MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DYNASTY MODULAR FURNITURE |
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Registered Office : |
F – 13, Malviya Industrial Area, Jaipur 302 017, Rajasthan |
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Country : |
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Date of Incorporation: |
2003 |
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Financials (as on) : |
31.03.2007 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Furniture Specially Kitchen, Bed Rooms
and Other Dining Hall etc. |
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 14000 |
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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 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: |
F – 13, Malviya Industrial Area, Jaipur 302 017, |
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Tel. No.: |
91-141-4040107 / 4040106 / 2751343 |
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Mobile No.: |
91-9829066003 |
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Fax No.: |
-1-141-2750151 |
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E-Mail : |
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Area : |
3000 sq. mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Digvijay Dhabriya |
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Designation : |
Parnter |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Engineer |
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Experience : |
8 Years |
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Name : |
Mr. Chandervijay Dhabriya |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
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Experience : |
12 Years |
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Name : |
Mr. R D Dhabriya |
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Designation : |
Parnter |
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Date of Birth/Age : |
62 Years |
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Qualification : |
Graduate |
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Experience : |
34 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Furniture Specially Kitchen, Bed Rooms
and Other Dining Hall etc. |
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Exports : |
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Products : |
Furniture |
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Countries : |
Negotiating |
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Imports : |
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Products : |
Glu and Laminates |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash / Credit/Cash |
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Purchasing : |
L/C / Cash / Sight / Credit (60 days) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Furniture |
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As Per Demand |
GENERAL INFORMATION
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Customers : |
Ř
Local Customers Ř
End Users |
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No. of Employees : |
115 (100 In Factory, 15 In Others) |
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Bankers : |
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ICICI Bank, Jaipur Ř
UTI Bank |
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Facilities : |
Credit Limit of Rs. 5.000 Millions (UTI Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N K Sharma and Company Chartered Accountants |
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Address : |
Jaipur, |
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Associates/Subsidiaries : |
Kankariya Export and Alloy Private Limited Address: Jaipur, Line of
Business: Manufacturing Furniture |
CAPITAL STRUCTURE
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Capital Investment : |
(As On 31.03.2006) |
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Owned : |
Rs. 3.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 3.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
35.000 |
32.500 |
28.500 |
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Profit/Loss for the year |
1.750 |
1.565 |
1.350 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
Ř
ICICI Bank
Ř
Themis Pharma – Jaipur and
As Per Website Details:
Subject is one of the largest modular
furniture manufacturers in
Subject has established a tradition of excellence
in providing quality furniture,. The main emphasis has been to provide
furniture that is practical and affordable, as well as attractive and enduring.
The company has been able to establish a very strong bond with its clients
because of its ability to understand their needs and dedication to develop
innovative furniture solutions. The primary strength of the company lies in the
quality of the products, customization as per requirements and attention to
details for a perfect, timely and satisfactory execution. The company is also
aware of the fact that all function and no fashion would make its furniture
dull and for that reason its trained and dedicated team of designers have also
taken care of what is in and what is not.
The company has successfully executed many
projects at different levels ranging from government institutions to corporate
to individual clients. Subject operates on some of the most technologically
advanced furniture making facilities in order to meet the ever-increasing
market demand. The company is working on the latest laminates and there
qualities like four side edge banding, post forming laminates, membrane
laminated and German laminates. The company has well-trained and dedicated team
to take care of the market requirements and keep pace with the changing market
trends.
Looking to the growing corporate culture and
increasing demand for space saving and stylish furniture subject has recently
launched modular office system, which is complete office solution. Since its
inception, the company has aimed at achieving perfection with style and has
been continuously adding to its wide range of products. The product range from
modular kitchens to modular home furniture, office furniture, office furniture
and all kinds of exquisite furniture.
Subject has a very strong dealer and
distributor network all over
The company has been a part of some of the
biggest shows in
Subject aims at bringing alive the thought and
so it says “Give Shape To Your Imaginations”
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.40.48 |
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1 |
Rs.82.59 |
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Euro |
1 |
Rs.55.55 |
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 |
YES |
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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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