MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MAJISA CRAFTS AND ARTS |
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Registered Office : |
E – 24, Govindpuri, Ram Nagar, Sodala, Jaipur – 302019, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of Home Furnishing like Bed Sheets,
Covers, Pillows Quilts etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 8000 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small, new and unknown concern. No payment are available. Initially, it should be considered for any business dealings on safe and
secured trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
E – 24, Govindpuri, Ram Nagar, Sodala, Jaipur – 302019, Rajasthan,
India |
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Tel. No.: |
91-141-2293672 |
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Mobile No.: |
91-9414447870 / 9460540470 |
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Fax No.: |
91-141-2293672 |
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E-Mail : |
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Website : |
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Area : |
400 Sq mtrs - Owned |
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Factory 1 : |
Industrial Area, Barmer |
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Area : |
1000 Sq. yds - Owned |
PARTNERS
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Name : |
Mr. Yogesh Kumar Mundra |
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Designation : |
Partners |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Name : |
Mr. Suresh Wadhera |
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Designation : |
Partner |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Graduate |
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Experience : |
12 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Home Furnishing like Bed Sheets,
Covers, Pillows Quilts etc. |
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Products : |
Home Furnishing Items
·
Bed
Covers ·
Cushion
Covers ·
Table
Covers ·
Diwan
Sets ·
Curtains
·
Mudha ·
Woolen
Carpets ·
Durries ·
Sofa
Covers All Kinds of Handicrafts
·
Wall
Hangings ·
Wooden
Carvings ·
Ethnic
Bags ·
Leather
Products |
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Exports : |
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Products : |
Home Furnishing |
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Countries : |
UAE, U.K. and France |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit [60 days] and at Sight |
GENERAL
INFORMATION
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Customers : |
Local Customers and End Users |
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No. of Employees : |
31 [In Office : 6 and In Factory : 25] |
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Bankers : |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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5.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES –
LOCAL
- Bhatiyaniji
Handicrafts, Jaipur
- Rajbeer
International, Jaipur
AS PER WEBSITE
Profile
Indian
handicrafts are a rage throughout the world, as they are characteristic of
attractive designs and vibrant colors. The culture and tradition of the country
are depicted beautifully in these crafts. Subject, established in the year 2002, has carved a niche for
itself in the competitive handicrafts and home
furnishings business circuit. They are a
distinguished manufacturer and exporter of Bed Covers,
Cushion Covers, Ethnic Bags, Wall Hangings, Woolen Carpets, Durries, Sofa
Covers, etc.
Each item is of the most superior grade and is made with utmost precision.
Clients are the centroid of all the policies framed in their organization. They
make persistent efforts to keep the buyers in good humor by never compromising
on quality. Their continual efforts have paid off in the form of a huge
clientele, spread all over the country and also in all parts of the world. 50% of their produce is exported to various countries
throughout the globe. A sales volume of more than Rs.
5.000 Millions provides a fitting testimony for the popularity of these
products. Their organization aims to continue its tryst with perfection and
further enhance the products and expand the product range.
Quality
Quality is their hallmark and is strictly adhered to in their organization.
Stringent quality control measures are followed at all stages, right from the
production till the goods are dispatched for sale in the market. Subject employs an experienced team of quality
control inspectors, who keeps a strict vigil on the production process, thereby
ensuring flawless products. Raw materials employed in the fabrication of the
products are of the highest grade and are purchased from only select reputed
suppliers. The total quality control techniques followed here are in conformance
with the national and international standards.
Infrastructure
A sound infrastructure is the backbone of every successful organization. At
subject, all their products are 100% hand crafted by some of the most skilled
and experienced craftsmen, who have been in this trade for generations. A team
of designers formulates all the exquisite designs, which are highly appreciated
by their loyal clients. They think out of the box to design the products, which
thereby, become a rage in the market. A spacious warehouse is a boon, as it
helps them store bulk produce to meet all kinds of orders within the stipulated
time frame.
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.39.41 |
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UK Pound |
1 |
Rs.81.37 |
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Euro |
1 |
Rs.58.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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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24 |
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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