MIRA
INFORM REPORT
|
Report Date : |
17.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SANGEETA
CREATIONS |
|
|
|
|
Registered Office : |
106,
Joshi Building, 4th Floor, Narayan Dhuru Street, Mumbai – 400003,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Sole
Proprietory Concern. |
|
|
|
|
Line of Business : |
Manufacturer, exporter, supplier and trader of Scarves, Ties,
Uniform, Ghagra, Choli, Salwar Kameez, Beachwear, Stationery And Allied
Requisites. |
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 : |
|
|
|
|
|
Status : |
Small
concern |
|
|
|
|
Payment Behaviour : |
Unknown
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a very small concern, operated from residential premises. No
responsible person was available for a long-time. No trade relations are or
payment record behaviours are known. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions. No clean credit granted. |
LOCATIONS
|
Registered Office / Factory : |
106,
Joshi Building, 4th Floor, Narayan Dhuru Street, Mumbai – 400003,
Maharashtra, India |
|
Tel. No.: |
91-22-23415375 |
|
Mobile No.: |
91-9819046868
/ 9819046868 |
|
Fax No.: |
91-22-23427440 |
|
Website : |
|
|
Area : |
1000
sq. ft. |
|
Location : |
Owned
|
SOLE PROPRIETOR
|
Name : |
Ms.
Sangeeta Labhshanker Joshi |
|
Designation : |
Proprietress
|
|
Date of Birth/Age : |
35
Years |
|
Qualification : |
B.
Com. ; Fashion Design |
|
Experience : |
10
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter, supplier and trader of Scarves, Ties,
Uniform, Ghagra, Choli, Salwar Kameez, Beachwear, Stationery And Allied
Requisites. |
|
|
|
|
Products : |
·
Short
Kurtis ·
Ghagra
Choli
·
Salwar
Kameez ·
Tie ·
Uniform |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL
INFORMATION
|
Customers : |
Wholesalers
and End Users |
|
|
|
|
No. of Employees : |
6 |
|
|
|
|
Bankers : |
|
|
|
|
|
|
|
|
Banking Relations : |
Unknown
|
|
|
|
|
Auditors : |
Bafna
and Koria Associates Chartered
Accountants |
CAPITAL
STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Not
Available |
|
Borrowed : |
Not
Available |
|
Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
0.700 |
|
|
|
|
|
Expected
Sales for March 2007 Rs. 0.800 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Khanna and Brothers,
Jhaveri Branch, Mumbai – 400002
- Niraj Enterprises, Dahisar,
Mumbai – 400068
- Mr. Dalmia, Birla
Enterprises Limited, Kolkata
As per
website
Sangeeta
Creations, take pride in introducing their selves as one of the distinguished
manufacturers, exporters and suppliers of a fascinating range of Garments like
Short Kurtis, Ghagra Choli, Salwar Kameez, Tie and Uniform. They have rich
experience in national as well as international markets and that has enabled
them to comprehend the needs and tastes of their customers. They are committed
to work continuously towards achieving greater heights of success by exceeding
customers' requirements and expectations in terms of quality products and
services.
Team
They firmly
believe in sincere and hard work and are determined to scale new heights of
success by offering magnificently designed Women's wear. With the cooperation
of their dedicated and talented team of professional designers and tailors,
they are all set to deliver any amount of order with customized designs. Their
sole objective is to provide maximum satisfaction to their clients through
prompt and efficient service. Superior designing with innovative approach has
placed their designer wear in the front row of the market. Their exclusively
designed garments are a perfect fusion of traditional designs and contemporary
style which is the outcome of creativity of the designers. Each product is
tailored with utmost care so that the customers get customized range of
garments.
Infrastructure
Their
team of designers have the passion to create innovative range of products
embedded with their new ideas and experiments. To help them achieve their
objective, they have installed all the required tools, machineries and
designing equipment so that their creative skills are nurtured to the fullest.
Quality
They are
committed to manufacture only superior quality products for which they follow
stringent quality control norms. Immense emphasis is laid to ensure that their
products are executed as per the taste and preferences of the local as well as
international market. It is the high quality, right combination of color and
fine finishing of the product that have provided them a distinguished
reputation.
Market
Strategy
They often conduct a comprehensive research on the latest trends prevailing in
the market and this has helped them in analyzing the upcoming fashion style.
Their strategy has given them immense strength in supplying versatile range of
garments in advance as their designers get ample time to create designs that
are exclusive and in fashion.
Company profile
|
Business
Type |
Exporter
, Manufacturer , Trading Company , Supplier |
|
Export
Percentage |
40% |
|
No of
Staff |
18 |
|
Export
Markets |
Worldwide |
|
OEM
Service Provided |
No |
|
No of
Designer(s) |
3 |
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.44.27 |
|
UK
Pound |
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.57.27 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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 |
|