MIRA
INFORM REPORT
|
Report Date : |
22nd
June, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
SAM
INC. |
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Registered Office : |
C –
24, Padma Nagar, A. K. Road, Andheri (East), Mumbai – 400 099, Maharashtra,
India. |
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Country : |
India |
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Date of Incorporation : |
1992 |
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CIN No.: [Company
Identification No.] |
AAHPM3202B |
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IEC No.: |
0392036151 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS45514A |
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PAN No.: [Permanent
Account No.] |
AAHPL3202B |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturing
and Exporter of Scarves, Stoles, Shawls, Ponchos, Pareas, Sarongs, Beachwear,
bandana, Head wraps, Triangles, Belts, Skirts, Tops, Kurtis etc |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow
but Correct |
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Litigation : |
Unknown |
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Comments : |
Subject
is an established concern having moderate track. It’s payments are reported
as slow but correct. At times, trade relations are not favourable. Initially,
the concern can be considered for any business dealings on safe and secured
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
C –
24, Padma Nagar, A. K. Road, Andheri (East), Mumbai – 400 099, Maharashtra,
India. |
|
Tel. No.: |
91-22-56920093/
26873581 |
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Fax No.: |
91-22-56952010 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory
: |
Mumbai
& Thane 118, 1st
Floor, Damji Shamji Industrial Estate, Mahakali Caves Road, Near Nelco Bus
Stop, Mumbai – 400 093, Maharashtra, India |
|
Tel.
No.: |
91-22-66920093
/ 26873581 |
|
Fax
No.: |
91-22-66952010 |
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Area : |
20000
+ sq. ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr.
Sanjay S. Mantry |
|
Designation : |
Proprietor |
|
Address : |
C –
24, Padma Nagar, A. K. Road, Andheri (East), Mumbai – 400 099, Maharashtra,
India. |
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Date of Birth/Age : |
39
Years |
|
Qualification : |
Charted
Accountant, Fashion Designer, MBA, LLB |
|
Experience : |
17
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Exporter of Scarves, Stoles, Shawls, Ponchos, Pareas, Sarongs, Beachwear,
bandana, Head wraps, Triangles, Belts, Skirts, Tops, Kurtis etc |
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|
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Exports to : |
Europe,
USA and Middle East |
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Terms : |
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Selling : |
L/C,
Cash and Credit |
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Purchasing : |
Cash
and Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers,
Retailers and End Users |
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No. of Employees : |
30 |
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Bankers : |
State
Bank of India, MIDC, Andheri (East), Mumbai |
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Facilities : |
-- |
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Banking Relations : |
Unknown |
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Auditors : |
Rajiv
Delakha |
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Qualification: |
Charted
Accountant |
CAPITAL STRUCTURE
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Capital
Investment : |
|
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Owned : |
Rs.
1.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
1.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 (Estimated) |
|
Sales Turnover |
|
|
3.500 |
LOCAL AGENCY
FURTHER INFORMATION
AS
PER WEBSITE:
PROFILE:
WHICH scarves / stoles / shawls / sarongs /
bandanas etc. and other accessories are in trend / fashion for the coming
season ?
WHO can supply these quality products on a committed prompt delivery at
competitive prices ?
WHAT if I have smaller quantity to order ?
WHO can develop my designs with complete exclusivity ?
The answer to all these questions is Sam Inc.
For a wide range in Fashion accessories.
Sam Inc. is one of India's leading and largest
growing quality conscious manufacturer and exporter of wide variety of fashion
accessories such as womens scarves, head scarves, womens head scarves, indian
scarves, stoles, shawls, sarongs, head wraps, bandanas, hand bags, purses,
crochet, costume jewellery, hair wears, ties etc., textile fabrics and woven
ready made garments, having office; factory and processing plant in Bombay.
They specialise in all kinds of scarves, stoles, pareos, shawls, head wraps,
triangles, bandanas, poncho etc. in variety of styles, colours, fabrics and
sizes unfolding a world of fashion and designs.
PRODUCTS:
Fashion Accessories : They are
manufacturer of Womens Scarves, Head Scarves, Stoles, Oblongs, Pareos, Sarongs,
Bandanas, Shawls, Jamawar shawls, Head wraps, Triangle, Hand Bags, Purses, Hair
wear, Scrunches, Ties, Caps, Beachwear, made ups, fabrics and woven Apparel for both men and women clothing.
Fabrics : Rayon, Cotton, Polyester,
Wool, Nylon, Silk, Velvet, Chiffon, Georgette, Blended, Fancy, Net, Jacquards,
Hand Crochet, Burn-out, Handloom etc.
Range of Styles : They have a wide range of
designs such as solids, Tie and Dye, Shaded, Ombre, Aari, Embroidery, Beads,
Sequins, Fringes, hand crochet etc and also, prints
such as floral, animal, checks, paisley, abstract, geometric, batik, block,
brush paint in variety of sizes and colours.
MISSION:
As one of the largest growing export companies in India, their mission and
driving force is 100 % customer satisfaction in terms of quality,
punctuality and total customer service at competitive prices.
State-of-the-art technology, sound financial backing and large resources help
us strengthen their quality standards and on time delivery. Their designer team
is aware of latest fashion trends and incorporate them in their on-going continuous
development. Their commitment to customer service, excellent quality and values
will always keep bringing you to Sam Inc.
Presently, they are exporting to well reputed and top-notch labels in Europe,
America etc. They have excellent manufacturing and processing facility for the
fabrics along-with a well-equipped sampling department. Also, a large in house
stitching manufacturing capacity backed by experienced work force with an
uncompromising commitment to quality and on time delivery at most competitive
prices to give complete customer satisfaction. They handle large and
small orders with equal ease and ensure quality and promptness at all times.
Sam Inc. specializes in the manufacture and
exports of high quality fashion accessories and readymade garments for the
global buyers. They have their own office, Factory, Processing plant and large
Showroom which is located near the International and Domestic airport in Bombay
( Mumbai ) . They are trusted worldwide for their extensive range and quality of
fashion accessories for women, Men and kids.
Sam Inc. is backed by a strong state-of- the-art technology, excellent manufacturing and processing facility, sound financial backing and large resources that help us strengthen their quality standards and on time delivery. Sam Inc also, has a well-equipped sampling department and makes new designs every day and can develop new styles as per the idea or specifications. Their designer team is aware of latest fashion trends and incorporate them in their on-going continuous development.
Management
Setup:
Introduction :
Sam Inc.'s forte is
service to the clients, uncompromising commitment to quality and delivery at
competitive prices and catering to large and small orders with equal ease.
Quality Control Setup
QA/QC Introduction :
100 % Customer
Satisfaction
Test Equipment and Facilities :
Sam Inc. is backed
by a strong state-of- the-art technology, excellent manufacturing and
processing facility, sound financial backing and large resources that help us
strengthen their quality standards and on time delivery. Sam Inc also, has a
well-equipped sampling department and makes new designs every day and can
develop new styles as per the idea or specifications. Their designer team is
aware of latest fashion trends and incorporate them in their on-going
continuous development. They have a large in house stitching manufacturing
capacity backed by experienced work force with an uncompromising commitment to
quality and service.
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 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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|
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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 |
|
30 |
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 |