MIRA
INFORM REPORT
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Report Date : |
03.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
KRISHMA INTERNATIONAL |
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Registered Office : |
68/70, Jessore Road, Amarpally, Kolkata – 700074, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of home utility products like spoons miscellaneous
items like tooth brush holders, napkin rings, walking sticks, drums etc. |
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 3200 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having steady business. Trade
relations are fair. 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 : |
68/70, Jessore Road, Amarpally, Kolkata – 700074, West Bengal, India |
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Tel. No.: |
91-33-25297871 |
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Mobile No.: |
91-9830062859 |
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Fax No.: |
91-33-25296513 |
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E-Mail : |
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Website : |
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Area : |
900 sq. ft. |
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Location : |
Owned |
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Factory 1: |
Barakpur |
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Area : |
1500 sq. ft. |
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Location : |
Leased |
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Factory 2 : |
Howrah |
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Area : |
1500 sq. ft. |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Mr. P. K. Sinha |
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Designation : |
Proprietor |
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Date of Birth/Age : |
64 years |
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Qualification : |
Graduate – Engineering |
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Experience : |
40 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of home utility products like spoons
miscellaneous items like tooth brush holders, napkin rings, walking sticks,
drums etc. |
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Products : |
Spoons and Servers
Bowls
Miscellaneous Items
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Exports : |
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Products : |
Home Utility Products |
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Countries : |
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Terms : |
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Selling : |
L/C Advance |
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Purchasing : |
L/C, Cash |
GENERAL
INFORMATION
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Customers : |
Expotrer |
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No. of Employees : |
20 |
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Bankers : |
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Facilities : |
C/C, Packing Credit Rs.1.000 Million |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.500 Million |
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Borrowed : |
Rs.0.300 Million |
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Total : |
Rs.0.800 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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5.000 |
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Expected Sales (2007-08) : Rs.8.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Waugagan,
Europe
- Stourt Dept.
Store, America
Website details:
Established in the year 2001, Subject has made a considerable leap in the subsequent
years to become a reputed name in the market. They are acknowledged as an
acclaimed manufacturer and exporter
of a varied range of products, including Home Utility Products like Spoons & Bowls and Miscellaneous Items
like Tooth Brush Holders, Napkin Rings, Walking Sticks, Photo Frames, Drums,
etc. All their products are hand crafted with an exquisite look being
infused in each of them.
Quality is the hallmark at Subject, with stringent quality standards being
consistently maintained at all the manufacturing stages. Their quest for
perfection has helped them develop cordial relations with their clients. The
high grade products offered by them are a rage in many countries around the
world, where we export 100% of
their produce. In a span of 6 years, the company has efficiently achieved an
impressive sales volume of Rs.
15.000 Millions which itself
narrates our success story.
Product Range
Subject is a reputed firm offering a wide range of products. They are a
distinguished manufacturer and exporter of the following products:
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Spoons and Servers |
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Mustard Spoons |
Server Spoons |
Egg Spoons |
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Porridge Spoons |
Soup Spoons |
Chutney Spoons |
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Marmalade Spoons |
Ice Cream Spoons |
Caviar spoons |
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Caramel Cutter Spoons |
Honey Spoons |
Left/ Right Hand Baby Spoons |
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Orange Peelers |
Caddy Spoons |
Spoon and Fork Set Cocktail |
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Bowls |
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Fruit Bowls |
Leaf Bowls (Flat and Round) |
Round Bowls with Stand |
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Oval Bowls (Designed Inside) |
Boat Shaped Bowls |
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Miscellaneous Items |
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Pencil Mug Rings |
Pencil Mugs with Metal Rings |
Tooth Brush Holders |
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Napkin Rings |
Cotton Bud Holders |
Ear Bud Holders |
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Jewellery Boxes with Lid |
Jewellery Boxes with Horn, Bone and Rubber Wood |
Rectangular Boxes with Lid |
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Candle Stands |
Gift Boxes |
Walking Sticks |
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Photo Frames |
Drummers |
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Quality Assurance
Quality is synonymous with subject, and is never compromised
on.Their satisfied clients are the testimony for their quality standards.
Superior quality raw materials are used in the manufacturing process. They are
purchased only from select suppliers, who have immense market credibility. The
production process is supervised by experienced and vigilant quality
inspectors, who ensure no loopholes in the process. Before the final market
dispatch, the goods are checked for defects, and the faulty ones are duly separated.
International quality standards are adhered to religiously, in order to ensure
that the clients get nothing short of the best.
Infrastructure
Subject is well equipped with a stable infrastructure. They house all state of
the art machinery, which makes the production process simpler and cost
effective. The skilled workers and artisans employed by them are an experienced
lot, who churn out magic with their hands. The team of designers is innovative
and thinks out of the box to come up with exclusive designs and shapes. A
spacious warehouse proves to be a boon to the company, where bulk of goods can
be stored to meet all kinds of orders within a stipulated period of time.
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 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.39.67 |
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UK Pound |
1 |
Rs.81.78 |
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Euro |
1 |
Rs.58.46 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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. |
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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