MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AEON OVERSEAS |
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Registered Office : |
D 14/07, First Floor, The Presidency, Gurgaon – 122 002, Haryana |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers and Exporter of Hand Made Papers. Marketing Research and
Interior Designing. |
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 10000 |
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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. Partners are 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 : |
D 14/07, First Floor, The Presidency, Gurgaon – 122 002, |
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Tel. No.: |
91-124-3296415 |
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Mobile No.: |
91-9891355355 |
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Fax No.: |
91-124-2572762 |
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E-Mail : |
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Website : |
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Area : |
130 sq.mtrs |
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Location : |
Owned |
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Factory Office : |
Village Bawal, |
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Area : |
500 sq.mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Anirudh Sachdeva |
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Designation : |
Partner |
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Date of Birth/Age : |
34 Years |
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Qualification : |
B.E, MBA |
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Experience : |
8 Years |
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Name : |
Mrs. Ruby Sachdeva |
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Designation : |
Partner |
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Date of Birth/Age : |
31 Years |
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Qualification : |
Architect |
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Experience : |
6 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Hand Made Papers. Marketing Research and
Interior Designing. |
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Exports : |
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Products : |
Hand Made Papers |
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Countries : |
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Imports : |
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Products : |
Machinery and Spares |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit (60 Days), Sight |
GENERAL INFORMATION
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Customers : |
Local Customers, End Users |
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No. of Employees : |
21 (7 in Office and 14 in Factory) |
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Bankers : |
Deutsches Bank Address: KG Marg, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Pradeep Aggrawal and Company Chartered Accountants |
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Address : |
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Associates/Subsidiaries : |
Nil |
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]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
15.000 |
9.700 |
8.400 |
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Profit/Loss for the year |
0.850 |
0.650 |
0.535 |
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Export Value |
100% |
65% |
68% |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
·
Housner Design –
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Kay Mart –
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Ethinic Import -
WEBSITES DETAILS:
Aeon Overseas was incepted in 2003 by an environment-conscious
duo, Ruby and Anirudh Sachdeva. Established with the sole purpose of
popularizing eco friendly products like handmade paper and papier-mache items
among the people at large, they have today emerged as a prominent manufacturer
and exporter of 100% wood free handmade papers and decorative paper Mache
items.
Products
At Aeon Overseas, they have in their ambit a host of eco friendly handmade
paper and paper-mâché products that have found appreciation from people all round
the globe for their aesthetic appeal and subtle yet stylish designs.
Range of products include:
Handmade paper: Printed Handmade Papers, Handmade Embroidery Papers, Handmade Wrapping papers, Crushed Papers, Handmade Crinkle Papers, Embossed Handmade Papers, Spiral Handmade paper Journals, Beaded decorated Journals, Foil Embossed Journals, Bamboo decor Journals, Scrapbooks, Gift Boxes in various designs and Purposes etc.
Papier-mache: Papier-mache boxes, Papier-mache Gift Boxes, Christmas
decorations, Papier-mache Utility Boxes etc.
Their handmade paper and papier-mache products display a variety of expressions from the rich traditional to the most modern in line with the tastes of their esteemed customers. They always welcome personalized customizations and have gained trust and admiration from their business associates world wide.
Team
At Aeon Overseas, they have a dedicated team of innovative designers and
developers who have a penchant for the best designs and latest trends. They also
have highly skilled and fine craftsmen who have set highest standards for the
products both in beauty and performance, well experienced professional
packaging and handling staff with a sensitivity to serve the world markets
under strict quality-controls.
Strength
Spread over 2500 square feet is their in-house production facility located
at Gurgaon. Well connected and with a spacious, dust free environment and 100%
power back, their manufacturing unit is well equipped with all basic amenities
that are required for a friendly working environment. At Aeon, their large
infrastructural facility helps us to meet the customized demands of their
clients. With a firm focus on quality, they at Aeon employ only premium quality
raw materials in the manufacture of their handmade paper and papier-mache
products.
Their Commitment
They value their commitment for timely delivery and quality of the finished products. Their large clientele base shows their concern and customer sensitivity. Their repeated orders and positive feedback are their valuable assets and motivation to move ahead.
Regular communication with customers and their feedback is
the key of their successful creations. It helps us to think and develop the
concepts that suit the international market.
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.39.91 |
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1 |
Rs.79.88 |
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Euro |
1 |
Rs.55.88 |
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 |
YES |
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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. |
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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