MIRA
INFORM REPORT
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Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMBII ORGANOCHEM PRIVATE LIMITED |
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Registered Office : |
803, Mercantile House, 15 Kasturba Gandhi Marg, New Delhi – 110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.04.1976 |
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Com. Reg. No.: |
55-8140 |
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CIN No.: [Company
Identification No.] |
U74899DL1976PTC008140 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC06945B |
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PAN No.: [Permanent
Account No.] |
AAACC2347K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of natural cosmetic products
like hair conditioner, facial moisturizer, acne care cosmetics, sunscreens
and corrugated boxes, jars and caps, pet bottles, plastic bottles. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 130000 |
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Status : |
Good |
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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 company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
803, Mercantile House, 15 K.G. Marg, New Delhi – 110001, India |
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Tel. No.: |
91-11-23706096/ 26386562/ 24693396/ 26864996/ 26387845/ 26385090/
23706095/ 24604604® |
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Fax No.: |
91-11-23313473/ 263875090/ 23311473 |
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Mobile : |
91-9810334788/ 9810187488 |
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E-Mail : |
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Website : |
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Factory 1 : |
33, DSIDC Sheds, Scheme – 3, Okhla Industrial Area, Phase – 2, New
Delhi – 110020 |
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Tel. No.: |
91-11-26387845 / 26386496 |
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Fax No.: |
91-11-26385090 |
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Factory 2 : |
A – 14 / 2, UPSIDC Industrial Area, Bhimtal, Dist., Nainital,
Uttranchal, Himalayas |
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Tel. No. : |
91-5942-248282 / 91-5942-247825 |
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Fax No. : |
91-5942-248281 |
DIRECTORS
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Name : |
Mr. Anil Khanna |
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Designation : |
Managing Director |
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Address : |
D – 199, Defence Colony, New Delhi – 110024 |
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Date of Birth/ Age : |
01.04.1945 |
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Date of Appointment : |
02.04.1976 |
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Name : |
Mrs. Veena Khanna |
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Designation : |
Director |
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Address : |
D – 199, Defence Colony, New Delhi – 110024 |
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Date of Birth/ Age : |
05.01.1947 |
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Date of Appointment : |
01.05.1981 |
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Name : |
Mr. Pawan Pershad |
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Designation : |
Director |
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Address : |
J – 14, Hauz Khas, New Delhi – 110016 |
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Date of Birth/ Age : |
23.06.1950 |
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Date of Appointment : |
01.04.1976 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Anil Khanna |
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16900 |
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Pawan Pershad |
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200 |
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Veena Khanna |
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3900 |
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Total |
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21000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relative of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of natural cosmetic products
like hair conditioner, facial moisturizer, acne care cosmetics, sunscreens
and corrugated boxes, jars and caps, pet bottles, plastic bottles. |
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Products : |
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Natural Haircare Products
Natural Skincare Products
Natural
Cosmetics
Skin Care Products
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Exports: |
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Countries : |
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GENERAL
INFORMATION
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Suppliers : |
Guest Toiletries to the hotel industry in India and abroad. |
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Customers : |
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No. of Employees : |
50 |
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Bankers : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
R Nanda and Company Chartered Accountants |
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Address : |
1212, New Delhi House, 27 Barakhamba Road, New Delhi - 110001 |
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Tel. No.: |
91-11-23314687 |
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Associations : |
· Combii Chem · Middlesex, UK |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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21000 |
Equity Shares |
Rs.10/- each |
Rs.0.210
million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.210 |
0.210 |
0.210 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
26.512 |
17.791 |
11.727 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
26.722 |
18.001 |
11.937 |
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LOAN FUNDS |
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1] Secured Loans |
2.551 |
2.276 |
0.623 |
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2] Unsecured Loans |
0.019 |
0.142 |
0.142 |
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TOTAL BORROWING |
2.570 |
2.418 |
0.765 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29.292 |
20.419 |
12.702 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.904 |
9.942 |
7.702 |
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Capital work-in-progress |
1.104 |
0.000 |
0.000 |
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INVESTMENT |
1.500 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.083 |
0.126 |
0.168 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.655
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3.653 |
1.609 |
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Sundry Debtors |
6.313
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4.644 |
3.943 |
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Cash & Bank Balances |
7.680
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6.744 |
2.516 |
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Other Current Assets |
0.871
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1.020 |
1.112 |
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Loans & Advances |
0.336
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0.032 |
0.387 |
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Total
Current Assets |
19.855
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16.093 |
9.467 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.564
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4.952 |
3.685 |
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Provisions |
0.590
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0.790 |
0.950 |
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Total
Current Liabilities |
5.154
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5.742 |
4.635 |
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Net Current Assets |
14.701
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10.351 |
4.832 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29.292 |
20.419 |
12.702 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
38.279 |
22.009 |
15.950 |
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Other Income |
0.576 |
0.000 |
0.000 |
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Total Income |
38.855 |
22.009 |
15.950 |
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Profit/(Loss) Before Tax |
9.615 |
6.999 |
4.042 |
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Provision for Taxation |
0.894 |
0.935 |
0.000 |
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Profit/(Loss) After Tax |
8.721 |
6.064 |
4.042 |
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Total Expenditure |
29.240 |
15.010 |
11.908 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
22.44
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27.55 |
25.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
25.12
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31.80 |
25.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
30.27
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36.88 |
23.54 |
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Return on Investment (ROI) (PBT/Networth) |
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0.36
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0.38 |
0.33 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.29
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0.31 |
0.38 |
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Current Ratio (Current Asset/Current Liability) |
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3.85
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2.80 |
2.04 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
PROFILE:
Subject was established in 1978, incorporating 20
years in the field of research and application of Botanical & Mineral materials
on the human body. A brand owner of HERBLINETM,
they are one of the largest, most assured and the only manufacturer and vendor and an exporter of Natural Skin &
Hair Care Products with ISO 9001:2000 accreditation in India. Their HERBLINE brand has won an
international acclaim for quality and service at the "Quality Summit"
in Madrid, Spain in 1999.
They are also proud to announce that they have just commissioned their
new state of the art, modern plant in the Himalayas at the scenic Bhimtal (in the
Himalayas), where they
use natural spring water to
manufacture their products. In addition to this, they are also filing their
papers with the US FDA, to register their products, under
their voluntary registration scheme.
They have been the largest purveyor of guest toiletries to the hotel
industry in India and Nepal, for over two decades. The excellence of the
product range, which has received international acceptance and acclaim,
confirms and gives impetus to their efforts. HERBLINE purvey, amongst others,
to the exacting leaders in the industry – Oberoi Hotels & Resorts,
Marriott, Welcomgroup Hotels, Crown Plaza, Fariyas Group, Mansingh Group, Yak
& Yeti, Radisson (Shimla), Lemon Tree Hotels and scores of other chains with
a combination of stand-alone hotels as well as heritage properties.
EXPORT MARKETS:
Apart from catering to the hotel industry, they also export the HERBLINE range of their
products to Japan, Switzerland, Australia, Czech Republic, Mauritius, United States
(manufacturing for a private label), U.K., Maldives, and the Netherlands, to
name a few. It has been their endeavor to take Ayurveda to the world and evolve
the HERBLINE brand into a recognized name that signifies international quality
and commitment from INDIA.
PHILOSOPHY:
Their company’s product range is really a lifestyle
extension for those already inclined towards natural and organic way of living,
and for those who want pure, environmentally conscious products. Their main
objective is to establish business channels by appointing business
partners/representatives in various regions and creating strong distribution
channels. They aim to establish long term contacts and expand further in the
region and around the world, along with all their business partners.
MANAGEMENT:
The management is in the safe hands of Mr. Anil Khanna, Managing Director of Subject. He has spent 23 years in the field of Research and Application of Botanical and Mineral Materials on the human body. He is a qualified engineer, from Maharaja Sayajirao University, Baroda and also holds a degree in MBA (Marketing Management) from the Jamnalal Bajaj Institute of Management Studies, University of Bombay.
Mr. Khanna has a rich experience and has worked with the who's who of the industry. Some of the posts held by him include:
- Senior Management Trainee- DCM Group
- Product Manager- Glaxo India Limited
- Marketing Controller- Narang Group Brewery & Distillery
- Consultant- Turcon India Limited
Mr. Anil Khanna got intrigued by the relation between man and nature, when he started working for Glaxo Laboratories and marketed food and health products of the company's family division. It was at this time that he took training in basic Human and Physiology and Dermatology. His interest in plant materials was further fanned during his tenure with Turcon India Limited, where he got the opportunity to work with national laboratories like Central Drug Research Institute, Lucknow and Regional Research Laboratory. In Jammu and Srinagar laboratory, Mr. Khanna is associated with the development for growing Hops in India.
RESEARCH AND
DEVELOPMENT
Subject has a fully equipped state of the art microbiology laboratory and chemical laboratory for research and experimentation of its various products.
- 20 years of experience in the research and development field of effect of Botanical and Mineral Materials on the human body.
- Herbline brand of hair and skin care products
- Largest supplier of guest toiletries to the hotel industry in India and Nepal. Some major clients include The Oberoi Hotels and Resorts Chain, Yak and Yeti, Palace on Wheels, Welcome-Group Sheraton GroupNikko Hotels, Hotel Intercontinental, etc.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.77 |
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UK Pound |
1 |
Rs.80.67 |
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Euro |
1 |
Rs.64.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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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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72 |
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 |
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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 |
|
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 |
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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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