MIRA
INFORM REPORT
|
Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHIVA CREATIONS |
|
|
|
|
Registered Office : |
H-78, Shastri Nagar, Jodhpur-342001, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
1990 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of Wooden Furnitures, Decorative and
Handicrafts and for Wine Products, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessmen. Trade
relations a re reported as fair. Business is active. Payments are reported as
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
H-78, Shastri Nagar, Jodhpur-342001, Rajasthan, India |
|
Tel. No.: |
91-291-2430078 |
|
Mobile No.: |
91-9413521854 |
|
Fax No.: |
91-29-2619320 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
Location : |
350 Sq. mtrs. |
|
|
|
|
Factory 1 : |
Plot No.107, Tanwada Phanta, Main road, Jodhpur-342005, Rajasthan,
India |
|
Tel. No.: |
91-291-2430078 |
|
Fax No.: |
91-291-2430078 |
|
Area : |
6000 Sq.Mtrs. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Bharti Industrial Area, Jodhpur |
|
Area : |
4000 Sq.mtr. |
SOLE PROPRIETOR
|
Name : |
Mr. Pradeep Thanvi |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
30 years |
|
Qualification : |
Graduate |
|
Experience : |
7 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Wooden Furnitures, Decorative and Handicrafts
and for Wine Products, etc. |
|
|
|
|
Exports : |
|
|
Products : |
Wooden Furniture and Handicrafts |
|
Countries : |
USA |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
Cash, Credit (60 days) and Sight |
GENERAL
INFORMATION
|
Customers : |
Local Customers and End Users |
|
|
|
|
No. of Employees : |
58 |
|
|
|
|
Bankers : |
v Punjab National
Bank, Jodhpur v State Bank of
India, Jodhpur |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
Shiva Timbers, Jodhpur Line of Business : Saw Mills Shiv Trade Links, Jodhpur Line of Business : Wooden Durnitre and Handicrafts |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.4.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.4.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
36.700 |
33.800 |
33.500 |
|
|
|
|
|
|
Profit/Loss for the year |
1.757 |
1.643 |
1.625 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
Shawati Art Export, Jodhpur
Website Details :
They possess
v Own
chemical treatment & seasoning plant 4 chambers(4000sqmt)
v Own
sawing mill
v Well
equipped polish & packing department.
v Huge stock
of raw material , all time & every time
v Manufactuing
unit
v Wholesaler
of teak wood in jodhpur
v Annual
turnover 30-40 millions
Their experience in manufacturing gives them the advantage
of quoting the best prices for all the furniture that one may desire for.
Their Textile
export product range includes –
Their catalogues or web-site do not cover the complete product range as they
are manufacturing a lot of products according to the designs and specifications
of their buyers, which they do not include in their catalogue or display at
their stand to keep the exclusivity of their customer.
Payment Terms & Conditions:
They work against following payment conditions.
Advance payment (T/T basis - Telex Transfer)
Letter of Credit (L/C)
The order will be confirmed against 40 % advanced payment & rest against
the B/L (Bill of Lading) OR against the
Letter of Credit (L/C).
Order Placement
The order can be placed by E-Mail, Fax.
Customer designed Orders
They do accept customer-designed orders.
Sample Development
Customers need to send the design & dimensional details
of the item for which sample development is desired.
There will be extra charges for sample development as well for transportation.
Packaging
Standard packaging consists of corrugated paper rolls and air bubble sheets for
the value items (large items) and corrugated paper boxes for small/tiny items.
They do accept customer specified packaging and labeling instructions.
The packaging charges will be added separately.
Delivery Schedule
The order will be supplied within 45 days from the date of
advance payment or from the date of issuing the Letter of Credit (L/C).
New Product Development
The new product development is a continue process at their
place. At certain fixed intervals, they do inform their valued buyer about
these new innovations. Also they display the same at their company
Products
v
Bed Room Furniture
v
Dining Room Furniture
v
Living Room Furniture
v
Restaurant Furniture
v
Office Furniture
v
Gifts Items
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.43.63 |
|
UK Pound |
1 |
Rs.85.58 |
|
Euro |
1 |
Rs.58.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|