MIRA INFORM
REPORT
|
Report
Date : |
26.05.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
C-189,
Shastri Nagar, Jodhpur-342003, |
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Date of
Incorporation : |
2000 |
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IEC
No. : |
1305024648 |
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Com.
Reg. No.: |
08062706383 |
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PAN
No. : |
AFTPA8927n |
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Legal
Form : |
Sole Proprietary concern |
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Line
of Business : |
Manufacturers and exporters of wooden furniture. |
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 |
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Maximum
Credit Limit : |
USD 20000 |
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Status
: |
Satisfactory
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Payment
Behaviour : |
Usually
correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well-established small manufacturer of furniture.
Trade relations are fair. Payments are reported as correct and as per
commitments. The concern can be considered for small to mediocre
business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
C-189,
Shastri Nagar, Jodhpur-342003, |
|
Tel.
No.: |
91-291-2432120, 91-291-5120716 |
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Mobile
No.: |
91-9829136848 |
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Fax
No.: |
91-291-2638756 |
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E-Mail
: |
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Website
: |
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Area : |
300 sq. mtrs. |
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Factory
1 : |
9A, New Nakoda Industrial Area, II nd phase - Basni |
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Area : |
2500 sq. mtrs. |
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Factory
2 : |
Near Bihari Colony, Basni – II nd Phase |
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Area : |
2200 sq. mtrs. |
SOLE
PROPRIETOR
|
Name : |
Mr. Jetain Agarwal |
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Designation
: |
Sole proprietor |
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Address
: |
C-189, Shastri nagar, |
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Date
of Birth/Age : |
28 years |
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Qualification
: |
MBA ( |
BUSINESS
DETAILS
|
Line
of Business : |
Manufacturers and exporters of wooden furniture. |
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Products
: |
Wooden furniture, Gift articles, Handicrafts |
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Brand
Name : |
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Exports
: |
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Products : |
Wooden furniture, Gift articles, Handicrafts |
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Countries : |
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Imports
from : |
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Terms
: |
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Selling : |
L/C (30% Advance, balance against fax copy of B/L) |
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Purchasing : |
L/C |
GENERAL
INFORMATION
|
Customers
: |
Wholesalers, Show-rooms, Retailers, End Users, OEM’s |
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No. of
Employees : |
43 (in office 8, in factory 35) |
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Bankers
: |
IDBI, |
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Banking Relations : |
-- |
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]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales
Turnover |
10.000 |
7.000 |
5.000 |
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Profit/Loss
for the year |
NA |
NA |
0.700 |
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Export
Value |
90% |
100% |
100 % |
Expected Sales (March 2008- Rs. 10.000 Millions)
LOCAL
AGENCY FURTHER INFORMATION
AS PER WEBSITE
Overview
Wooden furniture manufacturers, Indian furniture, wooden
furniture exporters, handcrafted wooden furniture, wooden furniture India, handicrafts
manufacturers, custom made wooden furniture, contemporary wooden furniture,
ethnic furniture, she sham furniture, rosewood furniture, antique furniture,
painted furniture, carved furniture, oriental furniture, wood furniture
suppliers, wooden furniture wholesalers, wood furniture, Indian wooden
furniture, wooden handicrafts exporters, wooden handicrafts manufacturers,
furniture suppliers,
Subject offers an exhaustive and extensive range of Wooden,
stone , Iron handicrafts and textiles. The
Infrastructure
Situated in
Quality
At Sunrise International, skilled craftsmen manufacture
every product to perfection. They adhere to strict quality measures at every
stage of production to ensure excellent quality. The team of craftsmen have
expertise in their respective fields who can chisel out intricate products with
utmost ease and can carve out products as per customer specifications. They
have a quality-oriented and dedicated team of personnel that ensures flawless
products at every stage. The thorough inspection and immaculate visualization
leads to a matchless selection of material and designs they are known for.
Clients
They have won the trust and confidence of their wide spread
clients. They adhere to the principles of quality, mutual benefit, contract
hontheiring and honesty which helps them to build everlasting relations with
their customers.
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
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.
Their 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.40.60 |
|
|
1 |
Rs.80.65 |
|
Euro |
1 |
Rs.54.55 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
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FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
|
--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 |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
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 |
|
TOTAL |
|
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
|
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 |