MIRA
INFORM REPORT
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Report Date : |
3.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHIRANTAN ENTERPRISE |
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Registered Office : |
311, Ashirwad Industrial Estate No 3, Ram Mandir Road, Goregaon (W),
Mumbai 400104, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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IEC No.: |
0398066779 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC14210A |
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PAN No.: [Permanent
Account No.] |
AAAFC1388H |
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Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
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Line of Business : |
Manufacturer and Exporter of Toys, Games, Stationery (RK Brand), ED
World Globes, Maps (Globus Brand) |
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 3957 |
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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 well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashok Jain |
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Designation : |
Partner |
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Contact No.: |
91-9820086890 |
LOCATIONS
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Registered Office/Factory : |
311, Ashirwad Industrial Estate No 3, Ram Mandir Road, Goregaon (W),
Mumbai 400104, Maharashtra, India. |
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Tel. No.: |
91-22-26763892 / 28754554 |
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Mobile No.: |
91-9820086890 |
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Fax No.: |
91-22-26763773 |
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E-Mail : |
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Website : |
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Area : |
550 sq ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Ashok C Jain |
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Designation : |
Partner |
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Address : |
504, Benhur-D, Lokhandwal Complex, Link Road , Andheri (W), Mumbai
400053. |
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Date of Birth/Age : |
56 Years |
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Qualification : |
B .TECH |
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Experience : |
30 Years |
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Name : |
Mrs. Meenu A Jain |
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Designation : |
Partner |
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Address : |
504, Benhur-D, Lokhandwal Complex, Link Road , Andheri (W), Mumbai
400053. |
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Date of Birth/Age : |
51 Years |
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Qualification : |
B .SC |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Toys, Games, Stationery (RK Brand), ED
World Globes, Maps (Globus Brand) |
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Products : |
·
Educational Fun Slates ·
Promotional Slates ·
Stationery Gift Sets ·
School Stationery Sets ·
Earth Globe ·
World Globe ·
Educational Globe ·
Geographical Globe ·
Atlas Globe ·
Replogle globes ·
World Globe Map ·
Indian Maps |
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Exports : |
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Products : |
Educational World Globe, Stationery |
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Countries : |
·
Australia ·
Phillipones ·
Bangaladesh |
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Terms : |
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Selling : |
L/C Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
25 |
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Bankers : |
Union Bank of India, Oshiwara Branch, S V Road, Jogeshwari (W), Mumbai- 400102. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rasik Mota And Company, Chartered Accountant. |
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Address : |
S.V Road Ashoka Sh Contre, Goregaon (W). |
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Associates/Subsidiaries : |
Mighty Industries, Address: B-62 Shukla Estate, Mumbai 400102. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.791 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.791 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Partnership Capital |
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0.791 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.791 |
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LOAN FUNDS |
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1] Secured Loans |
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2.546 |
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2] Unsecured Loans |
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0.918 |
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TOTAL BORROWING |
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3.464 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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4.255 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.993 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.985 |
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Cash & Bank Balances |
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0.087 |
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Other Current Assets |
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1.312 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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2.384 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.122 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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1.122 |
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Net Current Assets |
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1.262 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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4.255 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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8.536 |
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Other Income |
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0.000 |
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Total Income |
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8.536 |
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Profit/(Loss) Before Tax |
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0.048 |
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Provision for Taxation |
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0.017 |
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Profit/(Loss) After Tax |
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0.065 |
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Total Expenditure |
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8.488 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.76 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.89 |
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Return on Investment (ROI) (PBT/Networth) |
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0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.80 |
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Current Ratio (Current Asset/Current Liability) |
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2.12 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
CHIRANTAN ENTERPRISE |
|
Address |
311, Ashirwad Industrial Estate No 3, Ram Mandir Road, Goregaon (W),
Mumbai 400104, Maharashtra, India. |
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Tel Phone No: |
91-22-26763892 |
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Mobile No: |
91-9820086890 |
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Fax Number |
91-22-26763773 |
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Electricity Bill |
A/c No 102660953 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership (Regd Firm) |
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Income Tax Registration |
AAAFC13884 |
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Central Sales Tax Registration |
27040264251C |
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State Sales Tax registration |
27040264251V |
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Service Tax Registration |
AAAFC13884 ST 001 |
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VAT / TIN Registration |
27040264251V |
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Excise Registration |
NA Ex Empted |
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Import Export Code |
0398066779 |
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Name of Bank |
Union Bank of India |
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Current account Number |
419905010050103 |
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Account Since |
01.04.1998 |
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Company ESI Reg Number |
31-47873-90 |
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Creditability Factors |
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India Mart Client Since |
2 Years |
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Years of Establishment |
1990 |
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Trade Affiliations |
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SSI Registration |
27-022-11-00226 |
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Export Promotion Council |
SG/RCM/C-454/02-07 |
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Other affiliations |
Member of all India Toys Manufacturer
Association. |
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Standards and Certifications |
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Safety Certificates |
EN-71, Part 1,2,3 |
Trade References:
·
Shadilal and Sons, Mr. Ajay Jain 91-9820038666.
·
R K Jain and Company, Mr. Umesh Jain (91-22-23428765/ 23421652)
Website Details
Attached:
Profile:
Subject is one of the leading manufacturers and exporters
of Educational Aids, Educational Toys, School Stationery Items and Educational
Globes. The company was established in 1990 with the aim of providing world
class educational products at affordable prices using the best technology
available. Their products have created a niche in market worldwide, including
Europe and Australia. Since their inception, they have established a dominant
position in the industrial production of Educational Items that conform to all
recognized safety and quality standards. They have been certified with CE as
per EN-71 Part 1 and Part 3.
Infrastructure:
They have a modern design studio with the latest
designing software operated by a team of highly creative designers. They are
proud to possess a well-equipped manufacturing unit with the capabilities to
produce bulk products in a short span of time. While designing and processing
they make sure that the final products conform to international quality
standards.
Quality:
They are very well aware of the fact that whatever products are made for
children, they must be absolutely safe and non-hazardous. Hence, Their Products
are made- non toxic food grade polymers. They consult some of the leading
educational psychologists who carefully research on the skills most required for
optimal development of a child and then they develop the suitable product to
enhance their knowledge and learning capabilities.
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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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
|
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 |
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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 |
|
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 |
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