MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANTIQUE INTERNATIONAL |
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Registered Office : |
C-1/603, Capital Apartments, Vasundhara Enclave, Delhi – 110 096 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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IEC No.: |
4103000848 |
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ESI registration No.: |
21-14259-43 |
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PAN No.: [Permanent
Account No.] |
Akapk5269m |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Marble, Stone and Tiles |
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 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually made as per commitments. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Alok Kaushik |
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Designation : |
Proprietor cum Chief Executive Officer |
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Date : |
14.10.2008 |
LOCATIONS
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Registered Office : |
C-1/603, Capital Apartments, Vasundhara Enclave, Delhi – 110 096,
India |
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Tel. No.: |
91-11-22615805 |
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Mobile No.: |
91-9811170570 |
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Fax No.: |
91-11-22624225 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
G -14, Site 5, UPSIDC, Greater Noida, Karna Industrial Area, Noida –
201 306, Uttar Pradesh, India |
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Tel. No.: |
91-11-22615805 / 2341776 / 4349821 / 4349822 |
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Fax No.: |
91-11-22624225 / 4349822 |
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E-Mail : |
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Area : |
700 Sq.Mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Alok Kaushik |
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Designation : |
Proprietor cum Chief Executive Officer |
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Age : |
50 years |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Marble, Stone and Tiles |
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Products : |
·
Tiles ·
Slabs ·
Pavings ·
Cappings ·
Rivens ·
Tumbled Stones ·
Marbles ·
Granites ·
Sandstones ·
Quartzites ·
Stack Stones ·
Mosaics: ·
Wall Claddings: |
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Exports : |
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Products : |
Tiles, Slabs, Pavings, Cappings, Rivens, etc |
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Countries : |
UK, USA, Canada, Dubai, Australia, South Africa |
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Terms : |
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Selling : |
LC, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
25 |
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Bankers : |
Canara Bank, Noida – 201 301, Uttar Pradesh, India |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Export Promotion Council for EOUs, SEZs (EPCES) |
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Associates/Subsidiaries : |
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Name of the Concern
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· Natural Stones · S K International |
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Address : |
Village Kund, Riwari |
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Activities: |
Manufacturer and Exporter of Marble, Stone and Tiles |
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Sales Turnover : |
Rs. 20.000 millions |
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Employees : |
30 persons |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 3.500 millions |
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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30.000 |
25.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs. 40.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
Concern Profile
The concern is
a natural stone and ceramic architectural product manufacturer, supplier and exporter with its facility at the
National Capital Region, commenced its operations in 2003 to cater to this
emerging consumption space. Their range of products include Tiles, Slabs, Wall Claddings, Mosaics,
Pavings, Cappings, Stack Stones, Rivens, Tumbled Stones, etc.
The marble/granite/sandstone/quartzite
products have the aesthetics and utility to match or excel any of the
existing ceramic or stone products. They have the technology to tailor-make
products to suit their customers' specialized needs in a cost-effective way.
They are an affiliated member of the prestigious Export Promotion Council for
EOUs and SEZs (EPCES).
Stone Splendor
Subject is engaged in the manufacture, supply and export of a comprehensive range of products. Their USP lies in the range and depth of the stocks. Currently they deal in the following products:-
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Tiles
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Slabs
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Pavings
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Cappings
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Rivens
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Tumbled Stones
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Marbles
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Granites
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Sandstones
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Quartzites
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Stack Stones
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Mosaics: Autumn Slate Mosaics, Copper Quartzite
Mosaics, Indian Multicolour Slate Mosaics, Marble Mosaics, etc.
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Wall Claddings: Desert Sand Medium Clefted Wall
Claddings, Rainbow Sandstone Artificially Clefted Wall Claddings, Teakwood
Medium Clefted Wall Claddings, etc.
Application
The product range includes tiles in a wide range of
dimensions and shapes for application in high traffic commercial and public
areas. Industrial tiles will be available in various sizes with thickness in
glazed and unglazed versions.
Their Tiles, Slabs, Wall Claddings, Mosaics, Pavings,
Cappings, Stack Stones, Rivens, Tumbled Stones, etc. are more versatile than
vinyl flooring, concrete, epoxy and polyurethane flooring systems and acid
resistant bricks. Being heavy duty and abrasion resistant, along with being
aesthetic and functional, their products will therefore find usage in swimming
pools, gardens and fountains.
Quality
Quality is built into everything they do, thereby ensuring products of the highest standards. The concern has a mechanism of "quality inspection", whereby all their products are checked by a team of quality experts and industrial experts during the production process.
Their products are highly tough, non water-absorbent, non-slip
and non-porous in nature. The granites and sandstones are popular for
their excellent stain resistant features. The compact and homogeneous texture
meets the highest standards and technical specifications of International
Quality. Owing to this, they have acquired a wide customer base spread across
USA, South Africa, Australia, and in many other parts of the world, with 90% of
their products exported to these regions.
Infrastructure
The phenomenal success of their organization is the culmination of selective and well-trained manpower, advanced quarrying machines and equipments built on latest technology, planning and professionalism. The concern has an in-house team of craftsmen and civil engineers who are experienced in the concerned discipline. The concern trains and directs them in matters of intricacies of the construction industry.
The team follows the best practices in the construction
business and ensures high quality, conformance with international standards,
input of best quality materials and adherence to delivery schedules.
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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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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