MIRA
INFORM REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
NATURELLE LLC |
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Registered Office : |
Umm Al Quwain-Ras Al Khaimah Road (Emirates Link Road) Al Jazeerah Al
Hamra Industrial Area PO Box 6399Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
16.12.2006 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacturers of cosmetics and health care products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : NATURELLE LLC
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th December 2006
Trade Licence Number : 10RZ412060160
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 200
Activities : Manufacturers of cosmetics and health care products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
Person Interviewed : Rajiv Paul, Human Resources Manager
COMPANY NAME
NATURELLE LLC
ADDRESS
Registered & Physical Address
Street : Umm Al
Quwain-Ras Al Khaimah Road (Emirates Link Road)
Area : Al Jazeerah
Al Hamra Industrial Area
PO Box : 6399
Town : Ras Al Khaimah
Country : United Arab
Emirates
Telephone : (971-7) 2444775
Facsimile : (971-7)
2444776
Email : j.rosario@dabur.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Ras Al Khaimah.
KEY PRINCIPALS
Name Position
· Mohit Malhotra Managing
Director
· P D Narang Director
· Sobbra Rao General
Manager
· Uphandhra Kotian Commercial
Manager
· Rajiv Paul Human
Resources Manager
· Ranga Rajan Finance
Manager
· Manesh Falke Production
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 16th
December 2006
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 10RZ412060160
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Dabur
International Ltd 100%
India
OPERATIONS
Activities: Engaged in the manufacture of cosmetics and health care products.
Subject is ISO 9001 accredited.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of approximately 200 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Indian Rupees (INR in Lacs)
Balance Sheet 31/03/10 31/03/09
SOURCES
OF FUNDS :
Shareholders’
Funds:
Share
Capital 393
393
Reserves
And Surplus 0
(733)
393 (340)
Loan
Funds:
Secured
Loans 672
3,288
Unsecured
Loans 5,316
6
5,988 3,294
Total 6,381
2,954
Application
Of Funds:
Fixed
Assets:
Gross
Block 4,604
4,212
Less
: Depreciation 493
134
Net
Block 4,111
4,078
Current
Assets, Loans And Advances
Inventories
2,780
2,219
Sundry
Debtors 1
42
Cash
& Bank Balances 2
31
Loans
& Advances 545
122
3,328 2,414
Less:
Current Liabilities And Provisions
Liabilities
1,740
3,552
Provisions
68
73
1,808 3,625
Net
Current Assets 1,520
(1,211)
Profit
& Loss Account Debit Balance 750
87
Total 6,381
2,954
Income Statement
Income
Net
Sales 11,457
5,463
Other
Income 315
24
Total
Income 11,772
5,487
Expenditure:
Cost
Of Materials 9,244
3,184
Manufacturing
Expenses 404
484
Payments
To And Provisions For Employees 1,030
704
Selling
And Administrative Expenses 570
689
Financial
Expenses 95
191
Depreciation
359
134
Total
Expenditure 11,702
5,386
Balance
Being Net Operating Profit Before Tax 70
101
Net
Profit After Taxation 70
101
Add/(Less)
Period Adjustment Exchange Fluctuation Charge (733) 0
Net
Profit After Tax And Extraordinary Item (663)
101
Balance
Brought Forward (87)
(188)
Balance Carried Over To Balance Sheet (750)
(87)
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7)
2221127
Fax: (971-7)
2224202
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.71.95 |
|
Euro |
1 |
Rs.64.79 |
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.