MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
GOLD AND SILVER CREATION |
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Registered Office : |
IInd Floor, Ganpati Chamber, Bhatton Ki Gali, Hawamahal Bazar, Jaipur
– 302 003, Rajasthan, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
March 2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and exporters of Gold and Silver fashionable imitation
jewellery. |
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 : |
IInd Floor, Ganpati Chamber, Bhatton Ki Gali, Hawamahal Bazar, Jaipur
– 302 003, |
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Tel. No.: |
91-141-2600039 |
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Mobile No.: |
91-9414044638 |
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Fax No.: |
91-9141-2600039 |
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E-Mail : |
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Website : |
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Area : |
400 Sq. fts. |
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Location : |
Owned |
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Factory 1 : |
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Area : |
1600 Sq. yds. |
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Location : |
Owned |
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Branches : |
At Jaipur, |
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Area : |
50000 Sq. mtrs. |
SOLE PROPRIETOR
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Name : |
Mrs. Nirmal Sharma |
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Designation : |
Proprietor |
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Address : |
Jaipur, |
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Date of Birth/Age : |
30 years |
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Qualification : |
Post Graduate |
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Experience : |
15 years |
KEY EXECUTIVES
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Name : |
Mr. Mahendra Sharma |
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Designation : |
Director |
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Mobile No.: |
91-94140 44638 / 91-98874 68377 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of Gold and Silver fashionable imitation
jewellery. |
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Products : |
v
Necklace Set v
Pendant Set v
Locket Set v
Earrings v
Bridal Set v
Rings v
Bangles v
Other Fashionable Jewellery |
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Exports to : |
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Terms : |
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Selling : |
Cash or Credit (30 days) |
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Purchasing : |
Cash or Credit (30 days) |
PRODUCTION STATUS
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Products |
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Actual
Production |
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Gold and Silver fashionable imitation jewellery |
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As per Demand |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
60 (Office: 10 ; Factory: 50) |
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Bankers : |
v
State Bank of
Jaipur, v
State bank of
Jaipur, |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Remendera and Company Chartered Accountants |
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Address : |
Jaipur, |
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Associates/Subsidiaries : |
Shrijee Enterprises Jaipur, |
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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50.360 |
52.500 |
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Profit/Loss for the year |
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1.230 |
1.220 |
Expected Sales (2007-08): Rs. 75.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v Bajrang Jewellers, Mumbai
Web site details attached:
Every woman desires jewellery items that enhance her
personality and charm by manifolds. Gold
& Silver Creation is a prominent manufacturer and exporter of
beautifully crafted gold and silver
jewellery. The company offers an exclusive collection of necklace set, pendant set, locket set, earrings,
bridal set, rings, bangles and other fashionable jewellery. They
are keenly administered by strict quality control procedures, right from the
procurement of raw materials to the shipment of finished products. Their
fashionable and exclusive Jewellery items are available in a vast variety of
colours and patterns.
The company, established in the year 2004, is a blend of
ultra modern machines and excellent workforce that provide it the perfect
equation to manufacture classic examples of human excellence. They always
promote transparent trade practices in order to maintain everlasting business
tie-ups with their valued clients.
Quality Assurance
They are a quality driven organization working with the only
motto of providing unmatched jewellery items to their valued clients. The
products are manufactured under the strict supervision of highly experienced
professionals, having decades of experience in their respective domains. They
are capable of ensuring timely deliveries within the shortest time frame
required, thus saving a whole lot of precious time of their valued clients.
Exclusive Designs
They are well supported by a team of highly creative designers fueled with high
degree of excellence in shaping the metal in the most stylish and trendy
manner. Their products are offered in a variety of designs and patterns
suitable for all age groups.
Advantages
- Wide range of
exclusive jewellery items to quench the desirable thirst of their clients
- Meeting the
exact requirements of the customers and standards of the global industry
- Enhancement
of products, both in quality and innovation
- Prompt
deliveries and customer satisfaction - their top priority
- Keeping
abreast of the ever changing trends in their field, enabling them to
deliver the best
- Goodwill in
the domestic and international markets; owing to integrity, reliability,
innovation and customer focus
- Trust and
support of a large number of satisfied clients spread across the world
Primary Competitive Advantages
Distinctive designs, variety of products to choose from, timely delivery and reasonable prices
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. 40.54 |
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1 |
Rs. 80.21 |
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Euro |
1 |
Rs. 54.51 |
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 |
9 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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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50 |
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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