MIRA
INFORM REPORT
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Report Date : |
20.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MY KID INDIA |
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Registered Office : |
D- Block, Ratnangi Apartments,
10/2, Soundar Rajan St., T Nagar, Chennai – 600017, Tamilnadu India. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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IEC No.: |
0404000754 |
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Legal Form : |
Partnership concern with an unlimited liability of the
partners. |
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Line of Business : |
Exporters and Importer of Human Hair, Engineering Casting its used in
a industry. Dealers of Himalaya Herbal Products for Central Chennai |
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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Maximum Credit Limit : |
USD 10000 |
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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. |
LOCATIONS
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Registered Office : |
D- Block, Ratnangi Apartments, 10/2, Soundar Rajan St. T
Nagar, Chennai – 600017, Tamilnadu India
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Tel. No.: |
91-44-42025259/24352259 |
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Mobile No.: |
91-9840471919 |
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Fax No.: |
91-44-42025260 |
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E-Mail : |
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Website : |
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Area : |
1700 sq. Ft |
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Location: |
Rental |
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Factory 1 : |
R.K.Nagr
Kodungaiyur, Chennai 600118 |
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Area : |
Ground Floor 750 Sq. ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mohamad Faisi |
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Designation : |
Managing Partner |
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Date of Birth/Age : |
33 years |
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Qualification : |
B.Sc |
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Name : |
Mrs. Parveen M Faisi |
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Designation : |
Non working Partner |
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Mobile No.: |
91-9840771919 |
SINESS DETAILS
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Line of Business : |
Exporters and Importer of Human Hair, Engineering Casting its used in
a industry. Dealers of Himalaya Herbal Products for Central Chennai |
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Products : |
Single Drawn Human Hair, Normal
Weft Human Hair, Micro Weft Human Hair, Machine Weft Human Hair, Micro Front
Lace Human Hair, Bleached & Dyed Human Hair |
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Exports : |
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Products : |
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Countries : |
USA, Germany, Sweden, Denmark,
Italy, France, U.A.E., Russia, New Zeland |
GENERAL
INFORMATION
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No. of Employees : |
19 People ( 14 Factory and 5 office ) |
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Bankers : |
Corporation Bank T Nagar, Chennai – 600017 |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Memberships : |
Federation of Indian Export Organization |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
N.A |
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Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
25.000 |
22.000 |
20.000 |
Expected Sales (2007-08) : Rs.30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Met Mr. A Mohamad Faisi of this firm. Now he is the managing partner of this firm. He is a young educated and dynamic man. He was previously employed in an aviation firm, where he and his friend learned about the aviation industry.
He is primarily engaged in the export of aviation accessories like conveyor like conveyor belts and other ground equipments to Africa. As soon as the requirements comes to him, he personally visits the country and the city to see his clients and bring down the specifications. He then orders the same with HAL Bangalore and producers the equipments which he exports.
He also deals in human hair. The office is situated in a very busy and central place in T Nagar and Mr. faisi seems to be a man of action.
There is no way to assess the financial strength of the firm.
AS PER WEBSITE
Established in 1985, My Kid India is one of the exporters and suppliers of diverse range of Indian Human Hair like Single Drawn Human Hair, Normal Weft (Zig Zag) Human Hair, Micro Weft Human Hair, Machine Weft Human Hair and Micro Front Lace Human Hair. The company is in the business of supplying Human Hair for the last two decades. Subject is a name to be reckoned with both in the domestic as well as international market. The company supplies the best quality rich Human Hair of required size and quantity with best competitive prices and timely delivery.
Process
The Human Hair supplied
by us first go through cleaning and sterilizing processes and is then tied in
single head bundles. Their team of highly experienced and professional staff
checks all the goods before shipment to remove any defect from the bundle.
Their quality rich products varies from 6 inches to 40 inches.
Product Range
The company has a
wide range of Human Hair premium products like:
Single Drawn Human Hair
Normal Weft Human Hair
Micro Weft Human Hair
Machine Weft Human Hair
Micro Front Lace Human Hair
The Specialization
The company specializes in supply of Bleached and Dyed Hair
in all international colors from 11b to 613b. They have a monthly production
capacity of ten metric tons of Human Hair collected from various parts of
India. The company also has Human Hair collection center all over India for
procuring raw materials.
Infrastructure
Subject has a well-versed infrastructure and manufacturing unit with well experienced professionals in Human Hair trade to monitor and check that the best and premium quality Human Hair is produced by our company to ensure 100% guaranteed supply.
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Company Profile
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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.41.67 |
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UK Pound |
1 |
Rs.83.41 |
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Euro |
1 |
Rs.56.61 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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
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/normal. |
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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