MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SUN BEAM SHAWLS |
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Registered Office : |
G – 65, Basement, Lajpat Nagar – 1, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1965 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Suppliers of Silk, Woolen Fabrics, Pashmina, Stools,
Scarves, Shawls, Saris and Carpets. |
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 12500 |
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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. His 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 : |
G – 65, Basement, Lajpat Nagar – 1, |
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Tel. No.: |
91-11-29818063 |
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Fax No.: |
91-11-29810419 |
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E-Mail : |
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Area : |
1000sq.fts (approx) |
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Location : |
Owned |
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Factory 1 : |
Mughal Masjid (Hawal), |
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Tel. No.: |
91-194-2424140 |
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Fax No.: |
91-194-2422956 |
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Area : |
180sq.mtrs |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. M.M. Shah |
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Designation : |
Proprietor |
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Address : |
76 Years |
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Date of Birth/Age : |
45 Years |
KEY EXECUTIVES
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Name : |
Mr. Mukhtar A Shah |
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Designation : |
Chief Executive Officer |
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Mobile No. : |
91-9810038718 / 9868286589 |
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Name : |
Mr. Shezan Shah |
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Designation : |
Look after Sales and Alc’s |
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Address : |
91-9868286589 / 9868286561 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Suppliers of Silk, Woollen Fabrics, Pashmina, Stools, Scarves, Shawls, Saris and Carpets. |
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Products : |
˛ Dupions Silk ˛ Jacquard Shawls ˛ Stoles ˛ Scarves ˛ Pashmina ˛ Silk and other Textiles ˛ Readymade Garments ˛ Ladies Wear ˛ Handicrafts ˛ Chain Stitch Carpets ˛ Handloom Products ˛ Wool ˛
Cashmere ˛ Silk Wool ˛ Running Material ˛ Running Fabrics ˛ Bags ˛ Beaded Bags ˛ Bed Covers ˛ Table Cover ˛ Printed Shawls ˛ Mufflers ˛ Nepali Shawls ˛ Curtains ˛ Home Furnishings ˛ Reversibe and Check Shawls ˛ Strip Stoles ˛
Embroideries |
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Exports : |
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Countries : |
UAE, |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
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TT and L/C Basis |
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Purchasing : |
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TT Basis |
GENERAL INFORMATION
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No. of Employees : |
+ 90 |
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Bankers : |
˛ The Jammu & Kashmir Bank Limited ˛
Bank of ˛
HDFC Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mushtaq and Company Chartered Accountants |
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Associates: |
Mughal Art Traders Year of Establishment: 1980 Legal Status: Partnership Name of Partners: Mr. Md M Shah
Mr. Mukhtar Shah and his brother Line of Business: Exporters of Stools Scarves, Shawls, Silk and
Woollen Fabris,
Pashimina Turnover: Rs.27.500 millions approx as on <arch 31, 2006 (as
claimed by the subject) |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.3.500 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 |
NA |
3.500 |
3.200 |
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Profit/Loss for the year |
20.000 |
16.000 |
12.500 |
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Profit / Loss Before Tax |
NA |
0.920 |
0.625 |
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Provision for Taxation |
NA |
0.304 |
0.187 |
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Profit (Loss) After Tax |
NA |
0.616 |
0.438 |
Note: The subject is a Non-Incorporated business entity and thus not obliged to
file any information on itself with any Official Authority (Registrar of
Company) open for public inspection. The above-mentioned information is
obtained directly from the subject itself but the subject could not
substantiate it by providing audited financial statements like Balance Sheet
and Profit & Loss A/c.
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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3.85 |
3.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.75 |
5.00 |
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Return on Investment (ROI) (PBT/Networth) |
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17.60 |
13.67 |
LOCAL AGENCY FURTHER INFORMATION
Business dealings
are permissible. The subject is a
Manufacturer of Silk & Woollen Fabrics, Pashmina, Stools, Scarves, Shawls, Sarees
and Carpets etc., the subject reportedly supplies fabrics and raw materials to
other exporters in
Subject reportedly exports Pashmina Shawls, Scarves, Carpets and other
products through their sister Company to UAE,
profile
Subject is a renowned
Indian manufacturer, exporter and supplier of Silk and Woolen Fabrics, Pashmina
Stools, Scarves, Shawls, Sarees,Carpets, etc. It is the marketing organisation
for the group of weavers who are weaving the artistic Pashmina fabric in the
The organisation
offers a large variety of Pashmina Silk Shawls, Stoles (Small & large) and
Scarves in variety of colours and sizes.
AS PER WEBSITE:
Subject is a renowned Indian manufacturer, exporter and supplier of Silk
and Woolen Fabrics, Pashmina Stoles, Scarves, Shawls, Sarees, Carpets, etc.
They serve as marketing organizers for the group of weavers who are into
weaving the artistic Pashmina fabric in
Their organization offers a
large variety of Pashmina Silk Shawls, Stoles (Small & large) and Scarves
in variety of colors and sizes. Their series of Pashmina products are worldwide
famous especially in countries - Europe,
Pashmina's history
Over 400 years ago, the
Persian moughals visited Kashmir and were delighted to witness the nature's
bounty and inhabitants of
How
Pashmina is perfected
This shawl is hand spun in
the same way as it has been going on for the centuries ago. It is woven from
the soft, fine wool sheared from the neck and belly of the Himalayan goat
called Hircus, which lives at high altitudes. The Pashmina is hand-gathered,
de-haired, stored and combed by nomadic herders. Each Shawl is hand woven on
handlooms over a silk wrap to strengthen the fabric. Each piece is then dyed in
an open vat individually. Embroidery, printing, etc. are done by hand.
Over the past few decades
their company 'Sun Beam Shawls' has carved out a niche for itself as a quality Pashmina Shawls
supplier in export markets of Europe, Italy, France, UAE, etc. at very
attractive prices. Their products are also much in demand across the domestic
market. It invites trade inquiries from all the concerned parties who wish to
deal in the business categories their company deals in. They assure timely
delivery and quality service to all their customers.
Since last 40 years, they are offering premium quality and diverse range of
products ranging from Dupions
Silk, Jacquard Shawls, Stoles, Scarves, Pashmina, Silk & other Textiles,
Readymade Garments, Ladies Wear, Handicrafts, Chain Stitch Carpets, Handloom
products, Wool, Cashmere Angora, Silk Wool, Running Material, Running Fabrics,
Bags, Beaded Bags, Bed covers, Table Cover, Printed Shawls, Mufflers, Nepali
Shawls, Curtains, Home Furnishings, Reversible & Check Shawls, Strip
Stoles, Embroideries to much more. Their quality work with fine
combination of beauty and style is the first choice of their customers and also
followed by their peers in the same field.
Providing best quality to their valuable clients is their aim and they
constantly try to improve on
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.53 |
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1 |
Rs.82.06 |
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Euro |
1 |
Rs.55.35 |
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 |
NO |
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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 |
YES |
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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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