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MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
EN – VOGUE INTERNATIONAL |
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Registered Office : |
BG – 11D, M.I.G. DDA Flats, Munirka, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
0599058714 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Buying Agent, Manufacturers and Exporters of Garments and fashion
accessories. |
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 40000 |
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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 records. Proprietor is reported
as experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. 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 : |
BG – 11D, M.I.G. DDA Flats, Munirka, |
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Tel. No.: |
91 – 11 – 2617 9640/ 32920222 |
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Mobile No.: |
91 – 9999279999 / 9891041071/ 9313011987/ 9311991129/ 9210023091 |
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Fax No.: |
91 – 11 -2610 6794 |
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E-Mail : |
vikasnarula@en0vogueinternational.com
envougue@en-vogueinternational.com
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Website : |
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Area : |
1200 Sq.ft. |
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Location : |
Owned |
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Factory 1 : |
Seven Seas – Plot 414, Sector – 37, Khandsa, Gurgaon, |
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Tel. No.: |
91 – 11 – 3292 0222 |
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Fax No.: |
91 – 11 -2610 6794 |
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E-Mail : |
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Area : |
1400 Sq.mt. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vikas Narula |
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Designation : |
Proprietor |
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Address : |
A – 16 / F, Munirka, |
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Date of Birth/Age : |
32 years |
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Qualification : |
B.A., MBA (IB) |
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Experience : |
8 years |
BUSINESS DETAILS
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Line of Business : |
Buying Agent, Manufacturers and Exporters of Garments and fashion accessories. |
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Products: |
Home
furnishings/textiles v Textile Fabrics v Floor Coverings v Decorative Handicrafts and
Giftware/ decorations Fashion accessories v Artificial Jewellery v Silver Jewellery v Bags v Belts Ready to wear garments Leatherwear Garments : v Readymade garments v Knitted and Woven garments v Made-ups Furniture : v
v Colonial |
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Agencies Held : |
v
Island Imports – v
Billablong – v
Offline – v
Futura Finance - France |
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Brand Name : |
EN-VOUGUE |
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Exports to : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Particulars |
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Unit |
Installed
Capacity |
Actual
Production |
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Garments – Knits and Woven |
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Pcs |
75000 |
75000 |
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Fashion Accessories |
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Pcs |
250000 |
250000 |
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Home Textiles and Gifts Articles |
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Pcs |
100000 |
100000 |
Capacity to increase production by 30%
GENERAL INFORMATION
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Suppliers : |
Purchase from open market and garment exporter |
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Customers : |
Wholesalers, Retailers and Importers v
C And L – v
Harka Dabs – v
Illa Bong – |
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No. of Employees : |
40 Permanent and 200 on Contract Basis |
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Bankers : |
ABN Amro Bank, |
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Banking
Relations : |
Satisfactory |
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Membership : |
EPCH, AEPC |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 10.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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110.000 |
100.000 |
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Profit/Loss for the year |
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10-11% |
10-11% |
Expected Sales (2007-08) : Rs.125.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Gayatri international
v
Anand Exports
v
Anutex International
v
Harsh Fashion
Website details attached:
Profile
Through the centuries,
India has a lot to offer, but because of its size, diversity and unique nature of production centers-many in the villages-to take full advantage of the potential, one must either have one's own office here, or at least some sort of representation - which could handle things on similar professional lines
Having a personal rapport with the factories goes a long way, but it is when you want to increase the supply base by adding on more vendors or want to diversify into other fields, that the role of a buying office comes into the picture
It was to cater to this growing demand that subject was set
up and represents reputable wholesalers/ importers and selected specialty
stores for their buying of consumer goods from
Representing companies in the continents of
North America
South America
Europe
Africa
Asia
And through them having shipped to :
Austria, Australia, Belgium, Canada, China, Cyprus, Czech
Republic, Denmark, Egypt, Finland, France, Germany, Greece, Holland, Ireland,
Israel, Italy, Japan, Mexico, New Zealand, Norway, Philippines, Poland,
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. 40.30 |
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1 |
Rs. 82.97 |
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Euro |
1 |
Rs. 55.64 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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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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54 |
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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