MIRA
INFORM REPORT
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Report Date : |
28.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FASHION BELT HOUSE |
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Registered Office : |
5138 / A, 2ND Floor, Krishna Rui Mandi, Main Road, Sadar
Bazar, New Delhi – 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1988 |
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IEC No.: |
0502031514 dated: 16.08.2002 |
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PAN No.: [Permanent
Account No.] |
AAVPD4607P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporters of Fashion Garment and 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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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 concern having satisfactory track. Trade
relations are fair. 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 : |
5138 / A, 2ND Floor, Krishna Rui Mandi, Main Road, Sadar
Bazar, New Delhi – 110006, India |
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Tel. No.: |
91-11-23551729 / 23529978 / 23524688 / 23513782 |
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Mobile No.: |
91-9811206659 |
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Fax No.: |
91-11-23513782 |
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E-Mail : |
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Website : |
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Area : |
700sq.fts |
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Location : |
Owned |
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Factory : |
Aligarh and Delhi |
SOLE PROPRIETOR
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Name : |
Mr. Kaleemu Din |
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Designation : |
Proprietor |
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Address : |
House No. 550, Gali No.24, Jafrabad, Saleempur, Delhi – 110053 |
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Date of Birth/Age : |
32 years |
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Qualification : |
Graduate |
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Experience : |
11 years |
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Mobile No. : |
91-9811206659 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Fashion Garment and Accessories |
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Products : |
³
Belt Buckles ³
Leather Bags Buckles ³
Hand Bag Buckles ³
Shoe Buckles ³
Garment Stickers ³
Sandle Buckles ³
Eyelet ³
Zipper ³
Shoe & Bag Fitting ³
Fashion Buttons for Garment, Leather and Shoe
Industry |
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Exports : |
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Countries : |
Middle East, Germany, Europe, USA and African Countries |
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Imports : |
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Products : |
Raw Materials, Leather and Other Accessories |
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Countries : |
China |
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Terms : |
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Selling : |
Term of Exports: Advance Payments and Irrevocable L/C at sight basis Terms of Sales: CAD and Credit (30 to 45 days) |
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Purchasing : |
DP, CAD and Credit (10 to 30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Traders |
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No. of Employees : |
80 (Office: 20, Production: 60) |
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Bankers : |
Bank of Baroda |
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Banking
Relations : |
Satisfactory |
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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37.500 |
30.000 |
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Profit/Loss Before Tax |
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1.025 |
0.775 |
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Profit/Loss After Tax |
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5.500 |
3.900 |
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Export Value |
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21.500 |
16.500 |
Expected Sales (2007-08) : Rs.45.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.48 |
2.17 |
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Net Profit Margin |
(%) |
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2.73 |
2.58 |
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Return on Investment (ROI) |
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37.20 |
32.50 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web Details
Profile:
Subject was established
in the year 1988 and with the advancement of time it has emerged as one of the
most successful manufacturer and exporter of Fashion Garment Accessories in the Indian market. The company is
marked for the offering a wide range of world class Buckle Accessories, Belt Buckles, Bag Accessories, Shoe Accessories,
Labels, Fashion Buttons and Garment Accessories which are designed as
per the latest trends and market style.
Variety
The Buttons at Fashion Belt House are available in
wide variety and range like PVC buttons, Brass buttons, Plastic buttons, Zinc
Buttons, Nylon Button and other durable materials.
Quality
Buttons, Garment Stickers, Belt Buckles
and other fittings are manufactured as per the customized requirement in
the latest design and style. Only high quality raw materials are used to ensure
qualitative production. Stringent quality control measures are taken at all
stages so that the defects can be checked at the earliest. They offer a
comprehensive range of exclusively designed sewing buttons, clothing buttons in
a variety of color and sizes, which are delivered according to the required
quantity ordered by the customer. A full servicing operation is followed for
all the orders.
Client
They are the major exporter of these items to the countries across the globe.
Almost 50 per cent of the final products are exported to countries like
Germany, Europe, and USA.
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.39.85 |
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UK Pound |
1 |
Rs.82.61 |
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Euro |
1 |
Rs.59.21 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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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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48 |
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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