MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
BHARATWASI INTERNATIONAL |
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Registered Office : |
D – 791, Street No. 8, Ashok Nagar, Shahdara, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1981 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Unparalleled fragrances and incense sticks,
in Aromatic Flavors and Accessories like Dhoop, Burner, Cone Holder etc |
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 4800 |
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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 records. Proprietor is reported as experienced and respectable
businessman. Trade relations are 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 : |
D – 791, Street No. 8, Ashok Nagar, Shahdara, |
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Tel. No.: |
91-11-22591713 |
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Mobile No.: |
91-9899079968 (Mr. D.P. Singh) |
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Fax No.: |
91-11-22591713 |
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E-Mail : |
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Website : |
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Area : |
4500sq.fts |
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Location : |
Owned |
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Factory 1 : |
D – 1118, Gali No. 1, Ashok Nagar, Shahdara, |
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Area : |
3000sq.ft |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. D. P. Singh |
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Designation : |
Proprietor |
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Address: |
A-111, |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Post Graduate |
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Experience : |
14Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Unparalleled fragrances and incense sticks,
in Aromatic Flavors and Accessories like Dhoop, Burner, Cone Holder etc |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Term Export: L/C, D/A and DP |
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Purchasing : |
Terms Import: L/A Local Purchase: Cash or 30 days Credit |
GENERAL INFORMATION
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Suppliers : |
Import Manufacturing Equipments Purchase of raw material from local market |
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Customers : |
Wholesalers, Retailers, Importers |
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No. of Employees : |
175 |
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Bankers : |
Lord Krishna Bank Ashok Nagar, |
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Facilities : |
No Overdraft |
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Banking
Relations : |
Satisfactory |
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Memberships : |
EPCH (Export Promotion Council
for Handicrafts) and CHEMIXIL (Basic Chemicals, Pharmaceuticals &
Cosmetics Export Promotion Council). |
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Associates/Subsidiaries : |
Bharatwasi Doop and Agarbati Address: D – 791, Street No. 8, Ashok Nagar, Shahdara, Activities: Manufacturer and Exporter of Unparalleled fragrances an
incense sticks, in Aromatic Flavors and Accessories like Dhoop, Burner, Cone
Holder etc (for domestic market only) Sales Turnover: Rs.2.500 millions Employees: 10 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.200 millions |
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Borrowed : |
- |
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Total : |
Rs.1.200 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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7.500 |
6.500 |
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Gross Profit |
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13% |
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Profit After Tax |
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8% |
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Expected Sales (2007-08) : Rs.10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Production:
Capacity to increase production by 75%
Company Details:
An incense stick is an important
ingredient of every religious ceremony of the world. As they flip through the
pages of history, they will find its description in the Bible as a traditional
and ubiquitous practice in almost all pujas, prayers, and other forms of Hindu
worship. The incense holds an invaluable role in East Asian Buddhist ceremonies
and rites. Thus, everyone will definitely demand a high quality incense sticks
for worshipping. If you are looking for a trusted destination for superior
incense sticks then our search ends at Bharatwasi International. The
company is a highly acclaimed manufacturer and exporter of
unparalleled fragrance and incense sticks. Its sticks are available in various
aromatic flavours such as frutti, flowers, premium, woody, herbal
and spicy. They also import
manufacturing equipments from various parts of the world. Subject is a regular
member of EPCH (Export Promotion Council for Handicrafts) and CHEMIXIL (Basic
Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council).
The company was incorporated in the year 1981 catering to the
demands of the national market and exporting its products indirectly to various
countries. Now, it has entered directly in international market and is
successfully exporting its products to various parts of the world. The company
remains committed as ever to provide personalized service and in meeting the
delivery scheduled. They are a professionally managed organization strictly
adhering to stringent quality control measures throughout their manufacturing
process. Their client oriented approaches and capability to feed the bulk
demand provide them an additional edge over other players in similar business
sphere. They believe in continuous upgradation of their products to satisfy and
fulfill all the incense needs of their rapidly growing clientele.
subject is a noteworthy manufacturer, exporter and importer of
variety of incense sticks and fragrances in multiple brands and pack sizes and
much more, as per the buyer’s desire. Besides, in order to provide more comfort
to the buyer, they also manufacture and supply unique and international quality
accessories like, Dhoop, burner, cone holder, etc. in a wide and popular range.
Unmatched Quality
They are a quality driven organization and strictly adhere to
stringent quality control procedures, right from the procurement of raw
materials to the shipment of finished products. Their professionals personally
supervise the materials and operations of fragrance and incense sticks at each
and every stage so that they can produce nothing but the best. They have a
well-equipped Research & Development Department, engaged in the process of
continuously experimenting with chemical combinations and compositions, thus
creating unique blends and introducing new brands.
All their products are available in attractive packaging that is
capable of preventing the goods from any sort of contamination and damage.
Their packaging is capable of keeping the freshness and aroma of the sticks
intact for months. The fragrance and incense sticks are developed as per latest
International trend and packing conforming to international specifications and
safety standards.
Infrastructure
Their sound infrastructural abilities act as their power boosters in
fulfilling all their business objectives. They are well equipped with
state-of-the-art machineries and miraculous manpower that provide them an exact
equation of manufacturing superior incense sticks. The machineries are imported
from various parts of the world so as to deliver excellent products.
Terms & Conditions
Sample Availability and Policy : Free samples are available on request.
Client will get back their money of courier charges on receiving the confirmed
order.
Delivery and Product Guarantees : Delivery is made within 30 days of the
receipt of the Irrevocable purchase order, depending upon the size of the
order. Their fragrances are conform with INTERNATIONAL FRAGRANCE ASSOCIATION
guidelines.
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.40.73 |
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1 |
Rs.80.43 |
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Euro |
1 |
Rs.54.44 |
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 |
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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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 |
YES |
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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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48 |
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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