MIRA
INFORM REPORT
|
Report Date : |
13.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHAMSONS FOODS |
|
|
|
|
Registered Office : |
B -39, Lawrence Road, Industrial Area, New Delhi – 110 035 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1920 |
|
|
|
|
Legal Form : |
Partnership concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business : |
Manufacturing of Pickles, Murabbas, Processed Foods, Canned Food,
Jams, Sauces, Fruit Drinks. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 32000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Registered Office : |
B -39, Lawrence Road, Industrial Area, New Delhi – 110 035, India |
|
Tel. No.: |
91-11-47062838 |
|
Mobile No.: |
91-9810117239 / 9810783838 |
|
Fax No.: |
91-11-27184476 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 sq.mtrs |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Anubhav Gupta |
|
Designation : |
Partners |
|
Date of Birth/Age : |
30 years |
|
Qualification : |
Graduate |
|
Experience : |
7 years |
|
|
|
|
Name : |
Mr. Ashok Kumar Gupta |
|
Designation : |
Partners |
|
Date of Birth/Age : |
50 years |
|
Qualification : |
Graduate |
|
Experience : |
28 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pickles, Murabbas, Processed Foods, Canned Food,
Jams, Sauces, Fruit Drinks. |
|
|
|
|
Products : |
· Pickles · Murabbas · Processed Food · Canned Food · Jams · Marmalades · Tomato Ketchup · Sauces · Fruit Drinks · Mango Panna Squash, etc. Also having FPO License |
|
|
|
|
Brand Names : |
Diamond |
|
|
|
|
Exports : |
Subject wants to start direct export |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 30%
GENERAL
INFORMATION
|
Suppliers : |
Own manufacturing (purchase of Raw material from open market) |
|
|
|
|
Customers : |
· Jet Airways · Hotel Centaur, IGI Airport, New Delhi · Hotel Surya, New Friends Colony, New Delhi · Escort Heart Institute, New Delhi · Batra Hospital and Medical Research Centre |
|
|
|
|
No. of Employees : |
35 |
|
|
|
|
Bankers : |
Punjab National Bank Address: Lawrence Road, New Delhi – 110 035, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Memberships : |
APEDA (Agriculture and Processed Food Products Export Development Authority) |
|
|
|
|
Associates/Subsidiaries : |
Shri Bankey Behari Foods Address: 51, Rajasthani, Udyog Nagar, GT Karnal Road, Delhi – 110 033,
India Tel No: 91-11-65155269 / 30623112 / 13 Fax No: 91-11-30623111 Email: bdm39in@yahoo.com Websites: http://www.shribankeybeharifoods.com
Activity: Manufacturer, Exporter and Importer of Food Products. Sales Turnover: Rs.100 millions Employees: 160 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 8.000 millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 8.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
50.000 |
45.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
12% |
12% |
Expected Sales (2007-08): Rs. 70.000 millions
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
The concern was started by Mr. Basheshar Nath Gupta.
WEBSITE DETAILS:
Concern
Brief:-
With
their business rooted for almost nine decades in the food sector, they have
crossed several milestones, thereby making them a reputed and a leading name in
their arena. The concern were
established in the year 1920, an
offshoot of a heritage coming down from three generations! The concern is a
pioneer manufacturer and exporter of
Pickles, Murabbas, Processed Food, Canned Food, Jams, Marmalades, Tomato
Ketchup, Sauces, Fruit Drinks, Mango Panna Squash. These mouth-watering
delights manufactured for the young and the old alike, are prepared from
seasonal fruits and vegetables. Available under the brand name "DIAMOND'S", they are
blended with the best of Indian spices, to give the perfect taste. Their FPO Licence No. 7 speaks volumes about
their experience and expertise in the food industry.
Business
Philosophy
It has
been a part of their business philosophy since their inception to follow
certain industrial parameters as well as policies, as enumerated below:
·
Work in a hygienic environment to ensure pure products
·
Follow of a stringent quality control regime
·
Keeping in tune with the market trends and demands
·
Cater as per the exact requirements of their esteemed
customers
·
Adherence to prompt delivery schedules
·
Offer products at competitive prices
·
Welcome of customers' feedback and suggestions
·
Upgradation of machinery as per latest technology.
Expertise--Products
They Offer
Taking
into account the taste factor, they have been manufacturing a line of food products
that are bound to satisfy the taste buds of the end-consumer. Few of their food
products have medicinal properties. Their product portfolio, which they
manufacture and export includes the following:
·
Pickles
·
Murabbas
·
Processed Food
·
Canned Food
·
Jams
·
Marmalades
·
Tomato Ketchup
·
Sauces
·
Fruit Drinks
·
Mango Panna Squash, etc.
Emphasis
on Quality Management
At the
concern, they believe in the concept of total quality management, thus, emphasizing
on the taste, essence, freshness and flavor of their products. Equipped with
modern testing instruments, they are a step ahead in maintaining superlative
quality of each of their food products. They take utmost care in the selection
of the right type of raw materials.
Following
strict safety and hygiene standards, their team of adept and qualified
personnel monitor the entire process as per national and international
standards. Top priority is given to the packaging of the products to retain their
freshness and purity. They ensure that the best products reach their clients
and end-consumers.
Manufacturing
Setup
An
advanced setup designed exclusively for varied food products is their forte at
the concern. They utilize a blend of traditional and modern methods so that all
basic nutritional properties as well as freshness are maintained. A hygienic
environment is maintained, which is a pre-requisite for any food processing
unit. They are backed by a team of professional experts, who have rich industry
experience.
To avoid contamination of the food products, they use mechanized technology,
eliminating human handling operations to a great extent. The packaging section
at their unit follows quality and attractive packaging as per set
standards.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.65 |
|
UK Pound |
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.57.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|