MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
JUGAL TRADERS |
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Registered Office : |
H – 81, Sector 63, Noida – 201301, Uttar Pradesh |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter of Handicrafts, Fashion Accessories, Costume Jewellery and
Beeds etc |
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 10000 |
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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 : |
H – 81, Sector 63, Noida – 201301, |
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Tel. No.: |
91-120-4313251 / 4233301-10 |
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Mobile No.: |
91-9818459299 |
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Fax No.: |
91-120-4313252 |
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E-Mail : |
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Website : |
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Area : |
130 sq. mtrs. [Owned] |
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Showroom : |
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Branch Office : |
5, |
SOLE PROPRIETOR
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Name : |
Mr. Rajat Garg |
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Designation : |
Proprietor |
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Mobile No.: |
91-9818431220 / 9911158104 |
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Date of Birth/Age : |
24 Years |
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Qualification : |
Graduate |
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Experience : |
3 Years |
BUSINESS DETAILS
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Line of Business : |
Exporter of Handicrafts, Fashion Accessories, Costume Jewellery and
Beeds etc |
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Products : |
v
Fashion Jewellery -
Necklaces: Metal Necklace, Fabric
Necklace, Glass Necklace, Resin Necklace, Bone Necklace, Horn Necklace, -
Bracelets -
Bangles: Metal Bangle, Wooden Bangle,
Bone Bangle, Horn Bangle, Resin Bangle -
Cuffs -
Earrings v
Fashion Accessories v
Beads: Glass Bead,
Horn Bead, Bone Bead, Resin Bead, etc. v
Beaded Bags v
Promotional Articles:
Key Rings, Phone Charm, Bag Charm, etc. |
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Exports : |
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Products : |
Handicrafts, Fashion Accessories and Costume Jewellery etc. |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash, Credit [60 days] and at Sight |
GENERAL INFORMATION
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Customers : |
Local Customers and End Users |
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No. of Employees : |
20 |
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Bankers : |
Standard Chartered Bank Limited, |
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Banking
Relations : |
Satisfactory |
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Memberships : |
EPCH and ITPO |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
79.500 |
89.700 |
68.400 |
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Profit/Loss for the year |
2.850 |
0.650 |
2.350 |
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Export |
100 % |
65 % |
68 % |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Housner
Design – Humberg [
- Kay Mart –
- Walmart
As Per Website
Profile
Subject has excelled
in its sphere of operation owing to its trendiest collection of fashion
jewellery and fashion accessories, all offered at the best
prices in the market. They are a trustworthy manufacturer and exporter
of a wide range of Necklaces, Bracelets, Bangles, Cuffs, Earrings, Beads,
Beaded Bags, and Promotional Articles. Renowned for its
excellence in quality, designs, and variety, the company has carved a niche in
the national and international market. They have anchored themselves employing
improved technology to keep abreast of the changes in the contemporary market.
Each and every item of Jugal is bound to leave an everlasting
impact on the mind of the buyer. Their exclusive range of fashion jewellery and
fashion accessories exhibit fine craftsmanship and they are able to garner the
trust and support of a large number of customers spread across the globe.
Competitive prices and timely delivery of products have been their essence
since their inception. They export their products to many of the regions of the
world including
Quality
Quality is the basic mantra at Jugal Traders. Their quality
conscious team ensures that each of their products are high on the parameters
of quality. They follow national and international standards to maintain the
superior quality of their products. For this very purpose, they carry out stringent
checks on each of their products. Their team of quality inspectors keesp a
strict vigil on each stage of production covering all aspects of product
development ranging from procurement of raw materials to delivery, thus
guaranteeing flawless output.
Infrastructure
Empowered by a comprehensive and state of the art infrastructure,
Jugal Traders is boosted to cater to any demand of the market at ease. They are
outfitted with all the necessary equipments to manufacture their line of
products. Their strong business network has given them a competitive edge in
adhering to strict timely delivery schedules irrespective of the location. They
procure quality raw materials directly from reliable sources so that only
quality products are manufactured. The entire gamut of activities from
designing to final shipment is conducted under the guidance of experts.
Hallmark
Few of the factors, which gives them a competitive edge over
other market players are as follows:
- Innovative designs and style setting a
trend in the market
- Fine workmanship, creativity and
excellent finishing reflected in their exquisite products
- Continual improvements in the quality
of their line of products
- Quality packaging that ensure safety of
products during transit and delivery
- Welcome of feedback or suggestions from
clients in order to serve them better
- Sound business practices and customer
centric approach
- Successful execution of small as well
as bulk orders
- Affordable prices and timely delivery,
leaving no room for customer grievances.
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.39.75 |
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1 |
Rs.80.33 |
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Euro |
1 |
Rs.56.24 |
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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