MIRA
INFORM REPORT
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Report Date : |
14.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SPARSH JEWELLERS |
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Registered Office : |
3795, Choudhary Ka Darwaja, 3rd Crossing, MSB Ka Rasta,
Johari Bazar, Jaipur – 302003, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Trader and Exporter of gold and silver jewellery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track.
Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active, Payments are however
reported as slow but correct. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
3795, Choudhary Ka Darwaja, 3rd Crossing, MSB Ka Rasta,
Johari Bazar, Jaipur – 302003, Rajasthan, India |
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Tel. No.: |
91-141-4007460 |
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Mobile No.: |
91-931457461 |
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Fax No.: |
91-141-4007461 |
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E-Mail : |
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Area : |
100 sq. ft. |
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Location : |
Owned |
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Factory: |
3795, Choudhary Ka Darwaja, 3rd Crossing, MSB Ka Rasta,
Johari Bazar, Jaipur – 302003, Rajasthan, India |
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Area : |
305 sq. yds. |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mrs. Meena Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
28 years |
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Qualification : |
Post – Graduate |
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Experience : |
7 years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Exporter of gold and silver jewellery |
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Products : |
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Exports : |
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Products : |
Jewellery |
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Countries : |
·
UAE ·
U.K. ·
France |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
6 |
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Bankers : |
ING Vysya Bank, Jaipur |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P. C. Bafna and Associates Chartered Accountants |
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Address : |
Jaipur |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 Million |
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Borrowed : |
- |
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Total : |
Rs.1.000 Million |
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 |
5.000 |
4.500 |
4.000 |
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Profit/Loss for the year |
0.350 |
0.220 |
0.180 |
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LOCAL AGENCY
FURTHER INFORMATION
Website details:
Jewellery is all about the self discovery of a woman. Subject has been celebrating womanhood with its exquisite range of
jewellery, since its inception in 2003. Within a short period of time, they
have become a name to reckon with at home and abroad. Their concern is the
reservoir of unwavering consumer trust. They are a distinguished manufacturer and exporter of Gold Diamond Jewellery, Gold Silver Victorian
Jewellery, 92.5 Semi Precious Stone Studded Silver Jewellery, Fashion and
Imitation Jewellery, Costume & Fashion Jewellery, etc. Each of their
products is a timeless piece of art. Their collection of jewellery is renowned
for possessing alluring beauty and unsurpassed brilliance.
They provide the work of the traditional Indian craftsmen -
the karigars, who specialize in different styles of jewellery making. Their brand
guarantees purity. The concern is a reputed house of the best jewellery
designers in the country. Various ancient inspirations are crafted into modern
forms, thus making the perfect piece of Jewellery for "the contemporary
woman". They also provide jewellery according to the customized designs
provided by their customers.
Product Range
Their collection comprises of contemporary pieces of light
weight and beautiful designs ideal for the modern woman who creates her own
rules. Subject is an eminent manufacturer and exporter of numerous varieties of
Bracelets/ Bangles, Fashion Necklaces, Pendants and Rings in the
categories of:
- Gold Diamond Jewellery
- Gold Silver Victorian Jewellery
- 92.5 Semi Precious Stone Studded Silver Jewellery
- Metal Jewellery
- Stone Studded Silver Jewellery
- Fashion and Imitation Jewellery
- Synthetic Stone Studded Jewellery
- Costume & Fashion Jewellery
- Cz Jewellery.
Quality Assurance
Every jewellery piece crafted by our karigars is unique,
with a distinct personality and individual beauty of its own. They understand
that selecting the finest diamond is an intuitive art, and therefore they have
the most experienced diamond professionals for this responsibility. Premium
quality of the stones and metals is ensured through their access to some of the
rich and productive quarries in this field. Their primary focus of providing
Quality Products along with optimum Customer Service has been achieved through
implementation of formal organizational structures and operational systems, thereby
attaining the highest level of professionalism.
Infrastructure
With the vast knowledge and understanding of the jewellery industry, Subject
have achieved sustainable growth in the industry. The primal strength of their unit
is based on state-of-the-art technologies and highly skilled craftsmen. An
effective strategic planning, quality control measures, human resource
development and ongoing research and development process have enabled them to
secure a huge number of satisfied customers all over the globe.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.39 |
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UK Pound |
1 |
Rs.81.31 |
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Euro |
1 |
Rs.57.44 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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30 |
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. |
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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