MIRA INFORM REPORT
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Report Date : |
12th May, 2006 |
IDENTIFICATION DETAILS
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Name : |
AHAD INTERNATIONAL |
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Registered Office : |
84-A,
Khizarabad, Near New Friends Colony, New Delhi-110065 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2000 |
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IEC No.: |
05033081264 |
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Legal Form : |
A
Sole Proprietorship Concern |
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Line of Business : |
Manufacturer
& Exporter of Ladies Readymade Garments, Indian traditional wears, Home
Furnishings and Hand Bags |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 10000 |
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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 and reputed concern having satisfactory track.
Proprietor is reported as experienced businessmen. His trade relations are
reported as fair. Business is active. Payments are reported as 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/ Head
Office : |
84-A,
Khizarabad, Near New Friends Colony, New Delhi-110065 |
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Tel. No.: |
91-11-55668963/26935953 |
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Mobile No.: |
91-9899570786/9811558421 |
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Fax No.: |
91-11-26935959 |
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E-Mail : |
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Website : |
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Area : |
4000
Sq.fts |
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Location : |
Rented
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Branch/ Factory: |
27-B,
Khizarabad, Near New Friends Colony, New Delhi-110065 |
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Tel. No.: |
91-11-55668923 |
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Fax No.: |
91-11-26935959 |
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Area : |
2000
Sq.fts |
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Location : |
Rented |
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SOLE PROPRIETOR
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Name : |
Mr.
Salim Khan |
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Designation : |
Proprietor |
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Address: |
R-229,
Sir Syed Road Lane,5 Jagabai Extn. Batla House, Jamia Nagar, New Delhi-110025 |
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Date of Birth/Age : |
37
years |
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Experience : |
18
years |
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Mobile No.: |
91-9899570786/9811558421 |
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KEY EXECUTIVES
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Name : |
Mr.
Salim Khan |
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Designation : |
Chief
Executive Officer |
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Address: |
R-229,
Sir Syed Road Lane,5 Jagabai Extn. Batla House, Jamia Nagar, New Delhi-110025 |
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Date of Birth/Age : |
37
years |
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Experience : |
18
years |
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Mobile No.: |
91-9899570786/9811558421 |
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Name : |
Ms.
Nidhi Gupta |
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Designation : |
Exports
Executive |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
& Exporter of Ladies Readymade Garments, Indian traditional wears, Home
Furnishings and Hand Bags |
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Products : |
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Production Capacity: |
16000
pieces per month approx |
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Exports of: |
Ladies
Garments |
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Exports to : |
UK,
France, Italy and Middle East |
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Terms : |
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Selling : |
30-50%
by Advance TT Basis and remaining by Irrecoverable LC/DA basis |
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Purchasing : |
Credit
upto 30 days |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
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Salwar Kameez, Lahenga
choli, Sarees, Kidswear, Kurtas |
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Saree 500-600
per month |
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Suit 1000
per month |
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Lahenga 250 per month |
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GENERAL INFORMATION
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Customers : |
Wholesalers
& Retailers |
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No. of Employees : |
Office
10, Factory 140. Total 150 |
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Bankers : |
East of Kailesh New Delhi |
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Banking Relations : |
Satisfactory |
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Auditors : |
NA |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.
2.500 millons |
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Borrowed : |
-- |
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Total : |
Rs.
2.500 millons |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
11.600 |
98.000 |
82.000 |
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LOCAL AGENCY FURTHER INFORMATION
When it is women’s wear, think of the exotic. God created women and he created beautiful clothes for them. Pretty women in pretty dresses walking prettily... There is something about attire that has enticed women throughout and continues to do so. A dress reveals the wearer’s moods, thoughts and orientations. The Indian woman has a lot to choose from where the range of clothes is concerned. To her we offer garments which best complement her personality.
|
Name |
: |
AHAD INTERNATIONAL |
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Proprietor |
: |
Md. Saleem Khan |
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Production Capacity |
: |
16,000 pcs per month |
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Plant & Machinery |
: |
Stiching |
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Machine Embroidery |
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Machine of Danim Wash |
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Machine of Acid Wash |
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Hand Embroidey |
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Dry-Clean Machine (FABCARE)
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Products |
: |
Ladies Suits with machine
embroidery and hand embroidery. (Indian Ethnic, Lehanga Saree Suit, Formal,
Semi-Formal, Home Furnishing, Danim Suits, Bags, etc.) |
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Specialist |
: |
All Kinds of Embroidery and
Fabrication. We have Talented and Expert Designers for any kind of Embroidery
and Designs. |
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Market |
: |
U.K., Indian Overseas. |
India exports 41% (US$ 1988 million)
garments to USA, 52% (US$ 2576 million) to European Union, 3% (US$ 179 million)
to Canada and 4 % to Non-quota countries. The major countries in European Union
are United Kingdom (US$ 588 million), France (US$ 532 million), Germany (508
million), Benelux (316 million), Italy US$ 214 million, Spain (US$ 149
million), Denmark (US$ 117 million), Sweden (US$ 67 million). The major
non-quota countries are UAE (US$ 43.6 million), Saudi Arabia (US$ 304 million),
Switzerland (US$ 21.8 million), Norway (US$ 15.7 million), Japan (US$US$ 18.8
million), Mexico (US$ 15.6 million), Brazil (US$ 5.58 million), Australia (US$
5 million), Chile (US$ 4.9 million) and South Africa (US$ 4.8 million).
India's top items of exports are Ladies
Blouses (US$ 909 million), T-shirts (US$ 882 million), Gents Shirts (US$ 570
million), Trousers and Shorts (US$503 million), Ladies Dresses (US$ 289
million), Night Dresses (US$ 289 million), Sweater/Pullovers/Cardigans (US$ 255
million), Skirts (US$ 244 million), Overcoats, Coats, Blazers (US$ 222 million)
and Babies Garments (US$ 180 million).
The Unit Value Realization in the year
2003-04 has gone up by 7.81% from US$ 3.71 per piece to US$ 4.00 per piece.
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COUNTRY |
2002-03 |
2003-04 |
% INCREASE/DECREASE |
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|
[Value USD Million] |
[Value USD Million] |
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USA |
2107.50 |
1988.10 |
-5.67 |
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EUROPE |
2177.90 |
2576.90 |
+18.32 |
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CANADA |
202.40 |
179.20 |
-11.42 |
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TOTAL
RESTRICTED COUNTRIES |
4487.80 |
4744.20 |
+5.71 |
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TOTAL
OBA COUNTRIES |
282.20 |
206.70 |
-26.75 |
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GRAND
TOTAL |
4770.00 |
4950.90 |
+3.79 |
VERTICAL INTEGRATION : India's textile industry is truly vertically
integrated from raw material to finished product, including fiber production,
spinning, knitting and weaving, and apparel manufacture. Business and cultural
linkages with neighboring countries Bangladesh, Sri Lanka, and Nepal, Thailand,
Myanmar, PR China provide a platform for sourcing from them as well.
PRODUCTION VARIETY : Raw material production includes cotton,
silk, wool, linen and manmade fibers such as polyester, viscose, acrylic, and
polypropylene. Indian companies have built global scale even in non-traditional
areas.
Fabric production includes fine dress fabrics, shirting, fabrics for
trousers/shorts worsted suiting , denim, fleece, jersey, flat/woolen knits,
technical fabrics, and more.
Apparel production includes active sportswear, outerwear, foundation garments,
suits, socks, infantwear etc.
Production of made-ups includes a wide variety of bed, bath, and table linens,
kitchen accessories etc.
LABOR FORCE : India's textile and apparel industry directly
and indirectly employs 35 million people. The country has an abundant, low-cost
base of labor which has long-term sustainability and very high skill in
fabric-and garment-making.
CAPACITY : India's industry has consistently remained flexible
in terms of production quantity and lead time and thus presents the possibility
of producing quantities as low as a few hundred pieces.
A large base of European and American customers are already served from India,
with almost 35% of apparel exports headed to EU.
OPERATING ENVIRONMENT : The textile and apparel industry is an
important one to India, contributing 1.6% of industrial production and 30 % of
total exports.
Import duties on capital equipment are low (the majority of the capital
equipment used by the apparel industry, like sewing machines, can be imported
at 5% basic customs duty), fabrics can be imported duty-free if made up into
garments and re-exported, and import duties on fabrics and other raw materials
are duty free for export production. The apparel industry can import duty free
specified trimmings and embellishments like Fasteners, Rivets, Garment Stay,
Laces, Badges, Sewing Thread, Sequin, Tape & others for export production.
India has a structured, multi-tiered administrative, political and legal system
that would be familiar in nature to European and American investors.
The India exporters have given main
emphasis on new fabrics and presentations like Romantic line meant for top
designer, which is not available in budget stores. There is an introduction of
new fabrics like poly satin, viscose, ply chiffon, heavier georgette, tie and
dye fabrics, chifley fabrics, embroidery and hand knitted garments.
The exporters have chosen to revisit the
prints and have taken those floral prints where flowers of other countries have
taken place in place of Indian flowers.
The exporters have been using various
kinds of washes like natural wash, vintage wash and laser wash to give a new
look to the garments. Hippie/frills and lot of sparkling bead works have also
been demonstrated. Geometric designs have also been projected as per the new
fashion trends. Some exhibitors have made their collection by using lycra and
have presented with different kinds of embroidery to reach high fashion community.
The uniqueness of Indian garment exports
is quick turn-around time, factory compliance, factory personally looked after
by Presidents/CEOs of the company and undertaking even small size orders.
Trade reference – Local:
Fabric
Supplier, 21 Moti Bazar, 1st Floor, New Delhi (Shri Ram Textiles)
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.45.30 |
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UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
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 |
NO |
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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 |
|
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
|
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 |
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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 |
|
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 |