MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE SHAW HOUSE |
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Registered Office : |
C-28, Nizamuddin West, New Delhi - 110013 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2000 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT04888C |
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PAN No.: [Permanent
Account No.] |
AAXFS9026R |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Shawl Carpets, Home Furnishing, Fashion
Accessories and Handicrafts. |
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 40000 |
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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 well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
C-28, Nizamuddin West, New Delhi- 110013, India |
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Tel. No.: |
91-11- 24352921 / 24351894 / 41827278 / 23725411 / 24357415 |
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Fax No.: |
91-11-24357415 / 23719105 |
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Website : |
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E-Mail : |
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Area : |
800 Sq.fts. |
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Location : |
Owned |
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Head Office : |
201, 2nd Floor, Dr. Ali Jan Shopping Plaza, M.A. Road –
Shrinagar – 190001, Jammu and Kashmir, India |
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Tel. No.: |
91-194-2100779 / 2481665 / 246227 |
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Fax No.: |
91-194-2481665 / 2462227 |
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Area : |
800 sq. fts. |
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Location : |
Owned |
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Showroom : |
Show Brothers, 20, Hotel Le Meridian, Windsor Palace, Janpath Road,
New Delhi – 110001, India |
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Tel. No.: |
91-11-23725411 |
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Fax No.: |
91-11-23719105 |
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Area : |
300 sq. fts. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Munieb Shaw |
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Designation : |
Partners |
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Date of Birth/Age : |
29 Years |
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Qualification : |
B.Com |
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Mobile No.: |
91-9810786000 |
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Name : |
Mrs. Moaqin Shaw |
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Designation : |
Partner |
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Date of Birth/Age : |
25 Years |
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Qualification : |
B. Com |
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Name : |
Mrs. Rehana Shaw |
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Designation : |
Partner |
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Date of Birth/Age : |
48 Years |
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Qualification : |
B. Com |
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Name : |
Mr. Abdul Qayoom Shaw |
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Designation : |
Partner |
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Date of Birth/Age : |
55 Years |
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Qualification : |
B. Com |
KEY EXECUTIVES
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Name : |
Mr. Suresh Jaisinghani |
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Designation : |
General Manager |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Shawl Carpets, Home Furnishing, Fashion
Accessories and Handicrafts. |
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Products : |
· Handicrafts Products, · Shawls, · Carpets, · Home Furnishings, · Handicrafts, · Fashion Accessories, · Apparels, · Jamawar Shawls, · Jamawar Scarves, · Jacquard Shawls, · Jacquard Scarves, · Pashmina Shawls, · Woolen Shawls, · Silk Shawls, · Cotton Shawls, · Linen Shawls, · Blended Shawls, · Embroidered Shawls, · Printed Shawls, · Blended Shawls, · Embroidered Shawls, · Printed Shawls, · Cushion Covers, · Bed Covers, · Throws, · Crewel Fabric, · Fashion Bags, · Muffkers, Tunics, · Tops, Skirts, · Dresses, Gowns, · Jackets, · Coats, · Women Wear Sarees, · Jamawar And Jacquards, · Jackets And Coats |
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Exports : |
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Products : |
Handicrafts Products, Shawls, Carpets, Home Furnishings, Handicrafts,
Fashion Accessories, Apparels, Jamawar Shawls, Jamawar Scarves, Jacquard
Shawls, Jacquard Scarves, Pashmina Shawls, Woolen Shawls, Silk Shawls, cotton
Shawls, Linen Shawls, Blended Shawls, Embroidered Shawls, Printed Shawls,
Blended Shawls, Embroidered Shawls, Printed Shawls, Cushion Covers, Bed
Covers, Throws, Crewel Fabric, Fashion Bags, Muffkers, tunics, Tops, Skirts,
Dresses, Gowns, Jackets, Coats, Women Wear Sarees, Jamawar and jacquards,
Jackets and Coats |
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Countries : |
U.S.A., U.K., Canada. Europe and Gulf Countries |
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Terms : |
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Selling : |
LC, Credit (30-60 days) (Depend upon Clients) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Suppliers : |
Purchase Raw Material from Open Market. |
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Customers : |
Wholesalers, Retailers, End Users |
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No. of Employees : |
30 |
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Bankers : |
Jammu and Kashmir Bank Limited, Connaught Place, New Delhi – 110001,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Verma and Associates Chartered Accountants |
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Address : |
New Delhi – 110 013, India |
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Memberships : |
· AEPC (Apparel Export Promotion Council) · EPCH (Export Promotion Council for Handicrafts) |
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Associates : |
Shaw Brothers Address : D-47, G.F.
Defence Colony, New Delhi – 110024, Delhi, India Tel No.: 91-11-24690364 /
41550858 /24690280 / 29562918 / 26967056 Fax No.: 91-11-24641073 /
24330260 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.8.000 millions |
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Borrowed : |
---- |
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Total : |
Rs.8.000 millions |
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 |
70.000 |
25.000 |
22.000 |
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Profit/Loss for the year |
NA |
12 % |
12 % |
Expected Sales (2008-09): Rs.100.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Web Details ATTACHED:
Concern Profile
Established in 1840 is one of the pioneers
of Kashmir art which has never let down it's customers and patrons. Having been
through all the vagaries of time and skill came unscathed to serve it's patrons
and customers and providing them all the genuine art work all Handicrafts by
their most skilled and dedicated master craftsmen since generations. The
concern is manufacturers, wholesale suppliers and exporters of Ladies Shawls
from India.
Products - The Range is Immense
In Kashmir, the concern produce anything from ornament to a collector's
item in exciting designs. They come in ethnic designs and suit the pocket also.
The wide range of their unique handcrafted products in simply astonishing
styles and designs include:
· Shawls
· Carpets
· Home Furnishings
· Handicrafts
· Fashion Accessories
· Apparel
Infrastructure
Subject has the H.O. at 201, Dr. Alijan Shopping Plaza, Srinagar, Kashmir.
Their office is well maintained by qualified staff members. Each department
looked after by the expert guidance of concerned manager. Every detailed
workmanship is keenly taken care and the designs and colors are added to the
collection every season along the traditional ones.
The Quality is – Matchless
Their products are prized everywhere for their miraculous craftsmanship.
The outstanding designs that these artists produce involves several diligent
hours of labor coupled with modest desire to give one's best to the rest of the
world. Their enormous skill is reflected on items they produce. They are in
this field for generations and have an undying commitment to produce only the
best in the industry.
Master the Art of Creation
Subject offers an enormous scope for fulfilling the custom specific
requirements of the buyers situated across the globe. Embellished with
intricate patterns and elegant designs, their wide collection of art simply
knows no limits.
Motto is Customer Delight
The concern continuously strive for better quality and innovation so as
to satisfy the customer more and more leading to customer delight. Their
commitment to their customers leads them to search for product, which might not
fall into their portfolio.
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.45.97 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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 |
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 |
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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