MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SAI CREATIONS |
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Registered Office : |
5 / 1, First Floor, Subhash Nagar, Near |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS25245D |
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PAN No.: [Permanent
Account No.] |
AATFS7311P |
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Legal Form : |
Sole Proprietor Concern |
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Line of Business : |
Manufacturer and Exporters of Home Furnishing, Cushion cover, Bed
Covers, Wall Hangings, Shawls, Stoles, Skirts, Kurties, Bages, Purses,
T-Shirts, Tops, Fashion Jewellery, Handicrafts, Paintings. |
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 1200 |
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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. 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 : |
5 / 1, First Floor, Subhash Nagar, Near |
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Tel. No.: |
91-11-25138510 / 23412493 |
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Mobile No.: |
91-9818535000 |
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Fax No.: |
91-11-25138510 / 23413532 |
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E-Mail : |
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Website : |
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Area : |
90 sq. mts |
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Location : |
Owned |
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Factory : |
Subject do not have owned factory Job workers are in Uttar Pradesh, Haryana, Rajasthan and |
SOLE PROPRIETOR
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Name : |
Mrs. Rajni Arora |
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Designation : |
Proprietor |
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Date of Birth/Age : |
31 Years |
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Qualification : |
Graduate |
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Experience : |
6 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Home Furnishing, Cushion cover, Bed
Covers, Wall Hangings, Shawls, Stoles, Skirts, Kurties, Bages, Purses,
T-Shirts, Tops, Fashion Jewellery, Handicrafts, Paintings. |
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Products : |
Cushion Covers, Bed Sheets, Durries, Wall Hangings, paintings, ladies
Skirts and Kurtis, Shawls Stoles Scarves, Costume Jewellery, sterling Silver
Jewellery, Draw String Bags, Ladies Designer Footwears, Artificial Jewellery. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Terms Export: L/C, D/A and Dp Local Sales: Cash or 30 – 45 days Credit |
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Purchasing : |
Advances, Cash or 30 days Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
5 |
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Bankers : |
Ing Vysya Bank Limited |
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Facilities : |
No Overdraft |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Sai International Address: Same Activities: Import of Sanitary Items from Sales Turnover: Rs.5.000 millions Employees: 4 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.300 million |
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Borrowed : |
- |
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Total : |
Rs.0.300 million |
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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2.000 |
1.800 |
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Gross Profit |
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12% |
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Profit After Tax |
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8% |
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Expected Sales (2007-08) : Rs.5.000 millions
LOCAL AGENCY FURTHER INFORMATION
Production:
Capacity to increase production by 200%
Future Programs of
Company:
Subject wants to increase Export. Negotiations are in pipe Line.
Company Profile:
Incorporated in the year 2004, subject is a prominent
manufacturer and exporter of a wide assortment of home furnishing, clothes,
fabrics, silver jewellery, decorative wall hangings and fashion accessories.
The collection offered by them highlights the aesthetic beauty of Indian
heritage and customers can source these products at competent prices.
Mrs. Rajni Arora laid foundation stone
of Subject and under her decorous leadership; the company has
grown leaps and bounds. They are calibrated to deliver both small and bulk
orders of their clients within stipulated time frame. Their company also
facilitates availability of Customized Goods i.e., goods as per set
specifications.
Products Offered:
Cushion Covers, Bed Sheets, Wall Hangings, Durries,
Rugs, Table Mats, Door Mats, Napkins, Aprons, Place Mats, Coasters, Agarbatti
(Incense) holders, Candle Stands, etc.
Shawls, Stoles, Scarves, Ponchos, Bags,
Purses, Jewellery Boxes, Hand Mirror, Belts, Bindis, Body Tattoos, Ladies
Jutis, Slippers, Bangles, Hair Accessories, etc.
Ladies Skirts, Kurtis, T-Shirts, Shirts etc.
Fashion Jewellery, Artificial Jewellery,
Sterling Silver Stone Studded Jewellery, Costume Jewellery, etc.
Versatile
Manufacturing Unit
They have soundly equipped manufacturing
unit at Subhash Nagar,
The sound networking with vendors for raw materials and decorative
embellishments is also one of the core strength of their organization. They are
boosted to serve both the small and bulk orders of their clients in a short
notice.
Impeccable
Craftsmanship
The assortment of goods manufactured by them highlights the impeccable
craftsmanship of their artisans. Artists have inherited flawless craftsmanship from
their ancestors and hold expertise in highlighting Jaipuria, Rajasthani,
Banjara and Gujarati styled embroideries. They maintain an apt synchrony in
fabric, color scheme, embroidery and other embellishments, to craft ravishing
collection.
Their team of talented designers presents most beautiful designs that truly
mark latest market trends. A culmination of traditional ethical concepts and in
vogue trends is duly met in their spectrum of goods. Designers conduct
extensive market research to offer products as per tastes and preferences of
customers and end-users.
Quality
Orientation
Delivery of “Quality Goods” is an ongoing commitment at subject. They have a
team of quality controllers who assures that stature goods are forwarded to
customers. Experts implements stringent quality checks at all levels i.e. from
procurement of raw materials to the shipment of goods.
Quality controllers assure that goods are procured from most reliable vendors
at best rates. Moreover, their artisans work under the close vigilance of
master craftsmen who guide and direct them in the work. By implementing
stringent quality checks, they are calibrated to deliver world class products.
Moreover, they are consistently elevating the standard of excellence and settings
new benchmarks for their goods.
Customized
Products
Along with their existing range of products, clients from domestic and
international market segments can avail “Customized Products” from them. This
facility is for the utmost convenience of their existing and new customers.
Customers can also send them sample or photograph /drawing of products as,
required by them and they are calibrated to manufacture exactly the same goods.
This is possible by the versatile aspect of their manufacturing unit and team
of dexterous artists.
Patrons Across
Globe
They cater to a coveted list of patrons who have entrusted immense faith in
them and their array of products. An apt proof to this fact is the repeated
orders of their clients. Their endeavors to offer premium quality products have
been acknowledged by their clients and have helped them establish an ongoing
relationship with them. They have patrons primarily in
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.40.98 |
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1 |
Rs.80.98 |
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Euro |
1 |
Rs.54.99 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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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45 |
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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