MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
N Y IMPORTS EXPORTS |
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Registered Office : |
Navjivan Commercial Premises, Co-operative Society Limited, Building
No. 3, Office No. 10, 1st Floor, Lamington Road, Mumbai – 400008,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Wooden Products. |
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 : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern having steady business. Trade
relations are fair. Payments are usually correct ands as per commitments. Scale of operations is small. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Neville Modi |
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Designation : |
Key Executive |
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Contact No.: |
91-9867024019 |
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Date : |
01.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
Navjivan Commercial Premises, Co-operative Society Limited, Building
No. 3, Office No. 10, 1st Floor, Lamington Road, Mumbai – 400008,
Maharashtra, India |
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Tel. No.: |
91-22-23005630 |
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Mobile No.: |
91-9867024019 / 9920874313 |
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Fax No.: |
91-22-23092374 |
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E-Mail : |
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Area : |
220 sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mrs. Anahita Mody |
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Designation : |
Proprietor |
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Age : |
41 years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name : |
Mr. N. H. Mody |
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Designation : |
Authorised Signatory (CEO) |
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Date of Birth/Age : |
44 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Wooden Products. |
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Products : |
· Handcrafted Wooden Boxes · Wooden Desktop Items · Wooden Games · Photo Frames and Mirror Frames · Handcrafted Wooden Idols |
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Exports : |
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Products : |
Wooden Products |
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Countries : |
·
Europe ·
Australia ·
U.K. |
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Terms : |
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Selling : |
Credit (90 days) |
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Purchasing : |
Cash and Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Master Distributors |
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No. of Employees : |
3 |
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Bankers : |
ABN Amro Bank, Fort Branch, Mumbai, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A M Khatiwala Chartered Accountants |
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Address : |
Grant Road, Mumbai, Maharashtra, India |
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Memberships : |
Export Promotion Council of Handicraft |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.300 million (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 0.300 million (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 (Estimated) |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
4.000 |
3.000 |
2.800 |
Expected Sales (2008-09) : Rs.5.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
NOTE:
The Concern get its (work) done from small villages in Delhi and then exports
the same. It has a tie – up with hand –
crafters in Delhi.
Trade Reference:
·
Heritage India Imports, Australia
Website details:
Subject is
renowned name in the industry of handicraft items as a prominent manufacturer
and merchant exporter. The products in which they deal includes handcrafted wooden
boxes, wooden desktop items, wooden games and photo frames and mirror frames.
In 1996, they entered into the handicraft business with an idea to be a part of
this creative industry and become a indistinguishable part of their customer's
daily life. Today, their concern has made a name for itself in the
industry in terms of quality and reliability.
Quality
They put special emphasis on the quality of their products.
They use the best quality of wood and at every phase of production each
piece is inspected under the close supervision of experts.
Designs
Their range of wooden
boxes, wooden desktop items, wooden games and photo frames and mirror frames
are known for their innovative designs and patterns. Skilled craftsman use
their imagination at the highest level and constantly develop new designs.
Key Features
The special characteristics of their concern and products
can be highlighted in the following points:
·
Sound infrastructure
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Creative craftsman
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Hard working labors
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Superior quality raw material
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Innovative designs
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Affordable rates
·
Timely delivery
Business Network
With hundred percent concentration in export market, they
have regular business with markets of Europe and Australia.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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 |
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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