MIRA
INFORM REPORT
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Report Date : |
07.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PRAVEEN IMPEX |
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Registered Office : |
No. 4/2 Vadivudai Amman Kovil street, Gandhi Nagar, Kodunganyur,
Chennai 600118, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter of Human hair (Ladies Hair) |
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. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern and not much known in its field. Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be
considered for small business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
No. 4/2 Vadivudai Amman Kovil street, Gandhi Nagar, Kodunganyur,
Chennai 600118, Tamilnadu, India |
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Tel. No.: |
91-44-25580927 |
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Mobile No.: |
91-9840326499 |
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Fax No.: |
91-44-25580927 |
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E-Mail : |
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Area : |
900 Sq. fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Praveen Kumar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
20 Years |
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Qualification : |
BBA and Diploma Web Tech |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Exporter of Human hair (Ladies Hair) |
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Products : |
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Exports : |
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Products : |
Ø Human Hair Ø Curly Ladies
Hair |
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Countries : |
Ø Europe Ø North America Ø South Africa Ø Nigeria Ø Argentina |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Ø Wholesalers Ø Retailers |
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No. of Employees : |
10 |
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Bankers : |
Union Bank of India Madhavarram Branch, Chemical |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Elumalai Chartered Accountants |
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Address : |
Arambakkam |
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Tel. No.: |
91-9381061747 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 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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4.500 |
2.000 |
Expected Sales (2007-08) : Rs. 9.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
Ø Steel Nivedita International
Ø Sun Hair
AS PER WEBSITE DETAILS:
Powered by strong infrastructural abilities and technically sound human
resources, Subject emerges as the brightest star in the galaxy of natural human
hair. They are a highly acclaimed manufacturer, supplier and exporter
of high quality human hair such as natural bleached
remi hair, non-remi human hair in all natural colors, dark, medium and light
grey hair, etc. They offer these hair in all natural and bleached
colors such as black, brown, grey, natural white and pale yellow.
Their products are available in multiple textures ranging from straight,
wavy to the curly variety.
They are a professionally managed concern working with the sole motto of
providing excellent quality natural hair to their valued clients. The company
follows strict quality control measures throughout its manufacturing process to
deliver premium quality. Their products are known for their superior quality in
the entire global market.
Quality Assurance
Praveen Impex follows a strict quality management programme at every
level of its manufacturing process. The hair are procured directly from various
temples which passes through rigorous cleaning and sterilizing processes
and is then tied in single head bundles. They employ Italian technology in
order to wash and clean the hair with optimum perfection. The entire process is
supervised by a team of diligent quality inspectors who leave no errors. They
assure timely delivery and effective services, offering their products at the
most competitive rates.
Infrastructure
They are well supported by an outstanding manufacturing unit comprising of
latest technologies and excellent workforce to manufacture both single and
double drawn hair. The company is backed by a team of highly trained and
experienced professionals who have immense experience in offering right quality
products to the clients at the right price.
Potential
They have the capability of catering to any bulk order, offering a complete
line of human hair, processed through the most stringent
quality control measures by a dynamic workforce committed to excellent
service.
Ø
A sound infrastructure armored with advanced and innovative technology
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Meeting the exacting requirements of the customers and standards of the
industry
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Top-notch quality products manufactured following stringent quality
checks
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Competitive prices--the best price offered in the market
Ø
Reputation based on quality, reliability, integrity, and complete
understanding of the market dynamics.
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
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.29 |
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UK Pound |
1 |
Rs. 81.91 |
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Euro |
1 |
Rs. 56.96 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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37 |
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. |
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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