MIRA
INFORM REPORT
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Report Date : |
04.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACE CRAFTIQUE |
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Registered Office : |
G- 70, Shastri Nagar, Jodhpur – 342001, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Subject is a Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Export of Handicrafts such as Bar Ascents,
Fire Accessories, Wooden Candle Holders, Gift Items, Wooden Furniture, Animal
Figures, Antique Reproduction Furniture, Wrought Iron Knock and Down
Furniture |
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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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. Trade relations are fair. Business is active. 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 |
INFORMATION PARTED
BY
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Name : |
Mr. Manish Bhati |
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Designation : |
Proprietor |
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Contact No.: |
91-9829024455 / 9829022210 |
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Date : |
04.03.2008 |
LOCATIONS
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Registered Office : |
G- 70, Shastri Nagar, Jodhpur – 342001, Rajasthan |
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Tel. No.: |
91-291-2747910 |
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Fax No.: |
91-291-5120842 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
4500 Sq. Ft. |
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Factory 1 : |
G-586, Barni II Phase, Jodhpur, Rajasthan |
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Area : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Manish Bhati |
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Designation : |
Proprietor |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Handicrafts such as Bar Ascents, Fire Accessories,
Wooden Candle Holders, Gift Items, Wooden Furniture, Animal Figures, Antique
Reproduction Furniture, Wrought Iron Knock and Down Furniture |
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Exports : |
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Products : |
Handicrafts |
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Countries : |
Europe, USA, Dubai, Gulf Countries |
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Terms : |
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Selling : |
L/C, D/A or D/P Terms. |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers And Retailers. |
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No. of Employees : |
45 ( 5 persons in office and 40 persons in branch) |
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Bankers : |
State Bank of India, High Court Marg, Jodhpur, Rajasthan |
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Facilities : |
C/C Limit Rs.2.500 millions P/C Limit Rs.1.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Singhvi And Associates Chartered Accountant |
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Address : |
Jodhpur |
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Associates |
Ř Vrinda Arts, Jodhpur, Rajasthan, India -- Manufacturer of Handicrafts Ř Virtual Creations, Jodhpur, Rajasthan, India -- Manufacturer of Handicrafts |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
N.A. |
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Borrowed : |
N.A. |
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Total : |
N.A. |
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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11.000 |
8.000 |
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Expected Sales (2007-08) : Rs.28.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
Subject is engaged in as Manufacturer of Handicrafts such as Bar Ascents, Fire Accessories, Wooden Candle Holders, Gift Items, Wooden Furniture, Animal Figures, Antique Reproduction Furniture, Wrought Iron Knock and Down Furniture.
Trade Reference
- Bharat Art
and Crafts, Jodhpur
- Tire Imports,
Dubai
- Casa Ambiense
India, Jodhpur
- Newmo, The
Netherlands
Web Details Attached
Subject is a well-known manufacturer and exporter of wooden furniture, ironware, wrought iron furniture, traditional and artistic range of handicrafts, ethnic items, textile etc. The company caters to quality conscious international markets of Europe, USA, UAE & Asia.
Established in 1995, subject is committed to provide top quality products and
endeavors to achieve complete customer satisfaction. It offers latest and
artistic range of products in accordance with the changing market trends.
Infrastructure
The company boasts of a sound infrastructure and is equipped with latest
machines and tools. It is backed by a team of skilled and dedicated work force
that enables it to cater to specific customer requirements. R & D and
design department is managed by trained and experience professionals. It's
manpower is continuously working with utmost perfection to manufacture
fascinating range of best quality products.
Quality
Subject makes no compromise when it comes to quality of products. It lays
special emphasis on the timely delivery of products. Trained professionals
conduct stringent quality checks at every stage of production - right from the
procurement of raw materials to product finishing. That's why be it quality,
design or color combination its products have no match in the market.
Product Range
Ironwares - Shelves, Chairs,fire accents, bath accents,
lantern, table, mirror, lamp, candle holder, planter, pots, curtain rods,
christmas items.
Woodware - Almirah, drawer chest, cabinet,
sideboard, box, table.
Ethnics - Door with frame, carved door with frame, brass fitted TV
cabinet.
Textiles - Bedsheets.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.29 |
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UK Pound |
1 |
Rs.79.98 |
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Euro |
1 |
Rs.61.20 |
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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