Total
Current Liabilities |
1.090
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0.742 |
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Net Current Assets |
0.507
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0.216 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
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TOTAL |
1.024 |
0.642 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
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Sales Turnover (Estimated) |
5.000 |
3.000 |
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Total Income |
5.000 |
3.000 |
KEY RATIOS
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PARTICULARS |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
1.07
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1.17 |
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Current Ratio (Current Asset/Current Liability) |
1.46
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1.29 |
LOCAL AGENCY FURTHER INFORMATION
In the world of exotic fragrances 'XEBEC
India Tours & Exports Pvt. Ltd.' is a renowned name across the globe
since 1998. They are a leading manufacturer and exporter of aromas in various
forms and odors. Their range of products includes hand rolled Incense sticks, Incensories and Candles. From times
unknown incense sticks are known to elevate moods and to sooth the souls. Their
product range is also reputed to aid meditation and enjoy wide market at both
national and international levels. In countries like
Product Profile
Their main range of products are variety of Incenses like -
- Incenses from Hem
- Incenses From Cycle
- Incenses From Amber
which are produced in finest floral and
spicy aromas. Other than this, they are also involved in manufacturing wide
range of-
- Cosmetics
- Aroma Therapy products
- Henna
- Herbs
- Pashmina
- Handicrafts
- Candle Stands
Their artisans are expert in designing and
creating a vivid collection of awesome designs in enhanced beautified form.
Manufacturing
Procedure
High quality incense is prepared mostly by hand. The exotic woods used in the
process are found in the dense jungles. The incense and incensories they offer
are manufactured exclusively in accordance to the global standards. In the
manufacturing process, the natural gums and resins from precious woods, such as
powdered sandalwood, are loaded into vats where they are mixed with other
organic raw materials. Some of the incense is dried and powdered, mixed with a
type of natural adhesive and rolled onto thin bamboo sticks to form sticks,
cones and coils.
Their Strenghts
Their well-skilled and experienced production and management teams enable them
to create any kind of fragrance as per given specifications. With efficient
logistic network they are able to delover the orders within the committed
time-frames. They are exporting their vast range of products to Japan, U.S.A,
Their prime objective is to develop long lasting relationship with
ever-increasing clienteles all over the world.
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.40.98 |
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1 |
Rs.80.98 |
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Euro |
1 |
Rs.54.99 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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 |
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34 |
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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