MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAVRATHAN STONE EXPORTS |
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Registered Office : |
No. 16, H-1, Attivelle Industrial Area, Hosur Road, Anekul Taluk, Attivelle
Bangalore 562176, Karnataka, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Processors and Exporters of Granite Tiles and Slabs also Blocks and
Bricks. |
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 2000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but 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 reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory/Head Office : |
No. 16, H-1, Attivelle Industrial Area, Hosur Road, Anekul Taluk,
Attivelle Bangalore 562176, Karnataka, India. |
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Tel. No.: |
91-80-27820090 / 27825920 |
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Mobile No.: |
91-9343553426 / 9342658719 |
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Fax No.: |
91-80-42038075 |
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E-Mail : |
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Area : |
1.5 Acres Land and 24000 sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Suresh Pareek |
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Designation : |
Proprietor |
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Date of Birth/Age : |
34 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Contact No: |
91-9342163719 / 9342658719 |
KEY EXECUTIVES
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Name : |
Mr. Naresh Pareek |
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Designation : |
Key Executive |
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Mobile No : |
91-9342163719,91-9449062341 |
BUSINESS DETAILS
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Line of Business : |
Processors and Exporters of Granite Tiles and Slabs also Blocks and
Bricks. |
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Products : |
·
Red Multi Juprana Base Pepiso ·
Abolute Black Granite ·
Lakha Red ·
Tiger Skin (South) ·
Shivakashi Yellow ·
Dolsey ·
Kashmiri White ·
Raw Silk Pink ·
Indian Green ·
Hassan Green ·
Ivory Chiffon ·
Vizag Blue ·
Sandstone ·
Table Top ·
Kitchen Top ·
Navrathan Platinum, etc. ·
Unmatched Quality |
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Exports : |
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Countries : |
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Spain ·
Dubai ·
Australia ·
Turkey ·
France ·
Malaysia ·
Jordan |
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Imports : |
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Countries : |
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China ·
Japan |
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Terms : |
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Selling : |
L/C, Direct Client Based |
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Purchasing : |
L/C,D/P, Against Payment |
GENERAL
INFORMATION
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Suppliers : |
·
Tinex India Private Limited, Mumbai ·
Sapna Abrasives, Blore ·
Stone World, Bangalore. |
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Customers : |
·
S.M/G. Overseas, Jaipur ·
Dimarmy, Spain ·
J C Granite Private Limited, Delhi. |
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No. of Employees : |
100 |
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Bankers : |
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ICICI Bank, Electronic City, Bangalore ·
Bank of Baroda, Brigade Road, Bangalore. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. G Achari, Chartered Accountant |
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Address : |
Bangalore, Karnataka, India. |
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Memberships : |
Jigani Granite Association |
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Associates/Subsidiaries : |
·
Navarathan Granite, Bangalore ·
Navarathan Granite and Marbles, Bangalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.400 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.400 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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38.800 |
30.000 |
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Profit/Loss for the year |
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About 10% |
About 10% |
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Export Value |
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32.000 |
25.000 |
Average Value of Inventories At Any Given Time: Rs.12.500 Millions.
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Attached:
Profile:
Established in the year 1998, today
the concern is a well known manufacturer
and exporter of granites and marbles in India.
Their range of premium quality products conforms to the international
quality standards as every product undergoes stringent quality checks while the
quarrying, processing, finishing and dispatching stages. They export 65% of
their total produce to European and the Middle East countries and in the near
future, they aim to expand their export market worldwide.
Some of the gems of their products are Red
Multi Juprana Base Pepiso, Abolute Black Granite, Lakha Red, Tiger Skin
(South), Shivakashi Yellow, Dolsey, Indian Green, Hassan Green, Ivory Chiffon,
Vizag Blue, Navrathan Platinum, Kashmiri White, Raw Silk Pink
and a lot more. In their endeavor to make their products easily available to
the worldwide clients, they entirely depend on Navrathan Exports which
exclusively looks after external affairs of the concern.
For the domestic market, they have hundreds of distributors and dealers
in every region of India. They owe their success to the level of commitment
made to the clients in maintaining quality and technology at every instance.
Their well equipped infrastructure and productive manpower are the two strong
pillars on which their entire activity is sustained. They can produce as per
the requirements of clients, with every slab and block nominally priced
Unmatched Quality:
There is no close substitute of their granites, slabs, bricks and
marbles as far as the quality of design, pattern, color and finishing is
concerned. Subject puts quality at the top of its priority list and undertakes
every necessary step for continual improvement of the same. The concern has a
special cell for quality scanning purposes where rigorous quality tests are
conducted with the help of appropriate machines and tools.
Their well qualified quality personnel keenly look into every aspect and
approve only when the products reach a perfect and flawless stage. They also
feel proud to declare that every rough block of stones and marbles are sourced
from authentic agents.
Infrastructure:
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Right from the quarrying site to the warehouse, quality is their sole
priority
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Their gigantic infrastructure is laden with the most advanced range of
processing machines, designing, tools, polishing devices, etc.
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The workforce of the concern comprises of highly talented and
experienced artisans, designers, quality personnel, supervisors, marketing
professionals, amongst others
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Subject has a well organized marketing system which functions efficiently
for the domestic and international clients
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Total customer satisfaction through quality and nominal pricing
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With a vision for further expansion worldwide, they firmly believe in
consistency and sheer hard work.
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.48.96 |
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UK Pound |
1 |
Rs.80.26 |
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Euro |
1 |
Rs.63.08 |
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 |
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 |
NO |
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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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