MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FURNITURE JODHPUR EXPORTS |
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Registered Office : |
Street No.8, Basni, 2nd Phase, Jodhpur, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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TAN No.: [Tax
Deduction Collection Account No.] |
JDHF00263E |
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PAN No.: [Permanent
Account No.] |
AABFF5945N |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of wooden antiques, wooden handicrafts,
furniture etc. |
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 16000 |
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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 concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Basni, 2nd Phase, Jodhpur, Rajasthan, India |
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Tel. No.: |
91-291-2617372/3200756 |
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Mobile No.: |
91-9828436436/9414196588 |
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Fax No.: |
91-291-2745443 |
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E-Mail : |
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Area : |
5500 sq. ft. |
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Location : |
Owned |
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Head Office : |
104, Ajmer Highway, Jodhpur |
SOLE PROPRIETOR
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Name : |
Mr. Vikas Choudhary |
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Designation : |
Proprietor |
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Address : |
Jodhpur |
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Date of Birth/Age : |
29 years |
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Qualification : |
Graduate |
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Experience : |
5 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of wooden antiques, wooden handicrafts,
furniture etc. |
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Products : |
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Exports : |
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Products : |
·
Wooden Antiques ·
Furniture |
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Countries : |
·
USA ·
Europe ·
Gulf ·
Africa ·
Middle East ·
North America ·
South America ·
Eastern Europe ·
Eastern Asia ·
Oceania |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Wooden Furniture and Antiques |
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Not Applicable |
As per Demand |
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GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
40 (7 - Office, 33 - Other) |
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Bankers : |
State Bank of Bikaner and Jaipur, Jodhpur |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Suresh Surana and Company Chartered Accountants |
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Address : |
Jodhpur |
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Associates/Subsidiaries : |
Om International, Jodhpur |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.4.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.4.000 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 |
35.000 |
33.000 |
32.000 |
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Net Profit |
1.520 |
1.450 |
1.200 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Kontanki Furniture – U.K.
Website details:
Home of the India widest range of Indian furniture. Their range includes pieces produced by the
artisans whose work is at the heart of traditional life. These craftsmen
combine personal invention and centuries-old tradition. The result is
distinctive and original furniture which brings a unique look and feel to any
room.
Bringing the old tradition back to life in the present
century - thus being able to maintain
the past glory - hence - Jodhpur being proud of it's Artisans who
replica. They have best artisans to perform finest Art work available in
market. They ensures prompt deliveries and maintain superior quality. They are
looking for long term business partners in overseas markets as antique houses,
galleries, home furnishing companies.
Their Range Includes T.V.
cabinets, side tables, telephone stands, doors, bed, Photo frames, easy chairs,
temples, to name a few. These products are made to excel to twin
purpose, decorative as well as usage. They offer exclusive and exquisite
range of wooden products of arts and crafts which are unique blend of Indian traditional and contemporary reflections. Their
premium wood transformed uncanny artifacts under the connoisseurship of experts
is astounding. Visit their portal gallery for grandeur exposition of their
quality products.
They are looking for selected distributor
(area/region/country wise) to strengthen their distributor network all over the
world and they can offer very good prices to their distributors depending on
the order quantity. They assure you that their prices are most competitive for these unique range of
handicrafts from India which you will not find anywhere in world. GUARANTEED
They are manufacturer and exporter of antique, Indian
antiques wooden and iron furniture, handicraft, gift article, old world
furniture, decorative, early 19th century antiques. They Specialize in Colonial
furniture, Period furniture, Antique reproductions, Artifacts, Decorative,
Ethnic Arts, and Handicrafts. Jodhpur is major manufacturer of various above
stated articles and trading hub for antique replica. They have best artisans to
perform finest Art work available in market. They ensure prompt deliveries and
maintain superior quality. They are looking for long term business partners in
overseas markets as antique houses, galleries, home furnishing companies. They
are in position to supply items as per client's requirements and drawings
provided by customers.
Their Range Includes Armoire T.V. cabinets, Old door T.V. Cabinet, sideboard
bed side cabinet chairs, dining set, tables, wine rack, drawers, side tables,
telephone stands, doors, bed, Photo frames, easy chairs, temples, to name a
few. These products are made to excel to twin purpose, decorative as well as
usage. They offer exclusive and exquisite range of wooden products of arts and
crafts which are unique blend of Indian traditional and contemporary
reflections. Their premium wood transformed uncanny artifacts under the
connoisseurship of experts is astounding. Visit our portal gallery for grandeur
exposition of their quality products
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.39.29 |
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UK Pound |
1 |
Rs.80.72 |
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Euro |
1 |
Rs.57.67 |
SCORE RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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46 |
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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