MIRA
INFORM REPORT
|
Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
JAI BAJRANG HANDICRAFTS |
|
|
|
|
Registered Office : |
Opp. Bhomiya Ji Ka Than, Plot No. 212, Sangarta Fanta, Salawa’s Road, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Decorative Wooden Handicrafts and Furniture |
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 400 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small concern having satisfactory track.
Proprietor is reported as experienced and respectable businessmen. 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
|
Registered Office/Factory : |
Opp. Bhomiya Ji Ka Than, Plot No. 212, Sangarta Fanta, Salawa’s Road, |
|
Tel. No.: |
91-291-6450911 |
|
Mobile No.: |
91-9414150911 / 9829483857 |
|
Fax No.: |
91-291-6451187 |
|
Area : |
1100sq.yards |
|
Location : |
Owned |
|
|
|
SOLE PROPRIETOR
|
Name : |
Mr. Krishan Ram Bajrang |
|
Designation : |
Proprietor |
|
Address : |
|
|
Date of Birth/Age : |
33 years |
|
Qualification : |
Under Graduate |
|
Experience : |
10 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporters of Decorative Wooden Handicrafts and
Furniture |
|
|
|
|
Products : |
˛ Handicrafts ˛ Wooden Furniture ˛ Antique
Reproductions ˛ Wooden Jhulla ˛ Jharokha. |
|
|
|
|
Exports : |
|
|
Products : |
Wooden Decorative products and handicrafts |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
L/C, Cash, Credit (30 days) and Sight against documents |
GENERAL INFORMATION
|
Customers : |
Local and Foreigners, Retailers and End users |
|
|
|
|
No. of Employees : |
13 ( 3Office and 10 Factory) |
|
|
|
|
Bankers : |
˛
ICICI Bank, ˛
IDBI Bank , |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Not Permanent |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.000 million |
|
Borrowed : |
-- |
|
Total : |
Rs.1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
6.000 |
5.800 |
5.500 |
|
|
|
|
|
|
Profit/Loss for the year |
0.520 |
0.450 |
0.200 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
˛ Lalji Handicrafts,
˛ Maharani Art Emporium,
As Per Web Details
Profile
A popular manufacturer and exporter of Handicrafts,
Wooden Furniture, Antique Reproductions, Wooden Jhulla, Jharokha, Subject is an
ultimate destination for Handicrafts & Handcrafted Furniture.
Since its establishment in 2000 the company has never looked back. Carefully
crafted, all its products reflect the glory of Great Indian Tradition of
Handicrafts, Wooden Furniture and Antiques. Along with the creating innovative
products the company reproduces many antiques which are still widely accepted.
A team of highly skilled craftsmen bring out indigenous crafts and furniture’s.
Look, feel & longevity of the furniture give the company an edge over the
competitors and it is trading all the way to overseas markets, i.e.,
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.33 |
|
|
1 |
Rs.79.74 |
|
Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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 |
|