MIRA
INFORM REPORT
|
Report Date : |
25.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NEW BHAGWAT
MARBLE |
|
|
|
|
Registered Office : |
A-1/28, W. H. S.,
Marble Market, New Delhi – 110015 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
IEC No.: |
0595025307 dt.
20.12.1995 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
07740261286 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACPT9584A |
|
|
|
|
Legal Form : |
Sole Proprietory
Concern |
|
|
|
|
Line of Business : |
Exporter and
Supplier of Marbles. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 60000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established concern having satisfactory track. Trade relations are fair.
Payments are reported as usually correct and as per commitments. The concern
can be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
A-1/28, W. H. S.,
Marble Market, New Delhi – 110015 |
|
Tel. No.: |
91-11-41422179/25163497 |
|
Fax No.: |
91-11-41422179 |
|
E-Mail : |
|
|
Area : |
450 sq. mtrs.
Approx. (Owned) |
|
Location : |
Commercial |
|
|
|
|
Factory 1 : |
Kishangarh, Rajasthan, India |
|
Area : |
4000 Sq. mtrs. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Partap Singh
Thakur |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
44 years |
KEY EXECUTIVES
|
Name : |
Mr Sanjay Thakur |
|
Designation : |
Chief Executive |
|
Date of
Birth/Age : |
30 years |
|
Mobile No. : |
91-9873178713 /
9999011279 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Supplier of Marbles. |
|
|
|
|
Products : |
Ø
Marbles Ø
Trading Ø
Articles |
|
|
|
|
Exports to : |
Mauritius, Taiwan, Gulf nations, Australia & USA.[Local
Trading] |
|
|
|
|
Imports from : |
Ø
China Ø
Turkey Ø
Iran |
|
|
|
|
Terms : |
|
|
Selling : |
On TT and LC at sight basis |
|
|
|
|
Purchasing : |
On L/C and DP basis |
GENERAL
INFORMATION
|
No. of Employees : |
15 |
|
|
|
|
Bankers : |
Ø State Bank of Patiala
Shiv Nagar, New Delhi, India Current A/c No.
65001371380 Ø
State Bank
of India |
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Gupta &
Company Chartered
Accountants |
|
|
|
|
Membership : |
Ø
Export Promotion Council |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 15.000 Millions [Approximately] |
|
Borrowed : |
-- |
|
Total : |
Rs. 15.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
90.000 |
60.000 |
13.000 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
NA |
0.968 |
0.715 |
|
Provision for
Taxation |
NA |
0.180 |
0.084 |
|
Profit/(Loss)
After Tax |
NA |
0.788 |
0.631 |
|
|
|
|
|
|
Export Value |
NA |
12.000 |
9.360 |
|
|
|
|
|
|
Import Value |
NA |
3.000 |
2.600 |
Expected Sales (2007-08) : Approximately Rs. 120.000 Millions
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
5.25
|
4.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.45
|
5.50 |
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
|
26.25
|
23.35 |
LOCAL AGENCY
FURTHER INFORMATION
History
The subject is a manufacturer and exporter of all types of marbles. The subject is also sourcing agents for identifying and supplying marbles from China and Turkey.
The subject is exporting marbles to Europe, USA and Middle East on the selling terms of TT & LC at sight basis. Mr. Partap Singh Thakur, age: 53 years, Proprietor is having around 30 years experience.
Mr Sanjay Thakur, Age: 28 Years, Brother Mr Partap Singh Thakur is looking after marketing and exports activities and he is having around 6 years experience in the marble industry.
The Inquired Address is the subject’s office-cum-show room address. The subject’s office-cum-show room is situated at the whole sale market of Marbles, Tiles and the surroundings are wholesalers of tiles & marbles etc., The subject was originally established in 1964 and changed in the name of New Bhagwat Marble in 1995.
Marble is the pride of India, with practically inexhaustible deposits of over 1200 million tons, with splendid varieties of white, green, black, grey, pink, and yellow. The quality in terms of its physical and mechanical properties complies with all international standards. India also ranks among the top 5 countries in marble exports.
The country boasts of about 1,100 modern gangsaw units and 50 automatic tilting plants. More than 5000 trading companies of marble are operational, employing about 0.3 million people. The industry is well equipped with fast developing modern mechanised quarries. Over 300 quarries are currently using diamond wiresaw & chainsaw cutter quarrying technology.
Size of the Industry
The marble industry in India is a vibrant industry with a total investment of over Rs. 40,000 million or US$ 1,000 Million and covers about 4000 mines. The size of this industry is estimated at around Rs. 1,600 million. The marble slab and tile production is approximately equal to 1300 million-sq. ft. per annum.
Marble Export
There had been an increase of over 300% from US$ 9 million in 1992-93 to US$ 27 million in 1996-97. The export mainly consists of the much fascinating varieties of Green, Onyx, White, Indo-Italian, Super White and Pink marble. High quality polished marble tiles & slabs and green, black & white marble blocks correspond to the demand in the foreign market. There is also a high export demand for marble handicrafts.
The major export markets for Indian marble are USA, Canada, Japan, Singapore, Middle-East and EC countries.
Major Marble Centres
in India
Marble reserves in India are estimated at 1200 million tons with Rajasthan accounting for 91% of the reserves (with more than 1100 million tons). Rajasthan accounts for 95 % of the marble production in India. Splendid varieties of marble are spread all over Rajasthan, mainly in the districts of Nagaur, Udaipur, Rajsamand, Banswara, Dungarpur, Jaipur, Sirohi, Bhilwara, Ajmer, Bundi, Alwar and Pali. There are about 3658 marble mining leases with a production of 3.44 million tons in 1997-98. There are 1,100 marble processing units and 50 automatic tiling plants employing about 3,00,000 people in Rajasthan. Rajasthan has a marble slab processing capacity of 1,000 million sq.ft. per annum and marble tiling capacity of 300 million sq. ft. per annum
The subject is also supplying marbles to construction companies and
retail selling.
The subject is supplying and exporting the following products :
§ Fossil Slate Stone
§ Sand Stone
§ Slates Stone
§ Sand Stone Pillar
§ Stone Pillar
§ Imperial White Granite
§ New Imperial Red Granite
§ Imported Marble Work
§ Makarana Marble Lioness
§ Makarana Marble Wash Basin
§ Marble Tiles
§ Green marble
§ White marble
§ Indo-marble
§ Italian marble
§ C pink marble
§ Sand stone
§ White/Red Slates (all other colors)
§ All Granites
§ Marble Crafts
As Per Website :
About Them
Established in 1986, New
Bhagwat Marble is a renowned exporter of high quality marbles stone,
Indian marble crafts, decorative marble crafts & granite stones. Since the
day of existence they have been catering the needs of stone industry by
providing high quality marbles as per the demand. They supply almost all types
of marbles, in almost all colours. They are committed to delivering flawless
products suited to the needs and requirements of their clients.
Some other information about their company:
§ Capital in Rupees - 20 Lakhs
§ Export Percentage - 80%
§ Import Percentage - 20%
§ Sales Volume - 1 Crore
§ No. of Staff -10
§ No. of Production Lines - 3
§ Investment on Manufacturing Equipment - 5 Lakhs
§ No. of Designer(s) - 2
§ Monthly Production Capacity - As per requirement
§ Memberships: EPC - Delhi, Lucknow
Wide Selection of
Products
They
import, export & supply diverse varieties of marbles, Indian marbles
crafts, in a multitude of colours and patterns. Inspite of this, they are also
in the manufacturing and exporter of beautiful and antique layouts of marble,
stone and slate. They provide their customers pure and excellent quality marbles
and granites. The range includes:
§
Green
marble
§
White
marble
§
Indo-marble
§
Italian
marble
§
C
pink marble
§
Sand
stone
§
White/Red
Slates (all other colors)
§
All
Granites
§
Marble
Crafts
Superior Quality, Buyer’s Choice
With a
diverse variety of colours & characterized by the sharp cutting &
finishing, their marbles and granites are on par with the highest quality
standards in the industry. The marbles and granites supplied by them are of
supreme quality and tangible evidences of their credibility and vast resource
structure.
They deal only in those products that are literally manufactured with the help
of state-of-the-art manufacturing facilities, latest technologies and also that
are excellent in quality and have emerged from virgin quarries & crack free
Zones. This is the case with all their products Its is this commitment to
quality that has made their products the most preferred among buyers of natural
stones.
Organizational
Strategy
They at
New Bhagwat Marble thoroughly believe in delivering international quality
products with no flaws to their valuable clients. Their attitude to provide
better than the best, in fact more than the customers' expectations, has helped
them to stand pat in front of their strong competitors.
Internationally accredited technologies, excellent quality & Customer
convenience are the three terms that define are company.
Sourcing Expertise,
Enhanced Capabilities
They
source their products from reputed manufacturers with state-of-the-art mining
& manufacturing facilities. Their long experience in the industry has
helped them to identify the best sources of natural stones in India & to
develop strong working relationships with them.
Expanding Operations
With
excellence and achievement have come recognition & admiration. Their
products have been admired by their customers over the years. Today, their
network of customers extends worldwide and they regularly cater to clients in
countries such as Mauritius, Taiwan, Gulf nations, Australia & USA.
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 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.43 |
|
UK Pound |
1 |
Rs. 77.06 |
|
Euro |
1 |
Rs. 57.65 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
54 |
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 |
|