MIRA
INFORM REPORT
|
Report Date : |
18.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
T- 25, 3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Export and Trading and manufacturing of Granite, Marble Stone, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established concern having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
T- 25, 3rd Floor, |
|
Tel. No.: |
91-141-2230637/ 3265466 |
|
Mobile No.: |
91-9413339872 |
|
Fax No.: |
91-141-2230588 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1200 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
At Satamuthra, Dholpur, |
|
Area : |
5000 Sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Other Factories : |
v
v
v
Stone Gallery, IPIA, |
SOLE PROPRIETOR
|
Name : |
<Rs. Shachi Aggarwal |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
35 years |
|
Qualification : |
Graduate |
|
Experience : |
6 years |
KEY EXECUTIVES
|
Name : |
Mr. Govind Agrawal |
|
Designation : |
Key Personnel |
BUSINESS DETAILS
|
Line of Business : |
Export and Trading and manufacturing of Granite, Marble Stone, etc. |
|
|
|
|
Products: |
v
Granite v
Marble v
Sand Stone v
Slates v
Quartzite v
Lime Stone v
Paving Stone v
Landscaping v
Mosaics |
|
|
|
|
Exports : |
|
|
Products : |
Marble Stones |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash or Credit |
|
|
|
|
Purchasing : |
L/C, Cash or Credit (60 days),
Sight |
PRODUCTION STATUS
|
Products |
|
|
|
Actual
Production |
|
Marble Stones and Granite |
|
|
|
As Per Demand |
GENERAL INFORMATION
|
Customers : |
·
Local Customers ·
End Users |
|
|
|
|
No. of Employees : |
41 (Staff: 6, Factory: 35) |
|
|
|
|
Bankers : |
v
Bank of Jaipur, v
Axis Bank Jaipur, |
|
|
|
|
Facilities : |
Bank of |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
G L Dagangyach and Company Chartered Accountants |
|
Address : |
Jaipur, |
|
|
|
|
Associates/Subsidiaries : |
Govind Stone Company Address: Satamuthra, Dholpur, Line of Business: Marble Stone |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.5.000 millions |
|
Borrowed : |
- |
|
Total : |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
100.000 |
95.000 |
90.000 |
|
|
|
|
|
|
Profit/Loss for the year |
0.750 |
0.560 |
0.275 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
Sidhartha Marble,
Pacific Industries
Limited
Local Customers
Website details attached:
Stone land come from
They accept as true the concept of TOTAL STONE SOLUTION from under one
roof. You have to name a design of the like and let them know instead of making
a geographic scan of all stone resources. If you have a mix of requirement then
you don’t need a number of suppliers but just them. Their expertise lies in
sourcing more stone variety and picking the right raw material.
Established in the year 2000 as the prominent exporters of Natural stones,
together with its associates.
They
have a full-fledged Quality Control section, which starts right from selection
of quarries, inspection of blocks to all stages of processing. This keeps away
their clients from the expensive and time-consuming efforts. In inspecting the
material before delivery. An efficient in-house shipping and logistics
department make sure that shipment of consignment from the factory to the
client destination is smooth. They also keep a round the clock track on the
status of the cargo.
The visit to their website was great experiences for them. They will be happy to know the interest and would be honored if you choose to visit them. They pride in their quality of product and their efficiencies of management.
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. 41.57 |
|
|
1 |
Rs. 82.14 |
|
Euro |
1 |
Rs. 55.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|