MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
BALAJI STONE EXPORTS |
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Registered Office : |
RIICO Industrial Area, Tonk, Deoli, – 304 804, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Manufacturer and Exporter of Cutting and Polishing Stone. |
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 : |
USD 31400 |
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Status : |
Satisfactory |
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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 concern having satisfactory
track. Proprietor is reported as experienced and respectable businessmen. Trade
relations are 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. |
LOCATIONS
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Registered Office : |
RIICO Industrial Area, Tonk, Deoli, – 304 804, Rajasthan |
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Tel. No.: |
91-1434-232888 |
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Mobile No.: |
91-9414424822 |
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Fax No.: |
91-1434-230994 |
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E-Mail : |
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Area : |
2000 sq. mtrs. |
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Location : |
Owned |
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Factory 1 : |
RIICO Industrial Area, Tonk, Deoli, – 304 804, Rajasthan |
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Tel. No.: |
91-1434-232888 |
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Mobile No.: |
91-9414424822 |
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Fax No.: |
91-1434-230994 |
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E-Mail : |
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Area : |
6975 sq. mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. C P Aggarwal |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Cutting and Polishing Stone. |
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Products : |
ˇ
Cutting Stone ˇ
Polished Stone ˇ
Marbles |
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Exports : |
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Products : |
Marbles |
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Countries : |
Europe, Germany, France, UK, Spain, Middle East, South Africa,
Australia, Canada, USA |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit at sight basis
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GENERAL
INFORMATION
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Customers : |
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Local Customers ˇ
End Users |
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No. of Employees : |
In Office – 6 and Factory – 30 = Total - 36 |
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Bankers : |
Bank of Maharashtra Jaipur, Rajasthan, India |
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Facilities : |
Credit Limit: Rs. 3.500 millions
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajesh Pandey and Company Chartered Accountants |
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Address : |
Jaipur, Rajasthan, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.850 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 7.850 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
45.000 |
42.000 |
38.500 |
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Profit/Loss for the year |
2.950 |
2.800 |
2.300 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
6.56
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6.67 |
5.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.56
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6.67 |
5.97 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37
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0.35 |
0.29 |
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LOCAL AGENCY
FURTHER INFORMATION
Trade References:
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KSL, UK
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Sterling Stones, Canada
As Per Website
Profile
Subject started its operation in 1995 and has been catering to global market
for Indian Natural Stones such as Slate Stone. They the leading manufacturer
and exporter of sand and slate stone in India having own mines. This is an export
oriented unit situated at Rajasthan, Deoli India with the end goal of
reliability and consistency of product quality. The secret of success of the 10
years old company is the customer satisfaction with proven quality maintenance
and workmanship apart from timely delivery schedules.
Subject provide all varieties of slate stone and sandstone in blocks, slabs and
tiles form, available in all commercial sizes and thickness. These stones can
also be supplied in any size and specifications as per buyers requirement. They
can supply each and every size available in the market of sand and slate stone
with best price and the best quality.
Their wide array of stones include :
Slate Stone
- Copper
- Silvershine
- Kund Multi
- Golden
- Zeera Green
- Deoli Green
Sandstone
- Teakwood
- French Grey
- Jaisalmer Yellow
- Rainbow
Sandstone
Special
Brown
The hardness of sandstones is important in
deciding suitability for applications for sandstone. They offer a splendid
range of sandstones available in many colors, textures, sizes and thickness
that will enhance the beauty of both interiors as well as exteriors of your
home or offices.
Teak
Shades Includes: Panther, teakwood, rainbow,
special brown, ment, fossel.
Sizes : 12x12, 16x16, 18x18, 24x24, 6x12, 8x12, 4x12.
Usage : These stones are used for flooring, wall cladding.
Silver
Shine Copper
These compact metamorphic rocks, composed
primarily of silica and alumina are ideal for flooring, cladding and
landscaping. The lively colors and unique texture make our slate stones
appropriate for interior as well as exterior applications.
Zeera
Green and Kund Multi
Shades Includes: Copper, gold, green, silver
grey, silver shine, tera red, ocean green, zeera green, peacock, kund multi,
dark multi.
Sizes : 12x12, 16x16, 18x18, 24x24, 6x12, 8x12, 4x12.
Usage : These stones are used for flooring, wall cladding.
Facilities
They have a dedicated team of professionals
who possess a wide knowledge of the industry verticals. Besides, they
continually strive to enhance and optimize the work process by integrating
latest technology with considerable knowledge of our domain, supply-chain,
logistics and e-commerce. Hence, they are able to simplify and accelerate the
whole process of providing services and adding value where it really matters.
Packaging
Packing
of tiles is done in corrugated boxes (only for small size granite tiles and
slates), giving thermocol and plastic covering. They are then packed in sea
worthy wooden crates, to give a strong support in order to avoid any breakage
or loss during transit.
Technology
The
company possesses an excellent infrastructure base. The production unit is
equipped with the state-of-art machines. Machines in the factory include:
» Edge cutting machines
» Calibration machines
» Polish machines
Business Partners
they plan to make inroads into the lucrative export market. Led by a global
vision and a drive to maintain quality upto international standards they strive
to produce products conforming to the international standards. They enjoy the
trust of client spread across various countries including: India, Australia,
U.S., China, Bangladesh, UAE and Polland.
Management
Their personnels and technicians are trained to be experts in all areas of
business. Their techniques and service are second to none.
Clients
They enjoy the trust of our clients spread
across various countries USA and Europe.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.07 |
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UK Pound |
1 |
Rs.81.69 |
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Euro |
1 |
Rs.55.84 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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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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
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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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
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<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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