MIRA
INFORM REPORT
|
Report Date : |
17.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
FORTUNE
ENTERPRISES |
|
|
|
|
Registered Office : |
A-20,
Guru Nank Pura Lane – 3, Laxmi Nagar, New Delhi – 110092 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELF03254G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABFF6201F |
|
|
|
|
Legal Form : |
Sole
Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer
and Exporter of Note Books, Paper Products, Stationery, A4 Copier Paper,
Diaries, Folders, Planners, Note Pads, Office Paper, School Stationary,
Office Stationary, Paper Stationary, Printing Paper, Paper Bags, Paper Rolls
and Paper Sheets |
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
5000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Usually
correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a small concern having satisfactory track. Trade relations are fair.
Payments are usually correct and as per commitments. The
concern can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
A-20,
Guru Nank Pura Lane – 3, Laxmi Nagar, New Delhi – 110092, India |
|
Tel. No.: |
91-11-22458412 / 42448423 / 22152409 |
|
Mobile No.: |
91-9811463563
/ 9868808120 / 9811222959 [Ms. Swati Jain] |
|
Fax No.: |
91-11-22458412
/ 22438863 |
|
E-Mail : |
|
|
Website : |
http://www.fortunepaperprodect.com
[Under Construction] |
|
Area : |
180
sq. mt. |
|
Location : |
Owned |
|
|
|
|
Factory : |
FS-79,
Laxmi Nagar, New Delhi – 110092 |
|
Area : |
360
sq. mt. |
|
Location : |
Owned |
|
|
|
|
Factory
: |
A-14/638,
Vasandhura Commercial Area, Ghaziabad |
|
Area : |
288
sq. mt. |
|
Location : |
Owned |
|
|
Subject
wanted to start new factory with investment of Rs. 10.000 Millions |
|
|
|
|
Godown
: |
SS-50,
Laxmi Nagar, New Delhi – 110092 |
|
Area : |
180
sq. mt. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mrs.
Shobha Jain |
|
Designation : |
Proprietor
|
|
Date of Birth/Age : |
66
Years |
KEY EXECUTIVES
|
Name
: |
Miss.
Swati Jain |
|
Designation
: |
Chief
Executive Officer |
|
Mobile
No.: |
91-9811463563
/ 9868808120 / 9811222959 |
|
Date
of Birth/Age : |
24
Years |
|
Qualification
: |
MBA
From London |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Note Books, Paper Products, Stationery, A4 Copier Paper,
Diaries, Folders, Planners, Note Pads, Office Paper, School Stationary,
Office Stationary, Paper Stationary, Printing Paper, Paper Bags, Paper Rolls
and Paper Sheets |
|
|
|
|
Agencies held : |
All
leading paper manufacture |
|
|
|
|
Trade Mark : |
Fortune
Gold |
|
|
|
|
Exports to : |
Nigeria,
UK, USA, Canada, Australia, Pakistan, Bangladesh, Mexico and Middle
East |
|
|
|
|
Imports from : |
Wanted
to import from China [Dealing under negotiation] |
|
|
|
|
Terms : |
|
|
Selling : |
L/C,
DA, DP and 30 days Credit Local
Sales : Cash or 30 days Credit |
|
|
|
|
Purchasing : |
L/C,
DA and DP Local
Purchase : Cash or up to 30 days Credit |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
35 |
|
|
|
|
Bankers : |
Oriental
Bank of Commerce, Vikas Marg, New Delhi - 110092 |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Associates/Subsidiaries : |
Friends Associates Established
in 1980 [For
Domestic Market] Banker
State Bank of India – Chandni Chowk, Delhi – 110006 Facilities
From Bank : Rs. 2.200 Millions No. of
Employees [Office + Factory] : 17 Sales
Turnover : Rs. 6.000 Millions |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
1.200 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
1.200 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
5.000 |
4.500 |
|
|
|
|
|
Profit/(Loss)
Before Tax : 13 %
Profit/(Loss)
After Tax : 8 to 9 %
Expected
Sales Turnover [for both the company] for March 2007 Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Subject
Company and Friends Associates, both the companies are started by Mr. S. C.
Jain [Father of Ms. Swati Jain]
AS PER WEBSITE
Profile
FORTUNE ENTERPRISES was established taking into consideration the growing need
to expand in international market; hence the company was formed with the
specific goals of expansion in world arena. With the strong backing of a group
dealing in various paper products the new company did not take much time to
establish it in front of the foreign buyers.
They are now among the few Indian
suppliers who have stood the test of China as a competition. They meet the
needs from design to despatch, timely scheduled deliveries.
Products
They are dealing into various categories of paper and paper products which are
as following:
Notebooks: They have few standard sizes for
the notebooks but they customize the sizes and material and the cover in one to
four color print as per the client. They manufacture all kinds of notebooks
like small, medium, large, registers, long books, practical, spirals, note pads
etc in all shapes, sizes and quality.
Diaries & Indexes: They produce all kinds
of diaries with double dates, single dates, calendars, maps etc. They also manufacture
promotional diaries with ads and banners, dividers along with organizers. They
also do indexes related to telephones, appointments etc.
A4paper And Paper Reels: They deal in A4
sheets in various compositions and paper reels of art paper, kraft paper,
maplitho, butter paper, glaze paper, duplex and other paper products. Also
Import Chinese paper at best rates for direct exports to the clients or local
consumption etc.
Folders: They also make conference folders,
manila folders, paper polders, files as per the designs of the clients. They
use materials like leather, rexene, fabric, plastic, fine plastic, micro-fiber
etc as per the clients requirements.
Planners/Organizers: They do all kinds of
planners with leather, leather look, rexene, plastic cover with or without
closer. They also specialize customized planners where in a calculator, watch,
pen etc can also be fitted. They have also made some very distinguished
planners for the purpose of promotion for few clients in Australia and Middle
East.
Paper Bags: As the new trend has caught up
with the new genre so has the demand of paper bags. They make paper bags in all
sizes and materials right from kraft to art paper to glaze or chromo. They also
design & print them according to client's need and requirement.
Calendars: They also do all kinds of
calendars like table calendars in all sizes, foam calendars, round calendars
with pre decided photographs or the special given photos by clients.
Send Online
Business Enquiries
Quality
When it comes to paper products, Fortune Enterprise knows no equal. Their
state-of-the-art plant with advance technology and stringent quality control
norms have further established them, as the most preferred name amongst
thousands of delighted clients. To ensure the total satisfaction of their
clients and customers, they ensure that their products conform to the highest
standards of quality and finish. The raw materials used are of the finest
quality sourced from reputed mills. An in-house team of experts strictly
supervise the entire process of production. Their most efficient, experienced
and dedicated staff works passionately to guarantee reliability and on-time
delivery
Infrastructure
They stand on the edifice of the quality and reliability. They endeavour to
improve the quality standards of their products and come out with better
quality products. The sourced products is thoroughly tested for quality before
being processed in their production departments located at export promotion
zone in Greater Noida, India . Their team of experts maintain a strict vigil on
the manufacturing process to ensure that all products are flawless.
Clients
They have a vast range of clients from small buyers to big buyers, from
seasonal buyers to regular buyers. In short span of time they have won the
trust of foreign buyers for whom the quality is a mandate but cost also
matters. They have been supplying been supplying the best quality goods at the
most unbelievable and cheap rates. Out clientele includes direct schools,
agents, buying housed, shopkeepers, traders, interpreters and direct importers.
They have been exporting to UK, USA, Canada, Australia, Pakistan, Bangladesh,
Mexico, and Middle East.
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 |
|
UK
Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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/normal. |
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 |
|