MIRA
INFORM REPORT
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Report Date : |
08.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
CLASSIC MARBLE |
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Registered Office : |
15, Bhandup Village Road, Next to Ceat Tyres, Subhash Nagar, Bhandup
[West], Mumbai – 400078, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.07.1994 |
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IEC No.: |
0394030478 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Trader of Marble, Granite, Slabs and Tiles |
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. Rushin Mehta |
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Designation : |
Manager |
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Contact No.: |
91-9867022560 |
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Date : |
06.03.2008 |
LOCATIONS
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Registered Office : |
15, Bhandup Village Road, Next to Ceat Tyres, Subhash Nagar, Bhandup
[West], Mumbai – 400078, Maharashtra, India |
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Tel. No.: |
91-22-25666614 / 25666615 |
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Mobile No.: |
91-9867022560 |
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Fax No.: |
91-22-25666613 |
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E-Mail : |
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Website : |
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Area : |
100000 sq. ft. [Owned] |
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Factory : |
S. No.
269/1/1/1/1/2, Village Athal, P.O. Silvassa – 396230, U.T. of Dadra &
Nagar Haveli |
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Tel. No.: |
91-260-650092/93 |
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Fax No.: |
91-260-650091 |
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Area : |
Owned |
PARTNERS
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Name : |
Mr. Subodh Shah |
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Designation : |
Partner |
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Address : |
18/7, Sankalp Building, Walkeshwar Road, Mumbai – 400007, Maharashtra,
India |
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Date of Birth/Age : |
34 Years |
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Experience : |
11 Years |
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Name : |
Mr. Mafatlal P. Shah |
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Designation : |
Partner |
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Address : |
18/7, Sankalp Building, Walkeshwar Road, Mumbai – 400007, Maharashtra,
India |
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Date of Birth/Age : |
61 Years |
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Experience : |
35 Years |
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Name : |
Mr. K. M. Swamy |
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Designation : |
Partner |
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Address : |
601, Poonam Vihar B, Mahakali Caves Road, Andheri, Mumbai – 400070,
Maharashtra, India |
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Date of Birth/Age : |
45 Years |
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Experience : |
20 Years |
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Name : |
Mr. Jayesh P. Shah |
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Designation : |
Partner |
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Address : |
Ashok Samrat Building, 4th Floor, Walkeshwar, Mumbai –
400007, Maharashtra, India |
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Date of Birth/Age : |
45 Years |
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Experience : |
15 Years |
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Name : |
Mr. Amit M. Shah |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Marble, Granite, Slabs and Tiles |
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Brand Names : |
“CLASSIC” |
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Imports : |
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Products : |
Marble Bleak and Marble Slabs |
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Countries : |
Spain, Turkey, France, Italy, Iran and Sri Lanka |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
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Marble Slabs / Tiles |
3,00,000 sq. ft. |
GENERAL
INFORMATION
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Customers : |
End Users and Retailers v Bayer ABS Limited, Baroda, Gujarat, India v Enjay Hotels, Mumbai, Maharashtra, India v Jindal Strips Limited, Mumbai, Maharashtra, India v K. Raheja Builders, Mumbai, Maharashtra, India v Hotel Orchid, Pune, Maharashtra, India v Marine Plaza, Mumbai, Maharashtra, India v Reliance Group, Mumbai, Maharashtra, India v Indian Hotels Limited v Hiranandani Constructions |
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No. of Employees : |
225 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Ř Marmo Classic, Sr. No. 289/1/1/1/2, Village Athal, Silvasa, India -- Manufacturing and Trading in Marble Slabs / Tiles. Ř Classic Laneesh, 15 Bhandup Village Road, Subhash Nagar, Mumbai- 400078, Maharashtra, India -- Trading in Laminated Wooden |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
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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500.000 |
400.000 |
Expected Sales (2007-08) : Rs.700.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
The concern has a huge stockyard and a marble cutting, curing and
polishing facilities supported by imported machinery, crack filling resins, polish,
etc.
Subject purchases its requirements 100 % from international market
against CAD [30/60 days] terms.
AS PER WEBSITE
Profile
Subject
was conceptualised. In just 10 years the Marble industry began to take notice.
As the sales & operations grew from every year, from a small yard of 1000
sq. ft holding 10000-15000 sq. ft of marble in 1994, the company now boasts of
a massive stockyard of 60,000 sq. ft. area with a capacity to stock 800000
–1,000000 sq. ft. at any given point of time. The stocking capacity has
multiplied tenfold. The company’s fierce commitment to quality and customer
satisfaction has to bourne fruit.
Management
Classic Marble was promoted by Subodh Shah, Amit Shah, and
K. M Swami.
Subodh P. Shah
Subodh
Shah is a graduate in Computer Science from New York, U.S.A. His portfolios at
Classic Marble includes, Day-to-day operations, Sales & Marketing &
HRD. Some of his attributes which have helped him contribute to the success of
Classic Marble are Excellent Managerial Skills, Negotiation skills, Advertising
Profession etc.
Subodh has a passion for growth and now intends to diversify his base &
extend the line of business.
Amit M. Shah
Amit is
a Commerce graduate and is the Managing Partner of Classic Marble. He has been
associated with Classic Marble since its inception and he is acknowledged as an
expert in assessing the quality. Amit is known for his marketing skills &
technical knowledge on finer aspects of marble trade.
He is also the man responsible for Classic Marble having been ranked as amongst
the top 3 importers in India in the trade. His key profiles are purchase &
corporate sales.
K.M. Swamy
He is a
Science graduate and is the Managing Partner. He has been associated with
Marble for over 25 years. Mr. Swamy is responsible for Classic Marble’s success
At
Classic Marble, it all began with personal experience. Back in 1994, as
customers, partners the proprietors decided they would have nothing less than
Italian Marble for clients home. What was on offer locally left a lot to be
desired. In order to ensure authenticity of marble, explore new designs and
even cut costs, they visited Italy personally. And then for the first time they
realized the potential the industry holds.
There
and then, Classic Marble was conceptualised. Within 10 years the Marble
industry began to take notice. As the sales & operations grew from every
year, from a small yard of 1000 sq. ft holding 10000-15000 sq. ft of marble in
1994, the company now boasts of a massive stockyard of 60,000 sq. ft. area with
a capacity to stock 800000 –1,000000 sq. ft. at any given point of time. The
stocking capacity has multiplied tenfold. The company’s fierce commitment to
quality and customer satisfaction has to bear fruit.
Identified With the Needs of
Every of Client
In a highly competitive international market, they try to gain their clients
confidence by offering the highest technical and human standards. The
organisation is responsible for functions and the degree of involvement of
their team in all the different companies are the best guarantee to satisfy any
need and ensure an improvement in the quality of the management as well as in
the delivery schedule.
Dynamic and Fluid Communication
In the
market, having a good product is not enough. It is also relevant to carry out a
dynamic and efficient distribution. Therefore, the plants and explotations of
Classic Marble are located in well communicated areas and national and
international transport network for distribution makes the rest. Efficient and
quick supply to any part of the country.
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.40.53 |
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UK Pound |
1 |
Rs.81.54 |
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Euro |
1 |
Rs.62.40 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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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
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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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