MIRA
INFORM REPORT
|
Report Date : |
14.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ILLUMINATION INDIA |
|
|
|
|
Registered Office : |
C-402, Ravi Chinab Building, Jangid Complex, Mira Road ( East ), Thana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturers and Importers of Lighting Raw Material |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 16000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small concern. Proprietor is reported as experienced
and respectable businessman. Trade relations are reported as fair. Payments
are reported as slow but correct. The concern can be considered for small and mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
C-402, Ravi Chinab Building, Jangid Complex, Mira Road ( East ),
Mumbai, India |
|
Tel. No.: |
91-22-65908697 |
|
Mobile No.: |
91-9322262524 |
|
Fax No.: |
91-22-28557106 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
800 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Workshop : |
11, Dadarkar Wadi Chawl, Near Dutt Pada Phatak, Adjacent to SBI Bank,
Borivali ( East ), Mumbai |
|
Area : |
600 sq. ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Naveen Kumar Shrivastava |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
30.10.1968 |
|
Qualification : |
M.B.A. Marketing |
|
Experience : |
12 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Importers of Lighting Raw Material |
|
|
|
|
Products : |
v Waterfall Fancy
Lights v RGB n Steps v Led in Glass
Steps v Stars in Ceiling v Fibre- Optic
cable on Ropeway v Led Strip in
cove v Led on Floor
Designing v Led in Outdoor
Designing v Led in An
Acrylic Bamboo v Led in An
Acrylic Nitches v Sideglow Curtain
Glass v Chandelier By
Glass Fibre v |
|
|
|
|
Imports : |
|
|
Products : |
Lighting Raw Material |
|
Countries : |
v Japan v Italy v Germany v South Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Credit ( 30 Days ) |
|
|
|
|
Purchasing : |
T/T, Advance |
GENERAL
INFORMATION
|
Customers : |
v House Owners v Shopping Malls v Private Bunglow |
|
|
|
|
No. of Employees : |
5 |
|
|
|
|
Bankers : |
Axis Bank Mira Road Branch, Mumbai, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Dubey Vijay Chartered Accountants |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 3.000 Millions |
|
Borrowed : |
Rs. 1.000 Millions |
|
Total : |
Rs. 4.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover ( Approximate ) |
|
7.000 |
5.000 |
Expected Sales (2007-08) : Rs. 10.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
v
Speciality Restaurant
v
Ekta Builders
v
Sitara Builders ( Borivali )
About Them
Catering to the market demands of innovative lighting
solutions, They a,” offer to their clients their valuable industry experience
and expertise in the designing and development of exquisite and long lasting
lights like led light strip, fibre optic lighting, led floor lighting, outdoor
led lights, waterfall fancy led lights, led lights for steps which are
available in varied sizes, shapes, colors and designs. The range offered by
them includes led strip in cove, led on floor designing, led in outdoor designing,
led in an acrylic bamboo, led in an acrylic nitches and many more.
Their company was established in the year 2004, by Mr. Naveen Shrivastava, who
has with him around a decade of experience of this field. His visionary
guidance and dedicated support from their team has enabled them to successfully
meet the varied product demands of their clients.
Today, their expertise in creating and delivering a wider range of premium quality creative lighting solutions has helped them to emerge as one of the leading and dependable lighting solutions provider in the industry. Their enhanced knowledge on the subject also allows them to deliver them in customized finishes that suit the specific topography and other demands of their clients.
Aim
To design and develop a wide range of innovative designing solutions that
meet the aesthetic tastes and decorative needs of their clients.
Their Product Range
They offer to their clients a exclusive range of lighting solutions including led light strip, fibre optic lighting, led
RGB in steps, led floor lights, led outdoor lights, glass fibre sideglow curtain that meet the decorative, designing
and other requirements of their clients. They are manufactured using:
v Fibre optic material: Imported from Japan (Mitsubishi).
v Led (1 watt): sourced from reputed led making company Lexon.
v 5 mm led: Sourced from reputed local vendors.
The judicious mix of high quality construction material and their creative
expertise also enables us to meet the tastes and aesthetic demands of their
clients. The range offered by them include led on floor designing, led in
outdoor designing, led in glass steps, stars in ceiling, fibre-optic cable on
rope way and many more.
Customized Solutions
The creative energy of their team of designers and active support from the technicians and allied workforce enables them to bring out for their clients an enchanting collection of lights that are liked for their quality and finish. Their strong hold over the involved processes also assist them in designing and developing customized solutions that meet the complete interior and exterior décor needs of their clients. They provide customization in terms of Colors, Shapes, Sizes and many more.
Their Team
They have with them services of experienced designers, lighting technicians and allied workforce, who assist them in flawlessly conducting their production processes and in ensuring that their lighting products meet the prevailing quality & durability industry standards. Their collective industry expertise also allows them to develop new range of lighting solutions that meet the exact interior and exterior decorative requirements of their clients.
Quality Features
They are a quality conscious company and ensure that their products provide better service life and safety to their clients. Their team of quality control experts undertake stringent checking measures at different stages of production processes. Some of the checks undertaken by them include:
v Manual inspection.
v Soldering check.
v Led mounting check.
v Uniformity in light check.
These checks and other innovative & cost effective measures adopted by them during different processes assures their clients of procuring from them high quality bearing lighting products at competitive prices.
Infrastructure
Facilities
Their modern infrastructure facilities featuring requisite machinery equipment enables them to successfully manufacture a wide range of high quality lighting solutions. The services of industry professionals having strong hold over the involved production processes also helps them to develop customized solutions that meet the expectations and specific demands of their clients.
For meeting the order delivery targets during festive time and for bulk orders,
they also have tie ups with leading manufacturers to whom they outsource the
job work except for PCB lighting, which is done in their own workshops.
Research Facilities
Their team of experienced research professionals enable them to keep in regular touch with the national and international markets and keep a tap on the emerging technologies in their sector. It helps them in further updating their technical knowledge and help them in developing customized and new lighting solutions that meets the exact needs of their clients.
Distribution Network
Their well developed distribution network comprising of reputed C&F agents help us in the safe and timely delivery of their products to their destination addresses and also assist them in further extending the reach of their products in the national and international markets.
Clientele
Their consistency in delivering superior quality and diverse range of lighting solutions has enabled them to successfully meet the complete decorative and allied needs of their clients. Further the capability of their team to deliver them in customized finishes and their competitive prices has also helped them to make many quality concious clients in the global markets.
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. 39.39 |
|
UK Pound |
1 |
Rs. 81.31 |
|
Euro |
1 |
Rs. 57.44 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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. |
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 |
|