MIRA
INFORM REPORT
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Report Date : |
15.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ACRA
VENTURES |
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Registered Office : |
D-2/1,
Plot No. 54, Shivaji Marg, Industrial Area, Rama Road, New Delhi – 110015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers
and Exporters of Handicrafts Items, Candles, Candle Stands, Incense Sticks,
Gifts, Wrought Iron Products, Photo Frames, Jewelled Photo Frames, Baskets
and Kitchen Accessories. |
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
7500 |
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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 satisfactory track. 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 / Factory : |
D-2/1,
Plot No. 54, Shivaji Marg, Industrial Area, Rama Road, New Delhi – 110015,
India |
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Tel. No.: |
91-11-41428538 |
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Mobile No.: |
91-9811179103 |
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Fax No.: |
91-11-41428538 |
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E-Mail : |
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Website : |
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Area : |
90 sq.
ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr.
Ajay Chawla |
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Designation : |
Proprietor
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Date of Birth/Age : |
42
Years |
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Qualification : |
B.E.
[Mechanical] |
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Experience : |
18
Years |
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Mobile No. : |
91-9811179103 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
and Exporters of Handicrafts Items, Candles, Candle Stands, Incense Sticks,
Gifts, Wrought Iron Products, Photo Frames, Jewelled Photo Frames, Baskets
and Kitchen Accessories. |
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Products : |
Candles, Incense sticks and Cones, Jewelled
Photo frames, Corporate Gifts, Kitchen Accessories, Handicrafts, Wrought iron
products like Candle holders, Candle Stands, Photoframes, Baskets etc. |
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Exports to : |
USA,
Russia, UK, Spain, France and Europe |
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Terms : |
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Selling : |
L/C,
DA and DP Local
Sales : Cash or Credit [30 days] |
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Purchasing : |
L/C,
DA and DP Local
Purchase : Cash or Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
Big
Value – USA Valuar
Marchant - USA N M C
Limited, Nodia [A Export House] |
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No. of Employees : |
17 |
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Bankers : |
State
Bank of India, Najafgarh Road, New Delhi – 110015 |
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Banking Relations : |
-- |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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8.000 |
6.000 |
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Profit/(Loss) Before Tax : 12 %
Profit/(Loss) After Tax : 8 to 9 %
Expected Sales Turnover for March
2007 Rs. 8.500 Millions and March 2008 Rs. 10.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Subject
started in 1993 as Auto Alliance, a company in automobile.
Due to
labour problem the company was closed in 2001.
At the
time of closing Sales Turnover : Rs. 5.500 Millions
As Per Website
Acra Ventures is one of India's premier manufacturers,
exporters and suppliers of an exquisite range of Candles, Candle holders, Incense sticks and Cones, Jewelled Photo frames,
Corporate Gifts, Wrought Iron products, Kitchen Accessories and Handicrafts.
They continuously strive to introduce new products in the market keeping in
mind the diverse tastes of their customers. Manufactured as per international
quality standards, the company's vast spectrum of products are designed to suit
all kinds of house interiors.
The company's range of products includes wrought iron products for decorations
and gift purpose. The range in wrought iron includes candle stands, holders, shower racks / caddy, cutlery stands and
other general purpose items. Apart from these products, they also specialize in
the manufacture and supply of incense sticks and cones which are available in
various concepts.
All the products of the company are manufactured using
the best quality raw materials. Each of their items is crafted with great care
to ensure the highest degree of perfection and to add to the beauty of any
interior. The company has made rapid strides, growing tremendously, since its
inception in the year 1993. Today, the company's products are in great demand
in countries like USA, Spain, France, Russia and UK.
Acra Ventures also endeavors to ensure complete
customer satisfaction by laying stress on the timely delivery of consignments
to its clients, from across the globe.
Company
Profile
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Business Type |
Exporter , Manufacturer , Supplier |
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Primary Competitive
Advantages |
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No of Staff |
Office staff- 15; On contract- 30-40 |
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Year of Establishment |
1993 |
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No of Production Lines |
2 |
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No of Engineers |
1 |
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No of Designers |
3 |
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Monthly Production
Capacity |
As per customer requirements |
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.09 |
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UK
Pound |
1 |
Rs.86.59 |
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Euro |
1 |
Rs.57.92 |
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 |
NO |
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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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