MIRA
INFORM REPORT
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Report Date : |
12.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
RAJDHANI
CREATIONS |
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Registered Office : |
5544,
Gandhi Market, Sadar Bazar, Delhi – 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1981 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers
of Fashion Bangles, Antique Finished Bangles, Stone Bangles, Kundan Bangles,
Beads Bangles, Folding Bangles, Folding Cuffs & Bracelets in extremely
affordable prices. |
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
5000 |
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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 small concern in its field.
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 : |
5544,
Gandhi Market, Sadar Bazar, Delhi – 110006, India |
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Tel. No.: |
91-11-23554730/
23558312 / 65359064 |
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Mobile No.: |
91-9810359313
/ 9811280575 [Mr. Satish Sehgal] |
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E-Mail : |
pravassehgal@hotmail.com |
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Area : |
450
sq. ft. |
SOLE PROPRIETOR
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Name : |
Mr.
Satish Sehgal |
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Designation : |
Sole
Proprietor |
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Date of Birth/Age : |
35
years |
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Qualification : |
Graduate
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Experience : |
15
years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Fashion Bangles, Antique Finished Bangles, Stone Bangles, Kundan Bangles,
Beads Bangles, Folding Bangles, Folding Cuffs & Bracelets in extremely
affordable prices. |
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Exports to : |
U.K.,
U.S.A. and all European Countries |
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Terms : |
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Selling : |
L/C,
DA, DP and Cash [up to 45 days] |
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Purchasing : |
L/C,
DA, DP and Cash [up to 45 days] Local
Purchase from Mumbai |
GENERAL
INFORMATION
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Customers : |
Kangna
Place Sadar
Banzar, Delhi – 110006, India |
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No. of Employees : |
4 |
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Bankers : |
ICICI
Bank Limited Sadar
Bazar, Delhi – 110006 |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.700 million |
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Borrowed : |
-- |
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Total : |
Rs.
0.700 million |
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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6.500 |
6.000 |
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Profit/Loss Before Tax |
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12% |
12% |
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Profit/Loss After Tax |
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8% |
8% |
Expected
Sales for March, 2007 is Rs. 7.000 millions and Rs. 10.000 millions for March,
2008.
LOCAL AGENCY
FURTHER INFORMATION
The
concern was incorporated on 1981 under the name and style ‘Rajdhani Jewellers’.
The name was changed to the present w.e.f. 1996.
The
concern’s exclusive collection has the capacity to capture the senses with the
charm of unique designs and patterns.
The
concern does not have direct export.
Rajdhani Creations,
offers the most beautiful range of Fashion Bangles, Antique Finished Bangles,
Stone Bangles, Kundan Bangles, Beads Bangles, Stone Bangles, Folding Bangles,
Folding Cuffs & Bracelets in extremely affordable prices. Their exclusive
collection has the capacity to capture the senses with the charm of unique
designs and patterns.
Prelude
They are very old entrepreneurs and are well-known manufacturers and exporters
dealing in almost all types of bangles, cuffs and bracelets under the name of Rajdhani
Creations. The complete range of products manufactured by us includes fashion bangles, antique finished bangles,
stone bangles, kundan bangles, beaded bangles, folding bangles, folding cuffs
& bracelets. Minutely carved designs and delicate patterns catches
anyone's attention instantly. To enhance the quality of their products, they
have appointed some of the best designers from the related field having vast
experience.
Product Range
Their gamut of bangles, cuffs
and bracelets are famous for their awesome collection. Meticulous
production under the guidance of nifty employees results into enriched quality
of bangles, cuffs and bracelets
in extremely affordable prices.
Fashion Bangles
Antique Finished Bangles
Stone Bangles
Kundan Bangles
Beads Bangles
Invoke Bangles
Folding Bangles
Folding Cuffs
Bracelets
Excellence At Par
Their excellence lies in the invention of new designs through perfect
and flawless crafting. They manufacture ethnic and traditional range of bangles, cuffs and bracelets. Each
piece of bangle & bracelet
is carved with full care by their skilled craftsmen, who have been mastering
these arts for generations. Created with an unerring eye to detail and a
stringent check over quality, their exclusive collection includes fashion bangles, antique finished bangles,
stone bangles, kundan bangles, beads bangles, invoke bangles, folding bangles,
folding cuffs & bracelets.
Key Features
Premeditated Policies
Excellent product quality
Best Raw-materials
Huge infrastructure
Handmade & machine-made manufacturing
Sharp designs
Awesome patterns
Affordable rates
Swift delivery
Attentive customer services
Company
Profile
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Business Type |
Exporter, Manufacturer |
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Export Percentage |
50% |
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Primary Competitive Advantages |
They specialize in manufacturing exclusive designs of bangles and can
deliver anything in the category of bangles. |
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No of Staff |
0 – Office Staff, 450 – On Control |
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Year of Establishment |
2000 |
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Export Markets |
USA, Canada, UK, Australia. |
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OEM Service Provided |
No |
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Production Type |
Handmade & Machine-Made |
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Monthly Production Capacity |
1.500 millions pieces |
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Product Range |
Fashion Bangles, Antique Finished Bangles, Stone Bangles, Kundan Bangles,
Beads Bangles, Folding Bangles, Folding Cuffs & Bracelets |
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. |
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UK
Pound |
1 |
Rs. |
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Euro |
1 |
Rs. |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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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