MIRA INFORM REPORT
|
Report Date : |
04.01.2007 |
IDENTIFICATION DETAILS
|
Name : |
D
WAVE INTERNATIONAL |
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|
|
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Registered Office : |
S-523,
School Block-I , Shakarpur, Delhi -
110 092 |
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Country ; |
India |
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Financials (as on) : |
31.03.2006 |
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Year / Date of Incorporation
: |
2005 |
|
|
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Legal Form : |
Sole Proprietorship
Concern |
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|
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Line of Business : |
Manufacturers
of Fashion Bags, Scarves and Accessories |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
USD 8000 |
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|
|
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Status : |
New Concern |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a new concern and yet to establish itself, Proprietor is reported as
experienced businessman. His trade relations are reported as fair. Business
is active. Payments are usually correct and as per commitments. The
Concern can be considered for small business dealings with a slight caution
initially. |
LOCATIONS
|
Registered Office : |
S-523,
School Block – I, Shakarpur, Delhi - 110 092 |
|
Tel. No.: |
91-11-22481697,
32419922 |
|
Fax No.: |
91-11-2248
3595 |
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Mobile No.: |
91-9810212299 |
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E-Mail : |
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Website : |
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Area : |
2,500
Sq. ft. |
|
Location : |
Owned
(Commercial) |
SOLE PROPRIETOR
|
Name : |
Yogender
Pal Singh |
|
Designation : |
Sole
Proprietor |
|
Address : |
S-523,
School Block –1, Near Jain Mandir, Shakarpur New Delhi – 110 092, Delhi
(India) |
|
Tel. No.: |
91-11-65979762 |
|
Mobile No.: |
91-9810212299 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Fashion Bags, Scarves and Accessories |
|
|
|
|
Products : |
Fashion
Bags, Scarves, Stoles, Bandanas, Pareos, Made Ups and all fashion accessories |
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|
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Exports to : |
USA,
Europe and Middle East countries. |
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|
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Terms : |
|
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Selling : |
CAD
and Credit: 15 days |
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|
|
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Purchasing : |
CAD
basis |
GENERAL INFORMATION
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No. of Employees : |
25 |
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|
|
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Bankers : |
Ř
State Bank of India,
Janpath, New Delhi-110001, India |
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Banking Relations : |
No
Facility |
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.
2.000 Millions |
|
Borrowed : |
0.000 |
|
Total : |
Rs.
2.000 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 (Projected) |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
10.000 |
7.000 |
4.800 |
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|
|
|
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Profit/Loss for the year |
NA |
0.270 |
0.156 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
3.85
|
3.25 |
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|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.85
|
3.25 |
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|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.13
|
0.08 |
LOCAL AGENCY FURTHER INFORMATION
The subject is engaged in
the business of Manufacturers of Fashion bags, Scarves, Stoles, Bandanas,
Paroes, Made Ups and all fashion accessories
Subject
does not export directly and supplying their finished goods to selling agents
for the export market to USA, mainly.
Subject
does not import and purchases locally.
Website Details :
Subject has an international appeal for all its products like Fashion Bags and Accessories. They are
one of the rarest companies that have won the hearts of millions of fashion
loving people within a short span of time. Though a new entrant in the
manufacture and export of Fashion Bags
& Accessories, they have the most modern machinery and
professionally competent designers to bring about a complete range of fashion
bags & accessories. Their market expands to vast region crossing oceans to
USA, Europe and Middle-East countries.
Specialists In
They provide all range of products to their customers according to their
requirements. No doubt they are the best service provider and no one can
challenge our infrastructure basis. They are having a number of skilled
designers to meet demands. They are in the field of fashion accessories like fashion bags, scarves, stoles, made-ups
and other accessories according to buyers' orders. They produce different
lovely fashion bags & accessories by machine as well as by hand. Hand made fashion accessories have a competitive
edge over machine made items in terms of their variety, originality and
exquisiteness.
Quality
Their products go through stringent quality control, resulting in regular
admiration and appreciation by their conscious clients. Their team of motivated
professionals strive assiduously to produce the best quality designer items in
time. They have our own looms to create samples with new ideas.
Their Goal
Their main mottos are to provide services in the field of exporting as well as
products with a genuine price, quality and time factor which attracts the buyers
in large numbers. They rely on good products and good service in order to win
the trust of the clients.
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 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.44.33 |
|
UK
Pound |
1 |
Rs.87.49 |
|
Euro |
1 |
Rs.58.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
|
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 |