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MIRA
INFORM REPORT
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Report Date : |
15.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHILPA
COSMETICS (INDIA) |
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Registered Office : |
E-58/59,
Jhandewalan Flatted Factory Complex, Rani Jhasi Road, New Delhi-110055, Delhi |
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Country : |
India |
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Date of Incorporation : |
1974 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer
and Exporter of Eye cosmetics and accessories like kajal, mascara, eye liner,
stick and, Eye bro pencil |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is reported to be an old and established concern. The management remained
non-cooperative despite several follow-ups. Nothing much could be said about
the concern at present. The
concern can be considered for any business dealings on fully safe and secured
trade terms and conditions only. |
LOCATIONS
|
Registered Office : |
E-58/59,
Jhandewalan Flatted Factory Complex, Rani Jhasi Road, New Delhi-110055,
Delhi, India |
|
Tel. No.: |
91-11-23626527
/ 23679734 |
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Mobile No.: |
91-9811095432
/ 9891333668 |
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Fax No.: |
91-11-23679734 |
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Email : |
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Area : |
250 X
2 nos |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr.
Jatin Arora |
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Designation : |
Proprietor |
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Address : |
New
Delhi |
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Date of Birth/Age : |
30
Years |
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Qualification : |
Graduate
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Experience : |
7
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Eye cosmetics and accessories like kajal, mascara, eye liner,
stick and, Eye bro pencil |
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Products : |
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Brand Names : |
‘Sheetal
Kajal’ |
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Exports to : |
Nepal,
Saudi Arabia, Dubai, Srilanka and Middle East and Europe |
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Terms : |
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Selling : |
Cash, Credit [30 days] or at sight |
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Purchasing : |
L/C,
Cash and Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
Manufacturer
and Wholesalers of cosmetics, Retailers and End Users |
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No. of Employees : |
35 |
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Bankers : |
Punjab National Bank, New Delhi |
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Banking Relations : |
-- |
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]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
25.000 |
19.600 |
18.500 |
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Net Profit |
0.900 |
0.850 |
0.712 |
Projected
Turnover for Current Year [2006-07] over Rs. 30.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Mr.
Jatin Arora seems to be proprietor, is non-cooperative. Most of the time he
remained out of office for several days.
Website Details :
Subject is a Delhi
based manufacturing company, established in 1974 that caters to eye cosmetics,
accessories which fulfills the goal of wearing make up that is to make the
wearer more attractive. For most women that involves simulating the appearance
of health and youth. Kajal, eyeliner, mascara and waterproof kum-kum is worn to
make the eyes appear larger, and thus, more youthful and innocent. They have a
galaxy of choices of these to get today's hottest new looks.
Their in-house has a complete unique infrastructure of quality production of
latest machines under rigorous quality control and strict supervision of the
technical staff. The products are based primarily on the inherited old experience
and the consistent modern research which together help the company to introduce
new formulations and preparations for eye care.
Today, after an experience of two decades they wish to expand themselves as the
most advanced, technical and innovative infrastructure providing entire range:
·
Sheetal Kajal (2 Gms and 0.5 Gms.)
·
Sheetal Kajal Stick (Large and Mini)
·
Sheetal Kajal Pencil (Large and Mini)
·
Sheetal Mascara (Large, Medium and Little)
·
Card Kajal
·
Mirror Kajal
·
Waterproof Kum-Kum
·
Sheetal Eye liner (Large and Little)
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.44.61 |
|
UK
Pound |
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.57.54 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
|
27 |
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 |
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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 |
|
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 |
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