MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
BIJNANI ART EMPORIUM |
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Registered Office : |
288, Gali No.13, Milkman Colony, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of
Hand Articles, Wrought Iron Furniture, Candle Stands, Antique Reproduction
Furniture, 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 : |
USD10000 |
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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.
Proprietor is 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 : |
288, Gali No.13, Milkman Colony, |
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Tel. No.: |
91-291-2787764 |
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Mobile No.: |
91-9829027764 |
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Fax No.: |
91-291-2787764 |
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E-Mail : |
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Website : |
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Area / Factory: |
800 square mtr. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Tara Chand Bijani |
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Designation : |
Proprietor |
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Address : |
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Date of Birth/Age : |
45 years |
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Qualification : |
Under Graduate |
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Experience : |
16 years |
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Date of Appointment : |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Hand Articles, Wrought Iron Furniture,
Candle Stands, Antique Reproduction Furniture, etc. |
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Products : |
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Exports : |
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Products : |
Handicrafts |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days), |
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Purchasing : |
L/C, Cash, Credit (30 days) and at
Sight. |
GENERAL INFORMATION
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Customers : |
Local and Foreigners and Retailers and
End User |
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No. of Employees : |
20 |
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Bankers : |
Canara Bank, |
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Facilities : |
Rs. 1.000 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P.R. Singhvi and company Chartered Accountant |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Million |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 Million |
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 |
7.000 |
6.700 |
6.500 |
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Profit/Loss for the year |
0.450 |
0.373 |
0.267 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
1)
Power Deal International,
2)
HOSO India Private Limited, Noida
Top-notch and unrivaled Gift Articles, Wooden Boxes, Handicrafts, Wrought
Iron Furniture, Antique Reproduction Furniture, etc....
Company Profile
A well decorated home and pleasant surroundings arouse within they the desire
to spend more time at their dwellings. Their homes are an extension of their
outlook towards diverse things and they, at Bijani Art Emporium, strive
to meet the individual tastes and preferences of customers with their world
class home-decor accessories. They are a leading and renowned manufacturer
and exporter of Handicrafts, Gift Articles, Wrought Iron Furniture,
Candle Stands, Antique Reproduction Furniture, etc. Their firm came into
effect in the year 1980 and since then, there has been no looking back for
they.
It has been their constant endeavor to introduce innovative and
superlative quality decorative items in the market. This is the reason behind
the popularity of their corporate entity and strong foothold in the industry.
Apart from this, their extensive experience enables they to understand and meet
the requirements of their clients, spread all over the world and serve them to
the best of their ability. However, their philosophy is constant hard work,
round-the-clock efforts and improvisation of their products on a regular basis.
This helps they to remain a step ahead of their contenders and make progress at
a rapid pace.
Their products act as the mediators between they and their clients and represent their strong foothold in the marketplace. They separate Bijani Art Emporium from others engaged in the same domain, thereby creating a distinct position for ourselves.
Their
Infrastructure
They are privileged to be backed by a state-of-the-art infrastructure, which is
the lifeline of their company. Their infrastructure comprises of advanced level
equipments and skilled and talented workforce. In order to yield desired
results from them, they replace old machineries with new and improved ones and
conduct regular training sessions for their employees. As a result, they
succeed in delivering world class decorative products to their ultimate
destination.
Quality.....Their Hallmark
Supreme and authentic quality is the trademark of Bijani Art Emporium. Their
experts conduct thorough quality checks at every level, right from the
manufacturing stage till the product is ready for delivery. These checks are in
accordance with global standards and leave no scope for a defective product. It
is by the virtue of their flawless and genuine quality products that they are
able to sustain and expand their client base.
Bijani Art
Emporium Because.....
- High-end
customer satisfaction
- Premium and
unmarred quality products
- Stable
infrastructure to back their operations
- Eye catching
designs, attractive colours and durable products
- Regular
introduction of novel handicrafts, wrought iron furniture, candle stands,
photo frames, antique reproduction furniture, etc. in the market.
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 |
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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