MIRA INFORM REPORT
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Report Date : |
13th May, 2006 |
IDENTIFICATION DETAILS
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Name : |
M IMRAN TRADING COMPANY |
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Registered Office : |
2158/1,
Main Bazar, Turkmar Gate, New Delhi-110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
1998 |
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Legal Form : |
A
Sole Proprietorship Concern |
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Line of Business : |
Manufacturer
& Exporter of Fashion Jewellery, Handicrafts & Home Furnishing
Products |
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 and respectable businessman. Trade relations are
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/ Factory : |
2158/1,
Main Bazar, Turkmar Gate, New Delhi-110006 |
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Tel. No.: |
91-11-23288641 |
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Mobile No.: |
91-11-20049762/9818557483 |
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Fax No.: |
91-11-23288641 |
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E-Mail : |
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Area : |
1400
Sq. ft approx |
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Location : |
Owned
(Commercial) |
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SOLE PROPRIETOR
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Name : |
Mr.
Mohammad Ghufran |
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Designation : |
Proprietor |
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Date of Birth/Age : |
32
years |
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Experience : |
8
years |
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Mobile No.: |
91-11-20049762 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer
& Exporter of Fashion Jewellery, Handicrafts & Home Furnishing
Products |
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Products : |
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Exports to : |
Middle
East, Malaysia, Turkey, France & other European countries |
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Terms : |
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Selling : |
100%
TT in Advance or 50% Advance and remaining on irrecoverable LC basis |
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Purchasing : |
Credit
60 days |
GENERAL INFORMATION
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No. of Employees : |
22 |
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Bankers : |
Bank
of Maharashtra Delhi-110006 |
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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.
1.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.
1.500 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Networth
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1.500 |
1.325 |
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Variation
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13.21% |
- |
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Turnover
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6.000 |
5.500 |
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Variation
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9.09% |
- |
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Total Income
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6.000 |
5.500 |
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Variation
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9.09% |
- |
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Profit Before Tax
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0.255 |
0.220 |
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Variation
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15.91% |
- |
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Profit After Tax
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0.225 |
0.150 |
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Variation
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50% |
- |
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Projected
Turnover for the year March 2006 shall be Rs. 7.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
PAT / Total Income
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(%)
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3.75 |
2.73 |
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Net Profit Margin
(PBT/Sales) |
(%) |
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4.25 |
4.00 |
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Return on Investment (ROI)
(PBT/Networth) |
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15.00 |
11.32 |
LOCAL AGENCY FURTHER INFORMATION
About Us
M. Imran Trading Company was incepted in 1998 and specializes in dealing Precious
& Semi precious
Stones, Crystals, Tassels & Trimmings, all kinds of handbags,
beads, belts, ladies garments, slippers, sequined embroidery materials,
handicrafts, jewelry, fashion accessories, imported beads etc.
Equipped with a sound infrastructure and well trained manpower,
the company also undertakes
customized orders to
manufacture products as per client's designs, requirements and specifications.
Our Products
- Precious & Semi precious Stones
- Crystals
- Tassels & Trimmings
- All kinds of Handbags
- Beads
- Belts
- Ladies Garments
- Slippers
- Sequined Embroidery Materials
- Handicrafts
- Jewelry
- Fashion accessories
- Imported beads etc.
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Our Strength
With three state of the art production units spread over a huge area, we at M.
Imran specialize in manufacturing an exquisite range of products that have won
plaudits the world over on the strength of the workmanship, designs and styles.
Our craftsmen use their dexterous hands and their years of experience and expertise to craft products
that are class apart in terms of their flawless quality and designs.
In this they are aided by our team of designers who design products keeping in the latest fashion trends as well the requirements of our clients.
Industry
Overview:
The handicrafts industry is one of the largest employers
of economically weaker sections of the society in the interiors of the country
and also one of the largest foreign exchange earner. While inaugurating the
20th Indian Handicrafts & Gifts Fair (IHGF) at Pragati Maidan in the
Capital today, he observed that the handicrafts sector has tremendous potential
in the world market. The Minister informed that export of handicrafts in
2004-05 crossed Rs.13032.70 crores that is 2.9 billion US dollars registering
growth of 24.53% in rupee term and 29.07% in dollar term. The growth in the
current year is also impressive witnessing achievement of 16.01% in the month
of September, 2005 in dollar terms. The
world trade in handicrafts is of the order of US $ 235 billion but India’s
share in the same is only 1.6%. Most of these buyers are from countries like
USA, Germany, UK, France, Switzerland, Denmark, Italy, Spain, Greece, Portugal,
Cyprus, Israel, Hong Kong, Japan, Australia, New Zealand, Saudi Arabia, and
South Africa
Textile Policy of India was
announced in year 2000 for 2000 to 2004 term. The policy is to be revised in
year 2004. The policy was announced to help the textile industry attain a
global standing and equip the Industry to withstand pressures of import
penetration. Another objective was to strengthen the traditional knowledge,
skills and capabilities of our weavers and craftspeople.
The major thrust areas identified were Enhancement of Productivity, Quality
Consciousness and integrated human resource development. Government ensured to
play a proactive role in promoting and facilitating adoption of IT in the
textile industry and trade. Export Promotion Councils, silk boards and other
such organizations will be restructures to suit the present status of industry
and exports.
With the new Union
Commerce and Industry Minister taking charge the new Exim Policy will be
announced by the beginning of July2004. The highlights of the Exim Policy
2002-07 pertaining to the Textile Industry are:
- Sample fabrics permitted duty free within the 3% limit for
trimmings and embellishments.
- 10% variation in GSM be allowed for fabrics under Advance Licence.
- Additional items such as zip fasteners, inlay cards, eyelets,
rivets, eyes, toggles, velcro tape, cord and cord stopper included in
input output norms.
- Duty Entitlement Passbook (DEPB) rates for all kinds of blended
fabrics permitted. Such blended fabrics to have the lowest rate as
applicable to different constituent fabrics.
India-India
is on a fierce race to become a more dominant player in the U.S. home textiles
industry post-2004, but some experts say it may need to do more to get there.
India is especially strong in the terry
towel and bed linen segments. In terry towels, Welspun, the country's leading
manufacturer and exporter, is set to become Asia's largest within the next
year.
Bedding is witnessing a lot of activity,
with a number of home textiles manufacturers expanding into bed linen
categories.
Most of the growth in the Hometech sector is expected to focus on
nonwoven textiles and fibrefill rather than on woven and knitted fabrics.
Spunbonded constructions in particular can be expected to play a significant
role in the evolution of carpet backings, mattress tickings and furniture
linings although there will continue to be an important role for needlepunched
fabrics in heavier constructions.
As a result, fabric consumption is forecast to rise by only around 1%
per annum, while growth rates for all other textile types average almost 6% pa.
As is already the case in many areas, significant and increasing use can
be expected to be made of recycled textiles and other waste materials in this
sector.
Contact Information:
Contact
Person: Mr. Mohammad Ghufran
Designation: Proprietor
Address: 2158/1, Main Bazar, Turkman Gate, Delhi-110006, India
Tel.
No.: 91-11-23288641
Mobile
No.: 91-11-20049762
Year
Established: 1986
Products
Exporting: Precious & Semi Precious
Stones, Crystals, Tassels 7 Trimming, All kings of Handbags, Beads, Belts,
Ladies Garments, Slippers, Sequined Embroidery Materials, Handicrafts,
Jewellery, Fashion Accessories, Imported beads
Products
Manufacturing: Artificial fashion
jewellery, Ladies garments, all kinds of handicrafts, beads
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 |
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 |
|
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 |