MIRA
INFORM REPORT
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Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIKI JEWELS |
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Registered Office : |
5/ 6, Rishikesh, Haridas Nagar, Shimpoli Road, Borivali (West), Mumbai
– 400 092, Maharashtra |
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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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IEC No.: |
0303036001 |
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PAN No.: [Permanent
Account No.] |
AADFN6793J |
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Legal Form : |
Partnership Concern with an unlimited liability of partners. |
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Line of Business : |
Manufacturer and Exporter of Fashion/ Costume Jewelry. |
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 10000 |
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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 small concern having steady business. Trade relations are
fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Navin Shah |
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Designation : |
Manager |
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Contact No.: |
Mobile no.91-9820319377 |
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Date : |
02.10.2008 |
LOCATIONS
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Registered Office/ Showroom : |
5/ 6, Rishikesh, Haridas Nagar, Shimpoli Road, Borivali (West), Mumbai
– 400 092, Maharashtra, India. |
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Tel. No.: |
91-22-28992243 |
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Mobile No.: |
91-9820319377 (Mr. Navin Shah) |
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Fax No.: |
91-22-28331390 |
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E-Mail : |
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Website : |
www.fashion-jewelry-manufacturer.com |
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Area : |
1200 sq ft |
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Location : |
Owned |
PARTNERS
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Name : |
Ms. Kirti Radia |
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Designation : |
Partner |
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Address : |
C-602, Raj Laxmi Society, Padmanagar, Chikuwadi, Borivali (West),
Mumbai – 400 092, Maharashtra, India. |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B.Com |
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Experience : |
20 Years |
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Name : |
Mrs. Nisha Shah |
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Designation : |
Partner |
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Address : |
G-201, Niranjan Society, Padmanagar, Chikuwadi, Borivali (West),
Mumbai – 400 092, Maharashtra, India. |
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Date of Birth/Age : |
43 Years |
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Qualification : |
B.A. |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Fashion/ Costume Jewelry. |
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Products : |
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Exports : |
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Countries : |
Europe, Far East |
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Terms : |
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Selling : |
Cash and Credit 30/ 60/ 90 days |
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Purchasing : |
Cash and Credit 30 days |
GENERAL
INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
10 (In office) |
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Bankers : |
C.P. Tank Branch
Rameshwar Tower, Borivali (West), Mumbai. |
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Facilities : |
The concern donot enjoy facility from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
H.M. Shukhia and Company Chartered Accountants |
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Address : |
Mumbai |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.2.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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10.000 |
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Expected Sales (2008-09) : Rs.20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27440070419
V |
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IEC Code : 0303036001 |
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PAN / TAN : AADFN6793J |
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Bank Name : Bank of Baroda, North Kanara GSB
Co-Operative Bank Limited |
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Bank Address : C.P. Tank Branch, Borivali (West) Branch |
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Bank A/c. No.: 03900200001008,
24 |
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Account Since : 1
Year, 2001 |
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Profile
Established in 2001, subject is a
manufacturer and exporter of artificial jewelry, fashion jewelry, costume
jewelry, bridal jewelry, bangles and bracelets, semi precious stones,
rhinestone jewelry, hair ornaments and other Indian artificial jewelry. They are
a professionally managed company and are known for superior innovative design
and quality. They are a customer-focused company, committed to achieve
excellence in their product and services.
They have an easy accessibility to all kinds of raw materials required to make
a spectacular range of jewelry. Along with their existing range of artificial
jewelry, customers can also source "Customized Jewelry" as per their
specifications, within stipulated time frame and at competitive rates.
Subject is one of the best names in the
Fashion Jewelry industry and is engaged in manufacturing and exporting a huge
array of Fashion / Costume Jewelry Accessories. All their products, through
their designs and finish, exhibit a unique craftsmanship. Their exclusive designs
and mesmerizing range of Fashion Jewelry has helped them earn a niche for their
selves in the industry and the competitive market. Their Fashion Jewelry is
available at cost effective prices and in attractive packets. Their artificial
jewelry can be teamed with all types of outfits and are a perfect ornament for
any occasion.
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 |
NO |
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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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