MIRA
INFORM REPORT
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Report Date : |
28.03.2008 |
IDENTIFICATION DETAILS
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Name : |
FORTUNE
ENTERPRISES |
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Registered Office : |
A-20, Guru Nank
Pura Lane – 3, Laxmi Nagar, New Delhi – 110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1988-89 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELF03254G |
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PAN No.: [Permanent
Account No.] |
AABFF6201F |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturer and
Exporter of Note Books, Paper Products, Stationery, A4 Copier Paper, Diaries,
Folders, Planners, Note Pads, Office Paper, School Stationary, Office
Stationary, Paper Stationary, Printing Paper, Paper Bags, Paper Rolls and
Paper Sheets |
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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Maximum Credit Limit : |
USD 8000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
small concern having satisfactory track. 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
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Name : |
Ms. Swati Jain |
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Designation : |
Manager Exports |
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Contact No.: |
91-9811463563 |
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Date : |
28.03.2008 |
LOCATIONS
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Registered Office : |
A-20, Guru Nank
Pura Lane – 3, Laxmi Nagar, Delhi – 110092, India |
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Tel. No.: |
91-11-22458412
/ 42448423 / 22152409 |
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Mobile No.: |
91-9811222959 [Ms. Shobha Jain] |
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Fax No.: |
91-11-22458412 / 22438863 |
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E-Mail : |
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Website : |
http://www.fortunepaperproduct.com
[Under Construction] |
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Area : |
180 sq. mt. |
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Location : |
Owned |
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Factory : |
FS-79, Laxmi
Nagar, Delhi – 110092 |
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Area : |
360 sq. mt. |
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Location : |
Owned |
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Factory : |
A-14/638,
Vasandhura Commercial Area, Ghaziabad |
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Area : |
288 sq. mt. |
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Location : |
Owned |
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Subject wanted to
start new factory with investment of Rs. 10.000 Millions |
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Godown : |
SS-50, Laxmi
Nagar, Delhi – 110092 |
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Area : |
180 sq. mt. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Shobha Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
58 Years |
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Qualification: |
Post Graduate |
KEY EXECUTIVES
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Name : |
Miss. Swati Jain |
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Designation : |
Manager Exports |
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Mobile No.: |
91-9811463563 |
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Date of
Birth/Age : |
27 Years |
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Qualification
: |
MBA From London |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Note Books, Paper Products, Stationery, A4 Copier Paper, Diaries,
Folders, Planners, Note Pads, Office Paper, School Stationary, Office
Stationary, Paper Stationary, Printing Paper, Paper Bags, Paper Rolls and
Paper Sheets |
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Agencies held : |
All leading paper
manufacture |
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Trade Mark : |
Fortune Gold |
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Exports to : |
Nigeria, UK, USA, Canada, Australia, Pakistan, Bangladesh, Mexico
Middle East, Ireland, Holland and Ghana |
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Terms : |
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Selling : |
L/C, DA, DP 50%
Advance and part on delivery Local Sales :
Cash or 30 days Credit |
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Purchasing : |
Local Purchase :
Cash or up to 30 days Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
50 |
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Bankers : |
Oriental Bank of
Commerce, Vikas Marg, New Delhi - 110092 |
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Facilities: |
C/C Rs. 1.000
Million |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Friends Associates Established in
1980 [For Domestic
Market] Banker State Bank
of India – Chandni Chowk, Delhi – 110006 Facilities From
Bank : Rs. 2.200 Millions No. of Employees
[Office + Factory] : 17 Sales Turnover :
Rs. 6.000 Millions |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs. 2.000
Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 2.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
6.000 |
5.000 |
4.500 |
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Profit/Loss for the year |
13% |
13% |
13% |
Expected Sales
Turnover for March 2008 Rs. 7.500 Millions
LOCAL AGENCY FURTHER INFORMATION
Subject Company and
Friends Associates, both the companies are started by Mr. S. C. Jain [Father of
Ms. Swati Jain]
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 |
|
US Dollar |
1 |
Rs.40.10 |
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UK Pound |
1 |
Rs.80.40 |
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Euro |
1 |
Rs.53.31 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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 |
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/normal. |
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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