MIRA
INFORM REPORT
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Report Date : |
26.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHREE EKLINGHNATH MARBLES |
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Registered Office : |
G-1, 66-67, Udyog Vihar, Sukher, Udaipur – 313004, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1989 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JDHS02188E |
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PAN No.: [Permanent
Account No.] |
AAFFS3589P |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of Marbles, Slabs and Tiles |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed concern having satisfactory track. Partners are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. 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 : |
G-1, 66-67, Udyog Vihar, Sukher, Udaipur – 313004, Rajasthan, India |
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Tel. No.: |
91-294-2440085 / 2441285 / 3294285 / 2230797 |
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Mobile No.: |
91-9829040085 |
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Fax No.: |
91-294-2440723 / 2441285 |
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E-Mail : |
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Website : |
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Area : |
50000 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mrs. Nita Parmar |
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Designation : |
Partner |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Yash Pal Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Marbles, Slabs and Tiles |
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Exports : |
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Products : |
Marble Slabs and Tiles |
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Countries : |
USA, Europe and Japan |
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Imports : |
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Products : |
Machinery and Parts |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit [60 days] and at Sight |
GENERAL INFORMATION
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Customers : |
Local Customers and End Users |
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No. of Employees : |
128 |
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Bankers : |
Bank of Baroda Udaipur |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Nirmal Singhani and Company Chartered Accountants |
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Address : |
Udaipur |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 [Expected] |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
75.000 |
62.500 |
61.500 |
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Profit/Loss for the year |
5.531 |
4.500 |
4.300 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
-
Crossland – USA
Shree Eklingnath Marbles, a leading supplier and exporter of
Indian Marble, Granite and Sandstone has quality products famous for their
beauty, endurance and texture.
Shree Eklingnath Marbles inherits the legacy of dedicated
efforts, quality products and high priority to customer care and satisfaction.
They have expertise in different finishes of Stones mainly
in Antique, Sandblasting, Bush Hammering, River washed & Honed Finish. A
varied range of products provide architects & designers a variety of high
quality building stones to work with. With their superior material selection
& value engineering experience, they can furnish quality stone at
competitive prices.
They have their own state of art processing plants for
Marble at Udaipur with a Total Built up space of 10000 Sq. Mtrs, wherein they
have the following:-
- Diamond
Gangsaw Machines – 3 Nos. with Sawing capacity of 1, 00,000 Sq. Mtr. Per
Annum
- Line Polisher
- Make of Breton SPA, Italy
- Bridge Cutter
- Calibrating
Machine
- Tiling Unit -
65000 Sq. Feet Per Month Production Capacity producing all sizes like 10,
12, 13, 15 MM offered in all thicknesses.
State-of-art licensed production and dressing facilities
complemented by extensive mobile labour permits them to maintain superior stone
processing capabilities. They have also have their own quarry of Dev Rosa at
Udaipur wherein they produce 10000 Sq. Mtr. of material. They also have
excellent pool of about 100 Man power which give shape to their company's
efforts.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.17 |
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UK Pound |
1 |
Rs.86.69 |
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Euro |
1 |
Rs.58.22 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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51 |
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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PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions