MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BUDDHARAM STONE INDUSTRIES |
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Registered Office : |
NH -11, |
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Country : |
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Date of Incorporation : |
2007 (Recently) |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and exporters of Natural Stones, sand stones, Fountain,
Lower Pot, Name Plates, |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
- |
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Comments : |
Subject is a new concern and yet to establish itself. The concern
expects to register a business of Rs. 15.000 millions in the first year of its
operations. No further details could be made available. The concern can be considered for any business dealings on fully sage
and secured trade terms and conditions only |
LOCATIONS
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Registered Office/ Factory : |
NH -11, |
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Tel. No.: |
91-1420-240331 |
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Mobile No.: |
91-9828243573 |
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Fax No.: |
91-1420-240845 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Mintu Ram Saini |
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Designation : |
Proprietor |
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Tel. No.: |
91-1420-249625/25 |
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Date of Birth/Age : |
45 years |
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Qualification : |
Under Graduate |
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Experience : |
26 years |
KEY EXECUTIVES
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Name : |
Mr. Kailash Saini |
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Designation : |
Managing Director |
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Mobile No.: |
91-9414207652 |
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Name : |
Mr. Ram Kishan Saini |
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Designation : |
Key Executive |
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Mobile No.: |
91-9414265950 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of Natural Stones, sand stones, Fountain,
Lower Pot, Name Plates, |
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Products: |
v
Flower Pots v
Fountains v
Fire Place v
Furniture v
Jalies v
Column v
Natural Articles v
Statue v
Animals v
Panels v
Washbasin v
Railings v
Accessories |
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Exports : |
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Products : |
Decorative Marbles |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash or Credit |
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Purchasing : |
L/C, Cash or Credit, Sight |
PRODUCTION STATUS
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Products |
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Actual
Production |
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Decorative Marbles |
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As per Demand |
GENERAL INFORMATION
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Customers : |
v
Local Customers v
End Users |
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No. of Employees : |
166 (Staff: 16; Factory: 150) |
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Bankers : |
Bank of Rajasthan Daosa, |
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Facilities : |
Credit Limit – Rs. 1.000 million |
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Banking
Relations : |
- |
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Auditors : |
Not Appointed |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 5.000 millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
Expected Sales (2007-08): Rs. 15.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v Swami International USA
v Sahil Al Ghubra – Uman
Website details attached:
Subject has built a reputation for Manufacture, Exporter and Supplier of Indian Sand Stone Handicraft. It provides clients with dimensional stone expertise. Strong relationships with factories and quarries in the abroad, allow us to offer a wide range of resources.
There are available in different colors and designs, textures and patterns. The variety of finishes includes natural craft, calibrated, polished, bush hammered, sand blasted, flamed, tumbled and a number of others. They have the capability of presenting innovative designs and also of manufacturing according to customers' specifications. This enables us to cater better to the diversified preferences of their buyers from varied nations.
Philosophy
The true assets of any organization are its people. They have a team of dedicated and skilled workers. Their organizational culture encourages the quest for excellence and a progressive and futuristic attitude.
Infrastructure
They have exclusive quarries of sandstone.
These quarries are associated with their state-of-the-art calibration and polishing plant and their gang saw units. They have stone-cutting plants. Their calibration plant utilizes Italian Technology, which is capable of producing items to meet the high precision requirements of any project.
Customer Satisfaction
Quality and
customer service are their foremost concerns. They employ the most efficient
and modern machinery to process the stones. They follow rigid quality control
procedures, from the quarrying stage to the packing stage. Moreover, they offer
their services of quality control and inspection to their buyers, for goods
exported by other factories in
They look forward to the opportunity to furnish the specific requirements.
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 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. 40.96 |
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1 |
Rs. 82.55 |
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Euro |
1 |
Rs. 55.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
1 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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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 |
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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9 |
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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