MIRA
INFORM REPORT
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Report Date : |
14.09.2007 |
IDENTIFICATION DETAILS
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Name : |
JANSONS CARPET |
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Registered Office : |
A-14, Basement, East Nizamuddin, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1968 |
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Legal Form : |
Sole Proprietory concern. |
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Line of Business : |
Manufacturer and Exporter of discreet range of carpets and shawls. |
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 8000 |
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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 tracks. Proprietor is reported as experienced and respectable
businessmen. Trade relations are 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 : |
A-14, Basement, East Nizamuddin, |
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Tel. No.: |
91-11-24355615 / 24356856 |
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Mobile No: |
91-9810229178 / 9811129095 |
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Fax No.: |
91-11-41825804 |
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E-Mail : |
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Area : |
900 sq.fts |
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Location : |
Owned |
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Factory: |
Khan Mohalla, opposite Ali Masjid, |
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Tel. No.: |
91-194-2421952 |
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Area : |
10000 sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Mohhammad Yasin Jan |
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Designation : |
Proprietor |
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Address : |
A-375, Sarita Vihar, |
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Date of Birth/Age : |
55 Years |
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Qualification : |
Graduate |
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Experience : |
33 Years |
KEY EXECUTIVES
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Name : |
Mr. Mehraj Yasin Jan |
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Designation : |
Chief Executive Officer |
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Address : |
A -375, Sarita Vihar, |
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Date of Birth/Age : |
27 Years |
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Qualification : |
Graduate |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of discreet range of carpets and shawls. |
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Products : |
·
Carpets and Rug ·
Carpets ·
Baluch Carpets, ·
Cotton Carpets ·
Knotted Cotton Silk Carpets, Etnic Cotton Silk
carpets ·
Handmade Carpets ·
Handmade Silk Carpets, Handmade Persian Carpets,
Handmade Silk on Silk Carpets ·
Indian Carpets ·
Indian Knotted Carpets ·
Iranian Carpet ·
Iranian handmade carpets ·
Kilims Rugs ·
Tribal Kilims, Kalianav kilims, Persian kilims ·
Persian carpets ·
Persian Naien Carpets, Persian Tabriez Carpets,
Persian Sheraj Carpets, Silk Carpets ·
Kashmiri Silk Carpets, Embroidered Silk Carpets,
Handmade Silk Carpets, ·
Iranian ·
Woolen Carpets ·
Woolen Kilims, wools on cotton Carpets Others ·
Tribal Carpets ·
Pashmina Silk and ·
Embroidered Shawls ·
Embroidered Woolen Shawls ·
Jamawar Shawls ·
Jamavar Pashimnina Shawla, Fur Jamavar Shawls ·
Kashimiri shawls ·
HAND msade Kashmir Shawla., Hand woven Kashmir
Shawls, Kashmir Jamwar ·
Shawls ·
Pashmina Shawls ·
Ladies Silk Pashmina shawls, Designer Pashmina
Shawls ·
Pashmina Silk Shawls ·
Embroidered Pashmina Silk shawls ·
Shawls ·
Designer Ladies Shawls ·
Silk shawls ·
Party wear Silk Shawls |
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Exports : |
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Countries : |
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Imports : |
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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 40%.
GENERAL INFORMATION
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Suppliers : |
Own Manufacturing ( purchase of raw material from open market) |
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Customers : |
·
Jack White Scarver, ·
Chip Akertige, ·
Embassy of ·
High Commission of |
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No. of Employees : |
100 |
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Bankers : |
Jammu and Kashmir Bank Limited Address: Lajpat Nagar, |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Carpet Export Promotion Council |
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Associates/Subsidiaries : |
Nil |
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 |
31.03.2006 |
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Sales Turnover |
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10.000 |
9.500 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2007-08) : Rs. 12.500 millions.
LOCAL AGENCY FURTHER INFORMATION
WEBSITES DETAILS:
Enthralling carpets
to adorn the floors of your dream home... in silk, wool and cotton...
Carpets are exciting collectables for connoisseurs of handicraft, as
they are not just items to cover the floors with; they are a work of art. They,
at Jansons Carpets strive to provide
the best carpets made with superlative materials to their customers. Established in 1968, their company has
grown from strength to strength. They are now recognized as a premiere manufacturer, exporter, importer and
supplier of a discreet range of carpets like, 100% Silk on Silk Carpets, Silk
on Cotton Carpets, Woolen Cotton Carpets, Tribal Carpets Their Company
imports excellent quality Tribal Carpets from
The demand for carpets has grown over the years with globalization. From the
Indian markets, they have spread their wings further into the international
markets as well. Their carpets are exported to countries like
Carpets are a must have for people who love to have enthralling and
appealing homes. They add a touch of taste and glamour to an ordinary looking
place. Jansons Carpets are a leading manufacturer, exporter, importer and
supplier of a range of carpets including:
·
100%
Silk on Silk Carpets
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Silk on
Cotton Carpets
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Woolen
Cotton Carpets
·
Tribal
Carpets
Quality
Customer
satisfaction has been the primary concern at Jansons Carpets ever since its
inception, and to appease the clients, quality should never be compromised on.
They only supply what they promise to supply. Also only premium grade raw
materials are used for manufacturing the carpets. Cotton, silk and wool, used
in the process are purchased from select suppliers, who have a brand name in
the market. A quality checking team is employed to keep a vigil on the
craftsmen to make sure they produce only the best and of the highest quality.
The knotted carpets are made with strict precision, to get a flawless product.
They understand that spending on carpets is a long term investment, and
therefore give no reason to their clients for any complaints. Jansons Carpets
aims at providing them with more than the value for their money. Quality checks
are under taken even during the dispatch of the products conforming to the
international standards.
Infrastructure
They
are a company in which, the skilled and dexterous craftsmen form the
infrastructure. Jansons Carpets manufactures only hand made carpets which
are fabricated by a little more than a hundred workers employed by them. These
workers are experienced in the art of carpet weaving and have been in this
trade for many a generations. They have an aesthetic sense and therefore give
birth to masterpieces, which are well appreciated by the clients. The 'karigari' or work on the
carpets is exclusive in nature and thus makes them designer items. A team of
experienced professionals keeps track of the market demand. This team keeps abreast
of the latest market trends and updates the workers on the preferences of the
clients.
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.40.50 |
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1 |
Rs.81.72 |
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Euro |
1 |
Rs.56.09 |
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 |
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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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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