MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SATYAM EXPORTS |
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Registered Office : |
B -42, 1ST Floor, Lajpat Nagar – II, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS1023G |
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PAN No.: [Permanent
Account No.] |
AEVPA2903B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Scarves, Stoles, Shawls, belts, bags,
Ponchos, Kurtas, Sarongs, beachwear, head Wraps, Triangles, Skirts, etc. |
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 10000 |
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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 : |
B -42, 1ST Floor, Lajpat Nagar – II, |
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Tel. No.: |
91-11-32600397 / 41717498 |
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Fax No.: |
91-11-41717498 |
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E-Mail : |
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Website : |
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Area : |
90 Sq. mtrs. |
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Location : |
Owned |
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Factory 1 : |
A – 10, Basment, Lajpat Nagar –III, |
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Area : |
180 Sq.mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Santosh Aggarwal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
32 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
KEY EXECUTIVES
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Name : |
Mr. Rajesh Agrawal |
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Designation : |
Key person |
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Mobile No.: |
91-9910297015 / 91-9818532709 |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Scarves, Stoles, Shawls, belts, bags, Ponchos,
Kurtas, Sarongs, beachwear, head Wraps, Triangles, Skirts, etc. |
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Exports to : |
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Terms : |
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Selling : |
Cash or Credit (30days – 45 days) |
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Purchasing : |
Cash or Credit (30 days) |
PRODUCTION STATUS
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Installed Capacity, Actual production Capacity to increase production
by 40 % |
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GENERAL INFORMATION
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Suppliers : |
Local Markets |
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Customers : |
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No. of Employees : |
25 |
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Bankers : |
H D F C Bank Limited, Defense Colony, |
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Banking
Relations : |
Satisfactory |
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Memberships : |
The Cotton Textiles Export Promotion Council |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 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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15.000 |
12.500 |
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Profit/Loss for the year |
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6% - 7% |
NA |
Expected Sales (2007-08) : Rs. 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Web Site details attached:
Style is the dress
of thoughts. Dressing enhances the personality and depicts the attitude of the
person. Subject offers an impressive range of textile
products at the most affordable prices to its prestigious
clients. The business house is an eminent manufacturer
and exporter of various textile items such as scarves,
stoles, shawls, pareos, bandanas, belts, bags, Kurtas, sarongs, beachwear, head
wraps, skirts, panta pareos, etc. We are known for their
exclusive cuts and styles that are the result of hours of research of our
creative designers. Their client oriented approaches provide them an additional
edge over the other competitors in the similar domain.
The impeccable
quality of their products paves the way to expand their market beyond the
territorial boundaries of
Subject offers a wide range of textile products made from the best of Indian
fabrics in colorful and stylish patterns. The entity is a distinguished
manufacturer and exporter of the following range of products:
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Scarves |
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Tebby Silk |
Handloom Checks |
Viscose and Satin |
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Jacquards & Dobby |
Arafat's Muslim Wear |
Silk Scarves |
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Viscose Scarves |
Cotton Scarves |
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Stoles |
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Handloom Stoles |
Embroidered Stoles |
Poly Georgette Stoles |
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Chiffon & Silk Stoles |
Cotton & Linen Stoles |
Silk Stoles |
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Viscose Stoles |
Cotton Stoles |
Woolen Stoles |
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Shawls |
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Pashmina Shawls |
Viscose Pashmina |
Jamawar Jacquard |
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Wool & Acrylic Shawls |
High Fashion Shawls |
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Pareos |
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Beach Pareos |
Panta Pareos |
Beach Sarongs |
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Cotton & Rayon Pareos |
Polyester Embroidered Pareos |
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Bandanas |
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Tebby Silk Bandanas |
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CDC Silk Bandanas |
Satin Bandanas |
Promotional Use |
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Polyester
Bandanas |
Cotton Cambric |
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Belts |
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Fashion Belts |
Embroidered Belts |
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Bags |
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Fashion Bags |
Embroidered Bags |
Evening Bags |
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Canvas Bags |
Hand Bags |
Gift Bags |
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Organza Bags |
Beaded Bags |
Beach Bags |
Their other collections include:
- Ponchos
- Kurtas
- Sarongs
- Beachwear
- Head Wraps
- Triangles
- Skirts.
Quality
Assurance
Latest
Designs
Subject offers stylish and high quality merchandise at competitive prices. They
are backed up by a team of highly creative designers to present new and innovative
designs every time. Their products depict hottest styles and fashionable
trends, combined with the latest designs in fabrics. We offer their products in
both traditional and contemporary designs in order to cater to all age
solutions under one roof.
Advantages:
- Wide range of
distinctive products embracing all age solutions
- Exclusive
designs to suit clients' tastes and preferences
- High quality
fabric to cater the quality savvy client
- Client
oriented approaches to maintain everlasting business partnerships
- Reasonable
prices
- Timely
delivery of the products.
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. 40.64 |
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1 |
Rs. 80.44 |
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Euro |
1 |
Rs. 54.65 |
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 |
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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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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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