MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
GAYATRI INTERNATIONAL |
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Registered Office : |
A-21, Lajpat
Nagar- I, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Specialists in scarfs, stoles, shawls, pareos and Kurtis. |
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 24000 |
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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.
Nothing adverse reported. 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 : |
A-21, Lajpat Nagar – 1, New Delhi-110 024 |
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Tel. No.: |
91- 11-2981 6029/ 2981 6059/ 2981 9477/ 4171 8447. |
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Mobile No.: |
91-9811283860 |
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Fax No.: |
91-11- 2981 4095 |
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E-Mail : |
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Website : |
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Area : |
9000sq.ft. |
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Location : |
Owned |
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Factory 1 : |
Shantiniketan, Azad Nagar, |
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Tel. No.: |
91-5248-222693/229493 |
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Fax No.: |
91-5248-222871 |
SOLE PROPRIETOR
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Name : |
Mr. B. L. Verma |
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Designation : |
Sole proprietor |
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Address : |
A-21, Lajpat Nagar-I, |
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Mobile No.: |
91-9811283860 |
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Date of Birth/Age : |
Around 49 years |
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Experience : |
25 years – 30 years |
KEY EXECUTIVES
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Name : |
Mr. Mukesh Verma |
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Designation : |
Key Executive |
BUSINESS DETAILS
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Line of Business : |
Specialists in scarfs, stoles, shawls, pareos and Kurtis. |
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Exports : |
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Countries : |
Europe, |
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Terms : |
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Selling : |
T/T (Exports), L/C (Less %), (Domestic) 30% Advance, Balance after
delivery |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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No. of Employees : |
500 |
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Bankers : |
The Jammu and
Kashmir Bank Lajpat Nagar, New
Delhi-110024, |
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Facilities : |
- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B K Singh and company Chartered Accountants |
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Associates/Subsidiaries : |
v
Rishi International Address: 115, Karthik Complex,
New Linking Road, Opposite Laxmi Industrial Estate, Andheri (West), Mumbai, Line of Business: Specialists in scarfs, stoles, shawls, pareos and Kurtis. Legal Status: Proprietorship Name of the proprietor: Mr. R. R. Verma Turnover: Rs. 22.500 millions approximately v
Barabanki
Handloom Address: 115, Karthik Complex,
New Linking Road, Opposite Laxmi Industrial Estate, Andheri (West), Mumbai, Line of Business: Specialists in
scarfs, stoles, shawls, pareos and Kurtis. (Used only for domestic sales.) |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 6.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 6.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
Around 40.000 |
22.000 |
20.000 |
Expected Sales (2007-08): Around Rs. 60.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Porte De Gentilly,
v
Groupo Fashions,
v
Website details attached:
Profile
Established in 1998, Gayatri International has in a few short years
established itself as a leading manufacturer and exporter of products such as Scarves,
Stoles, Shawls, Pareos, Bandanas, Bags, Belts and other fashion accessories.
With a turnover of over US $ 10 million,
they cater to the requirements of customers in
Products
With the highest standards of quality and
using the finest raw materials such as Viscose, Silk, Satin, Pashmina, Wool,
Cotton, Rayon and Polyester, they provide a wide range of products such as
Scarves, Stoles, Shawls, Pareos, Bandanas, Bags and Belts, that have been
widely admired by customers all around the world.
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Infrastructure
250 handlooms and over100 powerlooms hand looms with a production
capacity of 5,000-10,000 per day forms the backbone of their state-of-the-art infrastructure.
An ultramodern factory spread out over an area of 9,000 sq ft houses the
machinery and over 200 of their skilled craftsmen. These immense financial and
material resources allow us to maintain high standards of productivity and
quality in their work. Their in-house design team keeps churning out around 20
to 30 new and contemporary designs every month and is in sync with the tastes
of their global customers. Their resources allow them great leeway in
innovating and refining their technologies and processes.
Their manufacturing facilities have been certified to be in complete compliance
of UN guidelines on Labor practices
Quality
From Viscose, Silk, Satin, 100 % Pashmina, to Wool, Cotton, Rayon and
Polyester, they use only superior grade raw materials to manufacture their
products. Supervised by senior craftsmen, teams of craftsmen work to create
products of impeccable beauty and elegance. Stringent quality checks and tests
are routinely carried out to ensure quality that conforms to global standards.
They work to provide their customers with the finest quality products at the
most economical prices.
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. 39.73 |
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1 |
Rs. 81.37 |
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Euro |
1 |
Rs. 56.63 |
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 |
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 |
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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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. |
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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