MIRA
INFORM REPORT
|
Report Date : |
16.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAPPY NATURA ORGANICS PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
E METAL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
109-A, Mittal Chambers, Nariman Point, Mumbai – 400 021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
04.02.1981 |
|
|
|
|
Com. Reg. No.: |
023812 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1981PTC023812 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Certify Organics Agriculture Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Project |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Comments : |
Subject is a new project takeover by the company which was defunct
since 1981. Present management claims to have done huge business but could not be verified. The company is unknown to the market. Given trade references are not
traceable. No payment are available. It would be president to do business with the subject on safe and
secured trade terms and conditions, initially. |
INFORMATION PARTED
BY
|
Name : |
Mr. Deva |
|
Designation : |
President |
|
Contact No.: |
91-9324087554 |
|
Date : |
05.07.2008 |
LOCATIONS
|
Registered Office : |
109-A, Mittal Chambers, Nariman Point, Mumbai – 400 021, Maharashtra,
India |
|
Tel. No.: |
91-22-30220511/2/3/4/5, 22810509 |
|
Mobile No.: |
91-9224172511, 9224172510 |
|
Fax No.: |
91-22-22810509 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
600 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
A-4/3, MIDC, Murbad, Dist. Thane |
|
Area : |
50000 Sq. ft. |
|
Location : |
Owned (Factory owned by company) |
DIRECTORS
|
Name : |
Mr. Shashi Dalmiya |
|
Designation : |
Director |
|
Date of Birth/Age : |
61 Years |
|
Qualification : |
B.A. |
|
|
|
|
Name : |
Mr. Rajesh Dalmiya |
|
Designation : |
Director |
|
Date of Birth/Age : |
66 Years |
|
Qualification : |
B.A. |
|
|
|
|
Name : |
Mr. Deva |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Priyanka |
|
Designation : |
Sales Administrator |
|
|
|
|
Name : |
Mr. Ramya |
|
Designation : |
Factory Manager |
|
|
|
|
Name : |
Mr. Dhawani |
|
Designation : |
Factory Quality Control |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Certify Organics Agriculture Products |
|
|
|
|
Products : |
·
Herbs, Cuts and Seeds, Power ·
Herbal Extracts ·
Essential Oils ·
Oil Seeds ·
Edible Oils ·
Spice, Whole, Power ·
Spice Oils ·
Oleoresins ·
Fruits, Dried, Pure, Pulps ·
Vegetable, Dried, Pure ·
SCO2 Products |
|
|
|
|
Exports : |
|
|
Countries : |
·
Germany ·
France ·
USA |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
L/C, Credit (60 days) |
GENERAL
INFORMATION
|
Customers : |
·
Wholesalers ·
Distributors |
|
|
|
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
Canara Bank Cuff Parade, Mumbai – 400 005, Maharashtra, India |
|
|
|
|
Facilities : |
Rs.35.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Rajan Damani and Company Chartered Accountants |
|
Address : |
Mittal Chambers, Mumbai |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available since incorporation of the company.
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was originally started in the year 1981 under the name of E Metal
Industries Private Limited. However till 2007 it was a defunct company and
commenced activities started only in 2007. It has applied for a change in name
to Sappy Natura Organics Private Limited with the Government departments and
the new name is proposed to take effect from 15th July, 2008.
This information was confirmed by Mr. Devs, President of the company.
Trade References :
·
Navin Kalra – Jaipur – Customer
·
S. K. Tiwari – Indore – Supplier
Business
Subject is a processor and trading enterprise
involved in the processing, trading aromatics oils, fruits and Vegetables
(dehydrated and canned) minor forest products and minerals.
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.43.17 |
|
UK Pound |
1 |
Rs.86.26 |
|
Euro |
1 |
Rs.68.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
- |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
13 |
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 |
|