MIRA
INFORM REPORT
|
Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHRIRAM STONE CUTTING INDUSTRIES |
|
|
|
|
Registered Office : |
N.H.-11 Agra Road,
Sikandra Dhani Daber, Daosa – 303 326, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment |
1986 |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Stone Carvings like Flower Pots,
Decorative Stone, Birds, Animals, Garden Sets etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern. 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. |
INFORMATION PARTED
BY
|
Name : |
Mr. Hariprasad Saini |
|
Designation : |
Sales Executive |
|
Contact No.: |
91-9414583056 |
|
Date : |
04.11.2008 |
LOCATIONS
|
Registered Office/Factory : |
N.H.-11 Agra Road,
Sikandra Dhani Daber, Daosa – 303 326, Rajasthan, India |
|
Tel. No.: |
91-1420-240176 / 214013 |
|
Mobile No.: |
91-9414070135 / 9829032455 / 9414583056 |
|
Fax No.: |
91-1420-240396 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 Sq. ft. + Factory |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Heeralal Saini |
|
Designation : |
Partner |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
H.S.C. |
|
|
|
|
Name : |
Mr. Shriram Sahay Saini |
|
Designation : |
Partner |
|
Date of Birth/Age : |
61 Years |
|
Qualification : |
S.S.C. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stone Carvings like Flower Pots,
Decorative Stone, Birds, Animals, Garden Sets etc. |
|
|
|
|
Products : |
·
Garden Lamp ·
Stone Balls ·
Piller with design ·
Night Lamp ·
Jharokha ·
Eleplant design on stone ·
Brackets ·
Pinapple with stand ·
Temple with tomb · Mushroom |
|
|
|
|
Exports : |
|
|
Products : |
Stone Carvings 75 % |
|
Countries : |
·
USA ·
Germany ·
UK ·
Australia ·
UAE |
|
|
|
|
Imports : |
|
|
Products : |
Cutting Blades 25 % |
|
Countries : |
·
Germany ·
UK etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Cash |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
|
Customers : |
·
Local Customer ·
End Users |
|
|
|
|
No. of Employees : |
245 (In Office 45 and In Factory 200 including Sister concern
employee) |
|
|
|
|
Bankers : |
·
State Bank of Bikaner and Jaipur, Sikandra Dhani Darbar, Daosa ·
ICICI Bank, Daosa Branch |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Gajinder Khandelwal and Company Chartered Accountants |
|
Address : |
Jaipur |
|
|
|
|
Associates/Subsidiaries : |
·
Ram Avtar Stone Company, Sikandra Activity : Stone Carvings ·
Rattan Lal Lalu Ram Saini, Sikandra Activity : Stone Carvings ·
Shri Shuddh Stone Cutting Industries |
CAPITAL STRUCTURE
(As on 31.03.2007)
|
Capital Investment : |
|
|
Owned : |
Rs. 6.000 Millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 6.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
7.500 |
24.200 |
21.600 |
|
|
|
|
|
|
Profit/Loss for the year |
NA |
2.400 |
2.000 |
Expected Sales (2008-09): Rs.8.500 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Proimage PLC
– UK
- Faizivi –
Australia
- Brand Atlenan
– Germany
- Steven Dubner land slapping
Web Details
Subject steps back into the past to help create a new future in design.
Through the centuries, throughout the world, stone has ramained the material of choice for monumental buildings. It is solid, dense and permanent. There is an intriguing contradiction to stone.
Although
it is the strongest of materials, it can be carved and chiseled into forms as
delicate as the folds of fabric.Today most of the timeless carved stone
building date back to pre-war days.
The carving of stone for
architectural purposes is a long and laborious process which is now rarely
practiced and is no longer cost effective.
Now Subject
designs, executes and installs carved stone screens, facades, lintels,pillars
columns,fountains and gazebos.
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 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.47.76 |
|
UK Pound |
1 |
Rs.74.87 |
|
Euro |
1 |
Rs.60.81 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
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 |
|