MIRA
INFORM REPORT
|
Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RUDRAKSH DIE WORKS |
|
|
|
|
Registered Office : |
Unit No. 18/A, Dhanlaxmi Industrial Estate, Navghar, Vasai East, Vasai – 401 210, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of all types of Embossing and Cutting Dies for Jewellery |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small and unknown concern. It has not made much progress,
over the period. Trade relations are
fair. Payments are usually correct and
as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Mangesh Bhoir |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9860066288 / 9860156750 |
|
Date : |
21.08.2008 |
LOCATIONS
|
Registered Office / Factory : |
Unit No. 18/A, Dhanlaxmi Industrial Estate, Navghar, Vasai East, Vasai – 401 210, Maharashtra, India |
|
Tel. No.: |
91-250-3204773 |
|
E-Mail : |
|
|
Area : |
550 Sq.fts |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Mangesh Bhoir |
|
Designation : |
Proprietor |
|
Age : |
29 years |
|
Qualification : |
SSC |
|
Experience : |
10 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of all types of Embossing and Cutting Dies for Jewellery |
|
|
|
|
Products : |
·
Tooling and Dies for Chain Making Machine ·
Hollow Tube Forming and Blending Machinery ·
Stamping Dies
·
Jewellery Dies |
|
|
|
|
Exports : |
|
|
Products : |
Dies |
|
Countries : |
France |
|
|
|
|
Imports : |
|
|
Products : |
Sample and Machinery |
|
Countries : |
France |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30-90 days), T/T |
|
|
|
|
Purchasing : |
Credit (30-60) |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, End Users , and Traders |
|
|
|
|
No. of Employees : |
4 |
|
|
|
|
Bankers : |
Axis Bank, Virar Branch, District Thane, Maharashtra, India |
|
|
|
|
Facilities : |
The concern do not enjoy facility from it’s banker |
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashitosh Vidvan Chartered Accountants |
|
Address : |
Virar, District Thane,
Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.000 million |
|
Borrowed : |
--- |
|
Total : |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
|
|
|
|
|
Sales Turnover |
|
|
0.500 |
Expected Sales (2008-09): Rs. 0.500 million
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
Concern Profile:-
They are
professionally managed group with a decade of experience, combining quality and
innovation to cater to the demands of their customer. The concern was founded in the year 1997 with a modest beginning. But their aptitude
for innovation and committed attitude towards customers soon turned it into one
of the most influential companies in its arena. Today, they are a highly
reputed manufacturer and exporter
engaged in the design and development of All Types of Embossing and
Cutting Dies for Jewellery. The product
portfolio includes Tooling and Dies for Chain Making Machine, Hollow
Tube Forming and Blending Machinery, Stamping Dies, Jewellery Dies, and many more allied equipments. In addition,
their company also specializes in the production of Chain and Bangle
Dies and a range of customized products
as per the specific requirements of their customers.
At the concern,
their aim is to excel in the industry through innovation and stringent quality
control to achieve complete customer satisfaction. They lay utmost importance
upon manufacturing products which comply with world class standards. Backed by
a robust infrastructural base and a highly skilled workforce, they always
strive for continuous improvement in every area of their operation. As a result
of such passion and crave for perfection, their products have been acclaimed
all over the world.
Product Range
Globally renowned
for its technical excellence and unique quality products, the concern is a
highly reliable manufacturer and exporter of All Types of Embossing and
Cutting Dies for Jewellery. Their
product range includes the following :-
·
Tooling and Dies for Chain Making Machine
·
Hollow Tube Forming and Blending Machinery
·
Stamping Dies
·
Jewellery Dies
They specialize in Chain
and Bangle Dies and also have the
capability to manufacture variety of customized products as per the design and
specifications of their clients.
Quality
The focal point of their
quality control policy has always been the same- their customers. At the concern,
they are of the belief that quality is the touchstone of commercial success and
complete customer satisfaction as well. It is why they are extremely concerned
about the quality of the products they manufacture at their factory. Their
experts supervise all the manufacturing processes at every stage to ensure that
the finished products comply with international quality standard. With a better
understanding of customer requirements and the demands of the market, they
crave for finding out the optimal and most cost effective solution so that
their valued customers can grab the premium quality products keeping their
budget low. Thus, they have created a culture of total quality to set their
selves apart in the highly competitive industry.
Infrastructure
At the concern, their goal is continual development of their processes and
their products and services. In his mission, they are backed by a world class
infrastructure which facilitates us with every opportunity for stability,
growth and success. The manufacturing unit of their company is highly advanced
and well equipped. There is a range of sophisticated machinery such as CNC EDM
medium wire cut machine, spark erosion machine, surface grinding machine,
drilling machines, etc. In addition, their captive factory also has in-house
facilities for quality control and R and D. A highly efficient and experienced
team of professionals looks after all these operations and thus cater to the
needs with the most advanced products and excellent services in the industry.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.38 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|