MIRA INFORM REPORT

 

 

Report Date :

02.11.2007

 

IDENTIFICATION DETAILS

 

Name :

ANIL ART AND CRAFT

 

 

Registered Office :

479, Pal Link Road, Jodhpur – 342 002, Rajasthan

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

2002

 

 

Legal Form :

Sole Proprietory Concern.

 

 

Line of Business :

Manufacturer and Exporters of Wooden Handicrafts and 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

 

Maximum Credit Limit :

USD 8000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well – established and reputed concern. Proprietor is a young and energetic businessman. Trade relations are 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

 

Registered Office :

479, Pal Link Road, Jodhpur – 342 002, Rajasthan, India

Tel. No.:

91-291-3292191

Mobile No.:

91-9829644770

Fax No.:

91-291-3292191

E-Mail :

anilartcraft@yahoo.co.in

Website :

www.tradeindia.com

Area :

200 sq.mtrs

Location :

Owned

 

 

Factory :

LND. Area, Basni, Jodhpur

Area :

2000 sq.mtrs

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr Anil Gupta

Designation :

Proprietor

Date of Birth/Age :

32 years

Qualification :

Graduate

Experience :

6 years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporters of Wooden Handicrafts and Furniture.

 

 

Products :

·         Bedroom Furniture

·         Living Room Furniture

·         Dining Room Wooden Furniture

·         Handcrafted Wooden Furniture

·         Wooden Handicrafts

·          White Metal Furniture

 

 

Exports :

 

Products :

Wooden Handicraft

Countries :

Belgium , UK, Canada

 

 

Terms :

 

Selling :

L/C, Cash, Credit

 

 

Purchasing :

L/C, Cash, Credit (60 days), Sight

 

PRODUCTION STATUS

 

Particulars

 

 

 

Installed Capacity

Wooden Handicraft

 

 

 

70% Containers Per Month

 

 

GENERAL INFORMATION

 

Customers :

Local Customers, End Users

 

 

No. of Employees :

11 (7 in Office and 4 in Factory)

 

 

Bankers :

·         Bank of Rajasthan Limited

Address: Jodhpur – 342 002, Rajasthan, India

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Arun Mehta and Company

Chartered Accountants

Address :

Jodhpur – 342 002, Rajasthan, India

 

 

Associates/Subsidiaries :

Nil

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs. 2.000 millions

Borrowed :

---

Total :

Rs. 2.000 millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

31.03.2007

31.03.2006

31.03.2005

Sales Turnover

5.000

4.200

3.500

 

 

 

 

Profit/Loss for the year

0.320

0.250

0.150

 

 

LOCAL AGENCY FURTHER INFORMATION

 

TRADE REFERENCE:

·         Maharaja Palace, Belgium

·         SOO2 ENT, Tranto, (Canada)

 

WEBSITE DETAILS:

Subject was established in the year 2004. They are a distinguished manufacturer and exporter of Hard Wood Furniture, Handcrafted Furniture, and Wooden Furniture. Their range includes Bedroom Furniture, Living Room Furniture, Dining Room Furniture, Wooden Handicrafts, Gift Articles, Antique Reproduction, Wrought Iron Furniture, and White Metal Furniture. In a short span of time, they have carved a niche for their selves through premium quality products, proficient team, superior services, on-schedule delivery and competitive prices. To maintain a competitive edge in the global market, they have constantly evolved and improved upon their quality management system. The outstanding and innovative designs & products their designers produce is the result of several diligent hours of labor coupled with the desire to give their best to the world.

Products
They offer an impressive range of quality products like:

Bedroom Furniture

Living Room Furniture

Dining Room Wooden Furniture

Handcrafted Wooden Furniture

Wooden Handicrafts

White Metal Furniture.

Quality
Impeccable quality has always been their success mantra. They adopt stringent quality measures to ensure that only the best products are delivered to the clients. Their team of quality experts maintain a strict vigil on the manufacturing process to maintain quality standards. All their quality procedures are in accordance with the international quality standards. Their quality consciousness has further established them as a reputed name in the market.

Infrastructure
They have a strong infrastructural set up coupled with cutting edge technology. They constantly invest in the technological investment to keep pace with the dynamic market. Their state of the art manufacturing unit is complacent with ultra modern machineries required for the production of world class quality product. Their infrastructure is backed by a strong work team of highly skilled and qualified designers, technocrats and business oriented professionals having several years of industry experience. Their excellent transport facilities help them in their commitment of prompt delivery.

They are committed to provide optimum quality products and innovative designs at the most competitive prices.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.39.32

UK Pound

1

Rs.81.82

Euro

1

Rs.56.90

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

NO

--LISTED

YES/NO

NO

--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 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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions