MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
GENERAL
SHINGAR HOUSE |
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Registered Office : |
31/5,
First Floor, Old Rajinder Nagar, New Delhi – 110060, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer
and exporter of Imitation Jewellery and Importer of Glass and Looking
Mirrors. The subject is also trading Ladies Fashion Accessories, Artificial
Jewellery and Fashion Jewellery. |
RATING & COMMENTS
|
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 : |
USD7000 |
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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.
Proprietor is reported as experienced and respectable businessman. His 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 : |
31/5,
First Floor, Old Rajinder Nagar, New Delhi – 110060, India |
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Tel. No.: |
91-11-23519292
/ 23519293 |
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Mobile No.: |
91-9899442442
/ 9899815815 |
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E-Mail : |
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Area : |
Residential |
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Location : |
1800
Sq. ft. approx |
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Showroom
/ Administrative
Office : |
5951,
Pratap Market, Sadar Bazar, Delhi – 110006, India |
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Tel.
No.: |
91-11-23519292
/ 23519293 |
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Fax
No.: |
91-9899442442
/ 9899815815 |
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Area : |
Leased
– Commercial |
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Location : |
800
Sq. ft. approx |
SOLE PROPRIETOR
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Name : |
Mrs
Komal Malik |
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Designation : |
Proprietor |
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Address : |
31/5,
First Floor, Old Rajinder Nagar, New Delhi – 110060, India |
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Date of Birth/Age : |
50
years |
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Qualification : |
Senior
Sec. |
KEY EXECUTIVES
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Name
: |
Mr
Ambar Malik |
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Designation
: |
Key
Executive (Marketing activities) |
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Experience
: |
7
years |
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Name
: |
Mr
Rohit Malik |
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Designation
: |
Key
Executive (Import and Export activities) |
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Experience
: |
8
years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
and exporter of Imitation Jewellery and Importer of Glass and Looking
Mirrors. The subject is also trading Ladies Fashion Accessories, Artificial
Jewellery and Fashion Jewellery. |
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Products : |
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Exports to : |
The
subject is exporting Artificial
Jewellery, Fashion Jewellery and Fashion Accessories to USA, Canada, Italy
and Germany |
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Imports from : |
The
subject is importing Looking Mirrors, Glass, Artificial Jewellery from China
and Korea. |
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Terms : |
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Selling : |
On
Wire Transfer / TT Basis |
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Purchasing : |
Import
: Document against Payment Basis / Wire Transfer |
GENERAL
INFORMATION
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No. of Employees : |
Around
12 |
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Bankers : |
Punjab
National Bank Old
Rajinder Nagar Branch, New Delhi – 110060 |
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Banking Relations : |
Satisfactory |
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Sister Concern: |
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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 : |
N.A. |
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Total : |
Rs 1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
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9.000 |
7.500 |
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Profit/(Loss)
Before Tax |
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0.348 |
0.278 |
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Provision
for Taxation |
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0.063 |
0.043 |
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Profit/(Loss)
After Tax |
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0.285 |
0.235 |
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Export
Value |
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7.200 |
5.850 |
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Import
Value |
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2.250 |
1.500 |
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Total
Expenditure |
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8.652 |
7.222 |
Expected Turnover for the year ending
31.03.2007 --- Rs. 10.000 Millions approx
KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
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3.17 |
3.13 |
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Net
Profit Margin(PBT/Sales) |
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3.87 |
3.71 |
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Return
on Total Assets(PBT/Total Assets} |
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19.00 |
19.34 |
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Return
on Investment (ROI)(PBT/Networth) |
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0.23 |
0.22 |
LOCAL AGENCY
FURTHER INFORMATION
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Company Brief
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Our Business Policy General Shingar House aspires of achieving long term business
relationship with its clients based upon its ethical business practices. We
know that it is quality & creativity that pays in long term business
policy. Hence, we are always keen to keep marks of craftsmanship in all the
jewelry that we make to establish our reputation in the industry. Timely
delivering our products to our clients is an imperative for us under all circumstances. |
Product Range
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Necklace
Sets : |
Victorian
Sets, Polki Sets , Imported Sets |
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Bridal
Sets : |
Kundan
Set, Stone Sets, Polki Sets |
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Bracelets
: |
Stone
Bracelets, Micron Bracelets, Beads Bracelets |
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Bangles
: |
Metal
Bangles, Stone Bangles, Kundan Bangles |
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Hair
Clips and Clutches: |
Comb
Clips, Stone Clips, Imported Clips, Kundan Clips. |
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Hangings
and Earrings: |
Victorian,
Stone, Kundan |
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Fashion
Accessories : |
Tikka,
Toe Rings, Chains, Baby Pins, Mangal Sutra, Payal |
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Gents
Jewellery : |
Gents
Earrings, Gents Chains, Gents Tattoos, Gents Finger Rings. |
Infrastructure
General Shingar House has a well-equipped production unit that is best
suited for the manufacture of jewelry of international standard. With skilled
artisans, precisive tools, an efficient management and latest jewelry crafting
aids we are completely geared up to meet the innovative demands of the
international jewelry market.
Manufacturing Process
We hold all modern machinery & gadgets required for manufacturing
products in sync with the trends & end-user requirements. Our manufacturing
process is a blend of modern machinery & skillful craftsmanship. With
state-of-the-art processes in jewelry designing stones are laid and engravings
are made to device world class jewelry.
Quality Assurance
We deliver superior product quality to ensure complete customer
satisfaction. Stringent checks are conducted to meet the required standards in
terms of material, design, etc. At the same time stones used to design the
jewelry are checked for their cut & finish.
Customer Focus
We are a company with genuine customer focus. We try to come up with
products that meet the required industrial standards & expectations our
customers. In the various parts of the globe we try to cater designs that are
in vogue.
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Collection
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Bangles
We design exquisite bangles. They are manufactured with high quality materials
like metals and bones. The materials used make our bangles last for a long
time. They are crafted by skilled artisans. We also custom manufacture them as
per the requirements of our clients
Pendant Set
We manufacture designer pendant sets in intricate designs. Some of our pendant
sets are embedded with colored beads. We manufacture them in bulk as per the
requirement of our clients. Our designer pendant sets are in demand in India
and overseas.
Kundan Sets
Our kundan necklace sets are manufactured by skilled artisans. We use metals
and bones to manufacture them. They are made in exclusive designs as per the
demands of our Indian and overseas clients. Our necklace sets are made as per
the demands of our clients.
Bracelets
Bracelets from General Shingar House are popular for their exclusive designs.
We are a popular manufacturer of bracelets that are made from semi-precious
metals and beads. Our bracelets are made to order by domestic and overseas
clients.
Bridal Set
Bridal sets from our jewelry house are manufactured in exclusive designs. Our
bridal sets are made from semi-precious metals and jewels. They are available
in attractive designs. They are exported in bulk as per the requirement of our
clients.
Designer Bridal Jewelry Set
Bridal sets from our jewelry house are manufactured in exclusive designs. Our
bridal sets are made from semi-precious metals and jewels. They are available
in attractive designs. They are exported in bulk as per the requirement of our
clients.
Rings
We manufacture rings that are appreciated by domestic and overseas clients. Our
rings are made from semi-precious metals and stones. We manufacture them in a
collection of marvelous designs. Our wedding rings are made in contemporary
designs by our artisans. They are manufactured in bulk as per the requirements
of our clients.
Hair Clips and Clutches
We make hair clips and clutches that are appreciated in India and abroad. Our
hair clips and clutches are manufactured in an array of wonderful designs. They
are produced in bulk as per the requirements of our clients. We have a number
of overseas buyers who regularly sources hair clips and clutches from us.
Earrings
We manufacture high quality earrings. Our earrings are made in traditional and
contemporary designs. They can be manufactured in bulk as per the specification
of our clients. Our earrings have a worldwide market.
Fashion Accessories
We make fashion accessories of high quality. Our fashion accessories are
manufactured with different sets of Indian and overseas clients in target. We
have designers with knowledge of both types of designs. This makes our fashion
accessories more acceptable for both types of buyers
Gents Fashion Accessories (Tattoos)
Gents fashion accessories are the latest fad in the fashion industry. We make
high quality gents fashion accessories such as tattoos, as displayed in the
picture. Our gents fashion accessories have a wide market in the overseas
countries. We manufacture and supply them in bulk.
Imported Jewelry
We import jewelry from famous jewelry exporting countries. Our imported jewelry
is packed in good quality packaging. We also custom pack them as per the
requirement of our clients. We have long association with our suppliers to
source the jewelry at lucrative price. This makes it possible for us to sell them
in competitive rates.
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.44.72 |
|
UK
Pound |
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.57.27 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
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