MIRA
INFORM REPORT
|
Report Date : |
17th
June, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
AVIETTE
EXPORT PRIVATE LIMITED |
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Registered Office : |
B –
90, Anandpuri, Moti Doongri Road, Jaipur – 302 004, rajasthan, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
27.11.2002 |
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Com. Reg. No.: |
17-017941 |
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CIN No.: [Company
Identification No.] |
U51311RJ2002PTC017941 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRA02052B JPRA02326C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturing
of Textile Items. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
5000 |
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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 an established small company having satisfactory track. Trade relations
are fair. Financial Position is mediocre. Payments are reported as correct
and as per commitments. The
company can be considered for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
B –
90, Anandpuri, Moti Doongri Road, Jaipur – 302 004, rajasthan, India |
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Tel. No.: |
91-141-2605000 |
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Mobile No.: |
91-141-3605000 |
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Fax No.: |
91-141-2609495 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr.
Gajawat Singh Mohan |
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Designation : |
Director |
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Address : |
B –
90, Anandpuri, Moti Doongri Road, Jaipur – 302 004, rajasthan, India |
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Date of Birth/Age : |
05.08.1933 |
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Date of Appointment : |
27.11.2002 |
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Name : |
Mr.
Gajawat Manoj |
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Designation : |
Director |
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Address : |
B –
90, Anandpuri, Moti Doongri Road, Jaipur – 302 004, rajasthan, India |
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Date of Birth/Age : |
15.05.1970 |
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Date of Appointment : |
14.05.2004 |
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Name : |
Mr.
Gajawat Shanti |
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Designation : |
Director |
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Address : |
B –
90, Anandpuri, Moti Doongri Road, Jaipur – 302 004, rajasthan, India |
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Date of Birth/Age : |
19.11.1972 |
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Date of Appointment : |
27.11.2002 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Gajawat
Singh Mohan |
5000 |
|
Gajawat
Shanti |
5000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of Textile Items. |
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GENERAL
INFORMATION
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No. of Employees : |
12 |
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Bankers : |
HDFC
Bank |
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Facilities : |
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Banking Relations : |
Satisafctory |
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Auditors : |
J. M.
Saini & Company |
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Qualification: |
Charted
Accountant |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.250 |
0.152 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
0.350 |
0.252 |
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LOAN FUNDS |
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1] Secured Loans |
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0.344 |
0.000 |
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2] Unsecured Loans |
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0.115 |
0.000 |
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TOTAL BORROWING |
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0.459 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.013 |
0.004 |
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TOTAL |
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0.822 |
0.256 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.630 |
0.148 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.000 |
0.000 |
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Other Current Assets |
|
1.865 |
1.057 |
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Loans & Advances |
|
0.067 |
0.028 |
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Total Current Assets |
|
1.932 |
1.085 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.741 |
0.982 |
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Provisions |
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0.000 |
0.000 |
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Total Current Liabilities |
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1.741 |
0.982 |
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Net Current Assets |
|
0.189 |
0.103 |
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MISCELLANEOUS EXPENSES |
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0.003 |
0.005 |
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TOTAL |
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0.822 |
0.256 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
5.789 |
6.924 |
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Profit/(Loss)
Before Tax |
|
0.155 |
0.174 |
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Provision
for Taxation |
|
0.057 |
0.051 |
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Profit/(Loss)
After Tax |
|
0.098 |
0.123 |
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Total
Expenditure |
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5.634 |
6.750 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
|
1.69 |
1.78 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
2.68 |
2.51 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
6.05 |
14.11 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.44 |
0.69 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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6.29 |
3.90 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
1.11 |
1.11 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED
ASSETS:
Furniture
& Fixture, Plant & machinery, Building, Computer Set, Tata Indigo Car
etc.
AS
PER WEBSITE:
The
root level manufacturing company of high quality Textile Home Furnishing
products managed by professional and experienced management. The company with a
difference, the only aim is not to earn profits but to help artisans of rural
India and at the same time leave an impression on their customers of complete
quality satisfaction.
A
collection of wide range of bedspreads such as Applique Bed spread, Embroidery
bed spreads, Hand Worked bed spread as well as Quilted bed spread,
Designer bed spread Knitted Bed Spread, Wholesale Bed Spread, Chenille Bed
Spread, Luxury Bed Spread, that suits the personality and Style.
A collection of
wide range of Table clothes such as Handwork Table Clothes, Modern Design Table
Clothes, Printed Table Clothes with stitch work, machine embroidery, bead work
and prints, Tie-Dye using fabrics like cotton, voile, organdie, polyester and
also silk, dupion and organza, jacquard organza.
A Large Collection
of exclusive Curtains such as embroidery curtains, sequence curtains, bead
work curtains, Tie-Dye curtains, zardosi work on silk curtains, organza
curtains, jacquard organza curtains, voile curtains, organdie curtains, viscose
curtains, dupion curtains and also in low cost poly dupion curtains.
A collection of
wide range of eye catching Modern cushion covers, Embroidered cushion cover,
Printed Cushion Covers and ethnic designs of cushion covers which are
masterpieces of excellent craftsmanship. Hand embroidery cushion covers,
sequence and beaded cushion covers with zari, zardosi and mirror work.
Scarves
and Stolls:
A
collection of wide range of eye catching Woven scarves, hand work scarves, bead
work scarves, embroidered scarves and cotton shawls, viscose shawls, silk
shawls and polyester fabrics shawls. Tussles at both sides well knotted,
available in many styles and colors. Also customized designs on handlooms.
A Large
collection of wide range of eye catching, Unique and uncommon concepts in
designing designer fashion bags such as using satin, polyester and cotton
canvas with artistic hand work, embroideries, sequence and beads and Payette
work, sometimes also hand printed with art work. Every lady's dream!.
Table Mats Wholesale
A Large
collection of wide range of Wholesale Table Mats and Block printed table mats,
Colorful table mats, Stylish table mats, Patchwork table mats, Embroidered
Table Mats, dining table mats, Round Table Mats, Hand weaved table mats,
Handmade table mats and napkins such as Colorful napkins that suits the style.
.
Woven
and printed fabric aprons and hand gloves with stripes around the neck and
pocket in the front, neatly stitched and reasonably prized. kitchen
gloves, cooking aprons, embroidered aprons, embroidered kitchen gloves, kitchen
linen wholesale, kitchen aprons manufacturers, kitchen gloves wholesale.
Manufacturers &
exporters of Running lengths Fabric and hand embroidered fabrics, knitted
fabrics. Get theself in timeless ethnic fabrics created by ace designers, that
is a class apart in terms of style, grace and quality.
Quilts are well
known from Jaipur, India because of it's quality and
Profile
Having experience in the field of more than about 8 years, the
company has not left any stone unturned and is now confident to meet any
requirements of valued customers from all around the globe.
The company is manufacturing hand printed and hand crafted textile products, an
amalgamation of modern and ethnic very concepts of design in textile, using
various fabrics like Cotton, Silk, Polyester and Viscose.
Thanks to their own development section, they are able to introduce all times
new products in prints, hand embroidery, zari, zardosi, bead work, cutwork,
patchwork and also machine embroidery.
The company adheres to the strict quality checks at every stage to ensure the
best quality final products. Their craftsmen and quality controllers have the
required experience, expertise and an undying commitment to produce only the
best in the industry.
They produce as well small as large quantity orders with the same ease and
precisely according to the specifications. As the company is equipped with a
vast force of skilled and dedicated artisans and modern machines, they can
fulfill any size of orders in shortest possible time
Quality
Their focus on premium quality products with the commitment
towards complete customers satisfaction has earned us a very distinct name
amongst the international buyers.
Compulsory quality checks are instituted from conceptualization till the final
stage of product manufacturing, enabling us to keep their high standards.
Well-planned procedures ensure that production and delivery takes place always
as scheduled.
AVIETTE EXPORTS PVT LTD. offers the right value for money to its
customers in the form of high quality products, personalized services and
competitive prices. Because of their very extensive and well performing quality
processes, they are certificated with the International Quality System Standard
ISO 9001:2000.
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.92 |
|
UK
Pound |
1 |
Rs.84.76 |
|
Euro |
1 |
Rs.57.95 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |