MIRA
INFORM REPORT
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Report Date : |
13.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DAIVIE EXPORTS |
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Registered Office : |
60, Badli Industrial Estate, Phase II, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturers and Exporters of Stainless Steel Kitchenware. |
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 32000 |
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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.
Partners 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 concern can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
60, Badli Industrial Estate, Phase II, |
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Tel. No.: |
91-11-27852230 |
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Mobile No.: |
91-9810154562 |
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Fax No.: |
91-11-27855032 |
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E-Mail : |
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Website : |
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Area : |
460 sq. mtr. [Owned] |
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Factory 1 : |
Plot No. 1601 and 1602 / 1781, Narela, |
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Area : |
Two Plots 460 sq. mtr. [Owned] |
PARTNERS
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Name : |
Mr. Vijay Kumar Gupta |
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Designation : |
Partner [Chief Executive Officer] |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Graduate |
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Experience : |
24 Years |
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Name : |
Mr. Krishan Kumar Gupta |
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Designation : |
Partner |
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Date of Birth/Age : |
65 Years |
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Qualification : |
Graduate |
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Experience : |
43 Years |
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Name : |
Mr. Raj Kumar Gupta |
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Designation : |
Partner |
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Date of Birth/Age : |
44 Years |
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Qualification : |
Graduate |
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Experience : |
22 Years |
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Name : |
Mr. Sanjay Kumar Gupta |
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Designation : |
Partner |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Experience : |
20 Years |
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Name : |
Mr. Nilesh Kumar Gupta |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Stainless Steel Kitchenware. |
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Products : |
· Ashtray · Bar Accessories · Bathroom Accessories · Candle Holder · Double Wall Items · Flower Vase · Hotelware · Kitchen Tools · Magazine Rack · Pet Bowls · Photo Frame · Stainless Steel Cutlery · Table Accessories |
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Exports : |
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Products : |
Stainless Steel Kitchenware |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS
Capacity to increase production by : 35 %
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Bhola Nath Radha
Krishan Naya Baans, Importer and Exporter of Kiryana Goods Sales Turnover : Rs. 500.000 Millions |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 8.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 8.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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20.000 |
18.000 |
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Profit/Loss for the year |
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11 % |
11 % |
Expected Sales (2007-08) : Rs. 22.500 Millions
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile
Subject
is one of the high spirited kitchen tools manufacturers based in
Daivie
Export started its manufacturing operations in 1980, and was engaged in
catering the requirements of only domestic merchant’s exporters. Later in year
of 2003, they have expanded their activities and started export functions. They
have an integrated production system which links everything from Designing, Circle Cutting, Pressing, Bidding,
Edging, Polishing, Packaging and Finishing
of the products all under one roof. Their processes ensure that they deliver
the solution on or before the agreed date. Their designers believe in constant
innovation in term of design that makes their products unique in every aspect.
They have an in house research and development department and a fully equipped
tool room which is managed by their highly efficient research team which
capable in designing any product within a shortest span of time. They also have
in-house lab for many raw and finishes products test like corrosion resistance
test, magnetic, spark, hardness and acid identification tests etc.
Products
They manufacture
all kind of utile steel products like Stainless Steel Cutlery, Kitchen Tools,
Pet Bowls, Table Accessories etc. They use best quality raw material to
manufacture these highly durable stainless steel products. A superior quality
range of hotelware is also manufactured by them. All type of Hotelware like
rectangular chaffing dish, rectangular roll top chaffing dish, round roll top
chaffing dish, rectangular roll top chaffing dish, rectangular lift top regular
chaffing dish etc are available with them .
Each piece of
their production is checked at their modernized quality testing lab. They also
manufacture complete variety of bathroom accessories. Their steel handicrafts
like Decorative Candle Holders, Double
Wall Items, Flower Vase, Magazine Rack, Photo Frame etc., are crafted by their highly skilled team of craftsman. Furthermore,
their range of ashtray and bar accessories is also very well demanded by all
their clients.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.56 |
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1 |
Rs.82.03 |
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Euro |
1 |
Rs.55.55 |
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 |
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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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. |
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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