|
Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
AROMA CHEMICALS |
|
|
|
|
Registered
Office : |
Siddhi Sadan, Tiraha Tube-Well Colony, Moradabad - 244001, Uttar
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment: |
1999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.500 Millions |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer
and Exporter of
Mint and Allied Products. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 34000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms an 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Udit Mohan |
|
Designation : |
Partner |
|
Contact No.: |
91-9837052100 |
|
Date : |
25.07.2012 |
LOCATIONS
|
Registered Office : |
Siddhi Sadan, Tiraha Tube – Well Colony, Moradabad - 244001, Uttar
Pradesh, India |
|
Tel. No.: |
91-591-2511444/ 3291093 |
|
Mobile No.: |
91-9837052100 (Mr. Udit Mohan) |
|
Fax No.: |
91-591-2436508/ 2511445 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 sq. Mt. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Village Kaukarpur Post Aghwanpur District Moradabad-244001, |
|
Tel. No.: |
91-591-2511444 |
|
Fax No.: |
91-591-2511445 |
|
Area : |
10000 sq. Mt. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Suman Kumar |
|
Designation : |
Partner |
|
Address : |
|
|
|
|
|
Name : |
Mr. Udit Mohan |
|
Designation : |
Partner |
|
Address : |
|
|
Date of Birth/Age : |
28.09.1972 |
|
Voter ID No.: |
FSM3808086 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of
Mint and Allied Products. |
|
|
|
|
Products : |
·
Menthol Bold Crystals ·
Thymol ·
DMO ·
Pippermint Oil (All Grades) ·
CIS-3-Hexenol ·
Anethol ·
Menthol Powder ·
Mentha Oil ·
Menthone ·
Limonene ·
Liquid Menthol ·
Chavicol ·
Spearmint Oil |
|
|
|
|
Exports : |
|
|
Products : |
Mint Allied Products |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
60 (Approximately) |
|
|
|
|
Bankers : |
Punjab National Bank, Moradabad, Uttar Pradesh, India Packing Credit Rs.150.000 Millions (From Punjab National Bank) |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shewtap and Company Chartered Accountants |
CAPITAL STRUCTURE
As on: 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs.8.500 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.8.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
380.000 |
350.000 |
240.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.450.00 Millions
The above information has been parted by Mr. Udit Mohan
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
s
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
AS PER WEBSITE DETAILS
PROFILE
From a humble beginning in 1999, Subject has established
itself as one of most trusted names in the Menthol business.
100% natural products, international standard
quality, on time delivery, firm commitment, customer's trust and after sales
support are the pillars on which Mr. Suman Kumar and Mr. Udit Mohan started the
company more than a decade ago. Mr. Udit Mohan holds a B. Tech Degree in
Industrial Production and Management and has honed his skills working his way
up in the menthol trade.
With a robust infrastructure in place, there
manufacturing unit is spread over 10,000 sq. ft. area out of which 40% is a
well developed 'green area'. With steady purchasing channels, both from loyal
farmers and traders, they minimize the risk. This advantage factor plus there
fair sales strategies help them to achieve there principle of “trustworthiness,
quality, service and transparency in business dealings”.
There facility and in house R and D lab. Is
designed as per international standards and with sound quality guarantee system.
The advanced testing methods and rigorous inspection of production processes
help them to steadily maintain and upgrade the product quality. Major part of
distillation unit is supplied by M/s. Sulzer, of Switzerland.
There precision testing equipments and
professionally trained staff take care of the total process of distillation,
crystallization and homogenization to meet varied customer requirements. The
products are passed through stringent testings by Gas Chromatography, O.R.,
R.I., M.P., B.P., Solubility, Color, Acidity and Physical impurities apart from
Organoleptic properties.
Environmental, social and employee welfare are
the three responsibilities the organization adheres to by controlling water,
soil and air pollution; tree plantations inside and outside the factory to
minimize the effect of carbon emission; financial assistance to NGO's; training
programs, medical check ups and adequate safety equipments for employees.
With sales office in New Delhi and smaller
factories in Jammu and Rudrapur, there Head Office and main manufacturing
facility is in Moradabad, UP. With close proximity to the “MINT REGION' of
India, they have easy access to Delhi, the capital of India which gives them
leverage in purchase and access to export hubs of Delhi.
Subject– a government of India recognized
export house is registered and approved with various chambers of commerce,
councils, relevant govt. authorities, pollution control board and customs
authorities. The firm is technically and financially sound and enjoys the
status of preferred customer with there current lenders.
The sales and marketing division is headed by
a seasoned professional, Mr. Parikshit Bhandari who has 18 years of rich
experience in the menthol trade.
The company currently exports to USA, UK,
Brazil, China, Singapore, Indonesia, Germany, France, Spain, Nigeria and South
Africa. There buyers vary from end users, traders, agents and stockists.
They now search for new friends and business
partners.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
YES |
|
--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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.