MIRA
INFORM REPORT
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Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
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Name : |
RPS CREATORS |
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Registered Office : |
MIG 936, 1st |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
The subject is engaged in the business of Interior Decoration and
Furnishing |
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 : |
-- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
MIG 936, 1st |
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Tel. No.: |
91-44-22445056 |
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Mobile No.: |
91-9444070409 / 9444070407 |
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Fax No.: |
91-44-22445056 / 22553831 |
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E-Mail : |
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Website : |
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Area : |
1000 Ground Floor [Owned] |
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Factory 1 : |
First Floor, MIG 936, 1st |
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Tel. No.: |
91-44-22445056 |
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Fax No.: |
91-44-22553831 |
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Area : |
1200 First Floor [Owned] |
SOLE PROPRIETOR
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Name : |
Mr. S. Ravindran |
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Designation : |
Proprietor |
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Address : |
Nelangarai, Chennai, |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Post Graduate |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
The subject is engaged in the business of Interior Decoration and
Furnishing |
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Products : |
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Services Offered : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash and Credit [30 days] |
GENERAL INFORMATION
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Customers : |
Interior Decorators |
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No. of Employees : |
15 [In Office : 8 and In Factory : 7] |
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Bankers : |
Karnataka Bank Raja Annamalaipuram, Chennai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Paramasewaran Chartered Accountants |
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Address : |
Gemini Complex, |
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Tel. No.: |
91-44-28284869 |
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Associates/Subsidiaries : |
SD Decors Address : MIG 936, 1st Activity : Interior Decoration for Residence |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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4.000 |
3.700 |
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Net Profit |
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25 % Total
Turnover |
25 % Total
Turnover |
LOCAL AGENCY FURTHER INFORMATION
Observation Points
Name Board : Sighted Low
Land Mark : Near to the
Office Appearance : Well Furnished
Office Located : Ground Floor
Office Area : Residential Area and Up Market
Trade Reference
- Residential
Area in
- Sun
Television – Network
- Beauty
Parlour in
- Corporate
Office
As Per Website
Profile
Interior decorative items are the unified soul of every
household and commercial building. Thus, everyone emphasizes to provide his/her
interiors a distinctive look so that one can discover a paradise in his/her own
home. If you are looking for a one stop sourcing destination for procuring an
appealing range of interior decoratives, then the search ends at RPS
Creators. The
business house is a prominent exporter and importer engaged
in offering a wide range of products such as office infrastructure,
furniture & fittings, office room accessories, lighting accessories, office
construction equipments, etc. They also offer various services
like infrastructural
building, home/ office construction, interior designing, wood work, etc. Fine workmanship, creativity and
excellent finishing are well reflected in their exquisite products.
They are well supported by a team of highly experienced
professionals to deliver their quality conscious clients with a range of the
best products at the most affordable prices. The company is committed to
deliver the best, thus leaving no room for customer grievances. Their
impeccable quality has helped them to earn the trust of many domestic and
international clients.
Quality
Assurance
Quality products at competitive prices and on-schedule delivery
remain their forte. RPS Creators is governed by sound management ethics at
every stage of its operation to deliver the most exclusive range of products
and services to its clients. Their goodwill in the domestic and international
markets has been formed owing to integrity, reliability, innovation and
customer focus. With major stress being laid on after sales service, they
aim at setting new milestones while maintaining the uniqueness of their
products.
Infrastructure
RPS Creators is backed up by a strong team of pro-active employees
and latest machines to deliver the range of best products and services in the
arena of interior designing. They regularly upgrade their technological
strength as per changing trends so as to assure the production of most advance
products as per emerging requirement.
Hallmarks
- Innovative
designs and styles setting a trend in the market
- Intense
efforts of designers and craftsmen to bring out the best in every item
- Sound
management system facilitating successful execution of all orders
- No
compromises on quality as it represents the image of their company
- Research on
the emerging requirements of the clients and manufacture products
accordingly.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.38 |
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1 |
Rs.80.96 |
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Euro |
1 |
Rs.56.81 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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45 |
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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