MIRA
INFORM REPORT
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Report Date : |
27.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
HEERA JEWELLERS |
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Registered Office : |
1245, Kucha Mahajani, Chandni Chowk, New Delhi – 110 006 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1999 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Jewellery |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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. Charchit Agarwal |
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Designation : |
Proprietor Cum Chief Executive Officer |
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Date : |
22.09.2008 |
LOCATIONS
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Registered Office : |
1245, Kucha Mahajani, Chandni Chowk, New Delhi – 110 006, India |
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Tel. No.: |
91-11-23957848/23901247/23901815/45351601 |
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Mobile No.: |
91-9811114188 |
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Fax No.: |
91-11-23957848 |
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E-Mail : |
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Area : |
600 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Charchit Agarwal |
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Designation : |
Proprietor Cum Chief Executive Officer |
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Age : |
29 years |
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Qualification : |
Graduate |
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Experience : |
6 years |
KEY EXECUTIVES
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Name : |
Mr. Charchit Agarwal |
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Designation : |
Proprietor Cum Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Jewellery |
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Products : |
Diamond Jewellery ·
Diamond Rings ·
Diamond Necklaces ·
Diamond Earrings ·
Diamond Necklace Sets ·
Diamond Wedding Rings Gold Jewellery ·
Carved Gold Bangles ·
Gold Bracelets ·
Handmade Gold Jewellery ·
Antique Gold Chokers ·
Gold Earrings ·
Stone Studded Gold Necklaces ·
Gold Rings ·
Gold Necklace Sets ·
Antique Gold Jewellery ·
Gold Bracelets ·
Gold Necklaces ·
Pinned Gold Bracelets Other Jewellery ·
Designer Meenakari Necklaces ·
Gemstones Necklaces in Gold ·
Beaded Kundan Bangles ·
Bridal Jewellery ·
Semi Precious Necklaces ·
Traditional Kundan Necklaces ·
Gemstone Jewellery ·
Kundan Jewellery ·
Semi Precious Stone Jewellery |
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Export : |
Subject want to start exports |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by 35%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing |
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No. of Employees : |
20 |
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Bankers : |
· HDFC Bank Limited, Chandni Chowk, Delhi – 110 006, India · Kotak Mahindra Bank Limited, Chandni Chowk, Delhi – 110 006, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
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Name: |
Heera Diamond |
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Address: |
1245, Kucha Mahajani, Chandni Chowk, New Delhi – 110 006, India |
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Activities : |
Manufacturer and Exporter of Jewellery |
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Sale Turnover : |
Rs. 30.000 millions |
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Employees : |
15 |
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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100.000 |
80.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (208-09): Rs.120.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Notes:-
Subject is having showroom in leading and oldest gold market in Asia.
WEBSITE DETAILs:-
Company Profile:-
Jewellery has long
been associated with enhancing the beauty and overall personality of a woman.
Moreover, it occupies a significant place in the different beliefs, religions
and cultures existing in India. Subject was established in the year 1999, is a reputed
manufacturer, exporter and supplier of Gold Jewellery (Carved
Gold Bangles, Gold Rings, Gold Bracelets, Gold Necklace Sets, Handmade Gold
Jewelry), Diamond Jewellery (Diamond Rings, Diamond Necklace Sets, Diamond Necklaces,
Diamond Wedding Rings, Diamond Earrings, etc.), Designer Meenakari Necklaces,
Traditional Kundan Necklaces, and many more.
They export their
products to various countries around the world. They present a tantalizing
range of jewellery which will be treasured by their customers forever.
Processing and designing of superior quality jewellery and diamonds is their
specialization.
Their complete range of handcrafted jewellery is the result of experience and
in-depth study of the latest styles and customer requirements. A fabulous and
modern range of jewellery is available with them at the best competitive rates
Best Quality
With the help of
their experienced quality checking personnel, they conduct rigorous tests and
checks on their products to confirm and determine quality excellence. Their
products are ensured to be at par with the national and international standards
of quality. The dainty and elegant designs of their collections have won
worldwide admiration and they regularly make special efforts to supply their
clients with the best and latest designs through their products.
Infrastructural Setup
Subject is
supported by a well equipped and complete production unit, which is outfitted
with all the necessary tools to carry out its processing works in the most
efficient and smooth manner possible. Their handmade range is manufactured by a
team of dexterous and expert craftsmen who carefully carve out the designs.
Reliable and established manufacturers have been entrusted to supply them with
raw materials like gold and diamond.
Packaging
Good quality
packaging is used for their products to protect them from damages during
transit and also to lend an attractive appearance to the products. Their
jewellery sets are packaged in attractive and colorful satin pouches and padded
boxes which give them elegant appearance, apart from being timeless
keepsakes in themselves.
Why Them?
·
Unique and creatively designed range of jewellery
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Regular quality checking process to maintain their look
and sheen
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Ability to provide the latest collections in record
time
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Wide experience in the art of jewellery designing
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Committed and expert jewellery designers who are well
trained in various operations
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High rate of customer satisfaction and loyalty from
around the world.
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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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54 |
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 `ive 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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