MIRA
INFORM REPORT
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Report Date : |
28.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
NAMRATA EXPORTS |
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Registered Office : |
H 3431 /1008, 2nd Floor, 4th Main , 14th Cross, Shastri
Nagar, Bangalore – 560 020, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Rugs, Carpets, Jewellery, Garments and
Materials. |
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 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established concern having satisfactory track
records. 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. Nothing adverse reported |
LOCATIONS
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Registered Office : |
H 3431 /1008, 2nd Floor, 4th Main , 14th Cross, Shastri
Nagar, Bangalore – 560 020, Tamil Nadu |
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Tel. No.: |
91-80-32959962/26761593 |
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Mobile No.: |
91-9448138320 |
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Fax No.: |
91-80-26761593 |
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E-Mail : |
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Website : |
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Factory 1 : |
Varanasi, Uttar Pradesh |
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Area : |
1 Acres |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Amar Bahadur Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
53 years |
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Qualification : |
Business |
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Experience : |
20 years |
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Name : |
Mr. Lali Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
51 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Rugs, Carpets, Jewellery, Garments and
Materials. |
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Exports : |
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Countries : |
USA, UK, Canada, New Zealand, Spain and France |
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Terms : |
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Selling : |
L/C, Sight and Credit (30 Days). |
GENERAL
INFORMATION
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Suppliers : |
· S B Woollen Miss, Bikaner · SPN Overseas , Panipat · Pedalite Latex Company, Varanasi |
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Customers : |
· Hill and Company, UK · Rock Mirrors , USA · Madbeader, USA |
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No. of Employees : |
75 |
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Bankers : |
Bank of Baroda Address: International Business branch, Varanasi |
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Facilities : |
Rs. 3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bajpai Associates Chartered Accountants |
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Address : |
Varanasi |
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Memberships : |
Carpet Export Promotion Council |
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Group Companies: |
Esswari and Company Address: Varanasi |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 4.500 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 |
14.000 |
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Profit/Loss for the year |
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12% |
12% |
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Export Value |
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15.000 |
14.000 |
Average value of
inventories at an average at any given time: Rs. 2.500 millions
LOCAL AGENCY
FURTHER INFORMATION
OBSERVATION
POINTS:
· Name Board: Not Sighted
· Location: Easy
· Locality: Residential cum Commercial
· Location: Owned
· Office appearance: Presumed to be home cum office
WEBSITE DETAILS:
Established in the year 1994, they, the concern, are engaged in offering quality garments like formal suits, executive suits, etc.; along with numerous home furnishing products. They are a premier name in this fast growing industry reputed to have competitive low cost structure, quality merchandising and skilled personnel.
Being indulged in the field of exporting, they represent their selves as an actual buyer and also give detail product related specifications to leading manufacturers. They follow best world-class procurement services and have the ability to meet the demands while reducing delivery times. They understand the challenges of cross-border sourcing and supplier management and remain committed to provide their customers with the best products in bulk amount.
Business Philosophy
They are driven by the aim of achieving the desired quality standards by leveraging on all the available resources, improved efficiencies and target oriented business approaches. At The concern, their main objective is to establish their presence all across the globe as well as provide a pleasurable and profitable experience for the
buyers.
Showroom
They offer complete variety of ready-made garments for men and women in different color combinations and sizes. Along with ready to wear clothes, they also supply home furnishings and rugs in exclusive designs and patterns. Customers from across the globe can source their products within stipulated time frame and at best industry rates.
Products
They offer a fascinating range of knitted and woven ready-made garments along with world-class home furnishing products in intricate designs and patterns. Their wide product line includes:
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Ladies Wear
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Coat |
Evening Formal Dress |
Formal Suit |
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Top / Tank Top |
Capri |
Executive Suit |
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Night Gown |
Sports Suit |
Big T-shirt |
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Yarn Dyed Shorts |
Short / Full Pyjama |
Skirt |
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Gents Wear |
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Cotton Trousers |
Shirt / T-shirt |
Polo Shirt |
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Infants Wear |
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Baby Sleep Suit |
Baby Cap Towel |
Baby Jump Suit |
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Baby Top |
Baby Trouser |
Baby Bib |
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Baby Fancy Romper |
Baby Short Set |
Baby Two Piece Suit |
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Girls' Wear |
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Capri |
Tank Top |
Spaghetti |
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Pyjama Set |
Folk Skirt |
Dip Dye Skirt |
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Tie and Die Shorts |
Embroidered Tops |
Embroidered Skirt |
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Yarn Dyed Set |
Yarn Dyed Stripes Tank Top |
T-shirt with Pant / Shorts |
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Boys' Wear |
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Dungaree |
T-shirt |
Night Suit |
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Half Sleeves Shirt |
Tie-n-Dye Shorts |
Vest with Shorts |
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Tie-n-Die Set |
Shirt |
Pant and Cargo |
Apart from that we also
offer a wide range of Home Furnishing Items, including:-
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Rugs |
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Silk Rug |
Woollen Hand Knotted Rug |
Hand Tufted Rug |
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Other Items |
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Pillow Cover |
Curtain |
Quilt |
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Cushion Cover |
Bed Spread |
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Storage and Packaging
Unit
They are equipped with capacious warehouse and packaging unit that facilitates in the storage of voluminous stock to meet all kinds of demand. They have in-house state-of-the-art packaging unit, that is equipped semi-automatic and automatic packaging machines. At The concern, all the basic packaging related checkings are done at this stage, assuring that goods dispatched are 100% fault-free.
Merchandising Service
At The concern, they always look for innovative marketing ideas and work in close coordination with the leading manufacturers. They know that the right resources, the most competitive price can assure profitable business propositions. Keeping this philosophy at the core of their business, they also provide market information and substantial helps in price negotiation.
They also monitor the order from garments procurement stage to shipment. They stand for managerial accountability and thereby, prepare weekly reports highlighting product status and shipping information.
Quality Assurance
At The concern, they follow all the necessary measures to ensure that they deliver 100% fault-free products. They emphasize on quality standards in all the procedures including quality check through continuous sample testing. They ensure that each product procured and shipped by their organization passes through stringent tests.
Their qualified quality control inspectors are also engaged in real time tracking of all import and export cargo.
Some of the features that are tested to ensure the quality in their products are as follows:
· Color Fastness
· Print Durability
· Dimensional Stability to Domestic Washing
· Fabric Match to Spectra Light
· Dye Strength
· Strength Test
· Shrinkage
· Flammability.
Strong Network
They boast of their relations with the most renowned and reliable vendors. They relate with vendors on the basis of their accreditations and capability to convert mere ideas into exact samples. Maintaining a close vigil on their shipping, documentation and forwarding services; their shipping department caters to the customers' need and ensures timely delivery of consignment to the desired destination.
Customer Satisfaction
Being flexible and committed to fulfill customers' needs, they have enabled their selves to retain a major share of the sourcing market. Their aim is always to help their customers by providing high standard customer services that help them rely on them. They have the capability to cater to large and orders of their customers throughout the world.
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.39.77 |
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UK Pound |
1 |
Rs.82.45 |
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Euro |
1 |
Rs.58.94 |
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 |
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 |
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 |
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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