MIRA INFORM REPORT

 

 

Report Date :

22.02.2011

 

IDENTIFICATION DETAILS

 

Name :

NATURAL GREENS

 

 

Registered Office :

23A, West Mansi Street, Madurai – 425001, Tamilnadu

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Year of Establishment :

2002

 

 

IEC No.

3509011562

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer of vermicompost and vermin wash.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established concern having satisfactory track. Trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments.

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

           

INFORMATION PARTED BY

 

Name :

Mr. M P Madhan

Designation :

Proprietor

Contact No.:

91-9600734499

Date :

07.02.2011

 

 

LOCATIONS

 

Registered Office :

23A, West Mansi Street, Madurai – 425001, Tamilnadu, India

Mobile No.:

91-9600734499 (Mr. M P Madhan)

E-Mail :

mpmadhan@naturalgreens.in

Website :

http://www.naturalgreens.in

 

 

 

 

SOLE PROPRIETOR

 

Name :

Mr. M P Madhan

Designation :

Proprietor

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of vermicompost and vermin wash

 

 

Exports :

 

Products :
  • Vermicompost
  • Vermiwah

 

 

Terms :

 

Selling :

Credit  (30 days)

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers
  • End Users

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

State Bank of India, Branch Madurai, Tamilnadu, India

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Not Available

 

 

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

--

Total :

Not Divulged

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2010

Sales Turnover (Approximately)

 

 

50.000

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Profile :

 

This is a proprietorship firm established by Mr. M P Madhan eight years ago. They are one of the leading providers of organic fertilizers, its application solutions, soil remedial exports etc. Natural greens are in the vermicompost production for the past 8 years. They are very well known in the southern districts of Tamilnadu. There are not many people who do this business in the state of Tamilnadu. There is a very high demand for vermicompost. Natural greens provides the well nourished vermicompost. Natural greens vermicompost is rich in Nitrogen, Phosphorous, Porassium and other essential macro and micro nutrients which are essential for the growth of the healthy plants. They are render their service by blending the micro organisms with the vermicompost such as nitrogen gfixing, phosphorous fixing bacteria as per the customer needs. They also produce vermiwash which is highly nutritious. This vermiwash is sprayed on the plants and act as pesticides for some plants.

 

Right now they are supplying their products in India. They have however obtained the Import Export code and wish to start exports shortly. Their bankers are State Bank of India and they claim to do a turnover of 50.000 to 60.000 Millions. They have their own vermin farm 17 kms from Madurai on a large farm land owned by them.

 

There is no way to assess the financial strength of the firm, but they have the advantage of being in the business that does not have much competition.

 

As Per Website Details :

 

Subject is one among the leading provider of organic fertilizer production & application solutions, soil remedial experts, and natural fertilizers in south India. Each of our products is an outcome of an effort to conserve nature's precious resources through substitution or value addition. This is the legacy of a deliberate and conscious endeavor that stems from a deep-rooted concern for nature.

 

History :

 

Natural Greens are in the vermicompost production for past 8 years. We are well known in the southern districts of Tamil nadu. They started the Natural Greens in very small scale in Tamil nadu. Now they are spreading their hands out of Tamil nadu by upgrading the Natural Greens in a very high quality and quantity.

 

Future Plans :

 

Natrural Greens plans to offer the bio-organic products from the organic fertilizer production and application solutions. Natural Greens is in the experiment of producing the vegetables, fruits, flowers and also live stock by the means of the bio-organic methods. These bio-organic products thus give the healthy futures to this world. Living being are now-a-days are getting affected by the bio-products produced by the use of inorganic fertilizers. Hence Natural Greens plans to give the organic food products for the healthy future.

 

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. 45.11

UK Pound

1

Rs. 73.25

Euro

1

Rs. 61.70

 

 

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

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

-

NB

                                       New Business

-

 

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.