MIRA
INFORM REPORT
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Report Date : |
16.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AIRIER ORGANIC FARM |
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Registered Office : |
89, Krishna Complex, Kodigehalli, Sahakara Nagar, |
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Country : |
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Date of Incorporation : |
2007 |
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Legal Form : |
Sole Proprietory concern |
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Line of Business : |
Manufacturer and exporter of organic products such as Aloe Vera, Amba
Haldi, Awla, Ashwagandha, Bibhitki, Black Turmeric. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 10000 |
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Status : |
New concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and yet to establish itself. Proprietor is reported
as experienced and respectable businessmen. Trade relations are reported as
fair. No payment could be made
available. The concern can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office : |
89, Krishna Complex, Kodigehalli, Sahakara Nagar, |
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Tel. No.: |
91-80 -23636753 |
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Mobile No.: |
91-9448129045 |
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Fax No.: |
91-80-23637353 |
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E-Mail : |
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Website : |
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Factory : |
Farm Location: Moodala Agrahara, Chamrajnagar, Karnataka |
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Area : |
Owned |
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Location : |
25 acres |
SOLE PROPRIETOR
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Name : |
Mr. B R P Bhat |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 years |
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Qualification : |
B.Sc |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of organic products such as Aloe Vera, Amba
Haldi, Awla, Ashwagandha, Bibhitki, Black Turmeric. |
GENERAL INFORMATION
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No. of Employees : |
20 |
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Bankers : |
ICICI Bank Limited Address: R T Nagar, |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Mr. Purushottam Chartered Accountants |
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Memberships : |
Central Herbal Agro Marketing Federation H.O Raipur |
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Associates/Subsidiaries : |
·
Airier Address: Bangalore-560 092, Karnataka Activity: Manufacturer of Turbo Air
Ventilators · Jyoti Solar Equipment (P) Limited Address: |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
--- |
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Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New concern
Expected Sales (2007-08) : Rs. 2.000 millions
LOCAL AGENCY FURTHER INFORMATION
OTHER INOFRMATION:
· Supplier of Irrigation Systems, Pump sets, plants being identified.
· Prospective customers are under identification.
· The concern is proposing to engage in Organic Farming with cultivation, processing and packing of a variety of Herbs.
WEBSITE DETAILS:
House of organic
farming with the cultivation, processing and packing of a variety of herbs.....
Organic farming is a production
system which avoids or largely excludes the use of synthetically compounded
fertilizers, pesticides, growth regulators, and livestock feed additives. To
the maximum extent feasible, organic farming systems rely on crop rotation,
crop residues, animal manures and mechanical cultivation to maintain soil productivity,
supply plant nutrients, and to control weeds, insects and other pests. The
concern is an emerging manufacturer
and exporter of 100% organic
products such as Aloe Vera, Amba Haldi, Ashwagandha, Awla,
Bibhitki, Black Turmeric, Brahmi, Eucalyptus Citrodora, etc. Their impeccable quality and consistent
approach to innovate new products provide them an additional edge over the
other players in the similar trade.
Presence of favorable climatic
conditions, expertise in the technical know how and an in-depth industrial
research on the various aspects has facilitated their immense success in a very
short span of time. They are well supported by an outstanding infrastructural
facility and highly qualified workforce to deliver a range of pure organic products.
Their products are 100% organic and free from any sort of chemicals and
pesticides. They are a member of CHAMF (Central Herbal Agro Marketing
Federation).
The concern has
established itself as a reputable manufacturer and exporter of 100% organic
products without using chemicals and pesticides. Their catalog of products
include:-
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Aloe Vera (Gel)
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Amba Haldi (Curcuma Ambada) (Dry Rhizome)
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Annato (Bixa Orellina) (Dry Seeds)
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Ashwagandha (Withania Somnifera) (Dry Leaves and
Powder)
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Awla (Emblica Officinalis) (Dry Fruits and
Powder)
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Bibhitki (Terminalia Belerica) (Dry Fruits and
Powder)
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Black Turmeric (Curcuma Olingo) (Dry Rhizome)
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Yellow Turmeric (Curcuma Olingo) (Dry Rhizome)
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Brahmi (Centella Asiatica) (Dry Leaves and
Powder)
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Chilli (Capsium Spp.) (Dry Fruits)
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Coleus Forshikali
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Eucalyptus Citrodora (Oil and Powder)
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Ginger (Zingerofficinalis Spp) (Dry Rhizome)
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Guduchi (Cocculus Cordifolius) (Powder)
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Gurmar (Gymnemma Sylvestra) (Powder)
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Haritaki (Terminalia Chebula) (Dry Fruit)
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Kalihari (Gloriossa Superba) (Dry Roots and
Seeds)
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Kalmegh (Andrographis Penniculata) (Dry Seeds)
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Kalmegh (Andrographis Penniculata) (Dry Plant)
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Keokand (Costus Speciosus) (Dry Roots)
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Keonch (Dry Roots)
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Lemongrass (Cymbopogon Flexuosus) (Leaves and
Oil)
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Malkangini (Dry Seeds and Oil)
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Muskdana (Abelemosches Maschotes) (Dry Roots,
Seeds and Oil)
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Maize (Zea Mays) (Seeds)
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Pushkarmool (Inula Recemosa) (Dry Roots)
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Rice (Oryza Sativa Spp. and Roxb.) Badshah Bhog
(Milled Rice)
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Safed Musli (Chlorophytum Borivillianum) (Dry
Roots)
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Serpgandha (Raulfia Serpantina) (Dry Roots)
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Shankpushpi (Canscora Decussata) (Dry Plants)
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Shatavari (Asparagus Racemosus) (Dry Roots)
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Stivia (Dry Seeds)
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Stivia (Powder)
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Tulsi (Oscimum Senctum) (Dry Leaves)
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Vetch (Acorus Calamus) (Dry Rhizome) (Oil).
Quality Assurance
Superior quality is
the primary concern. Their quality control system starts from the examination of
the raw materials and lasts till the final dispatch of the consignment. Every
product offered to confirms the international norms of organic cultivation.
Their commitment towards quality has helped them win new opportunities in the
highly competitive global market. The products are manufactured by employing
latest standardized machineries under the strict supervision of highly skilled
quality inspectors to ensure the production of premier organic products. They
are capable of catering to bulk demand within the stipulated time frame.
Superior Packaging
All their products
are packaged in premier quality packaging which prevents them from any sort of
contamination or damage. Their packaging is capable of keeping the freshness of
the products alive for months.
Infrastructure
Their unit is equipped with
latest technologies and highly experienced professionals to deliver superior
products at the most reasonable prices. All their products are manufactured
under total hygienic conditions. They are backed up by a team of expert
professionals who are responsible for delivering world class quality in every
functional area of the company.
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.39.31 |
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1 |
Rs.80.19 |
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Euro |
1 |
Rs.55.86 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
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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17 |
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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