MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ARYAN MUSHROOMS AND BIO FUELS |
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Registered Office : |
C – 6 / 323, Vasant Kunj, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers
and Suppliers of Jatropha Seeds, Jatropha Saplings, Bio Diesel and Oyster, Shitake,
Ganoderma Mushrooms etc. Turnkey Porjects On Jatropha Plantation |
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 2400 |
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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 : |
C – 6 / 323, Vasant Kunj, |
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Tel. No.: |
91-11-3295457 |
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Mobile No.: |
91-9810447933 |
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Fax No.: |
91-11-41767371 |
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E-Mail : |
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Website : |
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Area : |
1000sq.fts |
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Location : |
Owned |
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Works : |
Noorpur, Nehtaur, Disst: Bijnor, Uttar Pradesh |
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Area : |
1200sq.mts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Akshay Vir Singh Tyagi |
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Designation : |
Proprietor |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.E. |
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Experience : |
7 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
and Suppliers of Jatropha Seeds, Jatropha Saplings, Bio Diesel and Oyster, Shitake,
Ganoderma Mushrooms etc. Turnkey Porjects On Jatropha Plantation |
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Products : |
Bio-Fuel
Products – |
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Terms : |
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Selling : |
Credit of 30 – 45 days |
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Purchasing : |
Advances, Csh and 30 days Credit |
GENERAL INFORMATION
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Suppliers : |
Subject buy seeds from open market |
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Customers : |
Little World Construction private Limited (A Liberty Group Company) For Reliance |
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No. of Employees : |
10 |
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Bankers : |
Oriental Bank of Commerce G. Kailash Part 2 |
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Facilities : |
Overdraft of Rs.3.000 millions |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.600 million |
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Borrowed : |
- |
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Total : |
Rs.0.600 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover (80% Mushrooms and 20% Bio Fuels) |
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5.000 |
4.200 |
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Gross Profit |
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12% (Approx) |
- |
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Profit After Tax |
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8% (Approx) |
- |
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Expected Sales (2007-08) : Rs.20.000 millions (70% Mushrooms and 30% Bio
Fuels)
LOCAL AGENCY FURTHER INFORMATION
Company Profile:
Subject is a renowned manufacturer and exporter of Dry Mushroom,
Mushroom Powder and Biofuels. The quality of their products has enabled them to
acquire an extensive market base both in
Subject is extensively into jatropha (jatropha curcas) plantation through its
indigenously developed tissue culture plants. They are among the few companies
to develop jatropha curcas by tissue culture. In their business model they
invite farmers and corporates, who wish to venture in this rapidly growing
industry by offering them turnkey projects with an assurance of buy-back
guarantee.
Quality
They are committed to maintaining international quality standards. They believe
in providing superior quality products to the valued customers. They have
well-equipped processing unit armed with the entire range of facilities to
ensure quality and complete freshness for their products. The consistent
quality is also an outcome of repeated quality checks. The checks are performed
at every stage of production starting from the selection and processing to the
final product.
Infrastructure
They have an elaborate processing system comprising of facilities related to
preservation of their products. They are also equipped with a team of trained
and experienced manpower to constantly monitor their products.
Why Their
Mushrooms:
- Nonpolluted enviroment
- Natural and wild grow
- Experienced in processing Their Farm
- Natural countryside
- No pollution of air & water
- Few industria facilities
- Long history in mushrooms
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 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
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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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
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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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