MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION
DETAILS
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Name : |
ANUSHKA HANDICRAFTS |
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Registered Office : |
Anushka House, D-15, Kiran Garden, Uttam Nagar, New Delhi -110059 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1998 and Export activity started 2003 |
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Legal Form : |
A Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Handicrafts – Glass handicrafts, Wooden handicraft, Gifts and Candle |
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 8000 |
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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 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 : |
Anushka House, D-15, Kiran Garden, Uttam Nagar, New Delhi -110059 |
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Tel. No.: |
91-11-25341426 |
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Mobile No.: |
91-9312505950 |
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Fax No.: |
91-11-25342783 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. ft |
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Location : |
Owned |
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Source Centre : |
Ø Firozabad Ø Saharanpur Ø Jodhpur Ø Lucknow |
SOLE PROPRIETOR
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Name : |
Mr. Adarsh Gupta |
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Designation : |
Proprietor |
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Mobile No.: |
91-9312505950/9810430073 |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Com, MBA (Intl. Marketing) |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Handicrafts – Glass handicrafts, Wooden handicraft, Gifts and Candle |
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Exports : |
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Countries : |
Switzerland, France, Hungary, U. K. Saudi Arabia and Australia |
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Terms : |
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Selling : |
L/C and CAD/ D/A some of percentage advance payment |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Chain Stores |
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No. of Employees : |
39 |
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Bankers : |
American Express Bank, Connaught Place, New Delhi – 110001 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 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 |
30.000 |
23.000 |
10.000 |
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Export Value |
30.000 |
NA |
10.000 |
LOCAL AGENCY
FURTHER INFORMATION
Subject exports handicrafts.
The concern is in trade terms with :
Ø Monor, Switzerland
Ø The Candle Company, New Delhi
Ø Cades, Paris, France
Ø The Blind Relief Association, New Delhi
Ø Derrah Trading Establishment, Saudi Arabia
Ø Monor, Switzerland
Expected Sales Turnover of March 2006: Rs. 20.000 millions
AS PER
WEBSITE
Company Profile
About ten years back, a dream was born to cater the world
market with innovative and environmental friendly Handicrafts. The dream was
personified in the name of Anushka Handicrafts. Today they are the leading
Manufacturer & Exporter of Handicrafts- made of Glass, Wood, Metal and Other
Natural Material, Wooden Furniture & Readymade Garments. Their
Handicrafts include mainly Home and Office Decoration Items, Gifts, Utility items, Novelties,
Christmas Ornaments etc.
Quality
Since its inception, the organization has established itself
as a Trend Setter. It is committed to provide an enhanced customer satisfaction
by supplying quality handcrafted products on consistent basis and meeting
diverse customer requirements. They continue the tradition of quality with
their services. Their range is most exclusive and clearly reflect the quality
and designer edge over the other products in the market. The products of the
company are mainly exported to Europe. They also have valued customers in U.S.A. and South Africa.
Most of their Glass Items are made on Mouth-blown and
Handmade Glass Technique. They also make Automatic & Semi Automatic Machine
Made Glass. The wooden Handicrafts and Furniture are made from seasoned wood,
which is free from termite and other insects. They use all the ethnic and new
finishing techniques for Metal made and other natural material made
handicrafts.
Infrastructure
Anushka Handicrafts is an organization with a sound
infrastructure and highly skilled workforce. As they make Handicrafts, most of
the work is done by their artisans by their expert hands. Still they have all
the basic infrastructure like the Clear Glass and Colour Glass Pot Furnaces,
culliman, cutting, grinding and polish machines, wood - seasoning plant etc.
They have two well equipped units at Firozabad and Saharanpur in the North
Provine of India.They involve more than one hundred skilled artisians. All the
departments like Production, Quality Control, Packing, Dispatch and Sampling
have very good co-ordination.
Product Range
Their Product Range includes mainly:
(A)
Flower Vases, Fruit Bowls, Candle Holders & Votives,
Wine Accessories, Perfume Bottles, Bottles & Jars, Tumblers, Ashtrays,
Vanity boxes, Lanterns, Statues &Toys, Door Handles, Hangings, Crystals and
Christmas Ornaments Made
of Glass
(B)
Wooden Handicrafts and Wooden Furniture Made of Wood
(C) Jewellery
Boxes, Tissue Boxes, Other Boxes, Picture Frames, Big-Mirrors, Table items,
Diaries, Telephone Diaries & Note Books Made of Stones, beads, zari, paper, sea-shells etc.
(D)
Garden Tools, Coaster-Sets, Picture Frames, small
handicrafts.. Made
of Metals
(E)
Readymade Garments For Ladies & Gents Made of Pure Cotton, Silk,
Jorjett etc. with Handmade Designs
Clientele
Anushka Handicrafts is known for its reliable performance that earned accolades
from its worldwide buyers. It is committed to provide the best quality, timely
delivery and most competitive prices. The products of the company are mainly
exported to Europe. They also have valued customers in U.S.A. and South Africa. They are
known for their best quality products, perfect packing, timely delivery and
most competitive prices all over the world.
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 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.41.29 |
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UK Pound |
1 |
Rs.82.30 |
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Euro |
1 |
Rs.56.20 |
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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