MIRA
INFORM REPORT
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Report Date : |
17.03.2007 |
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
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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 7000 |
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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 |
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
Company Brief
General Shingar House is a manufacturer and exporter of artificial jewelry and
fashion jewelry that showcase exemplary craftsmanship. Being a fashion
concerned organization about the current jewelry trends in India, we
incorporate contemporary styles in our design to reflect the latest trend in
the fashion industry.
Our consistent effort in improving our designs and craftsmanship in our fashion
products has enabled us to satisfy our customers. This enables us to move
towards consistent growth. We ensure to deliver value-added products to our
clients worldwide & nurture a lasting relationship.
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.
Collection
We manufacture, export and supply a unique range of jewelry that suits all
types of personalities. Some of our exclusive products are:
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.44.17 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.58.62 |
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 |
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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
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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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