MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJ FRAGRANCE |
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Registered Office : |
No. 111, Chamrajpet 2nd main, P B No. 1858, Bangalore – 560018,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Importers of raw materials and Exporters and Traders of Sticks, Dhoop
and Cones. |
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 16000 |
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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. Trade relations are fair. Business is active. Payments are reported as
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 : |
No. 111, Chamrajpet 2nd main, P B No. 1858, Bangalore –
560018, Karnataka, India |
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Tel. No.: |
91-80-26613256 / 22428510 / 26615983 [Res.] |
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Fax No.: |
91-80-26613758 |
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E-Mail : |
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Website : |
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Area : |
Land 8500 sq. ft. Built up 3500 sq. ft. [Owned] |
PARTNERS
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Name : |
Mr. B. R. Srinath |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Com. |
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Name : |
Mr. B. R. Sridhar |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B. Com. |
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Name : |
Ms. B. S. Savitha |
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Designation : |
Partner |
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Qualification : |
B. Com. |
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Name : |
Mr. B. S. Jayanth |
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Designation : |
Partner |
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Qualification : |
B. Com. |
Family has been in Incense Business and has wide experience in this
field.
BUSINESS DETAILS
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Line of Business : |
Importers of raw materials and Exporters and Traders of Sticks, Dhoop
and Cones. |
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Exports : |
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Countries : |
Europe, Africa, America, Argentina, Portugal and Somalia |
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Imports : |
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Countries : |
Taiwan, European Countries such as France and Germany |
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Terms : |
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Selling : |
L/C Local Sales : Open a/c : 60 days |
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Purchasing : |
Open a/c, L/C Local Purchase : 30-45 days |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
70 |
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Bankers : |
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Facilities : |
About Rs. 5.000 Millions from Corporation Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Babu Associates Chartered Accountants |
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Address : |
Bangalore, Karnataka, India |
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Memberships : |
Capexil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 4.000 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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45.000 |
44.700 |
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Net Profit |
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0.850 |
0.800 |
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Export Value |
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15.000 |
14.000 |
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Import Value |
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4.800 |
4.500 |
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Average value of inventories at any given time |
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5.000 |
4.000 |
LOCAL AGENCY
FURTHER INFORMATION
Subject covers over 15 Brands of Traditional, Floral, Fruit, Cosmetic
and Exotica Fragrances
AS PER WEBSITE
Profile
The land of unending magic is blessed by a
magical name in incense sticks Raj
Fragrance. Subject that has made waves with a fabulous range of wondrous fragrances. Each one created
with total passion and dedication to mesmerise the senses no end.
Subject
is an enchanting story of creativity, quality and reliability spread over six
decades and across five generations
. Incorporated in 1993 by fourth generation entrepreneurs with vast experience,
subject is today, a highly respected name in incense sticks. The company has a strong presence in all major
domestic markets and exports to 30
countries world wide.
A high
degree of creativity backed by an abiding passion for quality and service have
been the cornerstones of Raj Fragrance's enduring success. The company was the first to introduce 'diamond-shaped' packaging back in
1994 and its R&D - featuring the latest
equipment - is forever striving for innovative combinations in
perfumery. The company remains committed as ever to providing personalised
service and meeting delivery schedules. And even today, the promoters personally supervise materials and operations at every stage. To ensure
nothing but the very best. In every aspect, and respect.
Subject produces a wide variety of incense sticks to cater
to just about every need and desire. Over 15 brands in multiple pack sizes. These include traditional, floral, fruit cosmetic
and exotic fragrances. The
company operators from a modern 10000 square feet infrastructure and has a
capacity to produce up to 1 million sticks a day. On line are
major growth plans to spread the company's magical fragrance to new markets
.Indeed, the portfolio of Raj fragrance's operations is matched by the
expanding horizons. The future
unlimited in scope and vision.
Product
Traditional
Incense Sticks
Available In :
Herbs, Gul, Golden Woods, Smaran, Sapth Sugandh Raj Ratan, Chock
Sticks, Jasmi, Sree Gandh ,Garden Rose, Holy ,Dhyan, Chand, Naman, Nag
Champa, Krishna, Lavender Box, Tanya & more
Life Incense
Sticks
The Life series of aroma sticks is a tribute from Raj Fragrance to that magical
force that throbs in each one of us - life. Through an exotic combination of
aromatic flavours, an Aroma Therapy series seeks to elevate moods that are an
integral part of our daily lives. And thus help us make the best of the
different occasions that coincide with these moods.
Fruit Punch
Incense Sticks
Fruit are one of the greatest natural flavors, Its wisdom is relevant
today as it has been through the centuries. The fragrance of its divine power,
the sublime glory of its verses, carry the Universal and eternal message of
hope, love and joy of life.
Gift Packs
The Real Fresh Fragrance Any 5 fragrance of the choice from Nature
Magaic & Fruit punch hexagons can be packed to make a Ideal Fragrant
gift.
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.39.73 |
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UK Pound |
1 |
Rs.77.34 |
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Euro |
1 |
Rs.57.80 |
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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