MIRA
INFORM REPORT
|
Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GOODLUCK
HAIRS |
|
|
|
|
Registered Office : |
Old
No. 55 / New No. 8, Parthasarathi Peltai Street, Teynampet, Chennai – 600086,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
2006 |
|
|
|
|
Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Manufacturing, Exporting and Importing of wigs, hair pieces,
hair extensions, men's toupees, and any other human hair products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
5000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Usually
correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Registered Office : |
Old
No. 55 / New No. 8, Parthasarathi Peltai Street, Teynampet, Chennai – 600086,
Tamilnadu, India |
|
Tel. No.: |
91-44-24334471 |
|
Mobile No.: |
91-9840389992 |
|
Fax No.: |
91-44-24334471 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located
at Avadi, Chennai |
PARTNERS
|
Name : |
Mr. M
Easwari Prasad |
|
Designation : |
Managing
Partner |
|
|
|
|
Name : |
Mrs. M
Easwari Prasad |
|
Designation : |
Partner
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporting and Importing of wigs, hair pieces,
hair extensions, men's toupees, and any other human hair products. |
|
|
|
|
Products : |
Remy Single Drawn Human Hair Non
Remy Human Hair Wefted Hair – Hand / Machine |
|
|
|
|
Exports to : |
All of
Europe, USA, Hong Kong and Netherlands
|
|
|
|
|
Imports from : |
SAARC
Countries |
GENERAL
INFORMATION
|
No. of Employees : |
22 |
|
|
|
|
Bankers : |
Andhra
Bank Limited Teynampet Chennai
|
|
|
|
|
Banking Relations : |
Satisfactory
|
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
1.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
1.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
10.000 approx |
|
|
|
|
|
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Good Luck hairs was established in the year 2000. Since then it has grown as a major
processor and exporter in natural human hair in India. They export and
process all types of natural human hair like Remy, non Remy in single
drawn and double drawn and also items like hand tied wefts, micro wefts,
machine wefts. They have clients in different countries across the globe. They
give top priority for their customers satisfaction. They are proud on their
success of supplying high quality raw natural human hair over the past years.
Because, they stand by Commitment, Quality and
Service to all their
customers. Feel free to contact them with the requirements of any quality, size
and quantity. They accept order of all sizes, large and small quantity.
They
have earlier from 2000 supplied reputed Indian Exporters with hair. In order to
expand their business they have started export to overseas buyers from 2006.
They ensure consistent supply of quality products at the most competitive
process. They believe in having long term business relationship with their
buyers.
Profile
They are the Company which is into the business of Promoting of Product
Human Hair for producing the products like Wigs – Toupees – Hair
extension - Hair pieces – and other several products spread over
the world
They have supplied to reputed Indian Exporters for the above product. In order
to expand their business they have started direct export to the Overseas
Buyers. They ensure consistent supply of Quality product at the most
competitive prices.
They believe in having long term business relationship with the Company.
they look forward to have a long and mutually beneficial relationship with the
business house.
Good
Luck Hair processes the best quality 100% natural Indian human hair. In
their process hair is cleaned and washed with shampoo; sun dried, hackled,
combed, sorted, and packed in cardboard boxes for export.
They Maintain Quality Control for the excellent out come of the finished
products. They process and export 100% Indian Remy and NonRemy in single and
double drawn types in all colors and sizes which is been used in the manufacturing of wigs, hair
pieces, hair extensions, men's toupees, and any other human hair products.
Based on their world wide customers requirement they supply colored hair,
bleached hair, machine, hand and micro wefts etc.
Classify
the hairs as
· Remy Single Drawn Human Hair
· Wefted Hair –
Hand / Machine
Remy Single Drawn Human Hair: Remy single drawn human hair is hackled,
trimmed on one side and kept in one direction i.e all the roots will be at one
end of the processed bundle. This high quality process allows very small
percentage of hair to be outside the specified length of the bundle. This
processing also keeps the hair from tangling after it is bleached or dyed. They
are specialized in processing and exporting high quality Remy single drawn
hair.
TEXTURE: Natural Straight, Curly and Wavy
COLOURS: Natural Black, Brown, White and Grey
SIZE: From 8" to 40" of Length
PROCESS: Hackled, Combed, Sorted washed in Shampoo, Sun dried.
b)
REMY DOUBLE DRAWN HUMAN HAIR: Remy double drawn human hair is -hackled and trimmed on both sides and
will have uniform sizes.
TEXTURE: Natural Straight
COLOURS: Natural Black, Brow, White and Grey
SIZE: From 8" to 40"
PROCESS: Hackled, Combed, Sorted washed in Detergents, Shampoo, Sun
dried.
2. NON
REMY DOUBLE DRAWN HUMAN HAIR: The head and tail of the hair is mixed in
natural non remy human hair. This hair is collected from comb waste which is
collected from houses in villages and temple hair offerings.
QUALITY: Natural Straight Only
COLOURS: Natural Black, Grey and White Only
SIZES: From 6" to 28" of Length
PROCESS:- Hackled, Combed, Sorted washed in
Detergents, Shampoo, Sun dried.
3. WEFTS – HAND –
MACHINE
Machine
wefts, hand wefts and Micro wefts are available.
MADE ACCORDING TO OUR CUSTOMERS REQUIREMENTS.
Quality
The
human hair is collected directly from the temples where the devotees sacrifice
their hair.
The
hair that is collected is been separated according to the
sizes by skilled personals .And then washed with natural
herbs , and shampoos dried and then hackled and then
separated according to the customers required size and packed to
export
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.44.17 |
|
UK
Pound |
1 |
Rs.86.10 |
|
Euro |
1 |
Rs.57.26 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
|
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
|
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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|