MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
N Y IMPORTS EXPORTS |
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Registered Office : |
Navjivan Commercial Premises, Co-operative Society Limited, Building
No. 3, Office No. 10, 1st Floor, Lamington Road, Mumbai – 400008,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter and Job Work of Handcrafted Wooden Boxes, Wooden Desktop
Items, Wooden Games, Photo Frames and Mirror Frames, Handcrafted Wooden
Idols. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2800 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern. Proprietor is reported as
experienced and respectable businessman. Trade relations are reported as fair.
Payments are reported as slow but correct. The concern can be cdonsidered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Navjivan Commercial Premises, Co-operative Society Limited, Building
No. 3, Office No. 10, 1st Floor, Lamington Road, Mumbai – 400008,
Maharashtra, India |
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Tel. No.: |
91-22-23005630 |
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Mobile No.: |
91-9867024019 |
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Fax No.: |
91-22-23092374 |
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E-Mail : |
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Area : |
220 sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Anahita Mody |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name : |
Mr. N. H. Mody |
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Designation : |
Authorised Signatory (CEO) |
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Date of Birth/Age : |
44 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Exporter and Job Work of Handcrafted Wooden Boxes, Wooden Desktop
Items, Wooden Games, Photo Frames and Mirror Frames, Handcrafted Wooden
Idols. |
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Products : |
Handcrafted
Wooden Boxes ·
Jewellery Box
with brass inlay/overlay or carved ·
Box for Incense
Sticks
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Wooden Chest
with round tops in various shapes, sizes and finish ·
Wooden Set of
3,4,5 boxes with brass overlays - cremation boxes ·
Plain
Polished wooden boxes and book shaped boxes Wooden Desktop
Items ·
Pencil Boxes ·
Business Card Holders ·
Pen Jars (Single and multi column) ·
Letter racks of various shapes, sizes and designs. ·
Desk Utility Boxes ·
Coaster Sets Wooden Games ·
Domino Sets ·
Dice with Box ·
Playing Card Boxes for 1,2 and 3 packs in a variety
of finishes ·
Combination boxes of dominos + dice + cards ·
Folding chests sets and Back Gammon ·
Naughts and Crosses and Solitaire Photo Frames and
Mirror Frames ·
Mangowood Photo Frames and Mirror ·
Rustic Finish Photo Frames and Mirror Handcrafted Wooden
Idols ·
Buddha ·
Various animals figures of owls, elephants, camels,
tortoise, dolphins |
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Exports : |
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Products : |
All Products (100%) |
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Countries : |
·
Europe ·
Australia ·
U.K. |
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Terms : |
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Selling : |
Credit (90 days), COD |
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Purchasing : |
Csh and Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Master Distributors |
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No. of Employees : |
3 |
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Bankers : |
ABN Amro Bank, Fort Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A M Khatiwala Chartered Accountants |
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Address : |
Grant Road, Mumbai |
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Memberships : |
Export Promotion Council of Handicraft |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.700 Million |
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Borrowed : |
- |
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Total : |
Rs.0.700 Million |
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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3.000 |
2.800 |
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Expected Sales (2007-08) : Rs.3.500 Millions
LOCAL AGENCY FURTHER
INFORMATION
NOTE : The Concern get its (work) done from small
villages in Delhi and then exports the same . It has a
tie – up with hand – crafters in Delhi.
Trade Reference:
·
Heritage India Imports, Australia
Website details:
Subject is renowned name in the
industry of handicraft
items as a prominent manufacturer and merchant exporter. The products in
which they deal includes handcrafted wooden boxes, wooden desktop items, wooden games and photo
frames and mirror frames. In 1996, they entered into the handicraft
business with an idea to be a part of this creative industry and become a
indistinguishable part of their customer's daily life. Today, their
concern has made a name for itself in the industry in terms of quality and
reliability.
Quality
They put special emphasis on the quality of their products. They use the best
quality of wood and at every phase of production each piece is inspected
under the close supervision of experts.
Designs
Their range of wooden
boxes, wooden desktop items, wooden games and photo frames and mirror frames
are known for their innovative designs and patterns. Skilled craftsman use
their imagination at the highest level and constantly develop new designs.
Key Features
The special characteristics of their concern and products can be highlighted in
the following points:
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Sound infrastructure
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Creative craftsman
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Hard working labors
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Superior quality raw material
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Innovative designs
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Affordable rates
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Timely delivery
Business Network
With hundred percent concentration in export market, they have regular business
with markets of Europe and Australia.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.45 |
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UK Pound |
1 |
Rs.78.14 |
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Euro |
1 |
Rs.58.04 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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30 |
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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