MIRA INFORM REPORT

Report Date :

10.09.2008

IDENTIFICATION DETAILS

Name :	LALA JAGDISH PRASAD AND COMPANY
Registered Office :	7/110-B, Swaroop Nagar, Kanpur- 208 002, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2008 (Summarized Figures)
Year of Establishment :	1950
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners.
Line of Business :	Manufacturer and Exporter of Incence and Perfumery

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 8000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well – established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported The concern can be considered normal for business dealings at usual trade terms and conditions.

INFORMATION PARTED BY

Name :	Mr. Prem Kumar
Designation :	Chief Executive Officer
Date :	09.09.2008

LOCATIONS

Registered Office / Factory:	7/110-B, Swaroop Nagar, Kanpur- 208 002, Uttar Pradesh, India
Tel. No.:	91-512-2557377 / 3291834 / 3091834 / 5694-234433 / 235276
Mobile No.:	91-9415124539
Fax No.:	91-512-2234433 / 3291834 / 3072238 / 5694-234433
Area :	40 x 70 Sq.fts
Location :	Owned

PARTNERS

Name :	Mr. Jatinder Kumar Singh
Designation :	Partner cum Chief Executive Officer
Address :	Kanpur- 208 002, Uttar Pradesh, India
Date of Birth/Age :	35 years
Qualification :	Graduate
Experience :	8 years
Mobile No.:	91-9415124539 / 9839037804
Name :	Mrs. Manji Singh
Designation :	Partner
Address :	Kanpur- 208 002, Uttar Pradesh, India
Date of Birth/Age :	53 years
Qualification :	Graduate

KEY EXECUTIVES

Name :	Mr. Prem Kumar
Designation :	Chief Executive Officer

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Incence and Perfumery
Exports :
Products :	Incence and Perfumery
Countries :	Iraq, USa, France, Germany, UK, Africa
Terms :
Selling :	Cash, Credit (30 days)
Purchasing :	Cash, Credit (30 days)

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	25
Bankers :	State Bank of India, Swaroop Nagar, Kanpur - Uttar Pradesh, India
Banking Relations :	Satisfactory
Auditors :
Name :	P C Gupta and Company Chartered Accountants
Address :	Kanpur, Uttar Pradesh, India
Memberships :	· Fragrance and Flavours Association of India (FAFAI) · Zafrani Zarda Manufacturing Association of India (ZZA) · Essential Oils Association of India (EOI) · Natural Attar Industries Association of India · Registered with Small Scale Industries of India (SSI)
Associates/Subsidiaries :	Pragdutta Jagdish Prashad, Kanpur, Uttar Pradesh, India

CAPITAL STRUCTURE

Capital Investment :
Owned :	Rs. 1.500 millions
Borrowed :	---
Total :	Rs. 1.500 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Balance sheet

(Summarized Figures)

PARTICULARS		31.03.2008	31.03.2007
Partner’s Capital		1.500	1.410
Fixed Assets		3.200	2.910
Current Assets
	Cash & Bank Balances	0.446	0.310
Current Liabilities
	Current Liabilities	6.610	6.280
Miscellaneous Expenses		0.008	0.105

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2008	31.03.2007
Sales Turnover	10.000	9.120
Other Income	0.000	0.000
Total Income	10.000	9.120
Profit/(Loss) Before Tax	0.805	0.659
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	0.805	0.659
Total Expenditure	9.195	8.461

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007
PAT / Total Income	(%)	8.05	7.23
Net Profit Margin (PBT/Sales)	(%)	8.05	7.23

LOCAL AGENCY FURTHER INFORMATION

WEBSITE DETAILS:-

Concern Profile

The concern enthralling range of fragrances is widely used in the incense sticks, soaps, detergents and cosmetics industry. Backed by a rich experience of 55 years in the similar business domain, Subject holds a dignified platform in the sphere of perfumery. The concern is a distinguished manufacturer, exporter and supplier of unmatched perfume products such as Indian attars, natural Indian attars, essential oils, sandalwood oil, rose water, kewra water, etc. Specialities in rose oil, rose attar, and rose water. They specialize in rose oil, rose attar and rose water. Their products are widely applicable in diverse food processes. On schedule delivery and urge to explore the best in the industry, through continuous research and development has enabled them to earn a huge client base spread all over the globe.

Memberships and Affiliations

They have been offered life time memberships of the following government associations:-

· Fragrances and Flavours Association of India

· Zafrani Zarda Manufacturing Association of India

· Essential Oils Association of India

· Natural Attar Industries Association of India

· Registered with Small Scale Industries of India.

Product Range

The concern is the leading manufacturer, exporter and supplier of the following products:

Natural Essential Oil

· Sandal-Wood-Oil (Indian-Chandan)

· Gulkand

· Agar Wood Oil (Oodh-Indian)

· Attar - Gul - hina (Mehendi-oil)

· Zafrani Oil

· Nagar Motha Oil

· Jatamasi Oil

· Zafari Oil - (Rooh-Genda)

· Attar-Zafran-Oil (Kashmira)

· Sugandh Mantri Oil

· Sugandh Kokila Oil

· Natural Patchouli Oil

· Tube Rose Oil

· Natural Fragrances

· Aromatic Therapy Oil

· Perfume Oil

· Body Massage Oil

· Herbal Oil

· Flavour Oil

· Conceptests Oil

· Herbal Extract Oil

· Floral Waters

· Non-Alcohol Attars and Fragrances

Natural Aromatics

· Rose Absolutes

· Kewra Absolutes

· Rose Water

· Motiya-Absolute (Rooh-Motiya)

· Khus-Water

· Zafran-Water

· Kewra Water

Attars

· Indian Attars

· Natural Attars

· Attar Oil

· Attar Perfumes

· Attar-Zafran-Sandali

· Choya Loban

· Attar Mitti (Indian)

· Attar Champa

· Sandal Powder

· Gulab (Flower)

· Kewra (Flower)

· Nakh-Choya (Seeta-Nakh-Indian)

· Attar-Motiya (Bela-Flower)

· Shamama Shahi

· Choya-Ral (Agarbatti-Burning Purpose)

· Attar-Genda (Flower)

· Attar - Champa

· Attar-Moul-Shree

· Rose Fasali

· Attar Musk Hina

· Attar Hina Oudhi

· Attar Hina Sandali

· Attar Moulsree

Hina

· Musk Hina

· Ambari Hina

· Golden Hina

· Zafrani Hina

· Shamama Hina

· Shamama - Tul - Amber

Essential oils	Botanical Name	Essential Oils	Botanical Name
Rose Oil	Rose darrescere	Myrrh	Commophora Myrrh
Kewra Oil	Pandanus Odoratissmus	Nar Kachuri Oil	Curcuma Zedoaria
Mogra Oil Absolute	Jasminum Sambac	Nutmeg	Myristica Frangrans
Champaka Winize Absolute	Michelia champaca	Neroli	Myristica Frangrans
Shamama	My Spicos Bana	Orange Oil	Citrus Aurantium
Khus(Velvet Oil)	Venzore Zercizes	Pioermint	Mentha piperita
Aniseed	Pimpinella anisum	Pine	Pinus nigra
Black Pepper	Piper nigrum	Spikenard Oil (Jatamansi Oil)	Nardostachys Jatamansi
Cardamon Oil	Elettaria cardamomum	Sugandha Kokila Oil	Cinnamomum Cecidodephne
Citroneila Oil	Cimbopogon winteriana yava	Sugangha Bale Oil	Pavonia Odorata
Clove Oil	Eugenia Caryophyllata	Sugangha Mantri Oil	Gandhi roots
Cypioi (Nagarmotina)	Cyperus Sceriucs	Turmeric Oil	Curcuma Longa
Comender Oil (Indian)	Urbel fereas	Tagetes Minute	Tageles Patue
Eucalyptus Citnodora	Equalitus grinodal	Blask Pepper	Pepper Nigum
Frankresense	Bosvela Serre Gel	Corianser	Coriandrum Sativum
Geranium Oil	Pelerganium	Eucalyptus Oil	Eucalyptus Globulus
Goraniol Ex Pafmarosa	Cymbonogen Martial	Basil Oil	Octimum basillicum
Ginger root oil	Zingiber officinale	Holi Basi	Ocimum Sanctum
Gingergrass oil		Patchouli India
Kappor Katcherri Oil	Hydecnium Spicatium	Choya Looan	Banzola
Lemon grass Oil	cynproppggrun / lossees	Choya Nakha
Lemon	Cirus momon	Heena

Superlative Quality

Superior quality is the primary concern at the concern. They are keenly administered by sound management ethics at every level. All their products are manufactured from natural herbs. The finest quality of flowers are sourced from their own farmhouses. Their diligent quality inspectors regularly conduct quality checks in their well equipped laboratory in order to ensure flawless production. Every stage is monitored by a team of highly experienced professionals that eliminates even the minutest possibility of quality degradation.

Infrastructure
Their outstanding infrastructural abilities strengthen them in fulfilling all their business objectives. They are empowered by the latest machineries and excellent human resources to deliver pure and natural fragrance solutions to their prestigious clients. Their spacious warehousing facilities enable them to ensure timely delivery of the products. They pay a high degree of attention to the specific requirements of their customers.

Motto
Their sole business motto is to provide their esteemed clients with the best natural fragrance solutions at the most competitive prices. They always promote the culture of fair trade practices and welcome any suggestions from their clients.

Why Them?

· Wide range of products for varied applications

· Unmatched quality to cater to the clients' desirable thirst

· Wide distribution network to ensure timely delivery

· Affordable prices

· Client oriented approaches.

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 concern 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 concern’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.45.12
UK Pound	1	Rs.79.60
Euro	1	Rs.63.83

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		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

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions