MIRA INFORM REPORT

 

 

 

Report Date :

04.10.2008

 

IDENTIFICATION DETAILS

 

Name :

B R B ART AND CRAFTS

 

 

Registered Office :

23, Alkapuri, Rani Road, Udaipur – 313 004, Rajastan

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

1996

 

 

IEC No :

1303015277

 

 

PAN No.:

[Permanent Account No.]

AGLPB7228E

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Manufacturer and Exporter of Silver Handicraft items like Sterling Silver Handicrafts.

 

 

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 10000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

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

 

Name :

Mr. Vishal Bhatia

Designation :

Chief Executive Officer

Contact No:

91-9414156687

Date :

26.09.2008

 

 

LOCATIONS

 

Registered Office :

23, Alkapuri, Rani Road, Udaipur – 313 004, Rajastan

Tel. No.:

91-294-3201661

Mobile No.:

91-9414156687 (Mr. Vishal Baheti)

91-9829042121 (Mr. Manish Baheti)

Fax No.:

91-294-2433687

E-Mail :

brb@datainfosys.net

thar2003@yahoo.com

brbart@gmail.com

Area :

40000 sq ft

Location :

Rented

 

 

Factory 1 :

14 – a, Alkapuri, Rani Road, Udaipur – 313 004, Rajastan, India

Tel. No.:

91-294-3290216

 

 

SOLE PROPRIETOR

 

Name :

Mr. Manish Baheti

Designation :

Proprietor

Date of Birth/Age :

32 Years

Experience :

10 Years

 

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Vishal Baheti

Designation :

Chief Executive Officer

Date of Birth/Age :

27 Years

Experience :

5 Years

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Silver Handicraft items like Sterling Silver Handicrafts.

 

 

Products :
  • Siver Sofa Sets
  • Victoria Sofa
  • Silver Chairs
  • Console Tables

 

  • Silver Stools
  • Silver Swings
  • Silver Jarokha
  • Stature of Darban
  • Table Legs
  • Silver Chowki
  • Silver Rath

 

  • Silver Jeweiry Boxes
  • Silver Lanterns
  • Silver Chess sets
  • Silver Lamps
  • Dancing Dolls
  • Statue of Elephants
  • Statue of Horses
  • Statue of Dhola Maroo
  • Statue of Multi Purpose Box
  • Statue of Lord Ganesha

 

  • Silver Pots
  • Silver Photo Frames
  • Silver Temples
  • Silver Chopda
  • Silver Fruit Bowls
  • Silver Frames
  • Silver Tea Sets
  • Silver Candle Stands
  • Silver Flower Vases
  • Silver Hookahs
  • Silver Samai
  • Silver Door Panels

Exports :

 

Products :

All Products

Countries :

All over the world

 

 

Terms :

 

Selling :

LC, Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS

 

Capacity to increased production by :

35%

 

 

GENERAL INFORMATION

 

Suppliers :

Own Manufacturing

 

 

No. of Employees :

16

 

 

 

 

Bankers :

IDBI Bank Limited, Udaipur – 313 004, Rajasthan, India

 

 

Facilities :

--

 

Banking Relations :

Satisfactory

 

 

Memberships :

Export Promotion Council of Handicrafts (EPCH)

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs.2.000 Millions

Borrowed :

--

Total :

Rs.2.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2008

 

31.03.2007

 

Sales Turnover

 

15.000

12.000

 

 

 

 

Profit/Loss for the year

 

12%

12%

 

Expected Sales (2008-09): Rs.20.000 Millions

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trustseal Acceptance Chart                                            

 

 

Parameters

Details

Existence Verification

 

Name

B. R. B. Art and Crafts

Address

23, Alkapuri, Rani Road, Udaipur – 313 004, Rajastan

Phone/ Mobile Numbers

91-294-3201661

Fax Numbers

91-294-2433687

 

 

Statutory Approvals

 

Legal Status of Firm

Proprietorship Company

Income Tax Registration

AGLPB7228E

VAT/ TIN Registration

`08453904749

Import Export Code

1303015277

Name of Bank

IDBI Bank Limited, Udaipur – 313 004, Rajasthan, India

 

 

Credibility Factors

 

Years of Establishment

1996

Turn Over

Rs.15.000 Millions

Turn Over Year

2008

 

 

Trade Affiliations

 

Export Promotion Council

Export Promotion Council For Handicraft (EPCH)

 

Web Side Details

 

Profile
Established in 1996, Subject is a well known manufacturer and exporter of Silver handcrafted Items like sterling silver handicrafts, Indian silver handicrafts, sterling silver jewellery, sterling silver furniture etc. They present a wide range of elegantly crafted silver handicrafts like silver boxes, silver statues etc. including Silver Furniture and Sterling Silver Jewellery like silver necklaces, silver earrings, silver bangles etc. Thier traditional as well as in-vogue collection of products render Indian craftsmanship a novel definition. Thier ravishing collection is handcrafted by dexterous craftsmen, who have inherited the legacy of immaculate craftsmanship and create products that are inspirational and showcase creative originality.


Since inception, they have surmounted all initial impediments and have flourished to delineate an indelible mark in the area of thier operation. They have grown from strength to strength with confidence in thier expertise and commitment to quality. Through thier concerted efforts, they have set benchmarks of excellence within the industry verticals.

 

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.46.88

UK Pound

1

Rs.82.97

Euro

1

Rs.64.99

 

 

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

NO

--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

NO

--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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions