MIRA
INFORM REPORT
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Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
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Name : |
BEST EXPORTS |
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Registered Office : |
Flat # 36/37/38, Ist floor, “C” Block, Kushal Garden Arcade, Plot No.
1A, IInd Phase, Peenya Industrial Area, |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB03990A |
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PAN No.: [Permanent
Account No.] |
AACFB7162J |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer, trader, exporter and importer of Aromatic Oils, Aromatic
Plants, herbs, and medicinal Plants, Spice Powders, Seasoning Mixes , Masala
Powder, Spreads, Spices and Herbal Extracts. |
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 : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern having satisfactory
track. General financial position is
satisfactory. 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 : |
Flat # 36/37/38, Ist floor, “C” Block, Kushal Garden Arcade, Plot No.
1A, IInd Phase, Peenya Industrial Area, |
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Tel. No.: |
91-80-28372930/28372931/41241567/ 41241789 / 41241475 |
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Fax No.: |
91-80-28372932 |
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Head Office : |
S-305, 2nd Floor, J.C. complex Annexe, # 186/1, Sirur Park
Road, Sheshadripuram, Bangalore- 560020, Karnataka State, South India. |
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Tel. No.: |
91-80-23345970/ 23343894 / 23444460 / 41241567 / 41241789 / 41241475 |
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Fax No.: |
91-80-23345970/ 23343894 / 23444460 / 41241567 / 41241789 / 41241475 |
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E-Mail : |
vidsagar@airtelbroadband.in
, bestexports@vsnl.net , viddsagar@rediffmail.com , bestexporttsindia@yahoo.com |
PARTNERS
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Name : |
Mr. K. G. Vidyasagar |
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Designation : |
Partner |
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Age : |
47 years |
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Qualification : |
Graduate |
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Experience : |
22 years |
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Name : |
Mrs. V. Meenakshi |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, trader, exporter and importer of Aromatic Oils, Aromatic
Plants, herbs, and medicinal Plants, Spice Powders, Seasoning Mixes , Masala
Powder, Spreads, Spices and Herbal Extracts. |
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Exports to : |
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Terms : |
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Selling : |
L / C,Cash or Credit (30 days) |
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Purchasing : |
L / C, Cash or Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and end users |
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No. of Employees : |
12 |
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Bankers : |
American Express Bank Limited, Main Branch, |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
1.Para Fine Chem. Industries, 2.Vam International, Line of Business: Manufacturing Air Pollution control equipments 3. Chemicals and Associates, Line of Business: Traders of solvents and adhesives Tapes. |
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 |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover (Estimated) |
30.000 |
29.000 |
10.000 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject is a sterling merchant exporter of Standardized Herbal Extracts,
Organic Herbs, Bio-pesticides, manure and Spices.
In Ancient times, their ancestors relied on the Natural ways of
life. They are natural, they practiced
Natural Medicine and they even wore naturals.
Man has realized the importance of Synchronizing with nature and the
desire for healthy living is slowly being revived.
The concern is the juncture; their group of companies felt a need of
venture out into something natural i.e. GLOBAL REACH – NATURALLY.
Agricultural practices in
Organic food products, spices etc are gaining importance throughout the
globe owing to the damages being caused to the environment by the mindless use
of chemical fertilizers and hazardous pesticides.
They have a vision to project
- Herbal
Extracts and organic Herbs.
- Organic Plant
Nutrients and Bio Pesticides.
- Natural
Aerosolic Products for Controlling House mites.
- Spices.
It is their endeavour to achieve total customer satisfaction by being a
premier source of the above select products to the highly quality conscious
international customer.
Their values always emphasize on:
- Customer
satisfaction
- Profitability
- Responsibility
- Integrity
- Excellence
- Sincerity
- Partnership
Their promise to the human community is the respect they have towards
the environment and nature wherever they conduct business and conservation of
Natural resources.
As a commercial company in a highly competitive and dynamic market with
high customer expectation, they want to become a leader by being a fully
integrated reliable supplier of natural products meeting international
specification.
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. 41.18 |
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1 |
Rs. 82.02 |
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Euro |
1 |
Rs. 56.07 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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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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