MIRA
INFORM REPORT
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Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
DOLPHIN INTERNATIONAL |
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Registered Office : |
Rao Shopping Center, Above Punjab National Bank, Naharpur Rohini, Sector
– 7, New Delhi – 110 085 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2005 |
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IEC No.: |
*0505009170 |
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PAN No.: [Permanent
Account No.] |
Aaspg5989l |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and exporter
of handicrafts Items |
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 35000 |
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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 concern having satisfactory track.
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. Dinesh Gupta |
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Designation : |
Proprietor |
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Date : |
03.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
Rao Shopping Center, Above Punjab National Bank, Naharpur Rohini, Sector
– 7, New Delhi – 110 085, India |
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Tel. No.: |
91-11-31307670 / 42988190 |
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Mobile No.: |
91-9818096767 |
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Fax No.: |
91-11-27947461 |
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E-Mail : |
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Website : |
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Area : |
400 Sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Dinesh Gupta |
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Designation : |
Proprietor |
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Age : |
45 years |
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Qualification : |
Graduate |
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Experience : |
22 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter
of handicrafts Items |
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Products : |
· Smoking Pipes · Photo Frames · Candle Stand · Jewelry Box · Horn Bone Jewelry · Ladies Fashion Bags |
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Exports : |
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Countries : |
USA, Canada, Latin American Countries, Germany, England, France,
Spain, Italy, Netherlands, Finland, Switzerland, Eastern European Countries, Russia,
Thailand, Taiwan, Chile, South Africa, Australia, New Zealand, West Indies. |
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Terms : |
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Selling : |
LC, Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing |
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No. of Employees : |
8 |
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Bankers : |
The South Indian Bank Limited, Rohini Sector -8, New Delhi – 110 085,
India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.000 millions |
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Borrowed : |
---- |
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Total : |
Rs. 7.000 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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50.000 |
40.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs. 60.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
DOLPHIN INTERNATIONAL, DELHI |
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Address |
Rao Shopping Center, Above Punjab National Bank, Naharpur Rohini,
Sector – 7, New Delhi – 110 085, India |
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2nd Address |
91-11-31307670 / 42988190 |
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Phone / Mobile Numbers |
91-11-27947461 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Income Tax Registration |
Aaspg5989l |
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VAT / TIN Registration |
*07540317850 |
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Import Export Code |
*0505009170 |
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Name of Bank |
The South Indian Bank Limited |
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Creditability Factors |
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Years of Establishment |
*2005 |
WEBSITE DETAILS-
Concern Profile:-
Subject is a leading
manufacturer and exporter of premium quality handicraft items that are very unique
and rare. They work and proceed with the aim of providing solution to both the
qualitative and quantitative needs of their clients. They lay a strong emphasis
on the quality of product manufactured by them. Their team members take extra
care in the selection of raw materials to ensure the delivery of only high
quality and zero-defect products to their customers.
Product Range
They offer a wide and comprehensive range of handcrafted items that are a real show stopper. Each item included in the product range is the result of creativity and a passion to outdo the rest. They use superior quality raw materials thus adding more shelf life to the products. The items included in the product range are as follows-
· Smoking Pipes
· Photo Frames
· Candle Stand
· Jewelry Box
· Horn Bone Jewelry
· Ladies Fashion Bags
In a short span of
time subject has been able to carve a niche for itself in the highly
competitive handicrafts market. This achievement has been possible because of
the fact that they have always striven hard for innovation and creativity and
this effort can be well seen in their products. Each product is unique and
different from the other.
As a concern they have been futuristic and thus have made all the positive
efforts to climb the steps of success and make a mark of their own and have
been successful in achieving the same. Their wide product range and competitive
pricing has enabled them to have a cutting edge over their competition and they
aim to maintain this positioning in the future.
Quality
As a concern their
commitment lies in the production of quality handcrafted items that has no near
match in the market. Their team of experts supervise every stage of production
thus only products meeting their quality standards are passed on for final
delivery. The selection of raw materials is also done in a very careful manner
thus the end product is absolutely world class.
Infrastructure
They possess a
state- of-the -art infrastructure that facilitates them in creating handicrafts
that are sure to captivate anyone's heart. All the modern machines are a part
of their infrastructure so that there is no crisis of whatsoever while
manufacturing their product line. They make use of high tech machines to
manufacture their range of products, which includes
· Modern Stitching Machines
· Molding Machines
· Cutting Machines
· Polishing Machine
They also update their machines and equipment by regular R and D to keep their
infrastructure updated.
Team
They are team of talented
and dedicated craftsman who have a passion to create something new every now
and then. Their designers are highly qualified and experienced and have a deep
understanding of art and creativity. The craftsman and designers work in close
coordination with each other and thus are able to create items that are a
marvel of creativity. The team is one of their major source of success as it is
hardworking and highly enthusiastic.
Packaging
Their packaging has
been a major point in their success as the products they manufacture are highly
delicate and thus need lot of care and attention. They use superior quality
corrugated packaging material to pack their products. They pay proper care and
attention to the packaging so that there is no damage to the product being
transported to its final destination. Their team of supervisors keeps a close
eye on the transportation of these boxes while shipping or road transportation.
Clientele
Their superior
quality products have enabled them to maintain a list of satisfied clients that
spread across the different parts of globe. Owing to their superior quality
standards they cater their products to highly quality conscious countries like,
USA, Canada, Latin American countries, Germany, England, France, Spain, Italy,
Netherlands, Finland, Switzerland, Eastern European countries, Russia,
Thailand, Taiwan, Chile, South Africa, Australia, New Zealand, West Indies.
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.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
YES |
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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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46 |
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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