MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SFP SONS INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. A-24, MEPZ, Special Economic Zone, Kadaperi, Tambaram, Chennai
600045, Tamilnadu |
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Country : |
India |
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Date of Incorporation : |
17.06.2004 |
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Com. Reg. No.: |
053500 |
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CIN No.: [Company
Identification No.] |
U24246TN2004PTC053500 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHES25192G |
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PAN No.: [Permanent
Account No.] |
AAICS9235N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture, Importers and Exporters of Perfumes, Talcum Powders,
Body Sprays, Hair Oils, Natural Oils used for body and hair, Incenses Sticks,
Attar, Incenses Tablets and Personal Care Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject has not filed any financials with the Government Department
till date. The management parted
general information but declined to part with financials. Business is active. Payments are reported as slow at times. In view of non availability of financials, slight caution is to be
exercised whiles dealing with the company. |
INFORMATION PARTED
BY [GENERAL DETAILS]
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Name : |
Mr. Raj Gopal |
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Designation : |
Accounts Manager |
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Date : |
11.06.2008 |
LOCATIONS
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Registered Office/Factory : |
Plot No. A-24, MEPZ, Special Economic Zone, Kadaperi, Tambaram,
Chennai 600045, Tamilnadu, India |
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Tel. No.: |
91-44-22623157/22620028/226200281 |
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Fax No.: |
91-44-22628025 |
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E-Mail : |
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Website : |
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Area : |
3 Lacs Sq. fts. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Dinesh S. Patel |
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Designation : |
Managing Director |
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Address : |
H2/2 TNBH Colony, Tambaram Sanitorium, Chennai-600047, Tamilnadu, India |
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Name : |
Mr. Jagdish C. Patel |
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Designation : |
Director |
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Address : |
H2/5 TNBH Colony, Tambaram Sanitorium, Chennai-600047, Tamilnadu, India |
BUSINESS DETAILS
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Line of Business : |
Manufacture, Importers and Exporters of Perfumes, Talcum Powders,
Body Sprays, Hair Oils, Natural Oils used for body and hair, Incenses Sticks,
Attar, Incenses Tablets and Personal Care Products. |
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Products : |
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Brand Names : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit [30 days to 60 days] |
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Purchasing : |
L/C, Cash and Credit [90 days] |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Distributors |
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No. of Employees : |
200 |
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Bankers : |
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Facilities : |
C/C Rs. 40.000 Millions |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Pratap and Company Chartered Accountants |
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Address : |
Chennai |
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Associates/Subsidiaries : |
H1/10 TNBH Colony, Tambaram Sanitorium, Chennai-600047, Tamilnadu, India Line of Business: Marketing of
Cosmetics Tel. No.: 91-44-22623157 / 22620028 / 22628015 Fax No.: 91-44-22628025 E-mail: patelenterprises@sfpsons.com
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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500.000 |
350.000 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE DETAILS
PROFILE
Subject was established in 1992 and
is located in MEPZ-Special Economic zone, Chennai. They are an ISO 9001:2000 company and its main business is
manufacture of perfumes, attars and range of cosmetic products like talc, hair
oil, creams and lotions.
They are 100% EOU and their major
markets are Middle East, Africa, Srilanka, Malaysia etc.
They also supply in local market
under DTA.They offer all their products under brand names of 'Tara', 'Ahsan',
'Taibah' and 'Silent
Valley '.
Their brands namely 'Ahsan' and 'Taibah'
are very popular and stand amongst recognized brands in Saudi Arabia and Dubai.
Their brand Tara
is very popular in export market as well as in southern India.
They have an established marketing unit for India, which is involved in
distribution of the entire range of products in the local market. They have a
sound infrastructure consisting of shop
floor area of over 50000 sq.ft. and storage
area of 25000 sq.ft.
They have strength of
300 members all working on a common goal to deliver the best quality products.
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 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. 42.81 |
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UK Pound |
1 |
Rs. 83.75 |
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Euro |
1 |
Rs. 66.10 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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32 |
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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