MIRA
INFORM REPORT
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Report Date : |
03.09.2007 |
IDENTIFICATION
DETAILS
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Name : |
D RAJ INTERNATIONAL |
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Registered Office : |
1911 / 143, Ganesh Pura, Tri Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1983 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Supplier and Exporter of Tassels, Tiebacks, Wall Hangings,
Stockings, decorative pillows and various other kinds of Handicrafts and Xmas
Gift. |
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 32000 |
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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
terms and conditions. |
LOCATIONS
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Registered Office : |
1911 / 143, Ganesh Pura, Tri Nagar, |
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Tel. No.: |
91-11-27384950 |
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Mobile No.: |
91-9811023573 |
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Fax No.: |
91-11-27384474 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. fts. |
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Location : |
Owned |
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Factory 1 : |
O -42, Sector -1, Bawana Industrial Area, |
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Area : |
130 sq. mts. (3 floors) |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vinod Kumar Gupta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
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Experience : |
27 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Supplier and Exporter of Tassels, Tiebacks, Wall Hangings,
Stockings, decorative pillows and various other kinds of Handicrafts and Xmas
Gift. |
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Products : |
Ø Tassels and
Tiebacks Ø Cotton, Rayon,
Jute, Art Silk, Zari, Beaded etc. Ø Xmas decorations
and accessories Ø Tree skirts,
Wall Hangings, Stockings etc. Ø Decorative
pillows, Tie knots, Valance etc. (All as per customized sizes / designs) Ø Table linen,
Kitchen Linen, Place Mats, Coasters, Napkin Rings. Home Furnishing Ø Tassels Ø Lace
Handicrafts
Christmas Decoratives
Incense & Dhoop Ø Incense Ø Dhoop |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash/Credit |
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Purchasing : |
Cash/Credit |
PRODUCTION STATUS
Capacity to increase production by: 35%
GENERAL
INFORMATION
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Suppliers : |
Owned Manufacturing (Purchase of raw material from open market) |
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Customers : |
Ø M G Ø Wool |
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No. of Employees : |
12 (Permanent), 75 (Job Worker) |
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Bankers : |
Canara Bank, Diplocatic Enclave, Malcha Marg, |
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Facilities : |
1.500 millions |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Ø AEPC Ø TEXPROCIL Ø EPCH |
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Associates/Subsidiaries : |
Ø Sarovin
Collection Sales Turn Over: 3.500 Millions Ø Bal Sundri
Norfeb Sales Turn Over: 3.000 Millions |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 8.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 8.000 millions |
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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30.000 |
28.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008) : Rs.40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Company Profile
A renowned name in manufacturing exportable decorative
accessories, exporting since 1983, with state of art in house manufacturing set
up, currently exporting to
They always look forward to serve more customers due to their increasing production capacities.
Kindly give them a chance to serve you with latest designs / diversity as they are highly competitive since most of manufacturing processes are done in house.
Their Focus Products are Tassels and Tie Backs- cotton, rayon, jute, art silk, zari, beaded etc., xmas decorations and accessories like tree skirts, wall hangings, stockings etc, decorative pillows, window coverings- tab top, rod pocket, tie knot. Valance etc-all as per customized sizes/designs, macarame belts, placemats, coasters, napkin rings and a lot of fancy new products with intricate exquisite workmanships, unique in product range -- all products are made with the help of professional international designers and are well hand- crafted/ made as per international standards from production point of view.
Sky is the limit for product developments with them and they make what really can be produced in bulk.
BUSINESS TERMS
- DELIVERIES - Negotiable as per customer requirements - 40 to 120 days depending on Product/Order Qty/Production process involved. But their commitments are more than a branded lock - once made will be met at all costs.
- PAYMENTS - Negotiable - All documents consigned to order of bank.
- SAMPLING DEVELOPMENTS - Done as per buyer requirements well within stipulated time - in case it is costing more, they might request buyer for payment. They maintain exclusively of designs.
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.40.88 |
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1 |
Rs.82.58 |
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Euro |
1 |
Rs.55.79 |
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 |
YES |
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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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