MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHIV SALES CORPORATION |
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Registered Office : |
252, Kotla, Mayur Vihar, Phase – I, Near Gujar Bhawan, New Delhi –
110091 |
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Country : |
India |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trading of Natural Oils and Natural Fragrances |
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 20000 |
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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 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 : |
252, Kotla, Mayur Vihar, Phase – I, Near Gujar Bhawan, New Delhi –
110091, India |
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Tel. No.: |
91-11-22790282 / 22792916 |
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Mobile No.: |
91-9811213799 |
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Fax No.: |
91-11-22792916 / 22790282 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft. – Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rajeev Singhal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
12 Years |
BUSINESS DETAILS
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Line of Business : |
Trading of Natural Oils and Natural Fragrances |
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Products : |
Natural Oils ·
Aromatic
Essential Oil ·
Essential Oil ·
Almond
Massage Oil ·
Body Massage
Oil (with Jojoba) ·
Aromatic Oil ·
Aroma Therapy
Oil ·
Spices Oil ·
Bhrangraj Oil ·
Herbal Hair
Oil Natural Fragrances ·
Absolute
Natural Fragrances ·
Natural
Attars ·
Rose Water ·
Floral Wax ·
Natural Honey ·
Perfumery
Fragrances |
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Exports : |
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Countries : |
USA, Canada, Europe and Gulf Countries |
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Terms : |
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Selling : |
LC, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Memberships : |
v Essential Oil Association
of India [EOAI] v Fragrances and
Flavors Association of India [FAFAI] |
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Associates/Subsidiaries : |
Incorporation : 28.03.1995 Address : A-4T, Delhi Police Aptts Mayur Vihar,
Phase – I, New Delhi Factory Address : C – 7/73, Phase – II,
Noida, Uttar Pradesh Factory Area : 460 sq. mtr. CIN No.: U24233DL1995PTC066845 Registered : 066845 Authorised Capital : Rs. 1.000 Million
Incorporation : 29.08.1977 Address : E – 197, Greater Kailash Part
II, New Delhi CIN No.: U24299DL1977PTC008714 Registered : 008714 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 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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30.000 |
25.000 |
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Profit/Loss for the year |
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11 % |
11 % |
Expected Sales (2007-08) : Rs.40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
Subject established in the year
1993, was started with a vision to cater to the vast and ever increasing
consumer industries that produce products such as cosmetics, soaps, perfumes, incense
sticks, herbal medicines and aroma therapy products. They have successfully
emerged as a renowned manufacturer,
exporter, supplier and trader of Natural
Oils and Natural
Fragrances.
The company has been driven by a passion and commitment to understand
client requirements. Due to their persistent efforts to maintain superlative
quality, they have won the hearts of their customers spread all over the world.
They provide the buyers with only 100% natural and mesmerizing fragrances at
competitive prices, thereby offering complete value for money. They
supply their products to many leading companies in the national as well as the
international markets. Their products are exported regularly to USA, Canada, Europe and to some of the Gulf
countries. They are a member of the prestigious Essential Oil Association of India (EOAI) and the Fragrances &
Flavors Association of India (FAFAI).
Quality Assurance
Extraction of oils and fragrances from sources like plants, flowers, roots and
seeds is very delicate process. Subject have combined their valuable experience
with their expertise to designed a highly sensitive technology which preserves
this subtle fragrances in their original form. Highest priority is given to the
procurement of raw materials. The flowers, plants, roots and seeds of A grade
quality are purchased from selective reputed farmers and gardeners. Utmost care
is taken right from the procurement of the raw materials and throughout the
manufacturing process. The final products are made to go through a series of
strict tests, to make sure of their effectiveness. All the tests and checks
incurred are in accordance to the national and international quality standards.
Infrastructure
Subject is well equipped with a robust modern infrastructure, replete with all
the state of the art machinery and a dexterous work force. Their plant is
equipped with highly sensitive technology, which helps retain the delicate
fragrances of flowers and also keep essential elements of the oils intact. A
cost effective production enables them to offer their products at competitive
prices to their valued customers. They have a strong R&D team of hard
working and experienced professionals, who keep abreast with all the latest
market trends, and incorporate the latest developments immediately. Shiv Sales
Corporation is well equipped with cold storage rooms, thereby facilitating easy
storage of bulk products to meet all kinds of demands on time.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.39.37 |
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UK Pound |
1 |
Rs.81.82 |
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Euro |
1 |
Rs.56.83 |
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 |
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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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. |
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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