MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUPERB IMPEX |
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Registered Office : |
P-95, Street No. 6, Shanker Nagar, Extension - I, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.01.2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter and Manufacturer of Jewellery and Handicrafts |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 800 |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern. It has yet to establish track. No payment
records are available. The concern can be considered for small business dealings on safe and
secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
P-95, Street No. 6, Shanker Nagar, Extension - I, |
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Tel. No.: |
91-11-22097796 |
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Mobile No.: |
91-9871211935 |
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Fax No.: |
91-11-22097796 |
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E-Mail : |
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Website : |
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Area : |
765 sq. ft. [Owned] |
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Factory 1 : |
Shukar Bazar Gali, Loni – II, |
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Area : |
80 sq. mtr. [Owned] |
SOLE PROPRIETOR
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Name : |
Mr. Sumit Verma |
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Designation : |
Proprietor [Chief Executive Officer] |
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Address : |
P-95, Street No. 6, Shanker Nagar, Extension - I, |
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Date of Birth/Age : |
21 Years |
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Qualification : |
Under Graduate |
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Experience : |
2 Years |
BUSINESS DETAILS
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Line of Business : |
Exporter and Manufacturer of Jewellery and Handicrafts |
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Products : |
Jewellary and Handicrafts
Fashion Accessories : Bags, Scarves |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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No. of Employees : |
7 [In Office : 2 and In Factory : 5] |
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Bankers : |
Axis Bank, Krishna Nagar, |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Verma Art Jewellery
Started in : 1992 Address : P-95, Street No. 6, Shanker Nagar, Extension - I, Banker : State Bank of Activities : Exporter and Manufacturer of Jewellery and Handicrafts Sales Turnover : 0.500 Million Employees : 8 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.200 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.200 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
Summarised
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Particular |
31.03.2006 Rs in Millions |
31.03.2007 Rs In mIllions |
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Share Capital |
0.383 |
0.423 |
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Fixed Assets [Net] |
0.028 |
0.022 |
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Inventories |
0.322 |
0.351 |
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Sundry Debtors |
0.016 |
0.030 |
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Cash and Bank Balance |
0.012 |
0.020 |
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Sales Turnover |
3.816 |
3.048 |
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Profit After Tax |
0.109 |
0.012 |
Expected Sales (2007-08) : Rs.10.000 Millions in both the companies
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference
Shivam Handicrafts
Profile
Subject
is a manufacturing concern supplying top quality fashion accessories to Clients
all over the globe. Working overtime with current and future trends, their
product range is developed to feed the ever-growing international demand of
fashion accessories. Keeping seasons and occasions always as a factor, their
in-house designers and master craftsmen have created this catalogue of costume
jewelry and accessories as bags, hair bands and scarves.
They
create wide range of glass beaded jewellery, wooden jewellery, horn beaded,
bone beaded jewellery, metal and brass jewellery available in variety of
colors, designs and shapes, according to the International trend and optimum
cost, within promised delivery schedules. These are all handcrafted jewellery
and bracelets in fascinating stone beads, vibrant colors, fashion accessories
for casual and formal wear. These fashion jewellery products are made from
quality materials
Within
a year of starting business, Superb Impex has grown rapidly in terms of Clients
and Production and has extended its arms to the South East and the giant
markets of
Their
jewelry range comprise of costume and fashion necklaces of all kinds,
bracelets, bangles in a host of designs and a multitude of earrings. Adding to
the fashion necessity of the new generation, all kind of worked upon bags form
a major part of their extensive catalogue, displayed in a manner for the most
comfortable view to the buyer.
Their
costume necklaces are made with a designer assortment of plain and fancy glass
beads, wooden beads, bone beads, horn beads, shell, metal beads, ceramic beads,
bugle beads, kashmiri beads, clay beads, lac beads etc. The Bangles include a
variety of designs in painted and carved wood bangles, bone bangles, MOP
bangles, brass bangles, resin bangles and the like.
Their
bags and Belts are made in leather, suede, satin, velvet, crochet, sequins,
macramé, jute etc. coupled with zardozi work, work in beads and buttons of
wood, glass, shell, bone, cut-glass, mirror work and the like.
Superb
Impex gives special emphasis to high standards of work environment to their
craftsmen in their production unit.
Fashion Necklaces
Giving the fashion industry an element of nature, fashion necklaces
in their catalogue are of materials such as wood, horn, bone, shell, but also
the man made chemical resin and a mix of
everything.
Bracelets
Choosing the right bracelet is intrinsic to the completion of a
woman’s adornment. Their Range includes bracelets made with glass beads, bone,
resin complemented with a variety of metal embellishments, to create beautiful
designs.
Earrings
Their designer earrings
their made with a gamut of charming glass beads, seed beads, carved bone beads,
metal beads and the like. , fused with embellishments of all sorts and
completed carefully and perfectly in sparkling, mat, or an antique
finish.
Bangles
They boast of a very trendy, elaborate, and up to-date collection
of designs in Bangles. Their comprehensive range includes extremely
well-finished Resin Bangles, painted and carved wood bangles, bangles in Brass,
Bone, and Mother of Pearl as well metal cuffs in all
finishes
Fashion Accessories
Their bags, hair bands, belts are made in leather, suede, satin,
velvet, crochet, sequins, macramé, jute etc. coupled with zardozi work, work in
beads and buttons of wood, glass, shell, bone, cut-glass, mirror work and the
like fused with embellishments of all sorts and completed carefully and
perfectly in sparkling, mat, or an antique finish.
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.40.45 |
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1 |
Rs.82.70 |
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Euro |
1 |
Rs.55.94 |
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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