MIRA
INFORM REPORT
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Report Date : |
07.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
A R EXPORTS |
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Registered Office : |
Building No. 6/106, Mittal Industrial Estate, Sir M. V. Road, Andheri (East), Mumbai – 400 059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Trader, Exporter and Importer of Pharmaceuticals Glass Bottles/ Vials and Fabrics. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average 30days |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern having moderate track. It’s payment
in the local market are slow. Profit margin is under severe pressure. Initially, the concern can be considered for small to mediocre
business dealings as usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Building No. 6/106, Mittal Industrial Estate, Sir M. V. Road, Andheri (East), Mumbai – 400 059, Maharashtra, India |
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E-Mail : |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
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Warehouse : |
A P 513,514, Rajlaxmi Commercial Complex, Thana – Bhiwandi Road, Kalher Village, District Thane, Maharashtra, India |
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Area : |
7000 sq. ft. |
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Location : |
Rented |
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PARTNERS
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Name : |
Mr. Aman Saraf |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
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Name : |
Mr. Om Saraf |
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Designation : |
Partner |
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Date of Birth/Age : |
65 years |
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Qualification : |
Under Graduate |
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Experience : |
42 years |
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Name : |
Mr. Anup Saraf |
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Designation : |
Partner |
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Address : |
38 years |
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Date of Birth/Age : |
Graduate |
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Qualification : |
21 years |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Pharmaceuticals Glass Bottles/ Vials and Fabrics. |
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Products : |
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Exports : |
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Countries: |
Europe, Middle East, Canada, USA ,Italy, France, Greece, Spain and Canda |
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Imports : |
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Countries: |
China |
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Terms : |
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Selling : |
Credit basis |
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Purchasing : |
L/C, Cash and Credit basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
5 |
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Bankers : |
Canara Bank Sakinaka Andheri (East), Mumbai – 400 072, Maharashtra, India |
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Facilities : |
Cash Credit: Nil The Concern enjoy L/C facility of substantial |
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Banking Relations
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Satisfactory |
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Auditors : |
G. R. Modi and Company Chartered Accountants |
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Sister Concerns : |
A. R. Marketing, Mumbai --Line of Business: trading in pharmaceuticals packaging materials. A. R. Marketing, Daman --Line of Business: trading in pharmaceuticals packaging materials. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 1.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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50.000 |
30.000 |
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Export Value |
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30.000 |
30.000 |
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Expected Sales (2007-08) : Rs. 60.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Vanarts, Varanasi
- Indian Silk Industries, Mangalore
A. R. EXPORTS
MR. OM SARAF
Cell No: 91-98214 99920
MR. ANUP SARAF
Cell No: 91-98214 99919
MR. AMAN SARAF
Cell No: 91-98213 45690
38/1, SAKI NAKA LINK ROAD,
OPP. MUNICIPAL SCHOOL
ANDHERI (EAST)
MUMBAI 400 072
INDIA
TELE OFF: 91-22-5157834 (4
Lines)
91-22-5135946
TELE RES.: 91-22-8576830
91-22-8571529
FAX
: 91-22-8570690
91-22-5168947
EXPORTERS OF
HI-FASHION FABRICS AND EMBROIDERY WORKS FOR BRIDAL AND EVENING / COCKTAIL WEAR
THEY ARE EXPORTERS OF HI-FASHION SILK FABRICS AND EMBROIDERY WORKS FROM
INDIA AND EXPORTING OUR GOODS TO ALL OVER THE WORLD. THEYARE DOING EMBROIDERY
ON FABRICS (SILK AND SILK BLENDS POLYESTER) AND EXPORTING TO VARIOUS COUNTRY
SUCH AS ITALY , FRANCE , GREECE , SPAIN , U.K. ,U.S.A. , CANADA TO NAME A
FEW . THEYALSO DO EMBROIDERY ON BORDERS AND LACES. FURTHER THEYARE ALSO INTO
THE EXPORT OF SILK FABRICS (SUCH AS: ORGANZA SILKS, DUPION SILKS, CRAPE SILKS,
CHIFFON SILKS, TISSUE, CRUSH TISSUES (METALLIC FABRIC), BHAGALPURI SILKS,
BENARASI SILKS ETC
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.44 |
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UK Pound |
1 |
Rs.85.89 |
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Euro |
1 |
Rs.58.54 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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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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
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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