MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
INDIAN CRAFTS |
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Registered Office : |
D-21/5, Okhla Industrial Area, Phase II, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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IEC No.: |
0597052778 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELI3528A |
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PAN No.: [Permanent
Account No.] |
AAIPM8333J |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and exporter
of exclusive handcrafted items. |
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. Proprietor is reported as experienced and respectable businessman.
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 : |
D-21/5, Okhla Industrial
Area, Phase-II, |
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Tel. No.: |
91-11-26388952 / 26388954 / 53 / 55 |
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Mobile No.: |
91-9871381702 / 9871381701 / 9871381704 / 9810067872 |
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Fax No.: |
91-11-26388954 / 53 / 55 |
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E-Mail : |
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Website : |
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Area : |
440 sq. mt. 3 Floors |
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Location : |
Owned |
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Factory : |
D-22/2, Okhla Industrial
Area, Phase-II, |
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Area : |
440 sq. mt. 4 Floors |
SOLE PROPRIETOR
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Name : |
Mr. Pradeep Malhotra |
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Designation : |
Proprietor |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
KEY EXECUTIVES
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Name : |
Mr. Pradeep Malhotra |
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Designation : |
Chief Executive Officer |
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Name : |
Mrs. Pooja Pradeep Malhotra |
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Designation : |
Export Manager |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter
of exclusive handcrafted items. |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
LC only |
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Purchasing : |
Advance, Cash or Credit |
PRODUCTION STATUS
Capacity to increase production by : 30 %
GENERAL INFORMATION
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Suppliers : |
Purchase of raw material from open market |
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No. of Employees : |
25 |
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Bankers : |
American Express Bank, C Place, New Delhi – 110001, India |
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Facilities : |
Rs. 1.500 Millions |
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Banking
Relations : |
Good |
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 |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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32.000 |
30.000 |
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Profit/Loss for the year |
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11 % |
11 % |
Expected Sales (2007-08) : Rs. 40.000 Millions
LOCAL AGENCY FURTHER INFORMATION
History
Crafts
As Per Website
Profile
Nature has provided
an inherent magical power to the human hands - the power of infusing life into
the dead and silent materials like wood, mud, stone, etc. by shaping them into
beautiful marvels termed as handicrafts. Handicrafts from
The company
strictly adheres to stringent quality control measures at every level of its operational
process to ensure premier quality. Their dignified reputation in the market is
due to their integrity, reliability, innovation and customer focus. The
impeccable quality of their products has helped them to earn the trust of a
huge clientele spread at every corner of the globe.
Quality Assurance
Since the
beginning, their primary focus has remained to maintain superior quality of
their products. They follow a strict quality management programme comprising of
several inspection procedures throughout the manufacturing process. This entire
process is monitored by a team of proficient quality inspectors who are
experienced enough to foil every attempt on the quality front.
Alluring Designs
Indian Crafts is well
supported by a team of the best artisans and designers who possess an astute
judgmental knowledge regarding the market to design the marvels of human
excellence. Their designers always try to exploit their imaginative power to
the full potential and deliver fabulous and aesthetic items for the home decor.
Indian Crafts Because :
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Wide range of exclusive items under one roof
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Their range of furniture gives the complete aesthetic look to the
interiors of a home
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Trust and support of a large number of satisfied clients from
across the world
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Backed by a qualified team of acumen and proactive employees as
well as advance machineries
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The sheen and shine of their intricate work of art showcase the
rich Indian culture
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Well supported by a team of highly creative designers who are
capable of designing the perfect solutions.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.41 |
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1 |
Rs.81.37 |
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Euro |
1 |
Rs.54.98 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
YES |
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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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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
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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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