MIRA
INFORM REPORT
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Report Date : |
21.09.2007 |
IDENTIFICATION DETAILS
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Name : |
YASOMA EXPORTS |
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Registered Office : |
138,
Ashapurna Nagar, Opp. D.P.S, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers, Exporters, Traders of Wooden Decorative and Furniture
and Articles. |
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 14000 |
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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. Partners are
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 : |
138,
Ashapurna Nagar, Opp. D.P.S, |
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Tel. No.: |
91-291-6532466 |
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Mobile No.: |
919414128408,+919414138037 |
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Fax No.: |
91-291-2255171 |
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E-Mail : |
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Website : |
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Area : |
22x45 sq. fts. |
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Location : |
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Head Office : |
F-372-73, Borananda Industrial Area, |
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Area : |
4500 sq. meters |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Rakesh Saini |
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Designation : |
Partner |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Post Gradate – Forestic Science
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Experience : |
15 Years |
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Name : |
Mr. Sanjay Rana |
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Designation : |
Partner |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Post Gradate – Forestic Science
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Experience : |
15 Years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters, Traders of Wooden Decorative and Furniture
and Articles. |
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Products : |
Wooden Decorative and Furniture and Articles |
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Exports : |
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Products : |
Wooden Decorative |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit upto sight basis |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Around 9 (In Office – 5 and IN Factory – 4) |
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Bankers : |
ICICI Bank, |
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Facilities : |
Credit Limit: Rs. 4.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
PMJ Associates Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 3.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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49.800 |
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Profit/Loss for the year |
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1.320 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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2.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.65 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37 |
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LOCAL AGENCY FURTHER INFORMATION
Trade References :
- Shikhawati
Art Exports,
- Evergreen
International Limited,
As Per Web:
Profile :
Founded in 2002, 'Yasoma Exports' was primarily set up to supply Indian wooden furniture and other handicraft items. They are the manufacturer and exporter of wooden furniture, handcrafted furniture, handicrafts, wooden dining sets, chairs and tables. The company has experienced a tremendous learning curve, thoroughly understanding the use of solid wood, production nuances, packaging, storage, shipping and distribution systems. From the beginning, it was decided that for effective profitability, quality control systems and on-time delivery schedules a vigorous process of backward integration was needed to be undertaken. Today, we have specialized departments that excel in each to supply our products anywhere in the world.
subjects involved in designing products that are in accordance with the
requirements of clients. They unveil scintillating range of products, which
includes:
§
Wooden
Furniture
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Handcrafted
Furniture
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Handicrafts
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Wooden
Dining Sets
§
Chairs
and Tables
Specialty
They have developed our core competence in the manufacturing and export of
wooden furniture. They have climbed the ladder of success in a short span of
time by offering high quality products. Apart from maintaining high quality
standards, stick to on-time schedule deliveries.
Long-term Goals
Their handicrafts have been well appreciated in the global markets for their
exquisite craftsmanship and outstanding quality. With indefatigable efforts and
unswerving determination, they have been able to maintain high standards of
quality in exports and have established long lasting relations with our
clients. They have earned reputation as being a quality producer from
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.39.91 |
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1 |
Rs.79.88 |
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Euro |
1 |
Rs.55.88 |
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 |
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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